LIC’s Jeevan Utkarsh Plan (T-846) is a close ended plan and will be available for sale from 06th September and for a maximum period of 270 days (Approx. 9 Months) only. LIC’s Jeevan Utkarsh is a single premium, with profits, saving cum protection plan and this plan provides a higher risk cover of ten times of premium paid.
- One time investment.
- Risk Cover 10 times of single premium paid.
- Best option to create wealth for future and this plan can be gifted to children from their parents / Grandparents to ensure child education and marriage expenses.
- Single premium plan means no future premium burden.
- Suitable for any family commitment.
- Settlement option is available for both maturity and death claim amount over a period of 5 or 10 or 15 years.
- Accidental & Disability cover available.
- Tax Benefit under section 80C up to ₹1.5 Lakhs.
- Unlimited tax free maturity.
- No share market risk, Government of India guarantee.
- Attractive Loyalty Additions.
- The policy can be surrendered at any time during the policy term.
- Loan facility is available under this plan after completion of 3 months only.
On death during first five policy years:
Before the date of commencement of risk:
Refund of single premium without interest.
After the date of commencement of risk:
“Sum assured on death” is payable.
On death after completion of five policy years:
“Sum assured on death” equal to 10 times of single premium paid along with loyalty addition, if any shall be payable.
On the life assured surviving the end of the term “sum assured on maturity” along with loyalty addition, if any shall be payable.
Minimum Age to Apply 6 Years (Completed) Maximum Age to Apply 47 Years (Nearest Birthday) Minimum Basic Sum Assured ₹ 75,000/- Maximum Basic Sum Assured No Limit Mode of Premium Payment Single Premium Only Policy Term 12 Years Loan After 3 Months