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ENDOWMENT PLANS
LIC'S JEEVAN LABH
LIC's Jeevan Labh is a Non-Linked, Participating, Individual, Life Assurance saving plan which offers an attractive combination of protection and savings features. This combination provides financial support for the family of the deceased policyholder in case of unfortunate death of the policyholder any time before maturity and a lumpsum amount at the time of maturity for the policyholder. This plan also takes care of liquidity needs through its loan facility.
liC'S BIMA JYOTI
LIC’s Bima Jyoti is a Non-Linked, Non-Participating, Individual, Life Assurance Savings Plan which offers an attractive combination of protection and savings. This plan provides financial support for the family in case of unfortunate death of the policyholders during the policy term and guaranteed lumpsum payment to the surviving policyholder at the time of maturity.This plan also takes care of liquidity needs through loan facility.
LIC'S DHAN SANCHAY
LIC’s Dhan Sanchay is a Non-Linked, Non-Participating, Individual, Savings, Life Insurance Plan which offers a combination of protection and savings. This plan provides financial support to the family in case of unfortunate death of the life assured during the policy term. It also provides guaranteed income stream during the Payout Period from the date of maturity.
LIC'S JEEVAN AZAD
LIC’s Jeevan Azad is a Non-Linked, Non-Participating, Individual, Savings, Life Insurance plan which offers a combination of protection and savings. This is a Limited Premium Payment Endowment plan which provides financial support for the family in case of unfortunate death of the life assured during the policy term and also takes care of liquidity needs through loan facility. It also provides guaranteed lumpsum amount to the surviving life assured on the date of maturity.
LIC'S NEW ENDOWMENT PLAN
LIC’s New Endowment Plan is a Non-linked, Participating, Individual, Life Assurance plan which offers an attractive combination of protection and saving features. This combination provides financial support for the family of the deceased policyholder any time before maturity and good lump sum amount at the time of maturity for the surviving policyholders. This plan also takes care of liquidity needs through its loan facility.
liC'S NEW JEEVAN ANAND
LIC’s New Jeevan Anand Plan is a Non-linked, Participating, Individual, Life Assurance 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.
LIC'S SINGLE PREMIUM ENDOWNMENT PLAN
LIC’s Single Premium Endowment Plan is a Non linked, Participating, Individual, Life Assurance, savings plan which offers an attractive combination of savings and protection features. The premium is paid in lump sum at the outset of the policy. This combination provides financial protection against death during the policy term 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.
LIC'S JEEVAN LAKSHYA
LIC’s Jeevan Lakshya is a Non-linked, Participating, Individual, Life Assurance 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.
liC'S AADHAAR STAMBH
LIC’s Aadhaar Stambh is a Non-Linked, Participating, Individual, Savings Life Insurance plan designed exclusively for male lives, which offers a combination of protection and savings. This plan provides financial support for the family in case of unfortunate death of the policyholder any time before maturity and a lump sum amount at the time of maturity for the surviving policyholder. In addition, this plan also takes care of liquidity needs through its Auto Cover as well as loan facility.
liC'S AADHAAR SHILA
LIC’s Aadhaar Shila is a Non-Linked, Participating, Individual, Savings Life Insurance designed exclusively for female lives, which offers a combination of protection and savings. This plan provides financial support for the family in case of unfortunate death of the policyholder any time before maturity and a lump sum amount at the time of maturity for the surviving policyholder. In addition, this plan also takes care of liquidity needs through its Auto Cover as well as loan facility.
LIC'S AMRIT BAAL
LIC’s Amritbaal is a Non-Linked, Non-Participating, Individual, Savings, Life Insurance plan. The plan is specifically designed to have an adequate corpus to meet the higher education and other needs of your child. It facilitates accumulation of corpus through Guaranteed Addition. This is a non-participating product under which benefits payable on death or survival are guaranteed and fixed irrespective of actual experience. Hence the policy is not entitled to any discretionary benefits like bonus etc. or share in Surplus.
WHOLE LIFE PLANS
liC'S JEEVAN UMANG
LIC's Jeevan Umang is a non-linked, participating, individual, whole life assurance plan which offers a combination of income and protection to your family. This plan provides for annual survival benefits from the end of the premium paying term till maturity and a lumpsum payment at the time of maturity or on death of the policy holder during the policy term. In addition, this plan also takes care of liquidity needs through loan facility.
liC'S JEEVAN UTSAV
LIC’s Jeevan Utsav is a Non-Linked, Non-Participating, Individual, Savings, Whole Life Insurance plan. This plan provides financial support to family in case of unfortunate death of Life Assured and survival benefits in the form of Regular Income Benefit or Flexi Income Benefit as per the option chosen for surviving policyholder. LIC’s Jeevan Utsav is a non- participating product under which benefits payable on death or survival are guaranteed and fixed irrespective of actual experience. Hence the policy is not entitled to discretionary benefits like bonus etc. or share in Surplus.
MONEY BACK
LIC'S NEW BIMA BACHAT
LIC’s New Bima Bachat is a participating, non-linked, life assurance savings cum protection plan, where premium is paid in lump sum at the outset of the policy. It is a money-back plan which provides financial protection against death during the policy term with the provision of payment of survival benefits at specified durations during the policy term. In addition, on maturity, the single premium shall be returned along with Loyalty Addition, if any. This plan also takes care of liquidity needs through its loan facility.
LIC'S NEW MONEY BACK PLAN-20 YEARS
LIC's New Money Back Plan-20 years is A Non-Linked, Participating, Limited Premium, Individual, Life Assurance plan which offers an attractive combination of protection against death throughout the term of the plan along with the periodic payment on survival at specified durations during the term. This unique combination provides financial support for the family of the deceased policyholder any time before maturity and lump sum amount at the time of maturity for the surviving policyholders. This plan also takes care of liquidity needs through its loan facility.
liC'S NEW MONEY BACK PLAN-25 YEARS
LIC's New Money Back Plan-25 years is a Non-Linked Participating, Limited Premium, Individual, Life Assurance plan which offers an attractive combination of protection against death throughout the term of the plan along with the periodic payment on survival at specified durations during the term. This unique combination provides financial support for the family of the deceased policyholder any time before maturity and lump sum amount at the time of maturity for the surviving policyholders. This plan also takes care of liquidity needs through its loan facility.
LIC'S NEW CHILDREN'S MONEY BACK PLAN
LIC’s New Children’s Money Back Plan is a Non-linked ,Participating, Individual, Life Assurance money back plan. This plan is specially designed to meet the educational, marriage and other needs of growing children through Survival Benefits. In addition, it provides for the risk cover on the life of child during the policy term and for number of survival benefits on surviving to the end of the specified durations. The plan can be purchased by any of the parent or grand parent for a child aged 0 to 12 years.
LIC'S JEEVAN TARUN
LIC’s JEEVAN TARUN is a Non-linked, Participating, Individual, Life Assurance savings plan for children which offers an attractive combination of protection and saving features. This plan is specially designed to meet the educational and other needs of growing children through annual Survival Benefit payments from ages 20 to 24 years and Maturity Benefit at the age of 25 years. It is a flexible plan wherein at proposal stage the proposer can choose the proportion of Survival Benefits to be availed during the term of the policy
LIC'S JEEVAN SHIROMANI
LIC's Jeevan Shiromani plan offers a combination of protection and savings. This plan is specially designed for High Net-worth Individuals. This plan provides financial support for the family in case of unfortunate death of the policyholders during the policy term. Periodic payments shall also be made on survival of the policyholder at specified durations during the policy term and a lumpsum payment to the surviving policyholder at the time of maturity. In addition, this plan also provides for payment of a lumpsum amount equal to10% of the chosen Basic Sum Assured on diagnosis of any of the specified Critical Illnesses. This plan also takes care of liquidity needs through loan facility.
liC'S BIMA SHREE
LIC's Bima Shree plan offers a combination of protection and savings. This plan is specially designed for High Net-worth Individuals. This plan provides financial support for the family in case of unfortunate death of the policyholders during the policy term. Periodic payments shall also be made on survival of the policyholder at specified durations during the policy term and a lump sum payment to the surviving policyholder at the time of maturity. This plan also takes care of liquidity needs through loan facility.
LIC'S DHAN REKHA
LIC’s Dhan Rekha is a Non-Linked, Non-Participating, Individual, Savings, Life Insurance Plan which offers an attractive combination of protection and savings. This plan provides financial support for the family in case of unfortunate death of the policyholder during the policy term. Periodic payments will also be made on survival of the policyholder at specified durations during the policy term and guaranteed lumpsum payments to the surviving policyholder at the time of maturity. This plan also takes care of liquidity needs through loan facility.
HEALTH PLANS
CANCER COVER
LIC’s Cancer Cover is a Non-linked, Non-participating, Regular Premium, Health Insurance plan which provides financial protection in case the Life Assured is diagnosed with any of the specified Early and/or Major Stage Cancer during the policy term.
TERM ASSURANCE
LIC'S SARAL JEEVAN BIMA
LIC’s Saral Jeevan Bima Plan is a Non-Linked, Non-Participating, Individual, Pure Risk Life Insurance plan which provides financial protection to the insured’s family in case of his/her unfortunate death during the policy term.
liC'S JEEVAN KIRAN
LIC’s Jeevan Kiran is a Non-Linked, Non-Participating, Individual, Savings, Life Insurance plan which offers a combination of protection and savings. This plan provides financial support to the family in case of unfortunate death of the life assured during the policy term and returns the total premiums paid* in case of survival till maturity. This is a non-participating product under which benefits payable on death or maturity are guaranteed and fixed irrespective of actual experience. Hence the policy is not entitled to any discretionary benefits like bonus etc. or share in Surplus.
LIC'S NEW JEEVAN AMAR
LIC’s New Jeevan Amar is a Non-Linked, Non-participating, Individual, Pure Risk Premium Life Insurance Plan, which provides financial protection to the insured’s family in case of his/her unfortunate death during the policy term.
LIC'S YUVA CREDIT LIFE
LIC’s Yuva Credit Life plan is a Non-Par, Non-Linked, Life, Individual, Pure Risk plan. This plan provides a safety net against any loan repayment to the insured’s family in case of his/her unfortunate death during policy term. This is a Non-par product where policies are not entitled for any share in surplus (profits) during the term of the policy. This Plan can be purchased Offline through Licensed agents, Corporate agents, Brokers and Insurance Marketing Firms. LIC’s Yuva Credit Life is a pure decreasing Term Assurance plan wherein the death benefit will reduce over the term of the policy. The Policyholder shall choose the Basic Sum Assured, Policy Term and Interest rate depending on the terms and conditions of loan. A Risk Cover Schedule shall be prepared based on the Basic Sum Assured, Policy Term, and Interest rate chosen by the Policyholder. The available interest rates for Risk Cover Schedule are 6%, 7%, 8%, 9%,10%,11% and 12%, irrespective of the Interest rate charged by the Loan provider on the loan availed by the Policyholder. The Risk Cover Schedule shall show the Sum Assured on Death (i.e. Death Benefit) for each Policy Year and shall be based on the chosen interest rate p.a. effective on an equated yearly repayment basis, irrespective of the actual loan repayment. At the inception, the Sum Assured on Death shall be equal to the Basic Sum Assured and subsequently at each Policy Year, Sum Assured on Death shall be as mentioned in the Risk Cover Schedule. Therefore, death benefit as specified in the Risk Cover Schedule may be higher or lower than the actual outstanding Loan..
LIC'S YUVA TERM
LIC’s Yuva Term is a Non-Par, Non-Linked, Life, Individual, Pure Risk Plan, which provides financial protection to the insured’s family in case of his/her unfortunate death during the policy term. This is a non-par product under which benefits payable on death are guaranteed and fixed irrespective of actual experience. Hence the policy is not entitled to any discretionary benefits like bonus etc. or share in Surplus.
PENSION
liC'S JEEVAN AKSHAY
This is an Immediate Annuity plan wherein the Policyholder has an option to choose type of annuity from 10 available options on payment of a lump sum amount.
The annuity rates are guaranteed at the inception of the policy and annuities are payable throughout the life time of Annuitant(s).
LIC'S NEW JEEVAN SHANTI
This is a single premium plan wherein the Policyholder has an option to choose between Single life and Joint life Deferred annuity.
The annuity rates are guaranteed at the inception of the policy and annuities are payable post deferment period throughout the life time of Annuitant(s).
LIC'S SARAL PENSION
This is a Standard Immediate Annuity plan as per the guidelines of Insurance Regulatory and Development Authority of India (IRDAI), which offers same terms and conditions across all the life insurers.
The Policyholder has an option to choose type of annuity from two available options on payment of a lump sum amount.
The annuity rates are guaranteed at the inception of the policy and annuities are payable throughout the life time of Annuitant(s).
LIC'S JEEVAN DHARA ii
LIC’s Jeevan Dhara - II is a Non-Linked, Non-Participating, Individual, Savings, Deferred Annuity plan. The annuity rates are guaranteed at the inception of the policy and annuities are payable post Deferment Period in arrears throughout the life time of Annuitant(s). This is a non-participating product under which benefits payable on death or survival are guaranteed and fixed (as per the chosen Annuity Option) irrespective of actual experience. Hence the policy is not entitled to any discretionary benefits like bonus etc. or share in Surplus.
ULIP
liC'S NIVESH PLUS
LIC’s Nivesh Plus is a Unit Linked, Non-Participating, Single Premium Individual Life Insurance plan. On payment of single premium, the plan offer, insurance cum investment cover throughout the term of the policy.
Under this plan you have the flexibility to choose the type of Sum Insured at the inception and also have a choice of investing the premium in one of the four types of investment funds available. Single Premium paid after deduction of Premium 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 Net Asset Value (NAV).
LIC'S SIIP
LIC’s SIIP is a Unit Linked, Non Participating, Regular Premium, Individual Life Insurance plan which offers insurance cum investment cover throughout the term of the policy.
You have a choice of investing premiums in one of the four types of investment funds available. Each premium paid after deduction of Premium 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 Net Asset Value(NAV).
LIC'S NEW PENSION PLUS
LIC’s New Pension Plus is a Unit Linked, Non-Participating, Individual Pension plan which helps to build corpus by systematic and disciplined savings which can be converted into regular income. The plan can be purchased either as Single Premium or Regular Premium payment frequency.
You shall have option to choose the amount of premium payable, policy term subject to minimum and maximum limits of Premium, Policy Term and Vesting Age as specified in Para 5 below. Under a Regular Premium policy, the Premium shall be payable over the term of the policy. On Vesting (i.e. at the end of the Policy Term), Options as specified in Para 2.B). ii below shall be available to you to utilize the proceeds of the Policy. An Option shall also be available to you to extend the accumulation period or deferment period within the same policy with the same terms and conditions as the original policy subject to the conditions specified in Para 4.b) below. You have a choice of investing premiums in one of the four types of investment funds available. Each Premium paid, after deduction of Premium Allocation Charge, shall be utilized to purchase units of the Fund chosen. The Unit Fund Value shall be subject to deduction of various other charges either as cancellation of number of units or by adjusting the Net Asset Value (NAV). The value of units may increase or decrease, depending on NAV.
LIC'S NEW ENDOWMENT PLUS
LIC's New Endowment Plus is a Unit Linked, Non-Participating, Regular Premium, Individual Life Insurance plan which offers investment cum insurance cover during the term of the policy. This plan is specially designed for you to provide a very good combination of protection and long term savings and also provides you greater flexibility to build a better life and realise your dreams. You have a choice of investing premiums in one of the four types of investment funds available. Premiums paid after deduction of Premium 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 Net Asset Value(NAV).
liC'S INDEX PLUS
LIC’s Index Plus is a Unit Linked, Non-Participating, Regular Premium, Individual Life Insurance plan which offers life insurance cover cum savings throughout the term of the policy. LIC’s Index Plus is a non-participating product and hence the policy is not entitled for any share in surplus (profits) during the term of the policy.
Micro Insurance
Lic's Micro Bachat
LIC’s Micro Bachat is a regular premium, Par, Non-linked, Individual, Savings, Life Micro Insurance plan which offers a combination of protection and savings.This plan provides financial support for the family in case of unfortunate death of the policyholder during the policy term and a lump sum amount at the time of maturity for the surviving policyholder. This plan also takes care of liquidity needs through its Loan facility. This is an Endowment plan with Loyalty Additions which shall accrue after completion of five policy years. This is a par product under which policies are entitled to share in profits depending upon actual experience of the Corporation.