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2. JEEVAN SHAGUN The best plan for tax savings Single premium
with more insurance coverage Best return
3. Features LIC's Jeevan Shagun is a participating, non-linked,
savings cum protection single premium plan wherein the risk cover
is a multiple of single premium. 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. A percentage of
Maturity Sum Assured shall be payable on surviving to the end of
the specified durations and on maturity. This plan also takes care
of liquidity need through its loan facility. The plan will be open
for sale for a maximum period of 90 days from the date of
launch.
4. Benefits Death Benefit: On death during first five policy
years: Basic Sum assured i.e. 10 times the tabular single premium
shall be payable. On death after completion of five policy years:
Basic Sum assured i.e. 10 times the tabular single premium along
with Loyalty Addition, if any, shall be payable.
5. Benefits Survival Benefit: On Life Assured surviving to the
end of the specified durations, the following Survival benefit
shall be payable. At the end of 10th policy year: 15% of the
Maturity Sum Assured. At the end of 11th policy year: 20% of the
Maturity Sum Assured.
6. Benefits Maturity Benefit: On maturity, 65% of the Maturity
Sum Assured along with Loyalty Addition, if any, shall be
payable.
7. Benefit Illustration Basic Details- Sum Assured: Rs 1,00,000
Age at Entry: 30 yrs Term: 12 yrs Single Premium: Rs 53,736 (52,125
+ 1,611) Approximate Maturity Returns- Risk Cover (10 times of the
premium paid): Rs 5,21,250 End of 10th year 15% MSA: Rs 15,000 End
of 11th year 20% MSA: Rs 20,000 Loyalty Addition: Rs 5,000 Maturity
(SA + IB + FB): Rs 70,000
8. Eligibility Conditions & Other Restrictions Minimum
entry age : 8 years(completed) Maximum entry age : 45 years
(nearest birthday) Policy term : 12 years Sum Assured : 10 times of
tabular premium Minimum Maturity SA : Rs 60,000 Maximum Maturity SA
: No Limit (Sum Assured will be in multiples of Rs.5,000 /- only)
Premium payment mode : Single Premium
9. High Sum Assured Rebate Sum Assured (S.A) Rebate (Rs.) Below
1,50,000 Nil 1,50,000 to 3,95,000 Rs 15 per 1000 on M.S.A. 4,00,000
& Above Rs 20 per 1000 on M.S.A.
10. Loan Facility Loan can be availed under this plan any time
after completion of one policy term and subject to terms and
conditions as the Company may specify from time to time.
11. Surrender Value The policy can be surrendered for cash at
any time during the policy term. The minimum Guaranteed Surrender
Value allowable shall be as under: First year: 70% of the Single
premium excluding extra premiums and taxes, if any. Thereafter: 90%
of the Single premium excluding taxes, any extra premium paid and
survival benefits, if paid earlier. The Corporation shall pay
Special Surrender Value as applicable as on date of surrender
provided the same is higher than Guaranteed Surrender Value. If the
policy is surrendered after completion of five policy years Loyalty
Addition, if any, based on surrender value, shall also be
payable.
12. Cooling-off Period If the Policyholder is not satisfied
with the Terms and Conditions of the policy, the policy may
returned to the Corporation within 15 days from the date of receipt
of the policy stating the reason of objections. On receipt of the
same the Corporation shall cancel the policy and return the amount
of single premium deposited after deducting the proportionate risk
premium for the period on cover, stamp duty charges and any charges
incurred on medical examination and special reports.
13. Yours wellwisher professional insurance and investment
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