LIC Investment Plans

LIC’s Jeevan Pragati Plan

This is a non-linked profit participating endowment plan which comes with a combination of protection and savings.

Product Benefits

• This plan participates in the profits of LIC. This is given as Simple Reversionary Bonuses which are declared on the Basic Sum Assured.
• Option of availing LIC's Accidental Death and Disability Benefit Rider.
• Death benefit payable will be sum of Sum Assured on Death and the vested Simple Reversionary Bonuses and Final Additional bonus, if any, where Sum Assured on Death is defined as the higher of 10 times of annualized premium or Absolute amount assured to be paid on death i.e. 100% of the Basic Sum Assured during first 5 policy years, 125% of the Basic Sum Assured during 6th to 10th policy years, 150% of the Basic Sum Assured during 11th to 15th policy years and thereafter 200% of the Basic Sum Assured.
• Maturity benefit payable will be Basic Sum Assured, along with vested Simple Reversionary bonuses and Final Additional bonus, if any.
• Facility to avail a loan once the policy gains a surrender value.

Eligibility Details

LIC’s Jeevan Labh

This is a non-linked limited premium payment participating endowment plan which comes with a combination of protection and savings.

Product Benefits

• This plan participates in the profits declared by LIC over the financial year. This is given as Simple Reversionary Bonuses which are declared on the Basic Sum Assured.
• Option of availing LIC's Accidental Death and Disability Benefit Rider and LIC's New Term Assurance Rider.
• Death benefit payable will be sum of Sum Assured on Death plus vested Simple Reversionary Bonuses and Final Additional bonus, if any, where Sum Assured on Death is defined as the higher of 10 times of annualized premium or Absolute amount assured to be paid on death i.e. Basic Sum Assured. The death benefit shall not be less than 105% of all the premiums paid as on date of death.
• Maturity benefit payable will be Basic Sum Assured, along with vested Simple Reversionary bonuses and Final Additional bonus, if any.
• Comes with a free look period of 15 days from the date of receipt.
• Facility to avail a loan once the policy gains a surrender value

Eligibility Details

Single Premium Endowment Plan

This is a participating non-linked savings cum protection plan where the premium has to be paid as a single lump sum amount during policy commencement.

Product Benefits

• Facility to avail a loan against this policy.

• Death benefit payable will be return of single premium excluding service tax and extra premium, if any, without interest, if the death took place before the date of commencement of risk OR Sum Assured along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, in case of death after the date of commencement of risk.

• Maturity benefit payable will be Sum Assured, along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any.
• This plan participates in the profits declared by LIC over the financial year. This is given as Simple Reversionary Bonuses which are declared on the Basic Sum Assured.

Eligibility Details

LIC’s New Endowment Plan

This is a participating non-linked endowment plan which comes with a dual benefit of savings and protection.

Product Benefits

• This plan participates in the profits declared by LIC over the financial year. This is given as Simple Reversionary Bonuses which are declared on the Basic Sum Assured.
• Option to avail LIC’s Accidental Death and Disability Benefit Rider.
• Death benefit payable will be a sum of Sum Assured on Death and vested Simple Reversionary Bonuses and Final Additional bonus, if any, where Sum Assured on Death is defined as higher of Basic Sum Assured or 10 times of annualized premium. The death benefit is not less than 105% of all the premiums paid as on date of death.
• Maturity benefit payable will be Basic Sum Assured, along with vested simple reversionary bonuses and Final Additional bonus, if any.
• Facility to avail a loan against this policy.

Eligibility Details

For LIC’s Accidental Death and Disability Benefit Rider:

• Minimum Accident Benefit Sum Assured: Rs. 100,000
• Maximum Accident Benefit Sum Assured: An amount equal to the Sum Assured under the Basic Plan subject to the maximum of Rs.50 lakhs Accident Benefit Sum Assured, taking all existing policies of the Life Assured under individual as well as group schemes, including policies with in-built accident benefit taken with Life Insurance Corporation of India and the Accident Benefit Sum Assured under the new proposal into consideration.

(The Accident Benefit Sum Assured shall be in multiples of Rs. 5000/-)

LIC’s New Jeevan Anand

This is a participating non-linked plan which provides financial protection against death throughout the lifetime of the policyholder.

Product Benefits

• This plan participates in the profits declared by LIC over the financial year. This is given as Simple Reversionary Bonuses which are declared on the Basic Sum Assured. You will also be entitled to Final (Additional) Bonus, if any.
• Option to avail LIC's Accidental Death and Disability Benefit Rider.
• Death benefit payable will be sum of Sum Assured on Death and vested Simple Reversionary Bonuses and Final Additional bonus, if any, where, Sum Assured on Death is defined as higher of 125% of Basic Sum Assured or 10 times of annualised premium. The death benefit is not less than 105% of all the premiums paid as on date of death.
• During the end of the policy term, Basic Sum Assured, along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, will be paid in lump sum on survival to the end of the policy term provided all due premiums have been paid.

Eligibility Details

For LIC’s Accidental Benefit Rider:

• Minimum Accident Benefit Sum Assured: Rs. 100,000
• Maximum Accident Benefit Sum Assured: An amount equal to the Basic Sum assured under the Basic Plan subject to the maximum of Rs.100 lakhs overall limit, taking all existing policies of the Life Assured under individual as well as group schemes, including policies with inbuilt accident benefit taken with Life Insurance Corporation of India and the Accident Benefit Sum Assured under the new proposal into consideration. (The Accident Benefit Sum Assured shall be in multiples of Rs. 5000/-)

LIC’s Jeevan Rakshak

This is a participating non-linked plan which provides a combination of savings and protection.

Product Benefits

• This plan comes with Loyalty Additions, which are paid on death after completion of 5th policy year or on Policyholder surviving to the maturity.
• Option to avail LIC’s Accident Benefit Rider.
• Death benefit payable will be highest of Basic Sum Assured or 10 times of annualized premium or 105% of all the premiums paid as on date of death.
• Maturity benefit payable will be Basic Sum Assured, along with Loyalty Addition, if any, provided all due premiums have been paid.
• Facility to take a loan against this policy.

Eligibility Details

For LIC’s Accidental Benefit Rider:

• Minimum Accident Benefit Sum Assured: Rs. 75,000
• Maximum Accident Benefit Sum Assured: An amount equal to the Basic Sum Assured under the Basic Plan subject to the maximum of Rs.50 lakhs overall limit taking all existing policies of the Life Assured under individual as well as group schemes, including policies with inbuilt accident benefit taken with Life Insurance Corporation of India and the Accident Benefit Sum Assured under the new proposal into consideration.

The Accident Benefit Sum Assured shall be in multiples of Rs. 5,000.

LIC’s Limited Premium Endowment Plan

This is a participating non-linked endowment plan which comes with a dual benefit of savings and financial protection.

Product Benefits

• This plan participates in the profits declared by LIC over the financial year. This is given as Simple Reversionary Bonuses which are declared on the Basic Sum Assured. You will also be entitled to Final (Additional) Bonus, if any.
• Option to avail LIC’s Accidental Death and Disability Benefit Rider and LIC’s New Term Assurance Rider.
• Death benefit payable will be sum of Sum Assured on Death, vested Simple Reversionary Bonuses and Final Additional bonus, if any, where Sum Assured on Death is defined as the highest of 10 times of annualised premium or Guaranteed Sum Assured on Maturity i.e. Basic Sum Assured or Absolute amount assured to be paid on death i.e. 125% of Basic Sum Assured. The death benefit is not to be less than 105% of all the premiums paid as on date of death.
• Maturity benefit payable will be Basic Sum Assured, along with vested Simple Reversionary bonuses and Final Additional bonus, if any, provided all due premiums have been paid.
• Flexibility in premium payment.

Eligibility Details

LIC’s Jeevan Lakshya

This is a participating non-linked plan which provides a lump sum amount at the time of maturity, irrespective of survival of the Policyholder.

Product Benefits

• Entitled to Simple Reversionary Bonuses and Final Additional Bonus, if any.
• Option of availing LIC’s Accidental Death and Disability Benefit Rider and LIC’s New Term Assurance Rider.
• Death benefit payable will be sum of Sum Assured on Death, vested Simple Reversionary Bonuses and Final Additional Bonus, if any, where Sum Assured on Death will be Annual Income Benefit equal to 10% of the Basic Sum Assured, which shall be payable from the policy anniversary coinciding with or following the date of death of Life Assured, till the policy anniversary prior to the date of maturity OR Assured Absolute Amount equal to 110% of Basic Sum Assured, which shall be payable on due date of maturity.
• Maturity benefit payable will be Basic Sum Assured, along with vested Simple Reversionary bonuses and Final Additional bonus, if any, provided all due premiums have been paid.

Eligibility Details

LIC’s Aadhaar Shila

A savings cum protection plan designed specifically for women with an Aadhaar Card.

Product Benefits

• Comes with auto cover and loan facility.
• In case of death during policy term, provided all premiums have been paid, the death benefit payable will be Sum Assured on Death (on death during first five years)
• In case of death post first five policy years but before the date of maturity, the death benefit payable will be Sum Assured on Death and Loyalty Addition, if any, where Sum Assured on Death is defined as the highest of 10 times of annualised premium; or Sum Assured on Maturity as defined in or Absolute amount assured to be paid on death, i.e. 110% of Basic Sum Assured.
• Maturity benefit payable will be Sum Assured on Maturity along with Loyalty Addition, if any.
• Entitled to loyalty addition post five years of premium payment.
• Option of availing LIC’s Accident Benefit Rider.

Eligibility Details

1. Minimum Basic Sum Assured per life: Rs. 75,000
2. Maximum Basic Sum Assured per life: Rs. 300,000
3. Minimum Age at entry: 8 years (completed)
4. Maximum Age at entry: 55 years (nearest birthday)
5. Policy Term: 10 to 20 years
6. Premium Paying Term: Same as Policy Term
7. Maximum Age at Maturity: 70 years (nearest birthday) The Basic Sum Assured shall be in multiples of Rs.5,000/- from Basic Sum Assured Rs. 75,000 to Rs. 1,50,000/- and Rs.10,000/- for Basic Sum Assured above Rs.1,50,000/-.

Premiums can be made in yearly, half-yearly, quarterly or monthly mode.

LIC’s Aadhaar Stambh

A savings cum protection plan designed specifically for men with an Aadhaar Card.

Product Benefits

• Comes with auto cover and loan facility.
• In case of death during policy term, provided all premiums have been paid, the death benefit payable will be Sum Assured on Death (on death during first five years)
• In case of death post first five policy years but before the date of maturity, the death benefit payable will be Sum Assured on Death and Loyalty Addition, if any, where Sum Assured on Death is defined as the highest of 10 times of annualised premium; or Sum Assured on Maturity as defined in or Absolute amount assured to be paid on death, i.e. 110% of Basic Sum Assured.
• Maturity benefit payable will be Sum Assured on Maturity along with Loyalty Addition, if any.
• Entitled to loyalty addition post five years of premium payment.
• Option of availing LIC’s Accident Benefit Rider.

Eligibility Details

1. Minimum Basic Sum Assured per life : Rs. 75,000
2. Maximum Basic Sum Assured per life : Rs. 300,000
3. Minimum Age at entry : 8 years (completed)
4. Maximum Age at entry : 55 years (nearest birthday)
5. Policy Term : 10 to 20 years
6. Premium Paying Term : Same as Policy Term
7. Maximum Age at Maturity : 70 years (nearest birthday) The Basic Sum Assured shall be in multiples of Rs.5,000/- from Basic Sum Assured Rs. 75,000 to Rs. 1,50,000/- and Rs.10,000/- for Basic Sum Assured above Rs.1,50,000/-. Premiums can be made in yearly, half-yearly, quarterly or monthly mode.

LIC’s Jeevan Umang

This is a non-linked with profit whole life insurance plan which provides income and protection to you and your family.

Product Benefits

• Entitled to Simple Reversionary Bonuses and Final Additional Bonus, if any.
• In case of death before commencement of risk, death benefit payable will be Return of premiums paid without interest.
• In case of death post commencement of risk, death benefit payable will be sum of Sum Assured on Death and vested Simple Reversionary Bonuses and Final Additional bonus, if any, where Sum Assured on Death is the highest of 10 times of annualised premium; or Sum Assured on Maturity; or Absolute amount assured to be paid on death, i.e. Basic Sum Assured.
• A survival benefit of 8% of the Basic Sum Assured is paid per year, provided all due premiums have been paid.
• Maturity benefit payable will be Sum Assured on Maturity along with vested Simple Reversionary Bonuses and Final Additional bonus, if any.
• Wide options of riders available like LIC’s Accidental Death and Disability Benefit Rider, LIC’s Accident Benefit Rider, LIC’s New Term Assurance Rider, LIC’s New Critical Illness Benefit Rider.

Eligibility Details

1. Minimum Basic Sum Assured : Rs. 2,00,000
2. Maximum Basic Sum Assured : No limit
3. Premium Paying Term : 15, 20, 25 and 30 years
4. Policy Term : (100 – age at entry) years
5. Minimum Age at entry : 90 days (completed)
6. Maximum Age at entry : 55 years (nearest birthday)
7. Minimum Age at the end of premium paying term : 30 years (nearest birthday)
8. Maximum Age at the end of premium paying term : 70 years (nearest birthday)
9. Age at maturity : 100 years (nearest birthday) (The Basic Sum Assured shall be in multiples of Rs. 25,000/-)

LIC’s New Money Back Plan - 20 years

This is a participating non-linked plan which comes with a combination of protection against death along with periodic payouts on survival.

Product Benefits

• Entitled to Simple Reversionary Bonuses and Final Additional Bonus, if any.
• Death benefit payable will be sum of Sum Assured on Death and vested Simple Reversionary Bonuses and Final Additional Bonus, if any, where Sum Assured on Death is defined as higher of 125% of the Basic Sum Assured or 10 times of annualized premium.
• 20% of the Basic Sum Assured at the end of each of 5th, 10th & 15th policy year will be given as Survival Benefit.
• 40% of the Basic Sum Assured along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, will be given as Maturity Benefit.
• Option for availing LIC’s Accidental Death and Disability Benefit Rider.
• Facility to take a loan against the policy.

Eligibility Details

For LIC’s Accidental Death and Disability Benefit Rider:

LIC’s New Money Back Plan - 25 years

This is a participating non-linked plan which comes with a combination of protection against death along with periodic payouts on survival.

Product Benefits

• Entitled to Simple Reversionary Bonuses and Final Additional Bonus, if any.
• Death benefit payable will be sum of Sum Assured on Death and vested Simple Reversionary Bonuses and Final Additional Bonus, if any, where Sum Assured on Death is defined as higher of 125% of the Basic Sum Assured or 10 times of annualized premium.
• 15% of the Basic Sum Assured at the end of each of 5th, 10th, 15th & 20th policy year will be given as Survival Benefit.
• 40% of the Basic Sum Assured along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, will be given as Maturity Benefit.
• Option for availing LIC’s Accidental Death and Disability Benefit Rider.
• Facility to take a loan against the policy.

Eligibility Details

For LIC’s Accidental Death and Disability Benefit Rider:

LIC’s New Bima Bachat

This is a participating non-linked savings cum protection plan where you are required to pay the premium as a lump sum amount at the date of policy commencement.

Product Benefits

• Death benefit payable will be Sum Assured in case of death during the first 5 policy years OR Sum Assured along with Loyalty Addition, if any, in case of death post completion of first 5 policy years.
• Survival benefit payable will be
  • for policy term 9 years: 15% of the Sum Assured at the end of each of 3rd & 6th policy year
  • for policy term 12 years: 15% of the Sum Assured at the end of each of 3rd, 6th & 9th policy year
  • for policy term 15 years: 15% of the Sum Assured at the end of each of 3rd, 6th, 9th & 12th policy year.
• Entitled to loyalty addition.
• Maturity benefit payable will be Payment of Single Premium (excluding taxes and extra premium, if any) along with Loyalty Addition, if any.
• Facility to avail a loan of up to 60% of the Surrender Value.

Eligibility Details

• Minimum entry age: 15 years (completed).
• Maximum entry age: 66 years (nearest birthday) for term 9 years.
• 63 years (nearest birthday) for term 12 years.
• 60 years (nearest birthday) for term 15 years.
• Maximum maturity age: 75 years (nearest birthday).
• Policy Term: 9, 12 or 15 years.
• Minimum Sum Assured: a. Rs.35,000 for term 9 years. b. Rs.50,000 for term 12 years. c. Rs.70,000 for term 15 years.
• Maximum Sum assured: No limit.
• Sum Assured will be in multiples of Rs.5,000/- only.
• Premium payment mode: Single Premium only.

LIC Jeevan Tarun

This is a participating non-linked limited premium payment child plan which offers a combination of protection and savings. It is a highly flexible child plan as you have the option to choose the proportion of Survival Benefits to be availed during the term of the policy as per the following four options:

Survival Benefit - An annual payment which comprises of a fixed percentage of Sum Assured (as defined in the table above) every year, starting from policy anniversary coinciding with or following the completion of 20 years of age, and thereafter on each of the next 4 policy anniversaries. Along with this, Maturity Benefit is a fixed percentage of Sum Assured (as defined in the table above) with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, on maturity.

You, as a parent or a grandparent, can purchase this child plan for your kid aged 0 to 12 years.

Death Benefit A: In case of death during the policy term but before commencement of risk, return of premium/s paid excluding taxes, extra premium and rider premium, if any, without interest shall be payable. B: In case of death during the policy term but post commencement of risk, a Sum Assured on Death and vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable, where “Sum Assured on Death” is higher of 10 times of annualized premium or Absolute amount Assured to be paid on Death i.e. 125% Sum Assured.

Rider Option - LIC’s Premium Waiver Benefit Rider

Eligibility Details

1. Minimum Sum Assured: Rs. 75,000
2. Maximum Sum Assured: No Limit (The Sum Assured shall be in multiples of Rs. 5,000 from Sum Assured Rs. 75,000 to Rs. 100,000 and Rs. 10,000/- for Sum Assured above Rs. 100,000)
3. Minimum Age at entry: 90 days (last birthday)
4. Maximum Age at entry: 12 years (last birthday)
5. Maximum Age at entry: 12 years (last birthday)
6. Minimum/ Maximum Maturity Age: 25 years (last birthday)
7. Policy Term: 25 – Age at entry
8. Premium Paying Term (PPT): 20 – Age at entry years

Date of commencement of risk: In age at entry is less than 8 years, risk will commence either one day before the completion of 2 years from the date commencement of policy or one day before the policy anniversary or immediately following the completion of 8 years of age, whichever is earlier. For those aged 8 years or more, risk will commence immediately.

LIC’s New Children’s Money Back Plan

This is a traditional money back child plan which offers flexibility in terms of premium payment.

• Survival Benefits - 20% of the selected Sum Assured at each policy anniversary when attaining 18|20|22 years of age of the life insured. You have the option to defer the receipt of survival benefits.

• Maturity Benefit - 40% of the Sum Assured plus vested simple reversionary bonuses plus Final Additional Bonus, if any, is paid to the policy holder.

Death Benefit

A: In case of death of the insured before the date of commencement of risk:, only the paid premiums will be returned. B: In case of death of the insured after the date of commencement of risk, the Sum Assured on death is higher of the selected Sum Assured or 10x the annual premium plus vested simple reversionary bonuses plus Final Additional Bonus, if any, is paid to the policy holder. This is subject to a minimum of 105% of all premiums paid till the date of death.

Rider Option - LIC’s Premium Waiver Benefit Rider

Rebate - Rebate is given to the policyholder on premium rates, only if they pay premiums half yearly or annually at 1% and 2% respectively. There is also a high Sum Assured for Basic Sum Assured of ₹2 lakhs to 4.90 @ 2% and ₹5 Lakh and above @ 3%) Tax Benefit - You are entitled to tax deductions on premiums paid under Section 80C and Section 10(10D) of the Income Tax Act, 1961.

Eligibility Details