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.
[Note : This is isn't lic original website. This is only shear things ]
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