LIC’s KOMAL JEEVAN is a tailor made policy which secures your child’s educational and careers aspirations and also provides your child with a financially secure and comfortable life after that.

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KOMAL JEEVAN



LIC's KOMAL JEEVAN is a Children's Money Back Plan that provides financial protection against death during the term of plan with periodic payments on survival at specified durations. This plan can be purchased by any of the parent or grand parent for a child aged 0 to 10 years.
The risk commences either after 2 years from the date of commencement of policy or from the policy anniversary immediately following the completion of 7 years of age of child, whichever is later.


Survival Benefit:

The percentage of sum assured as mentioned below will be paid on survival to the end of specified durations:
18 years : 20%
20 years : 20%
22 years : 30%
24 years : 30%

Death Benefit:

In case of death of the life assured before the commencement of risk, the policy shall stand cancelled and premiums paid (excluding the Premium for Premium waiver Benefit ) under the policy will be refunded. However, if death occurs after the commencement of risk but before the policy matures, the full Sum Assured plus Guaranteed Additions together with Loyalty Additions, if any, is payable.

Premium Waiver Benefit:

This is an optional benefit that can be added to your basic plan. An additional premium is required to be paid for this benefit. By payment of this additional premium, the proposer can secure the benefit of cessation of premiums from his/her death to the end of the deferment period. The deferment period for this purpose is to be taken as 18 minus age at entry of child.

TAX SAVING :
Premium paid in that financial year towards all life insurance come  with Tax rebate under Sec 80C and in case of Health insurance under sec 80D.