LIC Jeevan Kishore

LIC's Jeevan Kishore (Table No.-102) is a Plan available for children of less than 12 years of age. The policy may be purchased by any of the parent/grand parent. The risk commences either after 2 years from the date of commencement of policy or from the policy anniversary immediately following the completion of 7 years of age of child, whichever is later.


Eligblities:

• Minimum Entry Age- 0 years (LBD)
• Maximum Entry Age- 12 years (LBD)
• Minimum Maturity Age 20 years
• Maximum Maturity Age- 45 years
• Minimum Term- 15 years
• Maximum Term- 35 years
• Minimum Sum Assured- Rs. 50,000
• Maximum Sum Assured- Rs. 40 Lacs
• Maximum Sum Assured- Rs. 15 Lacs (If Age at Entry is less than 10 years)
• Sum Assured (In Multiple)- Rs. 5000
• Mode of Payment- Yearly, Half-Yearly, Quarterly, Monthly and Single Premium

Attraction and Benefits:

1. Bonus: This is a with-profits plan and participates in the profits of the Corporation’s life insurance business. It gets a share of the profits in the form of bonuses. A Final (Additional) Bonus may also be payable provided policy has run for certain minimum period.
2. Death Benefit: The Sum Assured along with vested bonuses, if any, is payable in a lump sum upon the death of the life assured after the commencement of the risk. If death occurs before the commencement of the risk, the premiums paid excluding the premiums for the Premium Waiver Benefit, if any, will be refunded.
3. Maturity Benefit: Sum assured along with all bonuses declared during the policy term is payable in a lump sum on survival to the end of the policy term.
4. Premium Waiver Benefit: This is an optional benefit that can be added to your basic plan. An additional premium is required to be paid for this benefit. By payment of this additional premium, the proposer can secure the benefit of cessation of premiums from his/her death to the end of the deferment period. The deferment period for this purpose is to be taken as 18 minus age at entry of child.
5. Surrender of Policy: The policy may be surrendered after it has been in force for 3 years or more.