LIC Jeevan Madhur -An Endowment Assurance plan, launched in September 2006. In this product policy holder can easily pay premiums regularly according to its own capecity, such as at weekly, fortnightly, monthly, quarterly, half-yearly or yearly intervals bases over the term of the policy.
Minimum installment premium for different modes of premium payment shall be:
Weekly: Rs. 25/-
Fortnightly: Rs. 50/-
Monthly: Rs. 100/-
Quarterly/Half-yearly/Yearly: Rs. 250/-
Further, the premium chosen by you shall be subject to the minimum and maximum sum assured of Rs. 5,000/- and Rs. 30,000/- respectively payable on death and maturity under this plan
Benefits
Maturity Benefit: On your surviving to the date of maturity, payment of the Maturity Sum Assured along with vested bonuses, if any.
Death Benefit: Payment of an amount equal to total premiums payable during the entire term of the policy along with vested bonuses, if any.
Accidental Death and Disability Benefit: On death arising as a result of accident an additional amount, equal to Death Benefit Sum Assured shall be available during the term of the policy.
Eligibility Conditions and Other Restriction
Minimum age at entry 18 years (completed)
Maximum age at entry 60 years (nearest birthday)
Maximum age at maturity 65 years (nearest birthday )
Term 5 to 15 years.
Minimum Sum Assured Rs. 5,000
Maximum Sum Assured Rs. 30,000