LIC of India has designed this New Lic Jeevan Mangal plan to offer protection . And also peace of mind to their customers. Because it aims to secure the finances of your loved ones in the event of your death, ensuring that life continues regardless of any incidents. Enhanced protection at affordable rates makes it ideal for the concerned family person. The minimum entry age to acquire this LIC New Jeevan Mangal policy is 18 years. And the maximum entry age is 60 years. Here we have provided the LIC Jeevan Mangal Premium Calculator and Maturity Calculator to calculate Premiums, Maturity, and Death benefits.
LIC Jeevan Mangal Policy Benefits and Features
The LIC New Jeevan Mangal Plan provides a broad range of benefits for the policyholder. So, check out the features and benefits of this LIC New Plan in the below sections.
Death Benefit
- If the demise of the insured occurs during the term of the policy. The Sum Assured under the basic plan is payable to the nominee of the policy. It is provided to policy which is kept in force. This amount depends on the premiums paid and policy chosen.
- If the demise of the insured occurs due to any other reason other than the accident. Then Sum Assured on death is as follows.
- Sum Assured on Death shall be payable for regular premium policies. Which are defined as highest of ten times of annualized premium, or 105% of all the premiums paid as on date of death or Sum Assured on Maturity .
- Sum Assured on Death shall be payable for single premium policies. That were defined as higher than 125% of single premium. And also excluding the taxes and extra premium.
Maturity Benefit
If the life assured survives till the maturity date. An amount equal to the total amount of premium paid during the term of the contract is payable. Provided the policy which is kept in force. The accident benefit premium and all extra premium, if any, are excluded.
Tax Benefit: Policyholders are entitled to tax benefits in lic. On the premiums paid and the payout received on maturity or death.