These are profit-linked and offer a blend of protection against death throughout the term as well as periodic payment on survival at specified durations during the term.
Launching the plan, LIC Zonal Manager A P Singh explained, ‘This unique combination provides financial support for the family in case of unfortunate death of the policyholder anytime before the policy maturity and lump sum amount at the time of maturity for the surviving policyholders. It also takes care of liquidity through its loan facility.’
The plan is suitable for those who need financial support periodically during the term of the policy for fulfilling different obligations.
“On death during the policy term, provided the policy is in full force, ‘sum assured on death’, vested simple reversionary bonuses and final additional bonus, if any, is payable. ‘Sum assured on death’ will be higher at 125 per cent of basic sum assured or 10 times annualised premium (which is excluding service tax, extra premium and rider premiums, if any), and in any case this death benefit shall not be less than 105 per cent of all the premiums paid as on date of death,” he said.
The policy can be taken from age 13 years to 50 years and the minimum sum assured is Rs 1,00,000 and in multiples of Rs 5,000 thereafter.
Launching the plan, LIC Zonal Manager A P Singh explained, ‘This unique combination provides financial support for the family in case of unfortunate death of the policyholder anytime before the policy maturity and lump sum amount at the time of maturity for the surviving policyholders. It also takes care of liquidity through its loan facility.’
The plan is suitable for those who need financial support periodically during the term of the policy for fulfilling different obligations.
“On death during the policy term, provided the policy is in full force, ‘sum assured on death’, vested simple reversionary bonuses and final additional bonus, if any, is payable. ‘Sum assured on death’ will be higher at 125 per cent of basic sum assured or 10 times annualised premium (which is excluding service tax, extra premium and rider premiums, if any), and in any case this death benefit shall not be less than 105 per cent of all the premiums paid as on date of death,” he said.
The policy can be taken from age 13 years to 50 years and the minimum sum assured is Rs 1,00,000 and in multiples of Rs 5,000 thereafter.