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LIC Jeevan Labh Plan (Table 836) is a limited premium paying endowment plan non-linked, with-profits endowment plan which offers a combination of protection and savings. This plan provides financial support for the family in case of unfortunate death of the policyholder any time before maturity and a lump sum amount at the time of maturity for the surviving policyholder. This plan also takes care of liquidity needs through its loan facility and surrender value option. LIC Jeevan Labh Policy gives major three benefits; First benefit is its kind of LIC short term plan pay only for specific period of time; Second benefit is maturity benefit at end of the policy term, Third benefit is life insurance coverage to the policy holder for a specific period of time (policy term) even after paying the premium, Best LIC policy for short term in India with good return. Before buy the policy Know the Eligibility, Sum Assured, policy details, policy new features, benefits, reviews, life insurance coverage, maturity Benefits, premium calculator, maturity calculator, premium chart, return calculator, tax Benefits under Section 80(C) and Section 10 (D). LIC Policies are inbuilt Accidental Death and Disability Benefit Rider. PolicyandFunds.com is one of the top & best LIC Agent in Chennai, provides good customer services to choose perfect Life Insurance Plans in India 2017.
LIC Jeevan Labh Policy are the best tool to achieve Short-Term as well as Long-Term Financial Goals & for Retirement savings. LIC Policy gives highest return of bonus, final addition bonus in the Life Insurance Industry of India, Plans available Like, 10 years, 15 years, 16 years, this policy helpful to to double the money easily, plans are also helps for girl or boy baby child future Higher Education, Carrier, future Marriage.
Sample premium rates declared below in table (excluding service tax) per Rs. 1000/- Basic Sum Assured (SA):
|Age (in years)||Policy Term/Premium Paying Term (in Years)|
|16 (10)||21 (15)||25 (16)|
Under the policy Grace Period: 30 days will be allowed to premium pay. Policyholder if fails to pay the premium within the policy grace period, automatically the policy will be get lapsed. And there is a option to be revived the policy within the period of two years from the date of the first unpaid policy premiums.
Free Look Period: Policy holder are not satisfied under the policy condition or like coverage etc., policy holder have the options to cancel the policy within the period of 15 days from date of receipt, provided any claim happen LIC will not be paid.
strong>Exclusions: Suicide committed within one year (12 months) of policy period from the date of commencement of risk, LIC will not pay any claim under this policy except for to the extent of 80% of the premiums paid excluding any taxes, extra premium and rider premiums, if any, provided the policy is in force.
Documents Required: Proposal Form 300/340/360 shall be filled under this plan with exact medical history, and also other proof of documents are required to completed the policy, like address proof and other Know your customer (KYC) documents. Additionally Medical test may required based on the sum assured also the age of the person wants to take the policy.
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