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
    "Good investment plan"
    0.5 5.0/5 "Blown Away!"
    I took my money back policy 5 years back. Other than the investment plan, money back policy is better. I have been paying the premium amount of Rs. 8000. I have chosen the half yearly payment mode. Total term period is 20 years. I got the money back directly to my account.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jul 16, 2019
  • LIC
    LIC Life Insurance
    "Good insurer"
    0.5 4.0/5 "Great!"
    I have taken a life insurance in LIC on 4 years before. The policy is for 20 years and it is a money back policy. I am paying premium in the quarterly package. While getting a policy my agent has given an information about the policy details but delay to receive the documents. I use to do payments through an online.
    Was this review helpful? 0
    , chennai
    Reviewed on Jul 16, 2019
  • LIC Life Insurance
    "Moneyback policy was good one"
    0.5 4.0/5 "Great!"
    Those times the LIC was only insurance company which provides life support thats the reason i have chosen the LIC. I took the money back policy. Every 5 years i get the money back into my account. Its a 25 years term policy and i completed the payment on 2018 paying everything hence in 2025, it will get matured. I'm satisfied with the sum assured amount.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jul 13, 2019
  • LIC Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    MONEY BACK policy i am using with the LIFE INSURANCE CORPORATION OF INDIA where there are no issues i am facing with the policy also i am using from last 89 years, the premium paying for yearly once, i am getting money back with th policy. I got hard copy with the policy.
    Was this review helpful? 0
    , thane
    Reviewed on Jul 13, 2019
  • LIC Life Insurance
    "Money back policy is good"
    0.5 5.0/5 "Blown Away!"
    I just availed the insurance policies from Life insurance corporation of India. LIC has debited my amount every year and the return the amount on time without any request. My policy was money back policy. I have been paying the premium amount of Rs. 7200 for every year.
    Was this review helpful? 0
    , jaipur
    Reviewed on Jul 03, 2019
  • LIC Life Insurance
    "Very Good Government company"
    0.5 5.0/5 "Blown Away!"
    In the year of 2005, i have taken the money back policy. I have been paying the premium of RS. 899 every quarter. I make the online payment. I have received the cash back to my account twice and i'm happy about the returns. I have gone through with my friends who recommended me about the LIC.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jun 24, 2019
  • LIC Life Insurance
    "LIC policy is always super"
    0.5 5.0/5 "Blown Away!"
    Since its a traditional company, i have chosen the LIC. The claim experience would be best. I have taken a money back policy three times. I am paying the premium amount of Rs. 400. I have got the policy 10 years back. Two times, the money has credited to my account and I'm satisfied with the returns.
    Was this review helpful? 0
    , chennai
    Reviewed on Jun 24, 2019
  • LIC Life Insurance
    "Best Policy"
    0.5 5.0/5 "Blown Away!"
    Because of the best support and service i have chosen the LIC. I have purchased my money back policy in the year of 2013. I have been paying the premium of Rs. 40000. I directly visit the LIC branch to pay the premium. The staffs are giving me proper response.
    Was this review helpful? 0
    , tirupur
    Reviewed on Jun 23, 2019
  • LIC Life Insurance
    "EXCELLENT"
    0.5 5.0/5 "Blown Away!"
    I have purchased the MONEY BACK policy with the LIFE INSURANCE CORPORATION OF INDIA where i got money backs once which is good. The maturity period of this policy is for 20 years and premium paying for monthly once in this policy, the overall service is good.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jun 22, 2019
  • LIC Life Insurance
    "LIC is a part of Indian Government"
    0.5 4.0/5 "Great!"
    My LIC policy is running from last 20 years. I have chosen the money back policy. For that policy, the amount will be auto deducted from my account. I got the money back in after mentioned intervals and I'm satisfied with the growth as well. My parents has suggested me about the LIC policy. Till date lots of paper works are there and they can be convert into electronic like others.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jun 19, 2019
  • LIC Life Insurance
    "Good Service"
    0.5 4.0/5 "Great!"
    I have taken Life Insurance policy through LIC agent .This policy is a Money back policy and it is for the tenure of 15years .This premium is paid on quarterly basis ,I have got all the relevant details about the policy .I am completely satisfied with the service .I have got the policy documents on time .
    Was this review helpful? 0
    , bangalore
    Reviewed on Jun 18, 2019
  • LIC Life Insurance
    "Good Service"
    0.5 2.0/5 "Expected more"
    I have Life Insurance policy which was taken through LIC agent .This is a money back policy it is for the tenure of 15years paying the premium on yearly basis ,I am paying the premium through online ,The premium is nominal and got all the required details about the policy through the agent .
    Was this review helpful? 0
    , chennai
    Reviewed on Jun 17, 2019
  • LIC Life Insurance
    "Good Service"
    0.5 5.0/5 "Blown Away!"
    I have taken Life Insurance policy through LIC agent directly .This is a Money back policy and the tenure is for 15 years.There was no drawbacks faced so far.I have got all the details through the agent .This policy is very useful and it is still active only .I have got my policy documents on time .
    Was this review helpful? 0
    , coimbatore
    Reviewed on Jun 14, 2019
  • LIC Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I am using the money back policy with the LIFE INSURANCE CORPORATION OF INDIA and i am using it since for the last 4 years and I got no money back bonus so far with this policy. The premium is payed through online for yearly once. The coverage is for family. The maturity is for long term also it has the life coverage after the maturity.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jun 13, 2019
  • LIC Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I am holding a MONEY BACK policy with LIFE INSURANCE CORPORATION OF INDIA where the policy has the maturity period of 16 years and using it for the last 7 years. I am getting the money back, I got 10K so far. It gives the self coverage in this policy.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jun 13, 2019
  • LIC Life Insurance
    "Money back policy is good which we can get in intervals"
    0.5 4.0/5 "Great!"
    I have taken my money back policy from Life Insurance Corporation of India. I already completely one policy which is a one time payment and the received amount was a convenient one and received some extra amount also. I have got the money back to my account when i taken the policy, i have to give my RTGS account details hence the money will be automatically credited my account.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jun 12, 2019
  • LIC Life Insurance
    "If you want money in every 5 years, its a useful policy"
    0.5 5.0/5 "Blown Away!"
    Since i have purchased the money back policy from LIC, every 5 years the money will back and the amount will be credited to my account automatically. 4 years back, i have bought the policy. It has some benefits like i received a bulk amount in every 5 years. I am paying the premium amount of Rs. 90000 per annum. I make the premium through online.
    Was this review helpful? 0
    , ahmedabad
    Reviewed on Jun 11, 2019
  • LIC Life Insurance
    "Good Service"
    0.5 2.0/5 "Expected more"
    I have taken Life Insurance policy through LIC agent ad the name of the policy is Money back policy and the tenure is for 20years and i am paying the premium on monthly basis and the premium amount is Rs. 5000.The service is very good to me and i am very much convenient with the service ,this policy is still active and got the policy documents on time .
    Was this review helpful? 0
    , thane
    Reviewed on Jun 10, 2019
  • LIC Life Insurance
    "Very Good Policy"
    0.5 5.0/5 "Blown Away!"
    Got my money back policy and i have completed all the premium and I'm waiting for the time to withdraw the policy maturity amount. I have chosen the term for 8 years. I have purchased the policy in 2008 and last year i have stopping to make the premium. The maturity amount will be automatically credited to my account.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jun 09, 2019
  • LIC Life Insurance
    "Good for tax saving"
    0.5 3.5/5 "Pretty good"
    I have money back policy from LIC, it was started by my father at 12 years back. On yearly basis I pay Rs. 6000 it has total term of 20 years,the sum assured is good. I got the money back every four bonus I get Rs. 10,000. Considering saving plan but they can increase the benefits for long time. But they have very nice tax saving and accidental cover.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jun 08, 2019
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