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About LIC

LIC (Life Insurance Corporation) is an Indian state-owned insurance group and investment company that provides life insurance plans and policies to the people.

The journey of LIC started over six decades ago and we are still confident that, while insurance maybe a business for us, being part of millions of lives every day for the past 61 years has been a process called Trust.

We are delighted by the magnitude of responsibility we possess and realize the lives that are associated with us are very valuable.

LIC is one of the leading insurance companies which is trusted throughout the country.

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LIC Objective:

The main objective of LIC of India is to provide life insurance policies to each and every section of the society and to reach out to rural areas by providing them with ample financial coverage in case of death at a very affordable premium rate.

As a pioneer of life insurance in India, the company offers a wide range of comprehensive insurance products to its diverse customer base and maximizes the ability to savings of the insurance holder. LIC focuses mostly on safeguarding the interests of the insurance holder and acts as trustees in their individual as well as collective abilities.

Ek Shagun Zindagi…

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Why LIC:

LIC whole life insurance plan, this policy provides yearly survival benefits from the end of the premium paying term until maturity. Additionally, it pays out a lump sum amount at the time of maturity or on the demise of the life assured during the policy period.

LIC Newly Launched Plans

LIC Jeevan Amar (Table 855) – New LIC Term Plan

LIC Jeevan Amar Table 855 is a New Term Plan by LIC. Jeevan Amar is a non-linked, non-participating life term insurance plan. LIC Jeevan Amar is offline term plan. The features of this plan are similar to LIC Tech Term Online Term Plan (Table 854). The main difference between these two plans is the amount of sum assured and mode of purchase. LIC Jeevan Amar is available only for offline purchase. Along with LIC Jeevan Amar, another online term plan LIC Tech Term is launched. You can read a review of LIC Tech Term plan here. Prior to this LIC has already launched other term plans such as e-Term, Amulya Jeevan, Anmol Jeevan, etc. However, this plan is different. Here is information about LIC Jeevan Amar.

LIC Tech Term (Table 854) – LIC Online Term Plan

LIC Tech Term (Table 854) is a new online term plan by LIC. LIC Tech Term is non-linked, non-participating pure life insurance term plan. It seems to be one of the best plans by LIC. The launch date of LIC Tech Term is 12th July, 2019. LIC is also planning to launch offline term plan LIC Jeevan Amar.

LIC Plans

LIC Plans at a Glance

Endowment plan is term insurance policy with maturity benefits. In case of demise of policyholder, the Sum Assured along with accrued bonuses (if any) is paid to the beneficiary. On survival of policyholder, the same is paid on the maturity date.

Insurance Plan

LIC's Jeevan Labh is a limited premium paying, non-linked, with-profits endowment plan which offers a combination of protection and 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 surviving policyholder. 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",vested Simple Reversionary Bonuses and Final Additional bonus, if any, shall be payable. Where, "Sum Assured on Death" is defined as the higher of 10 times of annualised premium or Absolute amount assured to be paid on death i.e. Basic Sum Assured . This death benefit shall not be less than 105% of all the premiums paid as on date of death. Premiums referred above shall not include any taxes, extra amount chargeable under the policy due to underwriting decision and rider premium(s), if any. Maturity Benefit: "Sum Assured on Maturity" equal to Basic Sum Assured, along with vested Simple Reversionary bonuses and Final Additional bonus, if any, shall be payable in lump sum on survival to the end of the policy term provided all due premiums have been paid. Participation in Profits: The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation, provided the policy is in full force. Final (Additional) Bonus may also be declared under the policy in the year when the policy results into a claim either by death or maturity.

2. Optional Benefit: The policyholder has an option of availing the following Rider benefit(s):LIC's Accidental Death and Disability Benefit Rider (UIN: 512B209V01)LIC's New Term Assurance Rider (UIN: 512B210V01) Rider sum assured cannot exceed the basic sum assured. For more details on the above riders, refer to the rider brochure or contact LIC'snearest Branch Office.

LIC's Jeevan Lakshya is a participating non-linked plan which offers a combination of protection and savings. This plan provides for Annual Income benefit that may help to fulfill the needs of the family, primarily for the benefit of children, in case of unfortunate death of Policyholder any time before maturity and a lump sum amount at the time of maturity irrespective of survival of the Policyholder. This plan also takes care of liquidity needs through its loan facility.

1.Benefits:

Death Benefit:

On death of the Life Assured before the stipulated Date of Maturity provided the policy is in full force by paying upto-date premiums, Death Benefit, defined as sum of “Sum Assured on Death”, vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable. Where “Sum Assured on Death” is defined as the sum of: Annual Income Benefit equal to 10% of the Basic Sum Assured, which shall be payable from the policy anniversary coinciding with or following the date of death of Life Assured, till the policy anniversary prior to the date of maturity.Assured Absolute Amount equal to 110% of Basic Sum Assured, which shall be payable on due date of maturity; and The vested Simple Reversionary Bonuses and Final Additional Bonus, if any, included in the Death Benefit, shall be payable on due date of maturity.

The Death Benefit defined above shall not be less than 105% of all the premiums paid as on date of death. Premiums referred above exclude tax, extra premium and rider premium(s), if any.

Maturity Benefit:

“Sum Assured on Maturity” equal to Basic Sum Assured, along with vested Simple Reversionary bonuses and Final Additional bonus, if any, shall be payable in lump sum on survival to the end of the policy term provided all due premiums have been paid. Participation in Profits: The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation, provided the policy is in full force. In case of death under a policy which is in full force, the policy shall continue to participate in profits upto the date of maturity and the entire vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable on due date of maturity. Hence, the Simple Reversionary Bonus and Final Additional Bonus, if any, shall be payable under the policy on due date of maturity irrespective of survival of the Life Assured. In case the premiums are not duly paid (except in case of death of the Life Assured under inforce policy), the policy shall cease to participate in future profits irrespective of whether or not the policy has acquired paid up value. However, the policy shall be considered as inforce on death during the grace period. Final Additional Bonus shall not be payable under reduced paid-up policies.

2.Optional Benefits:

The policyholder has an option of availing the following Rider benefit(s): » LIC’s Accidental Death and Disability Benefit Rider (UIN: 512B209V01) » LIC’s New Term Assurance Rider (UIN: 512B210V01) Rider Sum Assured cannot exceed the Basic Sum Assured. For more details on the above Riders, refer to the Rider brochure or contact LIC’s nearest Branch Office.Annual Income Benefit equal to 10% of the Basic Sum Assured, which shall be payable from the policy anniversary coinciding with or following the date of death of Life Assured, till the policy anniversary prior to the date of maturity.Assured Absolute Amount equal to 110% of Basic Sum Assured, which shall be payable on due date of maturity; and

LIC's Jeevan Rakshak Plan is a participating non-linked plan which offers a combination of protection and 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 surviving policyholder. 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 after completion of 5th policy 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 the Corporation’s experience the policies under this plan will be eligible for Loyalty Addition. The Loyalty 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 the maturity.

2.Optional Benefit:

LIC’s 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 be payable as lumpsum along with the death benefit under the basic plan

LIC's JEEVAN PRAGATI PLAN (UIN: 512N306V01) LIC's Jeevan Pragati Plan is a non-linked, with - profits plan which offers a combination of protection and savings. This plan provides for automatic increase in risk cover after every five years during the term of the policy. In addition, this plan also takes care of liquidity needs through 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 ", vested Simple Reversionary Bonuses and Final Additional bonus, if any, shall be payable. Where "Sum Assured on Death" is defined as the higher of 10 times of annualised premium or Absolute amount assured to be paid on death i.e. 100% of the Basic Sum Assured during first 5 policy years, 125% of the Basic Sum Assured during 6th to 10th policy years, 150% of the Basic Sum Assured during 11th to 15 th policy years and thereafter 200% of the Basic Sum Assured. This death benefit shall not be less than 105% of all the premiums paid as on date of death. Premiums referred above shall not include any taxes, extra amount chargeable under the policy due to underwriting decision and rider premium, if any. Maturity Benefit: "Sum Assured on Maturity" equal to Basic Sum Assured, along with vested Simple Reversionary bonuses and Final Additional bonus, if any, shall be payable in lump sum on survival to the end of the policy term provided all due premiums have been paid. Participation in Profits : The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation, provided the policy is in force. The Bonuses shall be declared on the Basic Sum Assured. Final Additional Bonus may also be declared under the policy in the year when the policy results into a claim either by death or maturity.

2. Optional Rider:

The policyholder has an option of availing LIC's Accidental Death and Disability Benefit Rider (UIN: 512B209V01). Rider sum assured cannot exceed the Basic Sum Assured For more details on the above riders, refer to the rider brochure or contact LIC's nearest Branch Office.

LIC's Limited Premium Endowment Plan is a participating non-linked plan which offers a combination of protection and 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 surviving policyholder. 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", vested Simple Reversionary Bonuses and Final Additional bonus, if any, shall be payable. Where, "Sum Assured on Death" is defined as the highest of 10 times of annualised premium or Guaranteed Sum Assured on Maturity i.e. Basic Sum Assured or Absolute amount assured to be paid on death i.e. 125% of Basic Sum Assured . This death benefit shall not be less than 105% of all the premiums paid as on date of death. Premiums referred above exclude service tax, extra premium and rider premium(s), if any.

Maturity Benefit: "Sum Assured on Maturity" equal to Basic Sum Assured, along with vested Simple Reversionary bonuses and Final Additional bonus, if any, shall be payable in lump sum on survival to the end of the policy term provided all due premiums have been paid. Participation in Profits: The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation, provided the policy is in full force. Final (Additional) Bonus may also be declared under the policy in the year when the policy results into a claim either by death or maturity.

2.Optional Benefit:

The policyholder has an option of availing the following Rider benefit(s):LIC’s Accidental Death and Disability Benefit Rider (UIN: 512B209V01)LIC’s New Term Assurance Rider (UIN: 512B210V01)Rider sum assured cannot exceed the basic sum assured. For more details on the above riders, refer to the rider brochure or contact LIC’s nearest Branch Office.

LIC's Navjeevan plan is a Non-Linked" With Profit " Endowment Assurance plan.

Under this plan the premium can be paid either as Lumpsum (Single premium) or as Limited Premium with a premium payment term of 5 years. This plan will also be available through online application process.

LIC’s 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 the deceased policyholder any time before maturity and good lump sum amount at the time of maturity for 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 Final Additional bonus, if any, shall be payable. Where, “Sum Assured on Death” is defined as higher of Basic Sum Assured or 10 times of annualised premium. This death benefit shall not be less than 105% of all the premiums paid as on date of death. Where premiums exclude service tax, extra premium and rider premiums, if any. Maturity Benefit: Basic Sum Assured, along with vested simple reversionary bonuses and Final Additional bonus, if any, shall be payable in lump sum on Survival to the end of the policy term provided all due premiums have been paid. Participation in Profits: The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation, provided the policy is in full force. Final (Additional) Bonus may also be declared under the policy in the year when the policy results into a claim either by death or maturity, provided the policy has run for certain minimum term.

2. Optional Benefit:

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

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

LIC's 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 provides financial protection against death during the policy term with the provision of payment of lumpsum at the end of the selected policy term in case of his/her survival. This plan also takes care of liquidity needs through its loan facility.

LIC's New Jeevan Anand Plan is a participating non-linked plan which offers an attractive combination 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 of the selected policy term in case of his/her survival. This plan also takes care of liquidity needs through 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 on Death and vested Simple Reversionary Bonuses and Final Additional bonus, if any, shall be payable. Where, Sum Assured on Death is defined as higher of 125% of Basic Sum Assured 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, if any. On death of policyholder at any time after policy term: Basic Sum Assured Benefits payable at the end of Policy Term: Basic Sum Assured, along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable in lump sum on survival to the end of the policy term provided all due premiums have been paid. Participation in Profits : The policy shall participate in profits of the Corporation and shall be entitled to receive Simple 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 results into death claim during the policy term or due for the survival benefit payment provided the policy is in full force and has run for certain minimum term.

2. Optional Benefit:

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

LIC’s AADHAAR SHILA (UIN: 512N309V01)

(A non-linked, with-profit endowment assurance life insurance plan) LIC’s Aadhaar Shila Plan offers a combination of protection and savings. This plan is exclusively designed for female lives having Aadhaar Card issued by UIDAI (Unique Identification Authority of India). 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 surviving policyholder.

LIC’s Aadhaar Shila Plan offers a combination of protection and savings. This plan is exclusively designed for female lives having Aadhaar Card issued by UIDAI (Unique Identification Authority of India). 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 surviving policyholder.

LIC’s AADHAAR STAMBH (UIN: 512N310V01)

(A non-linked, with-profit endowment assurance life insurance plan)

LIC’s Aadhaar Stambh Plan offers a combination of protection and savings. This plan is exclusively designed for male lives having Aadhaar Card issued by UIDAI (Unique Identification Authority of India). This plan provides financial support for the family in case of unfortunate death of the policy holder any time before maturity and a lump sum amount at the time of maturity for the surviving policyholder.

Health plans from LIC give you the financial security to meet health related contingencies.

Health Plan

LIC’s Cancer Cover (UIN: 512N314V01)

(A non-linked, non-participating, health insurance plan)
LIC’s Cancer Cover is a regular premium payment health insurance plan which provides financial protection in case the Life Assured is diagnosed with any of the specified Early and/or Major Stage Cancer during the policy term. The policy can be purchased offline as well as online. To purchase the policy online please log on to www.licindia.com . The plan offers two benefit options wherein you have the flexibility to choose the type of Sum Insured at the inception. Option I Level Sum Insured: The Basic Sum Insured shall remain unchanged throughout the policy term.

Option II Increasing Sum Insured:

The benefits payable under the plan shall be based on the Applicable Sum Insured, where the Applicable Sum Insured shall be equal to- ? The Basic Sum Insured for policies taken under Option I; or ? Basic Sum Insured during first year and Increased Sum Insured thereafter, as per the provisions detailed in Option II.

LIC's Jeevan Arogya is a unique non-participating non-linked plan which provides health insurance cover against certain specified health risks and provides you with timely support in case of medical emergencies and helps you and your family remain financially independent in difficult times.

Health has been a major concern on everybody’s mind, including yours. In these days of skyrocketing medical expenses, when a family member is ill, it is a traumatic time for the rest of the family. As a caring person, you do not want to let any unfortunate incident to affect your plans for you and your family. So why let any medical emergencies shatter your peace of mind.

LIC’s Jeevan Arogya gives you: § Valuable financial protection in case of hospitalisation, surgery etc § Increasing Health cover every year § Lump sum benefit irrespective of actual medical costs § No claim benefit § Flexible benefit limit to choose from § Flexible premium payment options

LIC’S JEEVAN AKSHAY- VI (UIN: 512N234V06)

(A Single Premium Non-Linked, Without-Profit, Immediate Annuity Plan)

Introduction
It is an Immediate Annuity plan, which can be purchased by paying a lump sum amount. The plan provides for annuity payments of a stated amount throughout the life time of the annuitant. Various options are available for the type and mode of payment of annuities.

Options Available
The following options are available under the plan

A) Type of Annuity:

i) Annuity payable for life at a uniform rate. ii) Annuity payable for 5, 10, 15 or 20 years certain and thereafter as long as the annuitant is alive. iii) Annuity for life with return of purchase price on death of the annuitant. iv) Annuity payable for life increasing at a simple rate of 3% p.a. v) Annuity for life with a provision of 50% of the annuity payable to spouse during his/her lifetime on death of the annuitant. vi) Annuity for life with a provision of 100% of the annuity payable to spouse during his/her lifetime on death of the annuitant. vii) Annuity for life with a provision of 100% of the annuity payable to spouse during his/ her life time on death of annuitant. The purchase price will be returned on the death of last survivor. You may choose any one. Once chosen, the option cannot be altered.

B) Mode:

Annuity may be paid either at monthly, quarterly, half yearly or yearly intervals. You may opt any mode of payment of Annuity.

LIC’s 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 period and offers annuity on survival to the date of vesting.

1.Benefits:

Benefit on Vesting: Provided the policy is in full force, on vesting an amount equal to the Basic Sum Assured along with accrued Guaranteed Additions, vested Simple Reversionary bonuses and Final Additional bonus, if any, shall be made available to the Life Assured. The following options shall be available to the Life Assured for utilization of the benefit amount.

a) To purchase an immediate annuity

The Life Assured shall have a choice to commute the amount available on vesting to the extent allowed under Income Tax Act. The entire amount available on vesting or the balance amount after commutation, as the case may be, shall be utilized to purchase immediate annuity at the then prevailing annuity rates. Commutation shall only be allowed provided the balance amount is sufficient to purchase a minimum amount 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 of annuity, 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

b) To purchase a new Single Premium deferred pension product from Life Insurance Corporation of India Under this option the entire proceeds available on vesting shall be utilized to purchase a single premium deferred pension product provided the policyholder satisfies the eligibility criteria for purchasing single premium deferred pension product.

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

» Death Benefit:

Death during first five policy years: Provided the policy is in full force, Basic Sum Assured along with accrued Guaranteed Addition shall be paid as lump sum or in the form of an annuity 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 Assured along 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 and balance 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 time shall not be less than 105% of the total premiums paid (excluding taxes, extra premium and rider premium, if any). The amount of annuity will depend on the payable lump sum and the then prevailing immediate annuity rates.

» Guaranteed Additions:

The policy provides for Guaranteed Additions @ Rs.50/- per thousand Basic Sum Assured for each completed year, for the first five years. » Participation in profits: Provided the policy is in full force, depending upon the Corporation’s experience the policies shall participate in profits from 6th year onwards for a Simple Reversionary Bonus at such rate and on such terms as may be declared by the Corporation. Final (Additional) Bonus may also be declared under the policy in the year when the policy results in to a claim either by way of death or on vesting, provided the policy has run for certain minimum term.

2.Optional Benefit:

LIC’s Accidental Death and Disability Benefit Rider: LIC’s Accidental Death and Disability Benefit Rider is available as an optional rider by payment of additional premium under regular premium policies. In case of accidental death, the Accident Benefit Sum Assured will be payable as lumpsum along with the death benefit under the basic plan. In case of accidental disability arising due to accident (within 180 days from the date of accident), an amount equal to the Accident Benefit Sum Assured will be paid in equal monthly instalments spread over 10 years and future premiums for Accident Benefit Sum Assured as well as premiums for the portion of Basic Sum Assured which is equal to Accident Benefit Sum Assured under the policy, shall be waived. If the policy becomes a claim either by way of death or the policy vests before the expiry of the said period of 10 years, the disability benefit instalments which have not fallen due will be paid in lump sum. The Accident Benefit Sum Assured may be opted for an amount upto the Basic Sum Assured subject to minimum of Rs. 1,00,000 and maximum of Rs. 50 lakh (under individual as well as group policies with LIC of India). This benefit will be available only till the vesting age.

LIC’s Bhagya Lakshmi is a non-par limited payment protection oriented plan with return of 110% of total amount of premiums payable on maturity where the premium paying term is 2 years lesser than the policy term.

LIC’s Micro Bachat is a regular premium, non-linked, participating micro-insurance plan which offers a combination of protection and savings. This plan provides financial support for the family in case of unfortunate death of the policyholder during the policy term and a lump sum amount at the time of maturity for the surviving policyholder. This plan also takes care of liquidity needs through its Loan facility. Benefits

a) Maturity Benefit:

On the life assured surviving to the end of the policy term, provided all due premiums have been paid, “Sum Assured on Maturity” along with Loyalty Addition, if any, shall be payable.Where “Sum Assured on Maturity” is equal to Basic Sum Assured.

b) Death benefit -

On death of the Life Assured during the policy term provided all due premiums have been paid: On death during first five years: “Sum Assured on Death” shall be payable. On death after completion of five policy years but before the date of maturity: “Sum Assured on Death” and Loyalty Addition, if any, shall be payable. Where “Sum Assured on Death” is defined as the highest of :

• 10 times of annualised premium;

or

• Sum Assured on Maturity as defined in 7(a) above

or

• Absolute amount assured to be paid on death, i.e. Basic Sum Assured. The death benefit shall not be less than 105% of all the premiums paid as on date of death. Premiums referred above shall not include any taxes, extra amount chargeable under the policy due to underwriting decision and rider premiums, if any.

LIC’s New JEEVAN MANGAL PLAN – MICRO INSURANCE PRODUCT (UIN: 512N287V01)

Features

LIC’s New Jeevan Mangal is a protection plan with return of premiums on maturity, where you may pay the premiums either in lump sum or regularly over the term of the policy. This plan has an in-built Accident Benefit which provides for double risk cover in case of accidental death.

LIC's NEW ENDOWMENT PLUS (UIN: 512L301V01)

NOTE:- IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER. THE LINKED INSURANCE PRODUCTS DO NOT OFFER ANY LIQUIDITY DURING THE FIRST FIVE YEARS OF THE CONTRACT. THE POLICYHOLDERS WILL NOT BE ABLE TO SURRENDER/ WITHDRAW THE MONIES INVESTED IN LINKED INSURANCE PRODUCTS COMPLETELY OR PARTIALLY TILL THE END OF FIFTH YEAR.

LIC's New Endowment Plus is a unit linked non-participating endowment assurance plan which offer s investment cum insurance cover during the term of the policy. This plan is specially designed for you to provide a very good combination of protection and long term savings and also provides you greater flexibility to build a better life and realise your dreams. You have a choice of investing premiums in one of the four types of investment funds available. Premiums paid after deduction of Premium Allocation Charge will purchase units of the Fund type chosen. The unit fund is subject to various charges and value of units may increase or decrease, depending on Net Asset Value (NAV).

1. Payment of Premiums: You may pay premiums regularly at yearly, half-yearly, quarterly or monthly (through ECS mode only) intervals over the term of the policy.

A grace period of 30 days will be allowed for payment of yearly or half-yearly or quarterly premiums and 15 days for monthly (ECS) premiums.

2. Benefits:

A) Death Benefit: On death of the Life Assured before the stipulated Date of Maturity provided policy is inforce, then On death before the Date of Commencement of Risk: An amount equal to the Policyholder's Fund Value shall be payable. On death after the Date of Commencement of Risk: An amount equal to the higher of Basic Sum Assured or Policyholder's Fund Value shall be payable. Where, Basic Sum Assured is (10 * Annualized Premium) or (105% of the total premiums paid), whichever is higher.

B) Maturity Benefit:

On Life Assured surviving the date of maturity provided the policy isinforce, an amount equal to Policyholder's Fund Value shall be payable.

3. Optional Benefits:

The policyholder has an option of availing LIC's Linked Accidental Death Benefit Rider (UIN: 512A211V01).? For more details on the above Rider, refer to the Rider brochure or contact LIC'snearest Branch Office.

LIC Online Services

With the help of online services, the insurance holder can now avail many more facilities that were previously available at the branch office. LIC e-service is an initiative taken by LIC to offer its customers on demand servies within a few clicks.
Policy schedule

It is an outline of the cover provided under the policy, it shows the details of the policyholder, what the policyholder does and the cover to the relevant limits sums insured and excess.

Loan status

Provides the status of ‘current’ when one or more payments have been completed and no payments are due. Helps you track you loan’s status

Claim status

Your claim will be placed in "deferred", "accepted", "denied" or "closed" status,depending on where it is in the process. If you're ever unsure about what your claim status means, contact your adjuster.

Premium paid certificate

It is a document that displays the total premium that you have paid for all your policies in a specific financial year. This document can be used as an investment proof for tax filing.

Premium due calendar

It is an online tool which calculates the total amount of life insurance plans and also provides their dues monthly.

Eservice registration

Electronic services are very viable in today’s day and age. An individual can follow the five simple steps to register online – personal details, contact details, address details, password details, and verification details.

Grievances registration

We don’t fail to deal with complaint within the specified period. Issues with a complaint can be resolved by making a complaint to the Grievance Redressal Officer of the branch.

Claim history

It is a centralized database that provides a seven year history of auto and homeowner insurance claims.

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Unlimited Income, Two / Four Wheeler, Dreamed House / Office, Status in Society, International Status, Job Satisfaction, Peaceful Life.

You can earn more than rs 50,000/month, get 35% commission from the premium, high income without investment.

As Years pass by, the Renewal Commission starts building up. There by assuring you a pension for the next 20 to 25 Years.

Construction No retirement, lifelong income (you can get renewal commission lifelong), eligible for pension.

With the above recurring income-feature of the insurance compensation your income goes on steadily increasing every year. Your renewal commission will grow faster every year.

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