This is regular premium paying Non-linked, With Profits, Endowment Assurance plan. This plan shall be available to standard life only under non medical limit and the total Sum Assured under this plan shall not exceed Rs.2 Lac.

Eligibility Conditions and Restrictions:-

  • Minimum Age at Entry – 8 Years Completed
  • Maximum Age at Entry – 55 Year (Nearest Birthday)
  • Policy Term  – 10 Years and 20 Years
  • Premium Paying Term – Equals to Policy Term
  • Maximum Maturity Age – 70 Years Nearest Birthday
  • Premium Payment Mode – Monthly (SSS, ECS), Quarterly, Half Yearly and Yearly
  • Minimum Sum Assured – 75,000
  • Maximum Sum Assured – 2,00,000
  • Accident Benefit Rider – 0.50 Per Thousand

Plan Benefits:-

  • Maturity Benefit – Basic Sum Assured + Loyalty Addition
  • Death Benefit – Sum Assured and Loyalty Addition if Policy completed 5 Years ( Basic Sum Assured or 10 Times of Annualized premium or 105% of all premium paid on date of death)
  • Double Accident Benefit – Allowed with Additional Premium
  • Rebate – 2% for Yearly and 1% for Half Yearly
  • NO Medical Check up Required
  • 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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