Social Security

LIC – Micro Insurance – Jeevan Madhur
LIC’s “Jeevan Madhur” - a Micro Insurance Project. The target is to cover the low income group and especially those who have no fixed and stable income.

“Jeevan Madhur” is available to both male & female without any medical examination a low premium amount is collected from each beneficiary within the age group of 18 to 60 years for a life coverage or for assured amount at the end of the period. The term of policy ranges between 5 to 15 years.

Accident benefit is applicable as per terms and conditions of the policy.

• Minimum age – 18 years
• Maximum age – 60 years
• Age at the time of maturity – 65
• Minimum Assurance amount - 6000
• Maximum Assurance amount – 30000
• (Maturity benefit and claim are in proportion to the amount of premium, term of policy and age of the life assured)

Premium amount ranges from

Rs.                         -           Years
100                        -           5 to 15
120                        -           5 to 15
150                        -           5 to 15
160                        -           5 to 15
200                        -           5 to 12
250                        -           5 to 10
300                        -           5 to 08
400                        -           5 to 06
500                        -           5 years

We have 5026 policy holders. Community Organizers collect the premium from the policy holders and remit it in the office. The amount collected from the COs are deposited in Indian Over Seas Bank (A/c No.578) Tangassery and sent cheques to LIC. The entire premium amount collected are entered in the LIC’s software and sent through internet.

Lourdhamma George
Insurance in charge.