LIC Jeevan Shree

W.e.f. 01-09-2003

General Conditions:

Min. age at entry:  18 year (lbd).

Max. age at entry:  65 years (nbd).

Min. S.A.: Rs. 5 lakhs.

Max. SA.: Any amount.

SA in multiples: Rs. 1 lakh.

Max. Maturity age: 75 years (nbd).

Modes Allowed: ALL

Accident benefit per 1000 SA: Allowed** (with extra prem.).

Min Term: 5 years.

Max Term: 25 years.

Requirements in writing:

Female lives category: I/II/III

Non-Medical General :  Not Allowed

Non-Medical Professional:  Allowed

Non-Medical Special:  Allowed

Age proof: Std./NSAP-1/2

Form Number:  300

Dating Back @ 8%: Allowed

Risk Coverage:  SA+GA+Bonus

Actual Sum assured: Basic SA

Policy Servicing:

Term Rider Option: Yes.

Critical Illness Rider: Yes.

Policy Loan @ 9%: Yes.

Revival at 9%pa (payable HLLY): Yes.

Surrender of Policy: Yes.

Housing Loan: Yes.

Assignment: Yes.

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Term510152025
PPT1, 2 or 31, 2, 3,
4 or 6		1, 2, 3, 4, 6, 8 or 101, 2, 3, 4, 6, 8, 10 or 121, 2, 3, 4, 6, 8, 10, 12 or 16

.

SA Rebate per 1000 SA: 50 lacs & above.

0.50 for regular premium.

2.00 for single premium.

Mode Rebate:

Yly : 2%

Hly : 1%

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Benefits: With convenient premium paying terms, this plan is like an Endowment plan suitable for high earning people.

Death benefits: (a) During first 5 policy years, for each completed year, Vested GA @ Rs 50 per 1000 SA + Basic SA. (b) On death after 5 years, Accrued reversionary Bonuses declared from 6th year onwards + Basic SA + Vested GA of Rs 50 per 1000 SA per year for the first 5 years.

Maturity benefits: Reversionary Bonus (6th Year onwards) + Basic SA + Vested GA @ Rs 50 per 1000 SA (for 1st 5 years).

==>After completion of 3 policy years, the policy can be surrendered for cash.

Paid-up Value: (a) 2 full years premiums should have been paid for more than 10 years PPT. (b) Atleast 1 full year’s premium should have been paid for PPT 10 years & less.

Term Assurance Rider Option: Along with Basic SA, an amount equal to Term Assurance SA will be payable on Death during the policy term & during the PPT, premiums are payable. In addition to the premium under the basic plan, premium for this option will be payable. Std/Sub Std lives up to class III EMR & Female Lives Category I & II allowed. Handicapped Lives, pregnant females, & persons attracting occupational extra of more than Rs. 4 per 1000 SA are not allowed.

GTD Surrender Value for:

(a) Single Premium: 90% excluding all extra premiums. (b) Excluding the premium for the first year, it will be equal to 30% of the total amount of premiums paid for other modes.

Special Surrender Value: While calculating SSV, the vested GA plus Reversionary Bonus if any, will be taken into account. SSV is available after completion of 1 policy year provided premiums have been paid atleast for 1/10th of PPT sub. to a minimum of 1 full year’s premium.

Accident Benefit: Available for full term of the policy or till the policy Anniversary immediately following LA attaining 70 years of age. Maximum of Rs. 50 lakhs (under all policies taken together).

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Duration of Policy from the
Date of commencement.		SSV as percentage of Single Premium excluding extra and rider premium,
if any
Less than 1 year70%
One year to less than 2 years75%
Two years to less than 3 years.85%
After completion of 3 years.As per SSV factor applicable to Endowment Table

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