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 Name | Table No. /Plan No. | Term (Policy duration) |
| Jeevan Surabhi | Table No. 106 | 15 years |
| Jeevan Surabhi | Table No. 107 | 20 years |
| Jeevan Surabhi | Table No. 108 | 25 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 yr | 8th yr | 12th yr | 15th yr | 18 yr |
| 15 yrs | 12 yrs | Rs.30,000 | Rs.30,000 | Rs.40,000 | – | – |
| 20 yrs | 15 yrs | Rs.25,000 | Rs.25,000 | Rs.25,000 | Rs.25,000 | – |
| 25 yrs | 18 yrs | Rs.20,000 | Rs.20,000 | Rs.20,000 | Rs.20,000 | Rs.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.
Income-Tax exemption:
- Premium paid under section 80C of the Income Tax Act within the overall cap of Rs 1 Lakh per annum allowed for tax savings.
- 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.
sir, i purchased(05/07/2011) lic jeevan surbhi (table-106) policy for 15 year , my sa is 200000 lac .d o m is 05/07/2026. i will be recived a sa of 30%, 30% and 40% , please tell me after maturity how much i will get.
with my best regards
I want P.A.C. Number of CENTRAL INDUSTRIAL SECURITY FORCE (CISF) for salary saving scheme. also I am 27 year old and how much money I get if I take Jeevan saral for 10 years of monthly 500 rs installment.
Mayuresh
sir,
I purchaged lic jeevan surbhi (table-106) policy for 15 year ,
my sa is 21,00,000 lac .d o m is – Nov. 2016.
I have recived sa of 30%, 30% and by Nov 2013, 40% , please tell me after maturity (d.o.m 2016) how much i will get.
Warm regards
Sir,
I have taken a plan of Jeevan Surabhi, 106,15,12. My DOB is 21-10-1982. My Sum Assured is 50,000 per annum. I know that i will get 30% after 4 years, 30% after 8th year and 40% after 12th year. But what amount i will get after maturity of this plan?
hanks for your valuable replay,
will you futher clear my dought
my pilicy is 106 Product Name Jeevan Surabhi lic – 15 Years
1> amt. of Rs.100000/-
2> how much we get money back 15th year.
Hi Sir/Madam,
My Jeevan Surabhi 25 years plan started on 17/01/2011, i have taken for half yearly payment mode for 1,00,000 SA, my agent told me to pay Rs.3952 for every Hly till 18 year so if calculate totally it will come around Rs.1,42,272. So my query is why should i have to pay extra Rs.42,272? and also send me the details for monthly, qtly and yly payment…
i hope you will do my needful…
thanking you
regards
Basavaraj
my jeevan surabhi plan started in 2007.when i get my first money back amount
hi sir,
can u pls let me knw abt Jeevan Surabhi policy and wat is the amount i hav to pay every month my details
age-25yrs
dob-27-09-86
sal-18000pm
my hubis dob -15-02-86
il b thankful if u can suggest me wit gud saving plan
thanks & regards,
shirisha
hi sir,
I wanted to knw abt 15 yrs money back policy (JEEVAN SURBHI) and wat is the amount i need to pay every month.
AGE-25YRS
DOB- 27-09-86
SAL-18000
MY HUSBANBANDS DETAILS-
AGE-30
DOB-15-02-80
can u pls help me wit this policy details and any other policy wit gud benifits il b greatful if u do this favour to me sir .
thanking you
thanks & regards,
shirisha
Sent presentation on your email.
i need to know about money back policies and pension plan…