It is a Single payment non-linked endowment life insurance with profit plan which offers guaranteed returns in the form of Guaranteed Sum Assured and vested reversionary bonuses with Final Additional Bonus. It is the combination of Investment plus Life Cover. Policy can be availed with duration of 10 years to 25 years and can be taken any person between the ages of 30 days to 65 years.
It gives a lump sum amount at the end of term, to take care of important milestones in your life like retirement needs, children’s education, and children’s marriage. In case of unfortunate demise, family needs are taken care.
Guaranteed Sum Assured with Vested Bonus will be payable in case of Unfortunate death. This will help the family to fulfil their needs in the absence of bread winner.
Fulfil financial needs by exercising loan facility on policy immediately after one year. Loan Facility is available at very concessional rate.
Every year, LIC declares valuation results.
As per valuation result declared by LIC, profit is being shared among all policyholders as bonus.
By paying small extra premium amount, you can secure your life for high insurance protection on natural or accidental death by opting DAB and Term Rider.
Eligibility Criteria
| Minimum | Maximum | |
| Entry Age | 30 Days (Completed) | 65 Years (Nearer birthday) |
| Term | 10 Years | 25 Years |
| Sum Assured | ₹ 1,00,000/- | No Limit |
Premium Modes
Yearly, Half-Yearly, Quarterly and Monthly (NACH only) or through salary deductions (SSS).
Riders Available
LIC’s Accidental Death & Disability Benefit Rider
LIC’s New Term Assurance Rider
Death Benefit
Death benefit payable on death of the life assured during the policy term after the date of commencement of risk but before the date of maturity, shall be “Sum Assured on Death” along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any. Where, “Sum Assured on Death” is defined as:
Single Premium referred above excludes taxes, extra premium and rider premium(s), if any. However, in case of minor Life Assured, whose age at entry is below 8 years, on death before the commencement of Risk, the Death Benefit payable shall be refund of Single premium paid (excluding taxes, extra premium and rider premiums if any), without interest.
Maturity Benefit
Sum Assured on Maturity along with vested Simple Reversionary bonuses and Final Additional bonus, if any.
Loan Facility can be availed at any time during the policy term after three months from completion of the policy (i.e. 3 months from the Date of issuance of policy) or after expiry of the free-look period, whichever is later.
Option to Surrender the Policy
The policy can be surrendered at any time during the policy year. On surrender of the policy, the Corporation shall pay the Surrender Value equal to higher of Guaranteed Surrender Value and Special Surrender Value. The Guaranteed Surrender Value shall be as under: - During first three policy year: 75% of the Single premium paid - Thereafter: 90% of the Single premium paid.
