It gives you benefits of a Life Insurance cover with the benefits of Investment Returns.
On Maturity Basic Sum Assured along with Loyalty Addition, if any, shall be payable.
Using "Settlement Option" at the time of Maturity, you can take it in instalments over the chosen period of 5 or 10 or 15 years instead of lump sum.
Basic Sum Assured
Age at entry For Single Premium-Option A
Age at entry For Single Premium-Option B
Age at entry For 5 Years PPT- Option A
Age at entry for 5 Years PPT- Option B
Policy Term (under All options except Single Premium Option A)
Policy Term for Single Premium Option A
Premium Paying Term
Single Premium or 5 years Limited Premium Term
Maturity Age For Single Premium-Option A
Maturity Age For Single Premium-Option B
Maturity Age For 5 Years PPT- Option A
Maturity Age for 5 Years PPT- Option B
Mode of Payment
Yearly, Half Yearly, Quarterly, Monthly
Sum Assured on Death Options
Single Premium- Option A : 10 times of Tabular Premium
Single Premium- Option B : 1.25 times of Tabular Premium
5 years PPT Option 1 : Higher of 10 times of tabular Premium Plus Modal Loading or Basic Sum Assured
5 years PPT Option 2 : Higher of 7 times of tabular Premium Plus Modal Loading or Basic Sum Assured
Date of commencement of risk: In case the age at entry of the Life Assured is less than 8 years, the risk under this plan will commence either 2 years from the date of commencement or from the policy anniversary coinciding with or immediately following the attainment of 8 years of age, whichever is earlier. For those aged 8 years or more, risk will commence immediately.
Death Benefit :
On Death During the first 5 years
On Death after 5 years
a) LIC’s Accidental Death and Disability Benefit Rider (UIN: 512B209V02)
b) LIC’s New Term Assurance Rider (UIN: 512B210V01)
Settlement Option (for Maturity Benefit):
Option to take Death Benefit in installments:
Loan Availablility after Payment of Premium of 2 Full years for 5 years PPT and after 3 months from date of Completion of Policy for Single Premium for Single Premium.