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LIC's Jeevan Rakshak-827

Jeevan Rakshak (Plan No. 827) is a regular premium paying Non-linked, With-Profits, Endowment Assurance plan. This plan shall be available to standard lives only under non-medical limit and the total Sum Assured under all the policies issued to an Individual under this plan shall not exceed Rs. 2 lakhs.



Death benefit:

On death of the Life Assured during the policy term "Sum Assured on Death" shall be payable, which is the highest of

  • Basic Sum Assured; or
  • 10 times of annualized premium; or
  • 105% of all the premiums paid as on date of death.
LIC Jeevan Rakshak Plan

The premium mentioned above excludes taxes, extra premium and rider premiums, if any. In addition to the above, Loyalty Addition, if any, shall also be payable if death occurs after completion of 5th policy year.

Maturity Benefit:

On survival to the end of the policy term Basic Sum Assured along with Loyalty Addition, if any, shall be payable.

Participation in Profits:

Provided the policy is in full force, then depending upon the Corporation's experience the policies under this plan will be eligible for Loyalty Addition. The Loyalty Addition, if any, is payable at such rate and on such terms as may be declared by the Corporation on death after completion of 5thpolicy year or on Policyholder surviving to the maturity.

LIC's Accidental Death and Disability Benefit Rider: LIC's Accident Benefit Rider is available as an optional rider by payment

Optional Benefit:

LIC's Accident Benefit Rider is available as an optional rider by payment of additional premium during the term of the policy. If there be more than one policy with which this or any other Rider covering Accidental Deaths is attached and if the total Accident Benefit Sum Assured under all such policies exceeds Rs.50 lakhs, the benefits shall apply to the first Rs. 50 lakhs Accident Benefit Sum Assured in order of date of policies issued. If this benefit is opted for, and if Life Assured is involved in an accident, leading to death and such incident shall occur within 180 days from the date of accident then an additional amount equal to the Accident Benefit Sum Assured is payable. However, the policy shall have to be in force at the time of accident irrespective of whether or not it is in force at the time of death.

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