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Jeevan Umang (Plan-845)

Product Summary :
LIC's Jeevan Umang Plan (845) is a non-linked, with-profits whole life assurance plan.This plan provides for annual survival benefits from the end of the premium paying term till maturity and lump sumpayment at the time of maturity or on death of the policyholder during the policy term.

Premium Payment Mode:
Yearly, Halfly, Quarterly, Monthly(ECS)

Term :
[100 - age entry] Year 

PPT* :
15 year
20 year
25 year
30 year


Minimum Entry Age :
[90]days (completed)

Maximum Entry Age :
55 years (Nearest Birthday) for PPT = 15
50 years (Nearest Birthday) for PPT = 20
45 years (Nearest Birthday) for PPT = 25
40 years (Nearest Birthday) for PPT = 30


Minimum age at the end of the PPT : [30]years(Nearest Birthday)

Maximum age at the end of the PPT : [70]years(Nearest Birthday)

Age at Maturity : [100]years(Nearest Birthday)

Minimum Sum Assured :
2,00,000

Maximum Sum Assured :
NO LIMIT (Depending upon Income)

Maximum Accidental Death and Disability Benefit Rider up to age 70.

Maximum Accidental Benefit Rider shall be available during the ppt only.

Policy Benefits :

On Death :
On death before the commencement of Risk:
  An amount equal to the total amount of premium/s paid without intrest shall be payable

On death after commencement of Risk: 'Sum Assured on Death'+vested simple reversionary Bonus + FAB if any.

Where 'Sum Assured on Death' is defined as the highest of

Basic Sum-Assured,OR
10 times of Annualized Premium, OR
105%of all Premiums paid as on death

On Survival :
On survival 8% of Basic Sum Assured shall be payable each year

Surrendered Value :
The Policy can be surrendered at any time during the policy term provided atleast three full years premiums have been paid.

Loan :
Loan Facillity is available under this plan, after payment of premiums for at least 3 full years.

Income Tax Benefit :
• Premium paid under this plan is eligible for TAX rebate under section 80c.
• Maturity under this plan is free under sec 10(10D).

Aadhaar Shila (Plan-844)

Product Summary :
This is a regular premium paying Non-linked, With-Profits, Endowment Assurance plan.This Plan is exclusively designed for FEMALE LIVES having Aadhaar Card issued by UIDAI.This plan shall be available to standard lives only without any medical examination andthe total Sum Assured under all the policies issued to an Individual under this plan shall not exceed Rs. 3 lacs.

Premium Payment Mode:
Yearly, Halfly, Quarterly, Monthly(ECS)

Term :
10 to 20 Years

Minimum Entry Age :
8 Year Completed

Maximum Entry Age :
55 Year (Nearest Birthday)

Maximum Maturity Age :
70 Year

Minimum Sum Assured :
75,000

Maximum Sum Assured :
3,00,000

Maximum Accidental Death and Disability Benefit Rider up to age 70.

Policy Benefits :

On Death :
On death of the Life Assured during the policy term " Sum Assured on Death " shall be payable, which is the highest of
• 110% of Basic Sum Assured; or
• 10 times of annualized premium; or
• 105% of all the premiums paid as on date of death.
The premium mentioned above excludes taxes, extra premium and rider premiums, if any.In addition to the above, Loyalty Addition, if any, shall also be payable if death occurs after completion of 5th policy year.

On Survival :
On survival to the end of the policy term Basic Sum Assured along with Loyalty Addition, if any,shall be payable.

Surrendered Value :
The policy can be surrendered at any time during the policy term provided atleast three full years premiums have been paid.Guaranteed Surrender Value:
The Guaranteed Surrender Value shall be a percentage of total premiums paid (net of taxes) excluding any extra premiums and premiums for riders, if opted for. This percentage will depend on the policy term and policy year in which the policy is surrendered

Loan :
Loan facility is available under this plan,after payment of premiums for at least 3 full years.


Income Tax Benefit :
• Premium paid under this plan is eligible for TAX rebate under section 80c.
• Maturity under this plan is free under sec 10(10D).

Aadhaar Stambh (Plan-843)

Product Summary :
This is a regular premium paying Non-linked, With-Profits, Endowment Assurance plan.This Plan is exclusively designed for MALE LIVES having Aadhaar Card issued by UIDAI.This plan shall be available to standard lives only without any medical examination andthe total Sum Assured under all the policies issued to an Individual under this plan shall not exceed Rs. 3 lacs.

Premium Payment Mode:
Yearly, Halfly, Quarterly, Monthly(ECS)

Term :
10 to 20 Years

Minimum Entry Age :
8 Year Completed

Maximum Entry Age :
55 Year (Nearest Birthday)

Maximum Maturity Age :
70 Year

Minimum Sum Assured :
75,000

Maximum Sum Assured :
3,00,000

Maximum Accidental Death and Disability Benefit Rider up to age 70.

Policy Benefits :

On Death :
On death of the Life Assured during the policy term " 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 premium mentioned above excludes taxes, extra premium and rider premiums, if any.In addition to the above, Loyalty Addition, if any, shall also be payable if death occurs after completion of 5th policy year.

On Survival :
On survival to the end of the policy term Basic Sum Assured along with Loyalty Addition, if any,shall be payable.

Surrendered Value :
The policy can be surrendered at any time during the policy term provided atleast three full years premiums have been paid.Guaranteed Surrender Value:
The Guaranteed Surrender Value shall be a percentage of total premiums paid (net of taxes) excluding any extra premiums and premiums for riders, if opted for. This percentage will depend on the policy term and policy year in which the policy is surrendered

Loan :
Loan facility is available under this plan,after payment of premiums for at least 3 full years.


Income Tax Benefit :
• Premium paid under this plan is eligible for TAX rebate under section 80c.
• Maturity under this plan is free under sec 10(10D).

Pradhan Mantri Vaya Vandana Yojana (Plan-842)

Product Summary :
"Pradhan Mantri Vaya Vandana Yojana" (Plan No. 842) is a Government subsidized Scheme which shall provide an assured return of 8% p.a.payable monthly (i.e. equivalent to 8.30% p.a.) on the pensioner surviving during the policy term of 10 years for citizens aged 60 years and above.

Premium Payment Mode:
Single Premium

Mode of Pension payment:
• The modes of pension payment are monthly, quarterly, half-yearly & yearly. The pension payment shall be through NEFT OR Aadhaar Enabled Payment System only.

Pension Rate :
• Yearly : 8.30
• Halfly : 8.13
• Quarterly : 8.05
• Monthly : 8.00

Minimum Entry Age :
60 Year Completed

Maximum Entry Age :
No Limit

Minimum Sum Assured :
• Yearly : 1,44,578
• Halfly : 1,47,601
• Quarterly : 1,49,068
• Monthly : 1,50,000

Maximum Sum Assured :
• Yearly : 7,22,892
• Halfly : 7,38,007
• Quarterly : 7,45,342
• Monthly : 7,50,000

Min-Max Pension Limit :
• Minimum Pension:
Rs. 1,000/- per Month
Rs. 3,000/- per Quarter
Rs. 6,000/- per Half-year
Rs. 12,000/- per Year

• Maximum Pension:
Rs. 5,000/- per Month
Rs. 15,000/- per Quarter
Rs. 30,000/- per Half-year
Rs. 60,000/- per Year


Policy Benefits :

On Death :
On death, the full purchase price will be refunded to nominee.

Surrendered Value :
Surrender would be allowed in special circumstances like critical / terminal illness of self or spouse. The Surrender Value payable in such cases shall be 98% of Purchase Price.

Loan :
Loan (up to 75% of subscribed amount) can be availed after 3 years from the Date of Commencement.

Bima Diamond (Plan-841)

Product Summary :
LIC's Bima Diamond Plan (841) is a non-linked, with-profits, limited premium payment money back type plan which offers a combination of protection and saving.

Premium Payment Mode:
Yearly, Halfly, Quarterly, Monthly(ECS)

Term :
16 Year
20 Year
24 Year 

PPT* :
For Term 16 Year Ppt 10 year
For Term 20 Year Ppt 12 Year
For Term 24 Year ppt 15 year

Minimum Entry Age :
14 Year Completed

Maximum Entry Age :
For Term 16Year - 50 Year (Nearest Birthday)
For Term 20 Year - 45 Year (Nearest Birthday)
For Term 24 Year - 41 Year (Nearest Birthday)

Maximum Maturity Age :
For Term 16Year - 66 Year
For Term 20 & 24 Year - 65 Year

Minimum Sum Assured :
1,00,000

Maximum Sum Assured :
5,00,000

Extended Cover after Completion of Policy term. Extended Cover Period equal to half of the policy term.

Policy Benefits :

On Death :
On death during first five policy years:
  Sum-Assured on death

On death after five policy years:
Sum-Assured on death + Loyalty addition if any.

where Sum-Assured on death is Basic Sum-Assured,OR
10 times of Annualized Premium, OR
105%of all Premiums paid as on death,
WHICHEVER IS HIGHER.

On Survival :
For Term 16:
15% of Basic SA is payable after 4th, 8th and 12th year of policy.
Maturity Time 55% of Basic Sum Assured + Loyalty addition if any.

For Term 20:
15% of Basic SA is payable after 4th, 8th , 12th and 16th year of policy.
Maturity Time 40% of Basic Sum Assured + Loyalty addition if any.

For Term 24:
12% of Basic SA is payable after 4th, 8th , 12th , 16th and 20th year of policy.
Maturity Time 40% of Basic Sum Assured + Loyalty addition if any.



Surrendered Value :
The Policy can be surrendered at any time during the policy term provided atleast three full years premiums have been paid.

Loan :
Loan Facillity is available under this plan, after payment of premiums for at least 3 full years.

Income Tax Benefit :
• Premium paid under this plan is eligible for TAX rebate under section 80c.
• Maturity under this plan is free under sec 10(10D).

Proposal Form : 300/340/360 shall be used under this plan.

New Endowment Plus (Plan-835)

Product Summary :
LIC's New Endowment Plus is a unit linked assurance plan, which offers investment-cum-insurance during the term of the policy.

The Policyholder can choose the amount of premium he/she desires to pay, depending on which Policyholder will get the equivalent level of cover. Each premium paid by the Policyholder shall be subject to Premium Allocation charge as per rule. The allocated premium will be utilized to purchase units as per the selected fund type. The Policyholder's Fund Value will be subject to deduction of charges as per rule. Units will be allotted and cancelled based on the Net Asset Value (NAV) of the respective fund applicable to the date of allotment / cancellation. The NAV will be computed on daily basis and will be based on the investment performance and Fund Management Charges (FMC) of each fund type.

Investment Fund Type:
Bond, Secured, Balanced, and Growth Fund

1. Bond Fund:
Investment in Government : Not less than 60%
Short-term Investment : Not more than 40%
Investment in listed equity shares : NIL
Fund for risk/return : Low risk
SFIN No.: ULIF001201114LICNED+BND512

2. Secured Fund:
Investment in Government : Not less than 45%
Short-term Investment : Not more than 40%
Investment in listed equity shares : Not less than 15% & Not more than 55%
Fund for risk/return : Steady Income - Low to Medium risk
SFIN No.: ULIF002201114LICNED+SEC512

3. Balanced Fund:
Investment in Government : Not less than 30%
Short-term Investment : Not more than 40%
Investment in listed equity shares : Not less than 30% & Not more than 70%
Fund for risk/return : Balanced Income and Growth - Medium risk
SFIN No.: ULIF003201114LICNED+BAL512

4. Growth Fund:
Investment in Government : Not less than 20%
Short-term Investment : Not more than 40%
Investment in listed equity shares : Not less than 40% & Not more than 80%
Fund for risk/return : Long term Capital growth - High risk
SFIN No.: ULIF004201114LICNED+GRW512


Basic Sum Assured is (10 * Annualized Premium) or (105% of total premiums paid), whichever is higher.

Risk Cover:
If age at entry is less than 8 years the risk will commence one day before the completion of 2 years from DOC or at policy anniversary following completion of 8 years of age, Whichever is earlier.
In case the age as entry is 8 years or more, Risk will commence immediately.

Premium Payment Mode:
Yearly, Halfly, Quarterly, Monthly

Term :
10 to 20 Years

PPT* :
Same as Policy Term

Minimum Entry Age :
90Days

Maximum Entry Age :
50Years NBD

Minimum Maturity Age :
18Years Completed

Maximum Maturity Age :
60 Years NBD.

Minimum Sum Assured :
YLY  : 20,000
HLY : 13,000
QLY : 8000
ECS : 3000

Maximum Sum Assured :
No Limit

Accidental Benefit Rider Available.

Policy Benefits :
On Death :
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.

On Survival :
Fund Value at the time of maturity.

Surrendered Value :
Policy can be surrender after 5 years.

Partial Withdrawals after  5 years. Life Assured must be major.

Loan :
Not available.

Income Tax Benefit :
80C Rebate up to Rs 1,50,000 & Maturity & Death Claim Amount 100%Tax Free