Life Insurance of India (LIC) has introduced a new single premium plan called “Jeevan Aastha” today.  This plan is open only for 45 days. I would suggest this plan for those who prefer Bank Fixed Deposit (FD).  Jeevan Aastha is as good as a Bank deposit plus Insurance. You need to pay only a ONE-time premium.
Jeevan Aastha ( Plan No. 195)

LIC Jeevan Aastha – One Time Premium Policy with Guaranteed Return

In this turbulent market scenario, LIC is providing you an opportunity for safe, highly reasonable, and guaranteed return along with risk cover through a new plan, “JEEVAN AASTHA”, launched on 8th December 2008. The plan is for a limited period of 45 days and is available for ages between 13-60 years for 5 years and 10 years term, attractive features of Jeevan Aastha is highlighted below.

1.    Investment Security: Ensures security of capital invested for 5/10 yrs.
2.    No Limit On Investment Amount: Starts from Rs.25,000/-
3.    Guaranteed Returns: 10 yrs 10% p.a. and 5 yrs 9% p.a. return
4.    Maturity Benefit: Maturity sum Assured + Guaranteed Additions + Loyalty Additions
5.    Easy Liquidity
6.    Loan on Policy facility available
7.    Live Cover available.
8.    Tax Exemption on Entry and Tax-Free Maturity As per Rules.

We are sure you would like to invest your money in “JEEVAN AASTHA” for secure returns.  We are just an email away. Or Just an SMS/call to give doorstep service.

Jeevan Aastha Features and details:

  1. Availability: 08-12-2008 to 21-01-2009
  2. One-time payment plan
  3. Guaranteed Returns + Loyalty Additions.
  4. High-Risk Cover
  5. Convenient Terms (5 Yrs and 10 Yrs)
  6. Tax Rebate and Tax-Free maturity

Maturity Benefits:

Maturity Sum Assured and Guaranteed Addition and Loyalty Addition, if any, Shall be payable. ( Maturity Sum Assured shall be 1/6th of Basic Sum Assured)

Death Benefit:

  • During the first policy year: Basic Sum Assured with Guaranteed Addition
  • After 1st policy year excluding last policy year: 1/3rd of Basic Sum Assured with Guaranteed Addition
  • During last policy year: 1/3rd of the S.A. Guaranteed Addition and Loyalty Addition, if any.
Also Read  LIC Jeevan Utkarsh

Guaranteed Addition:
Rs. 100 per thousand of Maturity Sum Assured per year for a policy of 10 years term.
Rs. 90 per thousand of Maturity Sum Assured per year for a policy of 5 years term.

Eligibility Conditions and Restrictions:

a:) Minimum Entry Age: 13 Years completed
b:) Maximum Entry Age: 60 Years ( Nearest birthday)
c:) Minimum Basic Sum Assured: Rs. 1,50,000/-
d:) Maximum Basic Sum Assured: No Limit
j:) Large Sum Assured Rebate: Available
e:) Policy Term: 5 or 10 years
f:) Mode of premium payment: Single Premium
g:) Loans: Available after 1 year
h:) Backdating interest: Allowed @ rate of 10% (for dating back in excess of one month)

Large Sum Assured Rebate: Calculated on per thousand basis.

Basic Sum AssuredRebate
Term – 5 yearsTerm – 10 years
Below Rs.3,00,000NilNil
Rs.3,00,000 to Rs.5,99,999Rs. 2.00Rs. 3.00
Rs.6,00,000 to Rs.11,99,999Rs. 2.50Rs. 3.50
Rs 12,00,000 and aboveRs. 3.00Rs.4.00

Example Single Premium rates per Rs.1000 Basic SA Table Below:

Age at entryPolicy Term 5 yearsPolicy Term 10 years

LIC’s Jeevan Aastha is a new single premium plan that offers life insurance cover and returns that are as good as bank fixed deposits. The plan is open for 45 days, and I suggest it for those who prefer bank FDs. The one-time premium makes this an affordable option, and the returns are locked in so there’s no risk of loss.

Update: Plan No.195 has been Discontinued.