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financial advisor for small saving
JEEVAN SAMRIDDHI – Money Back Plan
Life Insurance
JEEVAN SAMRIDDHI Life insurance plan was withdrawn on 31.3.2005 by LIC of India, and this is not available for sale now. We have posted this plan here as we were getting lots of queries regarding this plan, and recently LIC has introduce a new Policy SAMRIDDHI Plus. So please post all your queries regarding Jeevan SAMRIDDHI here.
‘JEEVAN SAMRIDDHI’ - the New Money Back Plan that assures periodic payment of basic Sum Assured in installments on survival, with increasing benefits. ‘Jeevan Samriddhi’ gives a wider choice of convinient terms – 12, 15, 20 and 25 years, with added attractive features necessities, to ensure the timely availability of funds for marriages, education, illness and any unforeseen contingency.
Salient Features
- The policy is a money back plan where in certain percentage of basic Sum assured is payable at periodic intervals on survival, with increasing benefits.
- The policy can be taken for 12,15,20,25 years.
Benefits
| Term | 12 Years | 15 Years | 20 Years | 25 Years |
| Survival Benefit | 20% of Sum Assured each at the end of 4th & 8th Years | 25% of Sum Assured each at the end of 5th & 10th Years | 20% of Sum Assured each at the end of 5th , 10th & 15th Years | 15% of Sum Assured each at the end of 5th , 10th ,15th & 20th Years |
| Maturity Benefit | 60% of the Sum Assured Plus Guaranteed Additions on full Sum Assured | 50% of the Sum Assured Plus Guaranteed Additions on full Sum Assured | 40% of the Sum Assured Plus Guaranteed Additions on full Sum Assured | 40% of the Sum Assured Plus Guaranteed Additions on full Sum Assured |
| Death Benefit | Full Sum Assured + accrued Guaranteed Addition + Loyalty Addition, if any. | |||
- Guaranteed Addition: The Guaranteed Addition @ Rs.65/- per thousand Sum Assured is payable at the end of Policy term or on earily death for each completed policy year during which the policy was in force for the full Sum Assured.
- Loyalty Addition: If the premiums are paid for atleast 5 years, a Loyalty Addition if any may become available on death along with claim payments. Actual Loyalty Addition would depend on Corporation’s experience with respect to investment returns, mortality and expenses.
- Accident Benefits:Accident Benefit will be granted under the plan subject to the payment of additional premium of Rs.1/- per thousand Sum Assured Per Annum upto a maximum of Rs.10,00,000/- Sum Assured. However, this is inclusive of the maximum of Rs.10,00,000/- Sum Assured placedin aggregate on other life insurance plans.
- Addtional Term Rider Option: A choice of additional death cover is also available under the plan as a Term Assurance Option subject to certain restrictions.
Restrictions
| Term | 12 Years | 15 Years | 20 Years | 25 Years |
| Main Plan | ||||
| Minimum Age at entry(completed) | 14 years | 13 years | 13 years | 13 years |
| Maximum Age at entry | 58 years | 55 years | 50 years | 45 years |
| Maximum Age at maturity | 70 years | |||
| Minimum Sum Assured | Rs.40,000/- | |||
| Mode of payment of premium | Yearly/Half-Yearly/Quarterly/Monthly/Monthly (SSS) | |||
| If the option of Accident Benefit is chosen, then an amount equal to the basic Sum Assured is payable if death occurs as an accident. | ||||
| No loan is granted under this policy. | ||||
| Term Assurance Option | ||||
| Minimum age at entry(completed) | 18 years | |||
| Maximum age at entry | 50 years | |||
| Maximum age at maturity | 60 years | |||
| Minimum Sum Assured for the Term Rider | Rs.1,00,000/- | |||
| Minimum Sum Assured the Basic Plan on which the Term Rider can be given | Rs.1,00,000/- | |||
| Maximum Sum Assured for Term Rider | An amount upto twice the Sum Assured subject to the maximum of Rs.25,00,000/- | |||
PS Ravindiran [ 21Feb11]
The plans are withdrwan on 31.3.2005.
Ramu [ 25Feb11]
iam ramu i want invest yearly 25000 how many years need to pay how much i can get give me full detils
S. S. Yadav [ 22Sep11]
Dear Sir,
I WANT JIWAN SAMRIDDHI POLICY OF RS. 200000/, FOR 15 YEARS ON THE BASIS OF HALF YEARLY , HOW MANY PREMIUN WILL BE COME.
kumar [ 07Apr12]
Hi Sudama
This plan is closed for new sales