Jeevan Sangam
This plan is no longer available.
Please choose from other LIC plans below:
U/S 80 C : Premiums paid under this plan are eligible for tax rebate u/s 80C.
U/S 10(D) : Maturity Returns / Death claim amount is also tax free u/s 10 (D)
On Survival till maturity
Please choose from other LIC plans below:
Other LIC Plans | |||
---|---|---|---|
Term Plans | Endowment Plans | Money-Back Plans | Children Plans |
Anmol Jeevan | New Endowment Assurance | Money-Back 20 years | Jeevan Tarun |
Amulya Jeevan | New Jeevan Anand | Money-Back 25 years | Children's Money Back |
Jeevan Lakshya | |||
Jeevan Rakshak | |||
Limited Premium Endowment |
Jeevan Sangam (This plan is withdrawn)
Jeevan Sangam (Plan No. 831)
LIC's Jeevan Sangam is a single premium, savings cum protection plan. The proposer will have an option to choose the Maturity Sum Assured. The single premium payable (exclusive of service tax) shall depend on the chosen amount of Maturity Sum Assured and age of the life assured.
Features
- The plan is open for only 90 days from the launch date
- The term of this plan is 12 years
- Risk cover is ten times of the basic single tabular premium
- Loan can be taken against the policy
- Tax benefit (u/s 80C and u/s 10D)
Eligibility Conditions
Minimum age at entry
|
6 years
|
Maximum age at entry
|
50 years
|
Policy Term
|
12 years
|
Minimum Maturity Sum Assured
|
Rs 75,000/-
|
Maximum Maturity Sum Assured
|
No higher limit
|
Mode of Payment
|
Single Only
|
Tax Benefit
U/S 10(D) : Maturity Returns / Death claim amount is also tax free u/s 10 (D)
Commencement of Risk
For Life Assured less than 8 years: In case the age at entry of the Life Assured is less than 8 years, the risk under this plan will commence one day before the policy anniversary coinciding with or immediately following the completion of 8 years of age.
For Life Assured aged 8 years or more: For those aged 8 years or more, risk will commence immediately.
Possible Events during policy duration
On Death before commencement of risk
If the policy holder dies before the commencement of risk, refund of single premium paid excluding the extra premium and service taxes is made to the nominee.
If the policy holder dies before the commencement of risk, refund of single premium paid excluding the extra premium and service taxes is made to the nominee.
On Death after commencement of risk
In case, the policy holder dies after the commencement of risk, nominee will get following, and the policy will terminate after that.
1. 10 times of tabular single premium (excluding taxes)
2. Loyalty Additions (if any)
In case, the policy holder dies after the commencement of risk, nominee will get following, and the policy will terminate after that.
1. 10 times of tabular single premium (excluding taxes)
2. Loyalty Additions (if any)
On Maturity
On Maturity, the Maturity Sum Assured along with the loyalty additions is payable
Loyalty Additions
Depending upon the Corporation’s experience, the policy shall participate in the profits in the form of Loyalty Addition. The Loyalty Addition, if any, shall be payable on death or surrender, provided the policy has run for atleast five policy years, or on policyholder surviving to the maturity, at such rate and on such terms as may be declared by the Corporation.Understand Jeevan Sangam with an example
Mrs. Preety aged 30 years, plans to take Jeevan Sangam Plan for herself. She chooses the Maturity Sum Assured of Rs 1,00,000.00 (Rupees One Lakh only).
She is required to pay a single premium of Rs 49,860.00 (Rupees Forty Nine Thousand Eight Hundred and Sixty only).
She is required to pay a single premium of Rs 49,860.00 (Rupees Forty Nine Thousand Eight Hundred and Sixty only).
Possible Events
Commencement of Risk
The risk cover on Preety's life will begin immediately because she is above 8 years of age.
On Death
On Death
If Preety dies during the policy term, her nominee will receive 10 times of single tabular premium (excluding taxes) + Loyalty additions (if any). After this, the policy will terminate.
On Survival till maturity
If Preety survives till the end of policy term, she will get the Maturity Sum Assured along with the Loyalty Additions (if any).
Other LIC Plans | |||
---|---|---|---|
Term Plans | Endowment Plans | Money-Back Plans | Children Plans |
Anmol Jeevan | New Endowment Assurance | Money-Back 20 years | Jeevan Tarun |
Amulya Jeevan | New Jeevan Anand | Money-Back 25 years | Children's Money Back |
Jeevan Lakshya | |||
Jeevan Rakshak | |||
Limited Premium Endowment |