LIC Jeevan Chhaya Withdrawn Plan
LIC Jeevan Chhaya Withdrawn Plan is a Withdrawn plan introduced by LIC of India. This plan is Endowment Assured. It is a financial benefit as a protection against death. LIC Jeevan Chhaya Withdrawn Plan is also a with-profits plan. The Assured life under Jeevan Chhaya gets the benefit of one-fourth of Sum Assured at the end of every four years. It is applicable whether the policyholder dies or survives. In short, he/she obtains the benefit till the end of the term of the policy.
Eligibility Criteria for LIC Jeevan Chhaya Withdrawn Plan
|Age at entry||35 Years|
|Policy Term||25 Years|
|Mode of premium payment||Yearly, Half-Yearly, Quarterly, Monthly, Salary deduction|
|Sum Assured||Rs. 1,00,000 /-|
|Annual Premium||Rs. 4653 /-|
Features of Jeevan Chhaya Withdrawn Plan
LIC Jeevan Chhaya Plan provides financial assistance against death in the form of one-fourth amount of sum assured for every four years. You can pay the Premium as per the convenience like yearly, half-yearly, quarterly, or monthly. It can also be in the form of salary deduction.
With the profits in the LIC’s business, this plan gets profits as bonuses. Also, at the end of each financial year, the Corporation declares Simple Reversionary Bonuses per thousand Sum Assured annually. Thus, we get the guaranteed benefits of the plan.
Benefits of LIC Jeevan Chhaya Withdrawn Plan
- 25% of the assured sum at the end of every four years.
- Offers Surrender value, Guaranteed Surrender Value, Bonuses.
- On death, all bonuses plus the sum assured till the last installment.
- Immediate assured sum payment on death.
- Guaranteed payments for death/survival till policy term.
- Additional bonus at the end of the term.
- Pay an extra premium for getting other benefits of the plan.
- The LIC Jeevan Chhaya plan also adds extra benefits to the basic plan for extra protection.
- Surrender value on earlier termination of the policy.
Guaranteed Surrender Value:
- Surrender the policy after three years.
- Get 30% guaranteed surrendered value.
- The declared bonus is guaranteed.