LIC Jeevan Azad 868 Plan | Benefits, Features & Eligibility

Are you looking for the “LIC Jeevan Azad 868 Plan“? Then you are at the right place, Today we will tell you all about this plan and its benefits, features, and eligibility. Let’s start.

Everyone knows about LIC because it is a very reliable insurance company Trusted Insurance Company. And it provides many insurance plans and provides the most life insurance plans. LIC provides for all types of financial security, life, and health. The best thing about this company is that it offers good financial security for a few rupees. This is a very old company and has been providing insurance services to people for a long time.

Life Insurance Corporation of India (LIC India) is a big name in the life insurance business because it keeps on providing new offers to customers from time to time. A plan LIC Jeevan Pragati Plan has been started by the company in 2023. In this post, you will be told what is LIC’s Jeevan Pragati Plan and how to take LIC Jeevan Azad Plan. LIC 868 plan maturity calculator

LIC Jeevan Azad 868 Plan

What is the LIC Jeevan Azad 868 Plan? :- Life Insurance Corporation of India launched a new plan, LIC Jeevan Azad on 19 January 2023. This scheme is designed to provide dual benefits of Security and Saving. In case of unfortunate death of the policyholder, the plan will provide a death benefit to the nominee. On the other hand, if the policyholder survives till the end of the policy term, he will receive the maturity benefit.

LIC Jeevan Azad 868 Plan | Benefits, Features & Eligibility

LIC Jeevan Azad 868 Plan | Eligibility Criteria

Parameters Minimum Maximum
Entry Age ( in years ) 90 days 50 years
Maturity Age ( in years ) 18 years 70 years
Policy Term 15-20 years
Premium Paying Term Policy Term minus 8 years
Basic Sum Assured Rs. 2 Lakhs Rs. 5 Lakhs

LIC Jeevan Azad 868 Plan | Features

 LIC 868 Plan Details:- There are some main features of the LIC 868 Plan which are as follows-

  • LIC Jeevan Azad plan is a Non-Linked and Non-Participating individual savings insurance plan. Is.
  • Under this plan, customers get the option of limited premium payment, which is 8 years less than the maturity period of the policy.
  • Under LIC Jeevan Azad’s plan, if an insured person dies unexpectedly, financial assistance will be provided to the family.
  • In this policy, the surviving life assured gets a 100% maturity amount.
  • Policyholders can also take loans under this plan.
  • The rider is available in Jeevan Azad plan number 868.
  • Non-medical insurance is also given under this plan.

LIC Jeevan Azad 868 Plan | Benefits

Benefits of LIC Jeevan Azad Plan:- 

  • Death Benefit:-  Under the LIC Jeevan Azad Plan, the policyholder gets a death benefit. In which the amount which is higher than 7 times the basic sum assured and the premium amount deposited will be paid. On successful completion of the policy term, ‘Sum Assured on Maturity’ will be paid to the beneficiary. In this policy, you also get a loan facility after 2 years of the policy.
  • Surrender Benefit,:- Under this policy, you also get a Surrender Benefit, in which you can surrender your policy after 2 years. Some Rider Benefit is also available under this policy. Which includes Accidental Death and Disability Rider, Accident Benefit Rider, and Premium Survivor Benefit Rider.
  • Settlement:- Under the LIC 868 Plan, the policyholder also gets a Settlement Option. In which the policyholder can also get his maturity and death benefit in installments.
  • Tax Benefit:-  Premium paid under LIC Jeevan Azad is exempted from tax under Section 80C. Also, the maturity and death benefit amounts are tax-free under Section 10D(D) of the Income Tax Act, 1961.

Rebate In LIC 868 Plan

LIC Jeevan Azad 868 Plan Rebates:- Rebates are available on the premium of this plan, which includes all the rebates.

  1. Mode Rebate
    Quarterly, Monthly (NACH) & Salary deduction NIL
    Half-yearly mode 1% of Tabular premium
    Yearly mode 2% of Tabular Premium
    High Sum Assured Rebate
    Basic Sum Assured (BSA) Rebate (Rs.)
    Up to 2,75,000 Nil
    Up to 3,00,000 to 3,75,000 0.50% BSA
    Up to 4,00,000 to 4,75,000 1.50% BSA
    Rs. 5,00,000 2.00% BSA

Basic Sum Assured under LIC Jeevan Azad 868 Plan

If you want to get insurance up to ₹ 3,00,000 in this policy, then you will not need a medical test. In this policy, if you take insurance of the sum assured amount from ₹ 3,25,000 to ₹ 5,00,000, then you can take this insurance only through a video medical report.

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LIC Jeevan Azad 868 Plan | Documents Required

Documents Required for LIC 868 Plan:- The following standard documents are required to buy the LIC Jeevan Shiromani Policy

  • ID proof
  • date of birth proof
  • Address proof
  • latest photo
  • Bank account details if the premium payment frequency is monthly.

LIC Jeevan Azad 868 Plan | How To Apply?

How to apply for the LIC 868 Plan? :- If you want to take LIC Jeevan Azad Policy, then you can contact the LIC office / LIC agent, you have to get complete details about LIC 868 Policy, then you will have to give all your information and your documents to the LIC agent, after that he Will fill your form. In this way, you can join LIC 868 Policy. , To get more information related to the scheme, you can visit the official website of LIC.

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READ MORE: LIC Jeevan Anand Policy 15 Years

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