LIC’s Money

Back 25 yrs Sales

Brochure

COVER
 LIC’s NEW MONEY BACK PLAN-25 YEARS
(UIN: 512N278V03)
(A Par, Non-Linked, Life, Individual Savings Plan)
LIC’s New Money Back Plan-25 years is a Par, Non-Linked, Life
Individual Savings plan which offers an attractive combination
of protection against death throughout the term of the plan
along with the periodic payment on survival at specified
durations during the term. This unique combination provides
financial support for the family of the deceased policyholder
any time before maturity and lump sum amount at the time
of maturity for the surviving policyholders. This plan also
takes care of liquidity needs through its loan facility.
This Plan can be purchased Offline through Licensed agents,
Corporate agents, Brokers and Insurance Marketing Firms.
KEY FEATURES:
• The plan provides for protection and savings.
• Payment of Survival Benefits at specified Policy
durations.
• Option to enhance coverage by opting for Rider
Benefits on payment of additional premium for the
rider benefits.
• Benefit of attractive High Sum Assured Rebate.
• Option to receive Death Benefit in lumpsum or
instalments as per needs.
• Takes care of liquidity needs through loan facility.
1. Eligibility conditions and other Restrictions:

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) Policy Term 25 years
e) Premium Paying Term 20 years
f) Minimum Basic Sum Rs. 200,000
Assured
g) Maximum Basic Sum No Limit
Assured
(The Basic Sum Assured shall be in multiples of Rs. 25000/-)
Date of commencement of risk under the plan:

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 I Risk will commence immediately on acceptance of the risk.
Date of vesting under the plan:
If the policy is issued on the life of a minor, the policy
shall automatically vest in the Life Assured on the policy
anniversary coinciding with or immediately following the
completion of 18 years of age and shall on such vesting be
deemed to be a contract between the Corporation and the
Life Assured.
2. Benefits
A. Death benefit:
Death benefit payable in case of death of the Life Assured
during the policy term provided the policy is in-force shall
be (i.e. all due premiums have been paid), “Sum Assured
on Death” along with vested Simple Reversionary Bonuses
and Final Additional Bonus, if any. Where “Sum Assured
on Death” is defined as higher of 125% of the Basic Sum
Assured or 7 times of annualized premium. This death
benefit shall not be less than 105% of the total premiums
paid upto the date of death. Where
i. “Annualized Premium” shall be the premium payable in
a year, excluding the taxes, rider premiums, underwriting
extra premiums and loadings for modal premiums
ii. “Total Premiums Paid” means total of all the premiums
paid under the base product, excluding any extra
premium, and taxes, if collected explicitly.
B) Survival Benefits:
On Life Assured surviving to the end of the specified
durations provided all due premiums have been paid, 15%
of the Basic Sum Assured shall be payable at the end of
each of 5th, 10th, 15th & 20th policy year.
C. Maturity Benefit:
On Life Assured surviving to the end of the policy term,
provided the policy is in-force, “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.
D. Participation in Profits:
The policy shall participate in profits of the Corporation
and shall be entitled to receive Simple Reversionary
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 Bonuses declared as per the experience of the Corporation,
provided the policy is in- force.
In case the premiums are not duly paid, the policy shall
cease to participate in future profits irrespective of
whether or not the policy has acquired paid-up value.
Simple Reversionary Bonuses shall be declared annually at
the end of each financial year. Once declared, they form
part of the guaranteed benefits of the plan on such terms
and conditions as declared by the Corporation.
In the event of policy being surrendered, the
surrender value of vested bonuses, if any, as applicable
on the date of surrender shall be payable.
Final Additional Bonus may also be declared under the
policy in the year when the policy results into a claim
either by death or maturity at such rates and on such terms
as may be declared by the Corporation.Final Additional
Bonus shall not be payable under paid-up policies.
The actual allocation to policyholders, out of the surplus
emerging from the actuarial investigation, shall be in
accordance with provisions in this regard under LIC Act,
1956.
3. Options available:
I. Rider Benefits:
The following three optional riders (or amended version
of these) shall be available under this plan by payment of
additional premium. However, the policyholder can opt
between either of the LIC’s Accidental Death and Disability
Benefit Rider or LIC’s Accident Benefit Rider and/or the
remaining two riders subject to the eligibility as detailed
below:
a) LIC’s Accidental Death and Disability Benefit Rider
(UIN: 512B209V02)
This Rider can be opted for under an in-force policy at
any time within the premium paying term of the Base
plan provided the outstanding premium paying term of
the base plan is atleast 5 years. The benefit cover under
this rider shall be available during the policy term. If
this rider is opted for, in case of accidental death,
the Accident Benefit Sum Assured will be payable in
lumpsum. In case of accidental disability arising due to
accident (within 180 days from the date of accident),

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 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 the portion of Basic
Sum Assured under the base policy which is equal to
Accident Benefit Sum Assured under the policy, shall
be waived. Under the policy on the life of minors,
this rider will be available from the policy anniversary
following completion of age 18 years on receipt of
specific request.
b) LIC’s Accident Benefit Rider (UIN:512B203V03)
This rider can be opted for at any time under an in-
force policy within the premium paying term of the
Base plan provided the outstanding premium paying
term of the base plan is atleast 5 years. The benefit
cover under this rider shall be available only during the
premium paying term. If this rider is opted for, in case
of accidental death, the Accident Benefit Sum Assured
will be payable in lumpsum. Under the policy on the
life of minors, this rider will be available from the policy
anniversary following completion of age 18 years on
receipt of specific request.
c) LIC’s New Term Assurance Rider (UIN: 512B210V02)
This rider is available at inception of the policy only.
The benefit cover under this rider shall be available
during the policy term. If this rider is opted for, an
amount equal to Term Rider Sum Assured on Death
shall be payable on death of the Life Assured during
the policy term.
The premiums under all the life insurance riders put
together shall not exceed 30% of premiums under the
base plan.
The Rider Sum Assured in respect of LIC’s Accident
Benefit Rider shall not exceed three times of Basic Sum
Assured under the Base product. Any benefit arising
under each of all other riders shall not exceed Basic
Sum Assured under the Base product.
For more details on the above riders, refer to the rider
brochure or contact LIC’s nearest Branch Office.
II. 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

5
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 (ie. Net Claim
Amount) can be either in absolute value or as a percentage
of the total claim proceeds payable.
The instalments shall be paid in advance at yearly or
half-yearly or quarterly or monthly intervals, as opted
for, subject to minimum instalment amount for different
modes of payments being as under:
Mode of Instalment Minimum instalment
payment amount
Monthly Rs. 5,000/-
Quarterly Rs. 15,000/-
Half-Yearly Rs. 25,000/-
Yearly Rs. 50,000/-
If the Net Claim Amount is less than the required amount
to provide the minimum instalment amount as per the
option exercised by the Policyholder/Life Assured, the
claim proceeds shall be paid in lumpsum only.
For all the instalment payment options commencing
during the 12 months’ period from 1st May to 30th
April, the interest rate used to arrive at the amount of
each instalment shall be annual effective rate not lower
than the 10 year semi-annual G- Sec yield p.a. minus 2%;
where, the 10 year semi-annual G-Sec yield shall be as at
last trading day of previous financial year. Accordingly, for
the 12 months period commencing from 1st May, 2024
to 30th April, 2025, the applicable interest rate for the
calculation of the instalment amount shall be 5.07% p.a.
effective.
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.
The first payment will be made on the date of maturity
and thereafter, based on the mode of instalment payment
opted for by the policyholder, every month or three
months or six months or annually from the date of
maturity, as the case may be.
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 After the commencement of Instalment payments under
Settlement
Option:
a. If a Life Assured, who has exercised Settlement Option
against Maturity Benefit, desires to withdraw this
option and commute the outstanding instalments, the
same shall be allowed on receipt of written request
from the Life Assured. In such case, the lump sum
amount which is higher of the following shall be paid
and policy shall terminate,
• discounted value of all the future instalments due;
or
• (the original amount for which settlement option
was exercised) less (sum of total instalments already
paid).
b. The applicable interest rate that will be used to
discount the future instalment payments shall be
annual effective rate not exceeding 10 year semi-
annual G-Sec yield p.a.; where, the 10 year semi-
annual G-Sec yield shall be as at last trading day of
previous financial year during which Settlement
Option was commenced. Accordingly, in respect of
all the Settlement Options commenced during the 12
months’ period beginning from 1st May, 2024 to 30th
April, 2025, the maximum applicable interest rate
used for discounting the future instalments shall be
7.07% p.a. effective.
c. After the Date of Maturity, in case of death of the
Life Assured, who has exercised Settlement Option,
the outstanding instalments will continue to be
paid to the nominee as per the option exercised
by the Life Assured and no alteration, whatsoever,
shall be allowed to be made by the nominee.
III. Option to take Death Benefit in instalments:
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 for by the Policyholder/Life Assured (ie. Net Claim

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 Amount) can be either in absolute value or as a percentage
of the total claim proceeds payable.
The instalments shall be paid in advance at yearly or
half-yearly or quarterly or monthly intervals, as opted
for, subject to minimum instalment amount for different
modes of payments being as under:

Mode of Instalment Minimum instalment

payment amount
Monthly Rs. 5,000/-
Quarterly Rs. 15,000/-
Half-Yearly Rs. 25,000/-
Yearly Rs. 50,000/-
If the Net Claim Amount is less than the required amount
to provide the minimum instalment amount as per the
option exercised by the Policyholder/Life Assured, the
claim proceeds shall be paid in lumpsum only.
For all the instalment payment options commencing
during the 12 months’ period from 1st May to 30th
April, the interest rate used to arrive at the amount of
each instalment shall be annual effective rate not lower
than the 10 year semi-annual G- Sec yield p.a. minus 2%;
where, the 10 year semi-annual G-Sec yield shall be as at
last trading day of previous financial year. Accordingly, for
the 12 months period commencing from 1st May, 2024
to 30th April, 2025, the applicable interest rate for the
calculation of the instalment amount shall be 5.07% p.a.
effective.
For exercising option to take Death Benefit in instalments,
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. The death claim
amount shall then be paid to the nominee as per the
option exercised by the Policyholder/Life Assured and no
alteration, whatsoever, shall be allowed to be made by
the nominee
4. Payment of Premiums:
Premiums can be paid regularly at yearly, half-
yearly, quarterly or monthly mode (through NACH
only) or through salary deductions during the
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 premium paying term of the policy.
5. Grace Period:
A grace period of 30 days shall be allowed for payment of
yearly or half-yearly or quarterly premiums and 15 days for
monthly premiums from the date of First unpaid premium.
During this period, the policy shall be considered in-force
with the risk cover without any interruption as per the
terms of the policy. If the premium is not paid before the
expiry of the days of grace, the Policy lapses.
The above grace period will also apply to rider premiums
which are payable along with premium for base policy.
6. Sample Illustrative Premium:
The sample illustrative annual premiums for Basic Sum
Assured of Rs 1 lakh for Standard lives are as under
Age (in years) Premium (in Rs.)
20 Rs. 12,299
30 Rs. 12,573
40 Rs. 13,465
45 Rs. 14,298
The above premium is exclusive of taxes.
7. Rebates:
Mode Rebate
Mode Rebate
Yearly mode 2% of Tabular Premium
Half-yearly mode 1% of Tabular premium
Quarterly, Monthly (NACH) NIL
&Salary deduction

High Sum Assured Rebate (on Premium)

Basic Sum Assured(BSA) Rebate (Rs.)
2, 00,000 to 4,75,000 Nil
5, 00,000 and above 3.00%o B.S.A.
8. Revival:
If premiumis not paid within the grace period then the
policy will lapse. A lapsed policy can be revived within
a period of 5 consecutive complete years from the date
of first unpaid premium but before the Date of Maturity.
The revival shall be effected on payment of all the arrears
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 of premium(s) together with interest (compounding half
yearly) at such rate as may be fixed by the Corporation
from time to time and on satisfaction of Continued
Insurability of the Life Assured on the basis of information,
documents and reports that are already available and any
additional information in this regard if and as may be
required in accordance with the Underwriting Policy of
the Corporation at the time of revival, being furnished by
the Policyholder/Life Assured/Proposer.
The Corporation reserves the right to accept at original
terms, accept with modified terms or decline the revival
of a discontinued policy. The revival of discontinued policy
shall take effect only after the same is approved, accepted
and revival receipt is issued by the Corporation.
The rate of interest applicable for revival under this product
for every 12 months’ period from 1st May to 30th April
shall not exceed 10 year G-Sec yield p.a. compounding
half yearly as at the last trading day of previous financial
year plus 3% or the yield earned on the Corporation’s
Non-Linked, Participating Fund plus 1%, whichever is
higher. For the 12 month’s period commencing from 1st
May, 2024 to 30th April, 2025, the applicable interest rate
shall be 9.50% p.a. compounding half yearly.
The basis for determination of interest rate for policy
revival is subject to change.
Revival of rider(s), if opted for, will only be considered
along with revival of the Base Policy and not in isolation.
9. Paid-up Policy :
If less than one full years’ premiums has been paid and
any subsequent premium be not duly paid , all the benefits
under the policy shall cease after the expiry of grace period
from the date of first unpaid premium and nothing shall be
payable.
If at least one full years’ premiums has been paid
and any subsequent premiums be not duly paid,
on completion of first policy year, the policy shall
not be wholly void, but shall continue as a paid-up
policy till the end of the policy term.
The Sum Assured on Death under the paid-up policy shall be
reduced to such a sum, called Death Paid-up Sum Assured
and shall be equal to Sum Assured on Death multiplied
by the ratio of the total period for which premiums have
already been paid bears to the maximum period for which
the premiums were originally payable. The Death Benefit
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 payable under the paid-up policy, on death of the Life
Assured, shall be Death Paid-Up Sum Assured along with
vested Simple Reversionary Bonuses, if any. This Death
benefit, shall not be less than 105% of total premiums paid
upto the date of death.
The Sum Assured on Maturity under the paid-up policy
shall be reduced to such a sum, called Maturity Paid-
up Sum Assured and shall be equal to [(Sum Assured on
Maturity plus total amount of Survival Benefits payable
under the policy) multiplied by the ratio of the total period
for which premiums have already been paid bears to the
maximum period for which the premiums were originally
payable] less total amount of survival benefits already
paid under the policy. The Maturity Benefit payable under
the paid-up policy, on expiry of the policy term, shall be
Maturity Paid-Up Sum Assured along with vested Simple
Reversionary Bonuses, if any.
The Survival Benefits having already been incorporated in
the calculation of Maturity Paid-up Sum Assured, future
Survival Benefits shall not be payable separately.
A paid-up policy shall not be entitled to participate in
future profits. However, the vested Simple Reversionary
Bonuses, if any, shall remain attached to the paid up policy.
Rider(s) shall not acquire any paid-up value and the rider
benefits cease to apply, if policy is in lapsed condition.
10. Surrender :
The policy can be surrendered after completion of first
policy year provided one full year’s premium(s) has
been paid. However, the policy shall acquire Guaranteed
Surrender Value on payment of atleast two full years’
premiums and Special Surrender Value after completion
of first policy year provided one full year’s premium(s) has
been paid. On surrender of an in-force or paid-up policy,
the Corporation shall pay the Surrender Value equal
to higher of Guaranteed Surrender Value and Special
Surrender Value.
Guaranteed Surrender value payable during the policy
term shall be equal to the total premiums paid (excluding
extra premiums, taxes, if collected explicitly and premiums
for riders, if opted for) multiplied by the Guaranteed
Surrender Value factors applicable to total premiums paid
and then reduced by any survival benefits already paid.
These Guaranteed Surrender Value factors expressed as
percentages will depend on the policy year in which the
policy is surrendered and are as specified below:
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 LIC’s NEW MONEY BACK PLAN - 25 YEARS
Plan No.721
Guaranteed Surrender Value factors applicable to total premiums paid
Policy Year Policy Term 25 Years
1 0.00%
2 30.00%
3 35.00%
4 50.00%
5 50.00%
6 50.00%
7 50.00%
8 51.76%
9 53.53%
10 55.29%
11 57.06%
12 58.82%
13 60.59%
14 62.35%
15 64.12%
16 65.88%
17 67.65%
18 69.41%
19 71.18%
20 72.94%
21 74.71%
22 76.47%
23 78.24%
24 90.00%
25 90.00%

In addition, the surrender value of any vested Simple

Reversionary Bonuses, if any, shall also be payable, which
is equal to vested bonuses multiplied by the Guaranteed
Surrender Value factor applicable to vested bonuses. These
factors will depend on the policy year in which the policy is
surrendered and are as specified as below:
LIC’s NEW MONEY BACK PLAN - 25 YEARS
Plan No.721
Guaranteed Surrender Value factors applicable to vested bonuses
Policy Year Policy Term 25 Years
1 0.00%
2 0.00%
3 15.28%
4 15.42%
5 15.55%
6 15.72%
7 15.93%
8 16.22%
9 16.58%

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 10 17.03%
11 17.58%
12 17.58%
13 17.66%
14 17.85%
15 18.16%
16 18.60%
17 19.18%
18 19.93%
19 20.85%
20 21.99%
21 23.38%
22 25.05%
23 27.06%
24 30.00%
25 35.00%

The Special Surrender Value shall be reviewed annually in

line with IRDAI Master Circular on Life Insurance Products
Ref: IRDAI/ACTL/MSTCIR/MISC/89/6/2024 dated 12th
June, 2024 and any subsequent circulars issued by IRDAI
in this regard.
No surrender value will be available on Rider(s), if any.
Upon payment of Surrender Value, the Policy terminates
and no further benefits shall be payable.
11 Policy Loan:
Loan shall be available, within the surrender value, during
the policy term subject to the following:
i. Loan can be availed under the policy after completion of
first policy year provided one full year’s premium(s) has
been paid.
ii.The maximum loan allowed under the policy, as a
percentage of Surrender Value, shall be as under:
Policy Status Before payment of two After payment of two full
full year’s premiums year’s premiums
Under In-force 50% 75%
policies
Under Paid-up 40% 65%
policies

iii.The rate of loan interest applicable for full loan term,

for the loan to be availed under this policy for every
12 months’ period from 1st May to 30th April shall not
exceed 10 year G-Sec yield p.a. compounding half-yearly

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 as at the last trading date of previous financial year plus
3% or the yield earned on the Corporation’s Non-Linked
Participating fund plus 1%, whichever is higher. For
loan sanctioned during 12 months’ period commencing
from 1st May, 2024 to 30th April, 2025, the applicable
interest rate shall be 9.5% p.a. compounding half-yearly
for entire term of the loan. The basis for determination
of interest rate for Policy Loan is subject to change.
iv. During the policy term, in the event of default in
payment of interest on the due dates and when the
outstanding loan amount along with the interest is to
exceed the Surrender Value, the Corporation would be
entitled to foreclose such policies. Such policies when
being foreclosed shall be entitled to payment of the
difference of Surrender Value and the loan outstanding
amount along with interest, if any.
v. Any outstanding loan along with interest shall be
recovered from the claim proceeds at the time of exit.
12. Forfeiture In Certain Events:
In case it is found that any untrue or incorrect statement is
contained in the proposal, personal statement, declaration
and connected documents or any material information is
withheld, then and in every such case the policy shall be
void and all claims to any benefit by virtue thereof shall be
subject to provisions of Section 45 of the Insurance Act,
1938 as amended from time to time.
13. Termination Of Policy:
The policy shall immediately and automatically terminate
on the earliest occurrence of any of the following events:
a) The date on which lump sum death benefit / final
instalment of death benefit is paid; or
b) The date on which surrender benefits are settled under
the policy; or
c) The date of maturity if settlement option is not
exercised; or
d) On payment of final instalments under Settlement
Option; or
e) In the event of default in payment of loan interest as
specified in Para 11; or
f) On expiry of Revival Period if the policy, which has not

14
 acquired paid-up status, has not been revived within
the revival period; or
g) On payment of free look cancellation amount; or
h) In the event of forfeiture as specified in Para 12 above.
14. Taxes:
Statutory Taxes, if any, imposed on such insurance plans
by the Government of India or any other constitutional Tax
Authority of India, shall be as per the Tax laws and the rate
of tax shall be as applicable from time to time.
The amount of applicable taxes, as per the prevailing rates
shall be payable by the Policyholder on premium(s) (for
base policy and rider(s), if any), including extra premiums,
if any, which shall be collected separately over and above to
the premium(s) payable by the policyholder. The amount
of Tax paid shall not be considered for the calculation of
benefits payable under the plan.
Regarding Income tax benefits/implications on premium(s)
paid and benefits payable under this plan, please consult
your tax advisor for details.
15. Free Look period:
If the Policyholder is not satisfied with the “Terms and
Conditions” of the policy, the policy may be returned to
the Corporation within 30 days from the date of receipt
of the electronic or physical mode of the Policy Document
stating the reasons for objections. On receipt of the
same the Corporation shall cancel the policy and return
the amount of premium deposited after deducting the
proportionate risk premium (for Base policy and rider(s) if
any) for the period of cover, expenses incurred on medical
examination(including special reports, if any) and stamp
duty charges.
16. Exclusion:
Suicide:
i. If the Life Assured (whether sane or insane) commits
suicide at any time within 12 months from the date of
commencement of risk, the Nominee or Beneficiary of
the Life Assured shall be entitled to 80% of the total
premiums paid till the date of death, provided the policy
is in-force.

15
 ii. If the Life Assured (whether sane or insane) commits
suicide within 12 months from date of revival, an amount
which is higher of 80% of the total premiums paid till the
date of death or the surrender value available as on date
of death shall be payable. The Nominee or Beneficiary of
the Life Assured shall not be entitled to any other claim
under the policy.
This clause shall not be applicable for a policy lapsed without
acquiring paid-up value and nothing shall be payable under
such policies.
Note: Premiums referred above shall not include any taxes, if
collected explicitly extra premiums and any rider premium,
other than Term Assurance rider, if any.
17. Benefit Illustration:

Distribution Channel Offline

Name of the Prospect/Policy
holder:
Age:
Name of life assured:
Age: 30
Policy Term: 25
Premium Payment Term: 20
Amount of Instalment premium 12573.00
(Instalment Premi-
Mode of payment of premium Yearly um for base plan)

Proposal No:

Name of the Product: LIC’s New Money Back Plan - 25 Years

Tag Line: A Par, Non-Linked, Life, Individual
Savings Plan
Unique Identification no:
GST Rate (1st Year): 4.50%
GST Rate (2nd Year 2.25%
onwards):
NOTE: GST rate shall be as applicable from time to time

How to read and understand this benefit illustration?

This benefit illustration is intended to show year-wise
premiums payable and benefits under the policy, at two
assumed rates of interest i.e., 8% p.a. and 4% p.a.Some
benefits are guaranteed and some benefits are variable
with returns based on the future performance of your
16
 insurer carrying on life insurance business. If your policy
offers guaranteed benefits then these will be clearly
marked “guaranteed” in the illustration table on this page.
If your policy offers variable benefits, then the illustrations
on this page will show two different rates of assumed
future investment returns of 8% p.a. and 4% p.a. These
assumed rates of return are not guaranteed and they are
not the upper or lower limits of what you might get back,
as the value of your policy is dependent on a number of
factors including future investment performance.
Policy Details
Policy Op- Basic Sum Assured 2,00,000
tion Rs.
Bonus Type Simple Rever- Sum Assured on 2,50,000
sionary and Final Death (at inception
Additional Bonus of the policy) Rs.

Premium Summary
Base Plan Riders 1 Total Instalment
Premium
Instalment Premium
12573.00 12573.00
without GST
Instalment Premium
13139.00 13139.00
with First Year GST
Instalment Premium
with GST 2nd Year 12855.89 12855.89
Onwards

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 (Amount in Rupees)
Total Benefits
Non-Guaranteed Benefits @ 4% Non-Guaranteed Benefits @ (Including Guaranteed and Non-Guaranteed Benefits)
Guaranteed Benefits
p.a. 8% p.a.
Maturity Benefit Death Benefit 4
Policy Annual-
"Total Matu- "Total Matu- "Total Death "Total Death
Year ized2 Total Total
rity Benefit, rity Benefit, Benefit, Incl Benefit, Incl
(End Premium Guaran- Guar- Special Guar- Special
Ma- “Rever- Surren- Rever- Surren- Incl of Final Incl of Final of Final Addi- of Final Addi-
of the (Cumula- Survival teed Sur- Death anteed Sur- anteed Sur-
turity sionary der sionary der Additional Additional tional Bonus tional Bonus
year) tive) Benefit render Benefit Sur- render Sur- render
Benefit Bonus” Benefit Bonus Benefit Bonus (FAB), Bonus (FAB), (FAB),If any, (FAB),If any,
Value render Value 3
render Value 3
If any, @ 4% If any, @ 8% @ 4% @ 8%
Value3 Value3
(6+7+FAB)" (6+11+FAB)" (5+7+FAB)" (5+11+FAB)"
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18
1 12573 0 0 250000 0 1400 0 1951 1951 6000 0 1951 1951 0 0 251400 256000
2 25146 0 7544 250000 0 2800 7544 4173 7544 12000 7544 4173 7544 0 0 252800 262000
3 37719 0 13202 250000 0 4200 13844 7590 13844 18000 15952 10536 15952 0 0 254200 268000
4 50292 0 25146 250000 0 5600 26010 10827 26010 24000 28847 15035 28847 0 0 255600 274000
5 62865 30000 31433 250000 0 7000 32522 14487 32522 30000 36098 20124 36098 0 0 257000 280000
6 75438 0 7719 250000 0 8400 9039 0 9039 36000 13378 0 13378 0 0 258400 286000
7 88011 0 14006 250000 0 9800 15567 0 15567 42000 20697 2264 20697 0 0 259800 292000
8 100584 0 22062 250000 0 11200 23879 0 23879 48000 29848 9487 29848 0 0 261200 298000
9 113157 0 30573 250000 0 12600 32662 4188 32662 54000 39526 17561 39526 0 0 262600 304000
10 125730 30000 39516 250000 0 14000 41900 10648 41900 60000 49734 26569 49734 0 0 264000 310000
11 138303 0 18916 250000 0 15400 21623 0 21623 66000 30519 6635 30519 0 0 265400 316000
12 150876 0 28745 250000 0 16800 31698 0 31698 72000 41403 17824 41403 0 0 266800 322000
13 163449 0 39034 250000 0 18200 42248 4770 42248 78000 52809 30251 52809 0 0 268200 328000
14 176022 0 49750 250000 0 19600 53249 14659 53249 84000 64744 44077 64744 0 0 269600 334000
15 188595 30000 60927 250000 0 21000 64741 25606 64741 90000 77271 59396 77271 0 0 271000 341000
16 201168 0 42529 250000 0 22400 46695 7738 46695 96000 60385 46386 60385 0 0 272400 347000
17 213741 0 54596 250000 0 23800 59161 21152 59161 102000 74160 65186 74160 0 0 273800 354000
18 226314 0 67085 250000 0 25200 72107 35984 72107 108000 88609 85995 88609 0 0 275200 361000
19 238887 0 80040 250000 0 26600 85586 52371 85586 114000 103809 109006 109006 0 0 276600 368000
20 251460 30000 93415 250000 0 28000 99572 70517 99572 120000 119803 134512 134512 0 0 278000 375000
21 251460 0 67866 250000 0 29400 74740 53032 74740 126000 97325 125192 125192 0 0 279400 382000
22 251460 0 72291 250000 0 30800 80006 66595 80006 132000 105357 147818 147818 0 0 280800 391000
23 251460 0 76742 250000 0 32200 85455 81369 85455 138000 114085 172674 172674 0 0 282200 400000
24 251460 0 106314 250000 0 33600 116394 97451 116394 144000 149514 199968 199968 0 0 283600 409000
25 251460 0 106314 250000 80000 35000 118564 115000 118564 150000 158814 250000 250000 115000 250000 285000 420000

Notes: IRDAI Master Circular on Life Insurance Products, Ref: No. IRDAI/
The main objective of the illustration is that the client is able to ACTL/MSTCIR/MISC/89/6/2024 dated 12th June, 2024 and any
appreciate the features of the products and the flow of the benefit subsequent circulars issued by IRDAI in this regard. For surrender
in different circumstances with some level of quantification. value calculation, it is assumed that the bonuses shall vest upon
This illustration is applicable to a standard (from medical, life style its declaration based on experience of the Corporation under this
and occupation point of view) life. product, in the manner as per the terms and conditions of annual
1. It includes rider(s) premiums in respect of all the rider(s) opted valuation results.
by the proposer / policyholder at inception of the policy. 4. In any case the total death benefit during the Policy Term shall
2. Annualized Premium excludes underwriting extra premium, not be less than 105% of the total premiums paid (excluding GST,
frequency loadings on premiums, the premiums paid towards the extra premium and rider premiums, if any).
riders, if any, and Goods & Service Tax. Refer Sales literature for
explanation of terms used in this illustration. -The actual allocation to policyholders, out of the surplus emerging
3. Surrender value is higher of Guaranteed Surrender Value (GSV) from the actuarial investigation, shall be in accordance with
and Special Surrender Value (SSV). SSV shall be reviewed in line with provisions in this regard under LIC Act, 1956.

18 19
18.Grievance Redressal Mechanism:
Of the Corporation:
The Corporation has Grievance Redressal Officers
(GROs) at Branch/ Divisional/ Zonal/ Central Office to
redress grievances of customers. The customers can
visit our website(https://licindia.in/web/guest/grievances)
for names and contact details of the GROs and other
information related to grievances.
For ensuring quick redressal of customer grievances
the Corporation has introduced Customer friendly
Integrated Complaint Management System through our
Customer Portal (website) http://www.licindia.in, where
a registered policy holder can directly register complaint/
grievance and track its status. Customers can also contact
at e-mail id [email protected] for redressal of
any grievances.
Claimants not satisfied with the decision of death claim
repudiation have the option of referring their cases for
review to Zonal Office Claims Dispute Redressal Committee
or Central Office Claims Dispute Redressal Committee. A
retired High Court/ District Court Judge is member of each
of the Claims Dispute Redressal Committees.
Of IRDAI:
In case the customer is not satisfied with the response or
do not receive the response from us within 15 days, then
the customer may approach the Policyholder’s Protection
and Grievance Redressal Department through any of the
following modes:
i) Calling Toll Free Number 155255/18004254732(i.e.
IRDAI Grievance Call Centre-(BIMA BHAROSA SHIKAYAT
NIVARAN KENDRA))
ii) Sending an email to [email protected]
iii)Register the complaint online at https://bimabharosa.
irdai.gov.in
iv)Address for sending the complaint through courier/
letter: General Manager, Policyholders Protection
and Grievance Redressal Department, Insurance
Regulatory and Development Authority of India,
Survey No. 115/1, Financial District, Nanakramguda,
Gachibowli, Hyderabad-500032, Telangana.
Of Ombudsman:
For redressal of Claims related grievances, claimants can
20
 also approach Insurance Ombudsman who provides for
low cost and speedy arbitration to customers.
SECTION 45 OF THE INSURANCE ACT, 1938
The provision of Section 45 of the Insurance Act, 1938 shall
be as amended from time to time. The current provision
is as under:
(1) No policy of life insurance shall be called in question
on any ground whatsoever after the expiry of three years
from the date of the policy, i.e. from the date of issuance
of the policy or the date of commencement of risk or the
date of revival of the policy or the date of the rider to the
policy, whichever is later.
(2) A policy of life insurance may be called in question at
any time within three years from the date of issuance of
the policy or the date of commencement of risk or the
date of revival of the policy or the date of the rider to the
policy, whichever is later on the ground of fraud:
Provided that the insurer shall have to communicate
in writing to the insured or the legal representatives or
nominees or assignees of the insured the grounds and
materials on which such decision is based.
Explanation I- For the purposes of this sub-section,
the expression “fraud” means any of the following acts
committed by the insured or by his agent, with the intent
to deceive the insurer or to induce the insurer to issue a
life insurance policy:-
(a) the suggestion, as a fact of that which is not true and
which the insured does not believe to be true;
(b) the active concealment of a fact by the insured having
knowledge or belief of the fact;
(c) any other act fitted to deceive; and
(d) any such act or omission as the law specially declares
to be fraudulent.
Explanation II- Mere silence as to facts likely to affect the
assessment of the risk by the insurer is not fraud, unless
the circumstances of the case are such that regard being
had to them, it is the duty of the insured or his agent,
keeping silence to speak, or unless his silence is, in itself,
equivalent to speak.
(3) Notwithstanding anything contained in subsection
(2), no insurer shall repudiate a life insurance policy on
the ground of fraud if the insured can prove that the
misstatement of or suppression of a material fact was
true to the best of his knowledge and belief or that there
21
was no deliberate intention to suppress the fact or that
such misstatement of or suppression of a material fact are
within the knowledge of the insurer:
Provided that in case of fraud, the onus of disproving lies
upon the beneficiaries, in case the policyholder is not
alive.
Explanation – A person who solicits and negotiates a
contract of insurance shall be deemed for the purpose
of the formation of the contract, to be the agent of the
insurer.
(4) A policy of life insurance may be called in question at
any time within three years from the date of issuance of
the policy or the date of commencement of risk or the date
of revival of the policy or the date of the rider to the policy,
whichever is later, on the ground that any statement of or
suppression of a fact material to the expectancy of the
life of the insured was incorrectly made in the proposal
or other document on the basis of which the policy was
issued or revived or rider issued:
Provided that the insurer shall have to communicate
in writing to the insured or the legal representatives or
nominees or assignees of the insured the grounds and
materials on which such decision to repudiate the policy
of life insurance is based:
Provided further that in case of repudiation of the policy
on the ground of misstatement or suppression of a
material fact, and not on the ground of fraud the premiums
collected on the policy till the date of repudiation shall
be paid to the insured or the legal representatives or
nominees or assignees of the insured within a period of
ninety days from the date of such repudiation.
Explanation - For the purposes of this sub-section, the
misstatement of or suppression of fact shall not be
considered material unless it has a direct bearing on the
risk undertaken by the insurer, the onus is on the insurer
to show that had the insurer been aware of the said fact
no life insurance policy would have been issued to the
insured.
(5) Nothing in this section shall prevent the insurer from
calling for proof of age at any time if he is entitled to do
so, and no policy shall be deemed to be called in question
merely because the terms of the policy are adjusted on
subsequent proof that the age of the life insured was
incorrectly stated in the proposal.

22
PROHIBITION OF REBATES (SECTION 41 OF THE INSURANCE
ACT, 1938):
No person shall allow or offer to allow, either directly or
indirectly, as an inducement to any person to take out or
renew or continue an insurance in respect of any kind
of risk relating to lives or property in India, any rebate
of the whole or part of the commission payable or any
rebate of the premium shown on the policy, nor shall
any person taking out or renewing or continuing a policy
accept any rebate, except such rebate as may be allowed
in accordance with the published prospectuses or tables
of the insurer.
2) Any person making default in complying with the
provisions of this section shall be liable for a penalty
which may extend to ten lakh rupees.

Various Sections of the Insurance Act, 1938, applicable

to LIC to apply as amended from time to time.

This product brochure gives only salient features of

the plan. For further details please refer to the Policy
document on our website www.licindia.in or contact
our nearest Branch Office.

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS

/ FRAUDULENT OFFERS
IRDAI or its officials do not involve in any activities
of insurance business like selling insurance policies,
announcing bonus or investment of premiums, refunds
of amounts. Policyholders or the prospects receiving
such phone calls are requested to lodge a police
complaint.

LIFE INSURANCE CORPORATION OF INDIA

“Life Insurance Corporation of India” was established
on 1st September, 1956 under Life Insurance
Corporation Act, 1956, with the objective of
spreading life insurance more widely, in particular to
the rural areas with a view to reaching all insurable
persons in the country and providing them adequate
financial cover against insured events. LIC continues
to be the important life insurer even in the liberalized
scenario of Indian insurance and is moving fast on
a new growth trajectory surpassing its own past
records. In its existence of over six decades, LIC has
grown from strength to strength in various areas of
operation.

23
 Registered Office:
Life Insurance Corporation of India
Central Office,
Yogakshema, Jeevan Bima Marg, Mumbai – 400021.
Website: www.licindia.in
Registration Number: 512

24