LIC Jeevan Tarun Plan no 834

• This is Fantastic plan For the Children, This Can be taken as a Money Back if want.
• Pay premium only upto 20 years of the child
• Maturity at the age of 25
• Jeevan Tarun is a limited premium plan designed for childrens education, marriage and other needs in the future.

Lic’s new plan for Children – Jeevan Tarun plan no. 834 is a Non-linked, with-profits, optional money back plan which will introduced soon by LIC (Life Insurance Corporation of India).

Lic Jeevan Tarun policy offers four options.

• Depending on the requirement, the proposer can choose any of the 4 options for SB (Survival Benefit) payments from 20 to 24 years of age.
• Proposer need to choose the option at the proposal stage only.
• Under Jeevan Tarun plan Maturity Benefit is payable at the age of 25 years only.
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Four options are given below,

Option	Survival Benefit	Maturity Benefit
Option 1	No Survival Benefit	100% of Sum Assured
Option 2	5% of Sum Assured every year for 5 years	75% of Sum Assured
Option 3	10% of Sum Assured every year for 5 years	50% of Sum Assured
Option 4	15% of Sum Assured every year for 5 years	25% of Sum Assured

LIC’s Jeevan Tarun Plan Features

Entry Age	Minimum: 90 daysMaximum: 12 years
Minimum/Maximum Maturity Age	25 years
Policy term	25 years – Age at entry (years)
Premium Paying Term	20 years – Age at entry (years)
Sum Assured (SA)	Minimum: Rs. 75,000/-Maximum: No limit (SA shall be in multiples of 5,000/- from SA 75,000/- to 1,00,000/- 10,000/- for SA above 1,00,000/-)

Jeevan Tarun Plan Benefits

Death Benefit:

• On Death before the Date of commencement of risk: Death benefit = Total no. of premiums paid – taxes, extra premium and rider premium (if any)
• On Death after the Date of commencement of risk: Death benefit = ‘Sum Assured on death’ + vested Simple Reversionary Bonuses + Final Additional Bonus, if any.
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Survival Benefit:

On survival of the life assured on each of the respective policy anniversaries, a fixed percentage of sum assured shall be payable as survival benefit. It shall be payable every year starting from policy anniversary coinciding with / following the completion of 20 years of age and thereafter on each of next 4 policy anniversaries. These percentages depend on the option choosen by the proposer at the proposal stage. The percentages for various options are given below,

Policy Anniversary coinciding with / following the completion of ages	Percentage of Sum Assured to be paid as SB (Survival Benefit)
	Option 1	Option 2	Option 3	Option 4
20 to 24 years	Nil	5% each year	10% each year	15% each year

Maturity Benefit:

• On Survival Maturity Benefit = Sum Assured on maturity + vested Simple Reversionary Bonuses + Final Additional Bonus, if any

Sum Assured on Maturity for various options are given below,

Options	Maturity Benefit
Option 1	100% of Sum Assured
Option 2	75% of Sum Assured
Option 3	50% of Sum Assured
Option 4	25% of Sum Assured

Riders available in Lic Jeevan Tarun 834 Policy

Premium Waiver Benefit Rider:

Premium Waiver Benefit is available under Lic Jeevan Tarun Policy on payment of additional premium. This is an optional rider that can be opted along with basic plan. In case of death of the life assured, futher premiums after the date of death shall be waived. The conditions for Lic Premium Waiver Benefit Rider are given below,

Entry Age:	Minimum: 18 yearsMaximum: 55 years
Term of the Rider:	20 – Age of the child at the time of opting the rider
Maximum Cover ceasing age:	70 years

LIC Jeevan Lakshya Plan No 833

Jeevan Lakshya is a limited premium paying plan which provides Annual Income Benefit to fulfill the family requirements. In case of death of the policy holder takes place prior to the maturity, 10% of the basic sum assured will be paid on every policy anniversary, further it also provides a lump sum amount at the time of maturity regardless of survival of the policyholder.

Jeevan Lakshya Eligibility

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Death Benefits:

1. In case of unfortunate event of death of policy holder happens during the policy term, 10% of the basic sum assured amount will be given to the nominee on every policy anniversary from the year of death till the date of maturity.

2. At the time of maturity i.e. at the end of policy term, nominee will be paid

Basic Sum Assured on death (110% of sum assured) + Vested simple Revisionary Bonuses + Final Additional Bonus (If Any)

Maturity Benefits:

If policy holder survives till the end of the policy term having paid all due premiums, the benefits from the policy would be:

Basic Sum Assured + Vested Simple Revisionary bonuses + Final Additional bonus (if any)

LOAN & SURRENDER OPTIONS AVAILABLE

TERM, ACCIDENT AND DISABILITY BENEFIT RIDER AVAILABLE

LIC's New Jeevan Sangam Plan No. 831

Jeevan Sangam is a close ended plan which will be open for 90 days

Jeevan Sangam Plan is a non linked, with profit, Single Premium plan which provides high level of death cover during the policy term.

Benefits of Jeevan Sangam Plan (Table No 831):

• Death Benefit:
  • On Death during first five years of policy –
    • Before the date of commencement of Risk – Refund of single premium excluding service tax and extra premium, if any without interest
    • After the date of commencement of Risk –  Basic sum assured, i.e. 10 times of tabular single premium shall payable.
  • On Death after completion of five years of policy but before the maturity date – Basic sum assured, i.e. 10 times of tabular single premium with loyalty addition shall payable if any.
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• Maturity Benefit : Maturity sum assured with loyalty addition.
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• Loyalty Addition : This plan is eligible for share of surplus (Profits) in the form of loyalty addition.

Eligibility Conditions and Restriction : 

• Minimum age at entry > 6 years completed
• Maximum age at entry > 50 years (age near birthday)
• Policy Term > 12 yrs
  Minimum Sum Assured > 75,000 ( Will be multiple of 10,000)
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  Maximum Sum Assured > No limit
• Mode of Premium Payment >  Single

Surrender Value : 

• First Year –  70% of single premium paid excluding service tax and extra premium paid
• Thereafter – 90% of single premium paid excluding service tax and extra premium paid

LIC's New Children Moneyback Plan

LIC’s New Children Money Back Plan ( Table No. 832 )

Basic Features of New Children Money Back Plan

• Age : 0 to 12
• Proposer’s age : Minimum – 18 years , Maximum – 55 years
• Min Sum Assured : 1 Lac
• Max Sum Assured : No limit
• Mode : Monthly/Quarterly/Half Yearly/Yearly
• Policy Term : 25 minus age
• Premium Term : 18 minus age
• PWB available.
• Maturity for below Child Age
• At 18 = 20% of SA
• At 20 = 20% of SA
• At 22 = 20% of SA
• At 25 = 40% of SA + Bonus+ Final Additional Bonus

LIC's New Varistha Pension Bima Yojna (Table No. 828)

VARISHTHA PENSION BIMA YOJANA 

UID: 512G291V01

Guaranteed Lifetime Pension Effective returns 9.38% p.a 

Available From 15/08/2014 to 14/08/2015 

This is an immediate Annuity plan, which provides for immediate pension in consideration of lump sum amount. This is a Government subsidized scheme and will provide an effective yield of 9.38% p.a. The pension payable is guaranteed for the life time with return of purchase price.

Pension Rates and Modes of Pension: 

Pension rates for different modes of pension are as below (for all ages).

FEATURES	MODE OF PENSION
	Monthly	Quarterly	Half Yearly	Yearly
Minimum Pension	500	1500	3,000	6,000
Minimum Purchase Price	66665	66170	65430	63960
Maximum Pension	5000	15000	30000	60000
Maximum Purchase Price	666665	661690	654275	639610
Yield	9.00%	9.07%	9.17%	9.38%

BENEFITS:

• Pension will be paid during the life time of the pensioner. 
• Pension will be credited directly to the Bank Account of Pensioner. 
• In event of death of the pensioner, purchase price will be paid to the nominee ELIGIBILITY 

CONDITIONS:

• Age at Entry: Minimum 60 years lbd and above. 
• Maximum ceiling will apply to all family members combined.
• Family will comprise Pensioner, his/her Spouse and dependents. 
• All Age Proofs will be accepted. 
• Premiums should be paid by cheque/draft drawn on local clearing house member bank. Cash will not be accepted. 

OTHER FEATURES:

Service Tax: Service tax is payable @3.09% of Purchase Price.

Policy Loan: Allowed after 3 years up to 75% of purchase price. Loan interest will be recovered from the Pension and Loan amount will be recovered from claim payable.

Surrender Value: Allowed after 15 years. Full purchase price will be paid. However, in case of money required for treatment of critical illness of self/spouse, surrender of policy may be allowed even earlier. Surrender value payable will be 98% of Purchase Price.

LIC's New Jeevan Rakshak Plan (Table No. 827)

LIC's New Jeevan Rakshak Plan (Table No. 827)
With effect from 19th August 2014. 

This is a regular premium paying Non-linked, with-profit, endowment assurance plan. This plan shall be available to standard lives only under non-medical limit and the total Sum Assured under all the policies issued to an individual under this plan shall not exceed Rs. 2 lacs. The benefits and other details of the plan are as follows:

Eligibility Conditions and Restrictions

• Age at entry : 8 to 55 Years.
• Age at Maturity : 70 Years.
• Plan Term : 10 to 20 Years.
• Premium Mode : Yearly, Half Yearly, Quaterly, Monthly(SSS or ECS).
• Basic Sum Assured minimum Per Life : 75000 and above (In multiples of 5000).
• Basic Sum Assured mmaximum Per Life : 2,00,000.

Mode	Rebate
Yearly	2% of tabular premium
Half-Yearly	1% of tabular premium
Quaterly	Nil

Basic Sum Assured	Rebate
1,50,00 to 2,00,000	1.50‰ BSA
75,000 to 1,45,000	NIL

LIC's Jeevan Rakshak Plan - Loan

  Loan facility is available under this plan, after payment of premiums for at least 3 full years subject to following condition :
♦ a) The maximum loan as a percentage of surrender value shall be 70% in case of inforce policies and 60% in case of paid-up policies.
♦ b) The rate of interest to be chaged for the loan amount would be determined from time to time by the Corporation.
♦ c) No foreclosure action Under Inforce policies shall be taken under this plan even if there is a default in payment of loan interest. However, any loan outstanding alongwith interest shall be recovered from the claim proceeds at the time of exit.

LIC's Jeevan Rakshak maturity benefits

♦ On survival to the end of the policy term Basic Sum Assured along with Loyalty Addition, if any, shall be payable.

LIC's Jeevan Rakshak deth benefits

♦ On death of the Life Assured during the policy term "Sum Assured on Death" shall be payable, which is the highest of .
♦ Basic Sum Assured or.
♦ 10 times of annualized premium or.
♦ 105% of all the premiums paid as on date of death.
The premium mentioned above excludes taxes, extra premium and rider premiums, if any.
In addition to the above Loyalety Addition, if any, shall be payable if death occurs after completion of 5th policy year.

LIC's New Jeevan Rakshak Plan - Surrender Value

  The policy can be surrendered at any time during the policy term provided atleast three full years´ premium have been paid. 

Guaranteed Surrender Value (GSV).
♦ The Guaranteed Surrender Value shall be a percentage of total premiums paid (net of taxes) excluding any extra premiums and premiums for riders, if opted for. This percentage will depend on the policy term and policy year in which the policy is surrendered and is enclosed as Annexure 3.

Special Surrender Value (SSV).
♦ The Corporation may, however, pay Special Surrender Value as applicable as on the date of surrender, provided the same is higher than Guaranteed Surrender Value. The Special Surrender Value will be the discounted value of Paid-up Sum Assured (as defined in Para 11 above). The discount factors shall be the surrender value factors as provided in Table-1A of Special Surrender Values booklet used Endowment Assurance plan and will depend on the policy term and duration elapsed since the commencement of the policy.

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Profit & Loss of All Life Insurers for the year 2012-13

LIC's New Amulya Jeevan - II - Plan No. 823

LIC’s Amulya Jeevan - II Plan - Table no. 823

UIN – 512N286V01

This is a Regular Premium paying conventional without profit pure protection plan.
Service tax applicable @ 12.36%

Eligibility conditions and restrictions:

1)  Minimum Age at entry for Life Assured  : 18 years (completed)

2) Maximum Age at entry for Life Assured  : 60 years (Nearest Birthday)

3) Minimum Policy Term                              : 5 years

4) Maximum Policy Term                               : 35 years (Nearest Birthday)

5) Maximum Cover ceasing Age                   : 70 years (Nearest Birthday)

6) Premium payment mode                          : Yearly & Half-yearly

8) Minimum Sum Assured                             : Rs 25,00,000/-

10) Maximum Sum Assured                            : No Limit

The Sum Assured shall be in multiples of Rs 1,00,000/-

Benefits payable only on Death

On death of Life Assured during the policy term, Sum Assured shall be payable. Whereas, no benefits shall be payable on survival to the end of the policy term.

NO PAID UP VALUE | NO SURRENDER | NO LOAN FACILITY

Revival

Revival of the lapsed policy can be done within the period of 2 consecutive years from the date of first unpaid premium and before the date of maturity, with or without any conditions laid down by LIC

Suicide Clause

This policy shall be void if Life Assured commits suicide within 12 months from the date of commencement of risk or date of revival, an amount equal to 80% of the premiums paid till the date of death (excluding taxes & extra premium), provided policy is in force, shall be payable. The corporation will not entertain any other claim under this policy.

Assignments & Nominations: As per old plan.

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