Guaranteed Amount on Maturity
On reaching the date of maturity, you would receive Sum Assured + All Guaranteed Additions accumulated till date. The Guaranteed Additions are added every year @ Rs. 50 per 1,000 Sum Assured.
25% Extra Risk Cover for the Entire Term
On death during the policy term after the date of commencement of risk “Sum Assured on Death” and Accrued Guaranteed Additions. Where “Sum Assured on Death” is defined as higher of 125% of Basic Sum Assured or 7 times of annualised premium.
Limited Premium term
If your Premium payments end within a short period, it allows longer coverage durations and Reduces the chances of lapse.
Basic Sum Assured
Premium Paying term
Policy Term minus 5 Years
Age At Entry
90 days Completed
60 Years (Age Nearer Birthday)
Age at Maturity
18 years (Completed)
75 Years (Age Nearer Birthday)
Mode Of Payment
Yearly, half Yearly, Quarterly & Monthly
Date of commencement of risk: In case the age at entry of the Life Assured is less than 8 years, the risk under this plan will commence either 2 years from the date of commencement or from the policy anniversary coinciding with or immediately following the attainment of 8 years of age, whichever is earlier. For those aged 8 years or more, risk will commence immediately.
Date of vesting: If the policy is issued on the life of a minor, the policy shall automatically vest on the Life Assured on the policy anniversary coinciding with or immediately following the completion of 18 years of age and shall on such vesting be deemed to be a contract between the Corporation and the Life Assured.
Benefits Payable under the policy:
A. Death Benefit:
Before Commencement Of Risk
Return of premiums paid excluding taxes, extra premium and rider premium(s), if any.
After Commencement of risk
Sum Assured on Death Plus Accrued Guaranteed Additions will be Payable Where “Sum Assured on Death” is defined as higher of 125% of Basic Sum Assured or 7 times of annualized premium.
Death Benefit shall not be less than 105% of the total Premiums paid (excluding any extra premium, any rider premium(s) and taxes) up to the date of death.
B. Maturity Benefit (Basic Sum Assured + Guaranteed Additions)
Guaranteed Additions @Rs 50 per thousand Basic Sum Assured will be added to the Policy at the end of each Policy.
1) Rider Benefits:
a) LIC’s Accidental Death and Disability Benefit Rider (UIN: 512B209V02)
b) LIC’s Accident Benefit Rider (UIN:512B203V03)
c) LIC’s New Term Assurance Rider (UIN: 512B210V01)
d) LIC’s New Critical Illness Benefit Rider (UIN: 512A212V02)
e) LIC’s Premium Waiver Benefit Rider (UIN: 512B204V03)
2) Settlement Option (for Maturity Benefit):
3) Option to take Death Benefit in installments:
4) Loan Availability after Payment of Premium of 2 Full years.