LIFE INSURANCE PRODUCTS
Protect Your Future: Discover Our Comprehensive Insurance Solutions from LIFE INSURANCE CORPORATION OF INDIA
1. ENDOWMENT PLANS
The LIC Single Premium Endowment Plan is a life insurance policy offered by the LIC of India that offers both protection and savings benefits. It requires a one-time premium payment and provides a lump sum payment upon maturity or in case of the insured’s unfortunate demise during the policy term. Additionally, the plan allows for loans against the policy after completion of one year, with the loan amount being 90% of the surrender value. This plan aims to provide financial security to the insured and their family, combining insurance coverage with a savings component for future financial goals.
LIC’s New Endowment Plan is a Par, Non-Linked, Life, Individual, Savings plan which offers an attractive combination of protection and saving features. This combination provides financial support for the family of the deceased policyholder any time before maturity and lump sum amount at the time of maturity for the surviving policyholders.
LIC’s New Jeevan Anand Plan is aPar, Non-linked,life, Individual,Savings plan which offers an attractive combination of protection and savings. This combination provides financial protection against death throughout the lifetime of the policyholder with the provision of payment of lumpsum at the end of the selected policy term in case of his/her survival.
LIC’s Jeevan Lakshya is a Par, Non-linked, Life, Individual, Savings plan which offers a combination of protection and savings. This plan provides for Annual Income benefit that may help to fulfill the needs of the family, primarily for the benefit of children, in case of unfortunate death of Policyholder any time before maturity and a lump sum amount at the time of maturity irrespective of survival of the Policyholder.
LIC’s Jeevan Labh is a Par, Non-Linked, Life, Individual, Savings plan which offers an attractive combination of protection and savings features. This combination provides financial support for the family of the deceased policyholder in case of unfortunate death of the policyholder any time before maturity and a lump sum amount at the time of maturity for the surviving policyholder.
LIC’s Amritbaal is a, Non-Par, Non-Linked, Life, Individual, Savings plan. The plan is specifically designed to have an adequate corpus to meet the higher education and other needs of your child. It facilitates accumulation of corpus through Guaranteed Addition. This is a non-participating product under which benefits payable on death or survival are guaranteed and fixed irrespective of actual experience. Hence the policy is not entitled to any discretionary benefits like bonus etc. or share in Surplus.
LIC’s Bima Jyoti is a Non-Par, Non-Linked, Life, Individual, Savings Plan which offers an attractive combination of protection and savings. This plan provides financial support for the family in case of unfortunate death of the policyholders during the policy term and guaranteed lumpsum payment to the surviving policyholder at the time of maturity.It facilitates accumulation of corpus through Guaranteed Addition. This is a non-par product under which benefits payable on death or survival are guaranteed and fixed irrespective of actual experience. Hence the policy is not entitled to any discretionary benefits like bonus etc. or share in Surplus.
LIC's Jeevan Azad
LIC’s Jeevan Azad is a Non-Par, Non-Linked, Life, Individual, Savings plan which offers a combination of protection and savings. This is a Limited Premium Payment Endowment plan which provides financial support for the family in case of unfortunate death of the life assured during the policy term and also
takes care of liquidity needs through loan facility. It also provides guaranteed lumpsum amount to the surviving life assured on the date of maturity. This is a Non-Par product under which benefits payable on death or survival are guaranteed and fixed irrespective of actual experience. Hence the policy is not entitled to any discretionary benefits like bonus etc. or share in Surplus.
2. WHOLE LIFE PLAN
LIC’s Jeevan Umang is a Par, Non-Linked, Individual, Savings, Whole Life Insurance plan which offers a combination of income and protection to your family. This plan provides for annual survival benefits from the end of the premium paying term till maturity and a lump sum payment at the time of maturity or on death of the policyholder during the policy term.
LIC’s Jeevan Utsav is a Non-Par, Non-Linked, Individual, Savings, Whole Life Insurance plan. This plan provides financial support to family in case of unfortunate death of Life Assured and survival benefits in the form of Regular Income Benefit or Flexi Income Benefit as per the option chosen for surviving policyholder.
LIC’s Jeevan Utsav is a non-par product under which benefits payable on death or survival are guaranteed and fixed irrespective of actual experience. Hence the policy is not entitled to discretionary benefits like bonus etc. or share in Surplus.
3.MONEY BACK POLICY
LIC’s Bima Shree plan offers a combination of protection and savings. This plan is specially designed for High Net-worth Individuals. This plan provides financial support for the family in case of unfortunate death of the policyholders during the policy term. Periodic payments shall also be made on survival of the
policyholder at specified durations during the policy term and a lump sum payment to the surviving policyholder at the time of maturity. This Plan can be purchased Offline through Licensed agents,Corporate agents, Brokers and Insurance Marketing Firm
LIC’s New Money Back Plan-20 years is a Par, Non-Linked, Life, Individual Savings plan which offers an attractive combination of protection against death throughout the term of the plan along with the periodic payment on survival at specified durations during the term. This unique combination provides financial support for the family of the deceased policyholder any time before maturity and lump sum amount at the time of maturity for the surviving policyholders. This plan also takes care of liquidity needs through its loan facility.
LIC’s New Money Back Plan-25 years is a Par, Non-Linked, Life Individual Savings plan which offers an attractive combination of protection against death throughout the term of the plan along with the periodic payment on survival at specified durations during the term. This unique combination provides financial support for the family of the deceased policyholder any time before maturity and lump sum amount at the time of maturity for the surviving policyholders. This plan also takes care of liquidity needs through its loan facility.
LIC’s New Children’s Money Back Plan is a Par, Non-linked Life, Individual, Savings plan. This plan is specially designed to meet the educational, marriage and other needs of growing children through Survival Benefits. In addition, it provides for the risk cover on the life of child during the policy term and for number of survival benefits on surviving to the end of the specified durations.
The plan can be purchased by any of the parent or grand parent for a child aged 0 to 12 years
LIC’s JEEVAN TARUN is a Par, Non-linked, Life, Individual, savings plan for children which offers an attractive combination of protection and saving features. This plan is specially designed to meet the educational and other needs of growing children through annual Survival Benefit payments from ages 20 to 24 years and Maturity Benefit at the age of 25 years. The plan can be purchased by any of the parent or grandparent for a child aged 0 to 12 years. The proposer can choose the proportion of Survival Benefits to be availed during the term of the policy out of the four available options
4. TERM INSURANCE PLANS
LIC’s Digi Term is a Non-Par, Non-Linked, Life, Individual, Pure Risk Plan, which provides financial protection to the insured’s family in case of his/her unfortunate death during the policy term.
This is a non-par product under which benefits payable on death are guaranteed and fixed irrespective of actual experience. Hence the policy is not entitled to any discretionary benefits like bonus etc. or share in Surplus.
LIC’s Digi Credit Life plan is a Non-Par, Non-Linked, Life, Individual, Pure Risk plan. This plan provides a safety net against any loan repayment to the insured’s family in case of his/her unfortunate death during policy term. This plan shall be available Online only and can be purchased directly through website ww.licindia.in.This is a Non-Par Product where policies are not entitled for any share in surplus (profits) during the term of the policy. LIC’s Digi Credit Life is a pure decreasing Term Assurance plan wherein the death benefit will reduce over the term of the policy. The Policyholder shall choose the Basic Sum Assured, Policy Term and Interest rate depending on the terms and conditions of availed loan. A Risk Cover Schedule shall be prepared based on the Basic Sum Assured, Policy Term, and Interest rate chosen by the Policyholder.
The available interest rates for Risk Cover Schedule are 6%, 7%, 8%, 9%,10%,11% and 12%, irrespective of the Interest rate charged by the Loan provider on the
loan availed by the Policyholder. The Risk Cover Schedule shall show the Sum Assured on Death (i.e. Death Benefit) for each Policy Year and shall be based on
the chosen interest rate p.a. effective on an equated yearly repayment basis, irrespective of the actual loan repayment. At the inception, the Sum Assured on
Death shall be equal to the Basic Sum Assured and subsequently at each Policy Year, Sum Assured on Death shall be as mentioned in the Risk Cover Schedule.
Therefore, death benefit as specified in the Risk Cover Schedule may be higher or lower than the actual outstanding Loan.
LIC’s Yuva Credit Life plan is a Non-Par, Non-Linked, Life, Individual, PureRisk plan. This plan provides a safety net against any loan repayment to the insured’s family in case of his/her unfortunate death during policy term.
This is a Non-par product where policies are not entitled for any share in surplus (profits) during the term of the policy. This Plan can be purchased Offline through Licensed agents, Corporate agents, Brokers and Insurance Marketing Firms.
LIC’s Yuva Credit Life is a pure decreasing Term Assurance plan wherein the death benefit will reduce over the term of the policy. The Policyholder shall choose the Basic Sum Assured, Policy Term and Interest rate depending on the terms and conditions of loan. A Risk Cover Schedule shall be prepared based on the Basic Sum Assured, Policy Term, and Interest rate chosen by the Policyholder. The available interest rates for Risk Cover Schedule are 6%, 7%, 8%, 9%,10%,11% and 12%, irrespective of the Interest rate charged by the Loan provider on the loan availed by the Policyholder. The Risk Cover Schedule shall show the Sum Assured on Death (i.e. Death Benefit) for each Policy Year and shall be based on the chosen interest rate p.a. effective on an equated yearly repayment basis, irrespective of the actual loan repayment. At the inception, the Sum Assured on Death shall be equal to the Basic Sum Assured and subsequently at each Policy Year,
Sum Assured on Death shall be as mentioned in the Risk Cover Schedule.Therefore, death benefit as specified in the Risk Cover Schedule may be higher or lower than the actual outstanding Loan..
LIC’s Yuva Term is a Non-Par, Non-Linked, Life, Individual, Pure Risk Plan, which provides financialprotection to the insured’s family in case of his/her unfortunate death during the policy term. This is a non-par product under which benefits payable on death are guaranteed and fixed irrespective of actual experience. Hence the policy is not entitled to any discretionary benefits like bonus etc. or share in Surplus.
LIC’s New Tech-Term is a Non-Par, Non-Linked, Life, Individual, Pure Risk Plan. This Online planprovides financial protection to the insured’s family in case of his/her unfortunate death during thepolicy term. This plan shall be available Online only directly through website www.licindia.in.Key features of LIC’s New Tech-Term:
Flexibility to choose from two benefit options: Level Sum Assured and Increasing Sum Assured.
Flexibility to
o Choose from Single Premium, Regular Premium and Limited Premium Payment
o Choose the Policy Term/Premium Paying Term
o Opt for payment of benefit in instalments.
Special rates for women.
Benefit of attractive High Sum Assured Rebate.
Two categories of premium rates namely (1) Non-Smoker rates and (2) Smoker rates. The
application of Non-Smoker rates shall be based on the findings of the Urinary Cotinine test.
In all other cases, the Smoker rates will be applicable.
Option to enhance coverage by opting for Accident Benefit Rider on payment of additional
premium for the rider benefit.
LIC’s New Jeevan Amar is a Non-Par, Non-Linked, Life, Individual, Pure Risk Plan, which provides financial protection to the insured’s family in case of his/her unfortunate death during the policy term. This Plan can be purchased Offline through Licensed agents, Corporate agents, Brokers and Insurance Marketing Firms. Key features of LIC’s New Jeevan Amar:
Flexibility to choose from two benefit options: Level Sum Assured and Increasing Sum Assured.
Flexibility to o Choose from Single Premium, Regular Premium and Limited Premium Payment o Choose the Policy Term/Premium Paying Term o Opt for payment of benefit in instalments.
Special rates for women.
Benefit of attractive High Sum Assured Rebate.
Two categories of premium rates namely (1) Non-Smoker rates and (2) Smoker rates. The application of Non-Smoker rates shall be based on the findings of the Urinary Cotinine test. In all other cases, the Smoker rates will be applicable.
Option to enhance coverage by opting for Accident Benefit Rider on payment of additional premium for the rider benefit.
LIC’s Saral Jeevan Bima Plan is a Non-Linked, Non-Par, Individual, Pure Risk Life Insurance plan which provides financial protection to the insured’s family in case of his/her unfortunate death during the policy term.
This Plan can be purchased Offline through Licensed agents, Corporate agents, Brokers and Insurance Marketing Firms as well as Online directly through website www.licindia.in.
The prospective policyholders are hereby informed that while making a buying decision reference may be made to the similar available products for informed decision making to choose and select the
Options/Product which best suits their needs such as under annuities, ULIPs etc.
Key features of LIC’s Saral Jeevan Bima:
The plan provides for financial protection
Flexibility to
o Choose from Single Premium, Regular Premium and Limited Premium Payment
o Choose the Premium Paying Term of 5 years or 10 years for Limited Premium Payment
o Choose the Policy Term
Benefit of attractive High Sum Assured Rebate.