LIC Jeevan Sneha Plan

The Life Insurance Corporation of India always provides one stop solution for all the insurance needs of the customers. Keeping the requirements of women in mind, LIC has launched the most beneficial policy for women: LIC Jeevan Sneha. LIC Jeevan Sneha is a money back plan that offers a periodic return of sum assured with a facility to encash 20% of sum every five years till the tenure of the policy. This plan is exclusively designed for women and provides fund in times of needs like education, sickness, and marriage etc.

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Apart from being a money back policy, the LIC Jeevan Sneha can also be converted to pension and endowment plan before six months of the maturity. Focusing on the needs of women, the plan provides some extensive features.

Key Features of LIC Jeevan Sneha

    •  The plan is designed especially for women and secures their future by providing fund at the time of needs like sickness, marriage, education, etc.
    •  The females ranging from minimum 18 years to maximum 50 years of age are eligible to avail the policy. Moreover, physically challenged women can also avail the policy subject to certain conditions.
    •  The plan offers flexibility in premium payment.
    •  LIC Jeevan Sneha has a unique provision for payment of guaranteed addition and loyalty additions.
    •  The plan continues the life cover despite non-payment of premiums.
    •  At no extra cost, the plan provides coverage for pregnancy and childbirth along with accidental benefits.
    • On maturity of the policy, the plan provides an option for the annuity.
    • The plan provides a facility of periodic return of the sum assured. 

After the important features of the plan are discussed, now we will briefly discuss some of the benefits offered by the plan.

Death Benefit- During the tenure of the policy in case the life assured dies, the full sum assured is paid to the beneficiary of the policy along with the survival benefits. The plan also provides guaranteed addition and loyalty additions.

Guaranteed Addition- Along with the maturity and the death benefits, the guaranteed addition at Rs70 per Rs1000 sum assured for the whole years of premium paid is payable to the insured.

Loyalty Addition- If the policyholder duly pays off the premiums for at least 5 years, loyalty additions, along with claim payment can be availed.

Encashment of Survival Benefits When Needed- According to the option chosen by the policyholder, the survival benefits can be availed anytime on or after the due date. If the survival benefit is opted to avail later, then the survival benefit incremented at a rate of 11% compounded yearly is paid to the insured person.

Free Insurance Cover- If the premium payment is discontinued after 2 years of premiums have been paid, then the risk cover for the full sum assured will be in force for 3 years from the due date of first unpaid premium.        

Accident Benefit- Accidental benefit is available under this policy and is admissible during the period of an extended cover of the 3 years also without any extra premium.

Flexibility in Premium Payment- According to the convenience of the insured person, he/she can pay the next premium in advance at his/her convenience for which, a rebate of 10 % will be available. The advanced payment can also be given in installments.

Pregnancy and Childbirth Risk- During the tenure of the policy, the pregnancy and childbirth cost is also covered under the policy without paying any extra premium.

Option for Annuity- In place of maturity amount, before 6 months of the maturity date, the policyholder can opt for pension. The annuity rates prevalent at the time of maturity will be applicable.

Read More:-Best 5 LIC Policies for Investment in 2020

The insurance seekers can know more about the policy details with this table.


Minimum Entry Age

18 years

Maximum Entry Age

50 years

Maturity Age of Policy

70 years

Maximum Tenure of the Policy

20 years

Minimum Sum assured


Maximum Sum assured


Payment Mode


Tailored perfectly for women, LIC Jeevan Sneha policy allows one to achieve the important milestones of life and can have a secured future.

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