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LICs Jeevan Surabhi

Summary:LIC Jeevan Surabhi is a money back plan. Jeevan Surabhi plan is similar to other LIC money

back plans. However main differences in regularmoneyback plansand Jeevan Surabhi are as

Maturity term is more than premium paying term. Early and higher rate of survival benefitpayment. A life insurance cover is available throughout the term of the plan. Risk cover

increases every five years.

Jeevan surbhi is a with-profits plan available in 3 different terms of 15 yrs, 20 yrs and 25 years.

LIC Jeevan Surabhi policy is divided into 3 tables depending on the term (Years):

Plan Name Table No. /Plan No. Term (Policy duration)

Jeevan Surabhi Table No. 106 15 years



Accident Insurance:Accident Benefit is available

Benefits:

Death Benefits:1. Accrued bonus is paid if the policy holder dies before maturity.

2. Sum Assured risk cover increases by 50%, Once in every 5 years.3. Already paid survival benefit to policy holder will not be deducted from the death claim

amount.

4. If insurance is financed by parents income up to SA of 10 lakhs then this plan is allowed to

minor females.5. Life Risk cover increases without undergoing special medical report or medical exam. You

also dont need to pay extra premium.

6. Accident benefit is provided only on basic SA during premium paying term.

Survival Benefits:Survival benefit for Rs. 1 Lakh basic SA .
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Policy

TermPPT 4th yr 8th yr 12th yr 15th yr 18 yr

15 yrs12

yrsRs.30,000 Rs.30,000 Rs.40,000 - -

20 yrs 15yrs Rs.25,000 Rs.25,000 Rs.25,000 Rs.25,000 -

25 yrs18

yrsRs.20,000 Rs.20,000 Rs.20,000 Rs.20,000 Rs.20,000

Money Back :Full sum assured is paid back (Money Back) as survival benefit by the end of premium paying

term. However, the risk cover (Insurance) and additional risk cover continues and your policy

participates in profits till the end of policy term. Jeevan Surabhi plan is suitable for professionals

and Businessmen as they need money periodically.

Income-Tax exemption:

1. Premium paid under section 80C of the Income Tax Act within the overall cap of Rs 1Lakh per annum allowed fortax savings.

2. On the claims received either by way of survival benefits or Maturity claims, whatever bethe bonus accrued is also non-taxable.

Premiums :You can pay Jeevan Surabhi Premiums yearly, half-yearly, quarterly, monthly or through salary

deductions.

Eligibility Conditions and Restrictions:Min. age at entry: 14 years. (last birthday)

Max. age at entry:55 yrs for plan 106

50 yrs for plan 107

45 yrs for plan 108

Min. Sum Assured.: Rs.50,000/-

Max. SA.: No Limit

SA in multiples: Rs. 5000

Max. Maturity age: 70 years.

Min Term: 15 yrsMax Term: 25 years.

Modes Allowed: All

Policy Loan: Available

Accident benefit per 1000 SA: Re. 1 extra.

Form Number: 300/340

This plan is not allowed for pregnant ladies and when occupation Extra is chargeable.
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Example:Lets assume Mr.LIC takes Jeevan Surabhi policy for 25 years for Rs. 1 lakh with PremiumPaying Term (PPT) 18 years. After 4 years, he will receive Rs 20,000 and again in the 8th year

Rs 20,000. If Mr. LIC expires during the 10th year of the policy then his nominee will receive

Rs. 2,00,000 (Rs.1,50,000 as claim and Rs.50,000 as bonus at an estimated Rs. 50 per thousand

p.a. for 10 years).
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jeevan surabhi_106_107_108

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