Skip to main content

Get 5 Lakh at Maturity with LIC Jeevan Azad Policy

Get 5 Lakh at Maturity with LIC's New Insurance Policy 'Jeevan Azad'

Life Insurance Corporation of India (LIC), Jeevan Azad policy (Plan No. 868) is a scheme for personal savings and life insurance. Jeevan Azad is a limited premium endowment plan and a non-participating, non-linked individual savings life insurance plan as per LIC.

LIC Jeevan Azad Policy offers a guaranteed lump sum payment on the maturity date of the survivour.

Benefits of LIC Jeevan Azad

A limited premium payment option is available under the LIC Jeevan Azad plan, with the premium paying term being 8 years less than the policy term. The plan aims to provide financial help to the family in case of an untimely death of the life insured during the policy term.

Assured Returns:

THe insurer under the LIC Jeevan Azad Plan would receive a minimum basic payment assured of Rs. 2 lakhs and the highest basic amount guaranteed is Rs. 5 lakhs, 15 to 20 years can be added to the policy's term.

Age limits for the policy:

The minimum entry age for this plan is 90 days, and the maximum entry age is 50 years.

Premium Payment Term Calculation & Frequency:

LIC will deduct 8 years from the policy term to determine the premium-paying term. Thus, if the investor chooses a 20-year policy term, he will be responsible for 12 years of premium payments (20-8).

The premium can be paid on a recurring basis at intervals of annually, half-yearly, quarterly, or monthly.

Investment Plans:

A beneficiary would receive Rs 500,000 at the end of the term if he paid the premiums of Rs 25,120 in the first year and Rs 24,578 from the second year to 12 years. The beneficiary will have spent a total of Rs 2,95,478 on the premium.

Exit Plans:

The policy can be cancelled after two years and at least two complete premium payments.

Benefits After Investor’s Death:

The death benefit is paid under the new plan upon the death of the life insured during the policy term. It is granted after the beginning of the risk but before the maturity date. The death benefit is defined as the "Sum Assured on Death," which is the greater of the "Basic Sum Assured" or "Seven Times Annualized Premium."

The Death Benefit cannot be less than 105% of "Total Premiums Paid" up to the date of death as per LIC.

Recent Posts

Popular posts from this blog

Nagarhole National Park Safari Booking Online

Nagarhole National Park Safari Booking Online There is good news for all wildlife enthusiasts and tourists who were appealing to the forest department to introduce online ticket booking system for safari in the Nagarahole national park. All wildlife enthusiasts and tourists wishing and requesting the forest department to begin online ticket booking system for safari in the Nagarahole national park would be happy to know that Nagarhole safari booking online is now active and fully operational. Nagarhole Safari Ticket Booking has been started to bring in more transparency as well as facilitating tourists to plan and book tickets for their safari in advance. It was a demand from the people at large, mostly from Bengaluru, Karnataka and neighbouring states like Kerala and Tamil Nadu who quite often visit the Nagarhole national park to start the online ticket booking system. Nagarhole National Park  Nagarahole (or Nagarhole) name is derived from a windy river named Nagara Ho

Lucknow Jal Sansthan Online Payment, Online Water Bill Payment Lucknow

Lucknow Jal Sansthan Online Payment, Online Water Bill Payment Lucknow Lucknow Jal Sansthan online Payment is now available from November 2016. To facilitate online payment of water and sewer taxes online, you can use the Lucknow Jal Sansthan's online portal from November. From this month, i.e November onwards, you can use the Lucknow Jal Sansthan online portal to facilitate people to pay their tax dues and arrears online and make e-payments faster without having to reach Jal Sansthan's zonal office for water tax payment. As per Jal Sansthan general manager S K Verma, "The portal facility would be launched initially from zone 8 to see the response and check the portal's performance. Soon, it will be launched across Lucknow." Zone 8 includes colonies on Rae Bareli Road and Sultanpur Road like Vrindavan Yojna, Telibagh, South City, and colonies near PGI, Ruchi, Rashmi and Rajni Khands, Eldeco Udyan II, etc. The Lucknow Jal Sansthan online portal is being ch

MCD Property Tax Payment Online 2022-23

Property Tax Delhi Online Payment, Property Tax Online Delhi NDMC, SDMC, EDMC Steps to Pay MCD Property Tax online Following are the steps you need to follow in order to       : Visit the official website of MCD here - On the home page, choose and select between North Delhi Municipal Corporation, South Delhi Municipal Corporation, or East Delhi Municipal Corporation for which the property tax needs to be paid.  As you select one of the option, page redirects after you click on Online Services.  Now under the page heading Online Services, hover your mouse over Property Tax and click Citizen Login. A new page opens, now Login using your Mobile Number and OTP or Using Login ID and Password. Suppose you entered your mobile number clicked Generate OTP, then you get the message "OTP generated successfully and valid for 3 minutes". Now enter OTP you received on your mobile in the space provided and click Login. After successful login, you will be greeted w