This is another one of the Endowment Assurance policies LIC offers to its customers,
Jeevan Kishore can be taken/ purchased by either the parent or the grandparent for a child aged less than 12 years. After the 2nd year of the policy term, the risk commences or it begins once the child completes 7 years of age
- Since it is a with profits plan, a part of the profits made by the corporation from the life insurance business shall be distributed here too.
- Premiums can be paid at convenience as per the choice opted at the beginning of the policy term.
- Once the risk has commenced, on the death of the life assured, sum assured plus the vested bonuses will be paid in lump sum. If he dies before risk has commenced, premiums paid will be refunded.