Eligibility Criteria:
Minimum | Maximum | |
Basic Sum Assured | 5,00,000 | No Limit (in multiple of 25,000) |
Age at Entry | 5 years (Completed) for Policy Term 15 years | 55 years (Age Nearer Birthday) for Policy Term 15 years |
Policy Term | 15 years, 20 years and 25 years | |
Premium Payment Term | 11 years for Policy Term 15 years | |
Age at Maturity | 20 years (Completed) for Policy Term 15 & 20 years | 70 years (Age Nearer Birthday) |
Premium Payment Mode: Yearly, Half-Yearly, Quarterly or Monthly intervals (monthly premiums through NACH only) or through Salary deductions
Riders Available:
LIC’s Accidental Death and Disability Rider
LIC’s Accident Benefit Rider
LIC’s New Term Insurance Rider
LIC’s Premium Waiver Benefit Rider
Date of Commencement of Risk:
The age at entry of the Life Assured is less than 8 years : Risk will commence either 2 years from the date of commencement or from the policy anniversary coinciding with or immediately following the attainment of 8 years of age, whichever is earlier
For those aged 8 years or more à Risk will commence immediately
Guaranteed Additions:
From the 1st to 5th year : LIC will pay guaranteed additions of ₹50 per ₹1000 basic sum assured
From the 6th to the 10th policy year : LIC will pay ₹55 per ₹1000 basic sum assured
From the 11th to 25th policy year : LIC will pay ₹60 per ₹1000 basic sum assured
Survival Benefit:
Policy Term (in years) | Payment of Survival Benefit |
15 | 25% of the Basic Sum Assured at the end of each of 13th and 14th policy year |
20 | 25% of the Basic Sum Assured at the end of each of 18th and 19th policy year |
25 | 25% of the Basic Sum Assured at the end of each of 23rd and 24th policy year |
Maturity Benefit:
50% of Basic Sum Assured with Accrued Guaranteed Additions will be payable.
Death Benefit:
Sum Assured (higher of 125% of Basic Sum Assured or 7 times of Annualized Premium) on Maturity along with Accrued Guaranteed Additions. The death benefir payment shall not be less than 105% of total premiums paid upto the date of death.
Other Benefits: