LIC JeevanRakshak – Safe Endowment Assurance Policy
LIC JeevanRakshak is a safe and ideal policy for traditional policy holders. This new endowment assurance policy guarantees to provide both protection and saving benefits to policy holders.
The age of entry for policy is ranged from 8 years to 55 years. Maximum maturity age is 75 years. The minimum policy tenure is 10 years and the maximum allowed is 20 years. The minimum sum assured is INR 70,000 and can be chosen by policy holders to a maximum of INR 2 lakhs.
Premiums are payable yearly, half-yearly, quarterly and monthly as chosen by the policy holders. The policy holders who completed their 18 years or more can add accidental riders to this policy by paying additional premium. In case of accidental death, the Accident Benefit Sum Assured will be payable as lumpsum along with the death benefit under the basic plan.
The policy holders can take loan on the policy after paying the premium for 3 years. The sum assured on death shall be payable among the highest of the following:
• Basic Sum Assured or
• 10 times of annualized premium or
• 105% of all the premiums paid as on date of death.
You can check the website of LIC for more details.