Endowment Plans

Money Back Plans

Pension Plans

Jeevan Akshay VI (189)

New Jeevan Anand Plan (815)

New Endowment Plan (814)

Jeevan Labh Plan (836)

Children Plans

Jeevan Tarun Plan (834)

Limited Premium Endowment Plans

Limited Premium Endowment Plan (830)

Jeevan Pragati Plan (838)

Term Plans

Amulya Jeevan II Plan (823)

Unit Linked Insurance Plans (ULIP)

New Endowment Plus (835)

Plan: New Endowment (814)

  • Product Summary:
    LIC New Endowment Plan (814) is a regular premium, non-linked, with profits Endowment Plan.

  • Premium Payment Mode: Yearly, Halfly, Quarterly, Monthly (ECS)

  • Term: 12 to 35 years

  • Minimum Entry Age: 8 Year Completed

  • Maximum Entry Age: 55 Year (Nearest Birthday)

  • Maximum Maturity Age: 75 Year

  • Minimum Sum Assured: 1, 00,000

  • Maximum Sum Assured: NO LIMIT (Depending upon Income)

  • Maximum Accidental Death and Disability Benefit Rider up to age 70.

  • Policy Benefits:

  • On Death:

  • Sum Assured + Vested Bonus + FAB if any. OR
    10 times of Annualized Premium, OR 
    105%of all Premiums paid as on death, WHICHEVER IS HIGHER.

  • On Survival:

  • On survival Basic Sum Assured + Vested Bonus + FAB if any.

  • Surrendered Value: The Policy can be surrendered at any time during the policy term provided at least 3 full years premiums have been paid.

  • Loan:  Loan Facility is available under this plan, after payment of premiums for at least 3 full years.

  • Income Tax Benefit:

  • Premium paid under this plan is eligible for TAX rebate under section 80c.
    Maturity under this plan is free under sec 10(10D).

  • Proposal Form:

  • 300/340/360 shall be used under this plan.

Plan: New Jeevan Anand (815)
  • Product Summary:
    LIC New Jeevan Anand (815) 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 lump sum at the end of the selected policy term in case of his or her survival.

  • Premium Payment Mode: Yearly, Halfyrly Quarterly, Monthly (ECS)

  • Term: 15 to 35 years

  • Minimum Entry Age: 18 Year Completed

  • Maximum Entry Age: 50 Year (Nearest Birthday)

  • Maximum Maturity Age: 75 Year

  • Minimum Sum Assured: 1, 00,000

  • Maximum Sum Assured: NO LIMIT (Depending upon Income)

  • Maximum Accidental Death and Disability Benefit Rider up to age 70.

  • Policy Benefits: On Death :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

  • On Survival :
    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.

  • Surrendered Value:
    The policy can be surrendered for cash provided at least three full years premiums have been paid. The Guaranteed Surrender value during policy term shall be a percentage of total premiums paid (net of service tax) excluding extra premiums and premiums for riders, if opted for. This percentage will depend on the policy term and policy year in which the policy is surrendered

  • Loan:
    Loan can be availed under the policy provided the policy has acquired a surrender value and subject to the terms and conditions as the company may specify from time to time.

  • Income Tax Benefit:
    • Premium paid under this plan is eligible for TAX rebate under section 80c.
    • Maturity under this plan is free under sec 10(10D).

  • Proposal Form: 300 shall be used under this plan.
     

Plan: Single Premium Endowment (817)

  • Product Summary:
    LIC Single Premium Endowment Plan (817) is a single premium, non-linked, with profits Endowment Plan.

  • Premium Payment Mode:

  • Single Premium

  • Term:

  • 10 to 25 Years

  • Minimum Entry Age: 90days Completed

  • Maximum Entry Age: 65 Year (Nearest Birthday)

  • Maximum Maturity Age: 75 Year

  • Minimum Sum Assured: 50,000

  • Maximum Sum Assured: NO LIMIT (Depending upon Income)

  • Policy Benefits:

  • On Death:
    On Death after commencement of risk: Sum Assured + Vested Bonus + FAB if any 
    On Death before commencement of risk: Return of Single Premium excluding taxes and Extra Premium.

  • On Survival:
    On survival Sum Assured + Vested Bonus + FAB if any.

  • Surrendered Value:
    The Policy can be surrendered at any time during the policy term subject to realization of the premium cheque.

  • Loan: Loan Facility is available under this plan, after completion of one policy year.

  • Income Tax Benefit: • u/s 80C up to 10% of SA.

  • Proposal Form: 300/340 shall be used under this plan

New Bima Bachat 816
  • This is an Insurance + Investment + Money Back plan

  • It is a single premium payment plan

  • Tax exemption on premium paid up to 10% of SA if premium is greater that 1.5 Lakhs

  • 15% of the Sum Assured is paid after every 3 years as Survival Benefit

  • There are choices of 3 policy tenures - 9 years, 12 years and 15 years

  • For a Policy Term of 9 years, 15% of Sum Assured is payable at the end of 3 and 6 year

  • For a Policy Term of 12 years, 15% of Sum Assured is payable at the end of 3, 6 and 9 years

  • For a Policy Term of 15 years, 15% of Sum Assured is payable at the end of 3, 6, 9 and 12 years

  • Participatory plan - You get part of profits LIC makes as a bonus

  • Bonus on policy declared every year

  • Loan is available after 3 years of premium payment

  • Policy can be surrendered after 3 years of premium payment

  • AGE:- 15-66 for  9  year policy term

                  15-63 for 12  year policy term

                  15-60 for 15 year policy term

The Survival Benefits can be used to pay for child’s education, daily expenses or even the future premiums of the same policy

Plan: Jeevan Rakshak (827)
  • Product Summary:
    This is a regular premium paying Non-linked, With-Profits, Endowment Assurance plan. This plan shall be available to standard lives only without any medical examination and the total Sum Assured under all the policies issued to an Individual under this plan shall not exceed Rs. 2 lacs.

  • Premium Payment Mode:
    Yearly, Halfly, Quarterly, Monthly (ECS)

  • Term: 10 to 20 Years

  • Minimum Entry Age: 8 Year Completed

  • Maximum Entry Age: 55 Year (Nearest Birthday)

  • Maximum Maturity Age: 70 Year

  • Minimum Sum Assured: 75,000

  • Maximum Sum Assured: 2, 00,000

  • Maximum Accidental Death and Disability Benefit Rider up to age 70.

  • Policy Benefits:

  • On Death : On death of the Life Assured during the policy term " 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 premium mentioned above excludes taxes, extra premium and rider premiums, if any. In addition to the above, Loyalty Addition, if any, shall also be payable if death occurs after completion of 5th policy year.

  • On Survival :

  • On survival to the end of the policy term Basic Sum Assured along with Loyalty Addition, if any, shall be payable.

  • Surrendered Value:
    The policy can be surrendered at any time during the policy term provided at least three full years premiums have been paid. Guaranteed Surrender Value:
    The Guaranteed Surrender Value shall be a percentage of total premiums paid (net of taxes) excluding any extra premiums and premiums for riders, if opted for. This percentage will depend on the policy term and policy year in which the policy is surrendered

  • Loan: Loan facility is available under this plan, after payment of premiums for at least 3 full years subject to following conditions:
    a. The maximum loan as a percentage of surrender value shall be 70percent in case of inforce policies and 60percent in case of paid-up policies.
    b. The rate of interest to be charged for the loan amount would be determined from time to time by the Corporation.

  • Income Tax Benefit:

  • Premium paid under this plan is eligible for TAX rebate under section 80c.
    • Maturity under this plan is free under sec 10(10D).

     

Plan: Limited Premium Endowment (830)
  • Product Summary:
    LIC Limited Premium Endowment Plan (830) is a limited premium paying conventional With-Profits Endowment Assurance Plan.

  • Premium Payment Mode:
    Yearly, Halfly, Quarterly, Monthly (ECS)

  • Term: 12 Year,16 Year, 21 Year 

  • P.P.T. 8 Year,9 Year

  • Minimum Entry Age: 18 Year Completed

  • Maximum Entry Age: 62 Year (Nearest Birthday)

  • Maximum Maturity Age: 75 Year

  • Minimum Sum Assured: 3, 00,000

  • Maximum Sum Assured: NO LIMIT (Depending upon Income)

  • Maximum Accidental Death and Disability Benefit Rider up to age 70.

  • Policy Benefits:

  • On Death:
    125%of Basic Sum-Assured, OR
    10 times of Annualized Premium, OR 
    105%of all Premiums paid as on death,
    WHICHEVER IS HIGHER.

  • On Survival:
    On survival Basic Sum-Assured + Reversionary Bonus+ Final Additional Bonus.

  • Surrendered Value:
    The Policy can be surrendered at any time during the policy term provided at least two full years premiums have been paid.

  • Loan:
    Loan Facility is available under this plan, after payment of premiums for at least 2 full years.

  • Income Tax Benefit:
    • Premium paid under this plan is eligible for TAX rebate under section 80c.
    • Maturity under this plan is free under sec 10(10D).

     

Plan: Jeevan Lakshya (833)
  • Product Summary:
    This is a limited premium paying term conventional With-Profits Endowment Assurance plan where premium paying term is less than policy term by three years.

  • Premium Payment Mode: Yearly, Halfly, Quarterly, Monthly (ECS)

  • Term: 13 to 25 Years

  • P.P.T. (Policy Term - 3) Years

  • Minimum Entry Age: 18Years Completed

  • Maximum Entry Age: 50Years (Nearest Birthday)

  • Maximum Maturity Age: 65 Year (Nearest Birthday)

  • Minimum Sum Assured: 1, 00,000

  • Maximum Sum Assured: NO LIMIT (Depending upon Income)

  • Maximum Accidental Death and Disability Benefit Rider up to age 65.

  • Policy Benefits:

  • On Death:

  • Benefits payable on death:
    Sum Assured on Death + Bonuses & Final Additional Bonus, if any, shall be payable in following manner.

  • Annual Income Benefit equal to 10% of the Basic Sum Assured (till policy anniversary prior to date of maturity)

  • Assured Absolute Amount of 110% of Basic Sum Assured, payable (on due date of maturity)

  • Along with Bonuses & Final Additional Bonus, if any, on maturity. (On due date of maturity)

  • On Survival:
    On survival Basic Sum Assured + Vested Bonus + FAB if any.

  • Surrendered Value:
    The Policy can be surrendered at any time during the policy term provided at least 3 full years premiums have been paid.

  • Loan:
    Available after payment of premium of 3 full years.

  • Income Tax Benefit:
    • Premium paid under this plan is eligible for TAX rebate under section 80c.
    • Maturity under this plan is free under sec 10(10D).

     

Plan: New Endowment Plus (835)
  • Product Summary:
    New Endowment Plus is a unit linked assurance plan, which offers investment-cum-insurance during the term of the policy. The Policyholder can choose the amount of premium he/she desires to pay, depending on which Policyholder will get the equivalent level of cover. Each premium paid by the Policyholder shall be subject to Premium Allocation charge as per rule. The allocated premium will be utilized to purchase units as per the selected fund type. The Policyholders Fund Value will be subject to deduction of charges as per rule. Units will be allotted and cancelled based on the Net Asset Value (NAV) of the respective fund applicable to the date of allotment / cancellation. The NAV will be computed on daily basis and will be based on the investment performance and Fund Management Charges (FMC) of each fund type.

  • Investment Fund Type:
    Bond, Secured, Balanced, and Growth Fund

  • Bond Fund:
    Investment in Government: Not less than 60%
    Short-term Investment: Not more than 40%
    Investment in listed equity shares: NIL
    Fund for risk/return: Low risk
    SFIN No.: ULIF001201114LICNED+BND512

  • Secured Fund:
    Investment in Government: Not less than 45%
    Short-term Investment: Not more than 40%
    Investment in listed equity shares: Not less than 15% & Not more than 55%
    Fund for risk/return: Steady Income - Low to Medium risk
    SFIN No.: ULIF002201114LICNED+SEC512

  • Balanced Fund:
    Investment in Government: Not less than 30%
    Short-term Investment: Not more than 40%
    Investment in listed equity shares: Not less than 30% & Not more than 70%
    Fund for risk/return: Balanced Income and Growth - Medium risk
    SFIN No.: ULIF003201114LICNED+BAL512

  • Growth Fund:
    Investment in Government: Not less than 20%
    Short-term Investment: Not more than 40%
    Investment in listed equity shares: Not less than 40% & Not more than 80%
    Fund for risk/return: Long term Capital growth - High risk
    SFIN No.: ULIF004201114LICNED+GRW512

  • Basic Sum Assured is (10 * Annualized Premium) or (105% of total premiums paid), whichever is higher.

  • Risk Cover:
    If age at entry is less than 8 years the risk will commence one day before the completion of 2 years from DOC or at policy anniversary following completion of 8 years of age, whichever is earlier?
    In case the age as entry is 8 years or more, Risk will commence immediately.

  • Premium Payment Mode: Yearly, Halfly, Quarterly, and Monthly

  • Term: 10 to 20 Years

  • P.P.T. Same as Policy Term

  • Minimum Entry Age: 90Days

  • Maximum Entry Age: 50Years NBD

  • Minimum Maturity Age: 18Years Completed

  • Maximum Maturity Age: 60 Years NBD.

  • Minimum Sum Assured:
    YLY: 20,000
    HLY: 13,000
    QLY: 8000
    ECS: 3000

  • Maximum Sum Assured: No Limit

  • Accidental Benefit Rider Available.

  • Policy Benefits:

       On Death:
       On death before the Date of Commencement of Risk:
       An amount equal to the Policyholders Fund Value shall be            payable.

       On death after the Date of Commencement of Risk:
       An amount equal to the higher of Basic Sum Assured or               Policyholders Fund Value shall be payable. Where, Basic Sum       Assured is (10 * Annualized Premium) or (105% of the total            premiums paid), whichever is higher.

  • On Survival:

Fund Value at the time of maturity.

  • Surrendered Value:
    Policy can be surrender after 5 years.

  • Partial Withdrawals after 5 years. Life Assured must be major.

  • Loan: Not available.

  • Income Tax Benefit:
    80C Rebate up to Rs 1, 50,000 & Maturity & Death Claim Amount 100%Tax Free

     

Plan: Jeevan Labh (836)
  • Product Summary:
    Jeevan Labh Plan (836) is a limited premium paying, non-linked, with-profits Endowment Assurance plan.

  • Premium Payment Mode: Yearly, Halfly, Quarterly, Monthly (ECS)

  • Term: 16 Year,21 Year ,25 Year 

  • P.P.T.
    For Term 16 Year Ppt 10 year
    For Term 21 Year Ppt 15 Year
    For Term 25 Year ppt 16 year

  • Minimum Entry Age: 8 Year Completed

  • Maximum Entry Age: 59 Year (Nearest Birthday)

  • Maximum Maturity Age: 75 Year

  • Minimum Sum Assured: 2, 00,000

  • Maximum Sum Assured: NO LIMIT (Depending upon Income)

  • Maximum Accidental Death and Disability Benefit Rider up to age 70.

  • Policy Benefits:

On Death:
Basic Sum-Assured, OR
10 times of Annualized Premium, OR 
105%of all Premiums paid as on death,
WHICHEVER IS HIGHER.

On Survival:
On survival Basic Sum-Assured + Reversionary Bonus+ Final Additional Bonus.

  • Surrendered Value:
    The Policy can be surrendered at any time during the policy term provided at least three full years premiums have been paid.

  • Loan:
    Loan Facility is available under this plan, after payment of premiums for at least 3 full years.

  • Income Tax Benefit:
    • Premium paid under this plan is eligible for TAX rebate under section 80c.
    • Maturity under this plan is free under sec 10(10D).

     

Plan: Jeevan Pragati (838)
  • Product Summary:
    Jeevan Pragati (838) is a non-linked, with profits Endowment Assurance Plan wherein the risks cover automatically increases after every five years during the term of the policy.

  • Premium Payment Mode: Yearly, Halfly, Quarterly, Monthly (ECS)

  • Term: 12 to 20 years

  • Minimum Entry Age: 12 Year Completed

  • Maximum Entry Age: 45 Year (Nearest Birthday)

  • Maximum Maturity Age: 65 Year

  • Minimum Sum Assured: 1, 50,000

  • Maximum Sum Assured: NO LIMIT (Depending upon Income)

  • Maximum Accidental Death and Disability Benefit Rider up to age 65.

  • Policy Benefits:

On Death:
Sum Assured + Vested Bonus + FAB if any.

Where 'S.A. on Death' is defined as the higher of
i. 10 times of Annualized Premium, OR
ii. Absolute amount assured to be paid on death, which is as under:
During first five policy years: 100% of the Basic S.A.
During 6th to 10th policy years: 125% of the Basic S.A.
During 11th to 15th policy years: 150% of the Basic S.A.
During 16th to 20th policy years: 200% of the Basic S.A.

This Death Benefit shall not be less than 105% of all Premiums paid as on death

On Survival:
On survival Basic Sum Assured + Vested Bonus + FAB if any.

  • Surrendered Value:
    The Policy can be surrendered at any time during the policy term provided at least 3 full years premiums have been paid.

  • Loan:

Loan Facility is available under this plan, after payment of premiums for at least 3 full years.

  • Income Tax Benefit:
    • Premium paid under this plan is eligible for TAX rebate under section 80c.
    • Maturity under this plan is free under sec 10(10D).

  • Proposal Form: 300/340/360 shall be used under this plan.
     

Plan: Money Back 20Year (820)
  • Product Summary:
    This is a limited premium payment, non-linked, with profits Money Back Plan.

  • Premium Payment Mode: Yearly, Halfly, Quarterly, Monthly (ECS)

  • Term: 20 Year

  • P.P.T. 15 Year

  • Minimum Entry Age: 13yr Completed

  • Maximum Entry Age: 50yr (Nearest Birthday)

  • Maximum Maturity Age: 70 Year

  • Minimum Sum Assured: 1, 00,000

  • Maximum Sum Assured: NO LIMIT (Depending upon Income)

  • Maximum Accidental Death and Disability Benefit Rider up to age 70.

  • Policy Benefits:

On Death:
Sum Assured on Death + Vested Bonus + FAB if any.
Sum Assured on Death = Higher of 125% of Basic SA or 10 times of annualized Premium.
Death Benefit shall not be less than 105% of total premiums paid as on date of death. 
The premiums exclude taxes, extra premium and rider premiums.

On Survival:
20% of Basic SA is payable after 5th, 10th and 15th year of policy.
Maturity Time 40% of Basic Sum Assured + Vested Bonus + FAB if any.

  • Surrendered Value:
    The policy can be surrendered for cash provided at least three full years premiums have been paid. The Guaranteed Surrender value during policy term shall be a percentage of total premiums paid (net of service tax) excluding extra premiums and premiums for riders, if opted for. This percentage will depend on the policy term and policy year in which the policy is surrendered

  • Loan:

Available after payment of premium of 3 full years.

  • Income Tax Benefit:
    • Premium paid under this plan is eligible for TAX rebate under section 80c.
    • Maturity under this plan is free under sec 10(10D).

     

Plan: Money Back 25Year (821)
  • Product Summary:
    This is a limited premium payment, non-linked, with profits Money Back Plan.

  • Premium Payment Mode: Yearly, Halfly, Quarterly, Monthly (ECS)

  • Term: 25 Year

  • P.P.T. 20 Year

  • Minimum Entry Age: 13yr Completed

  • Maximum Entry Age: 45 Year (Nearest Birthday)

  • Maximum Maturity Age: 70 Year

  • Minimum Sum Assured: 1, 00,000

  • Maximum Sum Assured: NO LIMIT (Depending upon Income)

  • Maximum Accidental Death and Disability Benefit Rider up to age 70.

  • Policy Benefits:

On Death:
Sum Assured on Death + Vested Bonus + FAB if any.
Sum Assured on Death = Higher of 125% of Basic SA or 10 times of annualized Premium.
Death Benefit shall not be less than 105% of total premiums paid as on date of death. 
The premiums exclude taxes, extra premium and rider premiums.

On Survival:
15% of Basic SA is payable after 5th, 10th, 15th & 20th year of policy.
Maturity Time 40% of Basic Sum Assured + Vested Bonus + FAB if any.

  • Surrendered Value:
    The policy can be surrendered for cash provided at least three full years premiums have been paid. The Guaranteed Surrender value during policy term shall be a percentage of total premiums paid (net of service tax) excluding extra premiums and premiums for riders, if opted for. This percentage will depend on the policy term and policy year in which the policy is surrendered

  • Loan:
    Available after payment of premium of 3 full years.

  • Income Tax Benefit:
    • Premium paid under this plan is eligible for TAX rebate under section 80c.
    • Maturity under this plan is free under sec 10(10D).

     

Plan: New Children’s Money Back (832)
  • Product Summary:
    New Children’s Money Back Plan is a non-linked, with-profit, regular premium payment money back plan

  • Premium Payment Mode: Yearly, Halfly, Quarterly, Monthly (ECS)

  • Term: 25 Ages at Maturity Time

  • Minimum Entry Age: 0 Year Last Birthday

  • Maximum Entry Age: 12 Year Last Birthday

  • Minimum Sum Assured: 1, 00,000

  • Maximum Sum Assured: NO LIMIT (Depending upon Income)

  • Policy Benefits:

On Death :
On death Before the Date of Commencement of Risk:
An amount equal to the total amount of premium's paid excluding taxes, extra premium and rider premium, if any shall be payable.

On death After the Date of Commencement of Risk:
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 10 times of annualized premium or Absolute amount assured to be paid on death i.e. Basic Sum assured. This death benefit shall not be less than 105% of the total premiums paid as on date of death.

On Survival:
If Policy in full force:
Completion Age 18YRS - 20% OF MSA
Completion Age 20YRS - 20% OF MSA
Completion Age 22YRS - 20% OF MSA

On Maturity at Age 25YRS - 40% of MSA + Vested Bonus + FAB

  • Surrendered Value:
    The policy can be surrendered at any time during the policy term provided premiums have been paid for full three years.

  • Loan:
    Loan facility is available under this plan after the payment of premiums for at least three full years.

  • Income Tax Benefit:
    • Premium paid under this plan is eligible for TAX rebate under section 80c.
    • Maturity under this plan is free under sec 10(10D).

     

Plan: Jeevan Tarun (834)
  • Product Summary:
    Jeevan Tarun Plan is non-linked, with-profits, Limited premium payment plan specially designed to meet the educational and other needs of growing children.

  • Premium Payment Mode: Yearly, Halfly, Quarterly, Monthly (ECS)

  • Term: 25 Age at Maturity Time
    [25-Age at entry] Years

  • P.P.T. [20-Age at entry] Years

  • Minimum Entry Age: 0 Year Last Birthday

  • Maximum Entry Age: 12 Year Last Birthday

  • Minimum Sum Assured: 75,000

  • Maximum Sum Assured: NO LIMIT (Depending upon Income)

  • Policy Benefits:

On Death :
On death Before the Date of Commencement of Risk:
An amount equal to the total amount of premium's paid excluding taxes, extra premium and rider premium, if any shall be payable.

On death After the Date of Commencement of Risk:
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 10 times of annualized premium or Absolute amount assured to be paid on death i.e. 125% of Sum Assured
This death benefit shall not be less than 105% of the total premiums paid as on date of death.

On Survival:
Option is chosen at proposal stage.

Option-1: No Survival, Maturity Benefit 100% S.A.

Option-2: 5% S.A. every year for 5 Years from age 20 to 24, Maturity Benefit 75% S.A.

Option-3: 10% S.A. every year for 5 Years from age 20 to 24, Maturity Benefit 50% S.A.

Option-4: 15% S.A. every year for 5 Years from age 20 to 24, Maturity Benefit 25% S.A.

  • Surrendered Value:
    The policy can be surrendered at any time during the policy term provided premiums have been paid for full three years.

  • Loan:
    Loan facility is available under this plan after the payment of premiums for at least three full years.

  • Income Tax Benefit:
    • Premium paid under this plan is eligible for TAX rebate under section 80c.
    • Maturity under this plan is free under sec 10(10D).

     

Plan: Single Premium Endowment (817)
  • Product Summary:
    LIC Single Premium Endowment Plan (817) is a single premium, non-linked, with profits Endowment Plan.

  • Premium Payment Mode: Single Premium

  • Term: 10 to 25 Years

  • Minimum Entry Age: 90days Completed

  • Maximum Entry Age: 65 Year (Nearest Birthday)

  • Maximum Maturity Age: 75 Year

  • Minimum Sum Assured: 50,000

  • Maximum Sum Assured: NO LIMIT (Depending upon Income)

  • Policy Benefits:

On Death:
On Death after commencement of risk: Sum Assured + Vested Bonus + FAB if any 
On Death before commencement of risk: Return of Single Premium excluding taxes and Extra Premium.

On Survival:
On survival Sum Assured + Vested Bonus + FAB if any.

  • Surrendered Value:
    The Policy can be surrendered at any time during the policy term subject to realization of the premium cheque.

  • Loan:
    Loan Facility is available under this plan, after completion of one policy year.

  • Income Tax Benefit:
    • u/s 80C up to 10% of SA.

  • Proposal Form: 300/340 shall be used under this plan.
     

Plan: Bima Diamond (841)
  • Product Summary:
    Bima Diamond Plan (841) is a non-linked, with-profits, limited premium payment money back type plan which offers a combination of protection and saving.

  • Premium Payment Mode: Yearly, Halfly, Quarterly, Monthly (ECS)

  • Term: 16 Year,20 Year ,24 Year 

  • P.P.T.
    For Term 16 Year Ppt 10 year
    For Term 20 Year Ppt 12 Year
    For Term 24 Year ppt 15 year

  • Minimum Entry Age:14 Year Completed

  • Maximum Entry Age:

  • For Term 16Year - 50 Year (Nearest Birthday)
    For Term 20 Year - 45 Year (Nearest Birthday)
    For Term 24 Year - 41 Year (Nearest Birthday)

  • Maximum Maturity Age:
    For Term 16Year - 66 Year
    for Term 20 & 24 Year - 65 Year

  • Minimum Sum Assured: 1, 00,000

  • Maximum Sum Assured: 5, 00,000

  • Extended Cover after Completion of Policy term. Extended Cover Period equal to half of the policy term.

  • Policy Benefits:

On Death:
On death during first five policy years:
  Sum-Assured on death

On death after five policy years:
Sum-Assured on death + Loyalty addition if any.

Where Sum-Assured on death is Basic Sum-Assured, OR
10 times of Annualized Premium, OR 
105%of all Premiums paid as on death,
WHICHEVER IS HIGHER?

On Survival:
For Term 16:
15% of Basic SA is payable after 4th, 8th and 12th year of policy.
Maturity Time 55% of Basic Sum Assured + Loyalty addition if any.

For Term 20:
15% of Basic SA is payable after 4th, 8th, 12th and 16th year of policy.
Maturity Time 40% of Basic Sum Assured + Loyalty addition if any.

For Term 24:
12% of Basic SA is payable after 4th, 8th, 12th, 16th and 20th year of policy.
Maturity Time 40% of Basic Sum Assured + Loyalty addition if any.

  • Surrendered Value:
    The Policy can be surrendered at any time during the policy term provided at least three full years premiums have been paid.

  • Loan:
    Loan Facility is available under this plan, after payment of premiums for at least 3 full years.

  • Income Tax Benefit:
    • Premium paid under this plan is eligible for TAX rebate under section 80c.
    • Maturity under this plan is free under sec 10(10D).

  • Proposal Form: 300/340/360 shall be used under this plan.