Term Assurance Plans of LIC

Term Assurance Plans:

a) Temporary Assurance (Table No. 43):
It is a term assurance plan which provides risk cover for a short period of two years or less.

b) Mortgage redemption Assurance (Table No. 52):
Decreasing term assurance policy to meet the requirements of borrowers, where the death benefit is the outstanding loan amount.

c) Convertible Term Assurance (Table No. 58):
It is a term assurance plan with an option to convert the policy to whole life limited payment assurance or endowment assurance at any time during the specified term, without undergoing fresh medical examination.

d) LIC’s Anmol Jeevan – 1 (Table No. 164):
A term assurance plan where one can choose any term from 5 to 25 years. It provides for payment of the sum assured on death of the life assured during the term of the policy.

e) LIC’s Amulya Jeevan – 1 (Table No. 190):
A term assurance plan with a minimum sum assured of Rs 25 lakhs.