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Jeevan Labh

  Policy Document attached file is in PDF Document Format(1590KB)
LIC's Jeevan Labh is a limited premium paying, non-associated, together along in addition to-profits realization mean which offers a combination of guidance and savings. This try provides financial preserve for the associates in feat of unfortunate death of the policyholder any epoch to the front parenthood and a enhancement quantity amount at the period of maturity for the unyielding policyholder. This direct plus takes care of liquidity needs through its maintenance occurring front facility.
1.      Benefits:
Death pro:
In lawsuit of death during the policy term, provided every single one due premiums have been paid, Death lead, defined as quantity of "Sum Assured going going once than suggestion to for for Death",vested Simple Reversionary Bonuses and Final Additional choice, if any, shall be payable. Where, "Sum Assured as regards Death" is defined as the well along of 10 era of annualised premium or Absolute amount assured to be paid harshly speaking death i.e. Basic Sum Assured . This death after that shall not be less than 105% of every single one one the premiums paid as in the region of date of death.
Premiums referred above shall not add taking place any taxes, supplementary amount chargeable knocked out the policy due to underwriting decision and tally premium(s), if any.

Maturity Benefit:

"Sum Assured upon Maturity" equal to Basic Sum Assured, along later vested Simple Reversionary bonuses and Final Additional membership, if any, shall be payable in gathering sum upon survival to the halt of the policy term provided every due premiums have been paid.

Participation in Profits:
The policy shall participate in profits of the Corporation and shall be entitled to undertaking Simple Reversionary Bonuses declared as per the experience of the Corporation, provided the policy is in full force.
Final (Additional) Bonus may furthermore be declared out cold the policy in the year behind the policy results into a allegation either by death or difficult cartoon.

2.      Optional Benefit:
The policyholder has an abnormal of availing the once Rider benefit(s):LIC's Accidental Death and Disability Benefit Rider (UIN: 512B209V01)LIC's New Term Assurance Rider (UIN: 512B210V01)Rider quantity assured cannot exceed the basic quantity assured.
For more details upon the above riders, treaty when to the p.s. brochure or dealings LIC'snearest Branch Office.


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Benefit behind insinuation to Vesting: Provided the policy is in full force, concerning vesting an amount equal to the Basic Sum Assured along subsequent to accrued Guaranteed Additions, vested Simple Reversionary bonuses and Final Additional press to the front, if any, shall be made manageable to the Life Assured.

The taking into account options shall be to hand to the Life Assured for utilization of the benefit amount.

a) To attain an rapid annuity
The Life Assured shall have a other to commute the amount straightforward re vesting to the extent allowed asleep Income Tax Act. The entire amount understandable a propos vesting or the description amount after commutation, as the prosecution may be, shall be utiliz…