KOMAL JIVAN

http://youtu.be/8YMXsWlr7Yw Product summary: This is a Children's Money Back Plan that provides financial protection against death during the term of plan with periodic payments on survival at specified durations. This plan can be purchased by any of the parent or grand parent for a child aged 0 to 10 years. Commencement of risk cover: The risk commences either after 2 years from the date of commencement of policy or from the policy anniversary immediately following the completion of 7 years of age of child, whichever is later. Premiums: Premiums are payable yearly, half-yearly, quarterly, monthly or through Salary deductions, as opted by you, up to the policy anniversary immediately after the life assured (child) attains 18 years of age or till the earlier death of the life assured. Alternatively, the premium may be paid in one lump sum (Single premium). Guaranteed Additions: The policy provides for theGuaranteed Additions at the rate of Rs.75 per thousand Sum Assured for each completed year. The Guaranteed Additions are payable at the end of the term of the policy or earlier death of the Life Assured. Loyalty Additions: This is a with-profit plan and participates in the profits of the Corporation’s life insurance business. It gets a share of the profits in the form of loyalty additions which are terminal bonuses payable along with death or maturity benefit. Loyalty addition may be payable depending on the experience of the Corporation.

Anmol Jeevan

DREAM DON'T DIE WITH YOUR DEATH,
AN LIC POLICY GUARANTEES THAT.

On Death during the Term of the Policy Sum Assured On Maturity Nil Restrictions Minimum age at entry 18 years (completed) Maximum age at entry 55 years (nearer birthday) Maximum age at maturity 65 years Minimum Term 5 years Maximum Term 25 years Minimum Sum Assured Rs.5,00,000/- Maximum Sum Assured Less than 25,00,000 . Mode of Premium Payment* Yearly, Half- Yearly and Single premium Note : The policy would be issued in multiples of Rs. one lakh for Sum Assured above Rs. five lakh. Rebate i) Sum Assured Rebate : NIL in case of regular premium policies . ii) Mode Rebate : 1 % of Annual premium for yearly mode and nil for Half-Yearly mode. Underwriting, Age Proof and Medical Requirements The plan is available to Standard and Sub-standard lives (upto Class VI EMR). This plan is also available to female lives (category I and II lives only) and to physically handicapped persons subject to certain conditions. Standard age proof will have to be submitted along with the Proposal Form. PAID-UP AND SURRENDER VALUE : i) The policy will not acquire any paid-up value. ii) No Surrender Value will be available under this plan. Loan No loan will be granted under this plan. Grace Period For Non-Forfeiture Provisions A grace period of 15 days will be allowed for payment of yearly or half-yearly premiums. If death occurs within this period and before the payment of the premium then due, the policy will still be valid and the Sum Assured paid after deduction of the said premium as also unpaid premiums falling due before the next policy anniversary of the Policy. If the premium is not paid before the expiry of the days of grace, the Policy lapses. Revival If the Policy has lapsed, it may be revived during the life time of the Life Assured, but before the date of expiry of policy term, on submission of proof of continued insurability to the satisfaction of the Corporation and the payment of all the arrears of premium together with interest at such rate as may be prevailing at the time of the payment. The corporation reserves the right to accept or decline the revival of discontinued policy. The revival of the discontinued policy shall take effect only after the same is approved by the Corporation and is specifically communicated to the Life Assured. The cost of the Medical reports, including Special Reports, if any, required for the purposes of revival of the policy, should be borne by the Life Assured. Payment Of claims No Claims concession will be applicable to this Policy. Back-Dating Interest The policy can be back dated within the financial year. No dating back interest shall be charged.

Jeevan MItra Triple Cover

* Product summary This is an Endowment Assurance plan that provides greater financial protection against death throughout the term of plan. It pays the maturity amount on survival to the end of the policy term.
Premiums :
Premiums are payable yearly, half-yearly, quarterly, monthly or through Salary deductions, as opted by you, throughout the term of the policy or earlier death.
Bonuses : This is a with-profit plan and participates in the profits of the Corporation’s life insurance business. It gets a share of the profits in the form of bonuses. Simple Reversionary Bonuses are declared per thousand Sum Assured annually at the end of each financial year. Once declared, they form part of the guaranteed benefits of the plan. A Final (Additional) Bonus may also be payable provided a policy has run for certain minimum period.

Death Benefit :
Table No 88: Twice the Sum Assured plus all bonuses on the basic sum assured to date is payable in a lump sum upon the death of the life assured.
Table No 133: Thrice the Sum Assured plus all bonuses on the basic sum assured to date is payable in a lump sum upon the death of the life assured.
Maturity Benefit : The Sum Assured plus all bonuses declared up to maturity date is payable in a lump sum on survival to the end of the policy term.
Supplementary/Extra Benefits : These are the optional benefits that can be added to your basic plan for extra protection/option. An additional premium is required to be paid for these benefits.
Surrender Value :
Buying a life insurance contract is a long-term commitment. However, surrender value will be available under the plan on earlier termination of the contract.
Guaranteed Surrender Value :
The policy may be surrendered after it has been in force for 3 years or more. The guaranteed surrender value is 30% of the basic premiums paid excluding the first year’s premium.

Company’s policy on surrenders :
In practice, the company will pay a Special Surrender Value – which is either equal to or more than the Guaranteed Surrender Value. The benefit payable on surrender reflects the discounted value of the reduced claim amount that would be payable on death or at maturity. This value will depend on the duration for which premiums have been paid and the policy duration at the date of surrender. In some circumstances, in case of early termination of the policy, the surrender value payable may be less than the total premiums paid.
The Corporation reviews the surrender value payable under its plans from time to time depending on the economic environment, experience and other factors.

Note : The above is the product summary giving the key features of the plan. This is for illustrative purpose only. This does not represent a contract and for details please refer to your policy document.

Jeevan Tarang

Survival Benefits:

• On survival to the end of the selected accumulation period: Vested reversionary bonuses in a lump sum will be payable.
• On survival to the end of each year after the accumulation period: 5½% of the Sum Assured will be payable. The first survival benefit will be payable on survival to one year after the end of the accumulation period.

Maturity Benefit:
On survival to the policy anniversary coinciding with or immediately following the completion of age 100 years, the Sum Assured along with Loyalty Addition, if any, will be payable.

Death Benefit:

• In case of death of the Life Assured during the Accumulation Period, the Sum Assured along with vested reversionary bonuses is payable.
• In case of death of the Life Assured any time after the Accumulation Period, the Sum Assured along with Loyalty Addition, if any is payable.

OPTIONAL RIDERS AVAILABLE DURING THE ACCUMULATION PERIOD:
Accident Benefit Rider Option (Allowed for Regular Premium policies only):
Accident Benefit Option will be available under the plan by the payment of additional premium. Accident Benefit Rider shall be available for an amount not exceeding the Sum Assured under the basic plan subject to overall limit of Rs.50 lakh taking all existing policies of the life assured under individual as well as group schemes taken with Life Insurance Corporation of India and other insurance companies and the Accident Benefit Rider Sum Assured under the new proposal into consideration.
This benefit is available under Regular Premium policies only and it is not available under single 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 monthly instalments spread over 10 years or upto death or maturity, if earlier, and all future premiums under the policy will be waived.
The disability due to accident should be total and such that the life assured is unable to carry out any work to earn the living. Following disabilities due to accidents are covered:
i) irrevocable loss of the entire sight of both eyes or
ii) amputation of both hands at or above the wrists or
iii) amputation of both feet at or above ankles or
iv) amputation of one hand at or above the wrist and one foot at or above the ankle.

No benefit will be paid if accidental death or disability arises due to accident in case of:

i)intentional self-injury, attempted suicide, insanity or immorality of the life assured is under the influence of intoxicating liquor, drug or narcotic
ii)engagement in aviation or aeronautics other than that of a passenger in any aircraft
iii)injuries resulting from riots, civil commotion, rebellion, war, invasion, hunting, mountaineering, steeple chasing or racing of any kind.
iv)accident resulting from committing any breach of law
v)accident arising from employment in armed forces or military services or police organisation.

Other riders available under this plan are:
•Term Assurance Rider Option
•Critical Illness Rider Option
All three optional rider benefits mentioned above shall be available during accumulation period only.
PAID-UP VALUE:
If after at least three full years' premiums have been paid and any subsequent premium be not duly paid, this policy shall not be wholly void, but shall subsist as a paid-up policy for an amount equal to the paid-up value. The paid-up value as shall bear the same ratio to the full Sum Assured as the number of premiums actually paid shall bear to the total number of premiums originally stipulated in the policy. The policy so reduced shall thereafter be free from all liabilities for payment of the within mentioned premium, but shall not be entitled to the future bonuses. The existing vested reversionary bonuses, if any, shall remain attached to a paid-up policy. This paid up value along with the vested reversionary bonuses shall be payable on the survival of the Life Assured to the end of the Accumulation Period or on his/her prior death. No survival benefit shall be payable under paid up policies.
These provisions do not apply to the Accident Benefit, Term Assurance and Critical Illness rider options, as these riders do not acquire any paid-up value.
GUARANTEED SURRENDER VALUE:
• During Accumulation Period:
For Single Premium policies – After completion of at least one policy year, 90% of the Single Premium received, excluding premiums for optional riders and extras, if any, will be payable.
The cash value of any vested reversionary bonuses, if any, will also be payable
This is irrespective of the age of the Life Assured.
For Regular Premium policies – After completion of at least three policy years and at least three full years’ premiums have been paid, 30% of the total amount of premiums paid excluding the premiums for the first year and all premiums in respect of optional benefits and extras will be payable. However, if the age at entry of the Life Assured is less than or equal to 12 years, the guaranteed surrender value will be equal to

• Before commencement of risk: 90% of the total amount of premiums (excluding premiums paid for the first year and any extras) paid.
• After commencement of risk: 90% of the total premiums (excluding premium for the first year and any extras) paid before commencement of risk and 30% of premiums paid (excluding any extras) after the commencement of risk.
Premiums for Accident Benefit rider cover, Term Assurance rider cover and Critical Illness rider cover will be excluded.
The cash value of any vested reversionary bonuses, if any, will also be payable.
•After Accumulation Period: This will be 85% of the Basic Sum Assured.

OTHER BENEFITS:

• Loan: Loan facility is available under this plan. However, the rate of interest would be determined from time to time by the Corporation. Presently the rate of interest is 9 % pa payable half-yearly.
• Grace period: A grace period of one month but not less than 30 days will be allowed for payment of yearly, half-yearly or quarterly premiums and 15 days for monthly premiums.
• Cooling-off period: If you are not satisfied with the terms and conditions of the policy, you may return the policy to us within 15 days.
• Revival: Subject to satisfactory evidence of continued insurability, a lapsed policy can be revived during the lifetime of the Life Assured but before the expiry of the Accumulation Period within a period of five years from the due date of first unpaid premium by paying arrears of premium together with interest. The rate of interest applicable will be as fixed by the Corporation from time to time.
ELIGIBILITY CONDITIONS FOR THIS PLAN:
Ages at entry: 0 to 60 years nearest birthday
Accumulation periods available: 10, 15 and 20 years
Maximum age at which premium payment ceases: 70 years nearest birthday
Age up to which life cover available: 100 years
Minimum age at end of Accumulation Period: 18 years last birthday
Premium paying terms: Single Premium and, in case of regular premiums, equal to the accumulation period, i.e. 10, 15 and 20 years
Modes of premium payment: Yearly, Half Yearly, Quarterly, Monthly, SSS and Single Premium
Sum Assured: Rs.1 lakh and over in multiples of Rs.5,000/-.
ELIGIBILITY CONDITIONS FOR ACCIDENT BENEFIT RIDER (Allowed under Regular Premium policies only):
Ages at entry:18 to 60 years nearest birthday
Maximum age at which premium payment ceases: 70 years nearest birthday
Age up to which life cover available: 70 years
Minimum age at end of Accumulation Period: 18 years last birthday
Premium paying terms: Equal to the accumulation period, i.e. 10, 15 and 20 years
Modes of premium payment: Yearly, Half Yearly, Quarterly, Monthly, SSS and Single Premium
Sum Assured: Rs.25,000 to Rs.50 lakh, considering all Accident Benefit Sums Assured under individual and group policies and Accident Benefit Rider Sum Assured under new proposals into consideration. The Sum Assured can be in multiples of Rs.5,000/-.
Availability of Rider: During the chosen Accumulation Period.

REBATES/EXTRA FOR MODE OF PREMIUM PAYMENT AND HIGH SUM ASSURED:

• Mode Rebate:
Yearly mode: 2% of tabular Premium
Half-yearly mode: 1% of the tabular premium
Quarterly: NIL
In case of monthly mode other than SSS, an additional amount of 5% of tabular premium will be charged.
• High Sum Assured Rebates:
For Annual premium
Rs.1.25%o Sum Assured for Sum Assured Rs 2 lakh and over;
Rs. 2.25%o Sum Assured for Sum Assured Rs 5 lakh and over.
For Single premium
Rs.7.50%o Sum Assured for Sum Assured Rs 2 lakh and over;
Rs.12.50%o Sum Assured for Sum Assured Rs 5 lakh and over.
EXCLUSIONS:
This policy shall be void if the Life Assured commits suicide (whether sane or insane at the time) at any time on or after the date on which the risk under the policy has commenced but before the expiry of one year from the date of commencement of risk under the policy and the Corporation will not entertain any claim by virtue of this Policy except to the extent of a third party's bonafide beneficial interest acquired in the policy for valuable consideration of which notice has been given in writing to the office to which premiums under this policy were paid last, at least one calendar month prior to death.

Bima Gold

Survival Benefit: Payable in case of life assured surviving to the end of the specified durations provided the policy is in full force as given below: For policy term 12 years: 15% of the Sum Assured under Basic Plan at the end of each 4th & 8th policy year For policy term 16 years: 15% of the Sum Assured under Basic Plan at the end of each 4th, 8th &12th policy year For policy term 20 years: 10% of the Sum Assured under Basic Plan at the end of each 4th, 8th, 12th & 16th policy year On expiry of policy term: Total amount of premiums (excluding extra/optional rider premiums, if any) paid plus Loyalty Additions, if any, less the amount of survival benefits paid earlier.

DEATH BENEFIT:

During the policy term: Payment of an amount equal to Sum Assured under the Basic Plan on death of the Life Assured during the policy term provided the life cover is in force. During the extended term: Payment of an amount equal to 50% of Sum Assured under the Basic Plan on death of the Life Assured during the extended term provided all the premiums under the policy have been paid. Extended Term: The extended term shall be half of the policy term after the expiry of the policy term

OPTIONAL RIDER BENEFIT:

Accident Benefit rider shall be available as an optional benefit for a premium at the rate of Re.1 per thousand Accident Benefit Rider Sum Assured. Accident Benefit Rider shall be available for an amount not exceeding the Sum Assured under the basic plan subject to overall limit of Rs.50 lakh taking all existing policies of the Life Assured under individual as well as group schemes taken with Life Insurance Corporation of India and other insurance companies and the Accident Benefit Rider Sum Assured under the new proposal into consideration. This rider benefit is available only during the policy term but not during extended term. ����������� This rider shall be available for the Life Assured engaged in police duty either in any military, naval or police organisation by payment of an additional premium at the rate of Rs.0.50 per thousand Accident Benefit Rider Sum Assured.

ACCIDENTAL DEATH AND DISABILITY BENEFIT:

On death arising as a result of accident an additional amount equal to the Accident Benefit Rider Sum Assured is payable. On total and permanent disability arising due to accident (within 180 days from the date of accident) an amount equal to the Accident Benefit Rider Sum Assured will be paid over a period of 10 years in monthly instalments. The disability due to accident should be total and such that the Life Assured is unable to carry out any work to earn the living. Following disabilities due to accident are covered: a) irrevocable loss of the entire sight of both eyes, or b) amputation of both hands at or above the wrists, or c) amputation of both feet at or above ankles, or d) amputation of one hand at or above the wrist and one foot at or above the     ankle No benefit will be paid if accidental death or disability arises due to accident in case of : a) intentional self-injury, attempted suicide insanity or immorality or the Life     Assured is under the influence of intoxicating liquor, drug or narcotic b) engagement in aviation or aeronautics other than that of a passenger in any     air craft c) injuries resulting from riots, civil commotion, rebellion, war, invasion,     hunting, mountaineering, steeple chasing or racing of any kind d) accident resulting from committing any breach of law e) accident arising from employment in armed forces or military services or police organisation.

AUTO-COVER FACILITY:

If at least two full years’ premiums have been paid in respect of this policy, any  subsequent premium be not duly paid, full death cover shall continue for a period of two years from the date of First Unpaid Premium(FUP) or till the end of policy term, whichever is earlier.

PAID UP VALUE:

If after at least three full years’ premiums have been paid in respect of this policy, any subsequent premium be not duly paid, this policy shall not be wholly void after the expiry of two years Auto Cover Period from the due date of First Unpaid Premium, but shall subsist as a paid up policy for an amount equal to the total premiums paid (excluding any extra/optional premium) less the survival benefits paid earlier, if any. This amount shall be called as Paid Up Value. This paid up value shall be payable on the date of expiry of policy term or at Life Assured’s prior death. No survival benefit shall be payable under paid up policies. The policy, thereafter, shall be free from all liabilities for payment of the within mentioned premiums. The Accident Benefit Rider will cease to apply if the policy is in lapsed condition. During the Auto Cover Period also, the Accident Benefit Rider shall not be available. The extended term cover shall not be available in case of paid-up policies.

GUARANTEED SURRENDER VALUE:

The Guaranteed Surrender Value shall be available after completion of at least three policy years and at least three full years’ premiums have been paid. The Guaranteed Surrender Value is equal to 30 per cent of the total amount of premiums paid excluding the premiums for the first policy year, all extra premiums paid, the premiums paid for Accident Benefit Rider and the amount of survival benefits paid earlier.

OTHER BENEFITS:

The plan offers other benefits as follows :      Loan : Loan facility is available under this plan after the policy acquires paid up value. The rate of interest to be charged for loan amount would be determined from time to time by the Corporation. Presently the rate of interest is 9% p.a. payable half-yearly. Grace Period : A grace period of one month but not less than 30 days will be allowed for payment of yearly, half-yearly or quarterly premiums and 15 days for monthly premiums. Revival : Subject to production of satisfactory evidence of continued insurability,  a lapsed policy can be revived by paying arrears of premium together with interest within a period of five years from the due date of first unpaid premium. The rate of interest applicable will be as decided by the Corporation from time to time. Cooling-off period: If you are not satisfied with the “Terms and Conditions” of  the policy you may return the policy to us within 15 days.

Jeevan Anand

Product summary:
This plan is a combination of Endowment Assurance and Whole Life plans. It provides financial protection against death throughout the lifetime of the life assured with the provision of payment of a lump sum at the end of the selected term in case of his survival.

Premium:
Premiums are payable yearly, half-yearly, quarterly, monthly or through salary deductions as opted by you throughout the selected term of the policy or till earlier death.

Bonuses:
This is a with-profit plan and participates in the profits of the Corporation’s life insurance business. It gets a share of the profits in the form of bonuses. Simple Reversionary Bonuses are declared per thousand Sum Assured annually at the end of each financial year.  Once declared, they form part of the guaranteed benefits of the plan. Bonuses will be added during the selected term or till death, if it occurs earlier. Final (Additional) Bonus may also be payable provided the policy has run for certain minimum period.


Benefits in case of death during the selected term:
The Sum Assured along with the vested bonuses is payable on death in a lump sum.

Benefits in case of survival to the end of selected term:
The Sum Assured along with the vested bonuses is payable in a lump sum on survival to the end of the term. An additional Sum Assured is payable on death thereafter.

Accident Benefit:
An additional Sum Assured (subject to a limit of Rs.5 lakh) is payable in a lump sum on death due to accident up to age 70 of life assured. In case of permanent disability of the life assured due to accident this additional Sum assured is payable in instalments.

Supplementary/Extra Benefits:
These are the optional benefits that can be added to your basic plan for extra protection/option.  An additional premium is required to be paid for these benefits.

Surrender Value:
Buying a life insurance contract is a long-term commitment. However, surrender values are available on the plan on earlier termination of the contract.

Guaranteed Surrender Value:
The policy may be surrendered after it has been in force for 3 years or more.  The guaranteed surrender value is 30% of the basic premiums paid excluding the first year’s premium. Any extra premium(s) paid and premium(s) towards Accident Benefit are also excluded.

Corporation’s policy on surrenders:
In practice, the Corporation will pay a Special Surrender Value – which is either equal to or more than the Guaranteed Surrender Value. The benefit payable on surrender reflects the discounted value of the reduced claim amount that would be payable on death or at maturity. This value will depend on the duration for which premiums have been paid and the policy duration at the date of surrender. In some circumstances, in case of early termination of the policy, the surrender value payable may be less than the total premium paid.

BOTAD LIC