LIC Jeevan Azad Plan No. 868– Eligibility Criteria, Benefits etc.
LIC’s Jeevan Azad (Plan No. 868, UIN : 512N348V01)
Last up-date : 13/6/2023
LIC Jeevan Azad Plan is a savings life insurance plan that is not linked to the stock market and does not share profits with policyholders. It’s a limited premium endowment plan where you pay premiums for a period that is 8 years less than the policy term. The total basic sum assured under this plan for an individual cannot exceed ₹5,00,000. You can buy this plan offline through agents or other intermediaries, or online directly from the LIC website at www.licindia.in
LIC Jeevan Azad Plan – Eligibility Criteria
Age
Minimum/Maximum
Sum Assured
Minimum/Maximum
Premium Paying
Minimum/Maximum
Policy Term
Minimum/Maximum
Preferred Mode
–
–
Key Points
LIC Jeevan Azad Plan – Benefits
| Benefits | Description |
|---|---|
| Maturity Benefit | If you’re still alive when your policy reaches its end date, you’ll receive a payout called the “Sum Assured on Maturity,” which is the same as the Basic Sum Assured you initially chose. |
| Death Benefit | If the insured person dies during the policy term, their beneficiaries get a payout called “Sum Assured on Death,” which is either the Basic Sum Assured or 7 times the Annualized Premium, whichever is higher. This payout will be at least 105% of the total premiums paid. If you have LIC’s Premium Waiver Benefit Rider and the policyholder dies, waived premiums are added to the total premiums paid. If the insured person is a minor and dies before the risk starts, premiums are refunded, excluding taxes and extra premiums. |
नोट - सभी पाठक ध्यान दे! हो सकता है की लेख में लिखित कुछ प्रक्रियाएं वर्तमान समय में अधिकारिक वेबसाइट पर सक्रिय नहीं है। अत:सभी प्रक्रियाएं सक्रिय हो जाने पर आप लेख में लिखित तरीकों से सभी प्रक्रियाओं की जानकारी प्राप्त कर सकत है।
LIC Jeevan Azad Plan : Documents Required
1. Income/Investment Proof
- Salary Certificate
- Certificate from a Chartered Accountant
- Income Tax Returns (ITRs) for the last 3 years (all pages)
- Income from a Partnership Firm
- Income from a Proprietary Firm or Profession
- Income from Private Limited or Public Limited Companies
- Bank Statements for the last 3 months (only as supporting proof)
- Export Income
- Form 16 for the last 3 years
- Salary Slips or Salary Certificate for the last 3 months
- Employment Appointment or Offer Letter
(only PDF format, max file size is 500KB)
2. Self Cancelled Cheque
(only PDF format, max file size is 500KB)
3. Communication Address Proof
(only PDF format, max file size is 500KB)
- Utility Bill
- Property/Municipal Tax Receipt
- Bank Passbook
- Pension Orders
- Allotment Letter/Lease Agreement
- Documents issued by the Government
- Passport
- Driving License
- Voter ID
- Masked Aadhaar Card/Masked e-Aadhaar Card
3. Birth Certificate (only for minors)
(only PDF format, max file size is 500KB)
4. Photograph (35X45 MM)
(only JPEG format, max file size is 500KB)
5. Signature
(only JPEG format, max file size is 500KB)
6. Offline e-KYC instructions
- Go to the myAadhaar website and log in using your Aadhaar number.
- Enter the Captcha, then click ‘Send OTP’. You will receive an OTP on your registered mobile number. Enter the OTP to log in.
- A list of services will appear. Select ‘Offline KYC’.
- Create a 4-digit share code of your choice and remember it.
- Click on ‘Download’ to get a zip file.
- On LIC’s Aadhar eKYC page, enter your mobile number and the 4-digit share code you created.
- Upload the zip file you downloaded.
- Your eKYC is complete.
HOW TO APPLY ONLINE FOR LIC Jeevan Azad Plan
Step-1st
- Fill Basic Details like Name ,gender , D.O.B, email id , Mobile Number , Annual Income, residential address
Step- 2nd
Fill Basic Sum Assured , Policy Term*, Premium Paying, Preferred Mode, Under NACH**
* The “premium paying term” is the period during which you need to pay premiums for your insurance policy. It tells you how long you will make payments to keep the policy active.
**Policyholders can allow their insurance company to automatically take the premium amount from their bank account on specific due dates using the NACH system.
Note- {Minimum/Maximum ( Basic Sum Assured ) = 2 lakh / 5 lakh } and {Minimum/Maximum Policy Term = 15/20 year } and { min/ max Premium Paying term = 7/12 }
Step- 3rd and last step
Fill Accidental Benefit Required and Sum assured
finally you will see look like this
DISCLAIMER : This blog is solely for providing updates and helping you understand policy changes easily. However, we are not responsible for any misinformation. For accurate information, please visit the official page.
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