It is the ideal combination of Whole Life and Money Back Plan. It provides an annual survival benefits after the end of premium paying term till maturity and maturity on attainment of age 100 Years, gives you basic sum assured along with vested bonus and final additional bonus, if any.
It gives an 8 % Survival Benefit at the end of premium paying term, to take care of regular needs.
In case of unfortunate demise during term, Sum Assured with Bonuses will be payable till age of 100 Years.
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Every year, LIC declares valuation results.
As per valuation result declared by LIC, profit is being shared among all policyholders as bonus.
By paying small extra premium amount, you can secure your life for high insurance protection on natural or accidental death by opting DAB and Term Rider.
Eligibility Criteria
| Minimum | Maximum | |
| Entry Age | 3 Years (Completed) for PPT 15 Years | 55 Years (nearer birthday) for PPT 15 Years |
| 30 Days (Completed) for PPT 20, 25 & 30 Years | 50 Years (nearer birthday) for PPT 20 Years | |
| 45 Years (nearer birthday) for PPT 25 Years | ||
| 40 Years (nearer birthday) for PPT 30 Years | ||
| Term | 100 Years (Age at Entry) | |
| PPT | 15, 20, 25 and 30 Years | |
| Sum Assured | ₹ 2,00,000/- | No Limit |
Premium Modes
Yearly, Half-Yearly, Quarterly and Monthly (NACH only) or through salary deductions (SSS).
Riders Available
LIC’s Accidental Death & Disability Benefit Rider
LIC’s Accident Benefit Rider
LIC’s New Term Assurance Rider
LIC’s Premium Waiver Benefit Rider
Death Benefit
On death before the commencement of Risk: An amount equal to the total amount of premium(s) paid (without interest) excluding taxes, extra premium and rider premium, if any, shall be payable.
On death after the commencement of Risk: On death of the Life Assured during the Policy Term, Sum Assured on Death alongwith accrued Guaranteed Additions, where “Sum Assured on Death” is defined as higher of Basic Sum Assured or 7 times of annualised premium.
This Death Benefit (as defined above) shall not be less than 105% of total premiums paid upto the date of death. Where,
1. “Annualized Premium” shall be the premium amount payable in a year, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums.
2. “Total Premiums Paid” means total of all the premiums paid under the base product, excluding any extra premium, and taxes, if collected explicitly. In case LIC’s Premium Waiver Benefit Rider is opted for, in the event of death of Proposer, any subsequent Premiums which are waived shall be deemed to have been received and be included in the Total Premiums Paid.
Survival Benefit
On the life assured surviving to the end of the premium paying term, provided all due premiums have been paid, a survival benefit equal to 8% of Basic Sum Assured shall be payable each year. The first survival benefit payment is payable at the end of premium paying term and thereafter on completion of each subsequent year till the Life assured survives or till the policy anniversary prior to the date of maturity, whichever is earlier.
Maturity Benefit
On the life assured surviving to the end of the policy term, provided all due premiums have been paid, “Sum Assured on Maturity” along with vested Simple Reversionary Bonuses and Final Additional bonus, if any, shall be payable; where “Sum Assured on Maturity” is equal to Basic Sum Assured.
Loan Facility is available after completion of first policy year provided one full year’s premium has been paid.
Option to Surrender the Policy
The policy can be surrendered by the policyholder after completion of first policy year provided atleast one full year’s premium(s) has been paid. However, the policy shall acquire Guaranteed Surrender Value on payment of atleast two full years’ premiums and Special Surrender Value after completion of first policy year provided one full year’s premium(s) has been paid. On surrender of an in-force or paid-up policy, the Corporation shall pay the surrender value equal to higher of Guaranteed Surrender Value and Special Surrender Value.
