Komal Jeevan Summary: (Table No.159)
LIC Komal Jeevan is a children’s Money Back Plan that provides financial protection against death during the term of the plan with periodic payments on survival at specified durations. Komal Jeevan can be purchased by any of the parents or grandparent or legal guardian for a child aged between 0 years to 10 years. The payment of the premium stops at the age of 18 years.

Who should buy Komal Jeevan?
In today’s competitive world, every parent dreams of the best education for their son/daughter. This policy is suitable for parents who dream to secure money for their children’s higher education.

Benefits:
The policy matures when the child grows up to be 26. Once the child attains the majority, the survival benefit is paid in four installments.

  1. 20% on policy anniversary after completing age 18.
  2. 20% on policy anniversary after completing age 20.
  3. 30% on policy anniversary after completing age 22.
  4. 30% on policy anniversary after completing age 24.
  5. Guaranteed addition + Loyalty Addition on completing age 26 (Maturity date)

Guaranteed additions :
The policy gives guaranteed additions at Rs 75 per Rs 1,000 sum assured on every policy anniversary till age 26.

Commencement of risk cover:
The risk commences only after the child attains age seven or two years after the commencement of the policy, whichever is later.

Premium Waiver Benefit:
Premium Waiver Benefit available with some extra premium amount.

Term Rider Benefit:
Term Rider Benefit can be availed by the proposer to the extent of 20% of the basic sum assured under the policy not exceeding Rs.1,00,000/-. The benefit will be payable in case the proposer dies before the policy anniversary on which the child is 18 years last birthday.

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Death Benefits

  • In case of death of the life assured before the commencement of risk, the policy is canceled and premiums paid are refunded.
  • After the commencement of risk, if the life assured dies before policy matures, the full sum assured plus guaranteed additions are payable without the deduction of earlier installment benefits paid.
  • Special benefit in maturity: Loyalty additions depending on policy duration and sum assured are paid on maturity.

Premiums:
Premiums are payable yearly, half-yearly, quarterly, monthly, or through Salary deductions, as opted by you, up to the policy anniversary immediately after the life assured (child) attains 18 years of age or till the earlier death of the life assured. Alternatively, the premium may be paid in a lump sum (Single premium).

Medical Exam:
No Medical Examination is required for the child. However, the proposer’s medical examination is compulsory.

Eligibility Conditions and Restrictions for LIC Komal Jeevan:

Min. age at entry: 0 years (Last Birthday)
Max. age at entry: 10 years (Last Birthday).
Min. S.A.: 1 lakh.
Max. SA.: 25 lakhs.
SA in multiples: Rs. 25,000
Max. Maturity age: 26 years (lbd).
Modes Allowed (Premium Payment): Yly/Hly/Qly/SSS/Sp
Min. PPT: 8 years. (Premium Paying term)
Max. PPT: 18 years.
Accident benefit: NA
Premium Rebate: Yly 2%; Hly 1%; Qly/SSS – Nil
Term Rider Option: Available
Critical Illness Rider: No
Policy Loan: No
Revival: Yes
Surrender of Policy: Yes
Survival Benefits: Yes
Housing Loan: No
P.W.B.: Yes


UpdateLIC Komal Jeevan Plan No. 159 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.

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  1. chidambaranayagan.p August 13, 2010 at 7:27 pm

    Dear sir,

    Policy No-753896976
    Money Back Policy

    We are like that continue the policy. what we can do this.
    Can you provide revival

  2. chidambaranayagan.p August 13, 2010 at 7:10 pm

    Dear sir,

    I have one Money Bakc policy, But we are not able prieum not retularly. Breaked on three years above. so we are like continue the policy. can you apply reval the policy.

    Please suggestin and make the route.

    Thanks
    Chidambaram

  3. Prabhat Kumar Chinya August 5, 2010 at 11:56 pm

    My grand daughter (one and three months old) is a citizen of USA by birth and now residing with her parent in USA. Her parents are Indian and now working in USA. Whether I can make one Kamol Jeevan policy for my Grand daughter ?

  4. sir
    i want one police in my child 2month old kindly give me detail witch policy mature in 18 year later.

  5. i have doubt to komal jeevan , childrens plans

    i want infomation to how much will be pay to yearly mony to childrens plains.

  6. I required home lone Rs 3 lacs for purchase a house how many % rate of intrest please give details

  7. 1.You have stated that Bonus and LA is not guaranteed but you will get that. Is Your statement above going to be recorded in the policy statement/money recipt issued to us.
    2.“Komal Jeevan” offers guaranteed additions at Rs 75 per Rs 1,000 sum assured on every policy anniversary till age 26.
    Will the above statement be mentionerd in the money recipt of the issued policy.

  8. Thanks for quick reply.The age of my grand daughter is 3 years.

  9. The chart showing premium payable is not displayed in the scheme.If the SA of my grand daughter is 10 lacs,what shall be the yearly premium as well as lump sum premium (payable only once).

    • Whats her age?

      Single premium would be between 7-7.5lacs and yearly would be approx Rs.75,000/-

  10. Dear Tabrej,

    Many Thanks for the reply.
    What you mentioned is Guaranted Additions, what about Loyalty Additions/ Bonus?

    Regards,
    Konal

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