LIC Jeevan Kiran Tamil with Premium Chart | Jeevan Kiran Plan 870 Tamil

LIC Jeevan Kiran full details in Tamil with Premium Chart Jeevan Kiran Plan 870 Tamil

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It is a Non-Linked, Non-Participating, Individual, Savings, Life Insurance plan which offers a combination of protection and savings. This plan provides financial support to the family in case of unfortunate death of the life assured during the policy term and returns the total premiums paid in case of survival till maturity.

Eligibility for LIC Jeevan Kiran
Let us look into the eligibility features of LIC Jeevan Kiran.

Minimum and maximum age at entry – 18 Yrs and 65 Yrs
Minimum and maximum age at maturity – 28 Yrs and 80 Yrs
Policy Term – 10 Yrs to 40 Yrs
Minimum Basic Sum Assured – Rs.15,00,000
Maximum Basic Sum Assured – No Limit
Premium Payment Options – Single or Regular (Equal to the term of the policy). For regular premiums, the options are Yearly or Half Yearly.
Loan – Not Applicable
How to buy? – Online or Offline (through agents)
Riders – For single premium policies, only an Accidental Death Benefit rider is available. However, for regular premium policies Accidental Death Benefit rider OR Disability Benefit Rider.
Benefits Of LIC Jeevan Kiran
Under this plan, there are two benefits and they are explained as below.

a) Death Benefit

The death benefit payable on the death of the life assured during the policy term after the date of commencement of risk but before the date of maturity shall be “Sum Assured on Death”.

The Sum Assured on Death for regular premium policies is higher of the below.

7 times of Annualized Premium; or
105% of “Total Premiums Paid” upto the date of death; or
Basic Sum Assured.
The Sum Assured on Death for single premium policies is higher of the below.

125% of Single Premium; or
Basic Sum Assured.
Your nominee is allowed to receive this death benefit in 5 years yearly, half-yearly, quarterly, or monthly options. You have to choose the option 3 months before the maturity. You have to choose this option during the policy period. Also, you are allowed to choose the option to receive some part as a lump and some part as an installment to your nominee.

b) Maturity Benefits

On Life Assured surviving the stipulated Date of Maturity, “Sum Assured on Maturity” shall be payable, where “Sum Assured on Maturity” is equal to “Total Premiums Paid” under Regular Premium Payment policy and “Single Premium Paid” under Single Premium Payment Policy.

Where, “Total Premiums Paid” means a total of all the premiums received, excluding any extra premium, any rider premium, and taxes. “Single Premium Paid” means a single premium received, excluding any extra premium, any rider premium, and taxes.

You are allowed to receive this maturity benefit in 5 years yearly, half-yearly, quarterly, or monthly options. You have to choose the option 3 months before the maturity.
LIC Jeevan Kiran New Term Plan – Should you buy?
Instead of adding a RETURN OF PREMIUM option in it’s existing term plan, LIC launched one more plan LIC Jeevan Kiran which basically a return of premium plan.

As you are going to get back the premium, obliviously you have to pay a hefty premium to it. Hence, rather than opting for this product, it is always best simple plain vanilla term plan.

However, I am not saying that one must stay away from this product. If you are FOND of getting back some peanut at maturity as a relief that your money is not wasted and you don’t know the time value of money, THEN PLEASE GO AHEAD.




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