LIC New Jeevan Mangal Plan: It is a micro insurance plan. Here investors get death benefit along with maturity. Under this insurance, if the policyholder dies suddenly, the family gets up to 7 times or 105% of the premium paid.
LIC New Jeevan Mangal Plan: Investing in the public sector company LIC is considered safe to get an insurance policy. LIC policy provides safe investment as well as better returns. LIC’s policy New Jeevan Mangal Policy is a plan under which investors can pay the premium in lump sum or in installments. Under this plan, investors get the premium back on maturity, as well as in-built accidental benefit. Here double risk cover is given in case of accident.
What is the age limit for the policy
The minimum age limit to invest in LIC’s New Jeevan Mangal policy is 18 years and maximum 55 years. This policy matures at the age of 65 years. Also, the policyholder gets a sum assured of at least Rs 10,000 and a maximum of Rs 50,000. If you choose a regular premium policy, you will have to pay an annual premium of Rs 1,191 for a policy with a sum assured of Rs 20,000 for 10 years.
How much cover is there on the policy
In case of death of a regular premium policy holder, his family gets up to 7 times or 105% of the premium paid. Whereas after the death of a single premium policy holder, this amount is up to 125% of the premium.
