LIC Jeevan Sugam – Review

Jeevan Sugam

LIC JEEVAN SUGAM is a new product in the bunch of Single Premium plans of LIC.LIC JEEVAN SUGAM plan is launched on 25th Feb, 2013. This plan is close ended plan and available for only 45 days. The basic features of this plan are as follows:

Jeevan Sugam Features-

  • Single Premium
  • Guaranteed Maturity Sum Assured with Loyalty Additions
  • Risk coverage at low premium
  • Non-linked single premium plan
  • Income tax rebate under sec.80c

Maturity Benefit: Maturity Sum Assured along with Loyalty Additions

In case of Death of Life Assured

  • On death during first 5 years: Basic SA (i.e.10 times of Single premium) excluding extra premium.
  • On death after completion of 5 years: Basic SA (i.e. 10 times of Single premium) excluding extra premium with loyalty addition, if any.

Loan: YES. Loan facility is available under this plan on realisation of cheque. Maximum 60% of Surrender value Interest 10.5% p.a.

Surrender: YES. The policy can be surrendered for cash
First year: 70% of Single premium excluding Extra premium, if any.
Thereafter: 90% of the single premium excluding extra


  • Min age at entry : 8 years (completed)
  • Max age at entry : 45 yrs nearer birthday
  • Policy Term : 10 years.
  • Min Maturity SA : Rs. 60,000 /-
  • Max Sum assured : No limit
  • Premium Mode : Single
  • Minimum Sum Assured will be in multiples of Rs.5,000 /- only.

Benefit illustration:

Age: 30 years- Maturity sum Assured: Rs: 60,000- Deposit Premium: Rs: 34,802 (Including Service tax)

Maturity Benefit:

Maturity Sum Assured Rs: 60,000

Loyalty Addition: Rs: 7,200

Total: Rs: 67,200

Annualized Return: 6.80%

Death Benefit:

After 5 years: Rs: 3,37,590

After 5 years: Rs: 3,37,590 + loyalty addition.

Our Opinion:-

Based on official plan detail this plan seems to be alternative of tax saving fix deposit providing additional benefit of risk coverage.  As it is providing tax free return at maturity & risk coverage seems to be better option compare to tax saving FD.

If you are under insured and planning to buy tax saving FD than it is better to purchase LIC Jeevan Sugam.

Download Premium Chart of JEEVAN SUGAM PLAN

LIC Jeevan Sugam Advertisement

Jeevan Sugam

Article by Raviraj

Raviraj is the man behind He is graduate in finance, engaged in blogging since 7 years. Moneyexcel blog is ranked as one of the Top 10 Personal Finance Blog in India. He is not affiliated with any financial product, service provider, agent or broker. The purpose of this blog is to spread financial awareness and help people in achieving excellence for money. Please note that the views expressed on this Blog/Comments are clarifications meant for reference and guidance of the readers to explore further on the topics. These should not be construed as investment advice or legal opinion.

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