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LIC Jeevan Rakshak Plan no 827 Review
LIC Jeevan Rakshak is a Regular premium paying and Endowment Insurance plan released by Life Insurance Corporation of India. LIC Jeevan Rakshak Plan 827 is available under Non Medical Scheme. Maximum Sum assured under this LIC Jeevan Rakshak Policy is 2 lakhs. Minimum Sum assured is Rs. 75,000. LIC jeevan rakshak 827 plan is the first plan providing Insurance Coverage for less than 1,00,000 Rs/- also out of all regular premium paying policies where remaining LIC Policies Minimum Insurance Coverage is Rs. 1,00,000. This Lic’s Jeevan rakshak suits for all lower income people. LIC provides Jeevan rakshak plan without any Medical requirements.
LIC Jeevan Rakshak Plan Calculator helps you to calculate the premium and maturity amount for LIC Jeevan Rakshak Policy 827. Before buying the Jeevan Rakshak policy check the premium rates for your desired sum assured using this Lic Jeevan Rakshak Premium Calculator or Lic Jeevan Rakshak Maturity Calculator.
Jeevan Rakshak LIC 827 Plan Conditions
| Age |
|
| Policy Term |
|
| Sum Assured |
|
| Premium Paying Mode |
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LIC Jeevan Rakshak 827 Benefits
LIC Jeevan Rakshak Policy provides Benefits such as Death and Maturity benefits. LIC jeevan rakshak benefits are given below.
- Maturity Benefit: Sum Assured + Loyalty Addition.
- Death Benefit: Sum Assured on Death + Loyalty Addition( if death occurs after 5 years then only loyalty addition is paid).
Sum Assured on Death means Basic sum assured (or) 10 times of annual premium (or) 105% of total Premium paid till date of death.
Rebates
LIC Jeevan Rakshak policy provides discounts based on the Sum assured chosen by Policyholder. Detailed Information about rebates is tabulated below.
Mode Rebate
| Mode | Rebate |
| Yearly | Table Premium 2% |
| Half-yearly | Table Premium 1% |
Sum Assured Rebate
|
Sum Assured |
Rebate |
| From Rs. 75,000/- to Rs. 1,45,000/- |
NIL |
| From Rs.1,50,000/- to Rs. 2,00,000/- | For every 1,000 Rs./- Sum Assured 1.50 Rs/- rebate |
LIC Jeevan Rakshak Premium Chart gives you the information about Premiums based on your Sum assured, Policy term and age. LIC Jeevan Rakshak Premium Calculator is given below.
LIC Jeevan Rakshak Maturity Calculator
LIC Jeevan Rakshak Maturity Calculator provides you Maturity benefits by giving some information such as Age, Name, Policy term, Sum assured etc.
LIC Jeevan Rakshak Example
Additional Information
Risk Coverage: Risk Coverage through out Policy Term.
Date of Commencement of Risk: From First day of taking the policy.
Locking period: 3 years.
Loan Facility: Available.
More Policies can we take: Policyholder can take more than one Lic Jeevan Rakshak Plan for him but Maximum sum assured is 2,00,000 from all the policies of this plan. we can take other plans with no Limit.
Grace Period for payment of Premium: For yearly and half-yearly Premium one month grace period is there. So, we can pay late for 1 month. For Quarterly and monthly we have 15 days grace period.
Income Tax Reduction: Available under Section 80C for premiums paid and Section 10 (10D) for Maturity returns. For information about Tax on Insurance Policies refer www.taxqueries.in.
Housing Loan Surety: House Loan Surety benefits are available under this LIC of India jeevan rakshak.
Loan Amount: Maximum 70% of surrender value.
Riders available: Rider benefits are available under Lic plan jeevan rakshak.
Policy Revival: Policy can be revived before 2 years from date of First Unpaid Premium (FUP).
Suicide Clause: If insured commit suicide before 12 months he will be returned back 80% of premium what he paid.
Proposal Forms: Proposal Form no. 300 or 340 will be used under this plan.
Service Tax: 3.09% service tax is applicable.
Cooling-off Period: If a policyholder is not satisfied with the policy, he/she may return the policy within 15 days from the date of receipt of the policy.
Back-dating interest: The policies can be dated back within the same financial year.
Assignments/Nominations: Assignment and nominations is possible under this plan.
Example
| Age |
30 years |
| DOC |
13/08/2014 |
| Age NBD |
30 years |
| P.P.Term / P.Term |
20 years |
| Sum_Assured |
1,00,000 |
| Accident_Benefit |
No |
| Tabular_Rate |
35.95% |
| Service_Tax |
3.09% |
| Mode |
Premium |
S_Tax |
G_Prem |
| Yearly Premium |
3623 |
112 |
3735 |
| Half Yearly Premium |
1830 |
56 |
1886 |
| Qly Premium |
924 |
28 |
952 |
| SSS |
308 |
9 |
317 |
For more details please refer below given official link,
Click here for Lic Jeevan Rakshak Policy
LIC Single Premium Endowment plan
LIC Limited Premium Endowment Policy
Pl tellus aporx maturity payment 20 yrs 2 lac policy
Thanks
This policy for lower income group
Pl tell uperincome group can take
Thanks
P kapoor
HI ALL
Hi Boss,
Jeevan Rakshak is the best plan for Middle class people, it will increase our business and Income it is really Nice plan,
Can you please circulate commission rate for same?
Regards,
Agent-Rahul Patil
9960843403
I took Jeevan Rakshak plan for my mom age is 54 dt.5th september2014.
But I paid yearly 25000(twenty five thousand rupees) per annum.the agent told me I got 8 Lac something after 20 years.
And he needs Sugar Blood test Report and ECG Report.
My Question is that is it possible regarding money?
please give reply because I have only five days for surrender this policy.
1. In Jeevan Rakshak Maximum sum assured is 2 lakhs only.
2. For age 54 you can get policy term of 16 years not 20 years
3. jeevan rakshak given on non medical scheme. no medical requirement. please check what policy he given to u
Hi Vijay kumar,
Now im planning to take 2,00,000 policy for 16 years. Now i want to know how much i will get after my maturity in year of 2030. Its more then 4Lac or Less then 4Lac….? So please reply me as soon as possible because day after tomorrow i’m going to take this policy so im asking u…. So pls guide me….
what is your age ?
taking your age as 35 and term 16 and sum assured 2,00,000
Expected Maturity is 2,80,000
what you going to pay is 1,52,000
Hi Vijay,
My completed age:25, 26 is running… I took this policy for 200000 for 16 years….
What is that Loyalty Addition…..? Expected Maturity is 2,80,000 its include (Sum Assured + Loyalty Addition + Bonus)…?
This policy taken in Bangalore Branch but im in Chennai how to convert to Chennai branch because Finlay in the time of maturity period i want to go Bangalore so i want to change it to my nearest branch. So pls share me whats the procedure for that…?
Dear Sir,
My age is 24 yrs, I want to take Jevan Rakshak Plan, I want to use Sum Assured 2 Lac for 10 years,
Please let me know what sum i will get after 10 yrs, if i choose 2 lac for 10 year.
Please reply by mail ASAP.
Kind Regards,
Govinda Soni
kindly help free software from premium calculater
go for lic ravin for android users
our calculators are free of cost
Hi,
IF I TAKE 2,00,000 policy for 15 years.kindly intimate me who much amount I will get after maturity.My age is 25
pl confirm lic agent commission other incentive and gifts etc for 20 years policy term
will update today
pl confirm lic agent commission & other total incentive,gifts etc on the date upto 3rd september 2014