Life Insurance Corporation of India has introduced various insurance plans under the name Jeevan. Some of the insurance policies under the name Jeevan are Jeevan Rekha, Jeevan Anand, Jeevan Surabhi 1, 2 and 3. Jeevan Mitra is also an integral part of this Jeevan LIC plan. Jeevan Kishore and Jeevan Chhaya are the two plans that are suitable only for kids.
This is a unique policy for kids and this allows a child to become the owner of the policy on attaining eighteen years of age. The amount can be used for any particular need of a child such as marriage or new start in life. There is no need for medical examination if a child is less then ten years of age. In this policy the bonus amount is usually high.
This is a policy that is suitable for the people of all ages. It is for those people who want to safeguard their family from financial distress. This plan offers payment of sum assured as well as the bonus amount on the death of the policyholder. The policy is meant to create an estate for the heirs of the policyholder.
Jeevan Mitra (Double)
This insurance plan is suitable for people of young ages who want to safeguard their families from any sort of financial distress. According to this policy, if the holder of this policy dies before the maturity of this policy then twice the basic sum assured would be provided to the family member since this policy provides additional insurance cover, which is equal to the sum assured.
Jeevan Mitra (Triple)
This insurance policy is suitable to the people of all ages. Although it is quite similar to Jeevan Mitra (Double) in many areas, the only difference lies is the amount that would be gained by the policy holder after the maturity of the policy. At the time of maturity the policy holder would get three times the actual sum assured. These are some of the Jeevan LIC policy. To know more about these policies, the one must get in touch with their LIC agent or contact their nearby LIC Office.