Life Insurance

Endowment Plan 

  1. LIC’s Single Premium Endowment Plan

    LIC’s SINGLE PREMIUM ENDOWMENT PLAN (UIN: 512N283V01)

    LIC’s Single Premium Endowment Plan is a participating non-linked savings cum protection plan, where premium is paid in lump sum at the outset of the policy. This combination provides financial protection against death during the policy term with the provision of payment of lumpsum at the end of the selected policy term in case of his/her survival. This plan also takes care of liquidity needs through its loan facility.

  2. LIC’s New Endowment Plan

    LIC’s NEW ENDOWMENT PLAN (UIN: 512N277V01)

    LIC’s New Endowment Plan is a participating non-linked plan which offers an attractive combination of protection and saving features. This combination provides financial support for the family of the deceased policyholder any time before maturity and good lump sum amount at the time of maturity for the surviving policyholders. This plan also takes care of liquidity needs through its loan facility.

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    1. Benefits:

    Death benefit:
    In case of death during the policy term provided all due premiums have been paid Death benefit, defined as sum of “Sum Assured on Death” and vested Simple Reversionary Bonuses and Final Additional bonus, if any, shall be payable. Where, “Sum Assured on Death” is defined as higher of Basic Sum Assured or 10 times of annualised premium. This death benefit shall not be less than 105% of all the premiums paid as on date of death.

    Where premiums exclude service tax, extra premium and rider premiums, if any.

    Maturity Benefit: Basic Sum Assured, along with vested simple reversionary bonuses and Final Additional bonus, if any, shall be payable in lump sum on Survival to the end of the policy term provided all due premiums have been paid.

    Participation in Profits: The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation, provided the policy is in full force.

    Final (Additional) Bonus may also be declared under the policy in the year when the policy results into a claim either by death or maturity, provided the policy has run for certain minimum term.

    2. Optional Benefit:

    LIC’s Accidental Death and Disability Benefit Rider:  LICs Accidental Death and Disability Benefit Rider is available as an optional rider by payment of additional premium. In case of accidental death, the Accident Benefit Sum Assured will be payable as lumpsum along with the death benefit under the basic plan.  In case of accidental permanent disability arising due to accident (within 180 days from the date of accident), an amount equal to the Accident Benefit Sum Assured will be paid in equal monthly installments spread over 10 years and future premiums for Accident Benefit Sum Assured as well as premiums for the portion of Basic Sum Assured which is equal to Accident Benefit Sum Assured under the policy, shall be waived.

  3. Jeevan Anand

    LIC’s New Jeevan Anand Plan is a participating non-linked plan which offers an attractive combination of protection and savings. This combination provides financial protection against death throughout the lifetime of the policyholder with the provision of payment of lumpsum at the end of the selected policy term in case of his/her survival. This plan also takes care of liquidity needs through its loan facility.

    1. Benefits:

    Death benefit :

    Provided all due premiums have been paid, the following death benefit shall be paid:

    On Death during the policy term: Death benefit, defined as sum of Sum Assured on Death and vested Simple Reversionary Bonuses and Final Additional bonus, if any, shall be payable. Where, Sum Assured on Death is defined as higher of 125% of Basic Sum Assured or 10 times of annualised premium. This death benefit shall not be less than 105% of all the premiums paid as on date of death.

    The premiums mentioned above exclude service tax, extra premium and rider premiums, if any.

    On death of policyholder at any time after policy term: Basic Sum Assured

    Benefits payable at the end of Policy Term: Basic Sum Assured, along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable in lump sum on survival to the end of the policy term provided all due premiums have been paid.

    Participation in Profits : The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation during policy term provided the policy is in full force.

    Final (Additional) Bonus may also be declared under the plan in the year when the policy results into death claim during the policy term or due for the survival benefit payment provided the policy is in full force and has run for certain minimum term.

    2. Optional Benefit:

    LIC’s Accidental Death and Disability Benefit Rider: LIC’s Accidental Death and Disability Benefit Rider is available as an optional rider by payment of additional premium during the policy term. In case of accidental death during the policy term, Accident Benefit Sum Assured will be payable as lumpsum along with the death benefit under the basic plan. In case of accidental permanent disability arising due to accident (within 180 days from the date of accident), an amount equal to the Accident Benefit Sum Assured will be paid in equal monthly installments spread over 10 years and future premiums for Accident Benefit Sum Assured as well as premiums for the portion of Basic Sum Assured which is equal to Accident Benefit Sum Assured under the policy, shall be waived.

  4. Jeevan rakshak

    LIC’s Jeevan Rakshak Plan is a participating non-linked plan which offers a combination of protection and savings. This plan provides financial support for the family in case of unfortunate death of the policyholder any time before maturity and a lump sum amount at the time of maturity for the surviving policyholder. This plan also takes care of liquidity needs through its loan facility.

    1. Benefits:

    Death benefit:
    In case of death of the policyholder during the policy term provided all due premiums have been paid, “Sum Assured on Death” shall be payable, which is the highest of

    • Basic Sum Assured or
    • 10 times of annualized premium or
    • 105% of all the premiums paid as on date of death.

    The premiums defined above exclude service tax, extra premium and Accident Benefit rider premium, if any.

    In addition to the above, Loyalty Addition, if any shall also be payable if death occurs after completion of 5th policy year.

    Maturity Benefit: Basic Sum Assured, along with Loyalty Addition, if any, shall be payable in lump sum on Survival to the end of the policy term provided all due premiums have been paid.

    Participation in Profits: Provided the policy is in full force, then depending upon the Corporation’s experience the policies under this plan will be eligible for Loyalty Addition. The Loyalty Addition, if any, is payable at such rate and on such terms as may be declared by the Corporation, on death after completion of 5th policy year or on Policyholder surviving to the maturity.

    2. Optional Benefit:

    LIC’s Accident Benefit Rider:  Accident Benefit Rider is available as an optional rider by payment of additional premium. In case of accidental death, the Accident Benefit Sum Assured will be payable as lumpsum along with the death benefit under the basic plan

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  5. Limited Premium Endowment Plan

    LIC’s Limited Premium Endowment Plan is a participating non-linked plan which offers a combination of protection and savings. This plan provides financial support for the family in case of unfortunate death of the policyholder any time before maturity and a lump sum amount at the time of maturity for the surviving policyholder. This plan also takes care of liquidity needs through its loan facility.

    1. Benefits:

    Death benefit: In case of death during the policy term, provided all due premiums have been paid, Death benefit, defined as sum of “Sum Assured on Death“, vested Simple Reversionary Bonuses and Final Additional bonus, if any, shall be payable. 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 . This death benefit shall not be less than 105% of all the premiums paid as on date of death.

    Premiums referred above exclude service tax, extra premium and rider premium(s), if any.

    Maturity Benefit: “Sum Assured on Maturity” equal to Basic Sum Assured, along with vested Simple Reversionary bonuses and Final Additional bonus, if any, shall be payable in lump sum on survival to the end of the policy term provided all due premiums have been paid.

    Participation in Profits: The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation, provided the policy is in full force.

    Final (Additional) Bonus may also be declared under the policy in the year when the policy results into a claim either by death or maturity.

    2. Optional Benefit:

    The policyholder has an option of availing the following Rider benefit(s):

    1. LIC’s Accidental Death and Disability Benefit Rider (UIN: 512B209V01)
    2. LIC’s New Term Assurance Rider (UIN: 512B210V01)

    Rider sum assured cannot exceed the basic sum assured.

    For more details on the above riders, refer to the rider brochure or contact LIC’s nearest Branch Office.

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  6. Jeevan Sangam

    LIC’s Jeevan Sangam is a participating, non-linked, savings cum protection single premium plan wherein the risk cover is a multiple of single premium. The proposer will have an option to choose the Maturity Sum Assured. The single premium payable (exclusive of service tax) shall depend on the chosen amount of Maturity Sum Assured and age of the life assured.The plan will be open for sale for a maximum period of 90 days from the date of launch.

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    BENEFITS:

    Death Benefit:

    On death during first five policy years:
    Before the date of commencement of risk: Refund of single premium excluding service tax and extra premium, if any, without interest.

     After the date of commencement of risk: Basic Sum assured i.e. 10 times the tabular single premium shall be payable.

    On death after completion of five policy years but before the stipulated Date of Maturity:

    Basic Sum assured i.e. 10 times the tabular single premium along with Loyalty Addition, if any, shall be payable.

     Maturity Benefit:

    On maturity, the Maturity Sum Assured along with Loyalty Addition, if any, shall be payable.

    Loyalty Addition:

    Depending upon the Corporation’s experience, the policy shall participate in the profits in the form of Loyalty Addition. The Loyalty Addition, if any, shall be  payable on death or surrender, provided the policy has run for atleast  five policy years, or on policyholder surviving to the maturity, at such rate and on such terms as may be declared by the Corporation.

  7. Jeevan lakshay

    LIC’s Jeevan Lakshya is a participating non-linked plan which offers a combination of protection and savings. This plan provides for Annual Income benefit that may help to fulfill the needs of the family, primarily for the benefit of children, in case of unfortunate death of Policyholder any time before maturity and a lump sum amount at the time of maturity irrespective of survival of the Policyholder. This plan also takes care of liquidity needs through its loan facility.

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    1. Benefits:

    Death Benefit:
    On death of the Life Assured before the stipulated Date of Maturity provided the policy is in full force by paying upto-date premiums, Death Benefit, defined as sum of “Sum Assured on Death”, vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable.

    Where “Sum Assured on Death” is defined as the sum of:

    1. 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.
    2. Assured Absolute Amount equal to 110% of Basic Sum Assured, which shall be payable  on due date of maturity; and

    The vested Simple Reversionary Bonuses and Final Additional Bonus, if any, included in the Death Benefit,  shall be payable on due date of maturity.

    The Death Benefit defined above shall not be less than 105% of all the premiums paid as on date of death.

    Premiums referred above exclude tax, extra premium and rider premium(s), if any.

    Maturity Benefit:
    “Sum Assured on Maturity” equal to Basic Sum Assured, along with vested Simple Reversionary bonuses and Final Additional bonus, if any, shall be payable in lump sum on survival to the end of the policy term provided all due premiums have been paid.

    Participation in Profits:
    The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation, provided the policy is in full force.

    In case of death under a policy which is in full force, the policy shall continue to participate in profits upto the date of maturity and the entire vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable on due date of maturity. Hence, the Simple Reversionary Bonus and Final Additional Bonus, if any, shall be payable under the policy on due date of maturity irrespective of survival of the Life Assured.

    In case the premiums are not duly paid (except in case of death of the Life Assured under inforce policy), the policy shall cease to participate in future profits irrespective of whether or not the policy has acquired paid up value. However, the policy shall be considered as inforce on death during the grace period.

    Final Additional Bonus shall not be payable under reduced paid-up policies.

    2. Optional Benefits:

    The policyholder has an option of availing the following Rider benefit(s):

    1. LIC’s Accidental Death and Disability Benefit Rider (UIN: 512B209V01)
    2. LIC’s New Term Assurance Rider (UIN: 512B210V01)

    Rider Sum Assured cannot exceed the Basic Sum Assured.

    For more details on the above Riders, refer to the Rider brochure or contact LIC’s nearest Branch Office.

MONEY BACK PLANS

  1. LIC’s NEW MONEY BACK PLAN – 20 YEARS

    LIC’s New Money Back Plan-20 years is a participating non-linked plan which offers an attractive combination of protection against death throughout the term of the plan along with the periodic payment on survival at specified durations during the term. This unique combination provides financial support for the family of the deceased policyholder any time before maturity and lump sum amount at the time of maturity for the surviving policyholders. This plan also takes care of liquidity needs through its loan facility.

    1. Benefits:

    Death benefit: On death during the policy term provided the policy is in full force, death benefit, defined as sum of “Sum Assured on Death” and vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable. Where, “Sum Assured on Death” is defined as higher of 125% of the Basic Sum Assured or 10 times of annualized premium. This death benefit shall not be less than 105% of the total premiums paid as on date of death.

    The premiums mentioned above exclude tax, extra premium and rider premium, if any.

    Survival Benefits: In case of Life Assured surviving to the end of the specified durations 20% of the Basic Sum Assured at the end of each of 5th, 10th & 15th policy year.

    Maturity Benefit: In case of Life Assured surviving the stipulated date of maturity, 40% of the Basic Sum Assured along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable.

          Participation in Profits: The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation, provided the policy is in full force.

    Final Additional Bonus may also be declared under the policy in the year when the policy results  into a claim either by death or maturity, provided the policy has run for certain minimum term.

    2. Optional Benefit:

    LIC’s Accidental Death and Disability Benefit Rider: LIC’s Accidental Death and Disability Benefit Rider can be opted for under an inforce policy at any time within the premium paying term by payment of additional premium and the cover will be available throughout the policy term provided the Policy is inforce for the full Sum Assured as on date of accident. In case of accidental death, the Accident Benefit Sum Assured will be payable as lumpsum along with the death benefit under the basic plan.  In case of accidental permanent disability arising due to accident (within 180 days from the date of accident), an amount equal to the Accident Benefit Sum Assured will be paid in equal monthly instalments spread over 10 years and future premiums for Accident Benefit Sum Assured as well as premiums for the portion of Basic Sum Assured which is equal to Accident Benefit Sum Assured under the policy, shall be waived.

    However, on surrender of an inforce basic policy (which has acquired Surrender Value) to which this rider is attached, a proportion of additional premium charged in respect of cover after premium paying term shall be refunded.

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  2. LIC’s NEW MONEY BACK PLAN – 25 YEARS

    LIC’s New Money Back Plan-25 years is a participating non-linked plan which offers an attractive combination of protection against death throughout the term of the plan along with the periodic payment on survival at specified durations during the term. This unique combination provides financial support for the family of the deceased policyholder any time before maturity and lump sum amount at the time of maturity for the surviving policyholders. This plan also takes care of liquidity needs through its loan facility.

    1. Benefits:

    Death benefit: On death during the policy term provided the policy is in full force, death benefit, defined as sum of “Sum Assured on Death” and vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable. Where, “Sum Assured on Death” is defined as higher of 125% of the Basic Sum Assured or 10 times of annualized premium. This death benefit shall not be less than 105% of the total premiums paid as on date of death.

    The premiums mentioned above exclude tax, extra premium and rider premium, if any.

    Survival Benefits: In case of Life Assured surviving to the end of the specified durations 15% of the Basic Sum Assured at the end of each of 5th, 10th, 15th & 20th policy year.

    Maturity Benefit: In case of Life assured surviving the stipulated date of maturity, 40% of the Basic Sum Assured along with vested Simple Reversionary Bonuses and Final Additional bonus, if any, shall be payable.

    Participation in Profits: The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation, provided the policy is in full force.
    Final Additional Bonus may also be declared under the policy in the year when the policy results into a claim either by death or maturity provided the policy has run for certain minimum term.

    2. Optional Benefit:

    LIC’s Accidental Death and Disability Benefit Rider:  LIC’s Accidental Death and Disability Benefit Rider can be opted for under an inforce policy at any time within the premium paying term by payment of additional premium and the cover will be available throughout the policy term provided the Policy is inforce for the full Sum Assured as on date of accident. In case of accidental death, the Accident Benefit Sum Assured will be payable as lumpsum along with the death benefit under the basic plan.  In case of accidental permanent disability arising due to accident (within 180 days from the date of accident), an amount equal to the Accident Benefit Sum Assured will be paid in equal monthly instalments spread over 10 years and future premiums for Accident Benefit Sum Assured as well as premiums for the portion of Basic Sum Assured which is equal to Accident Benefit Sum Assured under the policy, shall be waived.

    However, on surrender of an inforce basic policy (which has acquired Surrender Value) to which this rider is attached, a proportion of additional premium charged in respect of cover after premium paying term shall be refunded.

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  3. LIC’s NEW BIMA BACHAT

    LIC’s New Bima Bachat is a participating non-linked savings cum protection plan, where premium is paid in lump sum at the outset of the policy. It is a money-back plan which provides financial protection against death during the policy term with the provision of payment of survival benefits at specified durations during the policy term. In addition, on maturity, the single premium shall be returned along with Loyalty Addition, if any. This plan also takes care of liquidity needs through its loan facility.

    a) BENEFITS:

    Death benefit:

    On death during the first five policy years: Sum Assured.
    On death after completion of five policy years: Sum Assured along with Loyalty Addition, if any.

    b)Survival Benefits:

    Payable as given below in case of Life Assured surviving to the end of the specified durations:

    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

    c) Maturity Benefit:

    Payment of Single Premium (excluding taxes and extra premium, if any) along with Loyalty Addition, if any, in case of Life Assured surviving to the end of the policy term.

    d) Loyalty Addition

    Depending upon the Corporation’s experience the policies shall be participate in the profits and shall be eligible for Loyalty Addition. The Loyalty Addition, if any, is payable on death after completion of five policy years and on policyholder surviving to maturity, at such rate and on such terms as may be declared by the Corporation.

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  4. LIC’s NEW CHILDREN’S MONEY BACK PLAN Policy Document

    LIC’s NEW CHILDREN’S MONEY BACK PLAN (UIN: 512N296V01)

    LIC’s New Children’s Money Back Plan is a participating non-linked money back plan. This plan is specially designed to meet the educational, marriage and other needs of growing children through Survival Benefits. In addition, it provides for the risk cover on the life of child during the policy term and for number of survival benefits on surviving to the end of the specified durations.

    The plan can be purchased by any of the parent or grand parent for a child aged 0 to 12 years.

    1. Benefits:

    Death benefit:
    On death of the Life Assured before the stipulated Date of Maturity provided the policy is in full force, then On death of the Life Assured before the date of commencement of risk: Return of premium/s excluding taxes, extra premium and rider premium, if any.

    On death after the date of commencement of risk:
    Death benefit, defined as sum of “Sum Assured on Death” and vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable. Where “Sum Assured on Death” is defined as Higher of 10 times of annualized premium or Absolute amount Assured to be paid on
    Death i.e. Basic Sum Assured.

    This death benefit shall not be less than 105% of the total premiums paid as on date of death.The premiums mentioned above exclude taxes, extra premium and rider premium, if any.

    Survival Benefit: On the Life Assured surviving the policy anniversary coinciding with or immediately following the completion of ages 18 years, 20 years and 22 years, 20% of the Basic Sum Assured on each occasion shall be payable, provided the policy is in full force.

    Maturity Benefit: On the Life assured surviving the stipulated date of maturity, provided the policy is in full force, Sum Assured on Maturity ( which is 40% of the Basic Sum Assured) along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable.
    Participation in Profits: The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation, provided the policy is in full force.

    Final Additional Bonus may also be declared under the policy in the year when the policy results into a claim either by death or maturity.

    2. Optional Benefit:

    a) Option to defer the Survival Benefit(s): The policyholder will have option to take the survival benefit at any time on or after its due date but during the currency of the policy. In case of deferment of a due survival benefit (s) opted by the policyholder, the Corporation will pay increased survival benefit (s) equal to

    Survival Benefits % * Sum Assured * (Factor applicable to Survival Benefit (s))

    These factors are enclosed as Annexure I.

    This option shall be required to be intimated in writing by the policyholder six months before the due date of the Survival Benefit to the servicing branch of policy.

    b) LIC’s Premium Waiver Benefit Rider (UIN: 512B204V01): LIC’s Premium Waiver Benefit Rider is available as an optional rider on the life of proposer aged between ages 18 to 55 years by payment of additional premium. In case of death of the proposer, the premiums under the basic plan falling due after the date of death shall be waived. The cost of medical and special reports shall be borne by the proposer. This rider shall not operate in the event of death of the proposer by his own hands whether sane or insane within 12 months from the date of issuance
    of First Premium receipt or within 12 months from the date of revival.

    For more details on the above rider, refer the rider brochure or contact LIC’s nearest Branch Office.

    3. Eligibility Conditions and Other Restriction :

    c) Minimum Age at entry for Life Assured :[0] years (last birthday)d)Maximum Age at entry for Life Assured :[12] years (last birthday)e) Minimum/ Maximum Maturity Age for :[25] years (last birthday)Life Assuredf) Policy Term/Premium Paying Term :[25 – Age at entry] years

    a) Minimum Basic Sum Assured : Rs. 100,000
    b) Maximum Basic Sum Assured : No Limit
    (The Basic Sum Assured shall be in multiples of Rs. 10,000/-)
    c) Minimum Age at entry for Life Assured : [0] years (last birthday)
    d)Maximum Age at entry for Life Assured : [12] years (last birthday)
    e) Minimum/ Maximum Maturity Age for Life Assured: [25] years (last birthday)
    f) Policy Term/Premium Paying Term : [25 – Age at entry] years

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

    Date of vesting under the plan:
    The policy shall automatically vest in the Life Assured on the policy anniversary coinciding with or immediately following the completion of 18 years of age and shall on such vesting be deemed to be a contract between the Corporation and the Life Assured.

    4. Payment of Premiums:

    Premiums can be paid regularly at yearly, half-yearly, quarterly or monthly mode (through ECS  only) or through SSS mode over the term of policy

    However, a grace period of one month but not less than 30 days will be allowed for yearly, half-yearly, quarterly modes and 15 days for monthly mode of premium payment.

    5. Sample Premium Rates:

    Following are some of the sample tabular premium rates (exclusive of service tax) per Rs. 1000/- Basic Sum Assured:

    Age(in years) Premium (Rs.)
    0 44.15
    5 57.00
    10 80.60
    12 93.90

    6. Mode and High S.A. Rebates:

    Mode Rebate:

    Yearly mode - 2% of Tabular Premium
    Half-yearly mode - 1% of Tabular premium
    Quarterly, Monthly, SSS - NIL

    High Sum Assured Rebate:

    Basic Sum Assured (B.S.A) Rebate (Rs.)
    1,00,000 to 1,90,000 Nil
    2,00,000 to 4,90,000 2 per thousand B.S.A.
    5,00,000 and above 3 per thousand B.S.A.

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TERM ASSURANCE PLAN

  1. ANMOL JEEVAN II

    LIC’s Anmol Jeevan – II is a protection plan which provides financial protection to the insured’s family in case of his/her unfortunate demise.

    Benefits:

    Death Benefit: In case of unfortunate death of the Life Assured during the policy term Sum Assured shall be payable.

    Maturity Benefit: On survival to the end of the policy term, nothing shall be payable.

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  2. AMULYA JEEVAN II

    LIC’s Amulya Jeevan – II is a protection plan which provides financial protection to the insured’s family in case of his/her unfortunate demise.

    Benefits:

    Death Benefit: In case of unfortunate death of the Life Assured during the policy term Sum Assured shall be payable.

    Maturity Benefit: On survival to the end of the policy term, nothing shall be payable.

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