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 – 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
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