LIC’s Jeevan Vriddhi is a single premium non-linked plan which provides for payment of Guaranteed Maturity Sum Assured along with Loyalty Addition, if any, on maturity. Under this plan death benefit is the Basic Sum Assured.
The benefits and other details of Jeevan Vridhi Plan No. 808 are given below:
The benefits and other details of Jeevan Vridhi Plan No. 808 are given below:
A) Death Benefit: On death of the life assured during the policy term, Basic Sum Assured i.e. 5 times of single premium excluding extra premium, if any, shall be payable.
B) Maturity Benefit: At the end of the policy term maturity benefit equal to the Guaranteed Maturity Sum
Assured along with Loyalty Addition, if any, shall be payable. Guaranteed Maturity Sum Assured will depend on the entry age of the Policyholder and the single premium excluding extra premium, if any.
C) Loyalty Addition: Provided the policy is in full force at the time of maturity, then depending upon the
Corporation’s experience with regard to the policies issued under this plan, the policy will be eligible for Loyalty Addition on the stipulated date of maturity at such rate and on such terms as may be declared by the Corporation. The Loyalty Addition payable shall be based on the Guaranteed Maturity Sum Assured.