• This plan requires a single premium payment, and the Policyholder can choose between Single Life and Joint Life Deferred Annuity options.
  • The annuity rates are fixed at the start of the policy, and annuity payments are made after the deferment period, lasting throughout the lifetime of the Annuitant(s).
  • This plan is available for purchase both offline and online. For online purchases, please visit our website at www.licindia.in.

Benefits

Death Benefit

The Death Benefit under both Options will be determined as follows:
Higher of
• Purchase Price plus Accrued Additional Benefit on Death (as specified below) minus any total annuity amount already paid until the date of death, if applicable
OR
• 105% of the Purchase Price

Accrued Additional Benefit on Death

If the Life Assured survives to the end of the policy term, with all due premiums paid (i.e., the policy is in force), they will receive the ‘Sum Assured on Maturity’ along with any Loyalty Addition, if applicable. The ‘Sum Assured on Maturity’ is equal to the Basic Sum Assured.

Loyalty Addition

If the policy has been in force for at least five years and five full premiums have been paid, it may be eligible for Loyalty Addition at exit, either through death during the policy term or at maturity. The rate and terms will be determined by the Corporation. In paid-up policies, Loyalty Addition is applicable for completed policy years in force.

Loyalty Addition, if applicable, is also considered in the Special Surrender Value calculation if the policy is surrendered during the policy term, provided it has been in force for a minimum of five years and has had five full premiums paid.

Eligibility Conditions

a) Minimum Basic Sum Assured per life* Rs 2,00,000
b) Maximum Basic Sum Assured per life* Rs 5,00,000
The Basic Sum Assured shall be in multiples of Rs 5,000/- from Basic Sum Assured Rs 2,00,000 to Rs 3,00,000/- and Rs 25,000/- for Basic Sum Assured above Rs 3,00,000/-
c) Minimum Age at entry 8 years (completed)
d) Maximum Age at entry 55 years (nearest birthday)
e) Policy Term 10 to 20 years
f) Premium Paying Term Same as Policy Term
g) Minimum Age at Maturity 18 years (completed)
h) Maximum Age at Maturity h) Maximum Age at Maturity

Payment Options Available

Mode of Instalment payment Minimum instalment amount
Monthly Rs 5,000/-
Quarterly Rs 15,000/-
Half-Yearly Rs 25,000/-
Yearly Rs 50,000/-

Exclusion:

Suicide: If the Life Assured, whether sane or insane, commits suicide within 12 months from the date of risk commencement, the nominee or beneficiary is entitled to 80% of the total premiums paid, provided the policy is in force.

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