All existing plans lic of india

LIC’s NEW ENDOWMENT PLAN
Table No. 814

Table No. 14
Endowment Assurance Plan
Table No.814
New Endowment Plan
Maturity Benefit Maturity Benefit
Basic Sum Assured along with
Vested Simple Reversionary
Bonuses and Final Additional
Bonus, if Any.
Vested Simple Reversionary Bonuses and
Final Additional Bonus, if Any.
Death Benefit Death Benefit
Sum Assured (SA) along with
Vested Simple Reversionary
Bonuses and
Final Additional Bonus, if any.
‘Sum Assured on Death’ along with Vested
Simple Reversionary Bonuses and Final
Additional Bonus, if any.
The death benefit as defined above shall not be
less than 105% of total premiums* paid as on the
date of death.
Modified ‘Sum
Assured on
Death' instead
of SA.
No
change
LIC’s New Endowment Plan – Benefits

What is Sum Assured on Death?
Sum Assured on Death shall be Higher of ~
Basic Sum Assured (BSA)
OR
10 times Annualised Premium.(10 x AP).
[*The premiums mentioned in death benefit are excluding taxes, extra premiums
and premiums for riders, if any]
LIC’s New Endowment Plan – Benefit on Death

Particulars
Table No. 14
Table No. 814
New Endowment Plan
Age at entry 12 to 65 years 8 to 55 years
Age at
Maturity
Maximum 75 years Maximum 75 Years
Policy Term 5 to 55 years 12 to 35 years
Premium
mode
Yearly, Half-yearly,
Quarterly, Monthly (SSS or
ECS)
ECS)
Basic Sum
Assured
50000 and above
100000 and above
( In multiples of 5000)
Eligibility Conditions and Restrictions
LIC’s New Endowment Plan
Age at
entry
modified
Minimum
Sum
Assured
Modified
Policy
term
modified

Mode
Rebate
Table No. 14 Table No. 814
Yearly 3% of tabular Premium 2% of tabular premium
Half-yearly 1.5% of tabular premium 1% of tabular premium
Quarterly Nil Nil
Table No 14
Table No. 814
New Endowment Plan
Basic Sum Assured Rebate (Rs.) Basic Sum Assured Rebate (Rs.)
100001 and above 2.00‰ SA 5,00,000 and above 3.00‰ BSA
50001 to 100000 1.00‰ SA 2,00,000 to 4,95,000 2.00‰ BSA
Upto 50000 Nil <1,95,000 Nil
Slab & Rate
modified
Rate
modified
LIC’s New Endowment Plan ~ Rebates

Table No. 14
Table No. 814
New Endowment Plan
Available after payment of 3 full
years premiums.
Available after payment of 3 full
years premiums.
Loan granted shall be 90% of the
Surrender Value in case of inforce
policies and 85% of the Surrender
Value in case of Paid-up policies
irrespective of the policy term.
The maximum amount of loan that
can be granted as a percentage of
Surrender Value shall depend on
the Policy Term, as given in the
table below.
Foreclosure action was initiated on
default of 2 or more half-yearly
loan interest installments.
Foreclosure action shall not be
taken under fully paid-up and
inforce policies even if there is
default of loan interest.
Policy Term Upto 23 24 to 27 28 to 31 32 to 35
% for inforce policies 90% 80% 70% 60%
% for Paid-up policies 80% 70% 60% 50%
% of loan
modified
LIC’s New Endowment Plan ~ Policy Loan

Table No.14 Table No. 814
Guaranteed Surrender Value (GSV) Guaranteed Surrender Value (GSV)
Available after payment of 3 full years
premiums.
premiums.
GSV shall be equal to 30% of the total
premiums paid less First Year Premium
and extra premium, if any.
GSV shall be a percentage of total
premiums paid (net of taxes) excluding
extra premium, if any and premium paid
for riders,if opted for.
Examples of GSV factors applicable for
total premiums paid
Policy Year ~ GSV factor
3 = 30%
5 = 50%
t -1 = 80% (t=Policy Term)
Cash Value of vested bonuses, if any. GSV factor applicable to vested bonus,if
any. Examples of Vested bonus factors –
Year of SV – Policy Term – Factor
3 12 18.60%
19 25 20.85%
29 30 30%
LIC’s New Endowment Plan ~ Surrender Value
GSV %
modified
Bonus
Payable
modified
No
Change

Table No. 14
Table No. 814
New Endowment Plan
Special Surrender Value (SSV) Special Surrender Value (SSV)
Surrender Value shall be the
discounted value of the Paid-up Sum
Assured and vested simple
reversionary bonuses.
Surrender Value shall be the
discounted value of the Paid-up Sum
Assured and vested simple
reversionary bonuses.
The discount factors shall be
surrender value factors as provided in
Table-1A of the Special Surrender
Value Booklet and will depend upon
the policy term and duration elapsed
since the commencement of the policy.
The discount factors shall be
Table-1A of the Special Surrender
Value Booklet and will depend upon
the policy term and duration elapsed
Surrender Value Payable Surrender Value payable
The Higher of Guaranteed Surrender
Value and Special Surrender Value
shall be payable.
The Higher of Guaranteed Surrender
Value and Special Surrender Value
shall be payable.
No change in SSV
LIC’s New Endowment Plan

Table No 14
Table No 814
New Endowment plan
A Policy may be revived within a
period of 5 years from the date of first
unpaid premium.
period of 2 years from the date of first
unpaid premium.
Taxes, if any , were borne by the
corporation.
Taxes, if any, shall be applicable at the
prevailing rates and borne by the
policyholder as per rules.
There shall be no change in the
following Items
Back Dating
Grace Period
Paid-up Value
Assignment/Nomination
LIC’s New Endowment Plan ~ Table No. 814

• ‘Sum Assured on Death’ has been defined separately.
• Age at entry has been reduced.
• Percentage of Loan payable as a percentage of
Surrender Value shall depend upon policy term.
• GSV percentage shall also depend on policy term
and year of Surrender.
• Rebates for high SA and premium mode modified.
LIC’s New Endowment Plan –
Changes over Table No.14

LIC’s NEW JEEVAN ANAND PLAN
Plan No. 815

Jeevan Anand
Plan No. 149
New Jeevan Anand
Plan No. 815
Final Additional Bonus, if Any
During the policy term
Basic Sum Assured(BSA) along with
Vested Simple Reversionary Bonuses
and
After expiry of policy term
Basic Sum Assured
During the policy term
‘Sum Assured on Death’ along with
and
After expiry of policy term
Basic Sum Assured
Modification-
‘Sum Assured
on Death'
instead of BSA
LIC’s New Jeevan Anand Plan– Benefits

125% of Basic Sum Assured (1.25 x BSA)
OR
10 times Annual Premium.(10 x AP).
≈≈≈≈
The death benefit as defined above shall not be less than 105% of
total premiums* paid as on the date of death .
[*excluding taxes, extra premiums and premiums for riders, if any]
LIC’s New Jeevan Anand Plan– Benefits

Particulars
Jeevan Anand
Plan No. 149
New Jeevan Anand
Plan No. 815
Age at
Maturity
Maximum 75 years Maximum 75 Years
Policy Term 5 to 57 years 15 to 35 years
Premium mode
ECS)
ECS)
Basic Sum
Assured
100000 and above
100000 and above
Maximu
m Age at
entry
reduced.
Policy
term
modified
LIC’s New Jeevan Anand Plan–

Mode
Rebate
Plan 149 Plan No. 815
Quarterly Nil Nil
Plan No 149
Jeevan Anand
Plan No. 815
New Jeevan Anand
10,00,000 and above 1.75‰ BSA 10,00,000 and above 3.00‰ BSA
5,00,000 to 9,95,000 1.50‰ BSA 5,00,000 to 9,95,000 2.50‰ BSA
3,00,000 to 4,95,000 1.00‰ BSA 2,00,000 to 4,95,000 1.50‰
1,00,000 to 2,95,000 Nil 1,00,000 to 1,95,000 Nil
Slab & Rate
modified
Rate
modified
LIC’s New Jeevan Anand Plan– Rebates

Jeevan Anand
Plan No. 149
New Jeevan Anand
Plan No.815
premiums.
premiums.
Loan granted shall be 90% of the Surrender
Value in case of inforce policies and 85% of
the Surrender Value in case of Paid-up
policies irrespective of the policy term.
The maximum amount of loan that can be
granted as a percentage of Surrender
Value shall depend on the Policy Term, as
given in the table below.
Foreclosure action was initiated on default
of 2 or more half-yearly loan interest
installments.
Foreclosure action shall not be taken under
fully paid-up and inforce policies even if
there is a default of loan interest.
Policy Term Upto 23 24 to 27 28 to 31 32 to 35
% for inforce policies 90% 80% 70% 60%
% for Paid-up policies 80% 70% 60% 50%
% of loan
modified
LIC’s New Jeevan Anand Plan– Loan

Plan No.149 Plan No. 815
premiums.
premiums.
premiums paid less First Year Premium and
extra premium, if any.
GSV shall be a percentage of total
premiums paid (net of taxes) excluding
extra premium, if any and premium paid for
riders,if opted for.
Examples of GSV factors applicable for
total premiums paid
3 = 30%
5 = 50%
Cash Value of vested bonuses, if any. GSV factor applicable to vested bonus,if
any. Examples of Vested bonus factors –
Year of SV – Policy Term – Factor
3 15 17.66%
19 25 20.85%
29 30 30%
GSV %
modified
Bonus
Payable
modified
No
Change
LIC’s New Jeevan Anand Plan– Surrender Value

Jeevan Anand
Plan No. 149
New Jeevan Ananad
Plan 815
Surrender Value shall be the discounted
value of the Paid-up Sum Assured and
vested simple reversionary bonuses.
The discount factors shall be surrender
value factors as provided in Table-1A and
2A(whole life) of the Special Surrender
Value Booklet and will depend upon the
policy term and duration elapsed since the
commencement of the policy.
The discount factors shall be Special
Table-1A and 2A(Whole life) of the Special
Surrender Value Booklet and will depend
upon the policy term and duration elapsed
The Higher of Guaranteed Surrender Value
and Special Surrender Value shall be
payable.
payable.
No change in SSV
LIC’s New Jeevan Anand Plan– Surrender Value

Jeevan Anand
Plan No. 149
New Jeevan Anand
Plan No. 815
period of 5 years from the date of
first unpaid premium.
period of 2 years from the date of
first unpaid premium.
Accident Benefit inbuilt. Accident Benefit as a rider.
corporation.
There shall be no change in the following Items
Back Dating
Grace Period
Paid-up Value
LIC’s New Jeevan Anand Plan

Bima Bachat Plan
Plan No. 175
New Bima Bachat plan
Plan No. 816
Single Premium Paid along with
loyalty addition less extra
premiums ,if any.
Single Premium Paid along with loyalty addition
less Taxes and extra premiums ,if any
Death Claim Benefit Death Claim Benefit
Payment of Sum Assured First 5 years:
Sum Assured shall be payable.
After completion of 5 years:
Sum Assured and Loyalty Additions, if any shall
be payable.
LIC’s New Bima Bachat Plan
Benefits
Death
Benefit
Modified

Year->
Term ↓
SURVIVAL BENEFIT
(as a percentage of Sum Assured )
3RD 6TH 9TH 12TH 15th
9 15% 15% MAT XXX
12 15% 15% 15% MAT
15 15% 15% 15% 15% MAT
LIC’s New Bima Bachat Plan - Benefits
There is no change in the percentage of Survival Benefit payable under
Bima Bachat – Plan 175 and New Bima Bachat Plan - 816
No Change
in SB

Particulars
Description
Plan No 175
Bima Bachat
Plan No. 816
New Bima Bachat
Age at
entry
15 to 66 years
irrespective of the
policy term
Minimu
m
Maximum
15 years
Term = 9 Term = 12 Term = 15
66 yrs 63 yrs 60 yrs
Age at
Maturity
Maximum
75 Years
Maximum 75 Years
Policy
Term
9 , 12 and 15 years 9 , 12 and 15 years
Basic Sum
Assured
Minimum 20000 and
in multiple of Rs
5000 No upper limit
Minimum Maximum
Term = 9 Term = 12 Term = 15 Term = 9/12/15
35000 50000 70000
No upper Limit
SA shall be in
multiple of
Rs.5000
Age at Entry
and SA based
on policy term

New Bima Bachat
Plan 816
Policy
Term
Sum Assured Band
% of
Tabular
Premium
9
years
Less than 75000 Nil
75000 to less than 150000 6%
150000 and above 8%
12
years
Less than 100000 Nil
100000 and less than
200000
4%
200000 and above 6%
15
years
Less than 150000 Nil
150000 and less than
300000
3%
300000 and above 5%
High Sum Assured RebatE
Bima Bachat Plan No. 175
Policy Term
Sum Assured Band % of
Tabula
r
premi
um
Policy
term –
9,12 and
15 years
Less than
50000
Nil
50000 and less
than 100000 5%
100000 and
less than
200000
7%
200000
And above 8%

LIC’s Bima Bachat
Plan No 175
LIC’s Bima Bachat
Plan No. 816
Available after completion of 1 year. Available at any time during the policy term
subject to realisation of the premium cheque.
No Loyalty Addition payable. No Loyalty Addition payable.
Higher of GSV or SSV payable Higher of GSV or SSV payable
GSV is equal to 90% of the single
premium paid excluding extra premium
and less amount of Survival benefits
paid earlier.
1st Year ~ 70% of Single Premium
excluding taxes and extra premium,if any.
Thereafter ~ 90% of Single Premium
excluding all Survival Benefits paid earlier,
taxes and extra premium, if any.
Discounted value of Single Premium
paid excluding extra premium, if any.
Discounted value of Single Premium paid
excluding taxes and extra premium,if any.
Surrender Value
SV available
at any time.
GSV
modified

LIC’s Bima Bachat
Plan No 175
LIC’s Bima Bachat
Plan No. 816
Loan available after payment of first
premium.
Loan facility available after completion of
1 policy year
Loan can be granted upto 90% of the
Special Surrender Value
Loan can be granted upto 60% of
Surrender Value.
LIC’s New Bima Bachat Plan - Loan
Loan ~ Modified

Table No 175
Bima Bachat Plan
Table No 816
New Bima Bachat Plan
Service Tax was borne by the
corporation.
Service Tax shall be applicable at the
There shall be no change in
the following Items
Back Dating
Paid-up Value

LIC’s Single Premium Endowment Plan
Plan No. 817
UIN 512N283V01

LIC’s SINGLE PREMIUM ENDOWMENT PLAN –
Highlights
Single Premium
With Profit Endowment Plan
Minimum Age at entry is 90 days
Loan available after completion of one year
Back dating is allowed

Death Benefit
Maturity Benefit
Sum Assured Plus
Simple Reversionary Bonuses Plus
Final Additional Bonus, if
any.
After Commencement of Risk Before Commencement of Risk#
Sum Assured plus vested Simple
Reversionary bonuses and final additional
bonus, if any.
Return of Single Premium
excluding taxes and extra
premiums, if any.
# In case the age at entry of Life Assured is less than 8 years, risk will commence either
2 years from the DOC OR policy anniversary after completion of 8 years of age
whichever is earlier, for others risk shall commence immediately.
LIC’s SINGLE PREMIUM ENDOWMENT PLAN

Loan
Available after completion of 1 policy year.
Amount of loan will depend on year of Policy and Policy Term.
The maximum loan shall be granted as a percentage of Surrender
Value(SV).
Policy Year →
Term ↓
2 3 6 9 12 13 and above
Upto 15 yrs 55% 60% 80% 90% 90% 90%
16 to 20 yrs 40% 45% 60% 80% 90% 90%
21 yrs and above 30% 30% 45% 60% 80% 90%
Some Examples of Loan as a percentage of Surrender Value are given below -

Particulars Description
Age at entry
90 days (completed) to 65 years (nearest
birthday)
Age at Maturity 18 to 75 years
Policy Term 10 to 25 years
Premium mode Single Premium only
Basic Sum Assured
50000 and above ( In multiples of 5000) – No
upper Limit.
Sum Assured
3,00,000 and
above
2,00,000 to
2,95,000
1,00,000 to
1,95,000
50,000
to
95,000
Rebate (Rs.) 30‰ SA 25‰SA 18‰SA Nil
Rebate for High Sum Assured

The policy can be surrendered at any time during the policy term.
Higher of Guaranteed Surrender Value or Special Value shall be payable.
Guaranteed Surrender Value(GSV):
1st Year ~ 70% of Single Premium excluding taxes and extra premium,
if any.
Thereafter ~ 90% of Single Premium excluding taxes and extra
premium, if any.
Plus Surrender Value of vested bonuses.
Special Surrender Value (SSV):
Discounted value of Sum Assured and vested simple reversionary bonuses

S~ Single Premium -One time investment.
P~ Protection -Risk Cover# for full Sum Assured.
E~ Excellent for meeting educational needs of young ones.
C~ Children from the age of 90 days can be covered.
I~ Ideal for investment planning-Wide range of policy term.
A~ Attractive - participates in profits.
L~ Liquidity through Loan.
Why
…………Because it is
SPECIAL

LIC’s New Jeevan Nidhi
PlanNo. 818

LIC’s New Jeevan Nidhi - Highlights
• Life Protection ~
Insurance Cover upto Date of Vesting
• Pension ~
Option To purchase an Immediate Annuity
or
To purchase New Single Premium Deferred
Pension Plan
• Guaranteed Additions ~
For the first 5 years @ Rs.50‰ Basic Sum

LIC’s New Jeevan Nidhi - Highlights
• Participation in Profits ~
After 6th policy year, benefit of Vested Bonus and
Final Additional Bonus (if any).
• Flexibility ~
Premium Payment Frequency-SinglePremium,
Yearly,Half-yearly,Quarterly,Monthly(ECS/SSS)
• Customisation –
Option for Accident Benefit Rider under Regular

Description Minimum Maximum
Age at Entry 20 years 60 years
Age at Vesting 55 years 65 years
Deferment period 5 years 35 years
Sum Assured
Single Premium
Rs.150000/-
No Limit
Regular Premium
Rs.100000/-
The Sum Assured under Basic Plan shall be in
multiples of Rs.5000/-
Premium Mode
Single Premium, Yearly, Half-yearly, Quarterly,
Monthly [ECS or SSS]
LIC’s New Jeevan Nidhi- Eligibility Conditions

LIC’s New Jeevan Nidhi - Benefits
Benefit on Vesting
Basic Sum Assured
+
Accrued Guaranteed Additions
+
Vested Simple Reversionary Bonuses &Final Additional
Bonus(if any)
Commute as per Income Tax
rules and purchase Immediate
Annuity with the balance amount
at the then prevailing Immediate
annuity rate
Purchase a new Single Premium
deferred pension product from
LIC

LIC’s New Jeevan Nidhi - Benefits
Death Benefit
First 5
policy
years
6th year
onwards
Basic Sum Assured
+
Basic Sum Assured
+
+
Vested Bonuses & Final
Additional Bonus (if any)
The Benefit shall be paid to the nominee as lump sum OR
In the form of Annuity OR
Partly in lump sum and balance in the form of Annuity at the then
prevailing Immediate annuity rates

LIC’s New Jeevan Nidhi - Profits
Guaranteed Additions
Payable for the first five years @ Rs.50/- per thousand Basic Sum
Assured for each completed year.
Participation in profits
•Simple Reversionary Bonus shall be added from the 6th policy
year onwards till the end of the deferment period and at such
rates as may be declared by the Corporation.
•Final Additional Bonus shall be payable either on vesting or
on earlier death at the rates declared by the Corporation.

Event Benefits
Death due to Accident
Accident Benefit Sum Assured will be payable as
lump sum along with the death benefit under the
Basic plan.
Disability due to
Accident
All Future Premiums are waived and
An amount equal to the Accident Benefit Sum
Assured will be paid in monthly installments spread
over 10 years.
Description Minimum Maximum
Age at Entry 20 years 60 years
Sum Assured Rs. 100000/- Rs.50 lakh overall limit considering the Accident
Benefit Sum Assured in respect of all
existing/proposed individual life insurance and
group policies
Term Same as Basic Plan
LIC’s New Jeevan Nidhi – Accident Benefit Rider
Eligibility Condition for Accident Benefit Rider

LIC’s New Jeevan Nidhi- Other features
Back –dating – Allowed within same Financial year.
Revival -A policy may be revived within a period of 5 years from
the date of First Unpaid premium and before the date of vesting
by payment of Arrears of premium plus Interest and subject to
continued insurability.
Surrender-The policy can be surrendered at any time on payment of
at least 3 years’ premiums and after completion of at least 3
policy years but before the date on which annuity vests. The
Surrender Value payable shall be the higher of Guaranteed
Surrendered Value and Special Surrender Value. The Surrender
proceeds shall be utilized to purchase an immediate annuity
product or a new Single Premium deferred pension product from
LIC.
Claims Concession - Allowed

Jeevan Nidhi meets all your needs across the time
horizon-
Life cover now and Pension afterwards!
Life Insurance cover till the date of vesting
For the wellbeing of your loved ones!
And Annuity/Pension after vesting-
For your wellbeing in
later years!!!
Why-LIC’s New Jeevan Nidhi !!!

LIC’s NEW MONEY BACK PLAN
20 Years
( Plan No. 820 )
UIN : 512N280V01

Money Back Plan -20 years
Plan No. 75
New Money Back Plan – 20 years
Plan No. 820
40% of the Basic Sum Assured along
with
with
and
Basic Sum Assured(BSA) along with
and
The death benefit as defined above shall
not be less than 105% of total
premiums* paid as on the date of death .
Modification-
‘Sum Assured on
Death' instead of
SA
LIC’s New Money Back Plan -20 years ~ Benefits

OR
[Premiums - excluding taxes, extra premiums and premiums for riders, if
any]

Survival Benefit
Policy Year 5th 10th 15th
Survival Benefit
Payable
20% 20% 20%
Plan No. 75
Plan No. 820
Paid-up value per thousand Sum Assured
Paid –up value shall be equal to
[(Number of premiums paid/ Total
Number of premiums payable)x Basic
Sum Assured less total amount of
Survival Benefits paid under the policy.
Year ‰ Year ‰
6,11 70 15 50
2,7,12 140 16 120
3,8,13 210 17 190
4,9,14 280 18 260
19 330
20 400
NO
Change
in SB
Paid-up
Value
modified

Particulars
( Plan No. 75)
New Money Back Plan – 20
years ( Plan No. 820)
Age at Maturity Maximum 70 years Maximum 70 Years
Policy Term 20 years 20 years
Premium
Paying Term
20 Years 15 Years
Premium mode
Yearly, Half-yearly, Quarterly,
Monthly (SSS or ECS)
Basic Sum
Assured
50,000 and above
1,00,000 and above
Premium
Paying
term
modified
LIC’s New Money Back Plan -20 years ~
Minimum
Sum
Assured
modified

Mode
Rebate
Plan No. 75 Plan No. 820
Quarterly Nil Nil
Plan No. 75
Plan No. 820
1,00,000 and above 2.00‰ SA 5,00,000 and above 3.00‰ BSA
50001 to 1,00,000 1.00‰ SA 2,00,000 to 4,95,000 2.00‰ BSA
Upto 50000 Nil 1,00,000 to 1,95,000 Nil
Slab & Rate
modified
Rate
modified
LIC’s New Money Back Plan -20 years ~ Rebates

Plan No. 75
Plan No. 820
premiums.
Available after payment of 3 full years premiums.
policies and 85% of the Surrender Value
in case of Paid-up policies.
The maximum amount of loan that can be granted
as a percentage of Surrender Value be as under:
For inforce and fully paid-up policies – upto 90%
For paid-up policies – 80%
Foreclosure action shall be initiated on
default of 2 or more half-yearly loan
interest installments.
Foreclosure action shall not be taken under fully
paid-up and inforce policies even if there is
% of loan
modified
LIC’s New Money Back Plan -20 years ~ Loan

premiums.
premiums.
Before Payment of Survival Benefit:
After Payment of Survival Benefit:
GSV shall be 30% of the premiums paid after
the due date on which last SB was paid less
GSV shall be a percentage of total premiums
paid (net of taxes) excluding extra premium, if
any and premium paid for riders, if opted for.
Less any survival Benefits already paid.
Examples of GSV factors applicable for total
premiums paid
3 = 30%
5 = 50%
Cash Value of vested bonuses, if any. GSV factor applicable to vested bonus, if any.
Examples of Vested bonus factors –
Year of SV – Factor
3 16.21%
10 18.16%
19 30%
GSV %
modified
Bonus
Payable
modified
No
Change
LIC’s New Money Back Plan -20 years ~ Surrender Value

Plan No. 75
Plan No. 820
The discount factors shall be special
surrender value factors as provided in Table-
1A of the Special Surrender Value Booklet
and will depend upon the policy term and
duration elapsed since the commencement of
the policy.
the policy.
payable.
payable.
No change in SSV

Plan No. 75
Plan No. 820
A Policy may be revived within a period
of 5 years from the date of first unpaid
premium.
premium.
corporation.
the following Items
Back Dating
Grace Period
LIC’s New Money Back Plan -20 years

LIC’s NEW MONEY BACK PLAN
25 Years
( Plan No. 821 )
UIN:51278VO1

Plan No. 93
Plan No. 821
with
and
with
and
Final Additional Bonus, if Any
Sum Assured(SA) along with Vested
Simple Reversionary Bonuses and
and
The death benefit as defined above shall
not be less than 105% of total
premiums* paid as on the date of death .
Modification- ‘Sum
Assured on Death'
instead of SA

OR
[*Premiums - excluding taxes, extra premiums and premiums for riders, if
any]

Survival Benefit
Policy Year 5th 10th 15th 20th
Survival
Benefit Payable
15% 15% 15% 15%
Plan No. 93
Plan No. 821
Paid-up value per thousand Sum Assured
Paid –up value shall be equal to
[(Number of premiums paid/ Total
Number of premiums payable)x Basic
Sum Assured less total amount of
Survival Benefits paid under the policy.
Year ‰ Year ‰
6,11,16 62 20 90
2,7,12,17 124 21 152
3,8,13,18 186 22 214
4,9,14,19 248 23 276
24 338
25 400
NO
Change
in SB
Paid-up
Value
modified

Particulars
( Plan No. 93)
New Money Back Plan – 25
years ( Plan No. 821)
Age at Maturity Maximum 70 years Maximum 70 Years
Policy Term 25 years 25 years
Premium
Paying Term
25 Years 20 Years
Premium mode
Basic Sum
Assured
50,000 and above
1,00,000 and above
Premium
Paying
term
modified
LIC’s New Money Back Plan -25 years ~
Minimum
SA
modified

Mode
Rebate
Quarterly Nil Nil
Plan No. 93
Plan No. 821
1,00,000 and above 2.00‰ SA 5,00,000 and above 3.00‰ BSA
50001 to 1,00,000 1.00‰ SA 2,00,000 to 4,95,000 2.00‰ BSA
Upto 50000 Nil 1,00,000 to 1,95,000 Nil
Slab & Rate
modified
Rate
modified
LIC’s New Money Back Plan -25 years ~ Rebates

Plan No. 93
Plan No. 821
premiums.
Available after payment of 3 full years premiums.
policies and 85% of the Surrender Value
in case of Paid-up policies.
The maximum amount of loan that can be granted
as a percentage of Surrender Value be as under:
For inforce and fully paid-up policies – upto 90%
For paid-up policies – 80%
Foreclosure action shall be initiated on
default of 2 or more half-yearly loan
interest installments.
Foreclosure action shall not be taken under fully
paid-up and inforce policies even if there is
% of loan
modified
LIC’s New Money Back Plan -25 years ~ Loan

premiums.
premiums.
Before Payment of Survival Benefit:
After Payment of Survival Benefit:
GSV shall be 30% of the premiums paid
after the due date on which last SB was paid
less extra premium, if any.
GSV shall be a percentage of total premiums
paid (net of taxes) excluding extra premium, if
any and premium paid for riders, if opted for.
Less any Survival Benefits already paid.
Examples of GSV factors applicable for total
premiums paid
3 = 30%
5 = 50%
Cash Value of vested bonuses, if any. GSV factor applicable to vested bonus, if any.
Examples of Vested bonus factors –
Year of SV – Factor
3 15.28%
20 21.99%
24 30%
GSV %
modified
Bonus
Payable
modified
No
Change

Plan No. 93
Plan No. 821
the policy.
the policy.
payable.
payable.
No change in SSV

Plan No. 93
Plan No. 821
premium.
premium.
Corporation.
the following Items
Back Dating
Grace Period
LIC’s New Money Back Plan -25 years

LIC’s New ANMOL JEEVAN II
PlanNo. 822

LIC’s ANMOL jeevan II
FEATURES
• Pure Term Assurance Policy
• Low premium, high risk cover plan
• Ideal for:
• Youngsters who have just started their
career
• People not interested in returns but pure risk
cover only
• People with financial liabilities

Low Cost – benefit
• High risk cover for low premium cost
• Risk cover available till age 65
• Sum assured is payable to nominee on death of
the policyholder

Cost Effective
• Get higher amount of insurance cover at a very
fractional cost as compared to a traditional
endowment or whole life insurance plan

DEATH BENEFIT
• Full Sum Assured is paid to the Nominee
in the event of death of the Policy Holder

Maturity
• No maturity benefit would be payable to the
policyholder at the end of the term

Features not available in the plan
• Maturity - No Maturity would be given to
the policyholder at the end of the term
• Surrender value - No surrender value will be
available under this plan
• Loan - Loan facility is not available in this plan
• Paid up value -The policy will not acquire any paid
up value

PLAN SPECIFICATION
Term Age Sum Assured
Minimum 5 yrs
18 yrs
(completed) 6,00,000
Maximum 25 yrs
55 yrs
(nearest
birthday)
24,00,000

Why term plan from LIC?
• India's largest life insurance company
• No 1 in claim settlement among all insurance
companies in India
• Market leader in terms of market share and
first year premium of policies

LIC’s Claim Settlement Performance (2012-13)
• Total claims settled— 183.63 lakh claims,
amounting to Rs.74077.84 crores.
• 52.53% of Maturity Claims settled on or before
the date of maturity.
• 88.05% of Non-early Death claims settled
within 15 days of intimation.
• Outstanding Claims Ratio—(Maturity +
Survival Benefit): 0.53%
• Outstanding Claims Ratio—(Death Claims) :

Is it worth buying the cheapest term policy in the
market?
• Cheapest may not always be the best
• Check the claim settlement record of the
company before buying?

LIC Limited payment
Endowment plan
Table No. 830

PLAN HIGHLIGHTS
• Conventional with-profits endowment
assurance plan
• Limited premium payment term

BASIC CONDITIONS
Minimum Age at Entry 18 Years
Maximum Age at Entry 62 limit
Policy Term 12/16/21 years
Minimum Maturity Sum
Assured
3,00,000
Maximum Sum Assured No Limit (in multiples of
10,000)
Premium Paying Term 8 & 9 years

BENEFITS
MATURITY BENEFIT
Maturity Sum Assured + Simple Reversionary
Bonus+ Final Addition Bonus (if any)

BENEFITS
DEATH BENEFIT
Maturity Sum Assured + Simple Reversionary
Bonus+ Final Addition Bonus (if any)

 BENEFITS
1. Installment Benefit:
After completion of Age : 18 - 20% of S.A.
" 20 - 20% of S.A.
" 22 - 20% of S.A.
2. Maturity Benefit:
This Policy Matures at the Age 25
40% of S.A. + Bonus + F.A.B.

• Option to defer the Survival Benefit(s):
• The policyholder will have the option to take the survival
benefit (s) at any time on or after its due date. In case of
deferment of a due survival benefit(s) opted by the
policyholder, the Corporation will pay increased survival
benefit (s) equal to
• Survival Benefits % * Sum Assured * Factor applicable to
Survival Benefit (s)

• Death Benefit:
• After Risk Cover: Natural or Accidental Death Full
S.A. + Bonus + F.A.B.
• the actual risk cover only after completing age of 8
years or after two years from the date of
commencement of Policy whichever is earlier.
• If death occurs before this period, only the premiums
paid excluding taxes, extra premium and rider
premium, if any shall be payable as claim.

• Mini & Maxi Age at entry 0 to 12 lbd.
• Age at maturity 25 years.
• Policy Term & P.P.T. (25- age at entry) years.
• Riders PWB available
• Premium Mode Yly, Hly, Qly , SSS and ECS.
• Mini Sum assured 100,000
• Maxi SA equal to parent’s insurance
• Mode Rebate: Yly: 2% of TP,Hly: 1% of TP,
• Date Backing Lean month benefit allowed.
• Surrender & loan Allowed.
• High Sum Assured Rebate: Basic S A Rebate (Rs.)
1,00,000 to 1,90,000 Nil
2,00,000 to 4,90,000 2
5,00,000 and above 3
• Proposal Form 340 or 360 and 300 (in case of PWB),

Benefits payable on
maturity:
“Sum Assured on
Maturity” + bonuses & Final
Additional bonus, if any is
payable.

• Benefits payable on death:
• Sum Assured on Death + Bonuses & Final
Additional Bonus, if any, shall be payable in
following manner.
• Annual Income Benefit equal to 10% of the Basic
Sum Assured (till policy anniversary prior to date of maturity)
• Assured Absolute Amount of 110% of Basic Sum
Assured, payable (on due date of maturity)
• Along with Bonuses & Final Additional Bonus, if any,
on maturity. (on due date of maturity)

• Eligibility:
• Mini & Maxi Age at entry 18 to 50 years lbd.
• Age at maturity 65 years.
• Policy Term 13 to 25 years.
• PPT (Policy Term - 3) years
• Premium Mode Yly, Hly, Qly , SSS and ECS.
• Mini Sum assured 100,000. No upper Limit.
• Riders: DAB available upto 1 crore &Term Rider upto 25
Lacs including previous TR.
• Age proof Only Standard age proof and NSAP
I & II acceptable.**
Mode Rebate: Yly: 2% of TP, Hly: 1% of TP,
Qtly & monthly : NIL

 Date Backing Allowed with Lean month benefit.
 Surrender & loan Allowed.
 Female All categories allowed. **
 Non Medical allowed as per present rules. **
 NRI Allowed for Both NRI and FNIO in V,VI & VIII
countries. **
 High S A Rebate: Basic Sum Assured Rebate
(Rs.)
 1,00,000 to 1,90,000 Nil
 2,00,000 to 4,90,000 2
 5,00,000 and above 3
 Proposal Form 300


LIC’S PLAN NO. 834
JEEVAN TARUN
PLAN

INTRODUCTION
• Lic Jeevan Tarun plan 834 is a Non-linked,
with-profits, optional money back plan which
was introduced by LIC (Life Insurance
Corporation of India).
• It is a limited premium plan specially
designed to meet the specific expenses such
as
• children's education,
• marriage and
• other needs in the future.

Entry Age
• Minimum: 90 days
• Maximum: 12 years

Minimum/Maximum Maturity
Age
• 25 years

Policy term
• 25 years – Age at entry (years)

Premium Paying Term
• 20 years – Age at entry (years)

Sum Assured (SA)
• Minimum: Rs. 75,000/-
• Maximum: No limit
• (SA shall be in multiples of
• 5,000/- from SA 75,000/- to 1,00,000/-
• 10,000/- for SA above 1,00,000/-)

Survival Benefit
Policy Anniversary
coinciding with /
following the
completion of ages
Percentage of Sum Assured to be paid as SB
(Survival Benefit)
Option 1 Option 2 Option 3 Option 4
20 to 24 years Nil
5% each
year
10% each
year
15% each
yea

Maturity Benefit
• On Survival of the life assured till the end
of the policy term,
• Maturity Benefit = Sum Assured on
maturity + vested Simple Reversionary
Bonuses + Final Additional Bonus, if any
Options Maturity Benefit
Option 1 100% of Sum Assured

Death Benefit
• On Death before the Date of
commencement of risk: Death benefit =
Total no. of premiums paid – taxes, extra
premium and rider premium (if any)
• On Death after the Date of
commencement of risk: Death benefit =
‘Sum Assured on death’ + vested Simple
Reversionary Bonuses + Final Additional
Bonus, if any.

Premium Waiver Benefit Rider
Entry Age:
•Minimum: 18 years
•Maximum: 55 years
Term of the Rider:
•20 – Age of the child at the time of
opting the rider
Maximum Cover ceasing age: •70 years

New Endowment Plus
Plan No. 835
UNIQUE IDENTICATION NO
512L301V01

Salient Features
• New Endowment Plus is ULIP Plan.
• This Plan came after a gap of nearly 2
years after last ULIP Plan was withdrawn.
• This Plan has been developed considering
past experience and new IRDA guidelines
providing safety of capital with some new
very unique features to safe guard
customer interest.

Parameters
• Minimum Age : 90 days (LBD)
• Maximum Age : 50 Years (NBD)
• Maximum Maturity Age : 60 Years (NBD)
• Minimum Entry Age DAB : 18 Years (LBD)
• Maximum Entry Age DAB : 55 Years (NBD)
• Minimum Term : 10 Years
• Maximum Term : 20 Years
• Minimum Premium
.. Yearly : 20000
.. Half Yearly : 13000
.. Quarterly ` : 8000
.. Monthly (ECS) : 3000

Life Risk Cover
• 10 times of Annualized premium or 105%
of total premiums paid or Fund Value of
invested amount whichever is higher.

How this policy runs
• First, Customer chooses the amount he
wants to invest and term.
• He can choose, yearly/Half Yearly/
Quarterly/ Monthly ECS Mode.
• He also decides the term which could be
10 to 20 years
• Life Risk cover is 10 times of annualized
premium or 105% of total premium paid,
whichever is higher.

• As already stated, Minimum Yearly premium is
Rs 20000/-
• For Half Yearly/Quarterly & Monthly (ECS)
modes it is Rs 13000/8000 & 3000 respectively.
• For example, one wants to invest Rs 10000
monthly premium. Then the risk will be
10000x12x10 =1200000/-

• On death during the term, nominee gets either sum
assured or total accumulated funds whichever is
higher.
• If DAB opted, and person dies by accident then
another sum assured is also paid.
• Taking the example, person paying Rs 10000 pm
for 5 years and he dies. He has already paid Rs
600000.
• His nominee will get Rs 1200000.
• However, if total fund for example is Rs 1300000,
then nominee gets Rs1300000.

Salient Features of New Endowment Plus
• If policy holder survives opted term and he
has paid all premiums then at the end of said
term (maturity) he is paid fund generated
from his investments.
• He/she has 2 options to take his/her moneys.
This is called settlement options
1. He can take full amount immediately.
2. He can ask for payment in 5 yearly or 10 Half-yearly
installment. In this case total units available in his
account are divided into 10 equal parts. 1/10th is paid
every half yearly at NAV of units on such date.

Expenses to be recovered
:
Premium Band
(per annum)
Allocation charge
First year
2nd to 5th
year
thereafter
20000 & above 7.50% 5.00% 3%

Expenses during the Term
• Since policy holder’s balance amount has
been converted into Units, LIC shall
recover Mortality, Dab, Policy
Administration charges and Fund
Management Charges by canceling units at
prevalent NAV.

Options for Investment
Fund Type Investment in
Government /
Government
Guaranteed
Securities /
Corporate
Debt
Short-term
investments
such as
money
market
instruments
Investment in
Listed Equity
Shares
Details and
objective of the
fund for risk / return
Bond
Fund
Not less than
60%]
Not more
than 40%
Nil Low risk
Secured
Fund
Not less than
45%
Not more
than 40%
Not less than 15%
&
Not more than 55%
Steady Income –
Lower to
Medium risk
Balanced
Fund
Not less than
30%
Not more
than 40%
Not less than 30%
&
Not more than 70%
Balanced Income
and growth –
Medium risk
Growth
Fund
Not less than
20%
Not more
than 40%
Not less than 40%
&
Not more than 80%
Long term Capital
growth – High risk

Discontinued Fund
• A new concept.
• As per norms, policy holder has to run this policy for minimum 5 years.
After this, he can simply surrender the policy.
• However, if due to reasons, he is not in position to pay premiums for 5
years, then policy lapses in around 2 months.
• After this period, policy is considered as surrendered and after deducting
surrender charges, LIC compulsorily converts balance fund in a
Discontinued fund. This fund invests moneys in Money markets and
government securities.
• Presently interest on this securities is near to 8%. However, as per IRDA,
we minimum guarantee 4%. Both ways customer loses nothing.
• This is a new feature to protect customer interest as his balance invested
money still earn a handsome return

Surrender
• Allowed after 5 completed years.
• If policy holder wants to surrender before 5 years, then surrender
charges are applicable. After 4 years no surrender charges.
Where the policy is
discontinued during
the policy year
Discontinuance charges for the policies
having annualized premium up to
Rs. 25,000/-
Discontinuance charges for the
policies having annualized premium
above Rs. 25,000/-
1
Lower of 15% * (AP or FV) subject
to a maximum of Rs. 2500/-
to maximum of Rs. 6000/-
2
Lower of 7.5% * (AP or FV) subject to
a maximum of Rs. 1750/-
3
Lower of 5% * (AP or FV) subject to a
maximum of Rs. 1250/-
4
Lower of 3% * (AP or FV) subject to a
maximum of Rs. 750/-
5 and onwards NIL NIL
AP – Annualised Premium
FV – Policyholder’s Fund Value as on the date of discontinuance

DISCONTINUANCE OF PREMIUMS:
• One month time is given as grace period
to pay premium.
• If not paid, a letter will be sent by LIC
within 15 days of end of grace period. 30
days after issue of letter following 2
scenario may emerge:

If the policy is discontinued on or before the
expiry of the 5 years’ lock-in-period:
• Policyholder has to exercise one of the following options within a
period of thirty days of receipt of such notice.
Option Description
1 Pay the due premium (s) during the notice period
2 Revive the policy at any time within a revival period of
two years from the date of discontinuance
3 Complete withdrawal from the policy without any
insurance cover, or
No option
selected
Payout the proceeds at the end of lock-in-period or
2 years’ revival period, whichever is later

• If Policyholder exercises Option (1) i.e. pays the due premium(s)
during the notice period, then the policy shall continue as in force
policy.
• If Policyholder exercises Option (2), then the Policyholder’s Fund
Value after deducting the Discontinuance Charge as specified in
Para 3.(IV).e) shall be transferred to the Discontinued Policy
Fund and shall be invested in debt instruments
• In case the Policyholder revives the policy during the revival
period of 2 years, the policy shall be revived and discountinue
charges (Deducted earlier) shall be added back to fund and
transferred back to either of 4 funds as chosen by LA
• In case the Policyholder does not revive the policy during the
revival period of 2 years, then the policy shall be terminated on the
expiry of the revival period or on the completion of 5 years’ lock-in-
period, whichever is later and the proceeds of the Discontinued
Policy Fund shall be payable.

If the policy is discontinued after the expiry of
5 years’ lock-in- period
• Policyholder has to exercise one of the following options available
within a period of thirty days of receipt of such notice.
Option Description
1 Pay the due premium(s) within the notice period
2 Revive the policy at any time within a revival period of two years
From the date of discontinuance or up to the date of maturity,
whichever is earlier
3 Complete withdrawal from the policy without any insurance cover
4 Convert the policy into paid-up policy, or
No option
selected
Treatment will be as if Option 3 were selected (This implies that for 2
years, risk cover will continue and after these 2 years, policy funds
shall be refunded to policy holder)

Partial Surrender
• One can partially surrender his policy by requesting
for encashment of certain units which his unit
account holds.
• He can also request for a fixed amount. Accordingly
units shall be canceled.
• This is allowed any time after completion of 5 year.
• For minors it is allowed on or after he acquires 18
years of age.
• Partial surrender is allowed subject to minimum
balance of 2 annualized premiums in his unit
account.
• For 2 years his basic sum assured shall be reduced
to the extent of partial surrender amount

Non Negative Claw Back Additions
• At various durations starting from 5th year, LIC
will calculate gross yield on the moneys invested
till date by adding premiums paid by customer
and returns on them.
• From this there will be reduction of partial
withdrawal. This will provide gross yield till date.
• Then LIC will calculate nett yield, which will be
based on projected gross yield already attained.
• This nett yield shall exclude future mortality,
DAB, service tax etc.
• This is called calculated Reduction in Yield (RIY)

Above calculated RIY will then be compared with the
maximum RIY requirement table below:
Maximum Reduction in Yield (difference between Gross and Net Yield)
No. of
years
elapsed
since
inception
5 6 7 8 9 10 11 12 13 14 15
and
there
after
For
continuing
policies
4% 3.75% 3.50% 3.3% 3.15% 3% 2.75% 2.75% 2.5% 2.5% 2.25%
maturing
policies
3% 2.25% 2.25% 2.25% 2.25% 2.25%

• If the difference between calculated RIY and
Maximum RIY required is positive then an
equivalent number of units shall be added to the
Policyholders’ Fund in such a way that the
calculated RIY shall be equal to the maximum
RIY. The same shall be called as Non-negative
claw-back addition. The units of the Non-
negative claw-back shall be based on the NAV
declared as on the date of Non-negative claw-
back addition.

Example
• At the beginning of 5th year, gross yield is 9% and expected
nett yield is 8%.
• As per parameters calculated reduction in yield is 1%.
• As per IRDA regulation, maximum reduction (RIY) in yield
allowed could be 4%.
• Thus calculated RIY is 3% positive.
• Now LIC will add such additional fund available back into
customer’s UNIT ACCOUNT as per the fund held @ of NAV
on the day of action.
• For example he has 5 lacs in his UNIT ACCOUNT, and
positive is RIY is 3% and NAV is Rs 15/-.
• We will add Rs 15000/- (3%) as 1000 UNITS (15000/15)
• By this action, calculated RIY and Maximum RIY shall be
equal.

Other features : Switching
• When policy holder takes Endowment
plan he/she has to choose one option
of investment by LIC i.e. Bond,
secured, balance, or growth.
• However during each policy year
he/she can switch 4 times from one
fund to another.
• For further switches Rs. 100/- shall be
charged per switch.

Top Up (Additional Premium)
• Not allowed.
BACK DATING:
Back dating of policy will not be
allowed

Loan
• No Loan facility since partial surrender is
allowed

ALTERATIONS
• Allowed like change of mode to higher
frequency, reduction of sum assured,
grant of accident benefit after
commencement.
• Rs. 50/- shall be charged.

COOLING-OFF PERIOD:
• If a policyholder is not satisfied with the “Terms and
Conditions” of the policy, he/she may return the
policy to the Corporation within 15 days from the
date of receipt of the policy. The amount to be
refunded in case the policy is returned within the
cooling-off period shall be determined as under:
• Value of units in the Policyholder’s Fund
Plus unallocated premium.
Plus Policy Administration charge deducted
Less charges @ Rs.0.20%o Sum Assured under the
Basic Plan
Less Actual cost of medical examination and special
reports, if any.
In case the policy is returned during the cooling-off
period, Commission shall be recovered from the
concerned Agent

Commission to Agents
• Year Commission
• First 5%
• 2nd & 3rd Year 3.5%
• Thereafter 2.50%
There will be 40% bonus commission on the
first year commission under the policies.

165
Introducing
LICs New Health Plan
Jeevan Arogya
Table no. 904

166
Special Attractions
 Maximum Number of days for HCB increased
to 720 days
 Maximum Number of days for ICU increased
to 360 days
 No of Surgeries in MSB increased to 140
MSB available for Minors also
 Addition of 140 Day Care Procedures (DCPB)
 All other Surgeries covered under
Other Surgical Benefit (OSB)

167
Special Attractions
 Age at entry for PI and Spouse increased to
65 Years
 Age at entry for Parents and Parents-in-law
is 75 Years
 Maximum Health cover for elders - up to 80
Yrs
 Premiums are guaranteed for 3 Yrs
 Optional Term Rider and Accident Benefit

168
IT Rebate Under Section 80(D)
available for Full Premium Paid

169
USP of LICs Jeevan Arogya
Comprehensive Family Health plan:
Covering entire family consisting of
 Husband
 Wife
 Dependent Children
 Dependent Parents of Husband
and/or Wife

Entry age limits-LICs Jeevan Arogya
 Entry Age up to 65 yrs for Husband and wife.
 Entry Age up to 75 yrs for parents/in-laws
Entry Age from 91 days to 17 years for
children
 Risk cover
Self, Spouse, Parents, in-laws : 80 Yrs
Children : 25 Yrs

171
A novel policy offering Multiple
benefits:
 Hospital cash benefit (HCB).
 Major surgical benefit (MSB)
 Day Care Procedure Benefit(DCPB)
 Other Surgical Benefit(OSB)

172
Other Benefits: -
 Premium waiver benefit
 Ambulance expenses
 Quick cash Advance Payment
 No claim bonus
 Auto increase in HCB& MSB to take care
of inflation with no increase in premium

LICs Jeevan Arogya
acs per insured
mit of 10 lacs (All
put togethor)
al after every three
 Risk cover up to 4 lacs per insured Subject to overall
limit of 10 lacs (All our Health Policies put togethor)
 Guaranteed renewal after every three yrs

HCB options for each Life
Rs.1000/- per Day

HCB limits for each Insured
P.I Min-1000,Max-4000
Spouse < or = P.I
Children < or = Spouse /
< or = P.I if no spouse
Parents < or = PI / Spouse

176
HCB - Benefits at a glance
HCB increases by 5% every year Up to1.5 times.
Eg. Rs 1000/- after 1 Yr becomes Rs.1050
and in the 11th Year becomes Rs.1500/-(Max)
Hospitalization eligibility condition:
Fraction of 4 Hours treated as a day
First 28 hrs eligible for 1 day benefit
First 24 hours No benefit
Exception: -When hospital stay exceeds continuous
period of 6 days and 4 hours, HCB for 7 days
(including First day also) will be allowed

177
HCB - Benefits at a glance
Annual limit
for each insured
Maximum limit for each
insured during entire
policy term
1st policy year
30 days of hospitalization of
which 15 days of ICU is
allowed.
subsequent years
Each year- 90 days of
hospitalization of which 45
days of ICU is allowed.
720 days .
of which
360 days of ICU
allowed

178
Hospital Cash Benefit( HCB)
Fixed per day benefit to cover expenses on the
event of hospitalization of insured members for
sickness/accidental body injury.
Benefit payout is fixed irrespective of actual
expenses incurred.

179
Major Surgical Benefit (MSB)
• MSB = (HCB X 100)
• MSB risk cover limits do
not include
MSB of Plan 901,
902 & 903

180
Major Surgical Benefit(MSB)
 A percentage of sum assured is paid in the event
of insured members undergoing specified
surgeries.
Benefit is fixed irrespective of actual expenses
incurred. Advantageous to the insured members
MSB is available to all the insured including
children for all ages

181
MSB- Benefits at a glance
MSB allowed for 140 surgical procedures
Annual Limit
100 times of HCB in a policy year (Min 1 Lac)
Life time Limit
800 times of HCB during entire policy term
(Min 8 Lacs)

182
Premium waiver benefit
In the event of any insured undergoing major
surgery under category I or 2 premium payable
for one year from the next premium due date
coinciding or following the date of surgery is
waived

183
Day care procedure benefit(DCPB)
DCPB = 5 X HCB
 140 Listed day care procedures
 3 Day care Procedures per year
 24 Day care Procedures in
Policy Life time

184
Other surgical benefit(OSB)
OSB = 2 x HCB
Any surgery other than MSB, DCPB surgeries
At least 24 hours stay in Hospital is required
Annual limit : 15 days in First policy year
45 days in each subsequent years
Life time limit : 360 days per insured

185
Term Assurance Benefit Rider
Minimum Term Assurance SA : Rs.
1,00,000
Maximum Term Assurance SA : Equal to
initial
MSB-SA (i.e.,100 X
HCB )
Term Assurance SA - in multiples of
Rs.25000/-
Minimum Entry Age 18 Yrs completed
Maximum Entry Age 50 Yrs (NBD)
Maximum age for cover 60 Yrs (NBD)
Maximum Term 35 Years

186
Accident Benefit Rider
This benefit is available only if Term Assurance Benefit rider is opted
Minimum Benefit : Rs. 25,000
Maximum Benefit : Equal to initial MSB-SA
( i.e.,100 X HCB)
AB Sum Assured shall be in multiples of Rs.5000/-
Minimum Entry Age 18 Yrs completed
Maximum Entry Age 50 Yrs completed
Maximum age for cover 60 Yrs completed
Maximum Term 35 Years

187
Quick cash facility
Advance amount to PI
Cat I or Cat II Surgeries
Hospitalized in a ‘Net work’ Hospital
PI/relative informs LIC/TPA
TPA processes request/advices LIC on payment
LIC credits eligible amount to PI Bank account

188
Ambulance charges
Rs. 1000/- reimbursed per insured towards
Ambulance charges
 Ambulance charges incurred for transportation
of the insured to undergo Major Surgeries
under category 1 or 2

189
No claim Benefit
 During the period between two automatic
renewal dates or From DOC to next Automatic
renewal date, if there are no claims in respect of
any insured, No claim Benefit is payable
No claim benefit would be equal to 5% of initial
Daily Benefit
Effective from the immediately following
automatic renewal date

190
Rebates available on Tabular premiums
Mode
Rebate
Rebate for HCB Opted
Hly Yly
2000 HCB 3000HCB 4000HCB
PI others PI others PI others
1% 2% Rs.500 Rs.250 Rs.1000 Rs.500 Rs.1500 Rs.750

191
Addition of members
Condition
When to
include
The cover
starts from
Marriage/remarriage of the
Principal Insured after DOC
Within 1 Year from
the date of
marriage
The following policy
anniversary
A Child born or Legally
adopted child after DOC
Health Cover starts from the policy anniversary
falling immediately after the child completes 3
months
Legally adopted child is more
than 3 months old
From the policy anniversary falling after date of
adoption
New members must be included by the Principal Insured only. No new members will be
allowed after the death of the principal insured.

192
Addition of newly eligible members during the
currency of the policy.
Fixed Benefit scheme: Benefit paid as opted
irrespective of actual expenses for
hospitalization and Surgeries
Benefits are payable independent of payments
received through mediclaim or any other health
schemes.

193
The policy lapses…
When premium is not paid within days of grace, the
policy lapses and no benefits will be payable there
after .
Policy can be revived within 2 years from the date of
first unpaid premium subject to payment of
outstanding premiums with interest and
underwriting.

0 days for accident claims
90 days from the Date of Commencement for HCB &
MSB
45 days after revival, if revived within 90 days from
FUP of the policy. for Hospital Cash Benefit and
Major Surgical Benefit
90 days if revived after 90 days from FUP
194
The waiting Period for availing the
benefits……………….

• Since it is purely MEDICAL INSURANCE
plan and premium does not have any
saving element hence there is no maturity
claim
• No Death claim under basic plan.
• Loan, surrender, assignment- n.a.
• Mode of payment- Yly, Hly
Things to remember:

All existing plans lic of india

All existing plans lic of india

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