JEEVAN UTSAV
ALL YOU NEED TO KNOW ABOUT LIC'S JEEVAN UTSAV
Published By MintGenie Team | 01 Dec, 2023
LIC introduces Jeevan Utsav, a novel plan offering savings and whole life insurance, effective November 29, 2023.
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This non-linked, non-participating plan provides extensive life insurance coverage throughout an individual's lifetime.
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Accessible for individuals aged 90 days to 65 years, it offers lifelong income and coverage against risks.
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Premium paying term ranges from 5 to 16 years with guaranteed additions accumulating annually.
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Policyholders surviving beyond the premium paying term can choose between Regular Income or Flexi Income Benefit options.
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Death benefit includes "Sum Assured on Death" along with accrued guaranteed additions, ensuring a minimum of 105% of total premiums paid.
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No maturity benefits; instead, regular/flexi income benefits continue based on the selected option.
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Features like loan availability, high sum assured rebate, and flexible premium payment cater to policyholder needs.
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