LIC’S JEEVAN VAIBHAV :It is a close ended plan which would be open for sale from 21st May, 2012 .
LIC’s Jeevan Vaibhav is a single premium non-linked endowment assurance plan which provides for payment of Sum Assured on maturity or on death. Loyalty addition, is also payable on death during the last policy year or on maturity.
Maturity Benefit:
On maturity, the Sum Assured along with Loyalty Addition, if any, shall be payable.
Death Benefit:
On death during the policy term, excluding last policy year: Sum Assured shall be payable.
On death during the last policy year: Sum Assured along with Loyalty Addition, if any, shall be payable.
Eligibility Conditions and Restrictions
a) Minimum Entry Age : 8 years (completed)
b) Maximum Entry Age : 65 years (nearest birthday)
c) Mode of Premium Payment : Single premium
d) Minimum Sum Assured : Rs.2,00,000/-
e) Maximum Sum Assured : No Limit
The sum assured shall be in multiple of Rs.10, 000/-
f) Policy Term : 10 years
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