Jeevan Surabhi

Summary:
LIC Jeevan Surabhi is a money-back plan. Jeevan Surabhi’s plan is similar to other LIC money-back plans. However main differences between regular moneyback plans and Jeevan Surabhi are as the Maturity term is more than the premium paying term. Early and a higher rate of survival benefit payment. A life insurance cover is available throughout the term of the plan. Risk cover increases every five years.

Jeevan Surabhi is a with-profit plan available in 3 different terms of 15 yrs, 20 yrs and 25 years.

LIC Jeevan Surabhi policy is divided into 3 tables depending on the term (Years):

Plan NameTable No. /Plan No.Term (Policy duration)
Jeevan SurabhiTable No. 10615 years
Jeevan SurabhiTable No. 10720 years
Jeevan SurabhiTable No. 10825 years
  • Accident Insurance:
    Accident Benefit is available
  • Benefits:
    Death Benefits:
    1. Accrued bonus is paid if the policyholder dies before maturity.
    2.  Sum Assured risk cover increases by 50%, Once in every 5 years.
    3. Already paid survival benefit to the policyholder will not be deducted from the death claim amount.
    4. If insurance is financed by parent’s income up to SA of 10 lakhs then this plan is allowed to minor females.
    5.  Life Risk cover increases without undergoing a special medical report or medical exam. You also don’t need to pay an extra premium.
    6.   Accident benefit is provided only on basic SA during premium paying term.

Survival Benefits:
Survival benefit for Rs. 1 Lakh basic  SA.

Policy Term PPT 4th yr8th yr 12th yr 15th yr 18 yr
15 yrs12 yrsRs.30,000Rs.30,000Rs.40,000
20 yrs15 yrsRs.25,000Rs.25,000Rs.25,000Rs.25,000
25 yrs18 yrsRs.20,000Rs.20,000Rs.20,000Rs.20,000Rs.20,000

Money Back :
Full sum assured is paid back (Money Back) as a survival benefit by the end of the premium paying term. However, the risk cover (Insurance) and additional risk cover continue and your policy participates in profits till the end of the policy term.  Jeevan Surabhi plan is suitable for professionals and Businessmen as they need money periodically.

Also Read  Jeevan Shree 1

Income-Tax exemption:

  1. Premium paid under section 80C of the Income Tax Act within the overall cap of Rs 1 Lakh per annum allowed for tax savings.
  2. On the claims received either by way of survival benefits or Maturity claims, whatever be the bonus accrued is also non-taxable.

Premiums :
You can pay Jeevan Surabhi Premiums yearly, half-yearly, quarterly, monthly, or through salary deductions.

Jeevan Surabhi Eligibility Conditions and Restrictions:

Min. age at entry: 14 years. (last birthday)
Max. age at entry:

  • 55 yrs for plan 106
  • 50 yrs for plan 107
  • 45 yrs for plan 108

Min. Sum Assured.: Rs.50,000/-
Max. SA.: No Limit
SA in multiples: Rs. 5000
Max. Maturity age: 70 years.
Min Term: 15 yrs
Max Term: 25 years.
Modes Allowed: All
Policy Loan: Available
Accident benefit per 1000 SA: Re. 1 extra.
Form Number: 300/340
This plan is not allowed for pregnant ladies and when occupation Extra is chargeable.

Example:
Let’s assume Mr. Dilip takes Jeevan Surabhi policy for 25 years for Rs. 1 lakh with Premium Paying Term (PPT) 18 years. After 4 years, he will receive Rs 20,000 and again in the 8th year Rs 20,000. If Mr. Dilip expires during the 10th year of the policy then his nominee will receive Rs. 2,00,000 (Rs.1,50,000 as claim and Rs.50,000 as bonus at an estimated Rs. 50 per thousand p.a. for 10 years).


Update:  Jeevan Surabhi Plan No.106, 107, and 108 Has Been Discontinued.


Note:
The above is the product summary giving the key features of the plan. This is for illustrative purposes only. This does not represent a contract and for details please refer to your policy document.

  1. I wanted to get money back policy (JEEVAN SURBHI)
    D.O.B 02/01/1964
    SA-15,0000/=
    POLICY TERM -12 YEARS
    would you like to guide me—
    1- How much premium i have to pay yearly
    2- How much money can i get back after how many years

    Thanking you and looking for your kind and sharp rpely.

    With my best regards
    Afzal Hasan

  2. I am interested in “JEEVAN SURBHI ” money back policy…my details are given below:

    1> D.O.B. 18/02/1978
    2> SA 1,00,000/-
    3> Policy term 12years

    would you be able to guide me…
    1> how much premium i have to pay on yearly basis?
    2> how much money can i get back at what frequency?
    3> What abt the bonus portion.?

    Thanks in advance
    Santha kumar.N.

  3. Can I get LIC bonus for Jeevan Surabhi which is due in December 2010 after 15 years of maturity in month of May 2010

  4. An N.R,I. residing in India and having his own buisness can have LL.I.C. policy?

    • Of course. NRIs can apply for LIC policy while their visit in India or directly from abroad. Let me know, if you need assistance in NRI policy.

  5. If a person holding foreign passport and residing in India since so many years, have his own buisness, can have a pension plan policy.

  6. dear sir / medam,

    In “JEEVAN SURBHI ” money back plocy, this is whole details of my husband…

    1> D.O.B. 5/5/71
    2> SA 50,000/-
    3> Policy term 12years

    will you pls guide me…
    1> how much premium we have to pay yearly basis?
    2> how much money can we get back after how many year?

    thanking you

    • Yearly Premium: Rs.5,761/- with double accidental benefit.
      Rs.15,000 money back every 4th year plus bonus on maturity.

  7. thanks for your valuable replay,
    will you futher clear my dought
    1> can we apply for SA amt. of Rs.50000/-
    2> how much our premium amt., how much we get money back periodicaly.

  8. dear sir/medam
    I am intrestted in “LIC jeevan surbhi ” moneyback plan. My policy term is 12years. My husband’s date of birth i s 5/5/71.
    Will you provide me premium payment details? How much I have to pay yearly basis premium?
    thanking you
    aarti

  9. Hi

    Could you please let me know in details about the LIC plan called Market Plus. What are its benefits and returns and also the sum assurred

    thanks
    Bharat

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