product and services LIC.rtf

7/24/2019 product and services LIC.rtf

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Product and services of LIC

LIC's JEEVAN PRAGATI PLAN (UIN: 5!N"#$V#%

Po&ic ocu)ent

LIC's Jeevan Pragati Plan is a non-linked, with - profits plan which offers a combination of

protection and savings. This plan provides for atomatic increase in risk cover after ever! five

!ears dring the term of the polic!. In addition, this plan also takes care of li"idit! needs

throgh loan facilit!.

* +enefits:

#eath benefit $ In case of death dring the polic! term, provided all de premims have been

paid, #eath benefit, defined as sm of %&m ssred on #eath %, vested &imple (eversionar!

)onses and *inal dditional bons, if an!, shall be pa!able. +here %&m ssred on #eath% is

defined as the higher of times of annalised premim or bsolte amont assred to be paid

on death i.e. of the )asic &m ssred dring first / polic! !ears, 0/ of the )asic &m

ssred dring 1th to th polic! !ears, / of the )asic &m ssred dring th to / th

polic! !ears and thereafter 0 of the )asic &m ssred.

This death benefit shall not be less than / of all the premims paid as on date of death.

Premims referred above shall not inclde an! ta2es, e2tra amont chargeable nder the

polic! de to nderwriting decision and rider premim, if an!.

3atrit! )enefit$ %&m ssred on 3atrit!% e"al to )asic &m ssred, along with vested


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&imple (eversionar! bonses and *inal dditional bons, if an!, shall be pa!able in lmp sm

on srvival to the end of the polic! term provided all de premims have been paid.

Participation in Profits $ The polic! shall participate in profits of the Corporation and shall beentitled to receive &imple (eversionar! )onses declared as per the e2perience of the

Corporation, provided the polic! is in force. The )onses shall be declared on the )asic &m

ssred.

*inal dditional )ons ma! also be declared nder the polic! in the !ear when the polic!

reslts into a claim either b! death or matrit!.

!* ,-tiona& Rider:

The polic!holder has an option of availing LIC's ccidental #eath and #isabilit! )enefit

(ider 45I6$ /0)0789. (ider sm assred cannot e2ceed the )asic &m ssred.

*or more details on the above riders, refer to the rider brochre or contact LIC's nearest

)ranch :ffice.


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LIC's JEEVAN ./I0/AR (UIN:5!N"#5V#% Po&ic ocu)ent

LIC's Jeevan &hikhar is a participating, non-linked, saving cm protection single premim

plan wherein the risk cover is ten times of Tablar &ingle Premim.

The proposer will have an option to choose the 3atrit! &m ssred. The premim pa!able

shall depend on the chosen amont of 3atrit! &m ssred and age at entr! of the life assred.

This plan also takes care of li"idit! need throgh its loan facilit!.

polic! de to nderwriting decision and ta2es.

fter the date of commencement of risk $ %&m ssred on #eath% e"al to times the

tablar single premim shall be pa!able.

:n death after completion of five polic! !ears bt before the stiplated #ate of 3atrit!$

%&m ssred on #eath %e"al to times the tablar single premim along with Lo!alt!

ddition, if an!, shall be pa!able.

1% 2aturit +enefit:

:n matrit!, the 3atrit! &m ssred along with Lo!alt! ddition, if an!, shall be pa!able.


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c% Loa&t Addition:

#epending pon the Corporation's e2perience, the polic! shall participate in the profits in the

form of Lo!alt! ddition. The Lo!alt! ddition, if an!, shall be pa!able on death or srrender,

provided the polic! has rn for atleast five polic! !ears, or on polic!holder srviving to the

matrit!, at sch rate and on sch terms as ma! be declared b! the Corporation.The plan will be

open for sale for a ma2imm period of 0 da!s from the date of lanch.

* +ENE3IT. :

a9 #eath )enefit$

:n death dring first five polic! !ears$

)efore the date of commencement of risk $ (efnd of &ingle Premim withot interest.

&ingle Premim mentioned above shall not inclde an! e2tra amont if charged nder the

LIC4s NE EN,2ENT PLAN (UIN: 5!N!66V#%

LIC's 6ew ;ndowment Plan is a participating non-linked plan which offers an attractive

combination of protection and saving featres. This combination provides financial spport for

the famil! of the deceased polic!holder an! time before matrit! and good lmp sm amont at

the time of matrit! for the srviving polic!holders. This plan also takes care of li"idit! needs

throgh its loan facilit!.


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+enefits:

#eath benefit$

In case of death dring the polic! term provided all de premims have been paid #eath benefit,

defined as sm of %&m ssred on #eath% and vested &imple (eversionar! )onses and *inal

dditional bons, if an!, shall be pa!able. +here, s ccidental #eath and #isabilit! )enefit (ider$ LICs ccidental #eath and #isabilit!

)enefit (ider is available as an optional rider b! pa!ment of additional premim. In case of

accidental death, the ccident )enefit &m ssred will be pa!able as lmpsm along with the

death benefit nder the basic plan. In case of accidental permanent disabilit! arising de to

accident 4within ? da!s from the date of accident9, an amont e"al to the ccident )enefit

&m ssred will be paid in e"al monthl! installments spread over !ears and ftre


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premims for ccident )enefit &m ssred as well as premims for the portion of )asic &m

ssred which is e"al to ccident )enefit &m ssred nder the polic!, shall be waived.

LIC's JEEVAN RA0./A0 (UIN: 5!N!78V#%

Po&ic ocu)ent

LIC's Jeevan (akshak Plan is a participating non-linked plan which offers a combination ofprotection and savings. This plan provides financial spport for the famil! in case of nfortnate

death of the polic!holder an! time before matrit! and a lmp sm amont at the time of

matrit! for the srviving polic!holder. This plan also takes care of li"idit! needs throgh its

loan facilit!.

+enefits:

eat9 1enefit:

In case of death of the polic!holder dring the polic! term provided all de premims have

been paid,


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3atrit! )enefit$ )asic &m ssred, along with Lo!alt! ddition, if an!, shall be pa!able in

lmp sm on &rvival to the end of the polic! term provided all de premims have been paid.

e2perience the policies nder this plan will be eligible for Lo!alt! ddition. The Lo!alt!

ddition, if an!, is pa!able at sch rate and on sch terms as ma! be declared b! the

Corporation, on death after completion of /th polic! !ear or on Polic!holder srviving to the

matrit!.

,-tiona& +enefit:

LIC>s ccident )enefit (ider$ ccident )enefit (ider is available as an optional rider b!

pa!ment of additional premim. In case of accidental death, the ccident )enefit &m ssred

will be pa!able as lmpsm along with the death benefit nder the basic plan Participation in

Profits$ Provided the polic! is in fll force, then depending pon the Corporation>s

LIC's JEEVAN LA+/(UIN: 5!N"#V#%

Po&ic ocu)ent

LIC's Jeevan Labh is a limited premim pa!ing, non-linked, with-profits endowment plan which

offers a death of tcombination of protection and savings. This plan provides financial spport for

the famil! in case of nfortnate he polic!holder an! time before matrit! and a lmp sm

amont at the time of matrit! for the srviving polic!holder. This plan also takes care of

li"idit! needs throgh its loan facilit!.


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* +enefits:

#eath benefit$

In case of death dring the polic! term, provided all de premims have been paid, #eath

benefit, defined as sm of %&m ssred on #eath%, vested &imple (eversionar! )onses and

*inal dditional bons, if an!, shall be pa!able. +here, %&m ssred on #eath% is defined as

the higher of times of annalised premim or bsolte amont assred to be paid on death i.e.

)asic &m ssred . This death benefit shall not be less than / of all the premims paid as

on date of death.

Premims referred above shall not inclde an! ta2es, e2tra amont chargeable nder the polic!

de to nderwriting decision and rider premim4s9, if an!.

3atrit! )enefit$

%&m ssred on 3atrit!% e"al to )asic &m ssred, along with vested &imple (eversionar!

bonses and *inal dditional bons, if an!, shall be pa!able in lmp sm on srvival to the end

of the polic! term provided all de premims have been paid.

Participation in Profits$

The polic! shall participate in profits of the Corporation and shall be entitled to receive &imple

(eversionar! )onses declared as per the e2perience of the Corporation, provided the polic! is

in fll force.

*inal 4dditional9 )ons ma! also be declared nder the polic! in the !ear when the polic!

reslts into a claim either b! death or matrit!.


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0. :ptional )enefit$

The polic!holder has an option of availing the following (ider benefit4s9$

i9 LIC's ccidental #eath and #isabilit! )enefit (ider 45I6$ /0)0789

ii9 LIC's 6ew Term ssrance (ider 45I6$ /0)089

(ider sm assred cannot e2ceed the basic sm assred.

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product and services LIC.rtf