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Jeevan Tarang

Jeevan Tarang (This plan is no longer available)

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*** To buy a new LIC plan call Vikas 99111-70785 ***


Jeevan Tarang (This plan is no longer available)









Jeevan Tarang (Plan No. 178)

This is a whole life pension plan which provides for annual survival benefit at a rate of 5½ % of the Sum Assured after the chosen Accumulation Period. The plan offers three Accumulation periods – 10, 15 and 20 years. A proposer may choose any of them.


The vested bonuses in a lump sum are payable on survival to the end of the Accumulation Period or on earlier death. Further, the Sum Assured, along with Loyalty Additions, if any, is payable on survival to age 100 years or on earlier death.

Accumulation Period is the premium payment term of the policy wherein the customer accumulates the fund to reap benefits later-on.

Features

• A whole life pension plan
• Additional accidental sum assured
• Double Tax benefit
• Option to choose among 10, 15 and 20 years accumulation period (Premium payment term)
• Bonus amount is payable after completion of accumulation period



Eligibility Conditions



Minimum age at entry
0 years
Maximum age at entry
60 years
Available Terms (Accumulation Periods)
10, 15 and 20 years
Minimum age at the end of Accumulation Period
18 years
Maximum age at the end of Accumulation Period
70 years
Age up to which life cover available
100 years
Minimum sum assured
Rs 1,00,000.00 (Rupees One Lakh)
Maximum sum assured
No higher limit




Eligibility for Accidental Benefit Rider

• Available only for the accumulation period
• Maximum accidental sum assured available is Rs. 50,00,000/-



Double Tax Benefit


U/S 80 C  : Premiums paid under this plan are eligible for tax rebate u/s 80 C

U/S 10(D) : Maturity Returns / Death claim amount is also tax free u/s 10 (D)



Possible Events during policy duration


On Death during accumulation period
If the policy holder dies during the accumulation period, his/her nominee will be paid the sum assured along with the accrued bonuses after which policy will terminate.

On Accidental Death during accumulation period
In case, the policy holder dies due to an accident during the accumulation period, nominee will get the sum assured + additional accidental sum assured + Accrued bonuses and the policy will terminate after that.

On Maturity
The policy holder will get the Sum Assured along with the accrued bonuses. The policy will terminate after that.


*** To buy a new LIC plan call Vikas 99111-70785 ***
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