It is a money back plan for the tenure of 20 Years with a premium payment of 15 Years. Survival Benefit will be payable every after 5 years @ 20 % of Basic Sum Assured. On Maturity, balance 40 % of Sum Assured and vested reversionary bonuses with Final Additional Bonus will be payable in lump sum. The policy can be taken by any person between the ages of 13 years to 50 years.
Part of Sum Assured is payable after every 5 years in the form of Survival Benefit. Ideal to fulfil periodic goals. Also, enjoy maturity benefits at the end of the Term.
In case of Unfortunate demise during policy term, an amount equal to Sum Assured plus bonus will be payable without deduction of Survival Benefits paid earlier.
Every year, LIC declares valuation results.
As per valuation result declared by LIC, profit is being shared among all policyholders as bonus.
Periodic Survival Benefits in the form of Money back. Ideal for those who has short term goals like dream vacation, taking new house, children education.
By paying small extra premium amount, you can secure your life for high insurance protection on natural or accidental death by opting DAB and Term Rider.
Eligibility Criteria
| Minimum | Maximum |
Entry Age | 13 Years Completed | 50 Years (Nearer Birthday) |
Term | 20 Years | |
PPT | 15 Years | |
Sum Assured | ₹ 2,00,000/- | No Limit |
Premium Modes
Yearly, Half-Yearly, Quarterly and Monthly (NACH only) or through salary deductions (SSS).
Riders Available
LIC’s Accidental Death and Disability Rider
LIC’s Accident Benefit Rider
LIC’s New Term Insurance Rider
Death Benefit
On death of the Life Assured during the Policy Term, Sum Assured on Death alongwith vested Simple Reversionary bonuses and Final Additional bonus (if any), where “Sum Assured on Death” is defined as higher of 125% Basic Sum Assured or 7 times of annualised premium.
This Death Benefit (as defined above) shall not be less than 105% of total premiums paid upto the date of death. Where,
1. “Annualized Premium” shall be the premium amount payable in a year, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums.
2. “Total Premiums Paid” means total of all the premiums paid under the base product, excluding any extra premium, and taxes, if collected explicitly. In case LIC’s Premium Waiver Benefit Rider is opted for, in the event of death of Proposer, any subsequent Premiums which are waived shall be deemed to have been received and be included in the Total Premiums Paid.
Survival Benefit
On Survival 20% of Basic Sum Assured shall be payable at the end of 5th, 10th and 15th years
Maturity Benefit
40% of Basic Sum Assured on Maturity alongwith vested Simple Reversionary Bonus and Final Additional Bonus.
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 atleast 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 equal to higher of Guaranteed Surrender Value and Special Surrender Value.
