Jeevan Sangam is a special combination which provides investment opportunity providing high riskcover and regular income for life time. Premiums are payable for selected term after which regular income starts. If desired, user also have option to get lumpsum amount at the beginning of regular income.
JEEVAN SANGAM - LIVING WITHOUT TENSION
1. Till recently, there was no concern about regular income in the old age as one could fall back on the family support after retirement. Focus was more on fulfilling family commitments like marriages, house construction etc.
2. However, with increasing urbanization, this process underwent change and with breaking up of the joint family system, need for old age provision is increasingly felt now.
3. Increase in longevity has given rise to “The fear of living too long”.
4. Post-retirement period may be as long as or longer than the pre-retirement period.
5. Every individual would like to maintain the same standard of living as one was used to, during the professional life.
6. Greatest risk faced by many who save for retirement is outliving their assets.
7. With declining trend of interest rates in the market, lump sum retirement benefit may not suffice to fend for the entire post-retirement years.
8. It is difficult to get a job after retirement and even if one gets a job, it will mean a climb down in status.
Note:
* Jeevan Sangam-II is combination of LIC plans specially designed to provide High Returns and High Risk cover during Retirement.
* The Maturity is calculated as per bonuses last declared by LIC.
* The above Statements are based on certain assumptions, which are liable to change according to Government / Corporation's Policies
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