| Single Premium Endowment Plans
(UIN: 512N283V01) |
| LIC's Single Premium Endowment Plan is a participating
non-linked savings cum protection plan, where premium
is paid in lump sum at the outset of the policy.
This combination provides financial protection against
death during the policy term with the provision
of payment of lumpsum at the end of the selected
policy term in case of his/her survival. This plan
also takes care of liquidity needs through its loan
facility. |
| LIC’s NEW ENDOWMENT PLAN
(UIN: 512N277V01) |
| LIC's Single Premium Endowment Plan is a participating
non-linked savings cum protection plan, where premium
is paid in lump sum at the outset of the policy.
This combination provides financial protection against
death during the policy term with the provision
of payment of lumpsum at the end of the selected
policy term in case of his/her survival. This plan
also takes care of liquidity needs through its loan
facility. |
| LIC's New Endowment Plan is a participating non-linked
plan which offers an attractive combination of protection
and saving features. This combination provides financial
support for the family of the deceased policyholder
any time before maturity and good lump sum amount
at the time of maturity for the surviving policyholders.
This plan also takes care of liquidity needs through
its loan facility. |
| Benefits: |
| Death benefit:In case of death during the
policy term provided all due premiums have been
paid Death benefit, defined as sum of "Sum
Assured on Death" and vested Simple Reversionary
Bonuses and Final Additional bonus, if any, shall
be payable. Where, “Sum Assured on Death”
is defined as higher of Basic Sum Assured or 10
times of annualised premium. This death benefit
shall not be less than 105% of all the premiums
paid as on date of death. Where premiums exclude
service tax, extra premium and rider premiums, if
any. |
| Maturity Benefit: Basic Sum Assured, along
with vested simple reversionary bonuses and Final
Additional bonus, if any, shall be payable in lump
sum on Survival to the end of the policy term provided
all due premiums have been paid. |
Participation in Profits: The policy shall
participate in profits of the Corporation and shall
be entitled to receive Simple Reversionary Bonuses
declared as per the experience of the Corporation,
provided the policy is in full force.
Final (Additional) Bonus may also be declared under
the policy in the year when the policy results into
a claim either by death or maturity, provided the
policy has run for certain minimum term. |
|
Optional Benefit:
LIC’s Accidental Death and Disability Benefit
Rider: LICs Accidental Death and Disability Benefit
Rider is available as an optional rider by payment
of additional premium. In case of accidental death,
the Accident Benefit Sum Assured will be payable
as lumpsum along with the death benefit under
the basic plan. In case of accidental permanent
disability arising due to accident (within 180
days from the date of accident), an amount equal
to the Accident Benefit Sum Assured will be paid
in equal monthly installments spread over 10 years
and future premiums for Accident Benefit Sum Assured
as well as premiums for the portion of Basic Sum
Assured which is equal to Accident Benefit Sum
Assured under the policy, shall be waived.
|
| LIC's New Jeevan Anand Plan (UIN:
512N279V01) |
| LIC's New Jeevan Anand Plan is a participating
non-linked plan which offers an attractive combination
of protection and savings. This combination provides
financial protection against death throughout the
lifetime of the policyholder with the provision
of payment of lumpsum at the end of the selected
policy term in case of his/her survival. This plan
also takes care of liquidity needs through its loan
facility. |
| 1. Benefits: |
| Death benefit : Provided all due premiums
have been paid, the following death benefit shall
be paid: On Death during the policy term: Death
benefit, defined as sum of Sum Assured on Death
and vested Simple Reversionary Bonuses and Final
Additional bonus, if any, shall be payable. Where,
Sum Assured on Death is defined as higher of 125%
of Basic Sum Assured or 10 times of annualised premium.
This death benefit shall not be less than 105% of
all the premiums paid as on date of death. The premiums
mentioned above exclude service tax, extra premium
and rider premiums, if any. On death of policyholder
at any time after policy term: Basic Sum Assured |
| Benefits payable at the end of Policy Term: Basic
Sum Assured, along with vested Simple Reversionary
Bonuses and Final Additional Bonus, if any, shall
be payable in lump sum on survival to the end of
the policy term provided all due premiums have been
paid. |
| Participation in Profits : The policy shall participate
in profits of the Corporation and shall be entitled
to receive Simple Reversionary Bonuses declared
as per the experience of the Corporation during
policy term provided the policy is in full force. |
| Final (Additional) Bonus may also be declared
under the plan in the year when the policy results
into death claim during the policy term or due for
the survival benefit payment provided the policy
is in full force and has run for certain minimum
term. |
| 2. Optional Benefit: |
| LIC's Accidental Death and Disability Benefit
Rider: LIC's Accidental Death and Disability Benefit
Rider is available as an optional rider by payment
of additional premium during the policy term. In
case of accidental death during the policy term,
Accident Benefit Sum Assured will be payable as
lumpsum along with the death benefit under the basic
plan. In case of accidental permanent disability
arising due to accident (within 180 days from the
date of accident), an amount equal to the Accident
Benefit Sum Assured will be paid in equal monthly
installments spread over 10 years and future premiums
for Accident Benefit Sum Assured as well as premiums
for the portion of Basic Sum Assured which is equal
to Accident Benefit Sum Assured under the policy,
shall be waived. |
| LIC's Jeevan Rakshak Plan (UIN:
512N289V01) |
| LIC's Jeevan Rakshak Plan is a participating non-linked
plan which offers a combination of protection and
savings. This plan provides financial support for
the family in case of unfortunate death of the policyholder
any time before maturity and a lump sum amount at
the time of maturity for the surviving policyholder.
This plan also takes care of liquidity needs through
its loan facility. |
| Benefits: |
| Death benefit: In case of death of the policyholder
during the policy term provided all due premiums
have been paid, “Sum Assured on Death”
shall be payable, which is the highest of Basic
Sum Assured or 10 times of annualized premium or
105% of all the premiums paid as on date of death.
The premiums defined above exclude service tax,
extra premium and Accident Benefit rider premium,
if any. In addition to the above, Loyalty Addition,
if any shall also be payable if death occurs after
completion of 5th policy year. |
| Maturity Benefit: Basic Sum Assured, along with
Loyalty Addition, if any, shall be payable in lump
sum on Survival to the end of the policy term provided
all due premiums have been paid. Participation in
Profits: Provided the policy is in full force, then
depending upon the Corporation’s experience
the policies under this plan will be eligible for
Loyalty Addition. The Loyalty Addition, if any,
is payable at such rate and on such terms as may
be declared by the Corporation, on death after completion
of 5th policy year or on Policyholder surviving
to the maturity. |
| Optional Benefit: LIC’s Accident Benefit
Rider: Accident Benefit Rider is available as an
optional rider by payment of additional premium.
In case of accidental death, the Accident Benefit
Sum Assured will be payable as lumpsum along with
the death benefit under the basic plan |
| LIC's Limited Premium Endowment
Plan : UIN 512N293V01 |
| LIC's Limited Premium Endowment Plan is a participating
non-linked plan which offers a combination of protection
and savings. This plan provides financial support
for the family in case of unfortunate death of the
policyholder any time before maturity and a lump
sum amount at the time of maturity for the surviving
policyholder. This plan also takes care of liquidity
needs through its loan facility. |
| Benefits: Death benefit: In case of death
during the policy term, provided all due premiums
have been paid, Death benefit, defined as sum of
"Sum Assured on Death", vested Simple
Reversionary Bonuses and Final Additional bonus,
if any, shall be payable. Where, "Sum Assured
on Death" is defined as the highest of 10 times
of annualised premium or Guaranteed Sum Assured
on Maturity i.e. Basic Sum Assured or Absolute amount
assured to be paid on death i.e. 125% of Basic Sum
Assured . This death benefit shall not be less than
105% of all the premiums paid as on date of death.
Premiums referred above exclude service tax, extra
premium and rider premium(s), if any. |
| Maturity Benefit: "Sum Assured on
Maturity" equal to Basic Sum Assured, along
with vested Simple Reversionary bonuses and Final
Additional bonus, if any, shall be payable in lump
sum on survival to the end of the policy term provided
all due premiums have been paid. Participation in
Profits: The policy shall participate in profits
of the Corporation and shall be entitled to receive
Simple Reversionary Bonuses declared as per the
experience of the Corporation, provided the policy
is in full force. Final (Additional) Bonus may also
be declared under the policy in the year when the
policy results into a claim either by death or maturity. |
| Optional Benefit: The policyholder has
an option of availing the following Rider benefit(s): |
