Jeevan Amrut

Product summary:
Some people, particularly the younger ones, want to have high cover at a low cost. Further, many of them do not want commitment to pay premiums for a longer duration. LIC's Jeevan Amrit is most suitable for such persons. Under this plan premium payment is limited to 3 or 4 or 5 years and the premium payable during the first year is higher than the premiums payable in subsequent years.

Options:
You may choose Sum Assured (S.A.), Premium Paying Term, Policy Term and Mode of premium payment.

Payment of Premiums :
You may pay premiums yearly or half-yearly during the premium paying term of 3 or 4 or 5 years.

Jeevan Anand

Product summary:
This plan is a combination of Endowment Assurance and Whole Life plans. It provides financial protection against death throughout the lifetime of the life assured with the provision of payment of a lump sum at the end of the selected term in case of his survival.

Premium:
Premiums are payable yearly, half-yearly, quarterly, monthly or through salary deductions as opted by you throughout the selected term of the policy or till earlier death.

Bonuses:
This is a with-profit plan and participates in the profits of the Corporation’s life insurance business. It gets a share of the profits in the form of bonuses. Simple Reversionary Bonuses are declared per thousand Sum Assured annually at the end of each financial year. Once declared, they form part of the guaranteed benefits of the plan. Bonuses will be added during the selected term or till death, if it occurs earlier. Final (Additional) Bonus may also be payable provided the policy has run for certain minimum period.

Life Endowment Plan

• Moderate Premiums
• High bonus


• High liquidity


• Savings oriented.

This policy not only makes provisions for the family of the Life Assured in event of his early death but also assures a lump sum at a desired age. The lump sum can be reinvested to provide an annuity during the remainder of his life or in any other way considered suitable at that time.

Premiums are usually payable for the selected term of years or until death if it occurs during the term period.

Suitable For:
Being an endowment assurance policy, this plan is apt for people of of all ages and social groups who wish to protect their families from a financial setback that may occur owing to their demise.

The amount assured if not paid by reason of his death earlier will payable at the end of the endowment term where it can be invested in an annuity provision for the rest of the policyholder's life or in any other way he may think most suitable at that time.

Disability Benefit:
In case policy holder becomes totally and permanently disabled due to an accident before reaching the age of 70 and the policy is in full force, he will not be required to pay further premiums, (the Disability Benefit is available in respect of the first Rs.20,000 sum assured on any one life) and the policy will continue to be in force.

Accident Benefit:
By paying a small extra premium of Rs.1 per Rs.1000/- sum assured per year he or his family are entitled to the following benefits on death or permanent disability caused by accident. Even students above the age of 18 years can avail of this benefit.

Premium Stoppage:
If payment of premiums ceases after at least THREE years' premiums have been paid , a free paid-up policy for a reduced sum assured will be automatically secured provided the reduced sum assured, exclusive of any attached bonus, is not less than Rs. 250/-. The reduced sum assured will become payable on the event as stipulated in the policy.

Bonus:
Is there anything extra payable besides the sum assured at the time of claim settlement? Yes, but only if it is a ‘with profits’ policy. Every year the Life Insurance Corporation distributes its surplus among policyholder to ‘with profits’ polices in the form of bonuses. Substantial bonuses have been declared in the past after each valuation of policy liabilities.