Jeevan Mitra (Triple Cover Endowment Plan)

Jeevan Mitra Summary:
Jeevan Mitra – Triple Riskcover plan (Table No.133) is a refined version of endowment plan. Jeevan Mitra – Triple Riskcover is ideal for the persons who require high risk cover and at the same time want provision for certain needs. This plan is also good for persons availing housing loans etc.

This is an Endowment Assurance plan that provides greater financial protection against death throughout the term of plan. It pays the maturity amount on survival to the end of the policy term.

Premiums:
You can pay your insurance Premiums yearly, half-yearly, quarterly, monthly or through Salary deductions.

Bonuses:
Jeevan Mitra – Triple Riskcover is a with-profit insurance plan that participates in the profits of the LIC’s life insurance business. It gets a share of the profits in the form of bonuses. Simple Reversionary Bonuses are declared per thousand Sum Assured annually at the end of each financial year. Once declared, they form part of the guaranteed benefits of the plan. A Final (Additional) Bonus may also be payable provided a policy has run for certain minimum period.

Death Benefit:
3 times of Sum Assured + Bonus is payable in a lump sum upon the death of the life assured.

Accident Benefit:
4 times of SA + Bonus is given on accidental death provided policy was covered for accidental benefit.

Maturity Benefit:
The Sum Assured plus all bonuses declared up to maturity date is payable in a lump sum on survival to the end of the policy term.

Tax Benefit:
Tax Benefit is available on Premiums u/s 80C
Whereas Maturity/Death Claim u/s 10D

Loan Facility:
Loan is allowed after 3 years
Housing Loan Collateral: Thrice Basic sum assured.

General Conditions and requirements for Jeevan Mitra Triple cover
Min. age at entry: 18 years Jeevan Mitra
Max. age at entry: 50 years
Max. Maturity age: 70 years.
Min. S.A.: Rs. 50,000/-
Max. SA.: Any amount
SA in multiples: Rs. 5,000
Accident benefit per 1000 SA: Re. 1 extra.
Min Term: 15 years.
Max Term: 30 years.
Surrender of Policy: Yes
Revival: Yes
Housing Loan: Yes
Assignment: Yes
Survival Benefits: No
Permanent Disability Benefit: Available

Surrender Value :
Buying a life insurance contract is a long-term commitment. However, surrender value will be available under the plan on earlier termination of the contract.

Surrender:
The policy may be surrendered after it has been in force for 3 years or more. The guaranteed surrender value is 30% of the basic premiums paid excluding the first year’s premium.

Example:
If Mr. Amit takes Jeevan Mitra Policy for 1 lakh sum assured with 21 years term:
On maturity He will receive Rs.1 lakh + Rs.136500 (Bonus) + Rs.16000 (Terminal Bonus) Total: Rs. 2,52,500/-

In case of Natural Death after 5 years : Triple SA + Bonus for number of years premium paid + Terminal bonus if any. Rs.3 lakh + Rs.32500 (100x65x17) + 4000 (100×40)

How to Apply for LIC Of India’s Jeevan Mitra – Triple insurance cover?
Contact your nearest Life Insurance Corporation Of India (LIC of India) Branch/ LIC Agent. Or
Fill the Application form to apply online. (Mumbai only)

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Note:
The above is the product summary giving the key features of the plan. This is for illustrative purpose only. This does not represent a contract and for details please refer to your policy document.

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Comments

  1. mahadeb says

    i have jeevan mitra triple cover SA 500000. its of nov 2008 policy. if i surrender this policy right now i am losing 40% money i had deposited. can anybody tell me when should i surrender this policy so that i can atleast get the amount i deposit ?
    MAHADEB GHOSH, DEPUTY COMMANDANT, CRPF
    MOB- 9434788861

  2. rajesh jha says

    i have a policy sum insurred 55000 half yearly 1888/-
    i have run my policy three year and i want to surrender said policy
    what amount i reccive after deduction

  3. HIRAL PATEL says

    I HAVE PURCHASE JEEVAN MITRA TREEPAL RICK COVER WITH SUM INSURED RS.1200000. AND MONTHLY I PAY RS.5000 TILL 25 YEARS.I HAVE QUESTION WHAT AMOUNT I GET AFTER 25 YEARS??

  4. DHARAMVEER GUPTA says

    01.06.2012

    Dear Sir,

    Good afternoon

    We have take Jeevan Mitra policy T.No. 88 Sum Assured amount Rs.25000/- for 25 Years. Yearly we have paid 1040/- premium.

    My policy matured September 2012.

    Please confirm how much amount we will received at a time of maturity.

  5. Champak Phukan says

    I am in Jorhat, Assam. I want to know about the policy. I am now 47 yrs and want to know the yrly premium per lakhs for 15 yrs. Please provide point wise benifits and assurance giving by LIC on the policy.

    Regards

  6. Md.Amir Khan says

    i am 28 year old. i want to get insurance for rs.200000 jivan mitra scheme. please let me know how many primium paid for monthly sip seheme 20yr. policy. and also give information how many amount receive after 20 yr. and which type of benifit given by lic .please give me answer. thanking you

  7. Vijayakumar says

    Hi,

    I have a jeevan mitra T.NO.133 policy. The term is 24 years and sum assured is 85,000. I have paid for 11 years. Would like to know the surrender charges if i stop now. also, if i continue what is the additional benefit i would receive. how much loan can get on this policy in case if i pledge.

    Thanks,
    Vijay

  8. Meena says

    I want jeevan mitra plan for my husband whose date of birth is 20 Dec 1958.What will be the yrly premium (plan for 15yrs),also wants to know any other money back policy good for my husband with yrly low premium.

  9. manohar says

    i want jeevan mitra twenty five lakh tripple cover… my age is rnning 35 years and policy want for 15 years how mch per year premim

  10. sekhar says

    detail of product 133, for 20 & 22 years, monthly & early premium to pay. Age 3vings0 years, premium Rs. 20000 monthly , any savings if premium paid yearly ?

  11. Rajan Parab says

    Dear Sir

    I have jeevan mitra POlicy Jeevan Mitra – Triple Riskcover plan of Rs. 50000.00 And I paid yearly rs. 50000/- (Round off amount) and this policy is of about 15 / 20 years. How much money i will get at the time of maturity.

    pls send me the premium table for 15 / 20years.

    thanking you.

  12. Kushal kumar kurrey says

    dear sir ,i have taken Jeevan mitra 133 on 28/3/2003 .I have last premium up to 2010-2011 @Rs 23798/annum.I want take housing loan in near future .what amount i can get from this policy .the loan amount will be interest free or chargeable.@what% ?.kindly send me reply . thanking u

  13. ajeet kumar says

    in jeevan saral policy which is benificial for me. if i invest 24000 yearl for 15 years & if i invest 24000 yearly for 16 years. & please show me the maturity amount.

  14. sandeep says

    I want to go for Jeevan Mitra policy, my question is :
    1) after getting the policy, if the insured person unfortunately dies with in 1 year, whether nominee will get complete sum assured ? or partial SA
    ( 3 times SA in triple cover ?)

  15. rajrani says

    Dear sir,
    I am 24 year old. I have profit plus policy and i paid yearly rs.10000/- and this policy is of about 20 year. How much money i will get at the time of maturity. please give details about this policy money get into the shere market.

  16. Dinesh Shrimal says

    I am +24 year old. I want to purchase a term plan till my 58 year age which risk cover should be Rs.25,00,000

  17. Akash says

    Dear Sir

    I have jeevan mitra POlicy Jeevan Mitra – Triple Riskcover plan of Rs. 50000.00 And I paid half yearly rs. 2200/- (Round off amount) and yearly about 4500.00 and this policy is of about 20 year. How much money i will get at the time of maturity.

    thnks

  18. Mehar Singh says

    hello sir,

    i need a policy jeevan mitra triple benefit

    Rs. 100000/-

    date of birth 10-5-1969.

    please advice the premium

    thanks

    mehar singh
    9899773675

  19. p.vamseedhar says

    i am 34 years old. i want to get insurance for rs.500000 Jeevan Mitra (Triple Cover Endowment Plan).pls send me the premium table for 20years.thanking you.

  20. paresh d.kelawala says

    i am 34 year old. i want to get insurance for rs.250000 jivan mitra scheme. please let me know how many primium paid for monthly sip seheme 30 yr. policy. and also give information how many amount receive after 30 yr. and which type of benifit given by lic .please give me answer. thanking you

  21. shibu daniel says

    i hve alrady this plan
    am paying amt 18169 half yearly
    how many year i need to pay this
    sum assured is 500000
    plz gve me reply

  22. aarti shah says

    for
    jeevan mitra plan,
    for
    a person age 41 years if sa is 50000, term 15yrs,
    what amt I get at the time of maturity?
    in between is there any critical illness then can we get any benifit?
    during the term period if policy holder unfortunatly dead then what should be family get & balance premium family has to pay or not for continueing policy?

    aarti

  23. aarti shah says

    for
    jeevan mitra plan,
    for
    a person age 41 years
    if sa is 50000, term 15yrs,
    how much is yrly premium amt.?
    what benefit i should be get after how many year?
    is there any money back facility?
    how much minimum term i have to pay?

    aarti

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