LIC Komal Jeevan Plan

Komal Jeevan policy offered by LIC is a children's money back plan which offers financial protection against the event of demise during the plan's term and periodic payments in case the assured survives. The grandparent or the parent can purchase this LIC money back plan for a child, whose age is between 0 to 10 years.

Eligibility Conditions for LIC Komal Jeevan

Minimum age of the child 0 years
Maximum age of the child 10 years

Key Features of LIC Komal Jeevan

Plan type Children's insurance
Risk cover commencement The risk starts two years from the commencement date of the policy or from the immediate anniversary of the policy that comes after the child completes seven years of age, whichever is later.
Premiums The premiums for this particular policy can be paid on monthly, quarterly, half-yearly or yearly basis. You may also pay the premiums via salary deductions. The premiums can be paid till the policy anniversary that comes immediately after the child (assured) reaches the age of eighteen years or till the assured's early death. You may also choose to pay single premium by paying a lump sum amount.
Guaranteed Additions A guaranteed addition of Rs. 75 for every one thousand of the assured sum is provided by the policy after each year is completed. The payment of these guaranteed additions will take place either at the end of the policy's term or after the demise of the assured.
Loyalty Additions The payment of the loyalty addition depends on the Corporation's experience. If the Corporation makes profits with its life insurance business then the policy gets a share of these profits. The bonuses are payable along with maturity benefits or after the event of death.

Benefits / Advantages of LIC Komal Jeevan

  • Death Benefit - In the event of the demise of the assured, prior to commencement of risk, the plan shall be cancelled and the premiums that are paid under the plan shall be refunded. This refund will exclude the premium paid for the waiver benefit. In case, the death of the assured happens after the commencement of risk but prior to the maturation of the policy then the entire assured sum along with the Guaranteed Additions and Loyalty Additions will be payable.
  • Maturity Benefit - The Loyalty Additions along with the Guaranteed Additions will be paid upon survival till the end of the term of the policy.
  • Premium Waiver Benefit - This particular optional benefit can be an addition to the basic plan. You must pay an additional premium to enjoy this benefit. The advantage of termination of premiums can be secured by the proposer from death till the end of deferment period.
  • Surrender Value - Purchasing a Life Insurance Policy is a very long commitment. By paying the surrender value, you may choose to terminate the contract at an earlier stage.
  • Guaranteed Surrender Value - After the commencement of the policy, it must run for a period of three years before it can be surrendered. Guaranteed Surrender Value prior to risk commencement date is 90 percent of the premiums. However, this is excluding the premiums that have been paid in the first year. After the risk commencement date, the Guaranteed Surrender Value is 90 percent of the premiums that are paid before the risk commencement date. This is excluding any premium paid in the first year along with 30 percent of premiums that are paid after the risk commencement date.
  • Survival Benefit - The percentage of the assured sum as mentioned in the table below is payable upon survival till the end of the specified durations
On anniversary of the policy that is immediately after the assured's age of Percentage of the assured sum
18 years 20 percent
20 years 20 percent
22 years 30 percent
24 years 30 percent

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

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LIC Komal Jeevan Plan Reviews

Page 1 of 50 1 2 3 4 5
  • LIC Life Insurance
    "Secured policy"
    0.5 4.5/5 "Excellent!"
    I got Money Back policy from LIC. It was taken on 14 years back. The tenure period of 20 years. The premium amount need to pay on half yearly basis of 2,480 rupees. Evey 5 years I get good returns from their end. So far I have not faced any charge. I use to remainder and update from my agency.
    Was this review helpful? 1
    , darbhanga
    Reviewed on Mar 19, 2020
  • LIC
    LIC Life Insurance
    "Good insurer"
    0.5 5.0/5 "Blown Away!"
    I got a money back policy from LIC hence taken on 12 years back. I am paying premium on quarterly package the amount of 6K which is nominal. While getting a policy the agent has given an information about all details and received the hard copy documents on time. It covers up to myself only.
    Was this review helpful? 1
    , rajahmundry
    Reviewed on Mar 18, 2020
  • LIC Life Insurance
    "Very good"
    0.5 5.0/5 "Blown Away!"
    My Aunt is working in LIC, she only suggested me to take this Life Insurance policy. I am paying annual premium of Rs. 30,000 which is auto debited from my account. This policy benefits are clearly explained to my mom and she knows it better than me. Its a money back policy taken last 2 years back.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Mar 18, 2020
  • LIC Life Insurance
    "Trustable policy"
    0.5 5.0/5 "Blown Away!"
    LIC is a evergreen and trust able company without any problem anyone can take the policy by closing their eyes. Therefore, I have chosen the money back policy by considering the future benefits. I pay the premium amount of Rs. 2000 on a monthly basis. This policy has a term period of 15 years. I pay the premium through online.
    Was this review helpful? 0
    , chennai
    Reviewed on Mar 16, 2020
  • LIC Life Insurance
    "Good service "
    0.5 3.0/5 "Satisfactory"
    I am using LIC Money back policy more than five years and i am paying premium of Rs. 9,000. After maturity i will be getting good returns and their service was good. This insurance policy covers any risk or any uncertainty demise. Overall am satisfied.
    Was this review helpful? 0
    , medak
    Reviewed on Mar 14, 2020
  • LIC Life Insurance
    "Good policy"
    0.5 3.0/5 "Satisfactory"
    From LIC, i have taken a Money back policy and i am paying premium once in 6 months. I have opted for the tenure period of 15 years and i have completed the policy and got maturity amount also. I paid the premium through agent and he clearly informed benefits of this policy.
    Was this review helpful? 0
    , medak
    Reviewed on Mar 14, 2020
  • LIC Life Insurance
    "Good policy"
    0.5 4.0/5 "Great!"
    I taken a money back policy from Life Insurance Corporation of India. Its because of the tax benefits, I have purchased this policy. Every 5 years i will get the return to my hand. I am paying the premium amount of Rs. 4,000 per quarter. I pay the premium through net banking by using my credit card. This is a long term policy which as a term of 21 years.
    Was this review helpful? 0
    , chennai
    Reviewed on Mar 11, 2020
  • LIC Life Insurance
    "Good service"
    0.5 5.0/5 "Blown Away!"
    I have taken life insurance policy directly through lic agent.This was a money back policy of jeevan bhima and the agent shared all the relevant information about the policy.I am paying the premium through online and the policy tenure is for 15 years and the premium is paid on quarterly basis .Once the tenure is completed will get money and this policy is taken for family benefits .
    Was this review helpful? 0
    , pune
    Reviewed on Mar 10, 2020
  • LIC Life Insurance
    "Good insurer"
    0.5 4.0/5 "Great!"
    Since LIC is a government company they have provided good benefits for the policy holder, hence I chosen money back policy. I taken this policy on 20 years back. The tenure period of 25 years. The premium amount need to pay of 600 rupees on quarterly basis. It covers up to myself. The coverage amount of 2L and 5 years once I get some bonus amount.
    Was this review helpful? 0
    , bangalore
    Reviewed on Mar 08, 2020
  • LIC Life Insurance
    "Fair policy"
    0.5 3.5/5 "Pretty good"
    Chosen the money back policy from LIC because of the tax filling purpose. I make the premium through cheque with the agent who will come to my home for collecting the money. They have provided me a sum assured amount of Rs. 3 lakhs and a premium amount of Rs. 24K which i'm paying on annual basis.
    Was this review helpful? 0
    , kolkata
    Reviewed on Mar 03, 2020
  • LIC Life Insurance
    "Excellent Service"
    0.5 5.0/5 "Blown Away!"
    I have taken jeevan anand policy which is a money back policy taken through Lic agent .This is for the tenure of 22 years and the premium is paid through yearly basis .I am paying the premium amount of Rs.13000 and paying through lic office .The agent shared all the details about the policy very clearly .
    Was this review helpful? 0
    , ghaziabad
    Reviewed on Mar 03, 2020
  • LIC Life Insurance
    "Best Service"
    0.5 5.0/5 "Blown Away!"
    I have taken life insurance policy which was a Jeevan saral policy, it is a money back policy for the tenure of 22 years. This policy is still active and the premium is paid on monthly basis through cash.The policy documents are got on time and he premium amount is Rs.2000 and this was availed for family benefits .
    Was this review helpful? 0
    , ghaziabad
    Reviewed on Mar 03, 2020
  • LIC Life Insurance
    "Good service"
    0.5 3.5/5 "Pretty good"
    I have taken life insurance policy through LIC agent. This was a money back policy. The policy tenure is 15 years and will be receiving the amount after 2months .This premium was paid on half yearly basis through lic office directly .I have not faced any issues so far .
    Was this review helpful? 0
    , ghaziabad
    Reviewed on Mar 02, 2020
  • LIC Life Insurance
    "Good Policy"
    0.5 5.0/5 "Blown Away!"
    Chosen my life insurance policy from LIC because it is a very good company and its a back bone of India. I was having a money back policy because the policy returns for every 5 years will be useful for us. Already the policy got matured. I have paid the premium amount of Rs. 1800 for half yearly.
    Was this review helpful? 1
    , allahabad
    Reviewed on Mar 02, 2020
  • LIC Life Insurance
    "Best policy"
    0.5 4.0/5 "Great!"
    I have taken Life Insurance Policy from LIC. Its a money back policy which is very useful for my family. The policy tenure is for 20 years and i have completed 4 year already. I will be getting the policy benefits after 20 years with some returns.
    Was this review helpful? 1
    , mumbai
    Reviewed on Feb 29, 2020
  • LIC Life Insurance
    "Best Service"
    0.5 5.0/5 "Blown Away!"
    I have taken life insurance policy through lic agent .This was a money back policy and the agent shared the whole process of this policy .This policy is useful for my family and there was no drawbacks faced so far .The policy tenure is for 20 years and premium is paid on half yearly basis .
    Was this review helpful? 1
    , kolkata
    Reviewed on Feb 28, 2020
  • LIC Life Insurance
    "Best policy"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance policy from LIC .This was a money back policy for the tenure of 20 years and the coverage value for Rs. 3L after maturity i will be getting Rs.6L returns. I am paying premium on annual basis Rs. 18500 through online .
    Was this review helpful? 0
    , chennai
    Reviewed on Feb 24, 2020
  • LIC Life Insurance
    "Good Service"
    0.5 5.0/5 "Blown Away!"
    I have taken life insurance policy directly through LIC agent . This is a money back policy for the tenure period of 15 years. I was paying the premium through online on before but later the premium is paid through agent. Everything was good to me so far. I have closed this policy successfully and the policy details was clearly shared by the agent .
    Was this review helpful? 0
    , ahmedabad
    Reviewed on Feb 22, 2020
  • LIC Life Insurance
    "Best policy "
    0.5 5.0/5 "Blown Away!"
    I have taken life insurance policy through LIC agent which was a money back policy for the tenure period of 10 years. I am paying the premium through yearly basis. I will be getting maturity amount but not sure about the value. Customer service was fine.
    Was this review helpful? 0
    , dindigul
    Reviewed on Feb 20, 2020
  • LIC Life Insurance
    "Good Service"
    0.5 4.5/5 "Excellent!"
    I have taken life insurance policy directly through lic agent .This was a Money back policy and the premium is paid on quarterly basis and the premium amount was Rs.3550.This was paid directly through agent. The process was very good and policy tenure was 15 years only. The policy features and benefits are pretty good .
    Was this review helpful? 0
    , thrissur
    Reviewed on Feb 19, 2020
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