LIC JEEVAN ANKUR Features :

•A must plan for all parents.

•Parent is the Life Assured, child is the Beneficiary.

•Death Benefit = Sum Assured + Income Benefit + Maturity Benefit *.

•Maturity Benefit = Sum Assured + Loyalty addition.

• Riders to customize Jeevan Ankur policy.

• Accident Benefit Rider
• Critical Illness Benefit Rider( With an additional option of Premium Waiver Benefit)

•Immediate payment of an amount equal to the Basic Sum Assured.

•Income Benefit – Income Benefit equal to 10% of the Basic Sum Assured is payable on each Policy anniversary from the policy anniversary coinciding with or next following the date of death, till the end of policy term to the nominee child.

•Another lump sum equal to Basic Sum Assured with Loyalty Addition, on the maturity date

Jeevan Ankur Eligibility conditions – Critical Illness Rider

Jeevan Ankur Eligibility conditions – Accident Benefit Rider

LIC Jeevan Ankur Benefit Illustration

Reasons to buy LIC Jeevan Ankur

•Monetary Benefits of the plan shall enable your child to meet important financial expenses during his/her growing-up years.

•The immediate payment of amount equal to the Sum Assured will help meet financial  needs that arise on demise of the Life Assured.

•Continued benefit of 10% of SA on every policy anniversary till Maturity is helpful in meeting educational  expenses from time to time.

•Plus the Maturity Benefits of  Basic Sum Assured  and Loyalty Additions, shall be available on maturity irrespective of your survival.

.You can customize your plan through Accidental Benefit Rider and Critical Illness Rider as additional security is always an added advantage.

• Complete family including Spouse, Children, Parents and Parents-in-laws can be covered under one policy
• Policy covers upto highest age – upto 80 years

Four types of benefits are covered

•   Hospital Cash Benefit (HCB)- This is the benefit payable on a daily basis as per the number of days hospitalised. In case of hospitalisation less than 7 days, first 24 hours are not payable. You can choose between Rs.1000 to Rs.4000 daily benefit. Further this benefit increases by 5% every year till it reaches 150% of initial HCB, thus taking care of inflating costs.
•  Major Surgical Benefit (MSB)- In the event of surgery this benefit is payable. MSB is 100 times of HCB. One Annual Premium will be Waived*.
• Day Care Procedure Benefit (DCPB)- Paid for specified Day-care procedures undergone. This is 5 times of the applicable HCB. You can avail this benefit upto 3 times in a year.
• Other Surgical Benefit (OSB) - This benefit is payable for surgeries not listed under MSB or DCPB. Like HCB this is also payable on daily basis (excluding first 24 hrs) and the amount is equal to 2 times of the applicable HCB.

Riders Available

• Term Rider - Life Insurance cover can be availed upto 100 times of HCB subject to a minimum of Rs.1,00,000. This cover can be upto age 60 and is available to the Principal Insured and his / her spouse only.
• Accident Benefit Rider - Additional cover against accident upto age 60 if Term Rider has been opted.

No Claim Benefit: - In case of no claim the HCB will increase after every 3 years.

Premium Rate Guaranteed for 3 years :- Your healthcare premium being charged today is guaranteed for 3 years. The Corporation may review the rates based on its experience after every 3 years.

No risk of market - This is a Non-ULIP, Non-participating policy. Hence all the benefits enumerated are guaranteed and not subject to volatile market conditions.

Tax Benefit – Premium paid is eligible for benefits under Section 80(D).

Plan Highlights:

Features
This policy covers the risk as long as the policyholder is alive. The premium is also payable
throughout the lifetime. If the payment of premiums ceases after three years, a free paid-up
policy for such reduced sum will be automatically secured provided the reduced sum assured,
exclusive of any attached bonus is not less than Rs.250/- Such a reduced paid-up policy is not
entitled to participate in the profits declared thereafter but the bonuses already declared on
the policy will remain attached, provided the policy is converted into a paid-up after premiums
are paid up for 5 years.
Special Features
As per LIC’s latest guidelines, premiums under this policy are payable up to the age of 80 or
for a 40 years term whichever is later. The maturity claim will also to be settled on completion
of permium paying term without waiting for the life assured’s death.
Benefits
Survival Benefits:
There are no survival benefits under this plan.
Death Benefits:
Sum Assured plus accrued Bonuses. The Terminal Bonus is paid if the policy was in full force at
least for 15 years before the death of the life assured.
Suitable for:
This policy is suitable for people of all ages who wish to protect their families from a financial
setback that may occur owing to their premature death.

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 Plan Highlights:

Under the Whole Life Policy premiums are payable throughout the life time of the life assured and, as such
this is the cheapest form of policy.
If payment of premiums ceases after at least three years premiums have been paid, a free paid-up policy for
such reduced sum as can be allowed according to the rules will be automatically secured provided the
reduced sum assured, exclusive of any attached bonus, is nott less than Rs. 250/-.
Such reduced paid-up policy will not be entitled to participate in the profits declared thereafter, but such
bonus as has already been declared on the policy, will remain attached therto.

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Features
The difference between the other money back plans and this plan is as follows:
Maturity term is more than premium paying term.
Early and higher rate of survival benefit payment.
Risk cover increases every five years.

Premium Ceasing Age : 70 Premium Ceasing Term : 15
Special Features
Longer policy terms and limited premium paying term – This plan has a policy term of 20 years
and premium paying term of 15 years.
Full sum assured is paid back as survival benefit by the end of premium paying term. However,
the risk cover and additional risk cover continue and the policy participates in profits until
the end of policy term.
Accident Benefit is restricted to the premium paying period and to the overall limit of Rs.5.00
lakhs on a single life.
Benefits
Survival Benefits:
This scheme provides for periodic payments of partial survival benefits as follows, during the
term of the policy, so long as the policy holder is alive.
At end of 4 years , 8 years , 12 years & 15 years 25% of Sum Assured
At end of 20 years on Maturity, the policyholder will receive the vested bonus(if any).
Death Benefits:
If death occurs at anytime during the term of a policy (provided the policy has been kept in
force by payment of all premiums that had fallen due), the basic sum assured along with the
vested bonus will be paid. The survival benefits already paid, if any, will not be deducted from
this claim amount. An additional amount (depending on the duration of the policy) will also be
paid on death under such a policy. The additional amounts payable, at various stages are
shown in the table given below.
Additional Amount Paid In Case Of Death For A Policy Of Rs.1000
First 5 (Policy Years) ———- Nil
6th-10th (Policy Year) ——— 500
11th-15th (Policy Year) ——– 1000
16th-20th (Policy Year) ——– 1500
Suitable for:
This plan holds special interest to people who besides wishing to provide for their old age and
family feel the need for lump sum benefits at periodical intervals.

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Premium Ceasing Age : 70 Premium Ceasing Term : 12
Special Features
Longer policy terms & limited premium paying terms as under:
This is a 15 years policy with 12 years of premium payment period.
Full sum assured is paid back as survival benefit by the end of premium paying term. However,
the risk cover and additional risk cover continue and the policy participates in profits till the
end of policy term.
Accident Benefit is restricted to the premium paying period and to the overall limit of Rs.5
lakhs on a single life.
Benefits
Survival Benefits:
This scheme provides for periodic payments of partial survival benefits as follows, during the
term of the policy, so long as the policy holder is alive.
At end of 4 years , 8 years 30% of Sum Assured
At end of 12 years 40% of Sum Assured
At end of 15 years on Maturity, the policyholder will receive the vested bonus(if any).
Death Benefits:
If death occurs at anytime during the term of a policy (provided the policy has been kept in
force by payment of all premiums that had fallen due), the basic sum assured along with the
vested bonus will be paid. The survival benefits already paid, if any, will not be deducted from
this claim amount. An additional amount (depending on the duration of the policy) will also be
paid on death under such a policy.
Additional amount paid in case of death for a Policy of Rs.1000
First 5 (Policy Years) ———- Nil
6th-10th (Policy Year) ——— 500
11th-15th (Policy Year) ——– 1000

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Features
Unlike ordinary endowment insurance plans where the survival benefits are payable only at the
end of the endowment period, this scheme provides for periodic payments of partial survival
benefits as follows during the term of the policy, of course so long as the policy holder is alive.

Plan Highlights

Premium Ceasing Age : 70 Premium Ceasing Term : 0

Benefits
Survival Benefits:
This scheme provides for periodic payments of partial survival benefits as follows, during the
term of the policy, so long as the policy holder is alive.
i) At end of 5 years , 10 years , 15 years & 20 years 15% of Sum Assured
ii) At end of 25 years 40% of Sum Assured and
On Maturity, the policyholder will receive the balance sum assured as given above plus the
vested bonus(if any).
Death Benefits:
Full sum assured plus bonus irrespective of survival benefits taken.
Suitable For:
This plan holds special interest to people who besides wishing to provide for their old age and
family feel the need for lump sum benefits at periodical intervals.
This plan meets with periodical needs although loans are not granted under this policy. A
terminal bonus is granted though.
The basic bonus under this plan is slightly lower than the rate applicable to endowment
assurances.

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Postal Life Insurance Schemes
SANTHOSH ( ENDOWMENT ASSURANCE )
SURAKSHA (WHOLE LIFE ASSURANCE )
SUVIDHA ( CONVERTIBLE WHOLE LIFE ASSURANCE )
SUMANGAL ( ANTICIPATED ENDOWMENT ASSURANCE )
YUGAL SURAKSHA ( JOINT LIFE ENDOWMENT ASSURANCE )
CHILDREN POLICY
 

Rural Postal Life Insurance Schemes
GRAM SANTOSH ( ENDOWMENT ASSURANCE )
GRAM SURAKSHA (WHOLE LIFE ASSURANCE )
GRAM SUVIDHA ( CONVERTIBLE WHOLE LIFE ASSURANCE )
GRAM SUMANGAL ( ANTICIPATED ENDOWMENT ASSURANCE )
GRAM PRIYA ( 10 YEARS RPLI )
CHILDREN POLICY

Rural Postal Life Insurance Schemes
GRAM SANTOSH ( ENDOWMENT ASSURANCE )
GRAM SURAKSHA (WHOLE LIFE ASSURANCE )
GRAM SUVIDHA ( CONVERTIBLE WHOLE LIFE ASSURANCE )
GRAM SUMANGAL ( ANTICIPATED ENDOWMENT ASSURANCE )
GRAM PRIYA ( 10 YEARS RPLI )
CHILDREN POLICY