Premium and Maturity Calculator – LIC Jeevan Rakshak 827

Premium and Maturity Calculator – LIC Jeevan Rakshak 827. Jeevan Rakshak (Plan 827) is a regular premium paying Endowment Assurance plan from LIC of India. Jeevan Rakshak is a with-profit, non-linked (conventional type) plan, with a maximum sum assured of 2,00,000 for an individual. The benefits under the plan include, death benefits and maturity benefit which is discussed in detail here.

LIC Jeevan Rakshak 827 Benefit illustration

LIC Jeevan Rakshak – Plan 827 – Key Features
  • Endowment type of plan with a maximum term of 20 years.
  • Maturity benefit of the plan includes Sum Assured + Loyalty Additions (If any).
  • ‘Sum Assured on death’ is the higher of ‘Basic Sum Assured;  or 10 times of annualised premium; or 105% of all the premiums‘ paid as on date
  • Death coverage of the policy includes ‘Sum Assured on Death’ + Loyalty additions, if the death occurs after the completion of 5th policy year. On the other hand if the death occurs within 5 policy years, only ‘Sum Assured on death’ shall become payable.
  • Loan shall be available on the policy after payment of premiums for 3 full years.
  • No loyalty addition shall be paid if the policy is surrendered before the term.

Read More: Read Complete details of LIC’s Jeevan Rakshak – Plan 827

Anish L J
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Anish L J

Anish L J is a 'Financial Planner' and member of Chartered Insurance Institute(CII), London. He is also a finance, insurance and software consultant with more than 20 years of experience in these fields. He thoroughly follows developments in insurance and finance. 'INSURANCE FUNDA' (www.insurancefunda.in) is his endeavor to provide simple and solid solutions in the Insurance and Finance sectors.
Anish L J
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