LIC's NEW MONEY BACK PLAN - 20 YEARS | PLAN 920

This is a limited payment, non-linked, with profits Money Back Plan

Features & Conditions NEW MONEY BACK PLAN – 20 YEARS

Minimum age at entry – 13 years Ibd

Maximum age at entry – 50 years nbd

Max. age at maturity – 70 years nbd

Policy term – 20 years

Premium Paying term – 15 years

Minimum S.A. – Rs. 1,00,000/- & in multiples of Rs. 5,000 thereafter.

Maximum S.A. – No limit

DEATH BENEFIT: 125% of Basic Sum Assured on Death + Vested Bonus + FAB if any.

SURVIVAL BENEFIT: 20% of Basic SA is payable after 5^th, 10^th and 15^th year.

MATURITY BENEFIT: 40% of Basic Sum Assured + Vested Bonus + FAB if any.

Available Riders: ADDB/AB Rider, Term Rider & Critical illness Rider.

Mode of Payment: Yearly,Half Yly, Qly & Mly (SSS & NACH) Rebates:

Mode Rebate: Yearly : 2%, Half Yly: 1 %

High Basic S.A. Rebate:

• Upto 1,95,000   : Nil
• 200000 to 4,95,000 : Rs. 2 % of Basic SA
• 500000/- & above : Rs. 3 % of Basic SA

Grace Period: 15 Days for monthly mode and 30 days for other modes.

Claim Concessions: Available under Base Plan only. Not apply to Riders and Death due to Suicide.

Paid up/Surrender/Policy Loan: After Premiums paid for 2 full years.

Revivals: Within 5 years of FUP.

Back Dating: Allowed with lean Month’s benefits. Proposal Form: 300, 340 or 360

Tax Benefits : On Basic Premiums : u/s 80C SB/Maturity/Death claim : u/s 10(10D)

Underwriting Rules: Without Term or CI Rider

Actual Sum Assured (ASA) for SUC: For FMR, Special Reports, MHR & TRSA: 1.25 times of Basic S.A.

Non -Medical Schemes: All Allowed.

Age Proofs: All Allowed.

Female Lives : All Allowed.

Pregnant ladies: Cat A1 only up to 24 weeks of pregnancy.

Minor lives/Maior Students:

• Max TRSA inclusive of all plans Rs. 2crore & Standard Minor lives
• only. TRSA beyond Rs. 2crore/substandard minor lives at CUS
• only with MM’s recommendation. Standard Age Proof is must.

Sub-Standard Maior lives:

• Up to EMR Class Ten only.
• Physically Handicapped lives should be gainfully employed.

Occupation/Residence Extra: 1.50 times of Standard extra.
If Occupation extra is charged CIR/ADDB/AB
Rider will not be allowed.

Keyman/Partnership/Empl-Employee: Allowed only under Employer-Employee

NRIs & FNIOs Residence Group:

• Group 1 & II : Not Allowed.
• Group III & IV : Allowed with extra.
• Group V : Allowed without extra.
• House wives & Juvenile Lives: Group IV & V only.
• NMS : Group V only.
• Mailorder : Only NRIs of Group V.

With Term or Cl Rider: Underwriting Rules of Term or Cl Rider will be applicable.

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LICs SINGLE PREMIUM ENDOWMENT | PLAN 917

This is a single premium, non-linked, with profits Endowment Plan

Features & Conditions of SINGLE PREMIUM ENDOWMENT PLAN

Minimum age at entry  :90 days lbd

Maximum age at entry : 65 years nbd

Min. age at maturity    : 18 years lbd

Max. age at maturity   : 75 years nbd

Minimum term : 10 years

Maximum term : 25 years

Minimum S.A.  :    50,000/- & in multiples  of  5,000  thereafter.

Maximum S.A.  :   No limit

Available Riders: ADDB and Term Rider for full Policy Term.

Mode of  Payment:    Single Premium Rebates:

High S.A. Rebate

• Upto 95,000 : Nii
• 1,00,000  to 1,95,000 : 18 %0 SA
• 2,00,000  to 2,95,000  : 25 %0 SA
• 3,00,000/- & above : 30 %0 SA Policy

Loan :After one policy year.

Surrender:

• First Year: 75% of SP.
• 2nd Year  Onwards:  90% of  SP  + SV  of bonus

Commencement of Risk Cover for age at Entry:

• Less than 8 years nbd: 2 years after DOC or from policy anniversary coinciding with or immediately following attainment of 8 years of age, whichever is earlier.
• 8 years nbd and above: Immediate.

DEATH BENEFIT:

• Before commencement of risk: Return of SP excluding GST & Extra.
• After commencement of risk: SA on death + Vested Bonus + FAB if a

MATURITY BENEFIT: Basic SA + Vested Bonus + FAB if any.

Back Dating: Allowed without lean months benefit . Interest will be charged for exact no. of days from DOC to date of payment.

Proposal Form: 300, 340 or 360. Income

Tax Benefits :

• On Basic Prem : u/s 80C up to 10% of SA
• Maturity : Taxable
• Death  Claim   :u/s 10(10D)

Underwriting Rules: Without Term Rider

Actual Sum Assured (ASA) for SUC: For FMR, Special Reports, MHR & TRSA: Basic S.A. less Single Premium paid.

Non-Medical Schemes: All Allowed, incl. Exclusive Single Premium NM Scheme.

Age Proofs: All Allowed.

Female Lives : All Allowed.

Pregnant ladies: Cat A1 only up to 24 weeks of pregnancy.

Minor lives/Major Students: Max TRSA inclusive of all plans Rs. 2 crore & Standard Minor lives only. TRSA beyond Rs. 2 crore /substandard minor lives at CUS only with MM’s recommendation. Standard Age Proof is must.

Third Gender: Standard Age proof is must. Proposal will be decided at CO NB&R Department.

Sub-Standard Major lives:

• Up to EMR Class Ten only.
• Physically Handicapped lives should be gainfully employed.

Occupation/Residence Extra:

Rating up factor for Standard Extra:

10 years : 7.75,  15 years : 10.15

20 years : 11.95,  25 years : 13.30

If Occupation Extra is charged ADDB Rider will not be allowed.

Keyman/Partnership/Employer-Employee: Allowed only under Employer-Employee

NRIs & FNIOs Residence Group:

Term up to 15 years: All Groups allowed without Extra for Max S.A. as applicable to each group.

Term above 15 years:

• Group I & II : Not Allowed.
• Group III to IV : Allowed with extra.
• Group V : Allowed without extra.
• Juvenile lives & House wives : Group IV & V only.

NMS & Exclusive SP Non-Medical Scheme: Group V only. Mailorder : Only NRIs of Group V.

With Term Rider: Underwriting Rules of Term Rider will be applicable

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LIC's NEW BIMA BACHAT | PLAN 916

This is a single premium, non-linked, with profits Money Back type Plan

Features & Conditions of NEW BIMA BACHAT PLAN

Minimum age at entry : 15 years Ibd Maximum age at entry : 50 years nbd

Policy Term – 9, 12 and 15 Years

Term	Max Age at Maturity nbd	Min Sum Assured
9 years	59 years	Rs.35,000
12 years	62 years	Rs.50,000
15 years	65 years	Rs.70,000

Maximum S.A. : No limit

SA in multiples of Rs. 5,000 only.

Available Riders: ADDB and Term Rider for full Policy Term.

Mode of Payment: Single Premium

High S.A. Rebate (As % of Tabular Premium)

Term 9 years:

• Up to Rs. 70,000 : Nil
• Rs. 75,000 to Rs. 1,45,000 : 6%
• Rs. 1,50,000 & above : 8%

Term 12 years:

• Up to Rs. 95,000 : Nil
• Rs. 1,00,000 to Rs. 1,95,000 : 4%
• Rs. 2,00,000 & above  : 6%

Term 15 years:

• Up to Rs.  45,000  :  Nil
• Rs. 1,50,000 to Rs. 2,95,000 : 3%
• Rs. 3,00,000 & above   : 5%

DEATH BENEFIT:

• During 1^st five years policy years : SA on Death
• From 6^th year onwards : SA on Death + Loyalty Addition, if any.

SURVIVAL BENEFIT:

• For Policy Term of 9 years : 15% of SA, after 3^rd & 6^th policy year.
• For Policy Term of 12 years: 15% of SA, after 3^rd,6^th & 9^th policy year.
• For Policy Term of 15 years: 15% of SA, after 3^rd ,6^th,9^th & 12^th policy year.

MATURITY BENEFIT: Single Premium Paid + Loyalty Additions, if any.

Policy Loan: Only after one policy year.

Surrender: First Year: 75% of SP. 2^nd Year Onwards: 90% of SP less SB Paid.

Back Dating: Allowed without lean months benefit. Interest will be charged for exact no. of days from DOC to date of payment.

Proposal Form: 300, 340 or 360

Tax Benefits :

• On Basic Premium : u/s 80C up to 10% of SA Maturity : Taxable
• Death Claim : u/s 10(10D)

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