It is a Non-Par, Non-Linked, Life, Individual, Savings plan. This is a Limited Premium Endowment plan with Guaranteed Additions. The Premium Payment Terms (PPTs) available under the product are 6 years, 8 years, 10 years and 12 years.
Eligibility Criteria
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 Accident Benefit Rider
LIC’s New Term Assurance Rider
LIC’s Premium Waiver Benefit Rider
Maturity Benefit
Sum Assured on Maturity along with accrued Guaranteed Additions.
Guaranteed Additions during the policy term shall be added to the policy at the end of each policy year.
Loan Facility is available after completion of first policy year provided one full year’s premium has been paid.
Option to Surrender the Policy
The policy can be surrendered by the policyholder after completion of first policy year provided atleast one full year’s premium(s) has been paid. However, the policy shall acquire Guaranteed Surrender Value on payment of at least two full years premiums and Special Surrender Value after completion of first policy year provided one full year’s premium(s) has been paid. On surrender of an in-force or paid-up policy, the Corporation shall pay the surrender value higher of…
Guaranteed Surrender Value & any accrued Guaranteed Additions
Or Special Surrender Value.