It is a limited premium payment with profit endowment insurance plan which offers attractive returns. Policy can be availed with duration of 16 years, 21 Years and 25 Years and can be taken any person between the age group of 8 years to 59 years.
Eligibility Criteria
| Minimum | Maximum | |
| Entry Age | 8 Years (Completed) | 59 Years (nearer birthday) for Term 16 Years |
| 54 Years (nearer birthday) for Term 21 Years | ||
| 50 Years (nearer birthday) for Term 25 Years | ||
| Term / PPT | 16/10, 21/15 & 25/16 | |
| Sum Assured | ₹ 2,00,000/- | No Limit |
Premium Modes
Yearly, Half-Yearly, Quarterly and Monthly (NACH only) or through salary deductions (SSS).
Riders Available
LIC’s Premium Waiver Benefit Rider
LIC’s Accident Benefit Rider
LIC’s New Term Assurance Rider
LIC’s Premium Waiver Benefit Rider
Death Benefit
On death of the Life Assured during the Policy Term, Sum Assured on Death alongwith Guaranteed Additions vested Simple Reversionary bonuses and Final Additional bonus (if any), where “Sum Assured on Death” is defined as higher of Basic Sum Assured or 7 times of annualised premium.
This Death Benefit shall not be less than 105% of total premiums paid upto the date of death. Where,
1. “Annualized Premium” shall be the premium amount payable in a year, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums.
2. “Total Premiums Paid” means total of all the premiums paid under the base product, excluding any extra premium, and taxes, if collected explicitly.
Maturity Benefit
On the life assured surviving to the end of the policy term, provided all due premiums have been paid, “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 Basic Sum Assured.
Loan Facility is available after completion of first policy year provided one full year’s premium has been paid.
Option to Surrender the Policy
The policy can be surrendered by the policyholder after completion of first policy year provided atleast 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.