LIC Jeevan Azad - Vision India Insurance

LIC Jeevan Azad

Protect what matters most with LIC insurance coverage! Get peace of mind knowing you're covered in case of unexpected events.  Don't wait, secure your future today. 

LIC Jeevan Azad is a traditional life insurance plan that provides both life protection and investment benefits. Aside from that, the plan provides a slew of other advantages, such as rider benefits, tax advantages, and so on.

Choose this plan to Avail Tax Benefit on premium paid Tax saving under Sec 80C & 10(10D) Guaranteed maturity with life cover for securing family's future Sovereign guarantee as per Sec 37 of LIC Act

  • It provides both protection and savings.
  • The policy term is 20 years.
  • The premium payment term is 8 years.
  • The policyholder can receive survival benefits after specified durations during the policy term.
  • The death benefit payable is the sum assured plus bonuses. In the event of the policyholder’s untimely death, the plan will pay the Sum Assured on Death. The Sum Assured on Death is the greater of seven times the annualised premium or the Basic Sum Assured. The death benefit is equal to 105% of all premiums paid up to the time of death.
  • There is an option to receive the maturity benefit as a lump sum or in the form of annual income for a selected number of years.
  • Section 80C exempts premiums paid under LIC Jeevan Azad. In addition, the maturity and death benefit amounts are tax-free under Section 10D(D) of the Income Tax Act of 1961.
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
  • Free Look Period: The policy provides a 30-day free look period beginning on the day the policy is purchased. During this time, the policyholder can review the plan’s terms and conditions and, if dissatisfied, return the policy to the company.
  • Surrender Benefits: The policyholder may surrender the policy at any time during the policy term. The Guaranteed Surrender Value will be:
    For the first three policy years: 75% of the Single premium After the fourth policy year: 90% of the Single premium
  • Policy Loan: Policyholders may apply for a policy loan at any time during the policy term after three months from the date of purchase. The maximum loan amount will be as follows:


  1. Optional Riders
  2. LIC Accidental Death & Disability Benefit Rider
    LIC Accident Benefit Rider
    LIC Premium Waiver Benefit Rider
  3. Death Benefits in installments
  4. Mode of Installment Payment Minimum installment amount
    Monthly Rs. 5,000/-
    Quarterly Rs. 15,000/- 
    Half-Yearly Rs. 25,000/-
    Yearly Rs. 50,000/
  5. Settlement Option
  6. A policyholder can elect to receive maturity benefits in installments over a 5-year period under the policy. The installments will be paid in advance at predetermined intervals of annually, half-yearly, quarterly, or monthly, subject to a minimum installment amount for each payment mode.
  1. Grace Period
  2. Policy Revival
  3. Loan Facility
  4. Free-Look Period
  5. Policy Surrender
  6. Rebates
  7. 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

So, What you are waiting for ? Fill your details to select the Plan.

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