It is a non linked, with profits, limited premium payment money back life insurance plan with minimum Basic Sum Assured of Rs. 10 Lakh especially designed for targeted High Net-worth Individuals. This plan provides lump sum financial support to family in case of death but also provides payment in case of diagnosis of specified critical illness.
It gives you lump sum amount in case of death during policy term and incase of survival, survival benefit amount is payable on Term – 4 Years, Term – 2 Years and on completion of Term.
In case of death of Proposer wherein life assured is minor, all future premiums will be borne by LIC.
Policy is eligible for guaranteed bonus at the rate of Rs. 50.00 per thousand per year during first 5 policy term and thereafter at the rate of Rs. 55.00 per thousand per year.
Standalone Additional Accident Benefit Maximum of Rs. 1,00,00,00/- is allowed other than regular accidental benefit under other policies.
Eligibility Criteria
Minimum Age at Entry | 8 Years Completed |
Minimum Basic Sum Assured | Rs. 10,00,000 |
Maximum Basic Sum Assured | No Limit |
Term | 14, 16, 18, 20, 24 and 28 Years |
Premium Paying Term | (Policy Term - 4) Years |
Maximum Age at Entry
Term | Age |
14 | 55 |
16 | 53 |
18 | 51 |
20 | 49 |
24 | 45 |
28 | 41 |
Premium Modes
Yearly, Half-Yearly, Quarterly and Monthly (NACH only) or through salary deductions (SSS).
Riders Available
LIC’s Premium Waiver Benefit Rider
Term / PPT | Survival Benefits | Maturity Benefits |
14/10 | 30% of Basic Sum Assured after 10th and 12th years | 40% of Basic Sum Assured |
16/12 | 35% of Basic Sum Assured after 12th and 14th years | 30% of Basic Sum Assured |
18/14 | 40% of Basic Sum Assured after 14th and 16th years | 20% of Basic Sum Assured |
20/16 | 45% of Basic Sum Assured after 16th and 18th years | 10% of Basic Sum Assured |
24/20 | 45% of Basic Sum Assured after 20th and 22nd years | 10% of Basic Sum Assured |
28/24 | 45% of Basic Sum Assured after 24th and 26th years | 10% of Basic Sum Assured |
Maturity Benefit is payable alongwith Guaranteed Additions and Loyalty Addition.
Guaranteed Addition
Rs. 50 per 1000 of Basic Sum Assured for the first 5 years
Rs. 55 per 1000 of Basic Sum Assured for the Subsequent Years till the end of Premium Paying Term
