LIC's JEEVAN SURABHI is a Money back plan. Payment of premium ceases earlier to maturity. Apply now and get the receipt the next day.

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JEEVAN SURABHI(15, 20 and 25 Years)

LIC's JEEVAN SURABHI is available for 15, 20 and 25 years. Jeevan Surabhi plan is similar to other money back plans. However the main features are:

(a)Payment of premium ceases earlier to maturity. For a policy of 15 years, the premium paying term is 12 years only. Similarly for 20 years it is 15 years and for 25 years it is 18 years only.
(b)The risk cover increases by 50% of the Sum Assured once in every 5 years.

Survival Benefit:

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.

Death Benefit:

The Sum Assured alongwith 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.
If death occurs at anytime during the term of a policy (provided the policy has been kept in force by payment of all premiums that had fallen due), the basic sum assured along with the vested bonus will be paid. The survival benefits already paid, if any, will not be deducted from this claim amount. An additional amount (depending on the duration of the policy) will also be paid on death under such a policy.

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.