LIC’s JEEVAN MANGAL PLAN – MICRO INSURANCE PRODUCT
(UIN: 512N257V01)
1. Introduction:
LIC’s Jeevan Mangal is a term assurance plan with return of premiums on maturity, where you may pay the premiums either in lump sum or regularly at Yearly, Half Yearly, Quarterly, Monthly, fortnightly or weekly intervals over the term of the policy.
2. Eligibility Conditions and Other Restrictions:
| 1. | Minimum age at entry | : 18 years (completed) |
| 2. | Maximum age at entry | : 60 years (nearest birthday) |
| 3. | Maximum age at maturity | : 70 years (nearest birthday) |
| 4. | Term | : 10 to 15 years for regular premium. 10 years for single premium. |
| 5. | Minimum Instalment Premium | : Rs 15/- |
| 6. | Minimum Sum Assured | : Rs. 10,000/- |
| 7. | Maximum Sum Assured | : Rs. 50,000/-(Sum Assured shall be in multiples of Rs. 1,000/-) |
3. Mode of Premium Payment :
The modes of premium payment allowable are Yearly, Half Yearly, Quarterly, Monthly including SSS, fortnightly, weekly and Single Premium. (Single premium is allowed for 10 year term only.)
4. Sample Premium Rates:
Following are some of the sample premium rates per Rs. 1000/- Sum Assured:
Annual Premium for Rs.1000 Sum Assured:
| Age (yrs.) | Term of the Policy (years) | |
|
10
|
15
|
|
|
20
|
39.90
|
24.35
|
|
30
|
41.30
|
25.95
|
|
40
|
49.25
|
32.55
|
|
50
|
69.65
|
47.75
|
Single Premium for Rs.1000 Sum Assured (Available for 10-year term only)
| Age (yrs.) | Term of the Policy (years) |
|
20
|
99.60
|
|
30
|
105.20
|
|
40
|
136.65
|
|
50
|
220.70
|
