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LIC Komal Jeevan Plan

 4.5 / 5.0   by 904 users
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Plan Benefits

Payment Options

Policy Coverage

Customer Service

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

LIC Komal Jeevan Plan Reviews

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  • LIC Life Insurance
    "Good for future investment"
    0.5 4.0/5 "Great!"
    I don't have any query with Money back policy from LIC, they has all the option through online hence I can visit any branch for LIC queries. I get the bulk amount after 20 years , its good for my daughter marriage or education. therefore I make Rs.30,000 per annum.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 17, 2019
  • LIC Life Insurance
    "Good Policy"
    0.5 3.0/5 "Satisfactory"
    I have money back policy policy with LIC, it has premium of Rs. 10,000 per annum. It gives the maturity benefits after 20 years of the tenure period, I used to get the bonus amount around Rs. 40,000 for every five years it has the tax benefits too.
    Was this review helpful? 1
    , malda
    Reviewed on Jan 10, 2019
  • LIC Life Insurance
    "Better to invest"
    0.5 5.0/5 "Blown Away!"
    I have a money back policy from LIC which was taken before 10 years through an agent. Every 4 years once they are providing good benefits like bonus points. The agent was very helpful. I got the insurance paper. I am paying the premium every quarterly 1000 rupees through online.
    Was this review helpful? 1
    , pondicherry
    Reviewed on Jan 09, 2019
  • LIC Life Insurance
    "Good Bonus Policy"
    0.5 4.0/5 "Great!"
    LIC is national insurance company and it has the good reputation. I have taken the policy called money back policy, it has maturity period around 15 to 20 years, I used to get bonus amount every 3 years or 5 years, they have tax benefits and other facilities.
    Was this review helpful? 1
    , thrissur
    Reviewed on Jan 09, 2019
  • LIC Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    I felt the payment option has some difficulties in LIC, they taking lot of time for the payment update, I have policy money back policy it has tenure period around 15 years, the premium amount is Rs. 1500 on quarterly basis, after 5 years they give some bonus interest.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 07, 2019
  • LIC Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    I took this Life insurance Money back policy from Lic insurance company mainly , Its been always safer side as this insurance company belongs to govt . I make the payment through online banking where the amounts get auto debited . I have taken this policy for good returns where i can claim every 5 years.
    Was this review helpful? 1
    , new delhi
    Reviewed on Jan 03, 2019
  • LIC Life Insurance
    "Nice policy"
    0.5 5.0/5 "Blown Away!"
    My money back policy was purchased with Life Insurance Corporation of India. 10 years back, i have taken this policy. I pay the premium amount of Rs. 656 by every month. My premium has been deducted from my salary. This is policy expires on 2035. This is tax benefit policy.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 03, 2019
  • LIC Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been using my life insurance with Life insurance corporation of India since from 2010, i have taken multiple policy from this institution , this policy name is money back policy, like in certain period of time i will be getting my money back, and the premium amount they have charged me was nominal,they charged me on quarterly basis, and the agent had clearly explain me about the policy and benefit coverage.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 02, 2019
  • LIC Life Insurance
    "Good policy to use"
    0.5 5.0/5 "Blown Away!"
    My money back policy was taken in 2012. They have stopped the money back policy now. I have been paying the premium amount of Rs. 1600 in every quarter. Twice i have received the money back to my account. The amount which i have received is a satisfied one. This is a tax benefit policy.
    Was this review helpful? 0
    , coimbatore
    Reviewed on Dec 29, 2018
  • LIC Life Insurance
    "EXCELLENT"
    0.5 5.0/5 "Blown Away!"
    I have taken the life insurance policy with the LIFE INSURANCE CORPORATION OF INDIA and i am using it from past 20 years as i am using the MONEY BACK policy with this policy. The maturity period for this policy is for 20 years. It has the good benefits with this policy.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Dec 21, 2018
  • LIC Life Insurance
    "Good trust in LIC"
    0.5 4.0/5 "Great!"
    I bought the policy in 2004 since I'm an agent hence i have taken my money back policy with LIC. Tenure period of the policy 30 years and i will make the payment on branch which is nearby my place. They are good in returns hence i have selected the insurance in Life Insurance Corporation of India.
    Was this review helpful? 0
    , bangalore
    Reviewed on Dec 21, 2018
  • LIC Life Insurance
    "Best policy"
    0.5 5.0/5 "Blown Away!"
    I am having a life insurance policy with LIC since 1995 and i hold a money back policy. The maturity period for this insurance policy is 15-20 years. I get a money back of Rs 20000 every 5 years. I make payments through ecs and i am convenient with the payment options.
    Was this review helpful? 0
    , bhubaneshwar
    Reviewed on Dec 20, 2018
  • LIC Life Insurance
    "Good bonus before maturity"
    0.5 5.0/5 "Blown Away!"
    In money back policy they give the bonus interest around certain period and also I will get some benefits after the maturity period it has the term of 21 years. LIC policies gives the tax benefits and financial security for natural death and accidental death.
    Was this review helpful? 0
    , chandigarh
    Reviewed on Dec 18, 2018
  • LIC Life Insurance
    "Good policy"
    0.5 4.0/5 "Great!"
    I took this Life insurance Money back policy from Lic insurance company mainly , Its been always safer side as this insurance company belongs to govt . I make the payment through online banking where the amounts get auto debited . I have taken this policy for good returns where i can claim every 5 years.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Dec 16, 2018
  • LIC Life Insurance
    "Best policy in LIC"
    0.5 5.0/5 "Blown Away!"
    My money back policy was taken with LIFE INSURANCE OF INDIA. I pay the premium amount of Rs. 5000 in a month. I have selected LIC because of the returns. I make the premium through ECS. Total tenure period of the policy is 25 years. My friend has referred me about this policy
    Was this review helpful? 1
    , bangalore
    Reviewed on Dec 14, 2018
  • LIC Life Insurance
    "Useful policy"
    0.5 4.0/5 "Great!"
    In the month of February, i have purchased a money back policy from Life Insurance corporation of India. I pay the premium amount of Rs. 15000. Last time i have paid the payment through cheque and in future i make through online. One of sister who is working as a LIC agent has referred this policy.
    Was this review helpful? 1
    , bangalore
    Reviewed on Dec 14, 2018
  • LIC Life Insurance
    "Educational purpose policy"
    0.5 4.5/5 "Excellent!"
    Recently i have purchased the money back policy like 2 years ago from LIC. I am paying the premium amount of Rs. 9000 and i used to make the premium through online. Total tenure period of the policy is 15 years. Recommendable policy for every one.
    Was this review helpful? 0
    , kolkata
    Reviewed on Dec 13, 2018
  • LIC Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been using my life insurance with Life insurance corporation of India, i have taken money back policy for my kids, i use to pay my premium on monthly basis , they have charged me up to 1000 rupees ,i use to pay through on line , the agent had explain me clearly about there policy coverage.
    Was this review helpful? 0
    , hosur
    Reviewed on Dec 08, 2018
  • LIC Life Insurance
    "Trustable company"
    0.5 5.0/5 "Blown Away!"
    LIC is a very safe and secure place for life insurance policies. I will get a money back on my account or i will get cheque. There are so many people are available as an agent here. I have never interacted with the customer care service since i never required it. I can make the payment in a multiple way like paytm, online banking, cash. More than 6 years before, i have purchased this money back policy. I have received a money back to my account. Surety is a must when it comes to LIC.
    Was this review helpful? 0
    , new delhi
    Reviewed on Dec 02, 2018
  • LIC Life Insurance
    "Best LIC policy"
    0.5 5.0/5 "Blown Away!"
    The premium amount will be deducted from my salary. One of the LIC agent who referred me to take the policy. 15 years back i have purchased the money back policy. I have paid the premium amount of Rs. 125. The total sum assured amount is Rs. 20000. The policy is going to over by next year. Every 4 years, i have got the returns Rs. 4000 in every 4 years.
    Was this review helpful? 0
    , chennai
    Reviewed on Dec 02, 2018
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