LIC JEEVAN CHHAYA (Table No. 103)
LIC Jeevan Chhaya is a with profit plan for child future planning. Death cover provided in this policy is equal to one SUM assured and one fourth of Sum Assured will be paid in every year end of last four years of policy term whether the life assured dies or survives the term of the policy.
BENEFITS & FEATURES
Maturity Benefits: One fourth of the sum assured is payable at the end of each of last four years of the policy term. On death/survival all bonuses declared during the term of policy will also be paid along with the last installment. These benefits are payable whether the life assured survives the policy term or dies during the term of policy.
Death Benefits : Basic Sum Assured shall be payable on death during the policy term immediately.
Policy Loan : Available
Tax Benefits : Tax benefits on premium under section 80C and death claim under section 10 (10D) as per IT Act 1961
Surrender Value : Available
Guaranteed Surrender Value : The policy may be surrendered after it has been in force for 3 years or more. The guaranteed surrender value is 30% of the basic premiums paid excluding the first year’s premium and the fixed benefit already paid.
ELIGIBILITY & PREMIUM PAYMENTS
- Min / Max Age: 18 - 45 Years
- Max age of maturity: 65 years
- Min / Max Term: 18 – 25 years
- Min / Max Sum Assured: Rs.50,000 and more (No upper limit)
- Premium Payment: Yearly, Half- Yearly, Quarterly and Monthly