LICI Product Details

8/9/2019 LICI Product Details

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INFORMATION TO BE PROVIDED IN SALES BROCHURE

LICs JEEVAN SHAGUN (UIN: 512N290V01)

(Since discontinued w.e.f. 29.11.2014)

LICs Jeevan Shagun is a participating, non-linked, savings cum protection single premium planwherein the risk cover is a multiple of single premium.The proposer will have an option to choose the Maturity Sum Assured. The single premiumpayable (exclusive of service tax) shall depend on the chosen amount of Maturity Sum Assuredand age of the life assured.A percentage of Maturity Sum Assured shall be payable on surviving to the end of the specifieddurations and on maturity. This plan also takes care of liquidity need through its loan facility.The plan will be open for sale for a maximum period of 90 days from the date of launch.

1. BENEFITS:

a) Death Benefit:Ondeathduringfirstfivepolicyyears:Basic Sum assured i.e. 10 times the tabular single premium shall be payable.

Ondeathaftercompletionoffivepolicyyears:Basic Sum assured i.e. 10 times the tabular single premium along with Loyalty Addition, ifany, shall be payable.

b) Survival Benefit: On Life Assured surviving to the end of the specified durations, thefollowing Survival benefit shall be payable.

At the end of 10th policy year: 15% of the Maturity Sum Assured. At the end of 11th policy year: 20% of the Maturity Sum Assured.

c) Maturity Benefit:On maturity, 65% of the Maturity Sum Assured along with Loyalty Addition, if any, shallbe payable.

d) Loyalty Addition:Depending upon the Corporations experience, a policy shall participate in the profits inthe form of Loyalty Addition. The Loyalty Addition, if any, shall be payable on death orsurrender, provided the policy has run for atleast five policy years, or on policyholder

surviving to the maturity, at such rate and on such terms as may be declared by theCorporation.

2. ELIGIBILITY CONDITIONS AND OTHER RESTRICTIONS:a) Minimum Entry Age : 8 years (completed)b) Maximum Entry Age : 45 years (nearest birthday)c) Minimum/Maximum Basic Sum Assured : 10 times of tabular single premium paid

d) Minimum Maturity Sum Assured : Rs. 60,000/-e) Maximum Maturity Sum Assured : No Limit

Maturity Sum Assured shall be available in multiples of Rs. 5,000/-. f)

Policy Term : 12 yearsg) Premium payment mode : Single premium only


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3. SAMPLE PREMIUM RATES:Specimen tabular Single Premium rates for some of the ages per Rs.1000/- Maturity SumAssured are as under:

Age at entry(Nearest Birthday)

Tabular Single PremiumRates (Rs.)

10 494.95

20 508.20

30 521.25

40 595.40

Note: Tabular premiums do not include any extra premium or taxes and is before applyinghigh Maturity Sum Assured rebate.

4. REBATE FOR HIGH MATURITY SUM ASSURED:

Maturity Sum Assured Reduction in Tabular premium per1000/- Maturity Sum Assured

Below Rs.150,000 NilRs.150,000 to Rs. 395,000 Rs. 15

Rs.4,00,000 and above Rs. 20

5. LOAN:Loan can be availed under this plan any time after completion of one policy year and subject to terms and conditions as the Company may specify from time to time.

6. SURRENDER VALUE:The policy can be surrendered for cash at any time during the policy term. The minimumGuaranteed Surrender Value allowable shall be as under:

o First year: 70% of the Single premium excluding extra premiums and taxes, if any. o Thereafter: 90% of the Single premium excluding taxes, any extra premium paid and

survival benefits, if paid earlier.

The Corporation shall pay Special Surrender Value as applicable as on date of surrenderprovided the same is higher than Guaranteed Surrender Value.

If the policy is surrendered after completion of five policy years Loyalty Addition, if any,based on surrender value, shall also be payable.

7. Tax:Taxes, including Service Tax, shall be as per the Tax laws and the rate of tax shall be asapplicable from time to time.The amount of tax as per the prevailing rates shall be payable by the policyholder on singlepremium including extra premium, if any. The amount of Tax paid shall not be considered forthe calculation of benefits payable under the plan.

8. COOLING- OFF PERIOD:If the Policyholder is not satisfied with the Terms and Conditions of the policy, the policymay returned to the Corporation within 15 days from the date of receipt of the policy stating


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the reason of objections. On receipt of the same the Corporation shall cancel the policy and

return the amount of single premium deposited after deducting the proportionate riskpremium for the period on cover, stamp duty charges and any charges incurred on medicalexamination and special reports.

9. EXCLUSIONS:

The policy shall be void if the Life Assured (whether sane or insane at the time) commits suicide at any time within 12 months from the date of commencement of risk and theCorporation will not entertain any claim under this policy except to the extent of 90% of thesingle premium paid excluding taxes and any extra premium paid.

Benefit Illustration:Statutory warningSome benefits are guaranteed and some benefits are variable with returns based on the futureperformance of your life insurance company. If your policy offers guaranteed returns then these will beclearly marked guaranteed in the illustration table on this page. If your policy offers variable returnsthen the illustrations on this page will show two different rates of assumed investment returns. These

assumed rates of return are not guaranteed and they are not upper or lower limits of what you might getback as the value of your policy is dependant on a number of factors including future investmentperformance.

Benefit Illustration

LIC's Jeevan Shagun

Age At Entry 30

Policy Term 12

UIN :512N290V01

Mode Of premiumpayment

Single

Single Premium (Rs.) 31275

Maturity Sum

Assured60000

Basic Sum assured 312750

End Of Policy YearTotalPremiumPaid tillend ofyear

Amount Payable on Death

Guaranteed Variable Total

Scenario 1 Scenario 2 Scenario 1 Scenario 2

1 31275 312750 0 0 312750 3127502 31275 312750 0 0 312750 3127503 31275 312750 0 0 312750 3127504 31275 312750 0 0 312750 3127505 31275 312750 0 0 312750 3127506 31275 312750 0 0 312750 3127507 31275 312750 0 0 312750 3127508 31275 312750 0 0 312750 3127509 31275 312750 0 0 312750 31275010 31275 312750 0 0 312750 31275011 31275 312750 0 0 312750 31275012 31275 312750 0 0 312750 312750


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End Of Policy Year

TotalPremiumPaid tillend ofyear

Amount Payable on Maturity

Guaranteed Variable Total

Scenario 1 Scenario 2 Scenario 1 Scenario 2

1 31275 0 0 0 0 02 31275 0 0 0 0 03 31275 0 0 0 0 04 31275 0 0 0 0 05 31275 0 0 0 0 06 31275 0 0 0 0 07 31275 0 0 0 0 08 31275 0 0 0 0 09 31275 0 0 0 0 010 31275 9000 0 0 9000 900011 31275 12000 0 0 12000 1200012 31275 39000 0 0 39000 39000

Notes:

i) The single premium shown above is exclusive of service tax.

ii) This illustration is applicable to a standard (from medical, life style and occupation point of view) life.

iii) The non-guaranteed benefits (1) and (2) in above illustration are calculated so that they are consistentwith the Projected Investment Rate of Return assumption of 4% p.a. (Scenario 1) and 8% p.a.(Scenario 2) respectively. In other words, in preparing this benefit illustration, it is assumed that theProjected Investment Rate of Return that LICI will be able to earn throughout the term of the

policy will be 4% p.a. or 8% p.a., as the case may be. The Projected Investment Rate of Return is notguaranteed.

iv) Under Scenario 1 and 2 where interest rate earned by the Corporation is assumed to be 4% and 8% p.a. respectively throughout the term, the projected Loyalty Addition is nil.

v) The main objective of the illustration is that the client is able to appreciate the features of the productand the flow of benefits in different circumstances with some level of quantification.

SECTION 45 OF INSURANCE ACT, 1938:No policy of life insurance shall after the expiry of two years from the date on which it waseffected, be called in question by an insurer on the ground that a statement made in theproposal for insurance or in any report of a medical officer, or referee, or friend of the insured,or in any other document leading to the issue of the policy, was inaccurate or false, unless theinsurer shows that such statement was on a material matter or suppressed facts which it wasmaterial to disclose and that it was fraudulently made by the policyholder and that thepolicyholder knew at the time of making it that the statement was false or that it suppressedfacts which it was material to disclose.

Provided that nothing in this section shall prevent the insurer from calling for proof of age atany time if he is entitled to do so, and no policy shall be deemed to be called in question merelybecause the terms of the policy are adjusted on subsequent proof that the age of the life assuredwas incorrectly stated in the proposal.


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SECTION 41 OF INSURANCE ACT 1938(1) No person shall allow or offer to allow, either directly or indirectly, as an inducement to anyperson to take out or renew or continue an insurance in respect of any kind of risk relating to lives orproperty in India, any rebate of the whole or part of the commission payable or any rebate of thepremium 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 ortables of the insurer: provided that acceptance by an insurance agent of commission in connection witha policy of life insurance taken out by himself on his own life shall not be deemed to be acceptance of arebate of premium within the meaning of this sub-section if at the time of such acceptance the insuranceagent satisfies the prescribed conditions establishing that he is a bona fide insurance agent employed bythe insurer.

(2) Any person making default in complying with the provisions of this section shall be punishable withfine which may extend to five hundred rupees.

Note: Conditions apply for which please refer to the Policy document or contact our nearestBranch Office.

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS

IRDA clarifies to public that

IRDA or its officials do not involve in activities like sale of any kind of insurance orfinancial products nor invest premiums.

IRDA does not announce any bonus.

Public receiving such phone calls are requested to lodge a police compliant along with details ofphone call, number.

Insurance is the subject matter of solicitation.

Registered Office:Life Insurance Corporation of IndiaCentral Office, Yogakshema , JeevanBima Marg,Mumbai-400021

Website: www.licindia.inRegistration Number: 512


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LICs JEEVAN RAKSHAK (UIN: 512N289V01)

LICs Jeevan Rakshak Plan is a participating non-linked plan which offers a combination of protectionand savings. This plan provides financial support for the family in case of unfortunate death of the

policyholder any time before maturity and a lump sum amount at the time of maturity for the survivingpolicyholder. This plan also takes care of liquidity needs through its loan facility.

1. Benefits:Death benefit:In case of death of the policyholder during the policy term provided all due premiums have been

paid, Sum Assured on Death shall be payable, which is the highest of

Basic Sum Assured or

10 times of annualized premium or

105% of all the premiums paid as on date of death.

The premiums defined above exclude service tax, extra premium and Accident Benefit rider

premium, if any.

In addition to the above, Loyalty Addition, if any shall also be payable if death occurs aftercompletion of 5

thpolicy year.

Maturity Benefit: Basic Sum Assured, along with Loyalty Addition, 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: Provided the policy is in full force, then depending upon theCorporations experience the policies under this plan will be eligible for Loyalty Addition. TheLoyalty Addition, if any, is payable at such rate and on such terms as may be declared by the

Corporation, on death after completion of 5th

policy year or on Policyholder surviving to thematurity.

2. Optional Benefit:LICs Accident Benefit Rider: Accident Benefit Rider is available as an optional rider by payment

of additional premium. In case of accidental death, the Accident Benefit Sum Assured will bepayable as lumpsum along with the death benefit under the basic plan

3. Eligibility Conditions and Other Restrictions :For Basic plan(This plan is only available for standard healthy lives without undergoing any medical

examination)a) Minimum Basic Sum Assured per life* : Rs. 75,000

b) Maximum Basic Sum Assured per life* : Rs. 200,000(The Basic Sum Assured shall be in multiples of Rs. 5000/-)

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

d) Maximum Age at entry : 55 years (nearest birthday)

e) Minimum Policy Term : 10 yearsf) Maximum Policy Term : 20 yearsg) Maximum Age at Maturity : 70 years (nearest birthday)

* The total Basic Sum Assured under all policies issued to an individual under this plan shall not

exceed Rs. 2 lakh.


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For LICs Accident Benefit Rider

(a) Minimum Accident Benefit Sum Assured : Rs. 75,000

(b) Maximum Accident Benefit Sum Assured : An amount equal to the Basic Sum Assured under the

Basic Plan subject to the maximum of Rs.50 lakh overall limit taking all existing policies of theLife Assured under individual as well as group schemes including policies with inbuilt accident

benefit taken with Life Insurance Corporation of India and the Accident Benefit Sum Assured under

the new proposal into consideration.

The Accident Benefit Sum Assured shall be in multiples of Rs. 5,000.(c) Minimum Entry Age : 18 years (completed)

(d) Maximum Entry Age : The cover can be opted for at any policy anniversaryduring the policy term

(e) Maximum Cover Ceasing Age : Same as under the Basic Plan.

4. Payment of Premiums:

Premiums can be paid regularly at yearly, half-yearly, quarterly or monthly mode (through ECSonly) or through salary deductions over the term of policy.

However, a grace period of one month but not less than 30 days will be allowed for payment ofyearly or half-yearly or quarterly premiums and 15 days for monthly premiums.

5. Sample Premium Rates:Following are some of the sample tabular annual premium rates (exclusive of service tax) per Rs.1000/- Basic Sum Assured:

AGE/TERM 10 15 20

10 85.90 51.70 35.2020 86.25 52.05 35.55

30 86.45 52.35 35.95

40 87.35 53.70 37.80

50 90.65 57.80 42.70

6. Mode and High Basic Sum Assured Rebates:Mode Rebate:

Yearly mode - 2% of Tabular PremiumHalf-yearly mode - 1% of Tabular premium

Quarterly, Monthly (ECS) & Salary deduction - NIL

High Basic Sum Assured Rebate:

Basic Sum Assured Rebate (Rs.)75,000 to 1,45,000 - Nil

1,50,000 and above - 1.50%o SA7. Revival:

If premiums are not paid within the grace period then the policy will lapse. A lapsed policy can berevived within a period of 2 consecutive years from the date of first unpaid premium and before thedate of maturity, as the case may be by paying all the arrears of premium together with interest

(compounding half-yearly) at such rate as fixed by the Corporation at the time of the payment,subject to submission of satisfactory evidence of continued insurability.


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Revival of Accident Benefit rider, if opted for, will be considered along with revival of the Basic

Policy, and not in isolation.

8. Paid-up Value:

If at least three full years premiums have been paid and any subsequent premiums be not duly paid,

this policy shall not be wholly void, but shall continue as a paid-up policy. The Basic Sum Assuredunder the policy shall be reduced to such a sum, called Paid-up Sum Assured and shall bear the

same ratio to the Basic Sum Assured as the no. of premiums paid bears to the total number ofpremiums i.e. Basic Sum Assured *(no. of premiums paid / no. of premiums payable).

This Paid-Up Sum Assured is payable on expiry of the policy term or on Life Assureds prior death.

Accident Benefit Rider does not acquire any paid-up value and the rider benefits cease to apply, if

policy is in lapsed condition.

9. Surrender Value:

The policy can be surrendered for cash provided atleast three full years premiums have been paid.The Guaranteed Surrender Value shall be a percentage of total premiums paid (net of service tax)excluding extra premiums and premiums for Accident Benefit rider, if opted for. This percentage

will depend on the policy term and policy year in which the policy is surrendered and specified asbelow:

Corporation may, however, pay Special Surrender value, if it is more favorable to the Policyholder.

10. Policy Loan:Loan can be availed under the policy provided the policy has acquired a surrender value andsubject to the terms and conditions as the Corporation may specify from time to time.


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11. Taxes:Taxes including Service Tax, if any, shall be as per the Tax laws and the rate of tax shall be asapplicable from time to time.

The amount of tax as per the prevailing rates shall be payable by the Policyholder on premiums

including extra premiums, if any. The amount of tax paid shall not be considered for thecalculation of benefits payable under the plan.

12. Cooling-off period:

If the Policyholder is not satisfied with the Terms and Conditions of the policy, the policy maybe returned to the Corporation within 15 days from the date of receipt of the policy bond statingthe reasons of objection. 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 basic planand Accident Benefit rider, if any) for the period on cover and stamp duty charges.

13. Exclusion:

Suicide: - This policy shall be void(i) If the Life Assured (whether sane or insane) commits suicide at any time within 12 months from

the date of commencement of risk and the Corporation will not entertain any claim under this

policy except to the extent of 80% of the premiums paid excluding any taxes, extra premium

and Accident Benefit rider premium, if any, provided the policy is inforce.

(ii) If the Life Assured (whether sane or insane) commits suicide within 12 months from date ofrevival, an amount which is higher of 80% of the premiums paid till the date of death (excludingany taxes, extra premium and Accident Benefit rider premium, if any,) or the surrender value,

shall be payable. The Corporation will not entertain any other claim under this policy.

BENEFIT ILLUSTRATION:

Statutory warning:Some benefits are guaranteed and some benefits are variable with returns based on the future performance ofyour Insurer carrying on life insurance business. If your policy offers guaranteed returns then these will beclearly marked guaranteed in the illustration table on this page. If your policy offers variable returns then theillustrations on this page will show two different rates of assumed future investment returns. These assumedrates of return are not guaranteed and they are not the upper or lower limits of what you might get back, as thevalue of your policy is dependent on a number of factors including future investment performance.


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Notes:i) This illustration is applicable to a standard (from medical, life style and occupation point of view) life.ii) The non-guaranteed benefits (1) and (2) in above illustration are calculated so that they are consistent with

the Projected Investment Rate of Return assumption of 4% p.a. (Scenario 1) and 8% p.a. (Scenario 2)respectively. In other words, in preparing this benefit illustration, it is assumed that the ProjectedInvestment Rate of Return that LICI will be able to earn throughout the term of the policy will be 4%p.a. or 8% p.a., as the case may be. The Projected Investment Rate of Return is not guaranteed.

iii) The main objective of the illustration is that the client is able to appreciate the features of the product and theflow of benefits in different circumstances with some level of quantification.


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SECTION45 OF INSURANCEACT,1938:No policy of life insurance shall after the expiry of two years from the date on which it was effected,becalled in question by an insurer on the ground that a statement made in the proposal for insurance orin

any report of a medical officer, or referee, or friend of the insured, or in any other document leadingto the issue of the policy, was inaccurate or false, unless the insurer shows that such statement wason a material matter or suppressed facts which it was material to disclose and that it was

fraudulently made by the policyholder and that the policyholder knew at the time of making it that

the statement was false or that it suppressed facts which it was material to disclose.

Provided that 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 merelybecause the terms of the policy are adjusted on subsequent proof that the age of the life assured was

incorrectly stated in the proposal.

PROHIBITION OFREBATES(SECTION 41OFINSURANCE ACT, 1938):1) No person shall allow or offer to allow, either directly or indirectly, as an inducement to anyperson

to take out or renew or continue an insurance in respect of any kind of risk relating to lives orproperty in India, any rebate of the whole or part of the commission payable or any rebate of thepremium 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: provided that acceptance by an insurance agent

of commission in connection with a policy of life insurance taken out by himself on his own life

shall not be deemed to be acceptance of a rebate of premium within the meaning of this sub-

section if at the time of such acceptance the insurance agent satisfies the prescribed conditions

establishing that he is a bona fide insurance agent employed by the insurer.

2) Any person making default in complying with the provisions of this section shall be

punishable with fine which may extend to five hundred rupees.

Note: Conditions apply for which please refer to the Policy document or contact our nearest

Branch Office.

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/ FRAUDULENT OFFERS

IRDA clarifies to public that

IRDA or its officials do not involve in activities like sale of any kind of insurance orfinancial products nor invest premiums.

IRDA does not announce any bonus.

Public receiving such phone calls are requested to lodge a police complaint along with detailsof phone call, number.


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Insurance is the subject matter of solicitation Registered Office:

Life Insurance Corporation of India

Central Office, Yogakshema,Jeevan Bima Marg,

Mumbai 400021.Website: www.licindia.in

Registration Number: 512


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INFORMATION TO BE PROVIDED IN SALES BROCHURE OF

LICs SINGLE PREMIUM ENDOWMENT PLAN (UIN: 512N283V01)

LICs Single Premium Endowment Plan is a participating non-linked savings cum protection

plan, where premium is paid in lump sum at the outset of the policy. This combination providesfinancial protection against death during the policy term with the provision of payment oflumpsum at the end of the selected policy term in case of his/her survival. This plan also takescare of liquidity needs through its loan facility.

1. BENEFITS :

Death Benefit:

a) On death during the policy term before the date of commencement of risk: Return ofsingle 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: SumAssured along with vested Simple Reversionary Bonuses and Final Additional Bonus, if

any.

Maturity Benefit: 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.

Final (Additional) Bonus may also be declared under the policy in the year when the policyresults into a claim either by death or maturity on such terms and conditions as may bedeclared by the Corporation from time to time.

2. ELIGIBILITY CONDITIONS AND OTHER RESTRICTIONS :

a)b)

Minimum entry ageMaximum entry age

: 90 days (completed): 65 years (nearest birthday)

c) Maximum maturity age: : 75 years (nearest birthday)

d)e)

Minimum policy termMinimum age at maturity

: 10 years: 18 years (completed)

f)g)

Maximum policy termMinimum Sum Assured

: 25 years: Rs.50,000

h) Maximum Sum assured : No limitSum Assured will be in multiples of Rs.5,000 /- only.

i) Premium payment mode : Single Premium only

Date of Commencement of risk: In case the age of Life Assured at entry is less than 8 years, riskunder this plan 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, whicheveris earlier. For those aged 8 years or more, risk will commence immediately.


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3. SAMPLE PREMIUM RATES:

The sample premium rates (exclusive of taxes) are as under: -

Single Premium per 1000 Sum Assured

Age

(Nearest

birthday)

Term

10 15 25

10 756.90 640.30 463.10

20 757.60 641.55 465.85

30 757.95 642.60 470.90

40 759.75 647.65. 488.35

50 766.05 662.25 527.35

60 777.50 688.60 -

4. REBATE FOR HIGH SUM ASSURED :

High Sum Assured Rebates:

Sum Assured (S.A) Rebate (Rs.)50,000 to 95,000 Nil

1, 00,000 to 1, 95,000 18%o S.A.

2, 00,000 to 2, 95,000 25%o S.A.3, 00,000 and above 30%o S.A.

5. LOAN :Loan can be availed under this plan any time after completion of first policy year and subjectto terms and conditions as the company may specify from time to time.

6. SURRENDER VALUE:

Buying a life insurance contract is a long term commitment. However, surrender value isavailable under the plan on earlier termination of the contract.

The Guaranteed Surrender Value allowable shall be as under:

- First year: 70% of the Single premium excluding service tax and extra premium, if any

- Thereafter: 90% of the Single premium excluding service tax and extra premium, if any.

In addition, the surrender value of vested simple reversionary bonuses, if any, shall also bepayable, which is equal to vested bonuses multiplied by the surrender value factor applicable

to vested bonuses. These factors will depend on the policy term and policy year in which the

policy is surrendered and specified as below:


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The Corporation may, however, pay Special Surrender Value as applicable as on date ofsurrender provided the same is higher than Guaranteed Surrender Value.

7. TAXES:Taxes, if any, shall be as per the Tax laws and the rate of tax as applicable from time to time.

The amount of tax payable as per the prevailing rates shall be payable by the policyholder on

premiums including extra premiums, if any. The amount of Tax paid shall not be consideredfor the calculation of benefits payable under the plan.

8. COOLING-OFF PERIOD:If the policyholder is not satisfied with the Terms and Conditions of the policy, the policymay be returned to the Corporation within 15 days from the date of receipt of the policystating the reason of objections. On receipt of the same the Corporation shall cancel the policy

and return the amount of single premium deposited after deducting the proportionate risk

premium for the period on cover, charges for medical examination, special reports, if any,and stamp duty.

9. EXCLUSIONS:The policy shall be void if the Life Assured (whether sane or insane) commits suicide at anytime within 12 months from the date of commencement of risk and the Corporation will not


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entertain any claim under this policy except to the extent of 90% of the single premium paidexcluding taxes and any extra premium paid.


Statutory warning:

Some benefits are guaranteed and some benefits are variable with returns based on the future performance of the corporation. If your policy offers guaranteed returns then these will be

clearly marked guaranteed in the illustration table on this page. If your policy offers

variable returns then the illustrations on this page will show two different rates of assumed

future investment returns. 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.

LICs Single Premium Endowment Plan


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Notes :

i) This illustration is applicable to a non-smoker male/female standard (from medical, life

style and occupation point of view) life.ii) The non-guaranteed benefits (1) and (2) in above illustration are calculated so that they

are consistent with the Projected Investment Rate of Return assumption of 4%

p.a.(Scenario 1) and 8% p.a. (Scenario 2) respectively. In other words, in preparing this

benefit illustration, it is assumed that the Projected Investment Rate of Return that LICI

will be able to earn throughout the term of the policy will be 4% p.a. or 8% p.a., as thecase may be. The Projected Investment Rate of Return isnot guaranteed.

iii) The main objective of the illustration is that the client is able to appreciate the features of

the product and the flow of benefits in different circumstances with some level ofquantification.

SECTION 45 OF INSURANCE ACT, 1938:

No policy of life insurance shall after the expiry of two years from the date on which it was

effected, be called in question by an insurer on the ground that a statement made in the proposalfor insurance or in any report of a medical officer, or referee, or friend of the insured, or in any

other document leading to the issue of the policy, was inaccurate or false, unless the insurer

shows that such statement was on a material matter or suppressed facts which it was material todisclose and that it was fraudulently made by the policyholder and that the policyholder knew at

the time of making it that the statement was false or that it suppressed facts which it was material

to disclose.

Provided that nothing in this section shall prevent the insurer from calling for proof of age at anytime 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 assured

was incorrectly stated in the proposal.


1) 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: provided that acceptance by an

insurance agent of commission in connection with a policy of life insurance taken out by

himself on his own life shall not be deemed to be acceptance of a rebate of premium withinthe meaning of this sub-section if at the time of such acceptance the insurance agent satisfies

the prescribed conditions establishing that he is a bona fide insurance agent employed by the

insurer.

2) Any person making default in complying with the provisions of this section shall be

punishable with fine which may extend to five hundred rupees.


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Note : Conditions apply for which please refer to the Policy document or contact our nearest

Branch Office.

Insurance is the subject matter of solicitation

Registered Office:Life Insurance Corporation of India

Central Office, Yogakshema,Jeevan Bima Marg,

Mumbai - 400021. Website:www.licindia.in

Registration Number : 512


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LICs NEW JEEVAN ANAND (UIN: 512N279V01)

LIC's New Jeevan Anand Plan is a participating non-linked plan which offers an attractivecombination of protection and savings. This combination provides financial protection against death

throughout the lifetime of the policyholder with the provision of payment of lumpsum at the end ofthe selected policy term in case of his/her survival. This plan also takes care of liquidity needsthrough its loan facility.

1. Benefits:Death benefit:Provided all due premiums have been paid, the following death benefit shall be paid:

On Death during the policy term: Death benefit, defined as sum of Sum Assured onDeath and vested Simple Reversionary Bonuses and Final Additional bonus, if any, shallbe payable. Where, Sum Assured on Death is defined as higher of 125% of Basic SumAssured or 10 times of annualised 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, ifany.

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 SimpleReversionary Bonuses and Final Additional Bonus, if any, shall be payable in lump sum onsurvival 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 beentitled to receive Simple Reversionary 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 resultsinto death claim during the policy term or due for the survival benefit payment provided thepolicy is in full force and has run for certain minimum term.

2. Optional Benefit:LICs Accidental Death and Disability Benefit Rider: LICs Accidental Death and DisabilityBenefit Rider is available as an optional rider by payment of additional premium during the policyterm. In case of accidental death during the policy term, Accident Benefit Sum Assured will bepayable as lumpsum along with the death benefit under the basic plan. In case of accidentalpermanent disability arising due to accident (within 180 days from the date of accident), an amountequal to the Accident Benefit Sum Assured will be paid in equal monthly installments spread over10 years and future premiums for Accident Benefit Sum Assured as well as premiums for theportion of Basic Sum Assured which is equal to Accident Benefit Sum Assured under the policy,shall be waived.

3. Eligibility Conditions and Other Restriction :For Basic plana) Minimum Basic Sum Assured : Rs. 100,000b) Maximum Basic Sum Assured : No Limit

(The Basic Sum Assured shall be in multiples of Rs. 5000/-)


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Policy Term (in years)

Age (inyears)

15 25 35

20 79.05 44.30 29.9530 82.45 46.75 32.3040 88.20 51.40 37.10

50 97.70 59.65

c) Minimum Age at entry : 18 years (completed)d) Maximum Age at entry : 50 years (nearest birthday)e) Maximum Maturity Age : 75 years (nearest birthday)f) Minimum Policy Term : 15 yearsg) Maximum Policy Term : 35 years

For LICs Accidental Death and Disability Benefit Ridera) Minimum Accident Benefit Sum Assured : Rs. 100,000b) Maximum Accident Benefit Sum Assured :

An amount equal to the Basic Sum assured under the Basic Plan subject to the maximum ofRs.50 lakh overall limit taking all existing policies of the Life Assured under individual as wellas group schemes including policies with inbuilt accident benefit taken with Life InsuranceCorporation of India and the Accident Benefit Sum Assured under the new proposal intoconsideration.(The Accident Benefit Sum Assured shall be in multiples of Rs. 5000/-)

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

d) Maximum Age at entry : The cover can be opted for at any policy anniversaryduring the policy term but before the policyanniversary on which the age nearer birthday of theLife Assured is 70 years.

e) Maximum cover ceasing age : 70 years (nearest birthday) or till the end of the PolicyTerm, whichever is earlier.

4. Payment of Premiums:Premiums can be paid regularly at yearly, half-yearly, quarterly or monthly intervals (throughECS only or through salary deductions) over the Policy Term.

However, a grace period of one calendar month but not less than 30 days will be allowed for

payment of yearly or half-yearly or quarterly premiums and 15 days for monthly premiums.

5. Sample Premium Rates:Following are some of the sample tabular premium rates (exclusive of service tax) per Rs. 1000/-Basic Sum Assured:

6. Mode and High S.A. Rebates:ModeRebate:

Yearly mode - 2% of Tabular PremiumHalf-yearly mode - 1% of Tabular premiumQuarterly & Monthly mode - NIL

HighSumAssuredRebate:BasicSumAssured(B.S.A) Rebate(Rs.)

1, 00,000 to 1, 95,000 - Nil

2, 00,000 to 4, 95,000 - 1.50%o B.S.A.


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5, 00,000 and 9, 95,000 - 2.50%o B.S.A.10, 00,000 and above - 3.00%o B.S.A.

7. Revival:If premiums are not paid within the grace period then the policy will lapse. A lapsed policy can berevived within a period of 2 consecutive years from the date of first unpaid premium but beforethe end of policy term on payment of all the arrears of premium together with interest(compounding half-yearly) at such rate as fixed by the Corporation from time to time, subject tosubmission of satisfactory evidence of continued insurability.

The Corporation reserves the right to accept at original terms, accept at revised terms or declinethe revival of a discontinued policy. The revival of discontinued policy shall take effect only afterthe same is approved by the Corporation and is specifically communicated to the Policyholder.

Revival of rider(s), if opted for, will be considered along with revival of the basic policy and not inisolation.

8. Paid-up Value:If at least three full years premiums have been paid and any subsequent premiums be not dulypaid, this policy shall not be wholly void, but shall continue as a paid-up policy. The Basic SumAssured under the policy shall be reduced to such a sum, called Paid-up Sum Assured and shallbear the same ratio to the Basic Sum Assured as the premiums paid bears to the total number ofpremiums payable i.e. Basic Sum Assured *(number of premiums paid / number of premiumspayable).

This Paid-up Sum Assured along with vested simple reversionary bonuses, if any, is payable onthe expiry of policy term or in case of prior death. The reversionary bonuses already accrued to thepolicy as on the date of paid-up will remain attached to the policy. A paid-up policy will not

accrue any further bonuses. In case of death after the policy term Paid-up Sum Assured will bepaid.

Rider(s) do not acquire any paid-up value and the rider benefits cease to apply, if policy is inlapsed condition.

9. Surrender Value:The policy can be surrendered for cash provided atleast three full years premiums have beenpaid. The Guaranteed Surrender value during policy term shall be a percentage of total premiumspaid (net of service tax) excluding extra premiums and premiums for riders, if opted for. Thispercentage will depend on the policy term and policy year in which the policy is surrendered and

specified as below:


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In addition, the surrender value of any vested simple reversionary bonuses, if any, shall also bepayable, which is equal to vested bonuses multiplied by the surrender value factor applicable tovested bonuses. These factors will depend on the policy term and policy year in which the policy issurrendered and specified as below:


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10. Policy Loan:Loan can be availed under the policy provided the policy has acquired a surrender value andsubject to the terms and conditions as the company may specify from time to time.

11. Taxes:Taxes including Service Tax, if any, shall be as per the Tax laws and the rate of tax shall be asapplicable from time to time.

The amount of tax as per the prevailing rates shall be payable by the Policyholder on premiumsincluding extra premiums, if any. The amount of tax paid shall not be considered for thecalculation of benefits payable under the plan.

12. Cooling-off period:If the Policyholder is not satisfied with the Terms and Conditions of the policy may be returnedto us within 15 days from the date of receipt of the policy bond stating the reasons of objections.

On receipt of the same the Corporation shall cancel the policy and return the amount of premiumdeposited after deducting the proportionate risk premium (for basic plan and rider(s), if any) forthe period on cover, expenses incurred on medical examination, special reports, if any and stampduty.

13. Exclusion:Suicide: - This policy shall be voidi. If the Life Assured (whether sane or insane) commits suicide at any time within 12 months from

the date of commencement of risk and the Corporation will not entertain any claim under thispolicy except to the extent of 80% of the premiums paid excluding any taxes, extra premiumand rider premiums, if any, provided the policy is inforce.

ii. If the Life Assured (whether sane or insane) commits suicide within 12 months from date ofrevival, an amount which is higher of 80% of the premiums paid till the date of death(excluding any taxes, extra premium and rider premiums, if any,) or the surrender value,provided the policy is inforce, shall be payable. The Corporation will not entertain any otherclaim under this policy.


Statutory warning:Some benefits are guaranteed and some benefits are variable with returns based on the future performance ofLife Insurance Corporation of India. If your policy offers guaranteed returns then these will be clearly markedguaranteed in the illustration table on this page. If your policy offers variable returns then the illustrations on

this page will show two different rates of assumed future investment returns. These assumed rates of return arenot guaranteed and they are not the upper or lower limits of what you might get back, as the value of your policyis dependent on a number of factors including future investment performance.


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Notes:i) This illustration is applicable to a standard (from medical, life style and occupation point ofview) life.ii) The non-guaranteed benefits (1) and (2) in above illustration are calculated so that they areconsistent with

the Projected Investment Rate of Return assumption of 4% p.a. (Scenario 1) and 8% p.a.(Scenario 2)respectively. In other words, in preparing this benefit illustration, it is assumed that theProjectedInvestment Rate of Return that LICI will be able to earn throughout the policy term of the policywill be4% p.a. or 8% p.a., as the case may be. The Projected Investment Rate of Return is not

guaranteed.iii) The main objective of the illustration is that the client is able to appreciate the features of the product

and theflow of benefits in different circumstances with some level of quantification.

SECTION 45 OF INSURANCE ACT, 1938:No policy of life insurance shall after the expiry of two years from the date on which it waseffected,be called in question by an insurer on the ground that a statement made in the proposal forinsurance or in any report of a medical officer, or referee, or friend of the insured, or in any otherdocument leading to the issue of the policy, was inaccurate or false, unless the insurer showsthat such statement was on a material matter or suppressed facts which it was material todisclose and that it was fraudulently made by the policyholder and that the policyholderknew at the time of making it that the statement was false or that it suppressed facts which itwas material to disclose.

Provided that 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 merelybecause the terms of the policy are adjusted on subsequent proof that the age of the life assuredwas incorrectly stated in the proposal.

PROHIBITION OF REBATES (SECTION 41 OF INSURANCE ACT, 1938):1) No person shall allow or offer to allow, either directly or indirectly, as an inducementto any

person to take out or renew or continue an insurance in respect of any kind of risk relating tolives or property in India, any rebate of the whole or part of the commission payable orany rebate of the premium shown on the policy, nor shall any person taking out or renewingor continuing a policy accept any rebate, except such rebate as may be allowed in accordance

with the published prospectuses or tables of the insurer: provided that acceptance by aninsurance agent of commission in connection with a policy of life insurance taken out byhimself on his own life shall not be deemed to be acceptance of a rebate of premium withinthe meaning of this sub-section if at the time of such acceptance the insurance agent satisfiesthe prescribed conditions establishing that he is a bona fide insurance agent employed by theinsurer.

2) Any person making default in complying with the provisions of this section shall bepunishable with fine which may extend to five hundred rupees.


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Note: Conditions apply for which please refer to the Policy document or contact our nearestBranch Offices.

Insurance is the subject matter of solicitation Registered Office:

Life Insurance Corporation of

IndiaCentral Office, Yogakshema,

Jeevan Bima Marg,Mumbai 400021.Website :www.licindia.inRegistration Number: 512


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LICs NEW BIMA BACHAT (UIN: 512N284V01)

LICs New Bima Bachat is a participating non-linked savings cum protection plan, where

premium is paid in lump sum at the outset of the policy. It is a money-back plan whichprovides financial protection against death during the policy term with the provision of

payment of survival benefits at specified durations during the policy term. In addition, onmaturity, the single premium shall be returned along with Loyalty Addition, if any. This plan

also takes care of liquidity needs through its loan facility.

1. BENEFITS :

a) 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 3 rd & 6th policyyearFor policy term 12 years: 15% of the Sum Assured at the end of each of 3rd, 6th & 9thpolicy 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, ifany) 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 Corporations experience the policies shall be participate in theprofits and shall be eligible for Loyalty Addition. The Loyalty Addition, if any, is payableon 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.

2. ELIGIBILITY CONDITIONS AND OTHER RESTRICTIONS :

a) Minimum entry age : 15 years (completed)

b) Maximum entry age : 66 years (nearest birthday) for term 9 years63 years (nearest birthday) for term 12 years60 years (nearest birthday) for term 15 years

c) Maximum maturity age: : 75 years (nearest birthday)

d) Policy Term : 9, 12 or 15 years.


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e) Minimum Sum Assured : Rs.35,000 for term 9 years

Rs.50,000 for term 12 years

Rs.70,000 for term 15 years

f) Maximum Sum assured : No limit

Sum Assured will be in multiples of Rs.5,000 /- only.

g) Premium payment mode : Single Premium only

3. SAMPLE PREMIUM RATES:

The sample premium rates (exclusive of taxes) are as under: -

Single Premium per 1000 Sum Assured (Rs)

Age (Nearestbirthday)

Term

9 12 15

15 767.95 771.00 771.5525 768.95 772.00 772.70

35 771.70 775.35 776.80

45 782.65 787.15 789.25

55 803.80 808.10 810.70

65 836.85 - -

4. REBATE FOR HIGH SUM ASSURED :

High Sum Assured Rebates (As percentage of Tabular Premium) :

Term = 9 years

Less than Rs. 75,000 : NIL

Rs. 75,000 and Less than Rs.150,000 : 6 %Rs. 150,000 and above . : 8 %

Term =12 years

Less than Rs. 100,000 : NIL

Rs. 100,000 and Less than Rs. 200,000. : 4 %

Rs. 200,000 and above : 6 %

Term =15 yearsLess than Rs. 150,000 : NIL

Rs. 150,000 and Less than Rs.300,000 : 3 %

Rs. 300,000 and above : 5 %

5. LOAN :

Loan can be availed under this plan any time after completion of one policy year. The loanshall be equal to 60% of the surrender value as on date of sanction of loan.


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6. SURRENDER VALUE:Buying a life insurance contract is a long term commitment. However, surrender value isavailable under the plan on earlier termination of the contract.

The Guaranteed Surrender Value allowable shall be as under:

- First year: 70% of the Single premium excluding taxes and extra premium, if any. - Thereafter: 90% of the Single premium excluding taxes, extra premium, if any and all

survival benefits paid earlier.

The Corporation may, however, pay Special Surrender Value as applicable as on date ofsurrender provided the same is higher than Guaranteed Surrender Value.

7. TAXES:

Taxes including Service Tax, if any, shall be as per the Tax laws and the rate of tax asapplicable from time to time.

The amount of tax as per the prevailing rates shall be payable by the Life Assured on thesingle premium including extra premium, if any. The amount of Tax paid shall not beconsidered for the calculation of benefits payable under the plan.

8. COOLING-OFF PERIOD:

If you are not satisfied with the Terms and Conditions of the policy, you may return thepolicy to the Corporation within 15 days from the date of receipt of the policy stating the

reason of objections. On receipt of the same the Corporation shall cancel the policy and return

the amount of single premium deposited after deducting the proportionate risk premium forthe period on cover, charges for medical examination, special reports, if any, and stamp duty.

9. EXCLUSIONS:The policy shall be void if the Life Assured (whether sane or insane) commits suicide at anytime within 12 months from the date of commencement of risk and the Corporation will notentertain any claim under this policy except to the extent of 90% of the single premium paid

excluding taxes and any extra premium paid.


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BENEFIT ILLUSTRATION :

Statutory warning:Some benefits are guaranteed and some benefits are variable with returns based on the future

performance of the corporation. If your policy offers guaranteed returns then these will beclearly marked guaranteed in the illustration table on this page. If your policy offers

variable returns then the illustrations on this page will show two different rates of assumed

future investment returns. 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.


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Notes :

i) The Single Premium shown above is exclusive of tax.

ii) This illustration is applicable to a non-smoker male/female standard (from medical, life styleand occupation point of view) life.

iii) The non-guaranteed benefits (1) and (2) in above illustration are calculated so that they are

consistent with the Projected Investment Rate of Return assumption of 4% p.a.(Scenario 1) and

8% p.a. (Scenario 2) respectively. In other words, in preparing this benefit illustration, it is

assumed that the Projected Investment Rate of Return that LICI will be able to earn throughout

the term of the policy will be 4% p.a. or 8% p.a., as the case may be. The Projected Investment

Rate of Return isnot guaranteed.

iv) The main objective of the illustration is that the client is able to appreciate the features of

the product and the flow of benefits in different circumstances with some level of quantification.

v) The amount shown under benefit payable on survival at the end of the policy term is the

Maturity Benefit.


No policy of life insurance shall after the expiry of two years from the date on which it waseffected, be called in question by an insurer on the ground that a statement made in the proposal

for insurance or in any report of a medical officer, or referee, or friend of the insured, or in any

other document leading to the issue of the policy, was inaccurate or false, unless the insurershows that such statement was on a material matter or suppressed facts which it was material to

disclose and that it was fraudulently made by the policyholder and that the policyholder knew at

the time of making it that the statement was false or that it suppressed facts which it was material

to disclose.

Provided that nothing in this section shall prevent the insurer from calling for proof of age at anytime 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 assuredwas incorrectly stated in the proposal.


(1) No person shall allow or offer to allow, either directly or indirectly, as an inducementto 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

rebates as may be allowed in accordance with the published prospectuses or tables ofthe insurer : provided that acceptance by an insurance agent of commission in

connection with a policy of life insurance taking out by himself on his own life shall

not be deemed to be acceptance the insurance agent satisfies the prescribed conditions

establishing that he is a bona fide insurance agent employed by the insurer.


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(2) Any person making default in complying with the provisions of this Section shall be

punishable with a fine which may extend to Rs.500 /-

Note : Conditions apply for which please refer to the Policy document or contact our nearest

Branch Office.


Registered Office:

Life Insurance Corporation of IndiaCentral Office, Yogakshema,Jeevan Bima Marg,

Mumbai - 400021.

Website: www.licindia.in

Registration Number : 512


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LICs New Jeevan Nidhi (UIN: 512N271V02)

LICs New Jeevan Nidhi Plan is a conventional with profits pension plan with a combination of

protection and saving features. This plan provides for death cover during the deferment periodand offers annuity on survival to the date of vesting.

1. Benefits:

a. Benefit on Vesting: Provided the policy is in full force, on vesting an amount equal to theBasic Sum Assured along with accrued Guaranteed Additions, vested SimpleReversionary bonuses and Final Additional bonus, if any, shall be made available to theLife Assured.

The following options shall be available to the Life Assured for utilization of the benefitamount.

1. To purchase an immediate annuityThe Life Assured shall have a choice to commute the amount available on vesting tothe extent allowed under Income Tax Act. The entire amount available on vesting orthe balance amount after commutation, as the case may be, shall be utilized topurchase immediate annuity at the then prevailing annuity rates. Commutation shallonly be allowed provided the balance amount is sufficient to purchase a minimumamount of annuity as per the provisions of section 4 of Insurance Act, 1938.

In case the total benefit amount is insufficient to purchase the minimum amount ofannuity, then the said amount shall be paid as a lump sum to the Life assured.

The annuity shall only be purchased from Life Insurance Corporation of India.or

2. To purchase a new Single Premium deferred pension product from LifeInsurance Corporation of IndiaUnder this option the entire proceeds available on vesting shall be utilized to purchasea single premium deferred pension product provided the policyholder satisfies theeligibility criteria for purchasing single premium deferred pension product.

The Life Assured will have to intimate his / her intention to go for a particular optionavailable on the date of vesting atleast six months prior to the date of vesting.

b. Death Benefit:Death during first five policy years: Provided the policy is in full force, Basic Sum Assuredalong with accrued Guaranteed Addition shall be paid as lump sum or in the form of anannuity or partly in lump sum and balance in the form of an annuity to the nominee.

Death after first five policy years: Provided the policy is in full force, Basic Sum Assuredalong with accrued Guaranteed Addition, Simple Reversionary and Final Additional Bonus,if any, shall be paid as lump sum or in the form of an annuity or partly in lump sum andbalance in the form of an annuity to the nominee.

In any case, provided all due premiums have been paid, the total death benefit at any timeshall not be less than 105% of the total premiums paid (excluding taxes, extra premiumand rider premium, if any).


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The amount of annuity will depend on the payable lump sum and the then prevailingimmediate annuity rates.

c. Guaranteed Additions: The policy provides for Guaranteed Additions @ Rs.50/- perthousand Basic Sum Assured for each completed year, for the first five years.

d. Participation in profits: Provided the policy is in full force, depending upon theCorporations experience the policies shall participate in profits from 6 th year onwards for aSimple Reversionary Bonus at such rate and on such terms as may be declared by theCorporation.

Final (Additional) Bonus may also be declared under the policy in the year when the policyresults into a claim either by way of death or on vesting, provided the policy has run forcertain minimum term.

2. Optional Benefit:

LICs Accidental Death and Disability Benefit Rider: LICs Accidental Death and DisabilityBenefit Rider is available as an optional rider by payment of additional premium under regularpremium policies. In case of accidental death, the Accident Benefit Sum Assured will bepayable as lumpsum along with the death benefit under the basic plan. In case of accidentaldisability arising due to accident (within 180 days from the date of accident), an amount equalto the Accident Benefit Sum Assured will be paid in equal monthly instalments spread over 10years and future premiums for Accident Benefit Sum Assured as well as premiums for theportion of Basic Sum Assured which is equal to Accident Benefit Sum Assured under thepolicy, shall be waived. If the policy becomes a claim either by way of death or the policy vestsbefore the expiry of the said period of 10 years, the disability benefit instalments which havenot fallen due will be paid in lump sum.

The Accident Benefit Sum Assured may be opted for an amount upto the Basic Sum Assuredsubject to minimum of Rs. 1,00,000 and maximum of Rs. 50 lakh (under individual as well asgroup policies with LIC of India). This benefit will be available only till the vesting age.

3. Eligibility Conditions and Other Restrictions :

a) Minimum Basic Sum Assured : Rs.1,00,000 under Regular Premium policiesRs.1, 50,000 under Single Premium policies

b) Maximum Basic Sum Assured : No Limit(The Basic Sum Assured shall be in multiples of Rs.5000/-)

(in years)c) Minimum Entry Age : 20 (nearest Birthday)d) Maximum Entry Age : 60 (nearest Birthday) under Single Premium

58 (nearest birthday) under Regular Premiume) Deferment period : 5 to 35 under Single Premium &

7 to 35 under Regular Premiumf) Minimum Vesting Age : 55 (nearest birthday)g) Maximum Vesting Age : 65 (nearest Birthday)

4. Payment of Premiums:

Premiums can be paid regularly at yearly, half-yearly, quarterly or monthly (through ECS only)or through SSS mode over the term of policy. Alternatively, a single premium can be paid.

A grace period of one calendar month but not less than 30 days will be allowed for payment of

yearly or half-yearly or quarterly premiums and 15 days for monthly premiums. If the premiumis not paid before the expiry of days of grace, the policy lapses.


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5. Sample Premium Rates:

Following are some of the sample premium rates (exclusive of service tax) per Rs. 1000/-S.A.:

Single PremiumsAge at entry Deferment period

10 20 3025 - - 435.8035 - 612.00 456.1545 852.55 632.80 -

Annual PremiumsAge at entry Deferment period

10 20 3025 - - 32.75

35 - 53.60 34.8045 115.25 57.15 -

6. Mode and High S.A. Rebates:

Mode Rebate:Yearly 2% of tabular premiumHalf-Yearly 1% of tabular premiumQuarterly Nil

Sum Assured Rebate:For Regular Premium policies:

Basic Sum Assured Rebate1, 00,000 to 2, 95,000 Nil3, 00,000 and above 2%o S.A.

For Single Premium Policies:Basic Sum Assured Rebate1, 50,000 to 2, 95,000 Nil3, 00,000 and above 5%o S.A.

7. Revival:

If premiums are not paid within the grace period then the policy will lapse. A lapsed policy canbe revived within a period of two consecutive years from the date of first unpaid premium and

before the date of vesting by paying all the arrears of premium together with interest,compounding half-yearly at such rate as fixed by the Corporation at the time of the paymentsubject to submission of satisfactory evidence of continued insurability.

The Corporation reserves the right to accept at original terms, accept at revised terms ordecline the revival of a discontinued policy. The revival of discontinued policy shall take effectonly after the same is approved by the Corporation and is specifically communicated to the lifeassured.

LICs Accidental Death and Disability Benefit Rider, if opted for, shall be revived along with thebasic plan and not in isolation.


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8. Paid-up Value (applicable for regular premium policies):

For policies with deferment period less than 10 years if atleast two full years premiums have

been paid and for policies with deferment period 10 years or more than 10 years if atleastthree full years premiums have been paid and any subsequent premium be not duly paid, thisPolicy shall not be wholly void, but shall subsist as a paid-up policy. The Basic Sum Assuredunder basic plan shall be reduced to such a sum, called the paid-up sum assured, as shallbear the same ratio to the full Basic Sum Assured as the number of premiums actually paidshall bear to the total number of premiums originally stipulated for in the Policy. The policy soreduced shall thereafter be free from all liability for payment of the within-mentioned premiumbut shall not be entitled to guaranteed additions and any bonuses in future. The accruedguaranteed additions and vested bonus additions, if any, will remain attached to the paid-uppolicy.

This paid-up sum assured alongwith the accrued Guaranteed Additions and vested Simple

Reversionary Bonuses, if any, is payable on the date of vesting or on Life Assureds priordeath.

On the death of the Life Assured, the nominee shall have an option to take the proceeds aslump sum or in the form of an annuity or partly in lump sum and balance in the form of anannuity.

On vesting the proceeds shall be payable as per one of the options as specified against para1.a. above.

LICs Accidental Death and Disability Benefit rider do not acquire any paid-up value.

9. Surrender Value:The Surrender Value available under this plan is as under:

Single Premium policies: The policy can be surrendered at any time during the defermentperiod. The Guaranteed Surrender Value shall be as under:

- Within three policy years from Date of Commencement of policy: 70% of the Singlepremium excluding taxes and extra premium, if any.

- Thereafter: 90% of the Single premium excluding taxes and extra premium, if any.

Regular Premium policies:For deferment period less than 10 years: The policy can be surrendered provided thepremiums have been paid for atleast two consecutive years.

For deferment period 10 years or more: The policy can be surrendered provided thepremiums have been paid for atleast three consecutive years.


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The Guaranteed Surrender Value shall be a percentage of total premiums paid excludingtaxes, extra premiums, if any and rider premium, if opted for .This percentage will depend on

the deferment period and the policy year in which the policy is surrendered and are specifiedbelow:


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In addition, the surrender value of any accrued Guaranteed Additions and vested simplereversionary bonuses, if any, shall also be payable, which is equal to the sum of accruedGuaranteed Additions and vested simple reversionary bonuses, if any, multiplied by theSurrender Value factor applicable to accrued Guaranteed Additions and vested bonuses.These factors will depend on the deferment period and the policy year in which the policy is

surrendered and are specified below:


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Corporation may, however, pay Special Surrender value, if it is more favourable to the Life

Assured.

The following options shall be available to the Life Assured for utilization of the Surrenderproceeds:

1. To purchase an immediate annuityThe Life Assured shall have a choice to commute the amount available on surrender tothe extent allowed under Income Tax Act. The entire amount available on surrender orthe balance amount after commutation, as the case may be, shall be utilized topurchase immediate annuity at the then prevailing annuity rates. Commutation shallonly be allowed provided the balance amount is sufficient to purchase a minimumamount of annuity as per the provisions of section 4 of Insurance Act, 1938.


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In case the total benefit amount is insufficient to purchase the minimum amount ofannuity, then the said amount shall be paid as a lump sum to the Life assured.

The annuity shall only be purchased from Life Insurance Corporation of India.or

2. To purchase a new Single Premium deferred pension product from LifeInsurance Corporation of IndiaUnder this option the entire proceeds available on surrender may be utilized topurchase a single premium deferred pension product provided the policyholdersatisfies the eligibility criteria for purchasing single premium deferred pension product.

Surrender value will not be available on LICs Accidental Death and Disability Benefit Rider.

10. Policy Loan:

No loan facility will be available under this plan.

11. Taxes:

Taxes including service tax, if any, shall be as per the Tax laws and the rate of tax shall be asapplicable from time to time.

The amount of tax as per the prevailing rates shall be payable by the Policyholder onpremiums including extra premiums, if any. The amount of tax paid shall not be consideredfor the calculation of benefits payable under the plan.

12. Cooling-off period:

If the Life Assured is not satisfied with the Terms and Conditions of the policy, he/she mayreturn the policy to the Corporation within 15 days from the date of receipt of the policystating the reason of objections. On receipt of the same the Corporation shall cancel thepolicy and return the amount of premium deposited after deducting the proportionate riskpremium for the period on cover (for basic plan and LICs Accidental Death and DisabilityBenefit rider, if any), expenses incurred on medical examination, special reports, if any andstamp duty.

13. Exclusion:

Suicide:Under Single Premium policies:The policy shall be void if the Life Assured (whether sane or insane) commits suicide at anytime within 12 months from the date of commencement of risk and the Corporation will notentertain any claim under this policy except to the extent of 90% of the single premium paid

excluding taxes, extra premium and rider premium, if any.

Under Regular Premium policies:This policy shall be void

i. If the Life Assured (whether sane or insane) commits suicide at any time within 12months from the date of commencement of risk and the Corporation will not entertainany claim under this policy except to the extent of 80% of the premiums paid excludingany taxes, extra premium and rider premiums, if any, provided the policy is inforce.

ii. If the Life Assured (whether sane or insane) commits suicide within 12 months from dateof revival, an amount which is higher of 80% of the premiums paid till the date of death(excluding any taxes, extra premium and rider premiums, if any) or the surrender valueshall be payable. The Corporation will not entertain any other claim under this policy.


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Benefit Illustration:

Statutory warning:

Some benefits are guaranteed and some benefits are variable with returns based on the futureperformance of your insurer carrying on life insurance business. If your policy offers guaranteed

returns then these will be clearly marked guaranteed in the illustration table on this page. If yourpolicy offers variable returns then the illustrations on this page will show two different rates ofassumed future investment returns. These assumed rates of return are not guaranteed and theyare not the upper or lower limits of what you might get back as the value of your policy isdependent on a number of factors including future investment performance.


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No policy of life insurance shall after the expiry of two years from the date on which it waseffected, be called in question by an insurer on the ground that a statement made in the proposal forinsurance or in any report of a medical officer, or referee, or friend of the insured, or in any otherdocument leading to the issue of the policy, was inaccurate or false, unless the insurer shows thatsuch statement was on a material matter or suppressed facts which it was material to disclose and thatit was fraudulently made by the policyholder and that the policyholder knew at the time of making itthat the statement was false or that it suppressed facts which it was material to disclose.

Provided that nothing in this section shall prevent the insurer from calling for proof of age at any time ifhe is entitled to do so, and no policy shall be deemed to be called in question merely because theterms of the policy are adjusted on subsequent proof that the age of the life assured was incorrectlystated in the proposal.

Prohibition of Rebates (Section 41 of Insurance Act, 1938):(1) 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 orproperty in India, any rebate of the whole or part of the commission payable or any rebate of thepremium shown on the policy, nor shall any person taking out or renewing or continuing a policyaccept any rebate, except such rebate as may be allowed in accordance with the publishedprospectuses or tables of the insurer: provided that acceptance by an insurance agent ofcommission in connection with a policy of life insurance taken out by himself on his own life shallnot be deemed to be acceptance of a rebate of premium within the meaning of this sub-sectionif at the time of such acceptance the insurance agent satisfies the prescribed conditionsestablishing that he is a bona f ide insurance agent employed by the insurer.

(2) Any person making default in complying with the provisions of this section shall bepunishable with fine which may extend to five hundred rupees.

Note: Conditions apply for which please refer to the Policy document or contact our nearestBranch Office.


Registered Office:Life Insurance Corporation of IndiaCentral Office, Yogakshema,Jeevan Bima Marg,Mumbai - 400021.

Website: www.licindia.inRegistration Number : 512


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LICs NEW ENDOWMENT PLAN (UIN: 512N277V01)

LIC's New Endowment Plan is a participating non-linked plan which offers an attractive combination

of protection and saving features. This combination provides financial support for the family of thedeceased policyholder any time before maturity and good lump sum amount at the time of maturityfor the surviving policyholders. This plan also takes care of liquidity needs through its loan facility.

1. Benefits:Death benefit: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 Reversionary Bonuses and FinalAdditional bonus, if any, shall be payable. Where, Sum Assured on Death is defined as higherof Basic Sum Assured or 10 times of annualised premium. This death benefit shall not be less than105% 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 reversionary bonuses and FinalAdditional bonus, if any, shall be payable in lump sum on Survival to the end of the policy termprovided 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 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 resultsinto a claim either by death or maturity, provided the policy has run for certain minimum term.

2. Optional Benefit:LICs Accidental Death and Disability Benefit Rider: LICs Accidental Death and DisabilityBenefit Rider is available as an optional rider by payment of additional premium. In case ofaccidental death, the Accident Benefit Sum Assured will be payable as lumpsum along with thedeath benefit under the basic plan. In case of accidental permanent disability arising due toaccident (within 180 days from the date of accident), an amount equal to the Accident Benefit SumAssured will be paid in equal monthly installments spread over 10 years and future premiums forAccident Benefit Sum Assured as well as premiums for the portion of Basic Sum Assured which isequal to Accident Benefit Sum Assured under the policy, shall be waived.

3. Eligibility Conditions and Other Restrictions :For Basic plana) Minimum Basic Sum Assured : Rs. 100,000b) Maximum Basic Sum Assured : No Limit

(The Basic Sum Assured shall be in multiples of Rs. 5000/-)c) Minimum Age at entry : 8 years (completed)d) Maximum Age at entry : 55 years (nearest birthday)e) Maximum Maturity Age : 75 years (nearest birthday)f) Minimum Term : 12 yearsg) Maximum Term : 35 years


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For LICs Accidental Death and Disability Benefit Ridera) Minimum Accident Benefit Sum Assured : Rs. 100,000b) Maximum Accident Benefit Sum Assured :

An amount equal to the Sum Assured under the Basic Plan subject to the maximum of Rs.50lakh Accident Benefit Sum Assured taking all existing policies of the Life Assured under

individual as well as group schemes including policies with in-built accident benefit takenwith Life Insurance Corporation of India and the Accident Benefit Sum Assured under the newproposal into consideration.(The Accident Benefit Sum Assured shall be in multiples of Rs. 5000/-)

c) Minimum Age at entry : 18 years (completed)d) Maximum Age at entry : The cover can be opted for at any policy

anniversary during the policy term but before thepolicy anniversary on which the age nearerbirthday of the Life Assured is 70 years.

e) Maximum cover ceasing age : 70 years (nearest birthday)

4. Payment of Premiums:Premiums can be paid regularly at yearly, half-yearly, quarterly or monthly mode (through ECSonly) or through salary deductions over the term of policy.

However, a grace period of one month but not less than 30 days will be allowed for payment ofyearly or half-yearly or quarterly premiums and 15 days for monthly premiums.

5. Sample Premium Rates:Following are some of the sample tabular premium rates (exclusive of service tax) per Rs. 1000/-Basic Sum Assured:

AGE/TERM 15 25 3520 71.20 40.10 28.1030 71.50 40.75 29.4040 72.85 43.25 33.1550 77.10 49.40

6. Mode and High S.A. Rebates:

ModeRebate:Yearly mode - 2% of Tabular PremiumHalf-yearly modeQuarterly & Salary deduction

- 1% of Tabular premium- NIL

HighSumAssuredRebate:BasicSumAssured(B.S.A) Rebate(Rs.)

1, 00,000 to 1, 95,000 - Nil2, 00,000 to 4, 95,000 - 2.00 %o B.S.A.5, 00,000 and above - 3.00%o B.S.A.

7. Revival:If premiums are not paid within the grace period then the policy will lapse. A lapsed policy can berevive within a period of 2 consecutive years from the date of first unpaid premium and before thedate of maturity, as the case may be by paying all the arrears of premium together with interest(compounding half-yearly) at such rate as fixed by the Corporation at the time of the payment,subject to submission of satisfactory evidence of continued insurability.


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Revival of rider(s), if opted for, will be considered along with revival of the Basic Policy, and not inisolation.

8. Paid-up Value:If at least three full years premiums have been paid and any subsequent premiums be not duly

paid, this policy shall not be wholly void, but shall continue as a paid-up policy. The Basic SumAssured under the policy shall be reduced to such a sum, called Paid-up Sum Assured and shallbear the same ratio to the Basic Sum Assured as the premiums paid bears to the total number ofpremiums i.e. Basic Sum Assured *(no. of premiums paid / no. of premiums payable).

This Paid-Up Sum Assured along with vested simple reversionary bonuses, if any, is payable onthe expiry of policy term or in case of prior death. The reversionary bonuses already accrued to thepolicy as on the date of paid-up will remain attached to the policy. A paid-up policy will notaccrue any further bonuses.

Rider(s) do not acquire any paid-up value and the rider benefits cease to apply, if policy is in

lapsed condition.

9. Surrender Value:The policy can surrendered for cash provided atleast three full years premiums have been paid.The Guaranteed Surrender value shall be percentage of total premiums paid (net of service tax)excluding extra premiums and premiums for riders, if opted for. This percentage will depend onthe policy term and policy year in which the policy is surrendered and specified as below:


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In addition, the surrender value of any vested simple reversionary bonuses, if any, shall also bepayable, which is equal to vested bonuses multiplied by the surrender value factor applicable tovested bonuses. These factors will depend on the policy term and policy year in which the policy issurrendered and specified as below:


10. Policy Loan:Loan can be availed under the policy provided the policy has acquired a surrender value andsubject to the terms and conditions as the company may specify from time to time.

11. Taxes:Taxes, if any, shall be as per the Tax laws and the rate of tax shall be as applicable from time totime.

The amount of tax as per the prevailing rates shall be payable by the Policyholder on premiumsincluding extra premiums, if any. The amount of tax paid shall not be considered for thecalculation of benefits payable under the plan.

12. Cooling-off period:If the Policyholder is not satisfied with the Terms and Conditions of the policy may be returnedto us within 15 days from the date of receipt of the policy bond stating the reasons of objections.On receipt of the same the Corporation shall cancel the policy and return the amount of premiumdeposited after deducting the proportionate risk premium (for basic plan and rider(s), if any) forthe period on cover, expenses incurred on medical examination, special reports, if any and stampduty.


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13. Exclusion:Suicide: - This policy shall be voidi. If the Life Assured (whether sane or insane) commits suicide at any time within 12 months from

the date of commencement of risk and the Corporation will not entertain any claim under thispolicy except to the extent of 80% of the premiums paid excluding any taxes, extra premium

and rider premiums, if any, provided the policy is inforce.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 premiums paid till the date of death(excluding any taxes, extra premium and rider premiums, if any,) or the surrender value,provided the policy is inforce, shall be payable. The Corporation will not entertain any otherclaim under this policy.


Statutory warning:Some benefits are guaranteed and some benefits are variable with returns based on the future performance ofyour Insurer carrying on life insurance business. If your policy offers guaranteed returns then these will beclearly marked guaranteed in the illustration table on this page. If your policy offers variable returns then theillustrations on this page will show two different rates of assumed future investment returns. These assumedrates of return are not guaranteed and they are not the upper or lower limits of what you might get back, as thevalue of your policy is dependent on a number of factors including future investment performance.


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LICs New Endowment Plan

Notes:i) This illustration is applicable to a standard (from medical, life style and occupation point of view) life.ii) The non-guaranteed benefits (1) and (2) in above illustration are calculated so that they are consistent with

the Projected Investment Rate of Return assumption of 4% p.a. (Scenario 1) and 8% p.a. (Scenario 2)


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respectively. In other words, in preparing this benefit illustration, it is assumed thatthe Projected Investment Rate of Return that LICI will be able to earn throughout theterm of the policy will be 4% p.a. or 8% p.a., as the case may be. The Projected InvestmentRate of Return is not guaranteed.

iii) The main objective of the illustration is that the client is able to appreciate the features of theproduct and the flow of benefits in different circumstances with some level of quantification.

SECTION 45 OF INSURANCEACT,1938:No policy of life insurance shall after the expiry of two years from the date on which itwas effected,be called in question by an insurer on the ground that a statement made in the proposalfor insurance or in any report of a medical officer, or referee, or friend of the insured, or in

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