LIC Jeevan Rakshak Plan is a participating non-linked plan that offers a combination of protection and savings. This plan provides financial support to the family in case the policyholder dies tragically any time before maturity and provides a lump sum amount at the time of maturity to the surviving policyholder.


**Main characteristics**


* Participatory Non-Linked Scheme

* Combination of security and savings

* death benefit

* Maturity Benefit

* Dividend

* Three policy terms: 10, 15 and 20 years

* Single premium or regular premium payment

* Many types of riders available


**Benefit**


* Death Benefit: On the death of the policyholder, the sum assured including dividends is paid.

* Maturity Benefit: On the survival of the policyholder, the basic sum assured along with dividends is paid.

* Dividends: During the policy term, the policyholder receives dividends.


**Ability**


* Minimum Age: 18 years (last birthday)

*Maximum Age: 70 years (nearest birthday)

* Minimum Sum Assured: ₹1,00,000

*Maximum Sum Assured: No limit


**Premium**


The premium amount depends on the policyholder's age, sum assured and policy term.


**Rider**


There are many types of riders available with LIC Jeevan Rakshak, such as:


* Accidental Death Benefit Rider

* Term Insurance Rider

* Critical Illness Rider


**conclusion**


LIC Jeevan Rakshak is a good plan that offers death benefit, maturity benefit and dividends to the policyholder. It is a companion plan, which means the policyholder gets dividends along with his sum assured. This plan is suitable for those looking for a whole life benefit plan that also includes dividends.


**Some benefits of LIC Jeevan Rakshak Plan:**


* This is a participating plan, which means the policyholder receives dividends during the policy term.

* This scheme is available without any medical test.

* This plan is available as single premium or regular premium payment.

* This plan is available with a variety of riders, which provide additional benefits to the policyholder.


**Some disadvantages of LIC Jeevan Rakshak Plan:**


*This plan is a non-linked plan, which means the sum assured paid on the death of the policyholder will be based on the premium amount paid at the inception of the policy.

* This scheme is a traditional scheme, which means there is no investment component.


**How to apply for LIC Jeevan Rakshak Plan:**


You can apply by visiting your nearest LIC office or online on LIC website. You must submit the following documents when applying:


* Identity card of the policyholder

* Address proof of the policyholder

* Photo of the policyholder

* Check or demand draft to pay the sum insured


LIC Jeevan Rakshak Plan is a good plan that offers death benefit, maturity benefit and dividends to the policyholder. This plan is suitable for those looking for a whole life benefit plan that also includes dividends.


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