LIC's Jeevan Mangal

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LIC’s Jeevan Mangal is a micro insurance product which comes with weekly installment premium as low as Rs. 15.

This is a Term insurance plan with return of premium which means whatever you pay will be returned to you on the maturity.

Policy is basically aiming to cover every section of society and hence come with Sum Assured as low as Rs. 10,000 and premium as low as Rs. 15 per week.

Policy provides high level of flexibility in terms of premium payment. Aprt from Single, Yearly,Half-Yearly, Quarterly and monthly premium payment one can also opt for fortnightly or weekly intervals.

Basic Condition:

Minimum age at entry: 18 years (completed)
Maximum age at entry : 60 years (nearest birthday)
Maximum age at maturity : 70 years (nearest birthday)
Term : 10 to 15 years for regular premium.
10 years for single premium.
Minimum Installment Premium: Rs 15/-
Minimum Sum Assured: Rs. 10,000/-
Maximum Sum Assured: Rs. 50,000/-
(Sum Assured shall be in multiples of Rs. 1,000/-).

On death during the term of the policy the Sum Assured under the basic plan is paid.

On maturity, an amount equal to the total amount of premium paid during the term of the contract excluding the accident benefit premium and all extra premium, if any, is paid.

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