• 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.

Back to LIC of India   Whole Life Plans   Money Back Plans   Endowment Plans    Children Plans   Unit Plans

 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.

Back to LIC of India   Whole Life Plans   Money Back Plans   Endowment Plans    Children Plans   Unit Plans

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

Back to LIC of India   Money Back Plans

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.

Back to LIC of India   Money Back Plans

Samridhi Plus features at glance:  

Benefits payable on death: In case of death of the policyholder when the risk cover is in full force, the nominee shall be eligible to get higher of Sum Assured under the Basic Plan and the Policyholder’s Fund Value as at the date of booking the liability.The policyholder’s Fund on death shall be determined at the prevailing NAV as on the date of booking of the liability.

Benefits payable on maturity: On the policyholder surviving at the end of policy term an amount equal to the Policyholder’s Fund Value based on the highest NAV over the first 100 months of the policy or the NAV as applicable at the end of the policy term, whichever is higher, shall be payable.

Accident Benefit Rider Option: Accidental death of the Policyholder during the term of the policy, a sum equal to the Accident Benefit Sum Assured will become payable, provided the Accident benefit cover is opted for and is in force.

This plan offers you everything you think of an insurance plan should provide:
1. Simplicity
2. Liquidity
3. Guaranteed minimum return
4. No medical examination
5. Transparent charges
6. Risk cover
Under this plan, the premiums paid by you, after deduction of charges, will be credited to the Policyholder’s Account maintained separately for each policyholder. The risk cover will be provided by deduction of mortality charges from the Policyholder’s Account.
If all due premiums are paid, the amount held in your Policyholder’s Account will earn an annual interest rate of 6% p.a. which will be guaranteed for whole of the policy term. In addition to this guaranteed return, if all due premiums are paid, your account may earn an additional return depending upon the experience under this plan.
You will also have an option to pay additional (Top-up) premiums without any increase in risk cover.
Loan facility will also be available immediately after first policy anniversary.

PAYMENT OF PREMIUMS: You may pay premiums regularly at yearly, half-yearly, quarterly or monthly (through ECS mode only) intervals over the term of the policy.

Policyholder’s Account shall consist of 2 parts:
1. Policyholder’s Regular Premium Account – to which regular premiums, net of charges, shall be credited.
2. Policyholder’s Top-up Premium Account – to which Top-up premiums, net of charges, shall be credited.

ELIGIBILITY CONDITIONS AND OTHER RESTRICTIONS:
(in years)
1. Minimum Entry Age : 11 (completed)
2. Maximum Entry Age : 50 (nearest birthday)
3. Policy Term : 5 to 7
4. Minimum Maturity Age : 18 (completed)
5. Maximum Maturity Age : 57 (nearest birthday)
6. Minimum Premium:
Regular premium:
Mode Instalment premium
Yearly ` 7,000
Half-yearly ` 4,000
Quarterly ` 2,000
Monthly (ECS) ` 600
Top-up premium: ` 1000
1. Maximum Premium:
Regular premium:
Mode Instalment premium
Yearly ` 14,000
Half-yearly ` 7,000
Quarterly ` 3,500
Monthly (ECS) ` 1100
Top-up premium: Sum total of Regular Premiums paid upto the date of payment
of top-up.
Annualized Premiums shall be payable in multiple of `1000 for all modes other than ECS monthly. For monthly (ECS), the premium shall be in multiples of `100/-.
1. Minimum Sum Assured: 10 times the annualized premium.
1. Maximum Sum Assured:
20 times of the annualized premium up to age 35 years
14 times of the annualized premium for age between 36 to 45years
10 times of the annualized premium for age between 46 to 50 years
The maximum Sum Assured shall be subject to maximum non-medical limit applicable for the life to be assured.

CHARGES UNDER THE PLAN:
A) Expense Charge: This is the percentage of the premium appropriated towards charges from the premium received. The balance part of the premium will be credited to the Policyholder’s Regular Premium Account or Policyholder’s Top-up Premium Account, as the case may be.
The expenses charges are as below:
Regular premium:
Expenses charge (including commission)
First Year 2nd & 3rd Years Thereafter
27.5% 7.5% 5%
Expense charge for top-up Premium: 2.5%
B) Other Charges:
1. Mortality Charge – This is the cost of life insurance cover which is age specific and will be taken every month from the Policyholder’s Regular Premium Account appropriately. This charge shall depend upon the Sum Assured.

The charges per `1000/- life insurance cover for some of the ages in respect of a healthy life are as under:
Age 20 30 40 50
Rs. 1.25 1.46 2.57 6.56

1. Service Tax Charge – A service tax charge, if any, shall be levied on Mortality charge deducted from the Policyholder’s Regular Premium Account on a monthly basis as and when the corresponding Mortality charges are deducted.
The level of this charge will be as per the rate of service tax as applicable from time to time. Currently, the rate of Service Tax is 10% with an educational cess at the rate of 3% thereon and hence effective rate is 10.30%.
1. Alteration Charge – This is a charge levied for an alteration within the contract, such as change in mode of payment to higher frequency and decrease in sum assured and shall be a flat amount of `50/- which will be deducted from the Policyholder’s Account and the deduction shall be made on the date of alteration in the policy.

1. OTHER FEATURES:
1. Top-up Premium: You can pay top-up premiums in multiple of `1000/-. The additional premiums paid shall be credited into the Policyholder’s Top-up Premium Account after deducting the expense charge. However, there would not be any increase in the sum assured under the policy. The total of top-up premium at any point of time shall not exceed the sum total of regular premiums paid upto that point of time. Such additional premiums can be paid only if all due premiums have been paid under the policy.

1. Decrease in benefits: This plan offers you the flexibility of reducing the sum assured during the term of the contract subject to the minimum limit. When the sum assured is reduced, such change will be effective from the policy anniversary coinciding with or next following the date of request.
1. GRACE PERIOD:
A grace period of one-month but not less than 30 days will be allowed for payment of premiums under all modes of premium payment.
1. REVIVAL:
If due premium is not paid within the days of grace, the policy becomes paid-up. A paid-up policy can be revived within 12 months period from the due date of first unpaid premium or before maturity, whichever is earlier. During this revival period, the life cover will cease and no mortality charge shall be deducted.
The revival shall be made on submission of proof of continued insurability to the satisfaction of the Corporation and the payment of all the arrears of premium without interest.
The Corporation reserves the right to accept the revival at its own terms or decline the revival of a paid-up policy. The revival of a paid-up policy shall take effect only after the same is approved by the Corporation and is specifically communicated in writing to the Policyholder.
In case the policy becomes paid-up without payment of at least 2 years’ premium and is not revived during the period of revival, the policy shall compulsorily be terminated on expiry of revival period. No charges shall be deducted and no interest will be credited from the date of compulsory termination. The balance in the Policyholder’s Account shall be refunded on completion third policy anniversary.
In case the policy become paid-up after payment of 2 full years’ premium and is not revived during the period of revival, the policy shall continue.
A policy once surrendered cannot be reinstated.

 Back to LIC of India

Under LIC Bima Account II plan, the premiums paid by you, after deduction of charges, will be credited to the Policyholder’s Account maintained separately for each policyholder. The risk cover will be provided by deduction of mortality charges from the Policyholder’s Account.

If all due premiums are paid, the amount held in your Policyholder’s Account will earn an annual interest rate of 6% p.a. which will be guaranteed for whole of the policy term. In addition to this guaranteed return, if all due premiums are paid, your account may earn an additional return depending upon the experience under this plan.

You will also have an option to pay additional (Top-up) premiums without any increase in risk cover.

Loan facility will also be available immediately after first policy anniversary.

1. PAYMENT OF PREMIUMS: You may pay premiums regularly at yearly, half-yearly, quarterly or monthly (through ECS mode only) intervals over the term of the policy.

Policyholder’s Account shall consist of 2 parts:
Policyholder’s Regular Premium Account – to which regular premiums, net of charges, shall be credited.
Policyholder’s Top-up Premium Account – to which Top-up premiums, net of charges, shall be credited.

2. ELIGIBILITY CONDITIONS  AND  OTHER  RESTRICTIONS:
(in years)
Minimum Entry Age               :     8 (completed)
Maximum Entry Age              :     60 (nearest birthday)
Policy Term                             :     10 to 15 
Minimum Maturity Age          :     18 (completed)
Maximum Maturity Age         :     70 (nearest birthday)
Minimum Premium:

Regular premium:
Mode  Instalment premium
Yearly               ` 15,000
Half-yearly      ` 8,000
Quarterly          ` 4,000
Monthly (ECS) ` 1250

Top-up premium: ` 1000

Maximum Premium:
Regular premium: No Limit
           
Top-up premium: Sum total of Regular Premiums paid upto the date of payment of top-up.

Annualized Premiums shall be payable in multiple of `1000 for all modes other than ECS monthly. For monthly (ECS), the premium shall be in multiples of `250/-.

Minimum Sum Assured: 10 times the annualized premium.

Maximum Sum Assured:
30 times of the annualized premium up to age 35 years
20 times of the annualized premium for age between 36 to 45years
10 times of the annualized premium for age between 46 to 60 years
           
3. CHARGES UNDER THE PLAN:

A) Expense Charge: This is the percentage of the premium appropriated towards charges from the premium received. The balance part of the premium will be credited to the Policyholder’s Regular Premium Account or Policyholder’s Top-up Premium Account, as the case may be.
The expenses charges are as below:

Regular premium:         

Top-up Premium:      2.5%

B) Other Charges:

Mortality Charge – This is the cost of life insurance cover which is age specific and will be taken every month from the Policyholder’s Regular Premium Account appropriately. This charge shall depend upon the Sum Assured.
 
The charges per `1000/- life insurance cover for some of the ages in respect of a healthy life are as under:

   
Service Tax Charge – A service tax charge, if any, shall be levied on Mortality charge deducted from the Policyholder’s Regular Premium Account on a monthly basis as and when the corresponding Mortality charges are deducted.

The level of this charge will be as per the rate of service tax as applicable from time to time. Currently, the rate of Service Tax is 10% with an educational cess at the rate of 3% thereon and hence effective rate is 10.30%.

Alteration Charge – This is a charge levied for an alteration within the contract, such as change in mode of payment to higher frequency and decrease in sum assured and shall be a flat amount of `50/- which will be deducted from the Policyholder’s Account and the deduction shall be made on the date of alteration in the policy.

4. OTHER  FEATURES:

Top-up Premium: You can pay top-up premiums in multiple of `1000/-. The additional premiums paid shall be credited into the Policyholder’s Top-up Premium Account after deducting the expense charge. However, there would not be any increase in the sum assured under the policy. The total of top-up premium at any point of time shall not exceed the sum total of regular premiums paid upto that point of time. Such additional premiums can be paid only if all due premiums have been paid under the policy.

Decrease in benefits: This plan offers you the flexibility of reducing the sum assured during the term of the contract subject to the minimum limit. When the sum assured is reduced, such change will be effective from the policy anniversary coinciding with or next following the date of request.

5. GRACE PERIOD:
A grace period of one-month but not less than 30 days will be allowed for payment of premiums under all modes of premium payment.

6. REVIVAL:
If due premium is not paid within the days of grace, the policy becomes paid-up. A paid-up policy can be revived within 12 months period from the due date of first unpaid premium or before maturity, whichever is earlier. During this revival period, the life cover will cease and no mortality charge shall be deducted.

The revival shall be made on submission of proof of continued insurability to the satisfaction of the Corporation and the payment of all the arrears of premium without interest.

The Corporation reserves the right to accept the revival at its own terms or decline the revival of a paid-up policy. The revival of a paid-up policy shall take effect only after the same is approved by the Corporation and is specifically communicated in writing to the Policyholder.

In case the policy becomes paid-up without payment of at least 2 years’ premium and is not revived during the period of revival, the policy shall compulsorily be terminated on expiry of revival period. No charges shall be deducted and no interest will be credited from the date of compulsory termination. The balance in the Policyholder’s Account shall be refunded on completion third policy anniversary.

In case the policy become paid-up after payment of 2 full years’ premium and is not revived during the period of revival, the policy shall continue.

A policy once surrendered cannot be reinstated.

Back to LIC of India

LIC’s Endowment Plus is a unit linked endowment plan. The features of the plan are mentioned below:

Premium Ceasing Age : 70 Premium Ceasing Term : 20

•  Double benefits of Insurance and Investment.
• Funds available under this plan are -Bond, Secured, Balanced and Growth fund.
• A policyholder can partially withdraw the units at any time after five policy years.
• Loan can be availed after completion of 3 policy years.
• Policy can be surrendered after completion of 5 years with no surrender charge.
• Premiums can be paid in yearly, half-yearly, quarterly and in monthly (ECS) installment OR in single

installment.

• Policyholder can switch between any fund types during the policy term. 4 switches will be

allowed free in a policy year.

• Policyholder has a option to enhance the risk cover by choosing the Double Accident benefit

rider and the Critical Illness Rider.

• On death of the policyholder, the nominee will be eligible to get higher of Sum assured (minus

partial withdrawal if any done during last two years) or the Fund value of units.

• In case of maturity the policyholder will get amount equal to the Fund value of the units.
• Enjoy tax benefit under section 80CCE.

LIC of India   LIC Pension Plus   LIC Endowment Plus   Health Protection Plus

LIC Pension Plus Features: You have a choice of investing your premiums in one of the two types of investment funds available. Premiums paid after deduction of allocation charge will purchase units of the Fund type chosen. The Unit Fund is subject to various charges and value of units may increase or decrease, depending on the Net Asset Value (NAV).

Premium Ceasing Age : 85       Premium Ceasing Term : 61

Plan Highlights

LIC’s Pension Plus is a unique ULIP plan where the minimum rate of interest is guaranteed. This plan is excellent investment towards essential long term financial planning.

Pension Plus is in compliance with the current IRDA norms. Pension Plus is truly an innovative plan that suits your needs just too perfectly.

The features of the LIC Pension Plus plan are mentioned below:

• A unique Unit Linked Pension Plan with guarantee on the minimum rate of interest.
• Rate of Interest applied to gross premium.
• Being Market Linked, the plan has possibility of getting excellent returns.
• Due to minimum interest guarantee, you are protected against fluctuation of interest due to policies of the government in the distant future.
• Choose any one of the 2 funds i.e. Debt (Low Risk) & Mixed (Medium Risk)
• Free switching between funds two times every year and at a very nominal fee thereafter.
• Top-ups facility – additional premium can be paid at anytime to invest in the funds with no upper limit.
• Benefit on Maturity :

1. Annuity purchased from Fund Value or Guaranteed Maturity Proceeds whichever is higher.
2. Option to commute 1/3rd. of the Maturity Proceeds.

• Compulsory purchase of Annuity ensures channelisation of funds for specific purpose.
• Benefit on death – Fund Value. Nominee has the option to receive the amount in lump Sum or as Annuity.
• Convenient modes of payment, Single Premium mode also available.
• No surrender charges will be imposed after 5 yrs.

 1. Payment of Premiums: You may pay premiums regularly at yearly, half-yearly or   quarterly or monthly (through ECS mode only) intervals over the term of the policy. Alternatively, a Single premium can be paid.  

A grace period of 30 days will be allowed for payment of yearly or half-yearly or quarterly premiums and 15 days for monthly (through ECS) premiums.

2.Eligibility Conditions And Other Restrictions:
a) MinimumEntryAge- 18 years (last birthday)
b)  Maximum Entry Age – 75 years (nearest birthday)
c)  Minimum Vesting Age  – 40 years (completed)
d)  Maximum Vesting Age -  85 years (nearest birthday)
e)  Minimum Deferment Term  -  10 years
f)   Sum Assured – NIL
g)  Minimum Premium -
Regular premium (other than monthly (ECS) mode) : Rs. [15,000] p.a.
Regular premium (for monthly (ECS) mode) : Rs. [1,500] p.m. 
Single premium:  Rs. [30,000] 
h)  Maximum Premium -
Regular premium : Rs. [1,00,000] p.a.
Single premium: No Limit  

Annualized Premiums shall be payable in multiple of Rs. 1,000 for other than ECS monthly. For monthly (ECS), the premium shall be in multiples of Rs. 250/-.

1.Investment of Funds: The plan offers following two funds detailed below:

The Policyholder has the option to choose any ONE out of the above 2 funds.

Contact us for Investment or Purchase a New Latest LIC New Pension Plus Product of 2010.

To view Illustrations, Examples, Presentations, Calculations Various Options of LIC Pension Plus submit your querry by Click here.

LIC of India   LIC Pension Plus   LIC Endowment Plus   Health Protection Plus