Tuesday, 5 September 2017

LIC Jeevan Utkarsh Plan 846


LIC Jeevan Utkarsh Plan 846

Product Summary:
LIC’s Jeevan Utkarsh is a single premium, non-linked, with-profits, savings cum protection plan wherein the risk cover is ten times of Tabular Single Premium.

Premium Payment Mode:
Single Premium

Term:
12 Year

Minimum Entry Age:
6 years (completed)

Maximum Entry Age: 47 years (nearer birthday)

Minimum Sum Assured :75,000

Maximum Sum Assured :NO LIMIT (Depending upon Income)

Basic Sum Assured shall be in multiples of:
Rs. 5,000 – if Basic Sum Assured under a policy is below Rs. 3,00,000

Rs. 20,000 – if Basic Sum Assured under a policy is Rs. 3,00,000 and above

Policy Benefits :
On Death :
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.

On Survival:At Maturity Time :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

Surrendered Value:The policy can be surrendered at any time during the policy term subject to realization of the premium cheque.

Loan:Loan facility shall be available under the plan at any time during the policy term after three months of the policy issuance.

Income Tax Benefit:• Premium paid under this plan is eligible for TAX rebate under section 80c.
• Maturity under this plan is Tax free under sec 10(10D).