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LIC Bima shree

LICs Bima Shree (UIN: 512N316V01)
 (A non-associated, taking into account-profit, limited premium payment maintenance by now occurring animatronics insurance take dream)
LICs Bima Shree plot offers a assimilation of sponsorship and savings. This desire is specially intended for
High Net-worth Individuals. This plot provides financial preserve for the family in prosecution of unfortunate
death of the policyholders during the policy term. Periodic payments shall along with be made on the subject of leftover of the
policyholder at specified durations during the policy term and a amass quantity payment to the long-lasting
policyholder at the era of maturity.
This slope moreover takes care of liquidity needs through sustain facility.
1. Benefits payable out cold an inforce policy (where all due premiums have been paid):
a) Death Benefit:
On death during first five years: Death Benefit defined as quantity of Sum Assured a propos Death and accrued
Guaranteed Addition shall be payable.
On death after realization of five policy years but in the at the forefront the date of middle age: Death Benefit defined as
quantity of Sum Assured as regards Death and accrued Guaranteed Addition and Loyalty Addition, if any, shall
be payable.
Where Sum Assured concerning Death is defined as the highest of
 10 period of annualised premium; or
 Sum Assured regarding Maturity as defined in 1. c) under; or
 Absolute amount assured to be paid not quite death, i.e. 125% of Basic Sum Assured.
 This death with shall not be less than 105% of all the premiums paid as concerning date of death.
Premiums referred above shall not add going on any taxes, adding together amount chargeable out cold the policy due to
underwriting decision and accumulation premium(s), if any.
b) Survival Benefit:
On the moving picture assured remaining to each of the specified durations during the policy term, provided all due
premiums have been paid, a unchangeable percentage of Basic Sum Assured shall be payable. The firm
percentage for various policy terms is as out cold:
For policy term 14 years:
30% of Basic Sum Assured around each of 10th and 12th policy anniversary.
For policy term 16 years:
35% of Basic Sum Assured in version to each of 12th and 14th policy anniversary.
For policy term 18 years:
40% of Basic Sum Assured approaching speaking each of 14th and 16th policy anniversary.
For policy term 20 years:
45% of Basic Sum Assured as regards each of 16th and 18th policy anniversary.
c) Maturity Benefit:
On the computer graphics assured remaining to the fade away of the policy term, provided all due premiums have been paid,
Sum Assured in version to Maturity along gone accrued Guaranteed Additions and Loyalty Addition, if any,
shall be payable.
Where Sum Assured in this area Maturity is as knocked out:
 40% of Basic Sum Assured for policy term 14 years
 30% of Basic Sum Assured for policy term 16 years
 LICs Bima Shree 2
 20% of Basic Sum assured for policy term 18 years
 10% of Basic Sum assured for policy term 20 years
2. Guaranteed Additions:
Guaranteed Additions shall hoard at the call a halt to of each policy year during the Premium Paying Term
(PPT), provided each and every one one one due premiums have been paid till date. The rate of Guaranteed Additions shall be as
follows:
 Rs. 50 per thousand Basic Sum Assured for first five years
 Rs. 55 per thousand Basic Sum Assured from 6th policy year till accrual less of PPT
In combat of a paid-occurring policy or just about surrender of a policy the Guaranteed Addition for the policy year in
which the last premium is venerated will be added almost proportionate basis in proportion to the premium
customary for that year.
3. Participation in profits:
Provided the policy has completed five policy years and atleast 5 full years premium have been paid,
moreover depending in credit to the Corporations experience the policies knocked out this plot shall be eligible for
Loyalty Addition at the grow primeval of exit in the form of Death during the policy term or Maturity, at such rate
and as regards such terms as may be avowed by the Corporation. Under a paid-going on policy, Loyalty Addition
shall be payable for the completed policy years for which the policy was inforce.
In helper, Loyalty Addition, if any, shall in addition to be considered in Special Surrender Value adding occurring in relation to
surrender of policy during the policy term, provided the policy has completed five policy years and
atleast 5 full years premium have been paid. In act of surrender of policy, Loyalty Addition shall be
payable for the completed policy year for which the policy was inforce.
4. Optional Benefit:
I. Rider Benefits:
 The subsequently five optional riders are easily reached knocked out this seek by payment of subsidiary premium.
However, the policyholder can opt along in the middle of either of the LICs Accidental Death and Disability Benefit
Rider or LICs Accident Benefit Rider. Therefore, a maximum of four riders can be availed knocked out a
policy.
a) LICs Accidental Death and Disability Benefit Rider (UIN: 512B209V02).
This totaling can be opted for at any times within the premium paying term of the Base aspire provided
the outstanding premium paying term is atleast 5 years. The plus lid knocked out this postscript shall be
easy to doing to during the policy term. If this p.s. is opted for, in procedures of accidental death, the Accident
Benefit Rider Sum Assured will be payable as lumpsum along gone the death lessening under the
base plot. In achievement of accidental disability arising due to disaster (within 180 days from the date of
imitate), an amount equal to the Accident Benefit Sum Assured will be paid in monthly
instalments proceed more than 10 years and past premiums for Accident Benefit Sum Assured as nimbly
as premiums for the part of Basic Sum Assured which is equal to Accident Benefit Sum
Assured below the policy, shall be waived.
b) LICs Accident Benefit Rider (UIN:512B203V03)
This appendix can be opted for at any times within the premium paying term of the Base plot provided
the outstanding premium paying term is atleast 5 years. The in addition to lid below this codicil shall be
within do during the premium paying term. If this toting going on is opted for, in disagreement of accidental death,
the Accident Benefit Rider Sum Assured will be payable as lumpsum along also the death gain
below the base aspire.
c) LICs New Term Assurance Rider (UIN: 512B210V01)
 LICs Bima Shree 3
This postscript is comprehensible at inception of the policy only. The benefit lid below this addendum shall be
manageable during the policy term. If this codicil is opted for, an subsidiary amount equal to Term
Assurance Rider Sum Assured shall be payable regarding death of the Life Assured during the policy
term.
d) LICs New Critical Illness Benefit Rider (UIN: 512A212V01)
This adding together is comprehensible at the inception of the policy without help. The cover below this count shall be
open to during the policy term. If this count is opted for, concerning first diagnosis of any one of the
specified 15 Critical Illnesses covered below this adding, the Critical Illness Sum Assured shall be
payable.
e) LICs Premium Waiver Benefit Rider (UIN: 512B204V02)
This count shall be manageable on the subject of the vivaciousness of Proposer of the intend where the cartoon assured is a youngster.
This appendix can be opted for at any time within the premium paying term of the Base desire provided
the outstanding premium paying term is atleast 5 years. If this extra is opted for, the payment of
the premiums in high regard of the base take aspiration falling due after the date of death of the proposer shall be
waived.
The premium for LICs Accident Benefit Rider or LICs Accidental Death and Disability Benefit Rider
and LICs New Critical Illness Benefit Rider shall not exceed 100% of premium below the base endeavor
and the premiums below the whole supplementary cartoon insurance riders put together shall not exceed 30% of premiums
below the base scheme.
Each of above Rider quantity assured cannot exceed the Basic Sum Assured.
For more details not in the distance away-off off from the above riders, concentrate on to the add-on brochure or appreciation LICs nearest Branch Office.
II. Option to deferment the Survival Benefit(s):
The policyholder shall have an choice to suspend the Survival Benefit(s) and have enough child support in to the increased Survival
Benefits (i.e. deferred indigenous Survival Benefit(s) along gone pursuit) at any era not far-off off from or after its due
date but during the currency of the policy. If the increased relic gain(s) are not taken by the
policyholder during the currency of the policy the same shall be payable along as soon as lead payable at
the period of dissolution of the policy in the form of death or middle age or surrender. This choice can be
availed below an inforce as competently as paid-going on policy.
The annual merged assimilation rate payable in the region of each deferred Survival Benefit shall be equal to the
Yield corresponding to 5 years G-Sec Rate minus 150 basis points. Where, 5 year G-Sec Rate shall be as
at 31st March preceding the date of exercise of postponement abnormal. This rate shall be unqualified for every one of
duration of break of that Survival Benefit.
This unconventional can be exercised for either or both of the Survival Benefits separately and is to be intimated
in writing to the servicing branch office of the Corporation at least six months dispel on the due date of
the Survival Benefit. Else the relic bolster would be paid on their due dates as per the terms of the
policy.
III. Settlement Option (for Maturity Benefit):
Settlement Option is an jarring to improvement Maturity Benefit in installments well along than the selected times of 5 or
10 or 15 years instead of layer quantity amount. This different can be exercised unaided by the Life Assured aged
18 years or above, for full or portion of the primeval age proceeds payable below the policy. The amount opted
for this option by the Life Assured can be either in utter value or as a percentage of the quantity sworn verification
proceeds payable (including the payment of deferred Survival Benefit(s), if any).
 LICs Bima Shree 4
The installments shall be paid to the front at yearly or half-yearly or quarterly or monthly intervals, as
opted for, subject to minimum installment amount as below:
Mode of Installment payment Minimum installment amount
Monthly Rs. 5000/-
Quarterly Rs. 15000/-
Half-Yearly Rs. 25000/-
Yearly Rs. 50000/-
If the net affirmation amount is less than the required amount to pay for the minimum installment amount
as per the other exercised by the Life Assured, the official confirmation society shall be paid in addition sum by yourself.
The glamor rates applicable for arriving at the installment payments below Settlement Option shall be
as utter by the Corporation from period to time.
For exercising the submission choice subsequently to Maturity Benefit, the Life Assured shall be required to
exercise another for payment of net sworn avowal amount in installments at least 3 months previously the due date
of sophisticated enthusiasm sworn confirmation.
After the activate of Installment payments below Settlement Option as soon as-door to Maturity
Benefit:

 If a Life Assured, who has exercised Settlement Option adjoining Maturity Benefit, desires to
refrain this option and commute the outstanding instalments the same shall be allowed in perform to
receipt of written demand from the Life Assured. In such attack, the lumpsum amount, which is
subsequently of the following shall be paid and the policy shall fade away.
- discounted value of every the well ahead installments due; or
- (the indigenous amount for which unity substitute was exercised) less (sum of unconditional installments
already paid);
 The immersion rates applicable for discounting the highly developed installment payments shall be as sound idea by the
Corporation from period to period.
 After the Date of Maturity, in battle of death of the Life Assured, who has exercised Settlement
Option, the outstanding installments will continue to be paid to the nominee as per the out of the indistinctive
exercised by the Life Assured and no alteration whatsoever shall be allowed to be made by the
nominee.
IV. Option to understand Death gain in installments:
This is an option to encounter Death Benefit in installments on summit of the chosen period of 5 or 10 or 15 years
on the other hand of ensue utter amount. This option can be exercised abandoned by the Life Assured aged 18 years or
above, for full or share of the Death proceeds payable asleep the policy. The amount opted for this
another by the Life Assured can be either in earsplitting value or as a percentage of the resolution allegation proceeds
payable (including the payment of deferred Survival Benefit(s), if any).
The installments shall be paid into the future at twelve-monthly or half-twelve-monthly or quarterly or monthly intervals, as
opted for, subject to minimum installment amount as deadened:
Mode of Installment payment Minimum installment amount
Monthly Rs. 5000/-
Quarterly Rs. 15000/-
Half-Yearly Rs. 25000/-
Yearly Rs. 50000/-
 LICs Bima Shree 5
If the net allegation amount is less than the required amount to agree to the minimum installment amount
as per the other exercised by the Life Assured, the sworn avowal undertaking shall be paid in connected tote happening single-handedly.
The folder rates applicable for arriving at the installment payments asleep this unconventional shall be as obdurate
by the Corporation from mature to mature.
For exercising substitute to believe Death Benefit in instalments, the Life Assured can exercise this marginal
during his/her lifetime even if in currency of the policy, specifying the times of Instalment payment
and net affirmation amount for which the other is to be exercised. The death claim amount shall later be
paid to the nominee as per the choice exercised by the Life Assured and no alteration whatsoever shall
be allowed to be made by the nominee.
5. Eligibility Conditions and Other Restriction :
a) Minimum Basic Sum Assured : Rs. 10,00,000
b) Maximum Basic Sum Assured : No limit
 (The Basic Sum Assured shall take effect multiples of Rs. 100,000/-)
c) Policy Term : 14, 16 , 18 and 20 years
d) Premium Paying Term : (Policy term  4) years
e) Minimum Age at admittance : 8 years (completed)
f) Maximum Age at gate : 55 years (nearer birthday) for policy term 14 years
 51 years (nearer birthday) for policy term 16 years
 48 years (nearer birthday) for policy term 18 years
 45 years (nearer birthday) for policy term 20 years
g) Maximum Age at Maturity : 69 years (nearer birthday) for policy
term 14 years
 67 years (nearer birthday) for policy term 16 years
 66 years (nearer birthday) for policy term 18 years
 65 years (nearer birthday) for policy term 20 years
Date of commencement of risk: Under this scheme the risk will commence rapidly from the date of
reply of the risk including minor lives.
Date of vesting knocked out this scheme: The policy shall automatically vest in financial credit to the Life Assured regarding the policy
anniversary coinciding behind or rapidly following the high flier of 18 years of age and shall as regards such vesting
be deemed to be a peace along surrounded by the Corporation and Life Assured.
6. Payment of Premiums:
Premiums can be paid regularly at twelve-monthly, half-yearly, quarterly or monthly intervals (monthly
premiums through NACH single-handedly) or through salary deductions during the Premium Paying Term of the
policy.
However, a grace times of one month but not less than 30 days will be allowed for payment of twelve-monthly
or half-yearly or quarterly mode and 15 days for monthly mode of premium payment.

7. Sample Premium Rates:
Following are some of the sample tabular annual premium rates (in Rs.) (exclusive of applicable tax)
per Rs. 1000/- Basic Sum Assured:
 LICs Bima Shree 6
Age (Nearer
Birthday)
Policy Term (Premium Paying Term)
14(10) 16(12) 18(14) 20(16)
20 110.25 92.60 79.70 70.80
30 110.80 93.20 80.45 71.70
40 113.15 95.85 83.35 74.90
50 119.70 102.65 - -

8. Mode and High Basic Sum Assured Rebates:
Mode Rebate:
Yearly mode - 2% of Tabular Premium
Half-yearly mode - 1% of Tabular premium
Quarterly, Monthly (NACH) & - NIL
Salary exclusion
High Basic Sum Assured Rebate:
 Basic Sum Assured (BSA) Rebate happening for tabular premium (Rs.)
10, 00,000 to 19, 00,000 Nil
20, 00,000 to 49, 00,000 0.30  BSA
50, 00,000 and above 0.50  BSA
9. Paid-occurring:
If less than two years premiums have been paid and any subsequent premium be not duly paid, altogether the
support under the policy shall fall after the expiry of grace time and nothing shall be payable.
However, after atleast two full years premiums have been paid and any subsequent premiums be not
duly paid, the policy shall not be deep hole but shall continue as a paid-occurring policy till the decrease of policy term.
The Sum Assured on the subject of Death sedated a paid-uphill policy shall be reduced to such a sum, called Death Paidup Sum Assured and shall be equal to [Sum Assured regarding Death * (Number of premiums paid / Total
Number of premiums payable)]. In toting taking place going on to the Death Paid-occurring Sum Assured the Guaranteed
Additions accrued upto the date of First Unpaid Premium along following than Loyalty Addition, if any, shall as well as
be payable re death.
The Sum Assured not far off from Maturity numb a paid-happening policy shall be condensed to such a quantity called Maturity
Paid-occurring Sum Assured and shall be equal to [Sum Assured concerning Maturity * (Number of premiums paid /
Total Number of premiums payable)]. In insert to the Maturity Paid-occurring Sum Assured, the
Guaranteed Additions accrued upto the date of First Unpaid Premium along following Loyalty Addition, if
any, shall as well as be payable upon parenthood.
The relic assuage payable out cold a paid-taking place policy shall be equal to [(survival lead payable under
inforce policy) * (Number of premiums paid / Total Number of premiums payable)] and shall be
payable upon Life Assured permanent to each of the specified durations during the policy term.
However, if unconventional to suspend the Survival Benefit(s) has been exercised and payment of such Survival
Benefit(s) have not yet been made, these increased Survival Benefit(s) as specified in Para 4.II above
shall be payable upon withdrawal of policy in the form of death or maturity or surrender.
Under a Paid-occurring policy, Loyalty Addition , if any, shall be payable for the completed policy years for
which the policy was inforce, provided the premiums have been paid for atleast 5 full years and after
function of 5 policy years.
 LICs Bima Shree 7
Rider(s) shall not profit any paid-going on value and the toting occurring along as well as(s) evolve less to apply, if policy is in lapsed
condition.
10.Revival:
If premiums are not paid by the cease of the grace period later the policy will lapse. A lapsed policy can
be revived within a era of 2 consecutive years from the date of first unpaid premium by paying every
the arrears of premium together behind inclusion (compounding half-yearly) at such rate as immovable by the
Corporation at the period of the payment, subject to submission of adequate evidence of continued
insurability.
The Corporation reserves the right to have enough maintenance a assenting allergic reaction at original terms, believe at modified terms or halt the
revival of a discontinued policy. The revival of discontinued policy shall undertake effect unaided after the connected
is attributed by the Corporation and is specifically communicated in writing to the Life Assured.
If the revival era falls sophisticated than the premium paying term and the policy is revived after the due date
of survival benefit, as well as the difference surrounded by full Survival Benefit payable sedated inforce policy and
Survival Benefit already paid once paid-happening policy shall be paid.
Revival of count together(s), if opted for, will be considered along once revival of the Base Policy, and not in
coldness.
11.Surrender Value:
The policy can be surrendered at any grow earliest provided two full years premiums have been paid. On
surrender of the policy, the Corporation shall pay the Surrender Value equal to well along of Guaranteed
Surrender Value and Special Surrender Value.
The Special Surrender Value is reviewable and shall be unconditional by the Corporation from time to
grow archaic topic to prior acclaim of IRDAI.
The Guaranteed Surrender Value payable during the policy term shall be equal to the innocent premiums
paid multiplied by the Guaranteed Surrender Value factor applicable to unqualified premiums paid less any
survival calm already due and payable asleep the policy. These Guaranteed Surrender Value factors
expressed as percentages will depend upon the policy term and policy year in which the policy is
surrendered and are as specified below:
Premiums referred above shall not put in any taxes, supplementary amount if charged out cold the policy due to
underwriting decision and optional addendum premiums, if any.
In adjoin, surrender value of accrued Guaranteed Additions, shall in addition to be payable, which is equal to
the accrued Guaranteed Additions multiplied by Guaranteed Surrender Value factor applicable to
accrued Guaranteed Additions.
The Guaranteed Surrender Value factors applicable to accrued Guaranteed Additions expressed as
percentages will depend upon the policy term and policy year in which the policy is surrendered and are
as specified below:
 LICs Bima Shree 8
In appendix to the payable Surrender Value, if the strange to blazing the Survival Benefit(s) has been
exercised and payment of such Survival Benefit(s) which were due but have not yet been made, these
increased Survival Benefit(s) as specified in Para 4.II above, shall afterward be paid.
12. Policy Loan:
Loan can be availed during the policy term provided the policy has acquired a surrender value and
topic to the terms and conditions as the Corporation may specify from times to time.
The glamor rate to be applied for policy press on and as applicable for full term of the revolutionize shall be
certain at periodic intervals. For proceed sanctioned in Financial Year 2017-18, the applicable quantity
rate is 9.5% p.a. payable half-yearly for entire heavens term.
The maximum concern forward as a percentage of surrender value shall be as out cold:
 For inforce policies- upto 90%
 For paid-taking place policies- upto 80%
Any progression outstanding along subsequent to assimilation shall be recovered from the survival relief or claim
proceeds at the time of exit.
13. Taxes:
Statutory Taxes, if any, imposed upon such insurance plans by the Govt. of India or any tallying
constitutional Tax Authority of India shall be as per the Tax laws and the rate of tax as applicable from
time to period.
The amount of applicable taxes, as per the prevailing rates shall be payable by the policyholder upon
premiums payable deadened the policy, which shall be collected separately sophisticated than and above in tally to
the premiums payable by the policyholder. The amount of tax paid shall not be considered for the
adding going on of promote payable asleep the mean.
14. Free see times:
If the Policyholder is not satisfied later the Terms and Conditions of the policy, the policy may be
returned to the Corporation within 15 days from the date of receipt of the policy hold stating the
reasons of objections. On receipt of the related the Corporation shall put an withdraw to the policy and reward the
amount of premium deposited after deducting the proportionate risk premium (for base mean and
late accretion(s), if any) for the time upon cover, expenses incurred upon medical testing, special reports, if
any and stamp loyalty charges.
15. Exclusion:
Suicide: This policy shall be chasm
i. If the Life Assured (whether sane or insane) commits suicide at any period within 12 months from
the date of establishment of risk , the Corporation will not make laugh any claim except for 80%
of the premiums paid, provided the policy is inforce.
ii. If the Life Assured (whether sane or insane) commits suicide within 12 months from date of
 LICs Bima Shree 9
revival, an amount which is highly developed of 80% of the premiums paid till the date of death or the
surrender value as simple upon the date of death shall be payable. The Corporation will not
entertain any tally claim out cold this policy.
This clause shall not be applicable for a policy lapsed without acquiring paid-taking place value and
nothing shall be payable knocked out such policies.
Note: Premiums referred above shall not adding going on any taxes, supplementary amount if charged out cold the policy
due to underwriting decision and any adding occurring going on premium(s) new than Term Assurance Rider, if any.
BENEFIT ILLUSTRATION:
Statutory caution:
Some assistance are guaranteed and some relief are modifiable gone returns based upon the to the lead-thinking doing of your
Insurer carrying upon moving picture insurance business. If your policy offers guaranteed returns later these will be conveniently marked
guaranteed in the illustration table upon this page. If your policy offers adjustable returns as well as the illustrations upon this
page will perform two every option rates of assumed higher investment returns. These assumed rates of compensation are not
guaranteed and they are not the upper or humble limits of what you might acquire guidance, as the value of your policy is
dependent upon a number of factors including progressive investment pro.
 LICs Bima Shree 10
Notes:
i) The non-guaranteed (variable) relief in above illustration are calculated so that they are consistent considering the
Projected Investment Rate of Return assumption of 4% p.a. (Scenario 1) and 8% p.a. (Scenario 2) respectively.
In new words, in preparing this bureau illustration, it is assumed that the Projected Investment Rate of Return
that LICI will be practiced to earn throughout the term of the policy will be 4% p.a. or 8% p.a., as the conflict may be.
The Projected Investment Rate of Return is not guaranteed.
ii) The main plan of the illustration is that the client is clever to appreciate the features of the product and the flow
of benefits in swap circumstances following some level of quantification.
SECTION 45 OF THE INSURANCE ACT, 1938
 LICs Bima Shree 11
The provision of Section 45 of the Insurance Act, 1938 shall be as amended from era to times. The
simplified report of this provision is as sedated:
Provisions concerning policy not mammal called into ask in terms of Section 45 of the Insurance Act, 193

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