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LIC's Jeevan Shikhar (837) Premium Calculator

LIC's Jeevan Shikhar (837) Premium Calculator - LIC's Jeevan Shikhar Plan 837 Policy is a new endowment plan which is launched on January 11th, 2016 by LIC of India. The new LIC Jeevan Shikhar 837 Plan is available for 120 days (2 Month) only from the date of launching. LIC Jeevan Shikhar Endowment Plan is available to the customers on January 11th, 2016 to March 31st, 2016. The LIC Jeevan Shikhar 837 Plan is a non-linked, with profits, saving cum protection, single premium, and Close ended Plan. It is a single premium plan which provides the risk coverage of 10 times of the single premium and policy term of the policy is 15 years. The LIC Jeevan Shikhar Plan is taken from the age of 6 to 45 years.

LIC Jeevan Shikhar 837 Plan has an unique feature to the proposed on maturity benefit. The policyholder of LIC Jeevan Shikhar 837 Plan has an option to choose the sum assured of maturity benefit. It is single premium payment depends on the sum assured of maturity and on the age of life assured. LIC New Endowment Jeevan Shikhar Plan also provides the loan facility that take cares of your liquidity need. The Jeevan Shikhar 837 plan is successfully running in the public.

LIC Jeevan Shikhar Plan 837 Premium Calculator is help you to calculate your premium according to your basic informations.

 

Eligibility Conditions of the Policy (LIC's Jeevan Shikhar (837) Premium Calculator)

  1. Minimum Age: 6 years (completed).
  2. Maximum Age: 45 years (nearest birthday).
  3. Policy term: 15 years.
  4. Premium Payment Mode: Single Premium.
  5. Maturity Sum Assured (MSA)
    1. Minimum: Rs.1,00,000/-.
    2. Maximum: No limit.
    3. Maximum Sum Assured shall be in multiples of Rs. 2,00,000/-.

Buying Procedure (LIC's Jeevan Shikhar (837) Premium Calculator)

  1. Application form/Proposal form.
  2. The Revised Proposal Form Numbers are 300, 340 and 360.
  3. Address proof.
  4. Age proof.
  5. Medical reports(if required).

Claim Procedure:(LIC's Jeevan Shikhar (837) Premium Calculator)

  1. Original Policy Document.
  2. NEFT form.
  3. Discharge form.
  4. Cancel check or Bank Passbook xerox.
  5. Death certificate.
  6. Proof of Accident/Disability (For rider circular).
  7. Employer/ College/School certificate for proof.
  8. Medical Treatment before the death.

Additional Information:(LIC's Jeevan Shikhar (837) Premium Calculator)

Loan: Loan facility is available under this LIC New Jeevan Shikhar 837 Plan at any time of the policy period after completion of 3 months.

Suicide clause: If the policyholder commits suicide for any of the reason within 12 months of the date of commencement of risk or from the time of revival, then 90% of the premium for what he had paid will be returned to his assignees or nominees.

Policy Revival: If you do not pay the premium within the grace period then the policy will lapse. If you are interested in continuing this policy then you can revive your policy on or before 2 years from the date of first Unpaid premium.

Proposal Forms: Proposal Form no. 300 or 340 or 360 will be used under this LIC Jeevan Shikhar Plan 837.

Tax: Service Tax payable by the policyholder on premium. For information about Tax on Insurance Polices refer www.taxqueries.in.

Free Look (Cooling Off ) Period: If you are not satisfied with this policy term you may return the policy within 15 days from the date of receipt of the plan.

Backdating interest: The policy can be backdated within the same financial year.

Assignments/Nominations: Assignees and nominees are possible under this LIC New Jeevan Shikhar 837 plan. It is applicable under the Section 38 of Insurance Act, 1938.

Paid up value: Basic Sum Assured x (number of premiums paid / number of premiums payable during the premium paying term).

Surrender Value: This policy can be surrendered at any time, subject to Reliazation of the Premium Cheque. The guaranteed surrender value is the percentage of single premium paid.

  • For the 1st year: 70% of the Single Premium.
  • After Completion of 1st year and above: 90% of the Single Premium.

Policy Stamping: Under, LIC New Endowment Plan – Jeevan Shikhar 837 stamping charges will be 20 paise per thousand Sum Assured.

Reinsurance: Normal procedure is applicable for reinsurance.

 

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