It is the ideal combination of Endowment and Whole Life Plan. It provides maturity at the end of premium paying term and after maturity, offers you whole life free risk cover without paying any premium thereafter. Policy can be availed with duration of 15 years to 35 years and can be taken any person between the age group of 18 years to 50 years.
It gives a lump sum amount at the end of term, to take care of important milestones in your life like retirement needs, children’s education, and children’s marriage.
In case of unfortunate demise during premium paying term, Sum Assured with Bonuses will be payable. Also after maturity, Sum Assured will be payable on death.
Every year, LIC declares valuation results.
As per valuation result declared by LIC, profit is being shared among all policyholders as bonus.
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 | 18 Years Completed | 50 Years Nearest birthday |
| Term | 15 Years | 35 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 & Disability Benefit Rider
LIC’s Accident Benefit Rider
LIC’s New Term Assurance 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% of 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.
On death after expiry of the Policy Term i.e. from the stipulated Date of Maturity: Basic Sum Assured shall be payable.
Maturity Benefit
Sum Assured on Maturity alongwith vested Simple Reversionary bonuses and Final Additional bonus, if any.
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.
LAKHMANI INSURANCE SERVICES 28, Queens Mansion,Gate No.3, 4th Floor, 12, Park Street,
Kolkata - 700 016,
West Bengal, India.
