Lic Jeevan Utkarsh Premium Calculator – 846 – All details, calculators and illustrations. LIC’s Jeevan Utkarsh is a single premium, non-linked, with-profits, savings cum protection plan. As it is a non linked plan amount is not invested in the equity or share market. The risk cover of the plan is ten times of Tabular Single premium.
LIC’s Jeevan Utkarsh (Plan 846) – Important features of the plan.
- Premium: LIC’s Jeevan Utkarsh is a single premium plan.
- Maturity benefit: On the Life Assured surviving to the end of the policy term, “Sum Assured on Maturity”(Basic Sum Assured) along with Loyalty Addition, if any, shall be payable.
- Death Benefit:If death occurred before the commencement of risk, then LIC will refund the single premium without any interest on it. Also, this refund of single premium will not include any taxes, extra premium chargeable under the policy due to underwriting decision and rider premium, if any. If death occurred after the commencement of risk, Sum Assured will be payable to nominee without any additional benefits.
If death occurs after the 5th years of policy and before maturity – Sum assured which is equal to 10 times of your single premium and Loyalty Addition will be payable to the nominee.
Sum Assured at death will be highest of the below 125% of the single premium; or Guaranteed Sum Assured on Maturity i.e. Basic Sum Assured; or-10 times of Single Premium.
- LIC’s Accidental Death and Disability Benefit Rider shall be available under this plan as an optional benefit.
- Term of the policy is 12 years.
- Loans: Policy Loan up to 90% of surrender value the can be availed under this policy at any time after three months from completion of the policy.