Eligibility Conditions and Restrictions:-

  • Minimum Age at Entry – 18 Years Completed
  • Maximum Age at Entry – 50 Year (Nearest Birthday)
  • Policy Term  – 13 to 25 Years
  • Premium Paying Term – Policy Term – 3 years
  • Maximum Maturity Age – 65 Years Nearest Birthday
  • Premium Payment Mode – Monthly (SSS, ECS), Quarterly, Half Yearly and Yearly
  • Minimum Sum Assured – 100,000
  • Maximum Sum Assured – No limit

Plan Benefits:-

  • Maturity Benefit – 110% SA + Bonus + FAB
  • Death Benefit – (a) 10% SA payable on every policy anniversary after Death till Maturity, and (b) on Maturity date again 110%SA + Bonus + FAB.
  • Double Accident Benefit – Allowed with Additional Premium
  • Income Tax Benefit – Premiums paid under life insurance policy are exempted from tax under Section 80C and the maturity received  (returns) are exempted from tax under Section 10 (10A).
  • Suicide Clause – If life insurance policy holder commits suicide at any time within 12 months from date of commencement of risk LIC will not entertain any claim under this policy.
  • Free Look Period – If policy holder is not satisfied with “Terms and Condition” of policy he/she may return policy to LIC stating reason within 15 days from date of receipt of policy.
  • Loan – Allowed after payment of premiums for at least 3 years.
  • Grace Period: 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.

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