LIFE INSURANCE CORPORATION OF INDIA
LIC’S JEEVAN VAIBHAV (PLAN NO. 809) FREQUENTLY ASKED QUESTIONS DURING A SALES TALK
What are the highlights of LIC’s Jeevan Vaibhav? LIC’s Jeevan Vaibhav is a Life insurance Plan especially designed to meet needs of • Insurance • • Wealth creation and Liquidity
What are the key features of LIC’s Jeevan Vaibhav? Single Premium non-linked endowment assurance plan. Maturity Benefit : Sum Assured and Loyalty Addition#. Liquidity : Facility for loan. Life Cover : Full Sum Assured Payable on death during the term. #
Loyalty Addition, if any, payable on Death, if it occurs during the last
policy year or on maturity. Please explain the Maturity and Life Cover Benefits under the plan. The Maturity Benefits under LIC’s Jeevan Vaibhav plan include the Sum Assured and Loyalty Addition, if any. For a person aged 35 years, paying a premium of Rs.95730/-, the Sum Assured shall be Rs. 200000/- . The Details of benefits payable are as under:-
Benefit Illustration Age Policy Term Single Premium Amount 35 years 10 years 95730/-*
Sum Assured payable on death or 200000/maturity Loyalty Addition payable on death during the last policy year or on maturity: Assuming 6% p.a. return Nil 25,000/Assuming 10% p.a. return * Premium shown above is exclusive of service tax.
Am I eligible to take the plan? The Plan is available for person between 8 to 65 years of age.
Eligibility Conditions Age at entry Policy Term Sum Assured Premium Mode Others 8 years to 65 years 10 years Rs.200000/- onwards in multiple of 10000/Single Service Tax at the prevailing rate applicable on premium.
What is the maximum amount of premium that I can pay? There is no upper limit on the premium. Moreover you shall enjoy a rebate of Rs. 2.00‰ in case you opt for Sum Assured between 4 lacs to 5.90lacs and a rebate of Rs3.00‰ for Sum Assured 6 lacs and above.
Can I avail loan under LIC’s Jeevan...
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