LIC Jeevan Ankur is the Children plan. Plan allowed to parents who have children aged up to 17 years. Risk cover for parent and child is the nominee. Date of Launch 23-01-2012 UIN 512N267V01. Source

Table 807 Benefits:

A) Death Benefit:

  1. On death of life assured: Basic Sum Assured on Death + Income Benefit of 10% of basic sum assured payable each year till maturity + basic sum assured & loyalty addition on maturity – All Benefits payable to Nominee Child / Appointee.
  2. On death of child when life assured is alive: Life assured has opted to appoint another child / person as nominee with all policy benefits payable to the new nominee in case of death of life assured.
  3. On the death of a nominee after death of life assured: Policy will continue with all benefits payable to the legal heirs of life assured.

B) Maturity Benefit:

  1. Basic Sum Assured + Loyalty Additions.
  2. Accident Benefit / Critical Illness Rider / PWB for critical Illness Rider can be opted.
  3. No loan or assignment allowed
lic jeevan ankur

Eligibility Conditions and Features:

For Basic Plan:

  • Minimum age at entry for life assured: 18 years (completed)
  • Maximum age at entry for life assured: 50 years (nearest birthday)
  • Minimum age at entry for Child: 0 years (last birthday)
  • Maximum age at entry for child: 17 years (last birthday)
  • Minimum Term: Higher of (18- age of child, 8) years
  • Maximum Term: (25 – age of child) years.
  • Minimum Basic Sum assured: Rs 100000
  • Maximum Basic Sum assured: no limit.
  1. The basic sum assured shall be in multiples of Rs 5000.
  2. Age at entry for the policy holder is to be taken as an age nearest birthday except for the minimum age at entry, i.e. 18 years.

#) For Accident Benefit Rider:

  1. Minimum Entry Age: 18 years (completed)
  2. Maximum Entry Age: 50 years (nearest Birthday)
  3. Maximum Maturity Age: 70 years (nearest Birthday)
  4. Minimum Accident Benefit Sum Assured: Rs 25000
  5. Maximum Accident Benefit Sum Assured: An Amount equal to the basic Sum Assured subject to the maximum of Rs 5 million overall limit.

The accident benefit Sum Assured shall be in multiples of Rs 5000

#) For the Critical Illness Rider:

  1. Minimum Entry Age: 18 years (completed)
  2. Maximum Entry Age: 50 years (nearest Birthday)
  3. Minimum Policy Term: 10 years for Regular Premium & 8 years for single premium
  4. Maximum Maturity Age: 60 years (nearest Birthday)
  5. Minimum Critical Illness Rider Sum Assured: Rs 50000
  6. Maximum Critical Illness Rider Sum Assured: An amount equal to the Basic Sum Assured subject to the maximum of Rs 5 lakhs overall limit taking all critical illness riders under all existing policies of the life assured and the critical illness rider option under the new proposal into consideration.

The critical illness rider sum assured shall be in multiples of Rs 10000

#) Mode of Premium Payment:

Single Premium / Yearly / Half Yearly / Quaterly / SSS/ Monthly ECS.

#) Rebates:

  1. Mode Rebate: Rebates are available at the following rates
  2. Yearly Mode: 2% of tabular premium
  3. Half Yearly mode: 1% of tabular premium
  4. Quarterly and SSS mode: NIL

High Sum Assured Rebate:

#) Single premium Sum Assured Rebate (Rs):

  1. 100000 to 195000: NIL
  2. 200000 to 495000 : 4% SA
  3. 500000 to above: 6% SA

#) Regular Premium Sum Assured Rebate (Rs)

  • 100000 to 195000: NIL
  • 200000 to 495000 : 2% SA
  • 500000 to above: 3% SA

#) Term 1st year, 2nd and 3rd year subsequent years.

  • 8 to 9 years 10%, 5%, 5%
  • 10 to 14 years 20%, 7.5%, 5%
  • 15 years and above 25%, 7.5%, 5%