LIC Jeevan Tarang Withdrawn Plan
LIC Jeevan Tarang Withdrawn Plan is a with-profits plan LIC of India had offered. This whole of life policy provides the annual survival benefit for entire life. The program offers bonuses as the lump sum paid after Accumulation period. There are optional riders available during the accumulation period. Jeevan Tarang Plan also includes benefits for disability due to accidents. The Corporation will pay Sum Assured plus the Additional benefits at the age of 100 years. There are options to pay premiums. The policy provides an Annual Survival benefit at the rate of 5½ % of the Sum assured.
Eligibility Conditions for LIC Jeevan Tarang Withdrawn Plan
|Ages at entry||0 to 60 years nearest birthday|
|Accumulation periods available||10, 15 and 20 years|
|Maximum age at which premium payment ceases||70 years nearest birthday|
|Age up to which life cover available||100 years|
|Minimum age at end of Accumulation Period||18 years last birthday|
|Premium paying terms||Single Premium and Regular premiums equal to the accumulation period, i.e. 10, 15 and 20 years|
|Modes of premium payment||Yearly, Half Yearly, Quarterly, Monthly, SSS and Single Premium|
|Sum Assured||Rs.1 lakh and over in multiples of Rs.5,000/-|
Features of LIC Jeevan Tarang Policy
- Whole of life plan.
- Annual survival benefits at 5.5% of the sum assured.
- Accumulation period of 10,15 and 20 years.
- Regular payment premium-yearly/half-yearly/quarterly/monthly/salary deduction .
- Facility of Single Premium payment.
- Attractive Premium rates.
- Simple Reversionary bonuses to the end of the accumulation period.
Benefits of LIC Jeevan Tarang
- Benefits like Survival Benefits, Maturity Benefits and Death Benefits.
- Paid-up Value
- Guaranteed Surrender Value
- Other benefits like loan facility, grace period and a cooling-off period.
- On survival to the end of the selected Accumulation period: Vested reversionary bonuses in a lump sum will be payable.
- On survival to the end of each year after the Accumulation Period: 5½% of the Sum Assured will be payable. The first survival benefit will be payable on survival to one year after the end of the accumulation period.
If the Life Assured survives till the age of 100 years, he/she gets the Sum Assured and Loyalty Additions.
If the death occurs:
- During the Accumulation period, the Assured Life gets the Sum Assured along with vested reversionary bonuses.
- After the Accumulation period, the Assured Life gets the Sum Assured along with Loyalty Additions, if any.