December 27, 2011 by akhilendra
Jeevan Surabhi Review
Jeevan Surabhi plan is money back life insurance policy from LIC. Jeevan Surabhi is quite similar to other money back policies in the market from LIC and other insurance companies. But there are few differences like Maturity term is more than premium paying term.
Discuss Jeevan Surabhi and find out about other insurance policies at life insurance forum.
Early and higher rate of survival benefit payment.
Risk cover increases every five years.
The actual term and the premium paying term for Jeevan Surabhi plans are as under.
| Plan no. | Policy Term | Premium Paying Term |
| 106 | 15 years | 12 years |
| 107 | 20 years | 15 years |
| 108 | 25 years | 18 years |
Full sum assured is paid back as survival benefit by the end of premium paying term. However, the risk cover and additional risk cover continue and the policy participates in profits till the end of policy term.
Accident Benefit is restricted to the premium paying period and to the overall limit of Rs.5 lakhs on a single life.
Suitable For:
This plan holds special interest to people who besides wishing to provide for their old age and family feel the need for lump sum benefits at periodical intervals.
Jeevan Surabhi is a with profits plan available for three different terms of 15, 20 and 25 years with corresponding premium paying terms of 12, 15 and 18 years. The plan provides a specified percentage of Sum Assured on survival up to specified durations. A life insurance cover is available throughout the term of the plan which increases after every five yearly intervals.
Jeevan Surabhi Premiums:
Premiums are payable yearly, half-yearly, quarterly, monthly or through salary deductions as opted by you throughout the premium paying term of the policy or till the earlier death.
Jeevan Surabhi Bonuses:
Jeevan Surabhi is a with-profit 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. Simple Reversionary Bonuses are declared per thousand Sum Assured annually at the end of each financial year. Once declared, they form part of the guaranteed benefits of the plan. A Final (Additional) Bonus may also be payable provided policy has run for certain minimum period.
Jeevan Surabhi Death Benefit:
The Sum Assured along with the additional cover, if any, plus all bonuses declared till death is payable in a lump sum upon the death of the life assured during the policy term. The survival benefits paid prior to death will not be deducted from the claim amount.
Jeevan Surabhi Survival Benefits:
A percentage of sums assured as mentioned below will be paid on your survival to the end of specified durations
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