Insurance Plans

Endowment Plan

  • Single Premium Endowment Plan

  • LIC's SINGLE PREMIUM ENDOWMENT PLAN (UIN: 512N283V01)

    Death Benefit:

    a) On death during the policy term before the date of commencement of risk: Return of single premium excluding service tax and extra premium, if any, without interest.

    b) On death during the policy term after the date of commencement of risk: Sum Assured along with vested Simple Revisionary Bonuses and Final Additional Bonus, if any.

    Maturity Benefit:

    Sum Assured, along with vested Simple Revisionary Bonuses and Final Additional Bonus, if any, shall be payable.

    Participation in profits:

    The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Revisionary Bonuses declared as per the experience of the Corporation.

    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 on such terms and conditions as may be declared by the Corporation from time to time.

  • New Endowment Plan

  • LIC's NEW ENDOWMENT PLAN (UIN: 512N277V01)

    In case of death during the policy term provided all due premiums have been paid Death benefit, defined as sum of "Sum Assured on Death" and vested Simple Revisionary Bonuses and Final Additional bonus, if any, shall be payable. Where, "Sum Assured on Death" is defined as higher of Basic Sum Assured or 10 times of annualized premium. This death benefit shall not be less than 105% of all the premiums paid as on date of death.

    Where premiums exclude service tax, extra premium and rider premiums, if any.

    Maturity Benefit:

    Basic Sum Assured, along with vested simple revisionary bonuses and Final Additional bonus, if any, shall be payable in lump sum on Survival to the end of the policy term provided all due premiums have been paid.

    Participation in Profits:

    The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Revisionary Bonuses declared as per the experience of the Corporation, provided the policy is in full force.

    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, provided the policy has run for certain minimum term.

    1, Optional Benefit:

    LIC's Accidental Death and Disability Benefit Rider: LICs Accidental Death and Disability Benefit Rider is available as an optional rider by payment of additional premium.

  • New Jeevan Anand

    LIC's NEW JEEVAN ANAND (UIN: 512N279V01)

    Death benefit :

    Provided all due premiums have been paid, the following death benefit shall be paid:

    The premiums mentioned above exclude service tax, extra premium and rider premiums, if any.

    a) On Death during the policy term: Death benefit, defined as sum of "Sum Assured on Death" and vested Simple Revisionary Bonuses and Final Additional bonus, if any, shall be payable. Where, "Sum Assured on Death" is defined as higher of 125% of Basic Sum Assured or 10 times of annualized premium. This death benefit shall not be less than 105% of all the premiums paid as on date of death.

    The premiums mentioned above exclude service tax, extra premium and rider premiums, if any.

    b) On death of policyholder at any time after policy term: Basic Sum Assured

    Benefits payable at the end of Policy Term:

    Basic Sum Assured, along with vested Simple Revisionary Bonuses and Final Additional Bonus, if any, shall be payable in lump sum on survival to the end of the policy term provided all due premiums have been paid.

    Participation in Profits :

    The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Revisionary Bonuses declared as per the experience of the Corporation during policy term provided the policy is in full force.

    Final (Additional) Bonus may also be declared under the plan in the year when the policy results into death claim during the policy term or due for the survival benefit payment provided the policy is in full force and has run for certain minimum term.

    2. Optional Benefit:

    LIC's Accidental Death and Disability Benefit Rider: LIC's Accidental Death and Disability Benefit Rider is available as an optional rider by payment of additional premium during the policy term.

    Money Back Plans

    LIC's NEW MONEY BACK PLAN - 20 YEARS (UIN:512N280V01)

    1, Benefits:

    Death benefit:

    On death during the policy term provided the policy is in full force, death benefit, defined as sum of “Sum Assured on Death” and vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable. Where,“Sum Assured on Death” is defined as higher of 125% of the Basic Sum Assured or 10 times of annualized premium. This death benefit shall not be less than 105% of the total premiums paid as on date of death.

    The premiums mentioned above exclude tax, extra premium and rider premium, if any.

    Survival Benefits:

    In case of Life Assured surviving to the end of the specified durations 15% of the Basic Sum Assured at the end of each of 5th, 10th, 15th & 20th policy year.

    Maturity Benefit:

    In case of Life assured surviving the stipulated date of maturity, 40% of the Basic Sum Assured along with vested Simple Reversionary Bonuses and Final Additional bonus, if any, shall be payable.

    Participation in Profits:

    The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation, provided the policy is in full force. 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 provided the policy has run for certain minimum term.

    1, Optional Benefit:

    LIC's Accidental Death and Disability Benefit Rider:

    LIC's Accidental Death and Disability Benefit Rider can be opted for under an inforce policy at any time within the premium paying term by payment of additional premium and the cover will be available throughout the policy term provided the Policy is inforce for the full Sum Assured as on date of accident.

  • LIC's NEW BIMA BACHAT (UIN: 512N284V01)

  • a) Benefits:

    Death benefit:

    On death during the first five policy years: Sum Assured. On death after completion of five policy years: Sum Assured along with Loyalty Addition, if any.

    b) Survival Benefits:

    Payable as given below in case of Life Assured surviving to the end of the specified durations:

    For policy term 9 years: 15% of the Sum Assured at the end of each of 3rd & 6th policy year

    For policy term 12 years: 15% of the Sum Assured at the end of each of 3rd, 6th & 9th policy year

    For policy term 15 years: 15% of the Sum Assured at the end of each of 3rd, 6th, 9th & 12th policy year

    c) Maturity Benefit:

    Payment of Single Premium (excluding taxes and extra premium, if any) along with Loyalty Addition, if any, in case of Life Assured surviving to the end of the policy term.

    d) Loyalty Addition

    Depending upon the Corporation's experience the policies shall be participate in the profits and shall be eligible for Loyalty Addition. The Loyalty Addition, if any, is payable on death after completion of five policy years and on policyholder surviving to maturity, at such rate and on such terms as may be declared by the Corporation

    Term Assurance Plan

  • LIC's Anmol Jeevan - II Plan (UIN:512N285V01 )

  • Death Benefit:

    In case of unfortunate death of the Life Assured during the policy term Sum Assured shall be payable.

    Maturity Benefit:

    On survival to the end of the policy term, nothing shall be payable.

  • LIC's Amulya Jeevan - II Plan (UIN:512N286V01)

  • Death Benefit

    In case of unfortunate death of the Life Assured during the policy term Sum Assured shall be payable.

    Maturity Benefit:

    On survival to the end of the policy term, nothing shall be payable.