Jeevan Sangam by LIC is a single premium, non-linked plan that comes with a guaranteed return, since it participates in LIC's profits. The risk cover offered is a multiple of the single premium. The single premium payable depends on the life assured's age and the amount chosen as the maturity sum assured.
In order to be eligible for this LIC policy, an individual needs to fulfill the following criteria:
Minimum age at entry | 6 years (age at the last birthday) |
Maximum age at entry | 50 years (age nearer birthday) |
Key Features of LIC's Jeevan Sangam
The Jeevan Sangam insurance plan offered by LIC has a number of attractive features. A few of them have been mentioned below:
Parameters | Minimum | Maximum |
Sum assured | Rs 75,000 | No limit |
Policy term | 12 years | 12 years |
Premium payment term | Single |
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Payment mode | Monthly, Quarterly, Semi-annually, Annually |
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The benefits of LIC's Jeevan Sangam insurance plan are listed below:
Mr John, aged 30 years, purchases a Jeevan Sangam plan with a sum assured of Rs 2,00,000 for a period of 12 years. At the maturity of the policy, Mr John will get the guaranteed maturity sum assured along with variable loyalty addition as maturity amount.
The term of premium payment is single where the policyholder can choose between monthly, quarterly, half-yearly or yearly modes to pay the premium.
There are no rider benefits available under the Jeevan Sangam insurance policy.
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