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 INDEX Updated up to 27.07.2023
Sr Date of
No. Launch Plan Name Plan No. PAR/NON-PAR Page No.
1 01.02.2020 LIC' New Endowment Plan 914 PAR 6-7
2 01.02.2020 LIC's New Jeevan Anand 915 PAR 8-9
3 01.02.2020 LIC's New Bima Bachat SP 916 PAR,LA 10-11
4 01.02.2020 LIC's Single Premium Endowment Plan SP 917 PAR 12-13
5 01.02.2020 LIC's New Money Back -20 years 920 PAR 14-15
6 01.02.2020 LIC's New Money Back -25 years 921 PAR 16-17
7 01.02.2020 LIC's New Children's Money Back Plan 932 PAR 18-19
8 01.02.2020 LIC's Jeevan Lakshya 933 PAR 20-21
9 01.02.2020 LIC's Jeevan Tarun 934 PAR 22-23
10 01.02.2020 LIC's New Jeevan Labh Plan 936 PAR 24-25
11 01.02.2020 LIC's Aadhaar Stambh 943 PAR,LA 26-27
12 01.02.2020 LIC's Aadhaar Shila 944 PAR,LA 28-29
13 01.02.2020 LIC's Jeevan Umang 945 PAR 30-31
14 01.02.2020 LIC's Jeevan Shiromani 947 PAR,GA,LA 32-33
15 01.02.2020 LIC's Bima Shree 948 PAR,GA,LA 34-35
16 01.02.2020 LIC's Micro Bachat 951 PAR,LA 36-37
17 23.11.2022 LIC's New Tech-Term 954 NON-PAR 38
18 23.11.2022 LIC's New Jeevan Amar 955 NON-PAR 39
19 01.02.2020 LIC's New Endowment Plus Plan 935 NON-PAR 40-41
20 02.03.2020 LIC's Nivesh Plus SP 849 NON-PAR 42-43
21 02.03.2020 LIC's SIIP 852 NON-PAR 44-45
22 28.02.2020 LIC's Bhagya Lakshmi 939 NON-PAR 46
23 01.02.2020 LIC's New Jeevan Mangal SP&NSP 940 NON-PAR 47
24 25.08.2020 LIC's Jeevan Akshya-VII SP 857 NON-PAR 48
25 26.04.2023 LIC's Cancer Cover 905 NON-PAR 49
26 21.10.2020 LIC's New Jeevan Shanti SP 858 NON-PAR 50-51
27 22.02.2021 LIC's Bima Jyoti 860 NON-PAR,GA 52-53
28 16.04.2021 LIC's Saral Jeevan Bima SP 859 NON-PAR 54
29 01.07.2021 LIC's Saral Pension SP 862 NON-PAR 55
30 19.07.2021 LIC's Arogya Rakshak 906 NON-PAR 56
31 13.12.2021 LIC's Dhan Rekha SP&NSP 863 NON-PAR,GA 57-58
32 14.06.2022 LIC's Dhan Sanchaya SP&NSP 865 NON-PAR,GIB 59-60
33 05.09.2022 LIC's New Pension Plus SP&NSP 867 NON-PAR 61-62
34 19.01.2023 LIC’s Jeevan Azad 868 NON-PAR 63-64
35 23.06.2023 LIC’s Dhan Vriddhi SP 869 NON-PAR 65-66
36 27.07.2023 LIC’s Jeevan Kiran SP&NSP 870 NON-PAR 67-68
37 Brief Notes on Riders 69-71
38 Brief Note on Settlement option of Maturity or Death 72
39 Benefits to Agents by Selling Single Premium Policy 73
40 GST Rates 74
41 ULIPs are better than Conventional Plan 75
42 Why LIC is better than Mutual Fund 76
43 Agents Commission chart of All Plans 77-79
44 Bonus Rates for 2022-23 : New Plans 80
45 Data sheet for competing case under ANANDA App. 81
46 How to update the Address and Mobile Number in Aadhaar database 82
47 NACH and e-NACH 83-85
Note: * Bima Ratna (Plan No. 864) is not included above as it is sold by Banks only.

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 LIC’s NEW ENDOWMENT PLAN (UIN: 512N277V02) (Plan No.914)

LIC's New Endowment Plan is a Non-Linked, Participating, Individual, Life Assurance plan which offers
an attractive combination of Risk cover and saving features.

Eligibility Conditions:

a) Minimum Age at entry: 8 years (completed)

b) Maximum Age at entry: 55 years (nearer birthday)
c) Minimum Maturity Age: 20 Years
d) Maximum Maturity Age: 75 years (nearer birthday)
e) Minimum Basic Sum Assured: Rs. 100,000
f) Maximum Basic Sum Assured: No Limit (The Basic Sum Assured shall be in multiples of Rs.
5000/-)
g) Minimum Policy Term: 12 years
h) Maximum Policy Term: 35 years
i) Premium Paying Mode: Yearly, Half-yearly, Quarterly , Monthly NACH only, SSS

Benefits to Agents:

Benefits to Policyholders:
A.Risk Cover:

 Sum Assured on Death along with vested Simple Reversionary Bonuses and Final
Additional bonus, if any.
 Sum Assured on Death is higher of Basic Sum Assured or 7 times of annualized premium.
This death benefit shall not be less than 105% of total premiums paid.

B. Maturity Benefit:

 Sum Assured on Maturity along with vested Simple Reversionary Bonuses and Final Additional
Bonus, if any, shall be payable.
 Settlement Option for Maturity Benefit: An option to receive Maturity Benefit in instalments
over the chosen period of 5 or 10 or 15 years instead of lumpsum amount under an in-force as
well as paid-up policy.

C. Policy Loan: Loan can be availed under the policy provided at least two full years’ premiums have
been paid and subject to the terms and conditions as the Corporation may specify from time to time.
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D. Surrender: The policy can be surrendered at any time provided two full years’ premiums have been
paid.

E. Riders: Life assurance saving and provision to have 5 different riders.

1. ADDB rider (Accident Death and Disability benefit rider)
2. Accident Benefit Rider
3. Premium Waiver Benefit Rider
4. Term Assurance Rider
5. Critical illness Benefit Rider

USP:

1. Excellent plan for creating Tax Free cash asset for self and family.
2. Retire and Enjoy: If smaller Sum assured policies are given, maturing every year after 12 years, then it
becomes Tax free Pension plan(Retire and Enjoy) e.g. 914/12,914/13,914/14 etc.
3. If DOC is chosen as DOB, then is it Tax free Birthday gift. It also helps to Renew of relationship by
Birthday wishes.

Sample Premium Rates (Excluding GST)

Age (yrs) Term(yrs) PPT (yrs) SA(Rs.) Premium (p.a.)

25 15 15 10,00,000 66874
30 15 15 10,00,000 67070
35 15 15 10,00,000 67511

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 LIC’s NEW JEEVAN ANAND (UIN: 512N279V02) (Plan No.915)
LIC's New Jeevan Anand Plan is a Non-linked, Participating, Individual, Life Assurance plan which offers
an attractive combination of Risk cover and savings features.

Eligibility Conditions:

a) Minimum Age at entry: 18 years (completed)

b) Maximum Age at entry: 50 years (nearer birthday)
c) Maximum Maturity Age: 75 years (nearer birthday)
d) Minimum Basic Sum Assured: Rs. 100,000
e) Maximum Basic Sum Assured: No Limit (The Basic Sum Assured shall be in multiples of Rs.
5000/-)
f) Minimum Policy Term: 15 years g) Maximum Policy Term: 35 years
g) Premium Paying Mode: Yearly, Half-yearly, Quarterly , Monthly NACH only, SSS
Benefits to Agents:

Benefits to Policyholders:
A. Risk Cover:

 Sum Assured on Death along with vested Simple Reversionary Bonuses and Final
Additional bonus, if any.
 Sum Assured on Death is higher of 125 % of Basic Sum Assured or 7 times of annualized
premium. This death benefit shall not be less than 105% of total premiums paid.
 On Death after expiry of the policy term: Basic Sum Assured shall be payable
 Option to take Death Benefit in installments : an option to receive Death Benefit in
instalments over the chosen period of 5 or 10 or 15 years instead of lump sum amount
under an in-force as well as paid-up policy.

B. Maturity Benefit:
 Sum Assured on Maturity along with vested Simple Reversionary Bonuses and Final Additional
Bonus, if any, shall be payable.
 Settlement Option for Maturity Benefit: An option to receive Maturity Benefit in instalments
over the chosen period of 5 or 10 or 15 years instead of lumpsum amount under an in-force as
well as paid-up policy.

C. Policy Loan: Loan can be availed under the policy provided at least two full years’ premiums have
been paid and subject to the terms and conditions as the Corporation may specify from time to time.

D. Surrender: The policy can be surrendered at any time provided two full years’ premiums have been
paid.

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E. Riders: Life assurance saving and provision to have 4 different riders.
1. ADDB rider (Accident Death and Disability benefit rider)
2. Accident Benefit Rider
3. Term Assurance Rider
4. Critical illness Benefit

USPs:
1. Risk cover is 125% of Basic sum assured during Term of policy
2. Life time free risk cover (equal to Basic Sum assured) after payment of Maturity claim at the end of
Policy term.
3. Excellent plan for automatic free risk cover for higher ages for entire life.
Important to note: Cost of Risk cover is high and it may not be available at higher ages.

Sample Premium Rates (Excluding GST)

Age (yrs) Term(yrs) PPT (yrs) SA(Rs.) Premium (p.a.)

25 15 15 10,00,000 75939
30 15 15 10,00,000 77801
35 15 15 10,00,000 80300

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 LIC’s NEW BIMA BACHAT (UIN: 512N284V02) (Plan No.916)
LIC’s New Bima Bachat is a participating, non-linked, life assurance savings cum protection plan, where
premium is paid in lump sum at the outset of the policy. It is a money-back plan.
Eligibility Conditions:

Benefits to Agents:

Commission/Remuneration payable to the Agents

Benefits to Policyholders:
A. Risk Cover:
 On death during the first five policy years: “Sum Assured on Death”.
 On death after completion of five policy years: “Sum Assured on Death” along with
Loyalty Addition, if any.
 Where “Sum Assured on Death” is defined as higher of 1.25 times the single premium;
or Basic Sum Assured.
 Option to take Death Benefit in installments: an option to receive Death Benefit in
instalments over the chosen period of 5 or 10 or 15 years instead of lump sum amount.
 No deduction of survival benefit if already paid, in case of death during policy term.

B. Survival Benefits: On the Life Assured surviving to the end of the specified durations during the
policy term, a fixed percentage of Basic Sum Assured is payable.
 Policy term 9 years: 15% of the Basic Sum Assured at the end of each of 3rd & 6th policy Yr
 Policy term 12 years: 15% of the Basic S.A. at the end of each of 3rd, 6th & 9th policy Yr
 Policy term 15 years: 15% of the Basic S.A. at the end of each of 3rd , 6th, 9th & 12th policy yr

C. Maturity Benefit:
 Payment of Single premium (excluding taxes and extra premium, if any) along with Loyalty
Addition.

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  Settlement Option for Maturity Benefit: An option to receive Maturity Benefit in instalments
over the chosen period of 5 or 10 or 15 years instead of lump sum amount.

D.Loan :
Loan facility is available under this plan at any time after completion of one policy year.
The maximum loan that can be granted shall be upto 90% of the Surrender Value as on the date of
sanction of loan.

E. Surrender:
Policy can be surrendered within 1st year of the policy also as per % of single premium paid
The Guaranteed Surrender Value allowable shall be as under:
• First year: 75% of the Single Premium excluding taxes and extra premium, if any.
• Thereafter: (90% of the Single Premium excluding taxes, extra premium) less (all survival
benefits paid till the date of surrender) .

F. Riders: Life assurance saving and provision to have 2 different riders.

1. ADDB rider (Accident Death and Disability benefit rider)
2. Term Assurance Rider

USP:
1. Guaranteed return as premium is less than Sum Assured.
2. SB claims are not deducted in case of Death Claim.
3. Loan facility after one policy year.

Sample Premium Rates (Excluding GST)

Age (yrs) Term(yrs) PPT (yrs) SA(Rs.) Premium (p.a.)

25 15 Single Premium 10,00,000 734065
30 15 Single Premium 10,00,000 735300
35 15 Single Premium 10,00,000 737960

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 LIC’s SINGLE PREMIUM ENDOWMENT PLAN (UIN: 512N283V02) (Plan No.917)
LIC’s Single Premium Endowment Plan is a non linked, participating, individual, life assurance, savings
plan which offers an attractive combination of Risk cover and saving features.

Eligibility Conditions:

a) Minimum entry age: 90 days (completed)

b) Maximum entry age: 65 years (nearest birthday)
c) Minimum age at maturity: 18 years (completed)
d) Maximum maturity age: 75 years (nearest birthday)
e) Minimum policy term: 10 years
f) Maximum policy term: 25 years
g) Minimum Sum Assured: Rs.50, 000
h) Maximum Sum assured: No limit Sum Assured will be in multiples of Rs.5, 000 /- only.
i) Premium payment mode: Single Premium only

Benefits to Agents:
Commission payable to Agents 2% of the Single Premium received (excluding applicable taxes, if any).

Benefits to Policyholders:
A. Risk Cover:
 For life assured whose age at entry is less than 8 years, risk under the policy will commence
either 2 years from date of commencement or from the policy anniversary coinciding with or
immediately following the attainment of 8 years of age, whichever is earlier
 On death during the policy term before the date of commencement of risk: Return of single
premium (excluding taxes, extra premium and rider premiums if any), without interest.
 On death during the policy term after the date of commencement of risk: Sum Assured along
with vested Simple Reversionary Bonuses and Final Additional Bonus, if any. Where, “Sum
Assured on Death” is defined as higher of Basic Sum Assured or 1.25 times of Single premium
(excluding taxes, extra premium and rider premiums, if any).
 Option to take Death Benefit in installments.

B. Maturity Benefit:

 On Life Assured surviving the policy term , Sum Assured on Maturity , along with vested Simple
Reversionary Bonuses and Final Additional Bonus if any, shall be payable.
 Settlement Option for Maturity Benefit

D.Loan :
Loan facility is available under this plan at any time after completion of one policy year.
The maximum loan that can be granted shall be upto 90% of the Surrender Value as on the date of
sanction of loan.
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E. Surrender:
The policy can be surrendered at any time during the policy term of the policy also as per % of single
premium paid.
The Guaranteed Surrender Value allowable shall be as under:
• First year: 75% of the Single Premium excluding taxes and extra premium, if any.
• Thereafter: (90% of the Single Premium excluding taxes, extra premium) less (all survival
benefits paid till the date of surrender) .

F. Riders: Life assurance saving and provision to have 2 different riders.

1. ADDB rider (Accident Death and Disability benefit rider)
2. Term Assurance Rider

USPs:
1. Guaranteed return as premium is less than Sum Assured.
2. Loan facility after one policy year.
3. Positioned against Bank Fixed Deposits (10 to 25 years) with Risk Cover from age of 3
months to 65 years
4. Excellent gift by Parents/Grand Parents to children on Birthdays .
5. Provision of Marriage / Education of Children

Sample Premium Rates (Excluding GST)

Age (yrs) Term(yrs) PPT (yrs) SA (Rs.) Premium (p.a.)

25 15 Single Premium 10,00,000 611900
30 15 Single Premium 10,00,000 612600
35 15 Single Premium 10,00,000 614300

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 LIC’s NEW MONEY BACK PLAN-20 YEARS (UIN: 512N280V02) (Plan No.920)
LIC's New Money Back Plan-20 years is a Non-Linked, Participating, Limited Premium, Individual, Life
Assurance plan which offers an attractive combination of protection against death throughout the term
of the plan along with the periodic payment on survival Benefit at specified durations during the term.

Eligibility Conditions:

a) Minimum Basic Sum Assured : Rs. 100,000

b) Minimum Age at entry : 13 years (completed)
c) Maximum Age at entry : 50 years (nearer birthday)
d) Maximum Maturity Age : 70 years (nearer birthday)
e) Maximum Basic Sum Assured : No Limit (The Basic Sum Assured shall be in multiples of Rs. 5000)
f) Policy Term : 20 years
g) Premium Paying Term : 15 years
h) Premium Paying Mode: Yearly, Half-yearly, Quarterly , Monthly NACH only, SSS

Benefits to Agents:

Benefits to Policyholders:
A. Risk Cover:

 Sum Assured on Death along with vested Simple Reversionary Bonuses and Final
Additional bonus, if any.
 Sum Assured on Death is higher of 125% of basic sum assured or 7 times of annualised
premium. This death benefit shall not be less than 105% of total premiums paid.
 No deduction of Survival Benefit claim paid in case of death during Policy term.

B. Survival Benefit:
 In case of Life Assured surviving to the end of the specified durations, 20% of the Basic Sum
Assured shall be payable at the end of each of 5th, 10th & 15th policy year.

C. Maturity Benefit:
 Sum Assured on Maturity along with vested Simple Reversionary Bonuses and Final Additional
Bonus, if any, shall be payable. Where “Sum Assured on Maturity” is equal to 40% of the Basic
Sum Assured.
 Settlement Option for Maturity Benefit: an option to receive Maturity Benefit in instalments
over the chosen period of 5 or 10 or 15 years instead of lumpsum amount under an in-force as
well as paid-up policy

D. Loan :
Loan facility is available under this plan, after payment of premiums for at least 2 full years.
The maximum loan that can be granted shall be upto 90% of the Surrender Value.
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E. Surrender:
The policy can be surrendered at any time during the policy term provided atleast two full years’
premiums have been paid

F. Riders: Life assurance saving and provision to have 4 different riders.

1. ADDB rider (Accident Death and Disability benefit rider)
2. Accident Benefit Rider
3. Term Assurance Rider
4. Critical illness Benefit
G. USP:
1. Risk cover is 125% of Sum Assured
2. In case of Death claim, SB claims paid are not deducted.

Sample Premium Rates (Excluding GST)

Age (yrs) Term(yrs) PPT (yrs) SA(Rs.) Premium (p.a.)

25 20 15 10,00,000 73783
30 20 15 10,00,000 74518
35 20 15 10,00,000 75890

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 LIC’s NEW MONEY BACK PLAN-25 YEARS (UIN: 512N278V02) (Plan No.921)
LIC's New Money Back Plan-25 years is a Non-Linked Participating, Limited Premium, Individual, Life
Assurance plan which offers an attractive combination of protection against death throughout the term
of the plan along with the periodic payment on Survival benefit at specified durations during the term.
Eligibility Conditions:
a) Minimum Age at entry : 13 years (completed)
b) Maximum Age at entry : 45 years (nearer birthday)
c) Maximum Maturity Age : 70 years (nearer birthday)
d) Minimum Basic Sum Assured : Rs. 100,000
e) Maximum Basic Sum Assured : No Limit (The Basic Sum Assured shall be in multiples of Rs. 5000)
f) Policy Term : 25 years
g) Premium Paying Term : 20 years
h) Premium Paying Mode: Yearly, Half yearly, Quarterly , Monthly NACH only, SSS

Benefits to Agents:

Benefits to Policyholders:
A. Death benefit:
 Sum Assured on Death along with vested Simple Reversionary Bonuses and Final
Additional bonus, if any.
 Sum Assured on Death is higher of 125% of basic Sum Assured or 7 times of annualized
premium. This death benefit shall not be less than 105% of total premiums paid.
 Option to take Death Benefit in installments: an option to receive death benefit in
instalments over the chosen period of 5 or 10 or 15 years instead of lump sum amount
under an in-force as well as paid-up policy.
 No deduction of Survival Benefit claim paid in case of death during Policy term.

B. Survival Benefit:
 In case of Life Assured surviving to the end of the specified durations, 20% of the Basic Sum
Assured shall be payable at the end of each of 5th, 10th , 15th and 20th policy year.

C. Maturity Benefit:
 Sum Assured on Maturity along with vested Simple Reversionary Bonuses and Final Additional
Bonus, if any, shall be payable. Where “Sum Assured on Maturity” is equal to 40% of the Basic
Sum Assured.

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  Settlement Option for Maturity Benefit : an option to receive Maturity Benefit in installments
over the chosen period of 5 or 10 or 15 years instead of lumpsum amount under an in-force as
well as paid-up policy.

D. Loan :
Loan facility is available under this plan, after payment of premiums for at least 2 full years.
The maximum loan that can be granted shall be upto 90% of the Surrender Value.

E. Surrender:
The policy can be surrendered at any time during the policy term provided atleast two full years’
premiums have been paid

F. Riders: Life assurance saving and provision to have 4 different riders.

1. ADDB rider (Accident Death and Disability benefit rider)
2. Accident Benefit Rider
3. Term Assurance Rider
4. Critical illness Benefit

G. USP:
1. Risk cover is 125% of Sum Assured
2. In case of Death claim, SB claims paid are not deducted.

Sample Premium Rates (Excluding GST)

Age (yrs) Term(yrs) PPT (yrs) SA(Rs.) Premium (p.a.)

25 25 20 10,00,000 56290
30 25 20 10,00,000 57221
35 25 20 10,00,000 58936

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 LIC’s NEW CHILDREN’S MONEY BACK PLAN (UIN: 512N296V02) (Plan No.932)
LIC's New Children’s Money Back Plan is a Non-linked, Participating, Individual, Life Assurance money
back plan. This plan is specially designed to meet the educational, marriage and other needs of growing
children through Survival Benefits.

Eligibility Conditions:
a) Minimum Age at entry for Life Assured: [0] years (last birthday)
b) Maximum Age at entry for Life Assured: [12] years (last birthday)
c) Minimum/ Maximum Maturity Age : [25] years (last birthday) Life Assured
d) Minimum Basic Sum Assured : Rs. 100,000
e) Maximum Basic Sum Assured: No Limit (The Basic S.A. shall be in multiples of Rs. 10,000)
f) Policy Term/Premium Paying Term : [25 – Age at entry] years
g) Premium Paying Mode : Yearly, Half yearly, Quarterly , Monthly NACH only, SSS

Benefits to Agents:

Benefits to Policyholders:
A. Risk Cover:
 In case the age at entry of the Life Assured is less than 8 years (last birthday), the risk under
this plan will commence either one day before the completion of 2 years from the date
commencement of policy or one day before the policy anniversary coinciding with or
immediately following the completion of 8 years of age, whichever is earlier.
 On Death before 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 commencement of Risk
 Sum Assured on Death along with vested Simple Reversionary Bonuses and Final
Additional bonus, if any.
 Sum Assured on Death is higher of Basic Sum Assured or 7 times of annualized premium.
This death benefit shall not be less than 105% of total premiums paid.
 Option to take Death Benefit in installments : an option to receive death benefit in
instalments over the chosen period of 5 or 10 or 15 years instead of lump sum amount
under an in-force as well as paid-up policy.

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B. Survival Benefit:
 In case of Life Assured surviving to the end of the specified durations, 20% of the Basic Sum
Assured shall be payable at the completion of ages 18 years, 20 years and 22 years.

C. Maturity Benefit:

 At the completion of age of 25 Years: 40% of Sum Assured + Simple Reversionary Bonuses +
Final Additional Bonus, if any
 Settlement Option for Maturity Benefit : an option to receive Maturity Benefit in installments
over the chosen period of 5 or 10 or 15 years instead of lumpsum amount under an in-force as
well as paid-up policy

D. Loan:
Loan facility is available under this plan, after payment of premiums for at least 2 full years.
The maximum loan that can be granted shall be upto 90% of the Surrender Value.

E. Surrender:
The policy can be surrendered at any time during the policy term provided at least two full years’
premiums have been paid.

F. Riders: Life assurance saving and provision to has only one rider.
1. Premium Waiver Benefit Rider

Sample Premium Rates (Excluding GST)

Age (yrs) Term(yrs) PPT (yrs) SA(Rs.) Premium (p.a.)

0 25 25 10,00,000 40267
5 20 20 10,00,000 52860
10 15 15 10,00,000 75988

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 LIC’s JEEVAN LAKSHYA (UIN: 512N297V02) (Plan No.933)
LIC’s Jeevan Lakshya is a Non-linked, Participating, Individual, Limited Payment Life Assurance plan
which offers a combination of Risk cover and savings features.

Eligibility Conditions:
a) Minimum Age at entry : 18 years (last birthday)
b) Maximum Age at entry : 50 years (nearer birthday)
c) Maximum Maturity Age : 65 years (nearer birthday)
d) Minimum Basic Sum Assured : Rs. 100,000
e) Maximum Basic Sum Assured : No Limit (The Basic S.A. shall be in multiples of Rs. 10,000)
f) Policy Term : 13 to 25 years
g) Premium Paying Term : (Policy Term – 3) years
h) Premium paying mode: Yearly, Half yearly, Quarterly , Monthly NACH only, SSS

Benefits to Agents:

Benefits to Policyholders:
2. Risk Cover:
 Sum Assured on Death along with vested Simple Reversionary Bonuses and Final
Additional bonus, if any.
 Sum Assured on Death is higher of 110 % of Basic Sum Assured or 7 times of annualized
premium and Annual Income Benefit equal to 10% of the Basic Sum Assured, which shall
be payable from the policy anniversary coinciding with or following the date of death of
Life Assured, till the policy anniversary prior to the date of maturity.
 Future Premiums are waived in case of death till date of Maturity.
 This death benefit shall not be less than 105% of total premiums paid.
 Death Benefit in installments : an option to receive death benefit in instalments over the
chosen period of 5 or 10 or 15 years instead of lump sum amount under an in-force as
well as paid-up policy.

2. Maturity Benefit:
 Sum Assured on Maturity along with vested Simple Reversionary Bonuses and Final Additional
Bonus, if any, shall be payable.
 Settlement Option for Maturity Benefit : an option to receive Maturity Benefit in installments
over the chosen period of 5 or 10 or 15 years instead of lumpsum amount under an in-force as
well as paid-up policy.

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2. Loan:
Loan facility is available under this plan, after payment of premiums for at least 2 full years.
The maximum loan that can be granted shall be upto 90% of the Surrender Value.

D. Surrender:
The policy can be surrendered at any time during the policy term provided at least two full years’
premiums have been paid.

E. Riders: Life assurance saving and provision to have two riders.

1. Accident Benefit Rider
2. Critical Illness Rider

F. USP:
1. In case of death of Life Assured, Guaranteed Maturity.
2. Waiver of future Premiums.
3. 10% of Basic Sum Assured as income benefit till Maturity.
4. Best plan for making provisions for children’s education or marriage.

Sample Premium Rates (Excluding GST)

Age (yrs) Term(yrs) PPT (yrs) SA(Rs.) Premium (p.a.)

25 15 12 10,00,000 78291
30 15 12 10,00,000 78634
35 15 12 10,00,000 79418

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 LIC’s JEEVAN TARUN (UIN: 512N299V02) (Plan No.934)
LIC's JEEVAN TARUN is a Non-linked, Participating, and Individual, Life Assurance savings plan for
children which offers an attractive combination of Risk cover and saving features. This plan is specially
designed to meet the educational and other needs of growing children.

Eligibility Conditions:
a) Minimum Age at entry : [90] days (last birthday)
b) Maximum Age at entry : [12] years (last birthday)
c) Minimum/ Maximum Maturity Age : [25] years (last birthday)
d) Minimum Sum Assured : Rs. 75,000
e) Maximum Sum Assured : No Limit (The Sum Assured shall be in multiples of Rs. 5,000 from Sum
Assured Rs. 75,000 to Rs. 100,000 and Rs. 10,000/- for Sum Assured above Rs 100,000)
f) Policy Term : [25 – Age at entry] years
g) Premium Paying Term (PPT) : [20 – Age at entry] years
h) Premium paying mode: Yearly, Half yearly, Quarterly , Monthly NACH only, SSS

Benefits to Agents:

Benefits to Policyholders:
A. Risk Cover:
 In case the age at entry of the Life Assured is less than 8 years (last birthday), the risk under this
plan will commence either one day before the completion of 2 years from the date of
commencement of policy or one day before the policy anniversary coinciding with or
immediately following the completion of 8 years of age, whichever is earlier.
 On Death before 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 commencement of Risk
 Sum Assured on Death along with vested Simple Reversionary Bonuses and Final
Additional bonus, if any.
 Sum Assured on Death is higher of 125% of Basic Sum Assured or 7 times of annualized
premium. This death benefit shall not be less than 105% of total premiums paid.
 Option to take Death Benefit in installments
 No deduction of Survival Benefit claim paid in case of death during Policy term

22
B.Survival Benefit and Maturity Benefit:

C. Loan:
Loan facility is available under this plan, after payment of premiums for at least 2 full years.
The maximum loan that can be granted shall be upto 90% of the Surrender Value.

D. Surrender:
The policy can be surrendered at any time during the policy term provided at least two full years’
premiums have been paid.

E. Riders: Life assurance saving and provision to have only one rider.
1. Premium Waiver Benefit Rider

Sample Premium Rates (Excluding GST)

Age (yrs) Term(yrs) PPT (yrs) SA(Rs.) Premium (p.a.)

0 25 20 10,00,000 40904
5 20 15 10,00,000 55702
10 15 10 10,00,000 87503

23
 LIC’s JEEVAN LABH (UIN: 512N304V02 (Plan No.936)

LIC’s Jeevan Labh is a Non-Linked, Participating, Individual, Limited Payment life assurance savings plan
which offers an attractive combination of Risk cover and savings features.

Eligibility Conditions:
a) Minimum Age at entry: [8] years (completed)
b) Maximum Age at entry: [59] years (nearest birthday) for Policy Term 16 years
[54] years (nearest birthday) for Policy Term 21 years &
[50] years (nearest birthday) for Policy Term 25 years
c) Maximum Maturity Age : [75] years (nearest birthday)
d) Minimum Basic Sum Assured: Rs. 2,00,000
e) Maximum Basic Sum Assured: No Limit (The Basic S.A. shall be in multiples of Rs. 10,000)
f) Policy Term/Premium Paying Term: (16/10), (21/15) & (25/16) years
g) Premium paying mode: Yearly, Half yearly, Quarterly , Monthly NACH only, SSS

Benefits to Agents:

Benefits to Policyholders:
A. Risk Cover:

 Sum Assured on Death along with vested Simple Reversionary Bonuses and Final
Additional bonus, if any.
 Sum Assured on Death is higher of Basic Sum Assured or 7 times of annualized premium
This death benefit shall not be less than 105% of total premiums paid.
 Death Benefit in installments : an option to receive death benefit in instalments over the
chosen period of 5 or 10 or 15 years instead of lump sum amount under an in-force as
well as paid-up policy.

B. Maturity Benefit:
 Sum Assured on Maturity along with vested Simple Reversionary Bonuses and Final Additional
Bonus, if any, shall be payable.
 Settlement Option for Maturity Benefit : an option to receive Maturity Benefit in installments
over the chosen period of 5 or 10 or 15 years instead of lumpsum amount under an in-force as
well as paid-up policy.

C. Loan:
24
 Loan facility is available under this plan, after payment of premiums for at least 2 full years.
The maximum loan that can be granted shall be upto 90% of the Surrender Value.

D. Surrender:
The policy can be surrendered at any time during the policy term provided at least two full years’
premiums have been paid.

E. Riders: Life assurance saving and provision to have two riders.

1. Accident Benefit Rider
2. Critical Illness Rider

USP: Total Premium Paid is less than Sum Assured, means Guaranteed returns on Maturity.

Sample Premium Rates (Excluding GST)

Age (yrs) Term(yrs) PPT (yrs) SA(Rs.) Premium (p.a.)

25 16 10 10,00,000 82094
30 21 15 10,00,000 52351
35 25 16 10,00,000 44952

25
 LIC’s AADHAAR STAMBH (UIN: 512N310V02) (Plan No.943)

(A Non-Linked, Participating, Individual, Life Assurance Savings Plan ) LIC’s Aadhaar Stambh is a Non-
Linked, Participating, Individual, Life Assurance plan designed exclusively for male lives, which offers a
combination of Risk cover and savings.

Eligibility Conditions:
a) Minimum Age at entry : 8 years (completed)
b) Maximum Age at entry : 55 years (nearest birthday)
c) Maximum Age at Maturity : 70 years (nearest birthday)
d) Policy Term : 10 to 20 years
e) Premium Paying Term : Same as Policy Term
f) Minimum Basic Sum Assured per life : Rs. 2,00,000
g) Maximum Basic Sum Assured per life : Rs. 500,000 The Basic Sum Assured shall be in
multiples of Rs.5,000/- from Basic Sum assured Rs. 2,00,000 to 3,00,000 and Rs. 25000
for Basic Sum assured above Rs. 3,00,000 to Rs.5,00,000.
h) Premium paying mode : Yearly - Half-yearly - QLY, SSS, NACH-Monthly

Benefits to Agents:

Benefits to Policyholders:
A. Risk Cover:

 On death during first five years: “Sum Assured on Death” shall be payable.
 On death after completion of five policy years but before the date of maturity: “Sum
Assured on Death” and Loyalty Addition, if any, shall be payable.
 Sum Assured on Death is higher of Basic Sum Assured or 7 times of annualized premium
this death benefit shall not be less than 105% of total premiums paid.
 Death Benefit in installments: an option to receive Death Benefit in instalments over the
chosen period of 5 or 10 or 15 years instead of lump sum amount under an in-force as
well as paid-up policy.

B. Maturity Benefit:
 Sum Assured on Maturity along with Loyalty Addition, if any, shall be payable.
 Settlement Option for Maturity Benefit: an option to receive Maturity Benefit in instalments
over the chosen period of 5 or 10 or 15 years instead of lumpsum amount under an in-force as
well as paid-up policy.

26
C. Loan:
Loan facility is available under this plan, after payment of premiums for at least 2 full years.
The maximum loan that can be granted shall be upto 90% of the Surrender Value.

D. Surrender:
The policy can be surrendered at any time during the policy term provided at least two full years’
premiums have been paid.

E. Riders: Life assurance saving and provision to have only one rider.
1. Accident Benefit Rider

Sample Premium Rates (Excluding GST)

Age (yrs) Term(yrs) PPT (yrs) SA(Rs.) Premium (p.a.)

25 15 15 500000 26141
30 15 15 500000 26239
35 15 15 500000 26459

27
 LIC’s AADHAAR SHILA (UIN: 512N309V02 (Plan No.944)

LIC’s Aadhaar Shila is a Non-Linked, Participating, Individual, Life Assurance plan designed exclusively
for female lives, which offers a combination of Risk cover and savings.

Eligibility Conditions:
a) Minimum Age at entry : 8 years (completed)
b) Maximum Age at entry : 55 years (nearest birthday)
c) Maximum Age at Maturity : 70 years (nearest birthday)
d) Minimum Basic Sum Assured per life : Rs. 2,00,000
e) Maximum Basic Sum Assured per life : Rs. 500,000 The Basic Sum Assured shall be in
multiples of Rs.5,000/- from Basic Sum assured Rs. 2,00,000 to 3,00,000 and Rs 25000
for Basic Sum assured above Rs. 3 Lakh to Rs. Lakh.
f) Policy Term : 10 to 20 years
g) Premium Paying Term : Same as Policy Term
i) Premium Paying Mode : Yearly - Half-yearly - QLY, SSS, NACH-Monthly

Benefits to Agents:

Benefits to Policyholders:
A. Risk Cover:

 On death during first five years: “Sum Assured on Death” shall be payable.
 On death after completion of five policy years but before the date of maturity: “Sum
Assured on Death” and Loyalty Addition, if any, shall be payable.
 Sum Assured on Death is higher of 110% of Basic Sum Assured or 7 times of annualized
premium this death benefit shall not be less than 105% of total premiums paid.
 Death Benefit in installments: an option to receive Death Benefit in instalments over the
chosen period of 5 or 10 or 15 years instead of lump sum amount under an in-force as
well as paid-up policy.

B. Maturity Benefit:
 Sum Assured on Maturity along with Loyalty Addition, if any, shall be payable.
 Settlement Option for Maturity Benefit : an option to receive Maturity Benefit in instalments
over the chosen period of 5 or 10 or 15 years instead of lumpsum amount under an in-force as
well as paid-up policy.
28
C. Loan:
Loan facility is available under this plan, after payment of premiums for at least 2 full years.
The maximum loan that can be granted shall be upto 90% of the Surrender Value.

D. Surrender:
The policy can be surrendered at any time during the policy term provided at least two full years’
premiums have been paid.

E. Riders: Life assurance saving and provision to have only one rider.
1. Accident Benefit Rider

Sample Premium Rates (Excluding GST)

Age (yrs) Term(yrs) PPT (yrs) SA(Rs.) Premium (p.a.)

25 15 15 500000 26116
30 15 15 500000 26214
35 15 15 500000 26435

29
 LIC’s Jeevan Umang (UIN: 512N312V02) (Plan No.945)

LIC’s Jeevan Umang is a Non-Linked, Participating, Individual, Whole Life Assurance plan which offers a
combination of income and Risk cover.

Eligibility Conditions:

a) Minimum Age at entry : 90 days (completed)

b) Maximum Age at entry : 55 years (nearer birthday)
c) Minimum Age at the end of premium paying term : 30 years (nearer birthday)
d) Maximum Age at the end of premium paying term : 70 years (nearer birthday)
e) Age at maturity : 100 years (nearer birthday)
f) Minimum Basic Sum Assured : Rs. 2,00,000
g) Maximum Basic Sum Assured : No limit (The Basic S.A. shall be in multiples of Rs. 25,000)
h) Premium Paying Term : 15, 20, 25 and 30 years
i) Policy Term : (100 – age at entry) years
j) Premium paying term : Yearly, Half-yearly, Quarterly , MonthlyNACH only, SSS

Benefits to Agents:

Benefits to Policyholders:
A. Risk Cover:
 Risk cover: In case the age at entry of the Life Assured is less than 8 years, the risk under
this plan will commence either one day before the completion of 2 years from the date
of commencement of policy or one day before the policy anniversary coinciding with or
immediately following the completion of 8 years of age, whichever is earlier.
 On Death before commencement of Risk:
Return of premium/s paid without interest shall be payable.
 On Death after commencement of Risk:
Sum Assured on Death along with vested Simple Reversionary Bonuses and Final
Additional bonus, if any.
 Sum Assured on Death is higher of Basic Sum Assured or 7 times of annualized premium.
This death benefit shall not be less than 105% of total premiums paid.
 Death Benefit in installments: an option to receive Death Benefit in instalments over the
chosen period of 5 or 10 or 15 years instead of lump sum amount under an in-force as
well as paid-up policy.

30
B. Survival Benefit:
 Survival benefit under fully paid up policy :On the life assured surviving to the end of the
premium paying term, provided all due premiums have been paid, a survival benefit equal to 8%
of Basic Sum Assured shall be payable each year.
 Survival benefits under a paid-up policy:
If Maturity Paid-up Sum Assured is equal to or more than minimum Basic Sum Assured of Rs. 2
lakhs, Survival Benefits equal to 8% of Maturity Paid-up Sum Assured shall be payable each year.

C. Maturity Benefit:
 Sum Assured + Simple Reversionary Bonuses + Final Additional Bonus

D. Loan:
Loan facility is available under this plan, after payment of premiums for at least 2 full years.
The maximum loan that can be granted shall be upto 90% of the Surrender Value.

E. Surrender:
The policy can be surrendered at any time during the policy term provided at least two full years’
premiums have been paid.

F. Riders: Life assurance saving and provision to have five riders

1. Accidental Death and Disability Benefit Rider
2. Accident Benefit rider
3. Critical illness rider or
4. Term Assurance Rider
5. Premium waiver benefit rider

G. Revival: Revival period has been extended from 2 years to 5 years.

H. Paid-up value:
In paid-up policy also (if Paid-up Value is more than equal to Rs. 2 Lakh) the policy will be eligible for
bonus as declared by corporation every year.

USP:
 It is ATM Plan(Any Time Money).
 This policy has provision of Maturity at 100 years so that Life assured can take SB@8% of Basic
Sum Assured for 100 years. However he can get Policy surrendered at any time) and get
Surrender value. (It is like flexible Maturity)
 This is only plan where Final Additional Bonus (FAB) is added for calculating Surrender value.
( FAB is paid normally on Maturity).
 The Bonus additions after Premium Paying term, keep increasing the Higher Surrender Value.
 It is like getting higher Risk Cover at higher ages due to Bonus additions every year.
 It is better than PPF investment because of life time Guaranteed return of 8% on Basic Sum
Assured.
Sample Premium Rates (Excluding GST)

Age (yrs) Term(yrs) PPT (yrs) SA(Rs.) Premium (p.a.)

25 15 15 10,00,000 76944
30 15 15 10,00,000 76944
35 15 15 10,00,000 76944

31
 LIC’s Jeevan Shiromani (UIN: 512N315V02) (Plan No.947)
LIC’s Jeevan Shiromani is a Non-Linked, Participating, And Individual, Life Assurance Savings plan,
offers a combination of Risk Cover and savings. This plan is specially designed for High Net-worth
Individuals.

Eligibility Conditions:

h) Premium paying Mode : Yearly, Half-yearly, Quarterly, Monthly NACH only, SSS

Benefits to Agents:

Benefits to Policyholders:
A. Risk Cover:
 On death during first five years: Sum Assured on Death and accrued Guaranteed Addition @Rs.
50 per 1000 basic sum assured for first 5 years of PPT.
 On death after completion of five policy years but before the date of maturity: Sum Assured
and accrued Guaranteed [email protected] for first 5 years of PPT and for balance years of
premium paying term, rate of guaranteed addition will be Rs. 55/- per 1000 basic sum assured
and Loyalty Addition, if any, shall be payable.

 Sum Assured on Death is the higher of 125% of Basic Sum Assured or 7 times of annualised
premium.
 No deduction of Survival Benefit if already paid, in case of death during policy term.

32
B. Survival Benefit:
 For policy term 14 years:30% of Basic Sum Assured on each of 10th and 12th policy anniversary.
 For policy term 16 years:35% of Basic Sum Assured on each of 12th and 14th policy anniversary.
 For policy term 18 years:40% of Basic Sum Assured on each of 14th and 16th policy anniversary.
 For policy term 20 years:45% of Basic Sum Assured on each of 16th and 18th policy anniversary.

C. Maturity Benefit:
Sum Assured on Maturity along with accrued Guaranteed Additions and Loyalty Addition, if any,
shall be payable.
Where “Sum Assured on Maturity” is as under:
 40% of Basic Sum Assured for policy term 14 years
 30% of Basic Sum Assured for policy term 16 years
 20% of Basic Sum assured for policy term 18 years
 10% of Basic Sum assured for policy term 20 years

D. Lumpsum amount equal to 10% of the chosen Basic Sum Assured on diagnosis of any of the specified
15 Critical Illnesses.

E. Loan:
Loan facility is available under this plan, after payment of premiums for at least 1 full year premiums
have been paid and on completion of 1 policy year.
The maximum loan that can be granted shall be upto 90% of the Surrender Value.

F. Surrender:
The policy can be surrendered at any time during the policy term provided at least 1 full years’
premiums have been paid and also completion of 1 policy year.

G. Riders: Life assurance saving and provision to have four riders

1. Accidental Death and Disability Benefit Rider
2. Accident Benefit rider
3. Critical illness rider
4. Term Assurance Rider

USP:
1. High Tax free cash asset is created for self or Family.
2. Critical illnesses benefit @10% of Basic Sum Assured.

Sample Premium Rates (Excluding GST)

Age (yrs) Term(yrs) PPT (yrs) SA(Rs.) Premium (p.a.)

25 14 10 10,000,000 1071630
30 16 12 10,000,000 904050
35 20 16 10,000,000 706090

33
 LIC’s Bima Shree (UIN: 512N316V02)(Plan No.948)

LIC’s Bima Shree plan is a Non-Linked, Participating and Individual, Life Assurance Savings Plan offers a
combination of Risk Cover and savings. This plan is specially designed for High Net-worth Individuals.

Eligibility Conditions:

h) Premium Paying Mode : Yearly, Half-yearly, Quarterly , Monthly- NACH only, SSS

Benefits to Agents:

Benefits to Policyholders:
A. Risk Cover:
 On death during first five years: Sum Assured on Death and accrued Guaranteed Addition@Rs.
50 per 1000 basic sum assured for first 5 years of PPT.
 On death after completion of five policy years but before the date of maturity: Sum Assured
and accrued Guaranteed Addition @Rs. 50 for first 5 years of PPT and for balance years of
premium paying term, rate of guaranteed addition will be Rs. 55/- per 1000 basic sum assured
and Loyalty Addition, if any, shall be payable.
 Sum Assured on Death is the higher of 125% of Basic Sum Assured or 7 times of annualised
premium.
 No deduction of Survival Benefit if already paid, in case of death during policy term.

B.Survival Benefit:
 For policy term 14 years:30% of Basic Sum Assured on each of 10th and 12th policy anniversary.
 For policy term 16 years:35% of Basic Sum Assured on each of 12th and 14th policy anniversary.
 For policy term 18 years:40% of Basic Sum Assured on each of 14th and 16th policy anniversary.
 For policy term 20 years:45% of Basic Sum Assured on each of 16th and 18th policy anniversary.

34
C. Maturity Benefit: Sum Assured + accrued Guaranteed Additions* and Loyalty Addition Where “Sum
Assured on Maturity” is as under:
 40% of Basic Sum Assured for policy term 14 years
 30% of Basic Sum Assured for policy term 16 years
 20% of Basic Sum assured for policy term 18 years
 10% of Basic Sum assured for policy term 20 years

D. Loan:
Loan facility is available under this plan, after payment of premiums for at least 1 full year premiums
have been paid and on completion of 1 policy year.
The maximum loan that can be granted shall be upto 90% of the Surrender Value.

E. Surrender:
The policy can be surrendered at any time during the policy term provided at least 1 full years’
premiums have been paid and also completion of 1 policy year.

F. Riders: Life assurance saving and provision to have four riders

1. Accidental Death and Disability Benefit Rider
2. Accident Benefit rider
3. Critical illness rider
4. Term Assurance Rider

Sample Premium Rates (Excluding GST)

Age (yrs) Term(yrs) PPT (yrs) SA(Rs.) Premium (p.a.)

25 14 10 10,00,000 108241
30 16 12 10,00,000 91336
35 20 16 10,00,000 71442

35
 LIC’s MICRO BACHAT UIN: 512N329V02) (Plan No.951)

LIC’s Micro Bachat is a regular premium, Non-linked, Participating, Individual, Life Assurance plan which
offers a combination of protection and savings.

Eligibility Conditions:
a) Minimum Age at entry : 18 years (completed)
b) Maximum Age at entry : 55 years (nearer birthday)
c) Premium Paying Term : Same as Policy Term
d) Minimum Basic Sum Assured : Rs. 50,000
e) Maximum Basic Sum Assured per life: Rs. 200,000 The Basic S.A. shall be available in multiples of
Rs.5, 000.
f) Policy Term : 10 to 15 years
g) Maximum Age at Maturity : 70 years (nearer birthday)
h) Premium Paying Mode : Yearly, Half-yearly, Quarterly, monthly ( ordinary)

Benefits to Agents:

Benefits to Policyholders:

A. Risk Cover:

 On death during first five years: “Sum Assured on Death” shall be payable.
 On death after completion of five policy years but before the date of maturity: Sum
Assured on Death and Loyalty Addition, if any, shall be payable.
 Sum Assured on Death is higher of Basic Sum Assured or 7 times of annualized premium.
This death benefit shall not be less than 105% of total premiums paid.
 Option to take Death Benefit in installments

B. Maturity Benefit:
 Sum Assured on Maturity along with Loyalty Addition, if any, shall be payable.

C: Auto cover period:

(a) If at least three full years’ but less than five full years’ premiums have been paid in respect of a policy
and any subsequent premium is not duly paid: Auto Cover Period of six months from the due date of
first unpaid premium (FUP) shall be available.
(b) If at least five full years’ premiums have been paid in respect of a policy and any subsequent
premium is not duly paid: Auto Cover Period of two years from the due date of first unpaid premium
(FUP) shall be available

36
D. Loan:
Policy Loan will be available under this product after at least 3 full years’ premiums have been paid.
The maximum loan as a percentage of the surrender value shall be as under:
For inforce policies -- up to 70%
For paid-up policies – up to 60%

E. Surrender:
The policy can be surrendered at any time during the policy term provided at least one full year’s
premiums have been paid.

G: Riders
Life assurance saving and provision to have two riders
1. Accidental Death and Disability Benefit Rider
2. Accident Benefit rider
USP:
 It is cheapest plan without GST.
 It is only plan with Auto cover of 6 months, if at least three full years’ but less than five full
years’ and 2 years, if at least five full years’ premiums have been paid in respect of a policy.

Sample Premium Rates (with AB Excluding GST)

Age (yrs) Term(yrs) PPT (yrs) SA(Rs.) Premium (p.a.)

25 15 15 2,00,000 9914
30 15 15 2,00,000 9953
35 15 15 2,00,000 10031

37
 LIC’s New Tech-Term (UIN: 512N351V01) (Plan No.954)
LIC’s Tech-Term is a Non-Linked, Non-participating Online Term Assurance Plan which provides
financial protection to the insured’s family in case of his/her unfortunate death during the policy term.
This plan will be available online only.

Eligibility Conditions:

h) Minimum Premium : Rs 3000 for Regular/Limited premium policies and Rs. 30,000 for Single
Premium policies
i ) Premium Paying Mode: Regular Premium, Limited Premium or Single Premium
Benefits to Agents:
Plan will be available online only, hence Agent commission is not paid as per IRDA regulations for online
products.
Benefits to Policyholders:
A. Risk Cover:

 Regular premium and Limited premium payment policy: Sum Assured on Death shall
be payable.
 Sum Assured on Death is higher of Basic Sum Assured or 7 times of annualized premium.
This death benefit shall not be less than 105% of total premiums paid.
 For Single premium policy :“Sum Assured on Death” is defined as the higher of 125% of
Single Premium or Absolute amount assured to be paid on death
 Under this plan there is flexibility to choose from two death benefit at the proposal
stage itself.
o Option I: Level Sum Assured
o Option II: Increasing Sum Assured
 Option to take Death Benefit in installments

B. Maturity Benefit:
Any maturity benefit is not available under this policy as it is a term insurance policy.
C: Riders
Plan has provision to has one rider
1. Accident Benefit rider
Sample Premium Rates (Excluding GST)
Age (yrs) Term(yrs) PPT (yrs) SA(Rs.) Premium (p.a.)
25 15 15 5000000 4150
30 15 15 5000000 4700
35 15 15 5000000 5950

38
 LIC’S NEW JEEVAN AMAR (UIN NO- 512N350V01) T-955

LIC’s JEEVAN AMAR plan is a Non-Linked, Without Profit, pure Term protection plan. Under this plan
there is flexibility to choose from two death benefit options viz: Level Sum Assured and Increasing Sum
Assured.
Eligibility Conditions:

Benefits to Agents:

Benefits to Policyholders:
A. Risk Cover:

 Regular premium and Limited premium payment policy: Sum Assured on Death shall
be payable.
 Sum Assured on Death is higher of Basic Sum Assured or 7 times of annualized premium.
This death benefit shall not be less than 105% of total premiums paid.
 For Single premium policy :“Sum Assured on Death” is defined as the higher of 125% of
Single Premium or Absolute amount assured to be paid on death
 Under this plan there is flexibility to choose from two death benefit:
o Option I: Level Sum Assured
o Option II: Increasing Sum Assured

B. Maturity Benefit: Any maturity benefit is not available under this policy as it is a term insurance
policy.
C: Riders
Plan has provision to has one rider
1. Accident Benefit rider
Sample Premium Rates (Excluding GST)
Age (yrs) Term(yrs) PPT (yrs) SA(Rs.) Premium (p.a.)
25 15 15 2500000 3525
30 15 15 2500000 4050
35 15 15 2500000 5150

39
 LIC’s NEW ENDOWMENT PLUS (UIN: 512L301V02)(Plan No.935)

LIC’s New Endowment Plus is a Unit Linked, Non-Participating, Regular Premium, Individual Life
Insurance plan which offers investment cum insurance cover during the term of the policy.
Eligibility Conditions:

Benefits to Agents:

Benefits to Policyholders:

A. Risk Cover:
On death before the Date of Commencement of Risk: An amount equal to the Unit Fund Value shall be
payable.
On death after the Date of Commencement of Risk: An amount equal to the highest of the following
shall be payable
 Basic Sum Assured reduced by Partial Withdrawals made during the two years period
immediately preceding the date of death;
 or Unit Fund Value;
 or 105% of the total premiums received upto the date of death reduced by Partial Withdrawals
made during the two years period immediately preceding the date of death Where, ‘Basic Sum
Assured’ is equal to ‘10 times of Annualized Premium’.

B. Maturity Benefit:
On Life Assured surviving the stipulated date of maturity, an amount equal to the Unit Fund Value shall
be payable.
C. Partial Withdrwal:
A Policyholder can partially withdraw the units at any time after the fifth policy anniversary and
provided all due premiums till date of partial withdrawal have been paid.
D. Surrender:
The policy shall be terminated on the date of intimation for surrender and the balance amount in the
Unit Fund shall be refunded to the Policyholder after 5 years.
E: Riders
Plan has provision of Accidental Death Benefit Rider.
H. NO GST: From Policyholder
40
I. Discontinued Policy Fund: Policy will be treated discontinued, if policy is surrendered during the 5
years’ lock-in period or after the date of expiry of grace period. A discontinued policy can be revived
within a revival period of 3 years from the date of first unpaid premium or upto the date of maturity,
whichever is earlier. Policy which is surrendered during lock-in-period cannot be revived within
revival period of 3 years. Guaranteed interest rate is 4% p.a.

USP:
1) Low premium allocation charges : 1st Year @ 7.50%,2nd to 5th Year @5% and thereafter 3% of
Premium
2) Low Policy Administration Charges:

3) Low Accident Benefit Charges @ Rs.0.40 per Thousand Accident Benefit Sum Assured
4) Low Fund Management Charges @0.70% p.a. of Unit Fund
5) Flexibility to choose 4 Funds to invest
6) Flexibility to switch for from one fund to another (4 switches free of charge)
7) Fund Management Charges on “Discontinued Policy Fund” ( If policy is discontinued before 5
years): @0.50% p.a. of Unit Fund
8) Market Linked Returns: Advantage of LIC’s experience in Fund Management

To get confidence about quality of investment in ULIPs:

To check ULIP NAV, Asset Pattern, Portfolio of Investment of every ULIP plan launched so far check
www.licindia.in -------> Plan NAV------>ULIP Asset Pattern and ULIP Periodic Disclosure (Quarterly)
one can find out there how LIC is investing funds and also in which company.
Do not worry LIC is investing in Market.
Get Benefit of vast experience of LIC in Capital Market investment.

9) IRDA (Unit Linked Insurance Products) Regulations, 2019 for Reduction in Yield(RIY) chart:
Maximum returns in Yield (RIY) allowed excluding Mortality Charges.

41
 LIC’s Nivesh Plus (UIN: 512L317V01) (Plan No.849)
LIC’s Nivesh Plus is a Unit Linked, Non-Participating, Single Premium Individual Life Insurance plan.
You can buy this plan offline (through an intermediary) as well as online.

Eligibility Conditions:

Benefits to Agents:

Benefits to Policyholders:

A. Risk Cover:
On death before the Date of Commencement of Risk: An amount equal to the Unit Fund Value shall be
payable.
On death after the Date of Commencement of Risk: An amount equal to the highest of the following
shall be payable
 Basic Sum Assured reduced by Partial Withdrawals made during the two years period
immediately preceding the date of death;
 or Unit Fund Value;
B. Maturity Benefit:
On Life Assured surviving the stipulated date of maturity, an amount equal to the Unit Fund Value shall
be payable.

C. Guaranteed Additions: Guaranteed Additions as a percentage of Single Premium shall be added to

the Unit Fund on completion of specific duration of policy years.

D. Partial Withdrwal:
A Policyholder can partially withdraw the units at any time after the fifth policy anniversary and
provided all due premiums till date of partial withdrawal have been paid.

E. Surrender:
The policy shall be terminated on the date of intimation for surrender and the balance amount in the
Unit Fund shall be refunded to the Policyholder.

42
F. Refund of Mortality Charges:
On Life Assured surviving the date of maturity provided all due premiums under the policy have been
paid, an amount equal to the total amount of mortality charges deducted in respect of life insurance
cover shall be payable along with the Maturity Benefit.

G. Riders:
Plan has provision of Accidental Death Benefit Rider
H. NO GST: From Policyholder

I. Discontinued Policy Fund: “Date of discontinuance of the policy” shall be the date on which the
insurer receives the intimation from the Life Assured or Policyholder about the surrender of the policy.
Policy will go to discontinuance fund provided policy is surrendered during lock in period of 5 years.
Policy which is surrendered during lock-in-period cannot be revived within revival period of 3 years.
Guaranteed interest rate is 4% p.a.

USP:
1) Five year FD. Better than Bank FD.
2) Low premium allocation charges : 3.30 % of Premium Received(Offline) and 1.50% of Premium
Received (Online)
3) Low Policy Administration Charges: NIL
4) Low Accident Benefit Charges : @0.40 per Thousand Accident Benefit Sum Assured
5) Low Fund Management Charges: 1.35 % p.a. of Unit Fund
6) Flexibility to choose 4 Funds to invest
7) Flexibility to switch for from one fund to another (4 switches free of charge)
8) Online Switching facility available
9) Market Linked Returns: Advantage of LIC’s experience in Fund Management

To get confidence about quality of investment in ULIPs:

To check ULIP NAV, Asset Pattern, Portfolio of Investment of every ULIP plan launched so far check
www.licindia.in -------> Plan NAV------>ULIP Asset Pattern and ULIP Periodic Disclosure
(Quarterly) one can find out there how LIC is investing funds and also in which company.
Do not worry LIC is investing in Market.
Get Benefit of vast experience of LIC in Capital Market investment.

10) IRDA (Unit Linked Insurance Products) Regulations, 2019 for Reduction in Yield(RIY) chart:
Maximum returns in Yield (RIY) allowed excluding Mortality Charges.

43
 LIC’s SIIP (UIN: 512L 334 V01) (Plan No.852)
LIC’s SIIP is a Unit Linked, Non-Participating, Regular Premium, Individual Life Insurance plan which
offers insurance cum investment cover throughout the term of the policy.
Eligibility Conditions:

Benefits to Agents:

Benefits to Policyholders:

A. Death Benefit:
On death before the Date of Commencement of Risk: An amount equal to the Unit Fund Value shall be
payable.
On death after the Date of Commencement of Risk: An amount equal to the highest of the following
shall be payable
 Basic Sum Assured reduced by Partial Withdrawals made during the two years period
immediately preceding the date of death;
 or Unit Fund Value;

B. Maturity Benefit: On Life Assured surviving the stipulated date of maturity, an amount equal to the
Unit Fund Value shall be payable + Refund of Mortality Premium+ Guaranteed Additions at the end of
6,10,15,20and 25 policy years.
C. Partial Withdrawal:
A Policyholder can partially withdraw the units at any time after the fifth policy anniversary and
provided all due premiums till date of partial withdrawal have been paid.
D. Surrender:
The policy shall be terminated on the date of intimation for surrender and the balance amount in the
Unit Fund shall be refunded to the Policyholder after 5 years.
E. Refund of Mortality Charges:
On Life Assured surviving the date of maturity provided all due premiums under the policy have been
paid, an amount equal to the total amount of mortality charges deducted in respect of life insurance
cover shall be payable along with the Maturity Benefit.

44
F. Settlement option for Death Benefit:
The instalment shall be the total number of units as on the date of intimation of death divided by
total number of instalments (i.e. 5, 10, 20 and 60 for yearly, half-yearly, quarterly and monthly
instalments in 5 year period respectively).

G. Discontinued Policy Fund: Fund value is transferred to Discontinued Policy fund after deducting
discontinuance charges. Policy will be treated discontinued if policy will be surrendered during the 5
years’ lock-in period or after the date of expiry of grace period. A discontinued policy shall be revived
within a revival period of 3 years from the date of first unpaid premium or upto the date of maturity,
whichever is earlier.
Guaranteed interest rate is 4% p.a.
H. Riders:

Plan has provision of Accidental Death Benefit Rider.

USP:
1) Even if one premium paid, Fund value is not zero.
2) Low premium allocation charges :

3)
4) Low Policy Administration Charges: NIL
5) Low Accident Benefit Charges : @0.40 per Thousand Accident Benefit Sum Assured
6) Low Fund Management Charges: 1.35 % p.a. of Unit Fund
7) Flexibility to choose 4 Funds to invest
8) Flexibility to switch for from one fund to another (4 switches free of charge)
9) Online Switching facility available
10) Low Discontinuance Charges ( If policy is discontinued before 5 years)
11) Market Linked Returns: Advantage of LIC’s experience in Fund Management

To get confidence about quality of investment in ULIPs:

To check ULIP NAV, Asset Pattern, Portfolio of Investment of every ULIP plan launched so far check
www.licindia.in -------> Plan NAV------>ULIP Asset Pattern and ULIP Periodic Disclosure (Quarterly)
one can find out there how LIC is investing funds and also in which company.
Do not worry LIC is investing in Market.
Get Benefit of vast experience of LIC in Capital Market investment.

12) IRDA (Unit Linked Insurance Products) Regulations, 2019 for Reduction in Yield (RIY) chart:
Maximum returns in Yield (RIY) allowed excluding Mortality Charges.

45
 LIC’s BHAGYA LAKSHMI PLAN – (UIN: 512N292V04)(Plan No.939)

LIC’s Bhagya Lakshmi is a limited premium paying, Non-linked, Non-participating Individual, Life, Micro
Insurance, term plan with return of 110% of total amount of premiums payable on maturity.

Eligibility Conditions:

j) Premium paying mode : Yearly, Half-yearly, Quarterly, monthly

Benefits to Agents:

Benefits to Policyholders:
A. Death Benefit:
Sum Assured on Death shall be payable where S.A. is highest of 7 times of annualized premium
or 105% of total premiums paid upto the date of death or Sum Assured.

B. Maturity Benefit: Sum Assured on Maturity equal to 110% of total amount of premiums
payable during the term.

Sample Premium Rates (Excluding GST)

Age (yrs) Term(yrs) PPT (yrs) SA(Rs.) Premium (p.a.)
25 15 13 200000 7370
30 15 13 200000 7556
35 15 13 200000 7948

46
 LIC’s NEW JEEVAN MANGAL PLAN (UIN: 512N287V03) (Plan No.940)
LIC’s New Jeevan Mangal is a Non-linked, Non-participating, Individual, Life, Micro-insurance,
protection oriented plan. This plan has an in-built Accident Benefit which provides for double risk
cover in case of accidental death.

Eligibility Conditions:

h) Premium Paying mode : Yearly, Half-yearly, Quarterly, monthly and Single

premium

Benefits to Agents:

Benefits to Policyholders:
A. Risk Cover:
 Death due to any reason other than accident: Sum Assured shall be payable where S.A.
is highest of 7 times of annualized premium or 105% of total premiums paid.
 For single premium policies: Sum Assured on Death” shall be payable i.e. higher of
125% of single premium or Sum Assured.
 Death due to accident: An additional sum equal to Sum Assured shall be payable.

B. Maturity Benefit: Sum Assured on Maturity equal to total amount of premiums payable during
the term.
Sample Premium Rates (Excluding GST)
Age (yrs) Term(yrs) PPT (yrs) SA(Rs.) Premium (p.a.)
25 15 15 200000 7480
30 15 15 200000 7630
35 15 15 200000 8010

47
 LIC’s Jeevan Akshay-VII (UIN: 512N337V03) (Plan No.857)
LIC’s Jeevan Akshay-VII Plan is a Single Premium, Non-linked, Non-participating, Individual Immediate
Annuity plan.

Eligibility Conditions:

VI. Premium Paying mode : Single premium only

Benefits to Agents:
 2% of Single Premium is payable as commission to Agent, Corporate agents, Brokers and
Insurance Marketing Firms (IMFs).
 No bonus commission shall be payable.

Benefits to Policyholders:
Annuity Options:

Mode of Annuity payment: The modes of annuity are yearly, half-yearly, quarterly, and monthly.

Sample Premium Rates (Excluding GST)

Option F “with return of Purchase price on death of Annuitant”
Age (yrs) Term(yrs) PPT (yrs) Annuity SA
30 10 SP 52750 1000000
35 10 SP 52850 1000000

48
 LIC’s Cancer Cover (UIN: 512N314V03) (Plan No.905)
 LIC’s Cancer Cover is a Non-Linked, Non-Participating, Individual, Health Insurance.
 Plan provides financial protection in case the Life Assured is diagnosed with any of the specified
Early and/or Major Stage Cancer.
Eligibility Conditions:

(j) Premium Paying mode : Yearly and Half-yearly

Benefits to Agents:

Benefits to Policyholders:
A. Early Stage Cancer:

 Lump sum benefit: 25% of Applicable Sum Insured shall be payable.

 Premium Waiver Benefit: Premiums for next three policy years or balance policy term,
whichever is lesser

B. Major Stage Cancer:

 Lump Sum: 100% of Applicable Sum Insured minus any previously paid claims in respect of Early
Stage Cancer shall be payable.
 Income benefit: Income Benefit of 1% of Applicable Sum Insured shall be payable on each policy
month following the payment of Lump Sum, for a fixed period of next ten years (120 Monthly
Installments.
 Premium Waiver Benefit: All the future premiums shall be waived during the policy term.

Sample Premium Rates (Excluding GST)

Age (yrs) Term(yrs) PPT (yrs) SA(Rs.) Premium (p.a.)
25 25 25 3500000 4130
30 20 20 3500000 4585
35 15 15 3500000 5810
49
 LIC’s New Jeevan Shanti (UIN: 512N338V03)(Plan No.858)
 This is a Non-Linked, Non-Participating, Individual, Single Premium, Deferred Annuity Plan and
a single premium plan wherein the Policyholder has an option to choose between Single life and
Joint life Deferred annuity.
 The annuity rates are guaranteed at the inception of the policy and annuities are payable post
deferment period throughout the life time of Annuitant(s).

Eligibility Conditions:

Premium Paying mode : Single premium only

Benefits to Agents:
 2% of Single Premium i.e. Purchase Price (net of taxes) is payable as commission to Agent,
Corporate agents.
 No bonus commission shall be payable.

Benefits to Policyholders:
Annuity Options: The options available are:

Option 1: Deferred annuity for Single life

Option 2: Deferred annuity for Joint life
Annuity option once chosen cannot be altered

50
Benefits payable are:

A. Risk Cover:

Death Benefit under both of the Options shall be: Higher of Purchase Price plus Accrued Additional
Benefit on Death minus Total annuity amount payable till date of death, if any OR 105% of Purchase
Price.
Accrued Additional Benefit on Death: Additional Benefit on Death shall accrue at the end of each policy
month, till the end of Deferment Period only.
The rate of Additional Benefit on Death during the deferment Period shall be as under:
Additional Benefit on Death per month= (Purchase Price * Annuity rate p.a. payable monthly) / 12
Where, Annuity rate p.a. payable monthly shall be equal to annuity rate per unit Purchase Price
applicable for monthly mode without applying any incentive and shall depend on the Option chosen,
Age at entry of the annuitant(s) and the Deferment Period opted for.

Sample Premium Rates (Excluding GST)

Option F “with return of Purchase price on death of Annuitant”
Deferment
Age (yrs) Period(yrs) PPT (yrs) Annuity Purchase Price
30 10 SP 83600 1000000
35 10 SP 85100 1000000

51
 LIC’s BIMA JYOTI (UIN: 512N339V01)(Plan No.860)
LIC’s Bima Jyoti is a Non-Linked, Non-Participating, Individual, Limited Payment and Savings Plan which
offers an attractive combination of Risk cover and savings with Guaranteed benefit and Limited
premium paying policy and Maturity starts from age of 18Years.

Eligibility Conditions:

i) Premium Paying Mode : Yearly, Half-yearly, Quarterly , Monthly- NACH only, SSS

Benefits to Agents:

Benefits to Policyholders:
A. Risk Cover:

 On Death before commencement of Risk:

 Return of premium/s paid without interest shall be payable.
 On Death after commencement of Risk:
 Sum Assured on Death and Accrued Guaranteed Additions.
 Sum Assured on Death is higher of 125% of Basic Sum Assured or 7 times of
annualized premium. This death benefit shall not be less than 105% of total
premiums paid.
 Death Benefit in installments: an option to receive Death Benefit in instalments over
the chosen period of 5 or 10 or 15 years instead of lump sum amount under an in-force
as well as paid-up policy.

52
A. Maturity Benefit:

 Sum Assured on Maturity along with Guaranteed Additions@Rs 50 per 1000 Basic SA, shall be
payable.
 Option to take Maturity Benefit in installments: an option to receive Maturity Benefit in
installments over the chosen period of 5 or 10 or 15 years instead of lump sum amount.

B. Loan: Loan facility is available under this plan, after payment of premiums for at least 2 full
years premiums have been paid.
1. For inforce policies- upto 90%
2. For paid-up policies- upto 80%

C. Surrender: The policy can be surrendered at any time during the policy term provided at least 2
full years’ premiums have been paid.

E. Riders: Five optional riders are available:

1. ADDB rider (Accident Death and Disability benefit rider)
2. Accident Benefit Rider
3. Premium Waiver Benefit Rider
4. Term Assurance Rider
5. Critical illness Benefit
However, the policyholder can opt between either of LIC’s Accidental Death and Disability
Benefit Rider or LIC’s Accident Benefit Rider. Therefore, a policyholder can opt for a maximum
of four riders under this plan.

Sample Premium Rates (Excluding GST)

Age (yrs) Term(yrs) PPT (yrs) SA(Rs.) Premium (p.a.)

25 15 10 10,00,000 113315
30 15 10 10,00,000 113609
35 15 10 10,00,000 114344

53
 LIC’s Saral Jeevan Bima (UIN:512N341V01 ) (Plan No.859)
LIC's Saral Jeevan Bima Plan is a Non-Linked, Non-Participating, Individual, Pure Risk Term Life Insurance
plan.

Eligibility Conditions:

h)Premium Paying Mode : Single ,Yearly, Half-yearly, NACH-Monthly

Benefits to Agents:

Benefits to Policyholders:
A. Risk Cover:

For regular premium or limited premium payment policy:

Equal to Sum Assured on Death which is the highest of: (a) 10 times the Annualized Premium, or (105%
of all premiums paid as on the date of death, or Absolute amount assured to be paid on death.

For Single Premium policy:

Equal to Sum Assured on Death which is the higher of:
125% of Single premium or Absolute amount assured to be paid on death

B. Maturity Benefit: No Maturity Benefit shall be payable on the Life Assured surviving the stipulated
Date of Maturity.

Sample Premium Rates (Excluding GST)

Age (yrs) Term(yrs) PPT (yrs) SA(Rs.) Premium (p.a.)

25 15 15 10,00,000 4120
30 15 15 10,00,000 4630
35 15 15 10,00,000 5700

54
 LIC’s Saral Pension (UIN: 512N342V02) (T862)
LIC’s Saral Pension is a Non-Linked, Non-Participating, Single Premium, Individual Immediate Annuity
Plan. The annuity rates are guaranteed at the inception of the policy and annuities are payable
throughout the life time of Annuitant(s).

Eligibility Conditions:

VI) Premium Paying Mode : Single Premium

Benefits to Agents:

Benefits to Policyholders:
The available two annuity options under this plan are as under:

Sample Premium Rates (Excluding GST)

Age (yrs) Term(yrs) Option Annuity Premium (sp)

60 SP F OPTION 58950 1000000
65 SP F OPTION 59450 1000000
70 SP F OPTION 60050 1000000

55
 LIC’s AROGYA RAKSHAK (UIN: 512N318V01) (Plan No.906)
LIC's Arogya Rakshak, is a Non-Linked, Non-Participating, Regular Premium, Individual, Health
Insurance plan. All family members may be insured under one policy.

Eligibility Conditions:

V. Premium Paying Mode: Yearly or Half yearly mode of payment only.

Benefits to Agents:

Benefits to Policyholders:

Riders: Provision to have 2 different riders:

1. Accident Benefit Rider
2. Term Assurance Rider
Sample Premium Rates (Excluding GST)
Age (yrs) Term(yrs) PPT (yrs) MSB Premium (p.a.)
25 15 15 10,00,000 15859
30 15 15 10,00,000 17686
35 15 15 10,00,000 20073

56
 LIC’s Dhan Rekha (UIN: 512N343V01) (Plan No.863)
LIC’s Dhan Rekha is a Non-Linked, Non-Participating, Individual, Savings, Money back Life Insurance
Plan which offers an attractive combination of Risk cover and savings.

Eligibility Conditions:

Benefits to Agents: Commission payable to Agents 2% of the Single Premium received and

Benefits to Policyholders:

A. Risk Cover:
 For Single Premium Payment: Sum Assured as 125% of Basic Sum Assured+ Guaranteed
Additions
 For Limited premium payment: Sum Assured as the higher of 125% of Basic Sum Assured or 7
times of annualized premium + Guaranteed Additions.
 Death Benefit in installments: an option to receive Death Benefit in instalments over the
chosen period of 5 years instead of lump sum amount under an in-force as well as paid-up
policy.

B. Survival Benefit:

57
C. Maturity Benefit:

 Sum Assured on Maturity along with Guaranteed Additions, shall be payable.

 Maturity Benefit in installments: an option to receive Maturity Benefit in installments
over the chosen period of 5, 10 or 15 years instead of lump sum amount under inforce or
paid up policy.

D. Guaranteed Addition:

E. Loan: Loan facility is available under this plan, after payment of premiums for at least 2 full years
premiums have been paid.
1. For inforce policies- upto 90%
2. For paid-up policies- upto 80%

F. Surrender: The policy can be surrendered at any time during the policy term provided at least 2 full
years’ premiums have been paid.

G. Riders: Five optional riders are available:

1. ADDB rider (Accident Death and Disability benefit rider)

2. Accident Benefit Rider
3. Premium Waiver Benefit Rider
4. Term Assurance Rider
5. Critical illness Benefit
However, the policyholder can opt between either of LIC’s Accidental Death and Disability Benefit Rider
or LIC’s Accident Benefit Rider. Therefore, a policyholder can opt for a maximum of four riders under
this plan.

USP:
1. Guaranteed additions in plans
2. Higher commission rate @25%, normally given in endowment type plan.
3. Limited Premium Payment facility
4. No deduction of SB Payment made easier , from maturity claim

Sample Premium Rates (Excluding GST)

Age (yrs) Term(yrs) PPT (yrs) SA(Rs.) Premium (p.a.)

25 20 10 10,00,000 102840
30 30 15 10,00,000 73342
35 40 20 10,00,000 59475

58
 LIC’s Dhan Sanchay (UIN: 512N346V01)(Plan No.865)
LIC’s Dhan Sanchay is a Non-Linked, Non-Participating, Individual, Savings, Life Insurance Plan which
offers a combination of Risk cover and savings.

Eligibility Conditions:

XI. Premium payment mode: Single, Yearly, Half-yearly, Quarterly and NACH-Monthly

Benefits to Agents:

Benefits to Policyholders:

A. Risk Cover:

59
B. Maturity Benefit: Guaranteed Income Benefit (GIB) and Guaranteed Terminal Benefit (GTB) shall
be payable.

GIB = Annualized Premium x GIB Multiple x Modal factor for GIB

GTB = Annualized Premium x GTB Multiple x Modal factor for GTB

C. Loan: Loan shall be available under the policy during the policy term i.e. before the start of the
Payout Period subject to the following:

i. Under Regular/Limited premium payment (Option A & Option B): loan can be availed during the
policy term provided at least two full years’ premiums have been paid.

Under Single Premium payment (Option C & Option D): loan can be availed during the policy term at
any time after three months from completion of the policy .

ii. The maximum Loan that can be granted during the policy term shall be as under:

Under Regular/ Limited Premium payment (Option A & Option B):

For in-force policies: upto 90% of Surrender Value
For paid-up policies: upto 80% of Surrender Value
Under Single Premium payment (Option C & Option D): upto 75% of Surrender Value.

D.Surrender:
 Under Regular/ Limited Premium payment (Option A & Option B), the policy can be surrendered
provided at least two full years’ premiums have been paid.
 Under Single Premium payment (Option C & Option D), the policy can be surrendered at any
time during the policy term subject to realization of the premium cheque.
G. Riders: Five optional riders are available:

1. ADDB rider (Accident Death and Disability benefit rider)

2. Accident Benefit Rider
3. Premium Waiver Benefit Rider
4. Term Assurance Rider
5. Critical illness Benefit
USP:

1. GIB and GTB is Guaranteed from inception of policy.

2. In Single Premium Mode, 11 times Risk cover is available under option (D), so tax benefit under
Sec10d (d) is available.
3. Policy term is 5, 10, 15 Yrs in option C and D. This plan is best positioned against Bank FDs.
4. Higher commission on 5th, 10th and 15th year.

Sample Premium Rates (Excluding GST)

Age (yrs) Term(yrs) PPT (yrs) SA(Rs.) Premium (p.a.)

25 15 10 1497380 100000
30 15 10 1493550 100000
35 15 10 1484380 100000

60
 LIC’s New Pension Plus (UIN: 512L347V01) (Plan No.867)
LIC’s New Pension Plus is a Unit Linked, Non-Participating, Individual Pension plan which helps to build
corpus by systematic and disciplined savings which can be converted into regular income. This plan can
be bought Offline (through an agent / intermediary) as well as Online.

Eligibility Conditions:

x) Premium payment mode: Single, Yearly, Half-yearly, Quarterly and NACH-Monthly

Benefits to Agents: Commission payable to Agents 2% of the Single Premium received and

Benefits to Policyholders:
A. Risk Cover:
 On death of the Life Assured before the date of Vesting: Higher of the Unit Fund Value as on
the date of intimation of death or Assured Death Benefit shall be payable
 Utilization of the proceeds of the Policy on death of the Life Assured:
 Withdraw the entire proceeds of the policy and Settlement option shall also be available.
Or
 Utilize the entire proceeds or part thereof for purchasing immediate or deferred annuity
at the then prevailing annuity rates from the Corporation.

B. Benefit payable on Vesting (i.e. at the end of Policy Term):

 On survival of the Life Assured till the date of Vesting: An amount equal to Unit Fund Value
shall be payable.
 Annuitisation of the proceeds of the Policy on Vesting/on Surrender/ on Discontinuance:
 To utilize the entire proceeds to purchase immediate or deferred annuity at the then
prevailing annuity rates from the Corporation.
Or
 To commute up to 60% and utilize the balance amount to purchase immediate or
deferred annuity at the then prevailing annuity rates from the Corporation.

61
C. Surrender :
The policyholder also has an Option to surrender the policy anytime and the Proceeds of the
Pension Discontinued Fund in respect of the Policy as on the date of expiry of lock-in period or
as on the date of surrender.

USP:
1) ULIP Pension plan with both Single Premium and Regular Mode
2) 60% commutation allowed
3) Minimum entry age 25 years but pension for 35 years.
1) Low premium allocation charges :

2) Low Policy Administration Charges:

3) Low Fund Management Charges @1.35% p.a. of Unit Fund

4) Flexibility to choose 4 Funds to invest
5) Flexibility to switch for from one fund to another (4 switches free of charge)
6) Market Linked Returns: Advantage of LIC’s experience in Fund Management

To get confidence about quality of investment in ULIPs:

To check ULIP NAV, Asset Pattern, Portfolio of Investment of every ULIP plan launched so far check
www.licindia.in -------> Plan NAV------>ULIP Asset Pattern and ULIP Periodic Disclosure (Quarterly)
one can find out there how LIC is investing funds and also in which company.
Do not worry LIC is investing in Market.
Get Benefit of vast experience of LIC in Capital Market investment.

7) IRDA (Unit Linked Insurance Products) Regulations, 2019 for Reduction in Yield(RIY) chart:
Maximum returns in Yield (RIY) allowed excluding Mortality Charges.

62
 LIC’s JEEVAN AZAD (Plan No. 868) (UIN: 512N348V01)
LIC’s Jeevan Azad is a Non-Linked, Non-Participating, Individual, Savings Life Insurance plan. This is a
Limited Premium Endowment plan under which the Premium Payment Term (PPT) is equal to Policy
Term minus 8 years.

Eligibility Condition:

h) Premium payment mode: Yearly, Half-yearly, Quarterly and NACH-Monthly

Benefits to Agents:

Benefits to Policyholders:

A. Risk cover:
 On Death: Sum Assured shall be payable where S.A. is higher of Sum Assured or 7 times
of annualized premium.
 This death benefit shall not be less than 105% of “Total Premiums Paid” upto the date of
death.

 Death Benefit in installments: an option to receive Death Benefit in instalments over

the chosen period of 5 instead of lump sum amount under an in-force as well as paid-up
policy.

B. Maturity Benefit:
On the life assured surviving the stipulated date of maturity, “Sum Assured on Maturity” which
is equal to Basic Sum Assured shall be payable.
Maturity Benefit in installments: Settlement Option is an option to receive Maturity over a
period of 5 years instead of lump sum amount under an in-force as well as Paid-up policy.
63
C. Loan: Loan shall be available under this plan after the policy acquires paid up value i.e. after at
least two full years premiums have been paid. The maximum loan as a percentage of surrender
value shall be as under:
 For in-force policies – upto 90%
 For paid-up policies – upto 80%

D. Surrender :
The policy can be surrendered at any time during the policy term provided at least two full
years’ premiums have been paid.

E. Rider:
LIC’s Accidental Death and Disability Benefit Rider
LIC’s Accident Benefit Rider
LIC’s Premium Waiver Benefit Rider
F. USP:
1) Guaranteed Maturity or Death Benefit
2) Loan after 2 years

Sample Premium Rates (Excluding GST)

Age (yrs) Term(yrs) PPT (yrs) SA(Rs.) Premium (p.a.)

25 * 15 7 500000 43516
30 15 7 500000 43614
35 15 7 500000 43884

* For a Policy of Rs. 5Lakh, total Premium paid is Rs. 3, 04,612 only.

Age (yrs) Term(yrs) PPT (yrs) SA(Rs.) Premium (p.a.)

25 ** 20 12 500000 23475
30 20 12 500000 23622
35 20 12 500000 23965

** For a Policy of Rs. 5Lakh, total Premium paid is Rs. 2, 81,700 only.

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 LIC’s DHAN VRIDDHI (Plan No. 869) (UIN: 512N362V01)
LIC’s Dhan Vriddhi is a Non-Linked, Non-Participating, Individual, Savings, Single Premium Life Insurance
plan which offers a combination of protection and savings. It is a close ended plan and shall be available
for sale upto 30th September 2023.

Eligibility Condition:

Benefits to Agents:
Commission payable to licensed Agents, Corporate Agents, Brokers, CPSC-SPV and Insurance Marketing
Firms shall be 2% of the Single Premium paid (net of any applicable taxes). No bonus commission shall
be payable under the policy.

Benefits to Policyholders:
A. Risk cover:
On death of the Life Assured, “Sum Assured on Death” along with accrued Guaranteed
Additions. “Sum Assured on Death” for both options is defined as under:
 Option 1: 1.25 times of Tabular Premium for the chosen Basic Sum Assured
 Option 2: 10 times of Tabular Premium for the chosen Basic Sum Assured
Death Benefit in installments: An option to receive Death Benefit in installments over the period
of 5 years instead of lump sum amount under the policy.
B. Maturity Benefit:
On Life Assured surviving the stipulated Date of Maturity, “Basic Sum Assured”
along with accrued Guaranteed Additions shall be payable.
Maturity Benefit in installments: an option to receive Maturity Benefit in installments over a
period of 5 years instead of lump sum amount under the policy.

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 C. Guaranteed Additions:

D. Loan: Loan shall be available at any time during the policy term after three months from
completion of the policy (i.e. 3 months from the Date of issuance of policy) or after expiry of the
free-look period, whichever is later. The maximum loan as a percentage of surrender value shall
be as under:

E. Surrender : On surrender of the policy, the Corporation shall pay the Surrender Value equal
to higher ofGuaranteed Surrender Value and Special Surrender Value.
The Guaranteed Surrender Value (GSV) payable under the policy shall be:
 During the First three policy year: 75% of the Single Premium
 Thereafter: 90% of the Single Premium (excluding Taxes, Extra Premium etc.) and
Surrender value of accrued Guaranteed additions
F. Rider:
LIC’s Accidental Death and Disability Benefit Rider
LIC’s New Term Assurance Rider
G.USP:
1. Better returns than bank FDs(e.g. 6.26% IRR at age 7 Years) + Risk cover
2. Excellent plan for reinvestment of claim payments
3. Higher Guaranteed Additions for Higher Sum Assured
4. It is close ended plan ending on 30.09.2023

Sample Premium Rates (Option 1) (Amt in Rs.) 1.25 times Risk cover of Tabular Premium
Risk cover Maturity
Ter Total Total Total
Age Tab.Pr Sum Risk Sum
m(yr GST Single GA* Risk GA Maturity
(yrs) em. Assured Cover Assured
s) Prem. cover Amt
25 15 428625 19288 447913 500000 535781 350000 885781 500000 525000 1025000
30 15 429050 19307 448357 500000 536312 350000 886312 500000 525000 1025000
35 15 430000 19350 449350 500000 537500 350000 887500 500000 525000 1025000

Sample Premium Rates (Option 2) 10 times Risk cover of Tabular Premium

Risk cover Maturity
Ter Total Sum Total
Age Tab.Pre Sum Risk Total Risk
m GST Single GA* Assure GA Maturity
(yrs) m. Assured Cover cover
(yrs) Prem. d Amt
25 15 370700 16682 387382 500000 3707000 175000 3882000 500000 262500 762500
30 15 385375 17342 402717 500000 3853750 175000 4028750 500000 262500 762500
35 15 421075 18948 440023 500000 4210750 175000 4385750 500000 262500 762500
* If Death arises in 10th year

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 LIC’s JEEVAN KIRAN (Plan No. 870) (UIN: 512N353V01)
LIC’s Jeevan Kiran is a Non-Linked, Non-Participating, Individual, Savings, Life Insurance plan. This plan
provides financial support to the family in case of unfortunate death of the life assured during the policy
term and returns the total premiums paid in case of survival till maturity.

Eligibility Condition:

j) Premium Paying Mode : Single, Half -yearly or Yearly

Benefits to Agents:

Benefits to Policyholders:
G. Risk cover:
Death benefit, payable on death of the Life Assured during the policy term after the date of
commencement of risk but before the stipulated Date of Maturity, provided the policy is inforce shall be
“Sum Assured on Death”.
Under Regular Premium Payment policy, “Sum Assured on Death” is defined as the Basic Sum Assured.

 7 times of Annualized Premium ;or

 105% of “Total Premium Paid” upto the date of death; or
 Basic Sum Assured
For Single Premium Payment policy, “Sum Assured on Death” is defined as the higher of:

 125% of Single Premium; or

 Basic Sum Assured
Death Benefit in installments: An option to receive Death Benefit in installments over the period
of 5 years instead of lump sum amount under the policy.

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 H. Maturity Benefit:
On the life assured surviving the stipulated date of maturity, provided the policy is in-force,
“Sum Assured on Maturity” shall be payable, where “Sum Assured on Maturity” is equal to
“Total Premiums Paid” under Regular Premium Payment policy and “Single Premium Paid”
under Single Premium Payment Policy.
“Total/Single Premiums Paid” means total of all the premiums received, excluding any extra
premium, any rider premium and taxes.
Maturity Benefit in installments: an option to receive Maturity Benefit in installments over a
period of 5 years instead of lump sum amount under the policy.
I. Loan: No Loan will be available under this plan.
J. Surrender :
The Surrender Value payable shall be higher of Guaranteed Surrender value (GSV) and Special
Surrender Value (SSV).
Under Single Premium Policies:
The Guaranteed Surrender Value (GSV) payable under the policy shall be:
 During the First three policy year: 75% of the Single Premium Paid (Excluding any taxes,
any underwriting extra premium and rider premium(s))
 Thereafter: 90% of the Single Premium Paid (Excluding any taxes, any underwriting extra
premium and rider premium(s))

Under Regular Premium Policies:

The policy can be surrendered at any time during the policy term provided premiums have been
paid for at least first two consecutive years.
The Guaranteed Surrender Value shall be the Total Premiums Paid multiplied by the GSV factor
applicable to Total Premiums Paid i.e. GSV= (Total Premiums Paid x GSV factor applicable to
Total Premiums Paid)
Total Premiums Paid means the all premiums received excluding any taxes, any underwriting
extra premium and rider premium(s)
K. Rider:
 Single Premium Payment: LIC’s (ADDB)Accidental Death and Disability Benefit Rider
 Regular Premium Payment: The policyholder can opt between either of the LIC’s
(ADDB)Accidental Death and Disability Benefit Rider OR LIC’s(AB) Accident Benefit Rider
G.USP:
 The option of Term Assurance plan with return of premiums is now available.
 Tax Advantage through lower GST Rate (4.5% in 1st year and 2.25% from 2nd year onwards) as
compared to 18% in Pure Term Assurance Plans, due to endowment nature of this policy
Sample Premium Rates (Single Premium) Sum Assured: Rs 15 Lakh
Age (yrs) Term(yrs) Tab. Prem. GST Total Single Prem.
25 15 40125 1806 41931
30 15 46890 2110 49000
35 15 60990 2745 63735
Sample Premium Rates (Regular Premium Mode Yearly) Sum Assured: Rs 15 Lakh
Age (yrs) Term (yrs) Tab. Prem. GST Total Single Prem.
25 15 9510 428 9938
30 15 10815 487 11302
35 15 13515 608 14123

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Accidental Death and Disability Benefit ( AD and DB ) rider UIN (512B209V02)
LIC’s Accidental Death and Disability Benefit Rider is available as an optional Rider by payment of
additional premium.
 Under an inforce policy, this Rider can be opted for at any time within the Policy Term of the
Base Plan provided the outstanding Premium Paying Term is atleast 5 years.
 An additional amount equal to the Accident Benefit Sum Assured is payable on death due to
accident, provided the Rider is inforce at the time of accident.
 In case of accidental permanent disability (within 180 days from the date of accident), an
amount equal to the Accident Benefit Sum Assured will be paid in equal monthly instalments
spread over 10 years and future premiums for Accident Benefit Sum Assured as well as
premiums for that portion of Basic Sum Assured which is equal to Accident Benefit Sum Assured
under the policy, shall be waived.

LIC’s Accident Benefit Rider UIN (512B203V03)

LIC’s Accident Benefit Rider is available as an optional Rider by payment of additional premium.

 This rider covers the payment of amount equal to "Accident benefit rider sum assured” under the policy
provided death has happened due to accidental injuries. No disability benefit is covered under this rider.
 The policyholder can opt between either of LIC’s Accidental Death and Disability Benefit Rider or LIC’s
Accident Benefit Rider. Both riders will not be available.
 Under an inforce policy, this Rider can be opted for at any time within the Premium Paying Term of the
Base Policy provided the outstanding Premium Paying Term is at least 5 years.
 If this benefit is opted for and if the Life Assured is involved in an accident leading to death within 180
days from the date of accident then an additional amount equal to the Accident Benefit Sum Assured is
payable.

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 LIC’s new Term Assurance rider (UIN 512B210V01)
LIC’s New Term Assurance Rider is available as an optional Rider at the inception of the policy by payment of
additional premium.
 The additional premium for this Rider will need to be paid along with the premium of the Base Plan and
any other Rider(s), if opted for, during the Premium Paying Term of the policy.
 An additional amount equal to Term Assurance Rider Sum Assured shall be payable on death of the Life
Assured during the Policy Term, provided the Rider cover is inforce.

LIC's New Critical Illness Benefit Rider UIN 512A212V01

LIC’s New Critical Illness Benefit Rider is available at the inception of the policy on payment of additional premium.
 The additional premium for this Rider will need to be paid along with the premium of the Base Plan and
any other Rider(s), if opted for, during the Premium Paying Term of the policy.
 The cover under this Rider shall be available during the Policy Term. If this Rider is opted for, on first
diagnosis of any one of the 15 Critical Illnesses covered under this Rider, the Critical Illness Sum Assured
shall be payable.

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 LIC’s Premium Waiver Benefit Rider (UIN: 512B204V03)

 LIC’s Premium Waiver Benefit Rider shall be allowed under a proposal / policy wherein the Life Assured is
minor (i.e. upto age 17 years (nbd)) at the time of opting this Rider.
 This Rider is allowed on the life of eligible Proposer on payment of additional premium.
 This Rider can be opted for at the inception or any time during the Premium Paying Term of the Base
policy provided the outstanding Premium Paying Term of the Base policy and the Rider is at least 5 years.

On death of Proposer of Base Policy: If this Rider is opted for, on death of Proposer of the Base Policy
(On whose life this Rider has been opted for) during the Rider Term, premiums payable in respect of Base
Policy, falling due on and after the date of death till the expiry of Rider Term, shall be waived.

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Settlement Option (for Maturity Benefit):
 Settlement Option is an option to receive Maturity Benefit in instalments over the chosen
period of 5 or 10 or 15 years instead of lumpsum amount under an in-force as well as paid-up
policy.
 This option can be exercised by the Policyholder during minority of the Life Assured or by Life
Assured aged 18 years and above, for full or part of Maturity proceeds payable under the policy.
 The amount opted for by the Policyholder/Life Assured (i.e. Net Claim Amount) can be either in
absolute value or as a percentage of the total claim proceeds payable.
 For exercising the Settlement Option against Maturity Benefit:
The Policyholder/ Life Assured shall be required to exercise option for payment of net claim
amount in instalments at least 3 months before the due date of maturity claim.

Settlement Option (for Death Benefit):

 This is an option to receive Death Benefit in instalments over the chosen period of 5 or 10 or 15
years instead of lump sum amount under an in-force as well as paid-up policy.
 This option can be exercised by the Policyholder during minority of the Life Assured or by Life
Assured aged 18 years and above, during his/her life time; for full or part of Death benefits
payable under the policy.
 The amount opted by the Policyholder/Life Assured (i.e. Net Claim Amount) can be either in
absolute value or as a percentage of the total claim proceeds payable.
 For exercising option to take Death Benefit in installments:
The Policyholder during minority of the Life Assured or the Life Assured, if major, can exercise
this option during his/her lifetime while in currency of the policy, specifying the period of
Instalment payment and net claim amount for which the option is to be exercised.

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 Why selling Single Premium Policy is Beneficial to Agents
1. Many people want to invest in lumpsum. Single Premium policy is additional Market segment
for every agent, over and above regular premium policy.
2. Single premium policy is choice of HNI clients for investments.
3. Additional income for the agent when he sells Single Premium Policy (SP) after Non-Single
Premium policy (NSP).
4. No tension of lapsation.
5. Helpful in Club membership.
6. Easy to sell.
7. Easy to qualify for MAB (Minimum Assured Business for saving Agency).
8. Easy to divert money from Bank Deposits and Mutual Funds.
9. No hassle for giving service after selling SP policy.
10. Guarantee of payment in Maturity and Death claims, so no loss of reputation for agents.
11. Easy to occupy top ranking in premium Merit list.
12. Sense of pride for being Top performer.
13. Easy to qualify in NB competitions on premium and earn Honouring, Cash awards, India/Foreign
tours.
14. Helpful to quality MDRT/COT/TOT.
15. Confidence booster for the agents by getting big amount Cheques from customers.
16. Easy for Policyholders to raise loan on Single Premium policy.
17. Single premium policy closes doors for agents of the Financial Institutions.
18. Easy to convince Policyholders to reinvest claim payouts in Single Premium Policies.
19. Single Premium policy available from Children age 3 Months to 100 Years.
20. SP Policy can be gifted by Parents, Grandparents to children or Grandchildren .

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GST Rates under Life Insurance Service

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 ULIPs Vs MUTUAL FUND
SL
DESCRIPTION ULIP MUTUAL FUND
NO
Tax percent in switching from one fund
1 No Tax Capital Gain Tax is applicable.
to another in same plan.
2 In early S.V. and Partial withdrawal No Tax Capital Gain Tax is applicable.

Maturity Tax No such provision on final

3 If 10 times risk cover is opted free under withdrawal. Capital Gain Tax is
Sec10(10d) applicable.

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 NACH
 NACH stands for National Automated Clearing House. It is a system set up by NPCI (National
Payments Corporation of India) in place of erstwhile ECS (Electronic Clearing System).

 NACH mandate form should be collected from the customer and submitted directly at the
servicing Branch for both New Business and Alteration cases.

 The Customer is not required to get the mandate verified from his/her bank.

 Separate mandate form is required for each policy. This applies to the single customer multiple
proposal cases of NB also.

 For existing policy, new NACH registration (for alteration in mode of premium payment from
ordinary to NACH) or change in bank can be done at least 15 days before FUP for monthly mode
policy and 30 days before FUP for other modes.

 Unique Mandate Ref. No. (UMRN) is allotted to each mandate by the NPCI.

 Acceptance or rejection code is allotted to each mandate by the customer’s bank on the NPCI
platform.

 Premium deduction will not start until mandate acquires acceptance code on NPCI platform.

 NACH process of invoice based deductions will be handled by that NACH Center under which the
NACH registering branch is located.

Sample NACH Mandate Form

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 eNACH
 An improved method of premium payment, Error free and fully secured NACH Mandate
Registration.
 Mobile Number, email-id is mandatory.
 Mandate to be initiated by customer on LIC Portal by following URL:
https://licindia.in/Home-(1)/Online-eNACH-(eMandate)
 Mandate Authentication modes –Net banking, or Debit Card.
 Real Time validation of mandate by the Customers’ Bank.
 Immediate updation of mandate response in NACH master through Portal/eFEAP.
 No possibility of un-invoiced NACH policy.
 At present restriction of Rs.1,00,000/-on Mandate Amount
 Total number of Banks on board for e-mandate validation through Net-Banking / Debit Card is
33, 11 Banks live only with Net-Banking and 14 Bank only with Debit Card. More banks to come
on board as mandated by NPCI.
 If the destination Bank is not on boarded for e-Mandate, then facility of e-Mandate will not be
available for those policy holders.
 Role of Sponsor Bank will be restricted to presenting and reconciling transactions.
(A Sponsor Bank is one that is merged with the National Payments Corporation of India (NPCI)
for the purpose of enabling eMandate process.)

Benefits of e-Mandate

 No handling for physical mandate

 Elimination of rejections due to “Signature difference”
 Instant UMRN generation
 Self authentication by the customer
 Data validation on the destination Bank portal

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