Contents
- 1 LIC Jeevan Rakshak 827 Policy Review
- 2 Terms and Eligibility Conditions of LIC Jeevan Rakshak 827 Policy
- 3 LIC Policy Jeevan Rakshak 827 Rebates
- 4 LIC Plan Jeevan Rakshak Benefits
- 5 LIC Jeevan Rakshak policy Buying Procedure
- 6 LIC Jeevan Rakshak Claim Procedure
- 7 LIC Jeevan Rakshak Premium Calculator
- 8 LIC Jeevan Rakshak 827 policy Example
- 9 Additional Information of LIC Jeevan Rakshak 827 Policy
- 10 FAQ’s of LIC Jeevan Rakshak 827 policy
- 11 Related Lic Endowment Plans
LIC Jeevan Rakshak 827 Policy Review
LIC Jeevan Rakshak 827 Policy is a participating Endowment Plan and Regular Premium paying plan. It is a Traditional Plan with Bonus facility which gives you the dual benefit of protection and savings. LIC Jeevan Rakshak 827 Policy suits for all lower-income people. In this Policy Bonus is given in the form of Loyalty Additions after the completion of 5 years policy. Jeevan Rakshak LIC Policy provides this plan without any medical requirements.
In LIC Jeevan Rakshak 827 Policy at the stage of maturity, the policyholder gets the basic Sum Assured and the additional loyalty. If the policyholder dies during the policy term then the Sum Assured on death and the additional loyalty (if any) is paid to the nominee. Important information about LIC Jeevan Rakshak premium chart, policy details, benefits, conditions etc. are given below. Here, you can also calculate the premiums and benefits using Jeevan Rakshak Maturity Calculator and Premium Calculator.
Terms and Eligibility Conditions of LIC Jeevan Rakshak 827 Policy
| Entry Age |
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| Policy term |
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| Sum Assured |
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| Premium Paying modes |
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| Maximum Maturity age |
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| Maximum Cover Ceasing age |
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| Grace Period |
|
LIC Policy Jeevan Rakshak 827 Rebates
Sum Assured Rebate:
| Sum Assured | Rebate |
| Rs.75,00,000 to 1,45,000 | NIL |
| Rs.1,50,000 to 2,00,000 | For every Rs.1000 sum assured, Rebate is Rs.1.50 |
Mode Rebate:
| Mode | Percentage |
| Yearly | Table premium 2% |
| Half yearly | Table Premium 1% |
LIC Plan Jeevan Rakshak Benefits
Death Benefit:
In case of death of the Life Insured within the policy term, then the nominee gets ‘Sum assured on death’ and Loyalty Additions(if any) if death occurs after completion of 5 years policy term.
‘Sum assured on death’ means basic Sum Assured or 10 times of annualized premium or 105% of all premium paid on date of death.
Maturity Benefit:
On survival of policyholder till the end of the policy term, the policyholder gets Basic sum assured and additional loyalty (if any).
Income tax Benefit:
Life Insurance premiums paid up to Rs. 1,50,000 are allowed as a deduction from the taxable income each year under section 80 C and the Maturity Proceeds are tax-free under section 10(10)D subject to fulfilment of terms and conditions.
LIC Accidental Benefit Rider: Accidental benefit rider is available as an optional rider by payment of additional premium. In case of accident death, the Accident Benefit Sum Assured will be payable as lump sum amount along with the death benefit under basic plan.
LIC Jeevan Rakshak policy Buying Procedure
Documents required to buy fresh policy of LIC Jeevan Rakshak 827 Policy
- Application form/Proposal form along with photo
- Address Proof
- Age Proof
- Medical reports(if required)
LIC Jeevan Rakshak Claim Procedure
The documents required for claim procedure under LIC Jeevan Rakshak 827 Policy are given below
- NEFT form
- Discharge form
- Cancel check or Bank Pass book xerox
- Policy bond
- Death certificate
LIC Jeevan Rakshak Premium Calculator
The required data for calculating the premium rates in LIC Jeevan Rakshak 827 Policy using Lic Jeevan Rakshak Maturity calculator are,
- NAME :
- E-MAIL ID :
- MOBILE NUMBER :
- AGE :
- TERM :
- SUM ASSURED :
LIC Jeevan Rakshak 827 policy Example
If Harish had decided to take the LIC Jeevan Rakshak 827 Policy then the following details are given below
Age : 18 years
Sum assured : Rs.2,00,000
Policy Term : 20 years
Now, Harish is going to pay premiums with and without tax are tabulated below
| Premium | without tax | with tax |
| Yearly | 6758 | 6967 |
| Half-Yearly | 3415 | 3520 |
| Quarterly | 1725 | 1778 |
| Monthly | 575 | 593 |
Additional Information of LIC Jeevan Rakshak 827 Policy
Risk Coverage: Risk coverage will be provided till the end of term policy.
Date of Commencement of Risk: Means from first day of taking the policy.
Loan facility: Loan facilities are available after payment of premiums for at least 3 years under LIC Jeevan Rakshak 827 Policy.
Locking Period: If you are not satisfied with this policy you may return the policy within 15 days from date of receipt of the policy. After 15 days you are not eligible for cancelling the policy upto 3 years.
Income Tax Reduction: Available for premiums paid and for Maturity returns.
House Loan Surety: House loan surety is available under this LIC Jeevan Rakshak 827 Policy
Service Tax: 3.09% service tax is applicable. For more Information refer www.taxqueries.in.
Backdating interest: The policy can be backdated within the same financial year.
Assignments/Nominations: Assignees and nominees are possible under this LIC Jeevan Rakshak 827 Policy
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 policy.
Proposal Forms: Proposal Form no. 300 or 340 will be used under this LIC Jeevan Rakshak 827 Policy
Policy Revival: If the premium is not paid by you within the grace period then the policy will lapse. If you are interested to continue this policy then you can revive your policy on or before 2 years from date of first Unpaid premium.
Suicide clause: If the policy holder commits suicide for any of the reasons within 12 months of date of commencement of risk or from date of revival, then 80% of premium for what he had paid will be returned to his assignments or nominals.
Riders: Riders are available under this LIC Jeevan Rakshak 827 policy
Paid up value: Basic Sum Assured x (number of premiums paid / number of premiums payable).
Surrender value: The policy can be surrendered at any time during the policy term provided at least three full years premium have been paid.
- Guaranteed Surrender Value expressed as a percentage of total premiums paid, or
- Special Surrender Value which may be declared from time to time
Policy Stamping: Under LIC New Jeevan Rakshak 827 policy stamping charges will be 20 paise per thousand sum assured.
Loan Amount: Maximum 70% of surrender value.
No medical tests are required under this LIC New Jeevan Rakshak 827 policy.
Sum assured on death means basic Sum Assured or 10 times of annualized premium or 105% of all premium paid on date of death.
Example: If Naveen taken LIC New Jeevan Rakshak 827 policy for 20 years of sum assured Rs.1,00,000 then
Case1: If Naveen dies within 5 years then Nominee will get one lakh only.
Case2: If Naveen dies after 5 years then Nominee will get one lakh and Loyalty bonus also paid.
Case3: If Naveen survive till the end of the policy term then he will get 1 Lakh Plus Loyalty Bonus is paid.
FAQ’s of LIC Jeevan Rakshak 827 policy
Can I surrender my policy before maturity?
You can surrender your policy before maturity. A policy acquires surrender value after completion of three policy anniversaries and three annual premiums have been paid.
What is reduced paid up?
If the policyholder does not want to continue paying premiums but wants the cover to continue, then he can opt for the paid-up option whereby the sum assured is reduced and the future premiums are not payable. However, the policyholder will lose the rider benefits if he opts for the Reduced Paid-up option.
Is there any loan facility available in this policy?
Yes, loan facility is available after paying premiums for at least 3 years under LIC Jeevan Rakshak 827 Policy.
For more details please refer below given official link,
Click here for Lic Jeevan Rakshak Policy
Related Lic Endowment Plans
LIC Single premium Endowment Policy
hello sir
maine 827 no. plan 12years ki policy li hai . meri age 22 years thi jab maine policy shuru karwai thi. meri installment 1127 rupee jaa rahi hai per month ke hisaab se.
main janana chata hun ki mujhe policy end hone per kitni ammount ayegi
yhank you
Please consult your agent
jivan rakshk me montly 600 me maturity kya hogi
hi i want cell no i will contact u pls send my email id ur contact no
my cell no.is 9167378026
To,
Mr/Mrs/Ms : Seema
Plan : Jeevan Rakshak – 827
Age :25
Term :20
D.A.B. : 200000
Sum Assured :200000
1st year Premium With TAX 3.625% :
Yearly : 7033 (6787 + 246)
Halfly : 3554 (3430 + 124)
Quraterly : 1796 (1733 + 63)
Monthly(ECS) : 599 (578 + 21)
YLY Mode Average Prem/Day : 19
After 1st year Premium With TAX 1.81% :
Yearly : 6910 (6787 + 123)
Halfly : 3492 (3430 + 62)
Quarterly : 1764 (1733 + 31)
Monthly(ECS) : 588 (578 + 10)
YLY Mode Average Prem/Day : 18
Approximate Tax Saved Every Year : 2109
Total Approximate Paid Premium : 138323
Approximate Return at Maturity Time :
S.A. : 200000
L.A. : 110000
Total Approximate Return at Maturity Time : 310000
Medical Requirement :
NIL
भारतीय जीवन बीमा निगम
Manoj Sharma : 9911335083
mnjshrm638@gmail.com
10 saal ki policy lene par 88000 ke lagbhag rs milenge
Hello sir, i am taken policy jeevan rakshak 827. Paid premium 1950 half yr.basic sum accured is 75000 and policy term is 16 yr.
How much recived at the date of maturity.please suggest
You will receive around 1,50,000 at maturity
To,
Mr/Mrs/Ms : Praveen
Plan : Jeevan Rakshak – 827
Age :40
Term :16
D.A.B. : 75000
Sum Assured :75000
1st year Premium With TAX 3.625% :
Yearly : 3812 (3679 + 133)
Halfly : 1926 (1859 + 67)
Quraterly : 973 (939 + 34)
Monthly(ECS) : 324 (313 + 11)
YLY Mode Average Prem/Day : 10
After 1st year Premium With TAX 1.81% :
Yearly : 3746 (3679 + 67)
Halfly : 1893 (1859 + 34)
Quarterly : 956 (939 + 17)
Monthly(ECS) : 319 (313 + 6)
YLY Mode Average Prem/Day : 10
Approximate Tax Saved Every Year : 1143
Total Approximate Paid Premium : 60002
Approximate Return at Maturity Time :
S.A. : 75000
L.A. : 30000
Total Approximate Return at Maturity Time : 105000
Medical Requirement :
NIL
भारतीय जीवन बीमा निगम
Manoj Sharma : 9911335083
mnjshrm638@gmail.com
Please sent to all ditels in my email id.
Plan :Jeevan Rakshak(827)
Product Summary :
This is a regular premium paying Non-linked, With-Profits, Endowment Assurance plan.This plan shall be available to standard lives only without any medical examination andthe total Sum Assured under all the policies issued to an Individual under this plan shall not exceed Rs. 2 lacs.
Premium Payment Mode:
Yearly, Halfly, Quarterly, Monthly(ECS)
Term :
10 to 20 Years
Minimum Entry Age :
8 Year Completed
Maximum Entry Age :
55 Year (Nearest Birthday)
Maximum Maturity Age :
70 Year
Minimum Sum Assured :
75,000
Maximum Sum Assured :
2,00,000
Maximum Accidental Death and Disability Benefit Rider up to age 70.
Policy Benefits :
On Death :
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.
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.
On Survival :
On survival to the end of the policy term Basic Sum Assured along with Loyalty Addition, if any,shall be payable.
Surrendered Value :
The policy can be surrendered at any time during the policy term provided atleast three full years premiums have been paid.Guaranteed Surrender Value:
The Guaranteed Surrender Value shall be a percentage of total premiums paid (net of taxes) excluding any extra premiums and premiums for riders, if opted for. This percentage will depend on the policy term and policy year in which the policy is surrendered
Loan :
Loan facility is available under this plan,after payment of premiums for at least 3 full years subject to following conditions :
a. The maximum loan as a percentage of surrender value shall be 70percent in case of inforce policies and 60percent in case of paid-up policies.
b. The rate of interest to be charged for the loan amount would be determined from time to time by the Corporation.
Income Tax Benefit :
• Premium paid under this plan is eligible for TAX rebate under section 80c.
• Maturity under this plan is free under sec 10(10D).
Dear sir,,
I am taken policy jeevan rakshak 827. Paid premium 13353/-yr.basic sum accured is 200000,and policy term is 12 yr.
How much recived at the date of maturity.please suggest
Reply
Sir,
I had taken jeevan aastha policy with single premium of rs 48645.how much maturity amount i will get….
Mothaly tarm 506
good proces
good
hello sr, mai sanjay sharma plz ap mje itna bta saktey hai ki , mai agar 5k vali policy krvata hu to mje , yearly ka kitna premium bharna padega ….ar after 20 year kitna mje milega ..guranted …plz tell me
hello sir my policy no-827 winch is 16years policy. Paid premium 4680 half yr.basic sum accrued 200000 that’s was 16years and what my maturity on last premium date please reply as soo as possible.
what will be the yearly premium for 100000 SA for Jeevan Rakshak (827) for 12 years and what will be the maturity after 12 years?
How to pay LIC premium
sir Maine 827no plan ki policy10 year ki le hai quarterly 1628 ke kist hai poori hone par kitna amount ayega
sir . my age is 25 years and Investment rs 500 per months .. please tell me a good or better Lic scheme for 5 to 10 years..
TO
Manoj Sharma,
LIC – INDIA
Dear sir,
My age 21 . I want to details this plans & policy terms with benefits. This plans are :
1> JEEVAN RAKSHAK – 827,
2> JEEVAN ANAND – 815,
3> NEW ENDOWMEN POLICY,
4> SINGLE PREMIUM – 817,
5> SAGUN POLICY – 831 ,
6> JEEVAN LAKSHYA – 833,
7> JEEVAN SARAL – 165.
PLEASE SEND TO ME THIS INFORMATION.
lic very very impotent
Hello sir, i (26 year old) am taken policy jeevan rakshak 827. Paid premium 1459 /- rs Quarterly with my wife( 20 year old) .basic sum accured is 75000 and policy term is 20 yr.
How much recived at the date of maturity.please suggest
I am Anand from Bangalore, I am working with LIC company if you need any policy please contact me 8553851110
My aunt widow 55 yrs age proof pan card sum assured Rs 200000 can we buy it ?
Hi sir paid monthly 2700 and s a 75000 age 27 years period 20 year maturity how much?
Hi sir paid yearly 2700 and s a 75000 age 27 years period 20 year maturity how much?
Sir Maine Jeewan rakshak policy li hai. Meri age 28 years hai. Term 20 years. Rs. 3565 half yearly hai to maturity par kitna milega
hello sir
maine 827 no. plan 20years ki policy li hai . meri age 25 years thi jab maine policy shuru karwai thi. meri installment( Rs- 1758 )qutarly ja rha tha fir maine use half yearly ( Rs-3429) kara liya h ab mai use yearly (Rs-6914)kara liya h, ke hisaab se. main janana chata hun ki mujhe policy end hone per kitni ammount ayegi
yhank you
Me policy kar wale hai kaise or kitne ki
2/3 year ki ho
Hi, This is Deena from Chennai. Any one want policy details / planning to take policy in around Tamil Nadu please / Send sms / whats up 9944273217. / call 9884946099
i have 827 jivan rakshak policy for 16 years how many amount i will get at maturity
Is there any Medical checkup to buy this policy?
Medical tests are not required for buying this LIC Jeevan Rakshak Policy 827.
I have taken Jeevan Rakshak policy of Rs 2 Lakh for my grand daughter on completion of her 8th birthday in Jan. 2016.
Mode of payment is yearly. First year premium was Rs.6589+Tax. I do not remember the tax amount.
1)Please let me know what will be premium for next year with amount of S.T.for the subsequent years.
2)On completion of PPT, what we should expect in return i.e. maturity value plus bonuses etc. Total amount,I mean.
3)Finally after 20 years will their be waiting period of 1 year to receive the maturity proceeds or how it is please.
4)Is Jeevan Rakshak a wise investment for the minor child?
Thanks and look forward to your early reply.
DVDharkar