LIC Jeevan Kiran (Plan 870): New Term Insurance Plan – Check Minimum Premium, Eligibility, Benefits

financialexpress.com:

LIC Jeevan Kiran (Plan 870): The Life Insurance Corporation of India (LIC) has launched a new plan named Jeevan Kiran. This is a term insurance plan best suited for working individuals who have dependents (Children, parents) and are looking for a considerable sum of protection against uncertainties of life (death) at fairly low prices.

“LIC launches a brand new plan – LIC’s Jeevan Kiran. A non-linked, non-participating, individual, savings, life insurance plan,” LIC tweeted today (July 27).

As per information on the insurer’s website, LIC’s Jeevan Kiran is a Non-Linked, Non-Participating, Individual, Savings, Life Insurance plan.

“This plan provides financial support to the family in case of unfortunate demise of the life-assured during the policy term and returns the total premiums paid (excluding any extra premium, any rider premium and taxes etc.). in case of survival till maturity,” the website says.

This plan can be purchased online directly through LIC website as well as Offline through LIC’s agents and other intermediaries.

As per information on LIC’s website, when the policy is in force, the Sum Assured on Maturity payable will be equal to “Total Premiums received by LIC” (excluding any extra premium, any rider premium and taxes etc.) under Regular Premium or under Single Premium Payment Policy. The life insurance coverage will get terminated automatically after the maturity date.

In case of unfortunate death of the Life Assured during the policy term after the date of commencement of risk but before the stipulated Date of Maturity, the Sum Assured on Death (if policy is in force) will be as follows:

(1) For Regular Premium Payment policy, ‘Sum Assured on Death’ will be the highest of

• 7 times of Annualized