LIC Jeevan Bharti- 1. Table-192 India

This plan is exclusively for Women encouraging them to save for SAFETY & SECURITY. This is like a  Money back plan with 15&20 years term where 20% of the S.A. is paid at the end of every 5 tears and on maturity, the balance S.A will be paid along with Reversionary Bonus and FBA if any. Apart from the above, one can opt for ABR, CIR & CDB Rider also.

Death Benefit: An amount equal to S.A under the basic plan along with Reversionary Bonuses & Final Addition Bonus if any will be payable. Survival Benefit already paid if any is not deducted.

SPECIAL FEATURES :

1: Encashment of Survival Benefits: This can be encashed on or after the due dates but before maturity. If retained with LIC, interest at 4%p.a compounded yearly will be paid to start with. This option can be exercised 6 months before the due date of Survival Benefit.

2: Flexibility to pay premiums in advance:  If next yearly premium (max. of 3 installments) is paid in advance a rebate of 5%p.a is available. This is also applicable for CIR, CDB, & ABR Rider premiums.

3: Option maturity benefit in the from of annuity to receive: this option can be exercised 6 months before maturity, to receive the maturity proceeds including bonuses in the from of an annuity.

4: Auto Cover: If 2 year premium have been paid, full death cover is available for a period of 3 year. from the date of first unpaid premium. If the death of the L.A during the Auto Cover period, then Death Benefit after deducting unpaid premiums, with interest will be payable along with vested bonuses plus FAB if any. Claims under CIR, CDB,&ABR not admissible during Auto Cover period.

5: Paid-up Value: If after at least 3 full years premium have been paid in respect of this policy, and any subsequent premium be not duly paid, this police shall not be wholly void after the expiry of three years Auto Cover period from the due date of First Unpaid premium, but shall subsist as a paid-up police for a reduced sum.

6: Gtd. Surrender Value: Eligible after the expiry of 3 police years provided the premium have been paid for at least 3 full years. The guaranteed surrender value will be 30 percent of the total amount of the premium paid excluding the premium for the first year, any premium paid towards riders, all extra premium that may have been paid and the amount of survival benefits paid earlier.

7: Special Surrender Value: will be payable if it is more favourable to the policyholder. The SSV will be discounted value of the paid-up value.

This plan offers following 3 optional Riders by payment of additional premium:

• Accident Benefit Rider _- ABR
• Critical illness Rider _ CIR
• Congenital Disability Benefit Rider – CDB

A) Accident Benefit Rider (ABR): On Accident Death of the policyholder  during the term of the police a sum equal to the Accident Benefit S.A. will become payable provided the AB cover is opted for and is in force.

B) Critical illness Benefit Rider (CIR): If opted, an amount equal to CIR S.A will be payable in case of diagnosis of defined categories of Critical illness. PWB option under CIR allowed.

C) Congenital Disability Benefit (CDB) Rider: an amount equal to 50% of the CDB Rider S.A will be payable if the life Assured given birth to a child with any of the specified Congenital Disabilities. This benefit is payable for a max. of 2 such congenitally disabled children. This benefit shall be payable only two times during the term of the rider. Premium for CDB Rider will be rs.2.50 per 1000 CDB S.A. p.a. irrespective of Age & Term.

The 6 Congenital Disabilities Covered are:

1) Spina Bifida ,  Down’s Syndrome, Tetra logy of Fallot, Oesophageal Atresia and/or Tracheo oesophageal Fistula, Anul Atresia, imperforate anus , Cleft palate with or without Claft LIP.

D) Waiting Period: A Waiting period of one year will apply from the date of commencement of risk or revival of the police to the birth of a congenitally disable child. That is, no claim is payable on birth of a child with congenital disabilities during a period of one year from the date of commencement of risk or revival.

E) CDB: Rider will not be available to females who have child/children with congenital disability/disabilities. No separate underwriting for CDB.

Related posts:

1. LIC Amulya Jeevan. Life Insurance India Table 190 General police condition Min. age at entry Max. age at entry Max. Maturity Age Minimum Term Maximum Term Modes allowed Minimum S.A S.A in multiples...