• LIC Jeevan Varsha Plan

     0.0 / 5.0   by 0 users
    Used this product? Write a review >>

    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    LIC Jeevan Varsha provides periodic payments and maturity benefits and death benefits. You will also get guaranteed and loyalty additions on death and maturity.

    Eligibility Conditions of LIC Jeevan Varsha

    Entry Age

    Minimum – 15 years

    Maximum – 66 years

    Maturity Maximum – 75 years
    Policy Term

    9 years

    12 years

    Key Features of LIC Jeevan Varsha

    Type

    A close ended Money Back plan.

    Basis

    Individual.

    Coverage

    • Death Benefit: In the event the life insured dies during the policy term, the sum assured is payable along with guaranteed and loyalty additions.
    • Survival Benefit: The policyholder gets the following survival benefits:

      9 year term:

      At the end of 3 years – 15% of sum assured

      At the end of 6 years – 25% of sum assured

      At the end of 9 years – 60% of sum assured with guaranteed and loyalty additions.

      12 year term:

      At the end of 3 years – 10% of sum assured

      At the end of 6 years – 20% of sum assured

      At the end of 9 years – 30% of sum assured

      At the end of 12 years – 40% of sum assured with guaranteed and loyalty additions.

    Sum assured

    Minimum: For monthly mode it is Rs.75,000 and for other modes it is Rs.50,000.

    Maximum: No limit

    Minimum Premium amount

    For sum assured Rs.1,000 the premium is as follows for different age group for different policy term:

    • Age 20: Rs.161.85 for 9 year term and Rs.165 for 12 year term.
    • Age 25: Rs.161.90 for 9 year term and Rs.165.10 for 12 year term.
    • Age 30: Rs.162.05 for 9 year term and Rs.165.30 for 12 year term
    • Age 35: Rs.162.45 for 9 year term and Rs.165.85 for 12 year term
    • Age 40: Rs.163.20 for 9 year term and Rs.166.90 for 12 year term
    • Age 45: Rs.164.60 for 9 year term and Rs.168.65 for 12 year term
    • Age 50: Rs.166.95 for 9 year term and Rs.171.50 for 12 year term

    Premium paying frequency

    Monthly, quarterly, half-yearly and yearly.

    Premium paying method

    Monthly premium payment must be transferred through ECS or direct debit.

    Revival

    If the premium which is due is not paid within the grace period, then the policy will lapse. The policy can be revived within 5 years from the date of the first unpaid premium or before maturity. The arrears must be paid with interest.

    Bonuses

    No bonus offered.

    Surrender Value

    The surrender value will be paid after completing 3 policy years. It is 30% of the total amount of the premiums paid.

    Paid-up value

    If you have paid 3 full year premiums, and you fail to pay premiums after the 3 years, the policy doesn't lapse instead it will be converted to a paid-up policy.

    Loan

    Loan facility is available after the policy acquired paid-up value.

    Grace period

    30 days grace period will be allowed for yearly, half-yearly and quarterly premiums. 15 days for monthly premium.

    Free look period / Cooling off period

    The plan has a 15 days free look period from the date of receipt of the policy document. After submitting in writing the reason for you to cancel the plan you will receive refund on the date of allocation along with deductions, if any.

    Tax benefits

    Tax benefits that are relevant will be applicable.

    Nomination

    You can appoint a nominee.

    Exclusion

    If the policyholder commits suicide within a year from the date of taking the policy, the nominee will get the fund value as available on the date of death.

    Advantages of of LIC Jeevan Varsha

    • Survival benefits are paid.
    • Death benefit is offered to the nominee.
    • Guaranteed additions of Rs.65,000 sum assured for 9 year policy term of LIC and Rs.70,000 per year for 12 year policy term is offered.
    • Loyalty additions are paid based on maturity or on death.
    • Tax benefits can be availed.

    How the Plan Works

    Miss. Shubha who is 35 years old invested in LIC Jeevan Varsha for 12 year term. The premium paying term is 9 years. The annual premium she has to pay is Rs.16,053. The sum assured is Rs.1 lakh. She will get guaranteed additions of Rs.1,000 per year per sum assured. The guaranteed benefits by the end of the 12th year will be Rs.1,84,000.

    Premium Payment

    The premium paying term is 9 years. The premium can be paid yearly, half-yearly, quarterly or monthly. The monthly payments are to be made through ECS or Direct Debit.

    Riders

    This policy has no riders.

    This Insurance Company has not partnered with BankBazaar.com. For more details, please visit its website/branch office. The trademarks, logos and other subject matters of intellectual property belong to their respective owners.

    GST of 18% is applicable on life insurance effective from the 1st of July, 2017

    LIC Jeevan Varsha Plan Reviews

  • Page 1 of 50 1 2 3 4 5
    • LIC Life Insurance
      "Trusted Policy"
      0.5 3.0/5 "Satisfactory"
      I do online payment for this LIC policy. Good life secured policy. I found LIC is trustworthy to invest. I've been holding this policy more than 8 years. Risk coverage policy. Accidental and death benefitable policy. I used to pay the premium of Rs. 5000 every month. Its a life time policy. After 60 years it will get matured. I will get a sum assured amount of Rs. 10 lakhs
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I am using the life insurance policy from the LIC for which I am paying a premium of almost 1 lac. Their services are good and never faced any issues so far. The payment options are also nice with the LIC. Being a Govt company the security for investment is certainly there with the LIC,
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've been using the LIC Bharti Jeevan Policy for a while. I pay a premium of 21000 per year. I make payments Via Cheque.. The service is good. No issues so far. The tenure of the policy is 15 years. Overall it has been a hassle free experience with the LIC and their services.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've a life insurance policy with the LIC. I am paying the premium 11000, per year. The service good. It is so easy to make payments for this policy. I never faced any issues with their services. Being a govt company the security for my investment is guaranteed with the LIC.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've been using the LIC Jeevan Tarang Policy for a while. It is take for my children. The tenure of the policy is 18 years. It can also be converted to a pension scheme where my children will be getting 28000 per year as a part of the plan. It is a useful policy and recommendable.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've been using the LIC Bhima Gold Money back policy for a while now. I will get cash back every 5 years via DD. I pay a premium of 700 monthly for this policy. It is a very useful policy considering the low premium I pay. Overall it has been a good experience with the LIC and their services.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've a Jeevan Anand policy with the LIC. I am paying the premium of 500 per month. It is too easy to make payments and I never faced any issues with their services. Being a govt company the security is there with the LIC Overall it has been a good experience .
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Better policy to use"
      0.5 5.0/5 "Blown Away!"
      I got the life insurance policy long back. This policy has the tenure of 20years. The plan benefits and the coverage is good with this policy . I would say i am satisfied having the Life insurance policy with Life Insurance Corporation of India.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Wonderful"
      0.5 3.5/5 "Pretty good"
      I am having the life insurance policy with the LIC of India. I would like to say that the customer service is good one and the response is better one too. Policy coverage value is good too with them. I am happy with the LIC of India.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Excellent"
      0.5 4.5/5 "Excellent!"
      I am having the Life Insurance policy with the Life Insurance Corporation of India. I would like to say that the customer service is also very good too and the response is good too. Coverage value is fine one too with the LIC of India.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Best"
      0.5 4.5/5 "Excellent!"
      Customer service is not experience with the Life Insurance Corporation of India, Policy coverage is good and I have taken two policy with the Life Insurance Corporation of India. Everything is better one with them till now.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "LIC is a very good policy"
      0.5 5.0/5 "Blown Away!"
      I have taken this LIC Jeevan Tarang policy 10 years before. I don't remember about the plans and benefits. I'm paying the premium amount of rs. 10000 six months once. I will come to know about the benefits when the maturity arrives. Total tenure of the policy is 12 years. Sum assured amount is 8 lakhs. Death benefits, Risk coverage and Accidental benefits are available. I used to make the payment through cash. My brother working as LIC agent and he suggested this policy.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Good policy"
      0.5 5.0/5 "Blown Away!"
      I have taken life insurance from LIFE INSURANCE CORPORATION OF INDIA and the yearly premium is 30000. The total maturity period is for 20 years. After the maturity period i will get the sum assured and the interest. I mostly do cash payment.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 19, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with LIC from last 14 years and it is a long term policy. I am happy with the returns and benefits of this policy. I pay my premium once in 3 months by cash and i am convenient with the payment options. The maturity period for this policy is after 23 years.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jun 19, 2018
    • LIC Life Insurance
      "Better"
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the Life Insurance Corporation of India. I would like to say that the customer service is fine one for me and the response is also good, also its not necessary. Plan benefits are less with them.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 19, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 5.0/5 "Blown Away!"
      I took this life insurance jeevan policy from Lic insurance company mainly because of the good returns. The tenure period is 20 where the policy covers till 60 years . Am doing my payment yearly through on-line banking this policy covers accidental benefits and critical illnesses .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 19, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I took life insurance jeevan policy from Lic insurance company mainly because of the good returns, its 20 years of tenure period , the payment am doing through on-line monthly . There customer service and customer response is good .This policy covers accidental and critical illness coverage .
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jun 19, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have taken life insurance Money back policy from Life insurance Corporation of India. Am satisfied with the premium amount of Rs 7000 which has the tenure period of 20 years . There customer service and response is good. Overall am satisfied with the policy.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jun 19, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I've a life insurance policy with the LIC. It offers Accidental and Life coverage in one policy . I pay a premium of Premium 4900 per year. I make payments via Cheque and online LIC website. I never faced any issue with the policy so far. Overall ti has been a good experience with their services.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 18, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've an insurance policy with the LIC. I make payments via the LIC website . I also got loans out of the policy for 60000 and the whole process of loan application was quick and got the loan amount with in 3 working days. Overall it has been a smooth experience with the LIC policy.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 18, 2018
    Common Loader Icon
    Page 1 of 50 1 2 3 4 5
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.