This document summarizes the key details of LIC's Jeevan Shikhar single premium insurance plan, including: - It provides a 10 times risk cover during the 15-year policy term and pays the maturity sum assured plus loyalty additions at maturity. - The minimum entry age is 6 years, maximum is 45, and minimum maturity sum assured is Rs. 100,000 with no maximum. - In case of death before 5 years, the premium is refunded, and after 5 years it pays 10 times the single premium plus loyalty additions. - Surrender value is allowed immediately with no lock-in period, and loan and nomination facilities are also available.

1. Posted on February 23, 2016 by Abhishek
Jeevan Shikhar
Single Premium Plan with Saving and Protection (10 Times Risk Cover)
LIC’s launched Jeevan-Shikhar, a traditional Single Premium Plan with Saving Cum Protection.
It provides 10 times risk cover during the policy term.
Sum Assured along with Loyalty Addition is payable at maturity.
It offers option to Choose Maturity Sum Assured.
Eligibility Conditions and Other Restrictions
Minimum Age : 6 years (completed)
Maximum Age : 45 years (Nearest Birthday)
Minimum Maturity Sum Assured : 1, 00,000/-
Maximum Maturity Sum Assured : No Limit
Maturity Sum Assured will be available in multiples of Rs. 20,000/-
Term of the policy : 15 years
Premium Payment Mode : Single Premium Only
Benefits
At the time of Maturity:
Maturity Sum Assured plus Loyalty Additions, if any
On Death:
Before commencement of risk -> Refund of Premium.
After completion of 5 years -> 10 times of Tabular Single Premium plus Loyalty Additions.
Rebate for High Maturity Sum Assured
Jeevan Shikhar – Single Premium Insurance Plan

2. Surrender Value : No Lock in Period – Immediate Surrender is allowed
Nomination/Assignment : Yes
Loan Facility : After 3 months
Service Tax : Will be charged as per the service tax laws and rate of service tax as applicable time to time.
Rebate : Under section 80C Premium is eligible for rebate. Maturity amount is tax free under section 10 (10D)
Backdating : Is allowed in the same finance year
For more details on Jeevan-Shikhar policy at your doorstep please Contact us
Insurance is the subject matter of solicitation.
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