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  • 1. LIC’sLIC’s Jeevan TarangJeevan TarangCelebrating Life
  • 2. LIC’sLIC’s Jeevan TarangJeevan Tarang
  • 3. LIC’sLIC’s Jeevan TarangJeevan Tarang• TThis is ahis is a with-profitswith-profits whole of life planwhole of life plan which provides forwhich provides forannual survival benefit at a rate ofannual survival benefit at a rate of 5½ % of the Sum5½ % of the SumAssuredAssured after the chosen Accumulation Period.after the chosen Accumulation Period.• TheThe vested bonusesvested bonuses in ain a lump sumlump sum are payableare payable ononsurvivalsurvival to theto the end of the Accumulation Periodend of the Accumulation Period or onor onearlier deathearlier death ..• TheThe Sum AssuredSum Assured, along with Loyalty Additions, if any, is, along with Loyalty Additions, if any, ispayable on survivalpayable on survival to age 100 years or onto age 100 years or on earlier deathearlier death ..
  • 4. LIC’sLIC’s Jeevan TarangJeevan Tarang• ACCUMULATION PERIOD:– The plan offers three Accumulation periods :–• 10,• 15 and• 20 years.A proposer may choose any of them.• PAYMENT OF PREMIUM: Premiums can be paid regularlyat yearly, half-yearly, quarterly or monthly intervals orthrough salary deductions over the Accumulation Period.• Alternatively, a Single Premium can be paid oncommencement of a policy
  • 5. LIC’sLIC’s Jeevan TarangJeevan TarangRegular premiumsAccumulation periodAge 10 years 15 years 20 yearsUp to 40 years 109.10 71.40 51.5041 to 45 years 109.10 71.40 53.4046 to 50 years 109.10 73.80 56.6051 to 55 years 111.80 77.90 -56 to 60 years 116.60 - -SAMPLE PREMIUM RATES: The tables below providetabular premiums for various age-term combinations forRs. 1000/- Sum Assured.
  • 6. LIC’sLIC’s Jeevan TarangJeevan TarangSingle premiumsAccumulation periodAge 10 years 15 years 20 yearsUp to 46 years 756.00 644.00 548.0047 years 756.00 644.00 549.0048 years 756.00 644.00 552.0049 years 756.00 644.00 555.2050 years 756.00 644.00 558.9051 to 55 years 756.00 644.00 -56 to 60 years 756.00 - -SAMPLE PREMIUM RATES: …contd
  • 7. LIC’sLIC’s Jeevan TarangJeevan Tarang• PARTICIPATION IN PROFITS: Policies under this planshall participate in profits of the Corporation.• During the accumulation period policies shall be entitled toreceive simple reversionary bonuses which will bepayable on survival to the end of the accumulation periodor on earlier death.• After the accumulation period, policies will be entitled toreceive a Loyalty Addition payable on maturity or onearlier death.• The amount of simple reversionary bonus and Loyalty Addition will dependon the experience of the Corporation.
  • 8. LIC’sLIC’s Jeevan TarangJeevan Tarang• BENEFITS:– 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 accumulationperiod:– 5½% of the Sum Assured will be payable. The first survival benefitwill be payable on survival to one year after the end of theaccumulation period.– Maturity Benefit:• On survival to the policy anniversary coinciding with orimmediately following the completion of age 100 years:– The Sum Assured along with Loyalty Addition, if any, will be payable.
  • 9. LIC’sLIC’s Jeevan TarangJeevan Tarang• BENEFITS:– Death Benefit:• In case of death of the Life Assured during theAccumulation Period, the Sum Assuredalong with vested reversionary bonuses ispayable.• In case of death of the Life Assured any time afterthe Accumulation Period, the Sum Assuredalong with Loyalty Addition, if any ispayable.
  • 10. LIC’sLIC’s Jeevan TarangJeevan Tarang• OTHER BENEFITS:– Loan: Loan facility is available under this plan. However, therate of interest would be determined from time to time by theCorporation. Presently the rate of interest is 9 % pa payable half-yearly.– Grace period: A grace period of one month but not less than30 days will be allowed for payment of yearly, half-yearly orquarterly premiums and 15 days for monthly premiums.– Cooling-off period: If you are not satisfied with the terms andconditions of the policy, you may return the policy to us within 15days.– Revival: Subject to satisfactory evidence of continuedinsurability, a lapsed policy can be revived during the lifetime ofthe Life Assured but before the expiry of the AccumulationPeriod within a period of five years from the due date of firstunpaid premium by paying arrears of premium together withinterest. The rate of interest applicable will be as fixed by theCorporation from time to time.
  • 11. LIC’sLIC’s Jeevan TarangJeevan TarangELIGIBILITY CONDITIONS FOR THIS PLAN:Ages at entry 0 – 60 yearsAccumulation periods available 10, 15 & 20 yearsPremium ceasing Age (Max.) 70 yearsAge up to which life cover available 100 yearsMinimum age at end of AccumulationPeriod18 yearsPremium Paying Terms (Regular Payment) 10, 15 & 20 yearsModes of Premium PaymentYearly, Half Yearly,Quarterly, Monthly,SSS &Single PremiumMinimum Sum Assured Rupees One Lakh andin multiples of Rs.5000/- thereafter
  • 12. LIC’sLIC’s Jeevan TarangJeevan Tarang• REBATES / EXTRA FOR MODE OF PREMIUMPAYMENT 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.
  • 13. LIC’sLIC’s Jeevan TarangJeevan Tarang• OPTIONAL RIDERS AVAILABLE DURING THEACCUMULATION PERIOD:– Accident Benefit Rider Option(Allowed for Regular Premium policies only)– Term Assurance Rider Option– Critical Illness Rider OptionAll three optional rider benefits mentioned aboveshall be available during accumulation periodonly
  • 14. LIC’sLIC’s Jeevan TarangJeevan Tarang• Riders available during the accumulation period– Accident Benefit Rider Option• Up to overall limit of Rs. 50 lacs.– Term Assurance Rider Option• Premium are payable during PPT & SA payable ondeath during the Accumulation Period. Maximumrider will be Rs. 25 lacs ( Overall Limit)– Critical Illness Rider Option• Maximum overall cover will be Rs. 5 lacs– Premium Waiver Benefit Option under CriticalIllness Rider• Available only if Critical Illness Rider is opted forand to the extent of Critical Illness Rider SumAssuredAll the optional rider benefits mentioned above shall beAll the optional rider benefits mentioned above shall beavailable during Accumulation Period onlyavailable during Accumulation Period only
  • 15. LIC’sLIC’s Jeevan TarangJeevan Tarang• UNDERWRITING REQUIREMENTS:– Underwriting, Age Proof, Medical as per plan 14 ifCritical Illness Rider is not opted for– Female cat I, II, allowed. For cat III only if TA andCritical Illness Rider is not opted for– Minor Lives : up to 10 years completed (withAB,TA,CI) allowed only to Std lives. NoMedical/special reports required– Age greater than 10 years completed (withoutAB,TA,CI) allowed to Std Lives and Sub-StandardLives attracting up to EMR Class III by overweightonly. Medical/Special Reports will be called for basedon SUC– NMS NMG within existing limits