Zero Rupee Per Day Term Plan

LIC's Jeevan Rakshak Plan

This is regular premium paying Non-linked, With Profits, Endowment Assurance plan. This plan shall be available to standard life only under non medical limit and the total Sum Assured under this plan shall not exceed Rs.2 Lac.

• Regular Premium Paying
• With Profit Endowment Assurance Plan
• Minimum Age at Entry – 8 Years Completed
• Maximum Age at Entry – 55 Year (Nearest Birthday)
• Policy Term  – 10 Years and 20 Years
• Premium Paying Term – Equals to Policy Term
• Maximum Maturity Age – 70 Years Nearest Birthday
• Mode – Monthly (SSS, ECS), Quarterly, Half Yearly and Yearly
• Loan – Allowed after payment of premiums for at least 3 years.
• Minimum Sum Assured – 75,000
• Maximum Sum Assured – 2,00,000
• Accident Benefit Rider – 0.50 Per Thousand
• Maturity Benefit – Basic Sum Assured + Loyalty Addition
• Death Benefit – Sum Assured and Loyalty Addition if Policy completed 5 Years ( Basic Sum Assured or 10 Times of Annualized premium or 105% of all premium paid on date of death)
• Double Accident Benefit – Allowed with Additional Premium
• Rebate – 2% for Yearly and 1% for Half Yearly
• NO Medical Check up Required
• Suicide Clause – If life insurance policy holder commits suicide at any time within 12 months from date of commencement of risk LIC will not entertain any claim under this policy.

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LIC's Jeevan Lakshya

LIC's Jeevan Lakshya is a participating non-linked plan which offers a combination of protection and savings. This plan provides for Annual Income benefit that may help to fulfill the needs of the family, primarily for the benefit of children, in case of unfortunate death of Policyholder any time before maturity and a lump sum amount at the time of maturity irrespective of survival of the Policyholder. This plan also takes care of liquidity needs through its loan facility.

1. Benefits:
Death Benefit:
On death of the Life Assured before the stipulated Date of Maturity provided the policy is in full force by paying upto-date premiums, Death Benefit, defined as sum of “Sum Assured on Death”, vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable.
Where “Sum Assured on Death” is defined as the sum of:

1. Annual Income Benefit equal to 10% of the Basic Sum Assured, which shall be payable from the policy anniversary coinciding with or following the date of death of Life Assured, till the policy anniversary prior to the date of maturity.
2. Assured Absolute Amount equal to 110% of Basic Sum Assured, which shall be payable  on due date of maturity; and
The vested Simple Reversionary Bonuses and Final Additional Bonus, if any, included in the Death Benefit,  shall be payable on due date of maturity.
The Death Benefit defined above shall not be less than 105% of all the premiums paid as on date of death.
Premiums referred above exclude tax, extra premium and rider premium(s), if any.
Maturity Benefit:
 “Sum Assured on Maturity” equal to Basic Sum Assured, along with vested Simple Reversionary bonuses and Final Additional bonus, if any, shall be payable in lump sum on survival to the end of the policy term provided all due premiums have been paid.
Participation in Profits:
The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation, provided the policy is in full force.
In case of death under a policy which is in full force, the policy shall continue to participate in profits upto the date of maturity and the entire vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable on due date of maturity. Hence, the Simple Reversionary Bonus and Final Additional Bonus, if any, shall be payable under the policy on due date of maturity irrespective of survival of the Life Assured.
In case the premiums are not duly paid (except in case of death of the Life Assured under inforce policy), the policy shall cease to participate in future profits irrespective of whether or not the policy has acquired paid up value. However, the policy shall be considered as inforce on death during the grace period.

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LIC's New Jeevan Anand Plan

LIC's New Jeevan Anand Plan is a participating non-linked plan which offers an attractive combination of protection and savings. This combination provides financial protection against death throughout the lifetime of the policyholder with the provision of payment of lumpsum at the end of the selected policy term in case of his/her survival. This plan also takes care of liquidity needs through its loan facility.
1. Benefits:
Death benefit :
Provided all due premiums have been paid, the following death benefit shall be paid:
On Death during the policy term: Death benefit, defined as sum of Sum Assured on Death and vested Simple Reversionary Bonuses and Final Additional bonus, if any, shall be payable. Where, Sum Assured on Death is defined as higher of 125% of Basic Sum Assured or 10 times of annualised premium. This death benefit shall not be less than 105% of all the premiums paid as on date of death.
The premiums mentioned above exclude service tax, extra premium and rider premiums, if any.
On death of policyholder at any time after policy term: Basic Sum Assured
Benefits payable at the end of Policy Term: Basic Sum Assured, along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable in lump sum on survival to the end of the policy term provided all due premiums have been paid.


Participation in Profits : The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation during policy term provided the policy is in full force.
Final (Additional) Bonus may also be declared under the plan in the year when the policy results into death claim during the policy term or due for the survival benefit payment provided the policy is in full force and has run for certain minimum term.

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