LIC Jeevan Surabhi

LIC Jeevan Surabhi (Table No.  108 ) for 25 Years Term Only.

Premium Ceasing Age : 70 Premium Ceasing Term : 18
Plan Highlights
Features
(LIC’s Jeevan Surabhi ) Table no 108. This plan is an improved version of Money Back Plan with an added element of increasing term insurance cover. The difference between the other money back plans and this plan is as follows:
• In case of this plan the maturity term is more than premium paying term.
• The survival benefit payment is early and gives a higher rate.
• Risk cover increases every five years.

Special Features
This plan has longer policy term and limited premium paying term. The policy term is 25 years and the premium paying term is 18 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 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, 12 years & 15 years 25% of Sum Assured
• At end of 25 years Maturity Amount
• On Maturity, the policyholder will receive the balance sum assured as given above plus 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-lOth (Policy Year) 500
llth-l5th (Policy Year) 1000
l6th-2Oth (Policy Year) 1500
2lst-26th (Policy Year) 2000
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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LIC Money Back for 20 Years

LIC’s Money Back Insurance Policy  20 Years Table  Plan No: 75

Premium Ceasing Age : 70 Premium Ceasing Term : 0
Plan Highlights
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 lic money back policy, of course so long as the policy holder is alive.
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 5 years , 10 years & 15 years 20% of Sum Assured
• At end of 20 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:
LIC Money Back 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.
LIC Money Back 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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Jeevan Rekha

LIC Jeevan Rekha Plan Table No 152:

Premium Ceasing Age : 100 Premium Ceasing Term : 0
Plan Highlights
Features
LIC’s Jeevan Rekha is a combination of the Whole Life Plan and the Money Back Plan. The plan offers high bonus, is highly liquid and is savings oriented. Also the premium under the plan is moderate.
This policy not only makes provisions for the family of the life assured in the event of his early death but also assures a lump sum at a desired age. The lump sum can be reinvested to provide an annuity during the remainder of his life or in any other way considered suitable at that time.
Special Features
A policy under this plan can be dated back within the same financial year. There will be no allowance for lean months. The rate of interest applicable will be as for Table 14.
Benefits
Accident Benefit:
Accident Benefit is available up to a maximum of Rs.10 lakh. This is inclusive of the maximum limit of Rs 10 lakh placed under other life insurance plans. Premiums for accident benefit are quoted separately for various ages at entry and premium paying terms.
Survival Benefits:
Ten percent of the basic Sum Assured will be payable to the life assured on survival after every five years from the date of commencement.
A policy under this plan will acquire paid-up value after at least 3 full years’ premiums have been paid. The policy will continue as single premium without profit whole life policy for the sum assured which will be arrived at by applying single premium equal to higher of the guaranteed surrender value and special surrender value as declared by the Corporation from time to time, based on the age nearer birthday at the date of lapse. Existing Bonus additions, if any, will remain attached to the paid-up policy, provided the policy has been in force for at least 5 years.
Death Benefits:
Sum Assured along with vested Bonuses are payable on death of the life assured whenever it occurs, irrespective of survival benefits paid already.
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