LIC Anmol Jeevan-1 (without profits). Table 164

=====Anmol Jeevan-1 (without profits). Table 164=====

W.e.f. 01-11-2003 and W.e.f. 27-02-2006 maximum SA is reduced to 24 lakhs.

General Conditions:

Min. age at entry:  18 years (completed).

Max. age at entry:  55 years (nbd).

Min. S.A.: Rs. 5 lakhs

Max. SA. (wef 27-2-2006): 24 lakhs

SA in multiples: 1 lakh

Max. Maturity age: 65 years (nbd).

Modes Allowed: Yearly/Half Yearly/Single

Min Term: 5 years.

Max Term: 25 years.

Requirements in writing:

Age proof:   Standard (NSAP-I, WR 5 lacs)

Form Number:  300

Female lives category: I/II

Dating Back (No dating back interest is charged): Allowed

Non Medical:  NA

Policy Servicing:

Term Rider Option: No.

Critical Illness Rider: No.

Policy Loan: No.

Revival: Yes.

Surrender of Policy: No.

Survival Benefits: No.

Key-Main Insurance: Yes.

Grace Period (15 days for Ylt/Hly): Yes.

Paid Up Value: No.

Sum Assured Rebate per 1000 SA: Regular premiums – Nil.

Lapsed policies can now be revived as under:

16 to 60 days       -  Arrears of premium with interest

61 days & above  -Arrears of premium with interest subject to conditions.

Benefits:

Maturity Benefits: No amount will be paid to the policy holder on maturity.

Death Benefits: SA will be paid to the nominee in case of death of the policy holder during the policy term.

Additional Information:

1. Under Key-Man Insurance, this is the only plan allowed.

2. Plan allowed to standard & sub-standard lives up to class VI EMR.

3.  It is the cheapest pure life risk plan.

4. Physical Handicapped persons (Group A) can apply for this policy with standard extra rates.

5. In case of sub standard lives, extra premium rates to be charged.

6. For higher EMR, the extra premium will be in multiples of these class I extra rates.

7. No claims concession will be applicable to this policy.

8. On the basis of special reports and medical reports (if any), proposals are considered.

9. Persons not eligible for this plan who are in hazardous occupation attracting an occupation extra of Rs 4. or more per 1000 sum Assured.

10. Under this plan, the basic sum assured will be the basis for Medical Examination and Sum Under Consideration (SUC).

11. LIC will borne the cost of Medical Examination including Special report.

12. Life Assured will borne the cost in case of revival of the policy.

Example:

Mr. Ravi takes a policy for Rs.  10 lakhs for 20 years under Anmol Jeevan-1. He will not receive any amount on survival till maturity. But, in case of death during policy term, his nominee will get Rs 10 lakhs SA

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