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Product Information
Founded in 1956, Life Insurance Corporation of India (LIC) is the largest life insurance company in the country with a total income of Rs. 492626.60 crore and total assets worth Rs. 2572028.34 Cr It’s fully owned by the Government of India & is also the county’s largest investor.
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Plan No. 947
This plan has been designed especially for High Net Worth Individuals having Rs.1 Crore as minimum Life Cover
It guarantees the risk cover of 125% of Sum Assured from Day 1 without any extra cost
It offers the guaranteed bonus ranging from 5% to 5.5% of Sum Assured along with variable loyalty additions
It also offers the regular guaranteed pay-outs to the policy-holders
It has an in-built benefit of covering 15 critical illnesses
This plan has an option of choosing the Accidental Life cover, Disability Benefit & Critical illness cover.
This plan also has the option of taking the Maturity proceeds in instalments as the policy-holder can choose the no of year as 5, 10 or 15.
In a similar way, the policyholder also has the option of choosing the death benefit in installments
LIC also offer the discount in the premium in case the mode of payment is Yearly.
The loan is also available to the policyholder after the completion of 1 year of the policy
Settlement option avilable on Maturity and Death in Installments of 5,10 or 15 Years
How Does This Policy Work
Sample illustration
Eligibility Criteria
Min.
Max.
Age
18 Years (Completed)
55 Years for Payment Term = 14 - 51 Years for Payment Term = 16
48 Years for Payment Term = 18 - 45 Years for payment term = 20
Policy Term
14, 16, 18, & 20 Years
Premium Payment Term
Policy Term 4 Years
Basic Sum Assured
Rs. 1 Corer
No Limit
Maximum Maturity Age
69 Years of Term = 14 - 67 Years of Term = 16 66 Years of Term = 18 - 65 Years of Term = 20
Rider
LIC’s NEW CRITICAL ILLNESS BENEFIT RIDER(CIR)
Rider
LIC's ACCIDENTAL DEATH AND DISABILITY BENEFIT RIDER
Rider
LlC's ACCIDENT BENEFIT RIDER
Rider
LIC's NEW TERM ASSURANCE RIDER (TR)
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