Plan 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
Policy Term : 12 Years
Minimum Entry Age : 6 years (completed)
Maximum Entry Age : 47 years (nearer birthday)
Minimum Sum Assured : Rs. 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:
1) Before the date of commencement of risk: Refund of single premium excluding service tax and extra premium, if any, without interest.
2) After the date of commencement of risk:
Basic Sum assured i.e. 10 times the tabular single premium shall be payable.
3) 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.
Policy Benefits : 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
Policy Surrendered Value :
The policy can be surrendered at any time during the policy term subject to realization of the premium cheque.
Loan facility: 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).
Premium Payment Mode: Single Premium
Policy Term : 12 Years
Minimum Entry Age : 6 years (completed)
Maximum Entry Age : 47 years (nearer birthday)
Minimum Sum Assured : Rs. 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:
1) Before the date of commencement of risk: Refund of single premium excluding service tax and extra premium, if any, without interest.
2) After the date of commencement of risk:
Basic Sum assured i.e. 10 times the tabular single premium shall be payable.
3) 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.
Policy Benefits : 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
Policy Surrendered Value :
The policy can be surrendered at any time during the policy term subject to realization of the premium cheque.
Loan facility: 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).
Ask Your Queries and Leave Your Feedback !