LIC Launches Single Premium Based Jeevan Sugam Policy
By Snehalatha, Udupi
Bellevision Media Network
Udupi, 27 Feb 2013: Life Insurance Corporation of India (LIC) has released Jeevan Sugam policy; new policy based on single premium, said N S Shirahatti, Udupi division senior manager.
Addressing the media persons here on Tuesday February 26, Shirahatti said that the money invested in Jeevan Sugam policy will be doubled in ten years. The policyholder will get a percentage of profit at the time of maturity. In case of premature death, ten times of premium will be paid to the family of policyholder, said Shirahatti.
The last date to apply for this policy will be March 31. The minimum premium payable will be Rs 30,000 and people between the age group of 8 to 45 years can apply. The policyholder can avail loan to the extent of 60 percent of premium payment. In case of surrendering the policy earlier, the premium amount applicable up till can be encahsed, added Shirahatti.
In case of death of policyholder after 5 years, ten times the premium amount including profit will be paid. If the policyholder surrenders the policy after nine years, the accrued policy amount including profits will be paid, said Shirahatti.