Lic Jeevan Pramukh

W.e.f. 01-11-2004

General Conditions:

  1. Min. age at entry:  18 years completed.
  2. Max. age at entry:  65 years (nbd).
  3. Min. S.A.: Rs. 10 lakhs.
  4. Max. SA.: Any Amount.
  5. SA in multiples: Rs. 1 lakh.
  6. Max. Maturity age: 75 years (nbd).
  7. Modes Allowed: Yly/Hly/Qly/Mly
  8. Min Term: 5 years.
  9. Max Term: 25 years.
  10. Premium Paying Terms: 3, 4 or 5 years.

Requirements in writing:

  1. Female lives category: I/II/III
  2. Non-Medical General: Not Allowed.
  3. Non-Medical Professional:  Not Allowed.
  4. Non-Medical Special:  Allowed
  5. Risk Coverage:  SA + GA + Bonus
  6. Age proof: Standard
  7. Form Number:  300/340
  8. Dating Back @ 8%: Allowed
  9. Actual Sum assured: Basic SA.

Policy Servicing:

  1. Policy Loan @ 9%: Yes.
  2. Revival: Yes.
  3. Surrender of Policy: Yes.
  4. Housing Loan: Yes.
  5. Assignment: Yes.
  6. Key-Man Insurance: No
Policy term 5,10,15,20,25
PPT 3, 4 or 5.
Mode Rebate/Extra*
Yly – 2% Hly – 1%
Qly – Nil *Mly -+ 5%
SA Rebate per 1000 SA
Upto 50 Lacs Nil
Above 50 lacs Rs 0.50


Maturity: From 6th year onwards, Terminal Bonus + Simple Reversionary Bonus, if any, is payable + Accrued GA at Rs 50 per 1000 SA for first 5 years + Basic SA.

Death Benefits: During the term of the policy, on death of LA, an amount equal to SA along with accrued GA and Terminal Bonus and Vested simple Reversionary Bonuses, if any, shall be payable provided the policy is in full force.

Claim Concession: The claim becomes payable if the death occurs within 6 months from the due date of the first  Unpaid premium, and if the premiums have been paid  for atleast first three years, then the claim becomes payable.

Surrender Value: After more than 1 year’s premium have been paid, the policy can be surrendered for cash.

Special Surrender Value: From the date of commencement, it is available after the completion of 3 years. Both in cases of Special Surrender value and GA, the cash value of any accrued GA and vested Simple Reversionary Bonuses, if any will also be payable after completion of 3 years.

The GTD. Surrender Value: Excluding the premiums for the first year and extra premiums if any, it will be equal to 30% of the total amount of premiums paid.

Cooling-Off Period: Policy holder can return the policy to the corporation within 15 days if he/she is not satisfied with the “Terms and Conditions” of the policy.

Paid-up Value: It shall be payable on maturity or earlier death of the Life Assured, the Paid-up value along with vested Simple Reversionary Bonuses and GA if any.

Features: It is suitable for high net worth people with profit plan like an Endowment Assurance plan with convenient premium paying term of 3, 4, and 5 years.