Lic Jeevan Vriddhi is a single premium non-linked plan which provides for payment of Guaranteed Maturity Sum Assured along with Loyalty. It is launched on 1st March 2012.

Launched w.e.f. 01-03-2012: Table 808. More in Indian News Paper

Lic Jeevan Vriddhi requirements:

  • Open for sale for the maximum period of 120 days.
  • Death Benefits: 5 times of single premium paid excluding extra premium
  • Maturity benefit: Guarantee maturity SA + Loyalty addition
  • Minimum Age:    8 years
  • Maximum Age :  50 years
  • Minimum SA :      1.50 lacs
  • Maximum SA :     No Limits
  • Minimum Premium :  Rs 30000. Thereafter in multiples of Rs 1000
  • Loan:  Available after completion of one policy year @ 10.25% p.a.
  • Surrender: Permitted after completion of one policy year minimum 90% of single premium paid
  • Service Tax:  Payable by the policy holder as per rule
  • Age Proof:  acceptable all
  • Female Category:  All
  • SUC:  4 times of single premium paid

#1) Lic Jeevan Vriddhi  incentive for higher premium:

Premium (excluding
extra premium)		 Increase in guaranteed
maturity SA
Below 50000              Nil
50000 to 99000 1.25%
100000 and above 3.00%

 

Calculator
Name of the Proposer XYZ
Age of the Proposer / LA 8
Premium (Basic Invested Amount) 100000
Total Premium (Incl Service Tax) 101545
Guaranteed Maturity Sum Assured 204413
Loyalty Addition Rate (Coloured is the rate of 10% as per plan) 246.28
Addition Loyalty addition 24628
Total Yield on Maturity 229041
IRR (Pre Tax) 8.47%
IRR (Post Tax – 10% Slab) 9.60%
IRR (Post Tax – 20% Slab) 10.88%
IRR (Post Tax – 30% Slab) 12.34%
Bank FD Yield (Post Tax – 10% Slab) 228000
Bank FD Yield (Post Tax – 20% Slab) 213778
Bank FD Yield (Post Tax – 30% Slab) 199556
Bank FD IRR (Post Tax – 10% Slab) 9.55%
Bank FD IRR (Post Tax – 20% Slab) 10.12%
Bank FD IRR (Post Tax – 30% Slab) 10.80%

lic jeevan vriddhi

==> Note:

  1. Free Risk Cover of 5 times of Base Premium.  
  2. On Death:  Sum Assured is payable whereas in Bank FD only accumulated value paid with deduction of TDS
  3. Easy Liquidity:  Loan / Surrender after 1 year
  4. Loan @ 10.25 as against > 14% in the banks.

 Lic Jeevan Vriddhi Table:

Policy Term = 10 years
Age Guaranteed Maturity
Sum Assured For Rs 1000 Single Premium
8 1984.6
9 1982.1
10 1979.15
11 1975.55
12 1972.1
13 1968.9
14 1966.35
15 1964.05
16 1961.9
17 1960
18 1958.3
19 1956.8
20 1955.5
21 1954.4
22 1953.45
23 1952.65
24 1951.85
25 1950.95
26 1949.9
27 1948.55
28 1946.85
29 1944.55
30 1941.6
31 1937.7
32 1932.8
33 1927
34 1920.4
35 1912.85
36 1904.3
37 1894.6
38 1883.65
39 1871.2
40 1857.1
41 1841.45
42 1823.95
43 1803.9
44 1781.05
45 1755.3
46 1726.55
47 1694.75
48 1659.95
49 1622.6
50 1582.25

Visit LIC INDIA for more details.

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