LIC Jeevan Mitra Double Cover Plan

We’re sure you’ll agree that there is nothing more painful than the death of a family member. It gets even painful if the deceased is the breadwinner of a family. Given the uncertainties of life, it’s important than ever for anyone to ensure adequate life insurance cover. Jeevan Mitra Double Cover Life (Table No. 88) has been carefully conceptualized by LIC to meets the risks of modern day life. This double benefit endowment plan redefines the conventional concept of insurance plans and is different from all other traditional endowment plans available in the market.

Read more
Best Investment Options
  • Save upto ₹46,800 in tax under Sec 80C

  • Inbuilt Life Cover

  • Tax Free Returns Unlike FD

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Get Guaranteed returns along with life cover
invest in 100% Guaranteed Return Plans Tax benefits under sec 80C & No Tax on returns*
View Plans
Please wait. We Are Processing..
Plans available only for people of Indian origin By clicking on "View Plans", you agree to our Privacy Policy and Terms of Use #For a 55 year on investment of 20Lacs #Discount offered by insurance company Tax benefit is subject to changes in tax laws
Get Updates on WhatsApp

Under this plan, if the life assured is deceased during the term of the policy, the life insurance cover double folds itself. In the event of the life assured surviving the policy term, the basic Sum Assured with all accrued bonuses is paid out to the policy holder.

Let’s check out just some of the many benefits provided by this plan.

Key Features and Benefits:

  • Maturity Benefit – As per the terms stipulated by the policy, the policyholder or the nominee is entitled to receive the basic sum assured as well as the simple reversionary bonuses on the maturity of the policy. Furthermore, a final additional bonus is also paid. 
  •  Death Benefit – If the life assured meets with an untimely death during the policy term, then the nominee is liable to receive 2 times the basic sum assured. Additionally, the nominee will also be provided with a final annual bonus as well as the vested simple reversionary bonuses. 
  • Survival Benefits – If the policyholder survives the term of the policy, they receive the basic sum assured in addition to the accrued bonuses. 
  • Riders –Those purchasing this policycan also opt for accidental death benefit rider and Critical Illness rider, at any point in time, within the premium paying term. This can be done by paying an additional premium. The cover provided by these riders is available throughout the policy term. However, it is available only till the policy is in effect. 
  • Rebates – The policy offers rebate on the selected mode of premium payment and on the sum assured. 

Here’s a table of rebates available on the mode of premium payment: 




3% of tabular premium

Half - Yearly

1.5% of tabular premium




Here’s a table of rebates available on the Sum Assured: 

Sum Assured


Up To Rs. 50,000


Rs. 50,001 To Rs. 1,00,000

Re. 1 Per Thousand

Rs. 1,00,001 And Above

Re. 2 Per Thousand


Now that you know the benefits of this plan, it’s time to get acquainted to the eligibility conditions of this amazing double benefit LIC policy.

Eligibility Terms of LIC Jeevan Mitra Double Cover Policy (Table no. 88)




Sum Assured

Rs. 50,000

No Limit

Policy Term

15 years

30 years

Entry Age



Cover Ceasing Age



Payment modes

Yearly, Half-yearly, Quarterly, Monthly and SSS

Grace Period

Monthly mode of payment – 15 days

Quarterly/Half-Yearly/Yearly mode of payment – 30 Days 

Policy Revival

Within 2 years from date of first unpaid premium


Check out the table below for the key features of LIC Jeevan Mitra Cover Policy (Table no. 88)

Survival Benefit

Basic Sum Assured + Accrued Bonuses

Special Features

  • Simple reversionary bonus payable on maturity or earlier death
  • Large sum assured
  • Accidental death benefit and critical illness riders are available

Death Benefit

If policyholder dies within policy term, then nominee is given death benefit

2 X sum assured + vested bonus

Tax Benefit

Premiums are exempt under Section 80 C and Maturity payout is exempt under Section 10 (10D)


Documents Required

Here is the list of documents that are required to buy this LIC policy –

  • Proposal/Application form with photo
  • Address Proof
  • Age Proof
  • Medical Reports (if required)

Policy Exclusions

If the life assured commits suicide (whether sane or insane) within one year of the date of risk commencement.

You may also like to read : Best LIC Policies in 2020

Over to You!

Jeevan Mitra Double Cover Endowment Plan (Table No-88) has been withdrawn by LIC. But you may easily use this learning and find a similar LIC policy that promises benefits galore.

Please Note: This policy has been withdrawn. It is no more available for Sale. For more and updated information, please visit LIC’s official website.  

More Useful Resources

LIC Online Services

LIC Investment Plans

LIC Other Plans

Check LIC Policy Details Online

LIC Jeevan Umang Plan

LIC Term Plans

LIC Online Premium Payment Process 

LIC Jeevan Lakshya Plan

LIC Retirement Plans

LIC Online Registration

LIC Money Back Policy


LIC of India Login Process

LIC New Jeevan Anand

LIC Child Policies

LIC Calculator

LIC New Endowment Plan

LIC One Time Investment Plan

Written By: PolicyBazaar - Updated: 05 July 2021

Investment plans articles

Recent Articles
Popular Articles
How to Invest Money

25 Nov 2021

The investment made today is the asset created for tomorrow...
Read more
Gold Bonds in India for NRIs

24 Nov 2021

Gold is an asset whose value increases over time that may be...
Read more
PIS Account for NRI

24 Nov 2021

Non-Resident Indians can operate in the recognized stock...
Read more
Process to Fill SSY Form in Post Office?

20 Nov 2021

The Sukanya Samriddhi Yojana (SSY) is a post office scheme...
Read more
How to Fill a Post Office Savings Bank Form?

20 Nov 2021

Post Office Savings Bank Account is a deposit scheme with easy...
Read more
Best LIC Policies For Investment in 2022
When it comes to purchasing a life insurance plan, 'LIC policies' are the most popular choice for customers. LIC...
Read more
Short Term Investments Options
Short-term investments can be described as temporary investments or marketable securities, which can be easily...
Read more
Post Office Monthly Income Scheme - MIS Interest Rate 2022
Are you looking for an investment avenue which is safe and secure, earns substantial returns with a short locking...
Read more
SBI Life Insurance Plans in India
SBI Life Insurance, a joint venture between State Bank of India (SBI) and BNP Paribas Assurance, provides...
Read more
State Bank Of India Investment Plans
Monthly investments plan is a popular investment options for individuals who wants to gain a profitable investment...
Read more
Download the Policybazaar app
to manage all your insurance needs.