Overview
LIC regularly introduces plans to meet different customer needs. The LIC Komal Jeevan Plan is specially designed for children aged 0 to 10 years. When a newborn baby steps into the family, parents experience a mix of excitement and anxiety.
They become overwhelmed by the responsibilities of a new member, such as education, marriage, and health. While saving for your child's education and marriage, it is also significant to safeguard your child from life's uncertainties. The LIC Komal Jeevan Plan offers earned returns along with the sum assured, payable upon maturity or when the child attains 18 years of age, whichever is earlier. This plan offers a range of benefits including:
- Guaranteed Additions
- Loyalty Additions
- Maturity Benefits
- Surrender Value Benefits
- Death Benefits
How to Buy LIC Komal Jeevan Plan from PolicyX.com
- Visit the official website of PolicyX.com.
- Click on the 'Investment' tab.
- A new page will appear on the screen.
- Fill out the form at the top of the page with the necessary details.
- Select your income and city. Click on 'Proceed'.
- Update your education and occupation details.
- Choose your preferred plan and click on 'Buy this plan'.
- Select the policy term, premium period, investment amount, and riders (if required), and then proceed to pay.
Benefits of LIC Komal Jeevan Plan
There are various benefits to buying the LIC Komal Jeevan Plan. Let's understand each of them in detail:
- Death Benefit: If the insured person dies during the policy term, the death benefit is payable. If death occurs before the date of commencement of risk (typically within the first five policy years), a refund of premiums paid without interest will be payable.
- Maturity Benefits: If the insured survives till the end of the policy period and all due premiums have been paid, the Sum Assured on Maturity, along with Loyalty Addition, will be payable.
- Guaranteed Additions: The insured will receive a specified amount of additions to the sum insured at the completion of each policy year. An addition of ₹75 for a sum insured of ₹1000 will be provided. The accumulated amount is paid on the maturity date or upon the death of the assured.
- Loyalty Additions: The LIC Komal Jeevan Plan participates in the corporation's life insurance business, earning profits. These bonuses are paid upon the termination of the policy tenure or upon the death of the assured.
Additional Features of LIC Komal Jeevan Plan
Guaranteed Surrender Value
Under this feature, the assured is guaranteed a surrender value for a policy that has been in force for at least 3 years. The assured will receive a fixed surrender value equal to 90% of the premiums paid.
Premium Waiver
Upon payment of an additional premium, the assured can opt to terminate premium payments from the date of death until the end of the deferment period.
Avail Death Benefit in Installments
Your family has the option to avail death benefits in easy installments for a set tenure.
Survival Benefits
LIC will pay a defined percentage of the sum assured upon the survival of the policyholder. The percentage will depend upon the age of the assured.
How to Buy LIC Komal Jeevan Plan from LIC Website
- Visit the official website of Life Insurance Corporation of India.
- Hover over the 'Child Plans'.
- Click on the 'LIC Komal Jeevan Plan'.
- Click on 'Buy Online' and you will be redirected to a new page.
- Enter your name and contact information. One of their representatives will reach out to you and discuss the quotes.
- Once discussed, you can make the premium payment and get the policy documents.
Exclusions
- Suicide Clause: If the policyholder commits suicide within 12 months from the date of policy purchase, no death benefits will be offered to their family members. In such cases, either 80% of the premiums paid to date or the surrender value acquired to date, whichever is higher, will be paid.
Documents Required to Buy LIC Komal Jeevan Plan
Here is the list of documents required to buy the LIC Komal Jeevan Plan:
- Photo ID Proof: Passport, Aadhaar card, PAN card, Driving license.
- Age Proof: Passport, Aadhaar card, PAN card, Driving license.
- Address Proof: Utility bill, passport, voter ID, ration card.
- Medical Records: Medical records of the policyholder, if requested.
- Income Proof: Bank statement, last three months' salary slips (if salaried).
Plan at a Glance
| What's Good Here |
What's Missing |
| Death Benefits |
Premium Offset |
| Maturity Benefits |
High sum assured rebate |
| Guaranteed Additions |
Auto cover continuance |
| Loyalty Additions |
Top-up premium |
In a Nutshell
If you are looking for a plan that helps you secure the financial future of your child, then you must consider the LIC Komal Jeevan Plan. This plan offers guaranteed additions and loyalty benefits along with the base sum assured.
For more information related to this plan, you can visit PolicyX.com, or call us at 1800 - 420 - 0269. Our insurance experts listen to your unique needs and suggest the best possible solution for you.
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