Jeevan Nischay (Plan 199): LIC’s New Jeevan Nischay Single Premium One Time Guarnteed Return Investment Plan only for exisiting policy holders. Closed for sale on 31 March 2010.
Details of the Plan 199 are as follows: It has been decided to introduce ‘LIC’s JEEVAN NISCHAY, (Plan No. 199) a closed ended plan which would be open for sale from 29th October 2009 till 31st March 2010. This plan shall be offered only to our existing policyholders.
LIC’s Jeevan Nischay is a single premium assurance plan with Loyalty Additions, if any. It shall be offered, without any medical examination, only to the existing policyholders of the Corporation whose previous policies have been accepted at standard rates and have at least one policy inforce.
· Death Benefit:
On death during the first policy year: 5 time the single premium excluding extra premium, if any.
On death during the policy term after first policy year, excluding last policy year: Maturity Sum Assured
On death during last policy year: Maturity Sum Assured along with loyalty addition, if any.
· Maturity Benefit:
On maturity: the Maturity Sum Assured along with Loyalty Addition, if any, shall be payable. Maturity Sum Assured would depend upon age at entry for a fixed amount of premium.
1. Eligibility Conditions and Restrictions
a) Minimum Entry Age : 18 years (completed)
b) Maximum Entry Age : 50 years (nearest birthday)
c) Minimum Single Premium : Rs. 10,000
d) Maximum Single Premium : Rs. 10,00,000
The Premium shall be in multiples of Rs. 1,000/-.
e) Policy Term : 5, 7 and 10 years
f) Minimum / Maximum Maturity Sum Assured : There is no specific minimum and maximum Maturity Sum Assured. It will depend on the single premium paid.
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