LIC’s Jeevan Surabhi Plan is a non-unit linked, traditional, improved version of the Money Back plan. LIC Jeevan Surabhi plan holds a special interest to people who apart from saving money for their old age and family, need lump sum benefits at periodic intervals.
Let us further discuss the benefits and features of this LIC policy for 15 years.
Major differences between your regular money back plan and LIC Surabhi 15-year Plan are as follows
- Maturity term is more than premium paying term
- Early and a higher rate of survival benefit payment
- Risk cover increases every five years
- The Actual Term and Premium Paying Term for LIC Surabhi 15-year scheme are 15 years and 12 years respectively.
Key features of LIC Surabhi Plan for 15 years
Here are some key features of the LIC Surabhi plan that will help you understand the plan better with in-depth detail
- LIC Surabhi plan for 15 years is a limited premium money back plan
- Full Sum Assured is paid in the form of Survival Benefit by the end of premium paying term
- Bonus and final additional bonus shall be paid at the time of maturity if any.
- Extended risk cover for 3 years after premium payment
- The loan shall be available only after payment of 3 full premiums
Conclusion
LIC JeevanSurabhi Plan 106, a money-back plan is rightfully suited for you if you want lump sum money at every periodic interval. A plan that pays you back at regular intervals along with maturity benefits and other coverages can never be a bad plan for anyone.