LIC Jeevan Sangam Plan

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.

Eligibility Criteria for LIC’s Jeevan Sangam

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:

  • Plan with guaranteed returns and bonus
  • Single premium plan
  • Large Sum Assured Rebate is available
  • Will be open for sale for maximum 90 days from the date of launch
Parameters Minimum Maximum
Sum assured Rs 75,000 No limit
Policy term 12 years 12 years
Premium payment term Single  
Payment mode Monthly, Quarterly, Semi-annually, Annually  

Benefits of LIC’s Jeevan Sangam

The benefits of LIC’s Jeevan Sangam insurance plan are listed below:

  • Jeevan Sangam comes with death benefits. In case the life assured dies during the first five policy years, before the commencement of risk’s date, the single premium, minus the service tax and interest is refunded.
  • Post the risk commencement’s date, the sum assured paid will be 10 times the premium.
  • When the life assured dies after completing five policy years, but before the stipulated maturity date, 10 times of the single premium is paid to the nominee as basic sum assured.
  • If the life assured is alive till the policy’s tenure, then sum assured along with loyalty addition is paid.
  • The plan also offers loyalty addition which is payable on surrender of the policy or death of the life assured. The policy should have been active for a minimum of five years, based on the terms declared by LIC.
  • Insurance premiums up to Rs. 1,50,000 are exempted from tax under Section 80C of the Income Tax Act 1961. Subject to fulfilment of terms and conditions, the maturity benefit also is tax free under Section 10(10)D.
  • Under this plan, the policyholder can avail a loan any time post three months from the policy’s issuance date.
  • The policy also has the benefit of surrender value. The policyholder, under this plan, can surrender the policy at any time during the policy’s tenure. For the first year 70% of the premium, minus the taxes and extra premiums paid

How LIC’s Jeevan Sangam Works

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.

Premium Payment

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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