Assuming you are asking for the maturity value of a policy with a sum assured of Rs. 1,00,000 and a policy term of 20 years, the maturity value would be Rs. 3,00,000.
The LIC Jeevan Surabhi policy is a non-linked, with-profits endowment life insurance plan. It offers financial protection in case of the policyholder's untimely death, and also provides for a lump sum payment at the end of the policy term in case the policyholder survives the policy term. The policy also has a provision for payment of monthly income during the policy term, starting from the end of the first policy year.
The policy term of LIC Jeevan Surabhi plan is 20 years. The minimum sum assured under the policy is Rs. 1 lakh, while there is no maximum limit for sum assured. The policy can be taken by people aged between 8 years and 55 years. The policy provides for annual survival benefit, starting from the end of the first policy year, equal to 1% of the sum assured. This benefit is payable monthly. On survival of the policy term, the policyholder gets back the sum assured, along with loyalty additions, if any. The policy also offers tax benefits under Section 80C and 10 (10D) of the Income Tax Act.
