Death Benefit:

The following are payable:-
On death during first 6 months: 30% of Sum Assured plus cash value of units.

On death during next 6 months: 60% of the Sum Assured plus cash value of units.
On death after first year: Full Sum Assured plus cash value of units.

On death during the 10th year: 105% of the Sum Assured plus cash value of units.

On death due to accident anytime during the policy term, an amount equal to the sum assured, in addition to the death benefit specified above will be paid.


Surrender Value:
On termination of the policy (for reasons other than death) after completion of at least 1 year but before maturity date, the cash value of units is available, subject to deductions as given below.

Maturity Benefit
5% of the Sum Assured along with the cash value of units is payable.

Note: The above is the product summary giving the key features of the plan. This is for illustrative purpose only. This does not represent a contract and for details please refer to your policy document.

Benefit Illustration

Statutory warning
“Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your life insurance company. If your policy offers guaranteed returns then these will be clearly marked “guaranteed” in the illustration table on this page. If your policy offers variable returns then the illustrations on this page will show two different rates of assumed investment returns. These assumed rates return are not guaranteed and they are not upper or lower limits of what you might get back as the value of your policy is dependent on a number of factors including future investment performance.”

Illustration 1:
Frequency of premium payment: Single Premium

The Non-guaranteed benefits shown below are the amounts based on the cash value of the available units, after deduction of the charges and surrender penalties, wherever applicable.

In case of death due to accident the Death benefit will increase by Rs.1,00,000/-.

* - Rs.30,000/- if death takes place during the first 6 months or Rs.60,000/- if death takes place during 7th month to 12th month.

In addition to the above, Rs.5,000/- is payable on maturity.

Illustration 2:
Premium paying term : 10 years

The Variable benefits shown below are the amounts based on the cash value of the available units, after deduction of the charges and surrender penalties, wherever applicable.

In case of death due to accident the Guaranteed Death benefit will increase by Rs.1,00,000/-.

* - Rs.30,000/- if death takes place during the first 6 months or Rs.60,000/- if death takes place during 7th month to 12th month.

In addition to the above, Rs.5,000/- is payable on maturity.

Note:

1. This illustration is applicable to a non-smoker male/female standard (from medical, life style and occupation point of view) life.

2. The non-guaranteed benefits in the above illustrations are calculated so that they are consistent with the Projected Investment Rate of Return assumption of 6% p.a. (scenario 1) and 10% p.a. (scenario 2) respectively. In other words, in preparing this benefit illustration, it is assumed that the Projected Investment Rate of Return that LICI will be able to earn throughout the term of the policy will be 6% p.a. (scenario 1) or 10% p.a. (scenario 2), as the case may be. The Projected Investment Rate of Return is not guaranteed.

3. The main objective of the illustration is that the client is able to appreciate the features of the product and the flow of benefits in different circumstances with some level of quantification.