It is a Non-Par, Non-Linked, Life, Individual, Savings plan. This is a Limited Premium Endowment plan with Guaranteed Additions. The Premium Payment Terms (PPTs) available under the product are 6 years, 8 years, 10 years and 12 years.
Eligibility Criteria
| Minimum | Maximum | |
| Entry Age | 30 Days Completed | 60 Years Nearer birthday for PPT 6, 8 and 10 Years |
| 59 Years Nearer birthday for PPT 12 Years | ||
| Term | 10 Years under 6 Years PPT | 20 Years under 6, 8, 10 and 12 Years PPT |
| 15 Years under 8 and 10 Years PPT | ||
| 16 Years under 12 Years PPT | ||
| PPT | 6, 8, 10 and 12 Years | |
| Sum Assured | ₹ 5,00,000/- | No Limit |
Premium Modes
Yearly, Half-Yearly, Quarterly and Monthly (NACH only) or through salary deductions (SSS).
Riders Available
LIC’s Accidental Death & Disability Benefit Rider
LIC’s Accident Benefit Rider
LIC’s New Term Assurance Rider
LIC’s Premium Waiver Benefit Rider
Death Benefit
| Option I | Higher of 7 times of Tabular Annual Premium multiplied by Modal adjustment factor |
| or Basic Sum Assured | |
| Option II | Higher of 10 times of Tabular Annual Premium multiplied by Modal adjustment factor |
| or Basic Sum Assured |
Maturity Benefit
Sum Assured on Maturity along with accrued Guaranteed Additions.
Guaranteed Additions during the policy term shall be added to the policy at the end of each policy year.
| Policy Term (in Years) | Guaranteed Addtion Rates |
| 10 to 13 | 8.50% |
| 14 to 17 | 9% |
| 18 to 20 | 9.50% |
Loan Facility is available after completion of first policy year provided one full year’s premium has been paid.
Option to Surrender the Policy
The policy can be surrendered by the policyholder after completion of first policy year provided atleast one full year’s premium(s) has been paid. However, the policy shall acquire Guaranteed Surrender Value on payment of at least two full years premiums and Special Surrender Value after completion of first policy year provided one full year’s premium(s) has been paid. On surrender of an in-force or paid-up policy, the Corporation shall pay the surrender value higher of…
Guaranteed Surrender Value & any accrued Guaranteed Additions
Or Special Surrender Value.
PLANET CONSULTING, Mahendra Patel Associates, A/203 Arihant Shopping Complex, Arihant Nagar, Dhamankar Naka,
Bhiwandi, Mumbai - 421305,
Maharashtra, India.
