LIC AADHAAR SHILA Plan No. 844 Details & Calculator

• Non-linked 
• With-profits  
• Regular Premium Endowment Assurance Plan

LIC AADHAAR Shila Plan 844 Features :

• Exclusively designed for Female Lives 
• AADHAAR Card issued by UIDAI mandatory 
• Available for Standard healthy lives 
• Non- Medical 
• S.A. maximum 3 lakhs

LIC AADHAAR Shila Plan 844 Maturity Benefit's :

On survival to the end of the policy term “Sum Assured on Maturity” along with Loyalty Addition, if any, shall be payable.

Where “Sum Assured on Maturity” is equal to Basic Sum Assured.

LIC AADHAAR Shila Plan 844 Maturity Death Benefit:

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 higher of 10 times of annualised premium OR Absolute amount assured to be paid on death, i.e. 110 % of Basic Sum Assured.

The death benefit shall not be less than 105% of all the premiums paid as on date of death.  

LIC AADHAAR Shila Plan 844 Accident Benefit Rider :

LIC’s Accident Benefit Rider is available as an optional rider by payment of additional premium during the term of the policy. Under an in force policy the LIC’s Accident Benefit Rider can be opted for at any time within policy term of the Base Policy provided, the outstanding policy term of the Base Policy is at least five years.

LIC AADHAAR Shila Plan 844 Auto Cover Period:

“Auto Cover Period” under a paid-up policy is the period from due date of first unpaid premium (FUP), which includes the Grace Period. The applicable duration of Auto Cover Period shall be as under:


If at least three full years’ but less than five full years’ premiums have been paid in respect of a policy and any subsequent premium is not duly paid: Auto Cover Period of six months from the due date of first unpaid premium (FUP) shall be available.


If at least five full years’ premiums have been paid in respect of a policy and any subsequent premium is not duly paid: Auto Cover Period of two years from the due date of first unpaid premium (FUP) shall be available.

The benefits payable under a paid-up policy during Auto Cover Period shall be as follows:

On Death:

Death Benefit, as payable under an inforce policy will be paid after deduction of


(a) the unpaid premium(s) in respect of the base policy with interest thereon up to the date of death, and


(b) the balance premium(s) for the base policy falling due from the date of death and before the next policy anniversary, if any.  

On Maturity:

“Maturity Paid-up Sum Assured” is payable and shall be equal to [(Number of premiums paid/Total Number of premiums payable) x (Sum Assured on Maturity)]. In addition to the Maturity Paid-up Sum Assured, Loyalty Addition, if any, shall also be payable on maturity.

LIC AADHAAR Shila Plan 844 ELIGIBILITY CONDITIONS AND RESTRICTIONS:

For Base Plan:

Minimum Age at entry : 8 years (completed) 

Maximum Age at entry : 55 years (nearest birthday)
Minimum Policy Term : 10 years
Maximum Policy Term : 20 years
Maximum Age at Maturity : 70 years (nearest birthday)
Minimum Basic Sum Assured per life : Rs. 75,000/-
Maximum Basic Sum Assured per life : Rs. 300,000/-  

The Basic Sum Assured shall be in multiples of Rs.5,000/- from Basic Sum Assured Rs. 75,000 to Rs. 1,50,000/- and Rs.10,000/- for Basic Sum Assured above Rs.1,50,000/-.

“The total Basic Sum Assured under all policies issued to an individual under this plan shall not exceed Rs. 3 lakh”.

These wordings have to appear in the First Premium Receipt (FPR) and in the policy document for every policy under LIC AADHAAR SHILA plan.   Age at entry for the Policyholder is to be taken as age nearest birthday except for the minimum age at entry i.e. 8 years, where it is in completed years.

LIC AADHAAR Shila Plan 844 Eligibility Conditions and Restrictions:

For Accident Benefit Rider:

Minimum Entry Age : 18 years (completed)
Maximum Entry Age : The cover can be opted for at any time within policy term of the Base Policy provided, the outstanding policy term of the Base Policy is at least five years.

Maximum cover ceasing Age : Same as under the base plan.
Minimum Accident Benefit Sum Assured : Rs. 20,000/-
Maximum Accident Benefit Sum Assured: An amount equal to the Basic Sum Assured under the Basic Plan subject to the maximum of Rs.100 lakh overall limit taking all existing policies of the Life Assured under individual as well as group schemes including policies with inbuilt accident benefit taken with Life Insurance Corporation of India and the Accident Benefit Sum Assured under the new proposal into consideration.  

The Accident Benefit Sum Assured shall be in multiples of Rs. 5,000/-.

LIC AADHAAR Shila Plan 844 MODE OF PREMIUM PAYMENT :

The modes of premium payment allowable are :

• Yearly 

• Half Yearly 

• Quarterly 

• Monthly ( through NACH only or through salary deductions)

LIC AADHAAR Shila Plan 844 REBATES :

The rebates for base plan are as under :

Mode Rebate:

Yearly mode : 2% of tabular premium
Half-yearly mode : 1% of tabular premium
Quarterly and monthly mode : NIL

High Basic Sum Assured Rebate: 

Basic Sum Assured Rebate (Rs.) 
75,000 to 1,90,000 : Nil
2,00,000 to 2,90,000 : 1.50 ‰  Basic Sum Assured
3,00,000 : 2.00 ‰ Basic Sum Assured

LOAN:

Loan facility is available under LIC AADHAAR SHILA plan, after payment of premiums for at least 3 full years subject to certain conditions.

SURRENDER VALUE:

LIC AADHAAR SHILA policy can be surrendered at any time during the policy term provided at least three full years’ premiums have been paid.  

LIC AADHAAR Shila Plan 844 Premium Calculation Chart

Other Plans :  LIC New Jeevan Anand Plan Table No - 815, LIC New Endowment Plan Table No - 814

LIC AADHAAR STAMBH Plan No. 843 Details & Calculation

• Non-linked 
• With-profits 
• Regular Premium Endowment Assurance Plan

LIC AADHAAR STAMBH Plan 843 Features :

• Exclusively designed for Male Lives 
• AADHAAR Card issued by UIDAI mandatory 
• Available for Standard healthy lives 
• Non- Medical 
• S.A. maximum 3 lakhs

LIC AADHAAR STAMBH Plan 843 Maturity Benefit's :

On survival to the end of the policy term “Sum Assured on Maturity” along with Loyalty Addition, if any, shall be payable.

Where “Sum Assured on Maturity” is equal to Basic Sum Assured.

LIC AADHAAR STAMBH Plan 843 Maturity Death Benefit:

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 higher of 10 times of annualised premium 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.  

LIC AADHAAR STAMBH Plan 843 Accident Benefit Rider :

LIC’s Accident Benefit Rider is available as an optional rider by payment of additional premium during the term of the policy. Under an in force policy the LIC’s Accident Benefit Rider can be opted for at any time within policy term of the Base Policy provided, the outstanding policy term of the Base Policy is at least five years.

If this benefit is opted for, and if Life Assured is involved in an accident, leading to death and such incident shall occur within 180 days from the date of accident then an additional amount equal to the Accident Benefit Sum Assured is payable. However, the policy shall have to be in force at the time of accident irrespective of whether or not it is in force at the time of death.

LIC AADHAAR STAMBH Plan 843 Auto Cover Period:

“Auto Cover Period” under a paid-up policy is the period from due date of first unpaid premium (FUP), which includes the Grace Period. The applicable duration of Auto Cover Period shall be as under:


If at least three full years’ but less than five full years’ premiums have been paid in respect of a policy and any subsequent premium is not duly paid: Auto Cover Period of six months from the due date of first unpaid premium (FUP) shall be available.


If at least five full years’ premiums have been paid in respect of a policy and any subsequent premium is not duly paid: Auto Cover Period of two years from the due date of first unpaid premium (FUP) shall be available.

The benefits payable under a paid-up policy during Auto Cover Period shall be as follows:

On Death:

Death Benefit, as payable under an inforce policy will be paid after deduction of


(a) the unpaid premium(s) in respect of the base policy with interest thereon up to the date of death, and


(b) the balance premium(s) for the base policy falling due from the date of death and before the next policy anniversary, if any.  

On Maturity:

“Maturity Paid-up Sum Assured” is payable and shall be equal to [(Number of premiums paid/Total Number of premiums payable) x (Sum Assured on Maturity)]. In addition to the Maturity Paid-up Sum Assured, Loyalty Addition, if any, shall also be payable on maturity.

LIC AADHAAR STAMBH Plan 843 ELIGIBILITY CONDITIONS AND RESTRICTIONS:

For Base LIC AADHAAR STAMBH Plan:

Minimum Age at entry : 8 years (completed) 

Maximum Age at entry : 55 years (nearest birthday)
Minimum Policy Term : 10 years
Maximum Policy Term : 20 years
Maximum Age at Maturity : 70 years (nearest birthday)
Minimum Basic Sum Assured per life : Rs. 75,000/-
Maximum Basic Sum Assured per life : Rs. 300,000/-  

The Basic Sum Assured shall be in multiples of Rs.5,000/- from Basic Sum Assured Rs. 75,000 to Rs. 1,50,000/- and Rs.10,000/- for Basic Sum Assured above Rs.1,50,000/-.

“The total Basic Sum Assured under all policies issued to an individual under LIC AADHAAR STAMBH plan shall not exceed Rs. 3 lakh”.

These wordings have to appear in the First Premium Receipt (FPR) and in the policy document for every policy under LIC AADHAAR STAMBH plan.   Age at entry for the Policyholder is to be taken as age nearest birthday except for the minimum age at entry i.e. 8 years, where it is in completed years.

LIC AADHAAR STAMBH Plan 843 Eligibility Conditions and Restrictions:

For Accident Benefit Rider:

Minimum Entry Age : 18 years (completed)
Maximum Entry Age : The cover can be opted for at any time within policy term of the Base Policy provided, the outstanding policy term of the Base Policy is at least five years.

Maximum cover ceasing Age : Same as under the base plan.
Minimum Accident Benefit Sum Assured : Rs. 20,000/-
Maximum Accident Benefit Sum Assured: An amount equal to the Basic Sum Assured under the Basic Plan subject to the maximum of Rs.100 lakh overall limit taking all existing policies of the Life Assured under individual as well as group schemes including policies with inbuilt accident benefit taken with Life Insurance Corporation of India and the Accident Benefit Sum Assured under the new proposal into consideration.  

The Accident Benefit Sum Assured shall be in multiples of Rs. 5,000/-.

LIC AADHAAR STAMBH Plan 843 MODE OF PREMIUM PAYMENT :

The modes of premium payment allowable are :

• Yearly 

• Half Yearly 

• Quarterly 

• Monthly ( through NACH only or through salary deductions)

LIC AADHAAR STAMBH Plan 843 REBATES :

The rebates for base plan are as under :

Mode Rebate:

Yearly mode : 2% of tabular premium
Half-yearly mode : 1% of tabular premium
Quarterly and monthly mode : NIL

High Basic Sum Assured Rebate: 

Basic Sum Assured Rebate (Rs.) 
75,000 to 1,90,000 : Nil
2,00,000 to 2,90,000 : 1.50 ‰  Basic Sum Assured
3,00,000 : 2.00 ‰ Basic Sum Assured

LOAN:

Loan facility is available under LIC AADHAAR STAMBH plan, after payment of premiums for at least 3 full years subject to certain conditions.

SURRENDER VALUE:

The policy can be surrendered at any time during the policy term provided at least three full years’ premiums have been paid.  

LIC AADHAAR STAMBH Plan 843 Premium Calculation Chart

Other Plans :  LIC New Jeevan Anand Plan Table No - 815, LIC New Endowment Plan Table No - 814

LIC New Bima Diamond Money Back Plan 841

LIC Bima Diamond plan is the new Money Back insurance policy from LIC of India. It is a non-linked, traditional money back insurance policy. This plan provides financial support for the family not only during the policy term but also beyond the policy term during Extended Cover period.

LIC Bima Diamond Plan Features

LIC Bima Diamond Plan Benefit & Features

Minimum Sum Assured

The minimum sum assured for the LIC Bima Diamond Plans should be Rs 1 lac.

Maximum Sum Assured

This plan offers maximum Rs 5 lacs of Sum Assured. You cannot take sum assured of 5 lacs under this plan. For more sum assured you can take LIC Endowment Plan 814.

Policy Term / Premium Paying Term

16/10, 20/12 & 24/15 years where 16,20 & 24 is Policy Term while 10, 12 & 15 are premium paying term.

LIC Bima Diamond 841 Maturity Illustration 10 Years Premium Paying Term

Above Illustration is for

Age                                      : 30 years
Sum Assured                       : 5,00,000 (5 Lacs)
Premium Paying Term          : 10 years
Policy / Maturity Term           : 16 years
Assumed Loyalty Addition    : 340 per 1000

Minimum age at Entry

LIC is a Money back plan so you can take it for your son or daughter who are older then 18 years or for yourself. The minimum age for this policy is 14 years (nbd).

Maximum age at Entry

16 Years Policy Term : 50 years (nbd)

20 Years Policy Term : 45 years (nbd)

24 Years Policy Term : 41 years (nbd)

Maximum age at Maturity

16 Years Policy Term          : 66 years (nbd)

20 & 24 Years Policy Term : 65 years (nbd)

Extended Cover Period

Bima Dimaond covers extended cover period, i.e for 16/10 years term policy extended cover would be next 8 years i.e. you will be covered for 24 years while for 20/12 policy you will be covered for 20 years & for 24/15 plan you will be covered for 36 years. This period starts after elapsation of  policy term and applicable for inforce policies as on the date of maturity.

Date of Commencement of Risk

Under this plan, risk will be immediately commenced from the date of issue policy.

Date of issuance of policy is a date when a proposal after underwriting is accepted as a policy and the contract gets effected between LIC and Customer.

Auto Cover 

Auto Life cover is provided for 2 years even if the premium is not paid. This benefit will be extended only if 5 policy years are completed.

LOAN

Loan facility is available in this plan only after payment of premiums are paid at least 3 full years with few below conditions:

For Inforce policies : Upto 90%

For paid up policies : Upto 80%

Percentage may vary time to time. For more details contact us.

LIC Bima Diamond 841 Maturity Illustration 12 Years Premium Paying Term

Above Illustration is for

Age                                      : 30 years
Sum Assured                       : 5,00,000 (5 Lacs)
Premium Paying Term          : 12 years
Policy / Maturity Term           : 20 years
Assumed Loyalty Addition    : 500 per 1000

Death Benefits 

In case of the death of Life Assured before the date of Maturity

During the first 5 policy years “Sum Assured on Death” will be paid to the nominee.

After completion of 5 policy years but before the date of maturity: “Sum Assured on Death” and Loyalty addition (if any) will be paid to the nominee of the Life Assured.

The death benefit will not be less than the 105% of all the premium paid in the policy as at the date of death of the life assured. (The premium referred above will not include any taxes, extra amount charged due to underwriting decision and rider premium, if any.)

In case of the death of Life Assured during the extended cover period

An amount equal to 50% of Basic sum assured will be paid to the nominee.

LIC’s Accidental Death and Disability Benefit Rider

If this benefit is opted for, an additional amount equal to “Accidental Benefit sum Assured” is Payable on death due to Accident, provided the rider is inforce at the time of the accident. In the case of the accidental permanent disability (within 180 days from the date of accident) an additional amount equal to “Accidental Benefit sum Assured” is Payable in equal monthly installments spread over 10 years. The future premium will be waived for the accidental benefit rider and premiums for the portion of Basic sum assured will be waived. This rider can be taken at the inception of the policy or before the premium term is over.

LIC’s New Term Assurance Rider

If this benefit is opted for, an additional amount equal to “Term Assurance Rider sum Assured” is Payable on death to nominee, provided the rider is inforce at the time of the death of the Life Assured. This rider can be taken at the inception of the policy.

Survival Benefits

If life assured survives to the specified duration during the policy term, then a fixed percentage of Basic Sum Assured is  will be payable to the life assured. The fixed percentage in various terms are mentioned below:

Money Back

Guaranteed Money back every 4 Years, during the policy term. Bima Dimaond Money back after every 4 yrs 15% in 16 and 20 yrs term plan  and 12% of BSA (Basic Sum Assured) in 24 yrs term.

Example:

For Policy Term 16 years :
15% of BSA at the end of each of 4, 8, 12 policy year. It means if you have taken a Sum Assured of 5 Lacs, you will get 75 thousand 4th, 8th & 12th policy year.

For Policy Term 20 years :
15% of BSA at the end of each of 4, 8, 12, 16 policy year. It means if you have taken a Sum Assured of 5 Lacs, you will get 75 thousand 4th, 8th , 12th & 16th policy year.

For Policy Term 24 years :
12% of BSA at the end of each of 4, 8, 12, 16, 20 policy year. It means if you have taken a Sum Assured of 5 Lacs, you will get 60 thousand 4th, 8th , 12th, 16th & 20th  policy year.

LIC lic-bima-diamond-money-back-plan-841-presentation

LIC Bima Diamond Money Back Plan 841 Presentation

LIC Money Back Plan 841 Presentation 

If the Life Assured survives till the end of the policy term, “Sum Assured on Maturity” along with Loyalty Addition, if any will be payable to the Life Assured.

Where “Sum Assured on Maturity” in this is

55% of Basic Sum Assured in policy term 16 years

40% of Basic Sum Assured in Policy terms 20 and 24 years.

Optional Benefits

Proposer can opt for the optional riders by payment of additional premium. Benefits under the optional rider will be available during the policy term only.

LIC Bima Diamond 841 Maturity Benefit Illustration with 15 Years Premium Paying Term

Above Illustration is for

Age                                      : 30 years
Sum Assured                       : 5,00,000 (5 Lacs)
Premium Paying Term          : 15 years
Policy / Maturity Term           : 24 years
Assumed Loyalty Addition    : 815 per 1000

LIC BIMA DIAMOND PREMIUM CHART CALCULATOR 841

Other Plans :  LIC New Jeevan Anand Plan Table No - 815  LIC New Endowment Plan Table No - 814

LIC New Jeevan Pragati Table no 838 Details

This is a non-linked, with-profits Endowment Assurance plan. The main feature of this Jeevan Pragathi 838 plan is the ‘sum assured on death’ (part of death benefit) automatically increases after every five years during the term of the policy.

Key Features & Eligibility Conditions of LIC Jeevan Pragati Plan

ELIGIBILITY CONDITIONS AND RESTRICTIONS

• Minimum Basic Sum Assured (payable on maturity) : Rs. 1,50,000/-
• Maximum Basic Sum Assured : No Limit (Maturity Sum Assured shall be in multiple of Rs. 10,000/- only)
• Minimum Policy Term : 12 years
• Maximum Policy Term  : 20 years
• Minimum Age at entry for Life Assured : 12 years (completed)
• Maximum Entry Age : 45 years (nearer birthday)
• Maximum Age at Maturity for Life Assured : 65 years
• Premium payment mode : Yearly, half-yearly, quarterly & monthly.
• Accidental Death & Disability Benefit Rider is available on payment of additional premium.
  • Minimum Accident Benefit Sum Assured is Rs 10,000
  • Maximum Accident Benefit Sum Assured is an amount equal to the Basic Sum Assured subject to the maximum of Rs 1 cr.
  • Minimum entry age for the rider is 18 years

Benefits under LIC’s Jeevan Pragati policy

• Death Benefit under Jeevan Pragati Plan : On death of the Life Assured during the policy term, the Death Benefit  which is ‘Sum Assured on Death’ + Vested Simple Reversionary Bonuses + Final additional bonus, if any, shall be payable to the nominee. The Sum assured on death automatically increases every fiver years. Where “Sum Assured on Death” is defined as the higher of  a) 10 times of annualized premium (or) b) Absolute amount assured to be paid on death, which is as under;
  • i) During the first five policy years : 100% of the Basic Sum Assured.
  • ii) During 6th to 10th policy years : 125% of the Basic Sum Assured.
  • iii) During 11th to 15th policy years : 150% of the Basic Sum Assured.
  • iv) During 16th to 20th policy years : 200% of the Basic Sum Assured.
• Maturity Benefit payable under LIC Jeevan Pragati Policy : On survival to the end of the policy term, the maturity benefit which is ‘Sum Assured on Maturity’ + Simple Reversionary Bonuses + Final Additional bonus (FAB) if any, shall be payable to the policy holder. Sum Assured on Maturity is equal to Basic Sum Assured.
• Final Additional Bonus shall not be payable under paid-up policies..
• The Bonuses shall be declared on the Basic Sum Assured.
• The date of commencement of risk under Jeevan Pragati plan will be immediately from the date of issuance of policy.

MODE OF PREMIUM PAYMENT:

  The modes of premium payment allowable are Yearly. Half Yearly. Quarterly, and Monti (ECS only or through salary deductions).

GRACE PERIOD FOR PAYMENT OF PREMIUM:

• A grace period of one calendar month but not less than 30 days will be allowed for Quarterly, Half Yearly  and Yearly premium paid and 15 days for monthly mode of payment.
• If the death of the Life Assured occurs within the grace period but before the premium then due, the policy will be treated as in-force and the benefits will be paid deduction of the said unpaid premium and also the unpaid premiums falling due before next policy anniversary
• If premium is not paid before the expiry of the days of grace, the policy lapses.
• If the Policy has not lapsed and the claim is admitted in case of death under the where the mode of payment of premium is other than yearly, unpaid premium(s).
• The above grace period will also apply to rider premium as the rider premium is to be along with the premium of the base plan.

REBATES:

The rebates for base plan are as under:

Mode Percentage

• Yearly mode : 2% of tabular premium
• Half-yearly mode : 1% of tabular premium
• Quarterly and monthly mode : NIL

High Basic Sum Assured Rebate:

• 1,50,000 to 2,90,000 : Nil
• 3.00,000 to 4,90,000 : 1.50 % B.S.A
• 5,00,000 to 9.90.000 : 2.00 % B.S.A
• 10.00.000 and above : 2.25 %° B.S.A
• BSA –  Basic Sum Assured

Lic Jeevan Pragati Plan 838

LIC New Jeevan Pragati Payment Plan 838 Details

Lic New Jeevan Pragati Plan Table 838 Features

Lic Jeevan Pragati Plan 838 Premium Calculator

Other Plans :   LIC Jeevan Anand Policy Table 815, LIC New Endowment Plan 814

LIC JEEVAN LABH Table No 836 ENDOWMENT PLAN

LIC JEEVAN LABH- (T. NO.836) Plan

✅ This is a ltd. Premium Paying non linked with profit endowment plan.

✅ On Death - S.A + BONUS + FAB
SA NOT LESS THAN 105% OF TOTAL PREMIUM PAID AS ON DATE OF DEATH.

✅ Maturity Benefit-
SA ON MATURITY + BONUS + FAB

✅ TR & DAB IS OPTIONAL

✅ Min Age @ entry- 8 years completed

✅ Max maturity Age-75 nbd

✅ Term & premium paying term -16 (10), 21 (15), 25 (16)

✅ Min SA 2 LAC. Then in multiplication of 10,000.

✅ MAXI. NO LIMIT.

✅ Commencement of risk- immediate.

✅ Modes allowed.
ALL With ECS & SSS.

✅ Loan - yes.

✅ Back dating allowed.

✅ PROPOSAL FORMS 302/342/362 AS APPLICABLE.

LIC Jeevan Labh Premium Chart 

Jeevan Labh Premium Chart

LIC Children Money Back Jeevan Tarun Plan 834 Details

LIC Children Money Back JEEVAN TARUN 834 plan

 is a participating non-linked limited premium payment plan which offers an attractive combination of protection and saving features for children. This plan is specially designed to meet the educational and other needs of growing children through annual Survival Benefit payments from ages 20 to 24 years and Maturity Benefit at the age of 25 years. It is a flexible plan wherein at proposal stage the proposer can choose the proportion of Survival Benefits to be availed during the term of the policy as per the following four options:

Option                      Survival Benefit                       Maturity Benefit

Option 1                      No survival benefit                        100% of Sum Assured

Option 2      5% of Sum Assured every year for 5 years 75% of Sum Assured

Option 3    10% of Sum Assured every year for 5 years 50% of Sum Assured

Option 4    15% of Sum Assured every year for 5 years 25% of Sum Assured

Where, Survival Benefit is the annual payment of a fixed percentage of Sum Assured (as defined in the table above) every year starting from policy anniversary coinciding with or following the completion of 20 years of age and thereafter on each of the next 4 policy anniversaries and Maturity Benefit is a fixed percentage of Sum Assured (as defined in the table above) along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, on maturity.

The chosen option shall become a part of the policy contract and no further change in option shall be allowed.

In addition, this plan also takes care of liquidity needs through its loan facility.

The plan can be purchased by any of the parent or grand parent for a child aged 0 to 12 years.

Benefits available under an inforce policy:

LIC Children Jeevan Tarun Death Benefit: 

On death during the policy term (before commencement of risk): 

In case of death of the Life Assured, return of premium/s paid excluding taxes, extra premium and rider premium, if any, without interest shall be payable.

On death during the policy term (after commencement of risk):

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 10 times of annualized premium or Absolute amount Assured to be paid on Death i.e. 125% Sum Assured.

This Death Benefit shall not be less than 105% of the total premiums paid as on date of death.

The premiums mentioned above exclude taxes, extra premium and rider premium, if any.

LIC Jeevan Tarun Survival Benefit:

A fixed percentage of Sum Assured shall be payable on each policy anniversary coinciding with or immediately following the completion of 20 years of age and thereafter on each of next four policy anniversaries. These fixed percentages shall depend on the Option chosen at the proposal stage and for various Options the percentages are as given below:

Policy Anniversary coinciding/ following completion of ages Percentage of Sum Assured to be paid as Survival Benefit

                          Option 1            Option 2 Option 3                Option 4

20 to 24 years    Nil       5% each year        10% each year 15% each year

Policyholder has to opt for any one of the options above at the proposal stage only.

LIC Jeevan Tarun Maturity Benefit: In case of Life Assured surviving the stipulated date of maturity, a fixed percentage of Sum Assured shall be payable on maturity for inforce maturing policies. The fixed percentage under different Options is as below:

Maturity Age Option 1 Option 2 Option 3 Option 4

25 year          100% 75%         50%           25%

In addition to the above, vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall also be payable.

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 inforce.

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.

LIC Jeevan Tarun Optional Rider:

LIC’s Premium Waiver Benefit Rider (UIN: 512B204V01), on the life of proposer may be opted for by payment of additional premium.

LIC Children Jeevan Tarun Policy Premium Chart Details

LIC Children Jeevan Tarun Premium Chart Table No 834

Lic Jeevan Lakshya Plan 833 - (Kanyadan Policy) Details

LIC’s Jeevan Lakshya or LIC Kanyadan Policy is a limited premium paying conventional With-Profits Endowment Assurance plan. 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 independent of survival of the Policyholder. The benefits and other details of the plan are given below.

BENEFITS:

The benefits payable under an inforce policy are as under:

a) Benefits payable on death:

Death Benefit, defined as sum of “Sum Assured on Death”, vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable at various durations as mentioned below:

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.

The premiums mentioned above exclude taxes (including service tax), extra premium and rider premium(s), if any.

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b) Benefits payable on maturity:

On survival to the end of the policy term provided all due premiums have been paid, “Sum Assured on Maturity” along with vested Simple Reversionary bonuses and Final Additional bonus, if any, shall be payable. Where Sum Assured on Maturity is equal to Basic Sum Assured.

c) 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, if any, at such rate and on such terms may also be declared under the policy as on due date of maturity.

In case of death under a policy which is in full force, the policy shall continue to participate in profits up to the due 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.

OPTIONAL BENEFIT:

This plan provides the following optional rider by payment of additional premium:

i) LIC’s Accidental Death and Disability Benefit Rider: LIC’s Accidental Death and Disability Benefit Rider (AD&DB) is available as an optional rider by payment of additional premium. This rider can be opted for at any time within the premium paying term of  the Basic Plan provided the outstanding premium paying term is at least 5 years. The benefit cover under this rider shall be available during the policy term.

If this benefit is opted for, an additional amount equal to the Accident Benefit Sum Assured is payable on death due to accident, provided the rider is inforce at the time of accident. In case of accidental permanent disability (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. If the policy becomes a claim by way of death or maturity before the expiry of the said period of 10 years, the disability benefit instalments which have not fallen due will be paid along with the claim amount.

The premium for this rider shall be paid during the premium paying term of the Basic Plan.

If there be more policies than one and if the total Accident Benefit exceeds Rs.100 lakhs, the benefits shall apply to the first Rs. 100 lakhs Sum Assured in order of date of policies issued.

Accidental Death and Disability Benefit Rider shall not acquire any paid-up value and the rider benefit will cease to apply, if policy is in lapsed condition. 

ii) LIC’s New Term Assurance Rider : - LIC’s New Term Assurance Rider is available at the inception of the policy on payment of additional premium. The additional premium for this Rider will need to be paid along with the premium of the Basic Plan and any other rider, if opted for, during the premium paying term of the policy. If this rider is opted for, on death of the Life Assured during the policy term an additional amount equal to Term Assurance Rider Sum Assured shall be payable provided the rider cover is inforce.

If there be more policies than one and if the total Term Assurance Rider Sum Assured exceeds Rs. 25 lakhs, the benefits shall apply to the first Rs. 25 lakhs Term Assurance Rider Sum

Assured in order of date of policies issued.

Eligibility Conditions and Restrictions:

For Basic Plan:

1) Minimum Age at entry for Life Assured   : 18 years (last birthday)

2) Maximum Age at entry for Life Assured   : 50 years (nearer birthday)

3) Maximum Maturity Age   : 65 years (nearer birthday)

4) Policy Term   : 13 to 25 years

5) Premium paying Term   : (Policy Term - 3) years

6) Minimum Basic Sum Assured   : Rs. 1,00,000/-

7) Maximum Basic Sum Assured   : No Limit

The Basic Sum Assured shall be in multiples of Rs. 10,000/- only.

    LIC Sukanya Samriddhi Yojna Premium Calculator

 Above Illustration is for

Age                                      : 30 years
Sum Assured                       : 5,00,000 (5 Lacs)
Premium Paying Term          : 22 years
Policy / Maturity Term           : 25 years

Calculation of Risk cover at Age 34

Natural Risk Cover:

10% of the Sum Assured is given every year from Age:34-Age:54
50000*21=Rs.1050000

On maturity 110% of Sum Assured along with bonus is given Rs.1387500
1050000+1387500 = Rs.2437500

Accidental Risk Cover:

Double Accidental Benefit is given intermediately at Age:34 (Rs.500000)

10% of the Sum Assured is given every year from Age:34-Age:54
50000*21=Rs.1050000 

On maturity 110% of Sum Assured along with bonus is given Rs.1387500
500000+1050000+1387500 = Rs.2937500

For LIC’s Accidental Death and Disability Benefit Rider:

1) Minimum Entry Age   : 18 years (last birthday)

2) Maximum Entry Age   : The cover can be opted for at inception or at any policy   anniversary thereafter provided the minimum premium   paying term left under the Basic plan is 5 years.

3) Maximum cover ceasing Age   : 65 years (nearer birthday)

4) Minimum Accident Benefit Sum Assured   : Rs. 10,000/-

5) Maximum Accident Benefit Sum Assured  : An amount equal to the Basic Sum Assured subject to the maximum of Rs.100 lakh overall limit taking all  existing policies of the Life Assured under individual as well as group policies including policies with inbuilt  accident benefit taken with Life Insurance Corporation of    India and the Accident Benefit Sum Assured under the  new proposal into consideration.

The Accident Benefit Sum Assured shall be in multiples of Rs. 10,000/-only.

For LIC’s New Term Assurance Rider:

1) Minimum Entry Age   : 18 years (last birthday)

2) Maximum Entry Age   : 50 years (nearest birthday)

3) Policy Term   : Same as Basic Plan

4) Premium Paying Term   : Same as Basic Plan

5) Minimum Term Assurance Rider Sum Assured   : Rs. 100,000/-

6) Maximum Term Assurance Rider Sum Assured  : The maximum Term Rider Sum Assured shall be less than or equal to the Basic Sum   Assured under the basic plan, but not exceeding the overall limit of Rs. 25 lakhs   taking all Term Assurance Riders Sum Assured under all existing policies of the life assured   including the new proposal under consideration.

The Term Assurance Rider Sum Assured can be taken in multiples of Rs. 10,000/- only.

MODE OF PREMIUM PAYMENT:

The modes of premium payment allowable are Yearly, Half Yearly, Quarterly, and Monthly (ECS only or through salary deductions).

GRACE PERIOD FOR PAYMENT OF PREMIUM:

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 mode of premium payment.

If the death of the Life Assured occurs within the grace period but before the payment of premium then due, the policy will be treated as inforce and the benefits will be paid after deduction of the said unpaid premium and also the unpaid premium/s falling due before the next policy anniversary from any immediate benefit(s) payable under such policy.

If premium is not paid before the expiry of the days of grace, the Policy lapses.

If the Policy has not lapsed and the claim is admitted in case of death under the policy where the mode of payment of premium is other than yearly, unpaid premium(s), if any, falling due before the next policy anniversary shall be deducted from any immediate benefit(s) payable under such policy.

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REBATES:

The rebates for basic plan are as under:

Mode Rebate:

Yearly mode   : 2% of tabular premium

Half-yearly mode   : 1% of tabular premium

Quarterly and monthly mode   : NIL

High Basic Sum Assured Rebate:

Basic Sum Assured Rebate (in Rs.)

1,00,000 to 1,90,000   - Nil

2,00,000 to 4,90,000   - 2%o Basic Sum Assured

5,00,000 to and above   - 3%o Basic Sum Assured

LOAN:

Loan facility is available under this plan, after payment of premiums for at least 3 full years subject to following conditions:

a)The maximum loan that can be granted as a percentage of surrender value are as under:

For inforce policies – 90%

For paid-up policies – 80%

However, the above percentages may vary from time to time.

b) The rate of interest to be charged for the loan amount would be determined from time to time by the Corporation.

The Corporation reserves the right to accept at original terms, accept with modified terms or decline the revival of a discontinued policy. The revival of discontinued policy shall take effect only after the same is approved by the Corporation and is specifically communicated to the Policyholder.

Revival of Premium Waiver Benefit Rider, if opted for, will be considered only along with revival of the Basic Policy, and not in isolation.

Taxes: 

Taxes including Service Tax, if any, shall be as per the Tax laws and the rate of tax as applicable from time to time.

The amount of tax as per the prevailing rates shall be payable by the policyholder on premiums including extra premiums and rider premium, if any. The amount of Tax paid shall not be considered for the calculation of benefits payable under the plan. 

Lic New Jeevan Lakshya Premium Payment Plan Table No 833 Presentation

Lic New Jeevan Lakshya Premium Payment Plan Table No 833 Details from Satyendra Gupta - 9811362697

LIC NEW JEEVAN LAKSHAY Children Plan Premium Chart - 833

Related Plans :  Lic New Children's Money Back Premium Payment Plan Table no 832, 

Lic New Jeevan Sangam Single Premium Payment Plan Table No 831 Details

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