Jeevan,Saral,Policy,with,Doubl finance, share, loan Jeevan Saral Policy with Double accidental Death Benefits
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More than 20 life insurance companies are providing many whole life plans in India. Whole life policies are better than regular savings plans and pure term plans because it has combined features of both term and savings. Jeevan Saral policy from LIC has been in top sold plans in last few years in individual category because of its unique combination of whole life and endowment plan. This plan has won Golden peacock award for this unique combination. Why should you buy Jeevan Saral? Five features that make this a best plan: 1. 250 times death cover of monthly premium 2. Any time maturity after 10 years 3. Special surrender value up to 100% of premium back 4. Tax Benefits for both premium paid and death benefits 5. A little DAB amount makes double your accidental death benefits The above features may or may not be available in other policies but Jeevan Saral holds all the above features. Apart from the said benefits, this plan has better maturity benefits which are maturity sum assured plus Loyalty additions, if any. This is a with-profits plan and participates in the profits of the Corporations life insurance business. It gets a share of the profits in the form of loyalty additions which are terminal bonuses payable along with death benefit or maturity benefit. Loyalty Additions may be payable from the 10th year onwards depending upon the experience of the Corporation. Any time maturity named this policy to LIC ATM Plan also. Life insured can withdraw the maturity sum at any time after 10 years without any extra charges. And again the policy can be continuing with only two premiums left in insurance account. The plan itself can be taken as a pension plan by withdrawing partial maturity at specific time periods. Jeevan Saral Policy table 165 has special surrender value. Life insured get 100% of premium paid back in case the policy is being surrendered after 5 years under special surrender value. Same will be 90% and 80% in case the policy has completed 4 and 3 years respectively. Death benefit in normal death case is 250 times, plus loyalty additions, if any, plus premium paid excluding first year premium and extra premiums. In case of accidental death in case DAB is taken, the death benefits will be 500 times instead of 250 times. Premiums are payable yearly, half-yearly, quarterly, or monthly through salary deductions as chosen by life insured throughout the term of the policy or till earlier death. Loan can be avail against Jeevan Saral after 3 years. The interest rate charged for Loan will be 9% and may change time to time.
Jeevan,Saral,Policy,with,Doubl