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LIC introduced JEEVAN SANGAM (Plan No.831), a close ended plan open for sale from 4th March, 2015 for a maximum period of 90 days. Download Plan 831 Circular
LIC’s Jeevan Sangam is a non-linked, with-profit, single premium plan which provides for high level of
death cover during the policy term.
Under this plan, the Proposer/ Life Assured will have an option to choose the Maturity Sum Assured and the
single premium payable will depend on the chosen amount of Maturity Sum Assured and age of the life
The benefits and other details of this plan are given below.
a) Death Benefit:
On death during first five policy years:
Before the date of commencement of risk: Refund of single premium excluding service tax and
extra premium, if any, without interest.
After the date of commencement of risk: Basic Sum assured i.e. 10 times the tabular single
premium shall be payable.
On death after completion of five policy years but before the stipulated Date of Maturity:
Basic Sum assured i.e. 10 times the tabular single premium along with Loyalty Addition, if any,
shall be payable.
The Tabular single premium mentioned above does not include any extra premium or taxes and is before applying
New introduced Plans LIC’s New Children Money Back
On the Life Assured surviving to the end of the policy term, the Maturity Sum Assured along with
Loyalty Addition, if any, shall be payable.
c) Loyalty Addition:
The policies under this plan shall be eligible for share in surplus (profits) in the form of Loyalty Addition,
depending upon the experience of the Corporation. The Loyalty Addition, if any, shall be payable at
such rate and on such terms as may be declared by the Corporation, on death or surrender, provided the
policy has run for at least five policy years or on policyholder surviving to the maturity.
3. Eligibility Conditions and Restrictions:
a) Minimum Entry Age : 6 years (completed)
b) Maximum Entry Age : 50 years (nearer birthday)
c) Mode of premium payment : Single premium
d) Minimum Maturity Sum Assured : Rs.75,000/-
e) Maximum Maturity Sum Assured : No Limit
f) Policy Term : 12 years
Except for minimum Maturity Sum Assured of Rs.75000/-, higher Maturity Sum Assured than this
amount shall be in multiple of Rs. 10000/- only.
Age at entry for the Life Assured is to be taken as age nearer birthday except for the minimum age at
entry i.e. 6 years, where it is in completed years.
Date of commencement of risk: In case the age at entry of the Life assured is less than 8 years nearer
birthday, the risk under this plan will commence from one day before the policy anniversary coinciding
with or immediately following the age of 8 years (nearer birthday).
For those aged 8 years (nearer birthday) or more, risk will commence immediately.
Download Plan 831 Circular
Download LIC’s New Children’s Money Back Plan circular