Tuesday, 7 August 2012


Product Summary
This is an Endowment Assurance plan where the proposer has simply to choose the amount and mode of premium payment. The plan provides financial protection against death throughout the term of the plan. The death benefit is directly related to the premiums paid. The Maturity Sum Assured depends on the age at entry of the life to be assured and is payable on survival to the end of the policy term. It also offers the flexibility of term and a lot of liquidity.

Premiums are payable yearly, half-yearly, quarterly, or monthly through salary deductions as opted by you throughout the term of the policy or till earlier death.

Loyalty Additions
This is a with-profits plan and participates in the profits of the Corporation’s life insurance business.  It gets a share of the profits in the form of loyalty additions which are terminal bonuses payable along with death benefit or maturity benefit.  Loyalty Additions may be payable from the 10th year onwards depending upon the experience of the Corporation.

Plan parameters
Age at entry: Min.12 yrs (completed) Max. 60 yrs (NBD)
Maturity age: Min.70 yrs
Term: Min.10 yrs Max. 35 yrs
Min. premium
Age 12 to 49:Rs.250 P.M
Age 15 to 60: Rs.400 P.M
Max. Premium: No. Limits
Premium in Multiples: Rs.50 p.m.
Mode of payment: YLY/ HLY/ OLY/ SSS
Accident benefit: Re. 1extra per
(max. 50 Lac inclusive all plan)
Policy loan: yes
Surrender of policy: yes

Underwriting condition
Form no: 300/340
Age proof: Std/ NSAP-1
Female lives category: I/II/III
Non-medical (Gen): Allowed
Non-medical (Prof): Allowed
Non-medical (special): Allowed
Actual sum assured: Basic SA
Risk coverage: Death benefit S.A. + return of premium paid + LA (if any)

 Death Benefit
250 times the monthly premium together with loyalty additions, if any, and  return of premiums excluding first year premiums and extra/rider premium, if any, is payable in lump sum on death of the life assured during the term of the policy.

Maturity Benefit
The Maturity Sum Assured plus Loyalty additions, if any, is payable in a lump sum.

Supplementary/Extra Benefits
These are the optional benefits that can be added to your basic plan for extra protection/option.  An additional premium is required to be paid for these benefits.

Surrender Value
Buying a life insurance contract is a long-term commitment. However, surrender values are available on earlier termination of the contract. The surrender value will be the greater of the guaranteed surrender value and special surrender. The plan also allows for partial surrenders.

Guaranteed Surrender Value
The policy can be surrendered after it has been in force for at least 3 full years. The Guaranteed Surrender value will be equal to 30% of the total amount of premiums paid excluding the premiums for the first year and all the extra premiums and premiums for accident benefit / term rider.

Special Surrender Value
80% of Maturity Sum Assured if 3 or more years’ but less than 4 years’ premiums have been paid; 90% of the Maturity Sum Assured, if 4 or more years’ but less than 5 years’ premiums have been paid and 100% of the Maturity Sum Assured, if 5 or more years’ premiums have been paid. The Maturity Sum Assured for this para will be the Maturity Sum Assured corresponding to the term for which premiums have been paid under the policy.

Get 10 Lac in 16 Years for any Future requirement by paying just Rs 2042/month. 

Get 15 Lac in 16 years for any Future requirement by paying just Rs 3063/month.

  • Partial or Full withdrawal available after 10 years.
  • Tax exempt Maturity under section 10(10D).
  • On death 250 times Monthly premium + Total Premiums paid - Ist year premium + Loyalty Additions* is payable.
  • One can deposit Yearly, HLY, QLY or MLY (ECS).
  • Premiums deposited are exempted under section 80C.
  • Double Accidental Benefit available
  • Golden Peacock Award Winner Plan

Email:-     lic01621@gmail.com
Mobile:-  +91-9990286759  
Website-  https://www.licindia.in/

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