LIC Bonus Rates 2017-18 Details

The rates of Simple Reversionary Bonus, and Interim Bonus declared in respect of participating policies issued by the LIC OF INDIA.

Simple Reversionary and Interim Bonus Rates

Group	Plan	Term	Reversionary Bonus Rate %o Sum Assured (**)	Interim Bonus Rate %o Sum Assured (**)
		(*)
1	Whole Life type (Plans 2, 5, 6, 8, 10, 28 (Before Conversion), 35, 36, 37, 38, 49,77,78, 85 & 86)		70	70

Group	Plan	Term	Reversionary Bonus Rate %o Sum Assured (**)	Interim Bonus Rate %o Sum Assured (**)
		(*)
2	Endowment type (Plans 14, 17, 27 (After Conversion), 28 (After Conversion), 34, 39 40, 41, 42, 50, 54, 79, 80, 81, 84, 87, 90, 91, 92, 95, 101, 102, 103, 109, 110 & 121)	< 11	34	34
		11 to 15	38	38
		16 to 20	42	42
		> 20	48	48
3	New Endowment (Plan 814)	12 to 15	38	38
		16 to 20	42	42
		> 20	48	48
4	Single Premium Endowment (Plan 817)	10 to 15	41	41
		16 to 20	46	46
		> 20	51	51
5	Money Back Assurances (Plans 75& 93)	20	39	39
		25	44	44
6	New Money Back (Plans 820 & 821)	20	39	39
		25	44	44
7	Jeevan Surabhi (Plans 106, 107 & 108)	15	34	34
		20	41	41
		25	50	50
8	Jeevan Mitra (Double Cover plan), Jeevan Saathi (Plans 88 & 89)	15	40	40
		16 to 20	44	44
		> 20	48	48
9	Jeevan Mitra (Triple Cover Plan: Plan 133 )	15	40	40
		16 to 20	45	45
		> 20	50	50
10	Limited Payment Endowment (Plan 48)	<16	40	40
		16 to 20	44	44
		> 20	49	49

2

Group	Plan	Term	Reversionary Bonus Rate %o Sum Assured (**)	Interim Bonus Rate %o Sum Assured (**)
		(*)
11	Limited Premium Endowment (Plan 830)	12	40	40
		16	45	45
		21	50	50
12	New Children Money Back (Plan 832)	13 to 15	38	38
		16 to 20	42	42
		> 20	48	48
13	Jeevan Lakshya (Plan 833)	13 to 15	41	41
		16 to 20	45	45
		> 20	49	49
14	Jeevan Anand (Plan 149)	<11	38	38
		11 to 15	41	41
		16 to 20	45	45
		>20	49	49
15	New Jeevan Anand (Plan 815)	15	41	41
		16 to 20	45	45
		>20	49	49
16	Jeevan Rekha (Plan 152)	<11	49	49
		11 to 15	44	44
		16 to 20	40	40
		>20	34	34
17	Jeevan Anurag (Plan 168)	< 11	38	38
		11 to 15	40	40
		16 to 20	42	42
		> 20	44	44

3

Group	Plan	Term	Reversionary Bonus Rate %o Sum Assured (**)	Interim Bonus Rate %o Sum Assured (**)
		(*)
18	New Jeevan Suraksha – I (Plan 147)	< 6	21	21
		6 to 10	27	27
		11 to 15	31	31
		>15	35	35
19	New Jeevan Dhara - I (Plan 148)	< 6	20	20
		6 to 10	25	25
		11 to 15	28	28
		>15	32	32
20	Jeevan Tarang (Plan 178)	10	47	47
		15	48	48
		20	49	49
21	Jeevan Madhur (Plan 182)	< 11	21	21
		11 – 15	26	26
22	Child Career (Plan 184)	11 to 15	34	34
		16 to 20	38	38
		>20	40	40
23	Child Future (Plan 185)	11 to 15	38	38
		16 to 20	42	42
		>20	44	44
24	Jeevan Bharti (Plan 160)	15	38	38
		20	40	40
25	Jeevan Shree – I (Plan 162)	10	45	45
		15	46	46
		20	49	49
		25	53	53

4

Group	Plan	Term	Reversionary Bonus Rate %o Sum Assured (**)	Interim Bonus Rate %o Sum Assured (**)
		(*)
26	Jeevan Nidhi ( Plan 169)	<11	41	41
		11 - 15	43	43
		16 - 20	45	45
		> 20	47	47
27	Jeevan Pramukh (Plan 167)	10	49	49
		15	50	50
		20	53	53
		25	57	57
28	Jeevan Amrit (Plan 186)	10 – 15	32	32
		16 – 20	32	32
		> 20	32	32
29	Jeevan Bharati I (Plan 192)	15	29	29
		20	31	31
30	Jeevan Tarun (Plan 834)	13 - 15	38	38
		16 – 20	42	42
		> 20	48	48
31	Jeevan Labh (Plan 836)	16	43	43
		21	47	47
		25	50	50
32	Jeevan Pragati (Plan 838)	12 – 15	37	37
		16 - 20	41	41

Group	Plan	Term	Reversionary Bonus Rate %o Sum Assured (**)	Interim Bonus Rate %o Sum Assured (**)
		(*)
33	New Jeevan Nidhi ( Plan 812 & 818)	<11	42	42
		11 - 15	44	44
		16 - 20	46	46
		> 20	48	48

(*) Premium Paying Term in case of Jeevan Anand (Plan 149) & Jeevan Rekha (Plan 152);Accumulation period in case of Jeevan Tarang (Plan 178);Deferment Period in

case of New Jeevan Suraksha – I (Plan 147), New Jeevan Dhara - I (Plan 148), Jeevan Nidhi (Plan 169) & New Jeevan Nidhi (Plan 812 & 818).

(**) In case of New Jeevan Suraksha – I (Plan 147) and New Jeevan Dhara – I (Plan 148), bonus rates are per thousand Cash Option. In case of Jeevan Madhur (Plan 182),

bonus rates are per thousand death benefit sum assured. In case of Jeevan Amrit Plan,bonus rates are per thousand premium(s) paid.

The above reversionary bonus rates are applicable for policy year entered upon during the inter valuation period i.e. 01/04/2016 to 31/03/2017 and in force for full sum

assured as on 31/03/2017. It would apply to policies resulting into claims by death or maturity (including those discounted within one year of maturity) or surrendered on or

after 01/01/2018.

In case of Jeevan Amrit (Plan 186), once the partially paid-up policy gets revived, the reversionary bonuses under such revived policy shall be calculated as if the policy was in

force since inception treating the premiums received at the time of revival as deemed to have been received on their respective due dates of payment.

The above interim bonus rates are applicable to policies in respect of each policy year entered upon after 31/03/2017 and result into claims by death or maturity (including

those discounted within one year of maturity) or are surrendered during the period commencing from 01/01/2018 and ending 9 months from the date of next valuation.

No cash bonus has been declared in respect of New Jeevan Akshay - I (Plan 146).

For General Annuity / Pension policies (Plans 147, 148, 169, 812 & 818), the bonus rates are applicable only during the deferment period. The bonus rates in case of Plan

147 & 148 are not applicable for policies exiting by death during the deferment period.

Star Health Senior Citizen Insurance Policy Details

Star Health Senior Citizen Red Carpet Insurance Policy 

• This plan is for Senior citizens aged between 60 to 75 years.
• No pre-insurance medical test required.
• Covers pre-existing diseases from the second year onwards.
• Medical Consultations as an Out Patient in a Network Hospital.
• Higher Sum Insured coverage up to Rs.10 Lakhs.
• Guaranteed lifetime renewals.

Coverage	Hospitalisation Expenses incurred as in-patient for Sickness / Disease / Illness and Accidental Injuries for a minimum period of 24 hrs.
Type of Cover	Individual.
Entry Age	60 yrs to 75 yrs. & 364 days
Renewals	Life time
Co-pay	Co-Pay is a cost sharing requirement that provides the policyholder / insured will bear a specified percentage of the admissible claim amount
	For Pre-existing Disease claims- 50 % of each and every claim and 30% of each and every claim for all other claims and renewals thereafter
Sum Insured Options	1 / 2 / 3 / 4 / 5 / 7.5 & 10 Lakhs
Policy & Grace Period	One year and with 30 days Grace Period to renew the policy. (Renewal during Grace Period - Declaration of Good Health is required).
Medicals	Medical is not a must.
Age Proof	Age Proof is compulsory.
Free look Period	15 days with refund of Premium on Pro-rata Basis.
Any Disease Contracted	1st 30 days (Accidents Exempted )
Certain Procedures / Diseases	First two years, including Congenital Internal Defects / Diseases - 50 procedures / diseases
Pre Existing Diseases (PED)	12 months
Allowable Expenses
Non- allopathic Treatment (Other than Naturopathy)	No Provision
Pre - Hospitalizations	No Provision
Post - Hospitalizations	Amount will not exceed 7% of Hospital Bill (Minus Room Rent) subject to Max of Rs.5000/- Per hospitalization.
Ambulance	Rs. 600 Per occurrence / Rs. 1200 Policy Period
Day care Procedures and Sub Limits	12 Procedures. 24 hrs. hosp. is waived and the sub-limits in bracket will apply for following day care procedures - Lithotripsy (20K), Tonsillectomy (7.5K), Cutting & draining of Subcutaneous abscess (1.5K), Liver aspiration (2K), Pleural Effusion Aspiration (2K), Colonoscopy (2K), Sclerotherapy (5K)}, Cataract limit varies based on the Sum Insured. Dialysis, Chemotherapy, Radiotherapy and Dental Surgery due to accident only
Other excluded expenses	203 Items as per Printed Policy Clause.
Automatic Restoration of Sum Insured	No Provision
Package Charges	No restrictions in respect of Package Charges
Room Rent (Inclusive of Boarding & Medical expenses) on Per Day Basis Whichever is lower	Up to 1% of Basic Sum Insured subject to a Max. Of Rs.6000 per day.
Doctor's Fee	Actuals or subject to a Maximum of 25% of Sum Insured, Per Hospitalisation
Medicine Charges	Actuals or subject to a Maximum of 50% of Sum Insured, Per Hospitalisation
Note	Expenses relating to the Hospitalisation will be considered in proportion to the room rent stated in the policy. Treatment taken in Non-Networking Hospital exclusion has been removed.
No Claim Bonus for Every Claim Free Year	No Provision
Portability	This policy is portable.
80 D Benefit Tax Benefit	Premium Paid by any mode other than cash is eligible for relief under section - 80D of the IT Act.

Star Health Senior Citizen Red Carpet Insurance Sub-limit
Sum insured	100000	200000	300000	400000	500000	750000	1000000
Particulars	Limit of Company's Liability Rs.
Cataract	15000	15000	18000	20000	21500	23000	25000
CVA	75000	150000	200000	225000	275000	300000	350000
CVD	75000	150000	200000	225000	275000	300000	350000
Cancer	75000	150000	200000	225000	275000	300000	350000
Treatment for Breakage of Bones	75000	150000	200000	225000	275000	300000	350000
Renal Complications	75000	150000	200000	225000	275000	300000	350000
All other Major Surgeries	60000	120000	150000	200000	225000	250000	275000
Medical Consultation
Sum insured	100000	200000	300000	400000	500000	750000	1000000
Medical Consultation as OPD in Network Hospital @ Rs.200 per consultation	No Provision	No Provision	Rs.600	Rs.800	Rs.1000	Rs.1,200	Rs.1,400
Premium Rates Incl. ST of 14%
Sum insured	100000	200000	300000	400000	500000	750000	1000000
In Rs.	5073	9640	14706	17671	20520	23940	25650

Additional Benefits in Sr. Citizen Red Carpet Policy Revised
1. High Sum Insured of Rs.7.5 lakhs and Rs.10 lakhs
2. First two years, including Congenital Internal Defects / Diseases - 50 Procedures / Diseases
3. Increase of Room Rent - 1% of Basic SI subject to a Max. of Rs.6000 per day
4. Increase of Sub-limit in Cataract Procedure
5. Increase of Sub-limits in Major Surgeries, no changes in sum insured of Rs.1 lakh and Rs.2 lakh
6. OPD - Medical Consultation
7. Treatment taken in Non Networking Hospital exclusion has been removed
8. No restrictions in respect of Package Charges


First Two Year Exclusions under Sr. Citizen Red Carpet Policy Revised
a. Cataract, Glaucoma, Diseases of anterior segment and posterior segment of the eyes, All diseases related to ENT, Diseases related to Thyroid, Prolapse of intervertebral disc (other than caused by accident), Varicose veins and Varicose ulcers, all diseases of Prostrate, Stricture Urethra, all types of Hernia, Varicocele, Hydrocele, Fistula / Fissure in ano, Hemorrhoids, Pilonidal Sinus and Fistula, Rectal Prolapse, Stress Incontinence and Congenital Internal disease / defect
b. Gall Bladder and Pancreatic diseases and all treatments (conservative, interventional, laparoscopic and open) related to Hepato-pancreato-biliary disease including Gall Bladder and Pancreatic Calculi. All types of management for Kidney and Genito-urinary tract calculi.
c. All treatments (conservative, interventional, laparoscopic and open) related to all diseases of Uterus, Fallopian Tubes, Cervix and Ovaries, Dysfunctional Uterine Bleeding, Pelvic Inflammatory Diseases, Benign Breast diseases.
d. Conservative, operative treatment and all types of intervention for diseases related to Tendon, Ligament, Fascia, Bones and Joint (other than caused by accident).
e. Degenerative disc and vertebral diseases including replacement of Bones and Joints and Degenerative diseases of the Musculo-skeletal system.
f. Subcutaneous benign lumps, Sebaceous cyst, Dermoid Cyst, Lipoma, Neuofibroma, Fibro adenoma, Ganglion and similar pathology.
g. Any transplant and related surgery.
This waiting period shall not however apply in the case of the insured person/s having been covered under any individual health insurance scheme with any of the Indian Insurer for a continuous period of preceding 24 months without any break.
The Claim for such illnesses/diseases/disabilities contracted/suffered if admitted will be processed as per the Sum Insured of immediately preceding 24 months policy only. Where there is a change in the sum insured in the second continuous policy year the lower of the sum insured will apply.

Star Cardiac Care Health Insurance Policy Details

• This policy is for persons who have undergone for the first time the named surgery / intervention / correction for the existing Cardiac diseases.
• This policy has two Plan options – Gold Plan and Silver Plan
• Silver Plan pays for expenses incurred as an inpatient for treatment in respect of all cardiac related complications that necessitate surgery/intervention
• Gold Plan pays for expenses incurred as an inpatient for treatment in respect of all cardiac related complications that necessitate medical management, surgery/intervention.
• Under both the Plans regular hospitalization is covered under Section 1 and all Cardiac related ailments are covered under Section 2.
• Out Patient Benefit is available.
• Personal Accident: Accidental Death Cover.
• No Pre acceptance medical screening.
• 405 day-care procedures covered.

Policy Benefits: (Applicable for Both Silver Plan and Gold Plan)

Hospitalization cover

• Protects the insured for in patient hospitalisation expenses for a minimum of 24 hrs. These expenses include room, nursing and boarding charges, Surgeon, Anaesthetist, Medical Practitioner, Consultants, Specialist Fees, Oxygen, Operation Theatre, Diagnostics, imaging modalities and Cost of Medicines and Drugs, Oxygen, Blood, Operation theatre, Diagnostic and Imaging modalities.
• Ambulance charges for emergency transportation to hospital as per specified limits.
• Pre-Hospitalization expenses up to 30 days prior to admission in the hospital.
• Post-hospitalisation expenses incurred up to specified limits.
• 405 Day-care treatments covered
• Pre-Existing Diseases / Illness are covered after 48 months of continuous coverage without break with any Indian Non-Life Insurer, under Section 1
• After a waiting period of 90 days, this policy covers all treatments relating to Cardiac diseases. This waiting period will not apply for renewals.

Out-Patient Expenses

The Company will pay the amount of such expenses as are reasonably and necessarily incurred at the network hospitals/diagnostic centres as an Out Patient, provided the policy is in force

The limit of benefit under this Section is Rs.500/- per event subject to a maximum of Rs.1500/- per policy period, provided policy is in force. This benefit forms part of the Sum Insured.

Personal Accident

If at any time during the Period of Insurance, the Insured Person shall sustain any bodily injury resulting solely and directly from an Accident caused by external, violent and visible means and if such accident causes death of the Insured Person within 12 Calendar months from the date of Accident, then the Company will pay the Sum Insured mentioned in the schedule as compensation.

Star Cardiac Care Insurance Policy ELIGIBILITY

• Star Cardiac Care Insurance can be taken by any person between 10 years and 65 years of age, who has undergone for the first time.
• PTCA (Stenting) or CABG (By-pass) procedure,  within 7 years prior to the date of policy purchase or
• Atrial Septal Defect (ASD) or Ventricular Septal Defect (VSD) that has been corrected  or
• Patent Ductus Arteriosus (PDA) that has been treated or
• RF Ablation done to correct the underlying cardiac condition or
• Had an Angiogram done but no intervention was medically found necessary.

Star Cardiac Care Insurance Policy GENERAL TERMS

Tax Benefits

Amount paid by any mode other than by cash for this insurance is eligible for relief under Section 80D of the Income Tax Act.

Free Look Period

A free look period of 15 days from the date of receipt of the policy is available for reviewing the policy terms and conditions. In case insured is not satisfied he can seek cancellation of the policy and in such event the Company will allow refund of premium after adjusting the cost of pre-acceptance of medical screening, stamp duty charges and proportionate risk premium for the period concerned provided no claim has been made until such cancellation. Free look cancellation is not applicable at the time of renewal.

Guaranteed Lifetime Renewals

Life-long renewals beyond 65 years are offered under this policy.

Star Cardiac Care Insurance Policy Details & Features
Age at Entry	10 Years to 65 years
Who can Buy	1. Undergone Percutaneous Transluminal Coronary Angioplasty - PTCA or Coronary Artery Bypass Graft (CABG) - Within 7 years 2. Artial Septal Defect - ASD or Ventricular Septal Defect - VSD - Corrected 3. Patent Ducutus Arteriosus (PAD) - Treated 4. RF Ablation or RF Ablation done to correct Cardiac Condition 5. Angiogram done - But intervention not found necessary
Sum Insured	3 Lac and 4 Lac
Sum Insured Enhancement	SI can be enhanced on renewal - Subject to company's discretion - Only when no Claim lodged or Paid - Waiting period will be applied on the enhanced Sum Insured
Policy Period	One year
Renewal Guarantee	Life Long
Renewal Grace Period	30 days
Section - 1	Regular Hospitalisations - Other than Cardiac related
Room Rent, Boarding and Nursing Expenses	Rs. 5000 per day
Professional Fees	Surgeon, Anesthetist, Medical Practitioner, Consultant, Specialist Fees - Actual
Other Medical Expenses	Anesthesia, Blood, Oxygen, OT Charges, Surgical Appliances, Medicines and Drugs, Diagnostic materials, X-ray, Diagnostic Imaging, Dialysis, Chemotherapy, Radiotherapy etc. - Actual
Ambulance Charges	Rs. 750 per hospitalisation - Rs. 1500 per policy year
Pre - Hospitalisaton	30 days prior to the date of hospitalisation - Actual
Post - Hospitalisation	60 days - (7% of nursing expenses, Surgeon/consultant Fees, Diagnostic Charges, Cost of medicines and drugs with Max Rs. 5000)
Section - 2 - Gold	1. Cardiac related Complications - resulting in Surgery or intervention 2. Cardiac Medical Management
Section - 2 - Silver	Cardiac related Complications - resulting in Surgery or intervention only Cardiac Medical Management not covered
Both Gold and Silver a. Room Rent, Boarding and Nursing Expenses b. Professional Fees c. Other Medical Expenses d. Ambulance Charges e. Pre-Hospitalisation f. Post - Hospitalisation	Same as Section 1
Section - 3	Out Patient Consultation - Max. Rs. 500 per consultation Max - Rs. 1500 per policy year - Payout forms part of Sum Insured
Section - 4	Personal Accident - Death Cover - Accident Cover Sum Insured Equivalent to Health Sum Insured
Day - Care Treatment	405 - Day Care Procedures
Sublimit for Cataract	Max Rs. 20,000 per hospitalisation - Max Rs. 30,000 for policy period
Treatment on Package Charges basis	80% of Package Charges paid - for Section 1 hospitalisations only
30 days - Waiting Period	Any Disease Contracted by the insured
90 days - Waiting Period	PEDs related to Cardiac ailments
24 Months - Waiting Period	Like - Cataract, ENT, Thyroid, Prolapse of intervertebral Disc (Non-Accidental), Vericose - veins & Ulcers, Prostate Disease, Hernia, Fistula/Fissure, Congenital Internal Disease, - For full list refer product broucher
48 Months - Waiting Period	PEDs - Other than Cardiac related PED - Declared in Proposal and Endorsed in Policy
Permanent Exclusions	Like - Congenital External defects, Dental Treatments(Non-Accidental), Psychiatric treatment, Venereal diseases, Intentional Self Injury, Pregnancy and child birth related, Weight Control, Cosmetic treatments, Plastic Surgery - For full list refer product broucher
Pre Acceptance Medical Screening	Not Required - But all the past medical records of the proposed insured to be submitted
Co Payment	10% on every Hospitalisation - Under Section 1 only - For Age above 60 years at ENTRY

LIC JEEVAN UMANG Whole Life Plan No. 845 Details

LlC’s Jeevan Umang is a non-linked, with-profits whole life assurance plan. This plan provides for annual survival benefits from the end of the premium paying term till maturity and a lump sum payment at the time of maturity or on death of the policyholder during the policy term.

LIC Jeevan Umang Policy is a whole life plan with pension cum saving plan and guaranteed 8% return on survival.

LlC’s Jeevan Umang BENEFITS:

The benefits payable under an in force policy are as under:

a) Death Benefit of Jeevan Umang:

On death before the commencement of Risk:

An amount equal to the total amount of premium/s paid without interest shall be payable.


On Death after the commencement of Risk:

Death Benefit, defined as sum of “Sum Assured on Death” and vested Simple Reversionary Bonuses and Final Additional bonus, if any, shall be payable.

Where “Sum Assured on Death” is defined as the highest of

• 10 times of annualised premium; or
• Sum Assured on Maturity; or
• Absolute amount assured to be paid on death, i.e. Basic Sum Assured.

This death benefit shall not be less than 105% of all the premiums paid as on date of death.
Premiums referred above shall not include any taxes, extra amount chargeable under the policy due to underwriting decision and rider premium(s), if any.

b) Survival Benefit of Jeevan Umang: 

On the life assured surviving to the end of the premium paying term, provided all due premiums have been paid, a survival benefit equal to 8% of Basic Sum Assured shall be payable each year. The first survival benefit payment is payable at the end of premium paying term and thereafter on completion of each subsequent year till the Life assured survives or till the policy anniversary prior to the date of maturity, whichever is earlier.

c) Jeevan Umang Maturity Benefit:

On the life assured surviving to the end of the policy term, provided all due premiums have  been paid, “Sum Assured on Maturity” along with vested Simple Reversionary Bonuses (as mentioned in 3 below) and Final Additional bonus, if any, shall be payable.  

Where “Sum Assured on Maturity” is equal to Basic Sum Assured. 

LIC JEEVAN UMANG Plan No. 845 Details

LIC Jeevan Umang Calculator

PARTICIPATION IN PROFITS OF JEEVAN UMANG:

Depending upon the Corporation’s experience with regard to policies issued under this plan, the policy shall participate in profits during the policy term.

During the premium paying term:

Policies shall be eligible to receive Simple Reversionary Bonuses declared as per the  experience of the Corporation during the premium paying term, provided the policy is inforce.

Final Additional Bonus may also be declared under an inforce policy in the year when such policy results into a claim by death. However, Final Additional Bonus shall not be payable under paid-up policy or on surrender of a policy during the premium paying term.

In case the premiums are not duly paid, the policy shall cease to participate in future profits during premium paying term.  

After the premium paying term {applicable only for fully paid-up policies or for paid-up policies with Maturity Paid-up Sum Assured of Rs. 2 Iakhs or more):

Under a fully paid-up policy (i.e.where all premiums payable during the term of the policy are paid) or in a paid-up policy with Maturity Paid-up Sum Assured of Rs. 2 Iakhs or more, the terms for participation of profits after the premium paying term may be in a different form  and on a differential scale depending on the Corporation’s experience under this plan at that time.

Final Additional Bonus may also be declared under the policy in the year when a policy results into a claim either by death or maturity. In addition, applicable Final Additional Bonus  for surrendering policies, if any, may also be considered in payment of Special Surrender Value.

Under a paid-up policy with Maturity Paid-up Sum Assured of less than Rs. 2 Iakhs, the policy shall not participate in future profits.  

LlC’s Jeevan Umang OPTIONAL BENEFIT:  

The following four optional riders are available under this plan. However, the policyholder can opt for either LIC’s Accidental Death and Disability Benefit Rider or LIC’s Accident Benefit Rider. Therefore, a policyholder can opt for a maximum of three riders under this plan.  

LlC’s Accidental Death and Disability Benefit Rider:

LIC’s Accidental Death and Disability Benefit Rider is available as an optional rider by payment of additional premium. This rider can be opted for at any time within the premium paying term of the Base Plan provided the outstanding premium paying term is atleast 5 years. The benefit cover under this rider shall be available upto the policy anniversary on which the age nearer birthday of the Life Assured is 70 years. Thereafter the cover shall cease.

If this benefit is opted for, an additional amount equal to the Accident Benefit Sum Assured is payable on death due to accident, provided the rider is inforce at the time of accident. In case of accidental permanent disability (within 180 days from the date of accident), an amount equal to the Accident Benefit Sum Assured will be paid in equal monthly installments spread over 10 years and future premiums for Accident Benefit Sum Assured as well as premiums for the portion of Basic Sum Assured which is equal to Accident Benefit Sum Assured under the policy, shall be waived. The premium for the portion of Basic Sum Assured which exceeds the Accident Benefit Sum Assured and premium(s) in respect of other Rider(s), if opted for, shall continue to be paid. If the policy becomes a claim by way of death before the expiry of the said period of 10 years, the disability benefit instalments which have not fallen due will be paid along with the claim amount.

The premium for this rider will not be required to be paid after the premium paying term of the base plan.

LlC’s Accidental Death and Disability Benefit Rider shall not acquire any paid-up value and the rider benefit will cease to apply, if policy is in lapsed condition.

LIC’s Accident Benefit Rider:

LlC’s Accident Benefit Rider is available as an optional rider payment of additional premium.

This rider can be opted for at any time within the premium paying term of the Base Plan provided the outstanding premium paying term is atleast 5 years. The benefit cover under this rider shall be available only during the premium paying term of the base plan. Thereafter the cover shall cease.

If this benefit is opted for and if the Life Assured is involved in an accident leading to death within 180 days from the date of accident then an additional amount equal to the Accident benefit Sum Assured is payable. However, the policy shall have to be inforce at the time of accident irrespective of whether or not it is inforce at the time of death. 

LlC’s Accident Benefit Rider shall not acquire any paid-up value and the rider benefit will cease to apply, if policy is in lapsed condition.

LIC’s New Term Assurance Rider:

LIC’s New Term Assurance Rider is available as an optional rider at the inception of the policy by payment of additional premium. The additional premium for this rider will need to be paid along with the premium of the Base Plan and any other rider(s), if opted for, during the premium paying term of the policy. The benefit cover under this rider shall be available for a term of 35 years or till the policy anniversary on which the age nearer birthday of the Life assured is 75 years, whichever is earlier. Thereafter the cover shall cease. If this rider is opted for, an additional amount equal to Term Assurance Rider Sum Assured shall be payable on death of the life assured, provided the rider cover is inforce.

LIC’s New Critical Illness Benefit Rider:

LIC’s New Critical Illness Rider is available as an optional rider at the inception of the policy by payment of additional premium. The additional premium for this rider will need to be paid along with the premium of the Base Plan and any other rider(s), if opted for, during the premium paying term of the policy. The cover under this rider shall be available for a policy term of 35 years or till the policy anniversary on which the age of the Life Assured is 75 years, whichever is earlier.

If this rider is opted for, on first diagnosis of any one of the 15 critical Illness covered under this rider, the Critical Illness Sum Assured shall be payable subject to the conditions specified in the rider circular.

LIC’s New Critical Illness Rider shall not acquire any paid-up value and the rider benefit will cease to apply, if policy is in lapsed condition.

Beyond the specific details as mentioned in this circular in respect of this rider, any additional details like refund to be made in respect of this rider on surrender of base plan etc., may be referred from the rider circular.

Note: The premiums under all the riders put together shall be subject to a ceiling of 30% of the premium of the Base policy. Any benefit arising under each of the riders shall not exceed the Sum Assured under the Basic product.

ELIGIBILITY CONDITIONS AND RESTRICTIONS of Jeevan Umang:

For Base Plan:
Minimum Age at entry                    : [90] days (completed)

Maximum Age at entry                    : 55 years (nbd) for PPT=15
                                                            50 years (nbd) for PPT=20
                                                            45 years (nbd) for PPT=25
                                                            40 years (nbd) for PPT=30

Premium Paying Term (PPT)            : [15, 20, 25 and 30] years

Minimum age at the end of the PPT : [30] years (nbd)

Maximum Age at the end of PPT     : [70] years (nbd)

Age at Maturity                               : [100] years (nbd)

Policy Term                                     : [100-age at entry] years

Minimum Basic Sum Assured          : Rs. 2,00,000

Maximum Basic Sum Assured         : No Limit

The Basic Sum Assured Shall be in multiples of Rs. 25,000/— only.


Age at entry for the Policyholder is to be taken as age nearer birthday (nbd) except for the minimum age at entry 90 days i.e. where it is completed days.

LIC JEEVAN UMANG Plan 845 Calculator

In case the age at entry of the Life Assured is less than 8 years, the risk under this plan will commence either one day before the completion of 2 years from the date of commencement of policy or one day before the policy anniversary coinciding with or immediately following the completion of 8 years of age, whichever is earlier. For those aged 8 years or more, risk will commence immediately.

Date of issuance of policy:

It is a date when a proposal after underwriting is accepted as a policy and the contract gets effected.

Date of vesting under this plan (Applicable only if the Life Assured is below 18 years on
the- date of commencement of policy):

If the policy is inforce and the Life Assured is alive on the vesting date and if a request in writing for surrendering the policy has not been received by Corporation before such vesting date from the person entitled to the policy moneys, this policy shall automatically vest in the Life Assured on such vesting date i.e. on the policy anniversary coinciding with or immediately following the completion of 18 years of age and shall on such vesting be deemed to be a contract between the Corporation and the Life Assured.

For LlC’s Accidental Death and Disabiligy Benefit Rider:

Minimum Entry Age                         : 18 years (completed)

Maximum Entry Age                        : The cover can be opted for at inception or at any policy anniversary thereafter, provided the outstanding premium paying term under the base plan is at least 5 years.

Maximum cover ceasing Age           : 70 years (nbd)

Minimum Accident Benefit Sum Assured : Rs. 10,000/-

Maximum Accident Benefit Sum Assured: An amount equal to the Basic Sum Assured under the Base Plan subject to the maximum of Rs.100 lakhs overall limit taking all existing policies of the Life Assured under individual as well as group policies including policies with inbuilt accident benefit taken with Life Insurance Corporation of India and the Accident Benefit Sum Assured under the new proposal into consideration.

The Accident Benefit Sum Assured shall be in multiples of Rs. 10,000/-only.

For LIC’s Accident Benefit Rider: (cover under this rider shall be available during the PPT only)

Minimum Entry Age                            : 18 years (completed)

Maximum Entry Age                           : The cover can be opted for at inception or at any policy anniversary thereafter, provided the outstanding premium paying term under the base plan is at least 5 years.

Cover ceasing Age                              : Age at the end of premium paying term

Minimum Accident Benefit Sum Assured : Rs. 20,000/-

Maximum Accident Benefit Sum Assured: An amount equal to the Basic Sum Assured
under the base plan subject to the maximum of Rs.100 Iakh overall limit taking all
existing policies of the Life Assured under individual as well as group policies including
policies with inbuilt accident benefit taken with Life Insurance Corporation of India and
the Accident Benefit Sum Assured under the new proposal into consideration.


The Accident Benefit Sum Assured shall be in multiples of Rs. 5,000/-only.


Note :The overall limit of Accident Benefit Sum Assured shall be inclusive of Sum Assured under both the Accident Benefit riders i.e. the LlC’s Accidental Death and Disability Benefit Rider and LlC’s Accident Benefit Rider.

For LlC’s New Term Assurance Rider:

Minimum Entry Age                                       : 18 years (completed)

Maximum Entry Age                                      : 55 years (nbd) for PPT=15
                                                                          50 years (nbd) for PPT=20
                                                                          45 years (nbd) for PPT=25
                                                                          40 years (nbd) for PPT=3O

Premium paying term                                     : same as Base plan

Maximum policy term                                    : 35 years

Maximum cover ceasing Age                         : 75 years (nbd)

Minimum Term Assurance Rider Sum Assured: Rs. 1,00,000/-

Maximum Term Assurance Rider Sum Assured: An amount less than or equal to the Basic Sum Assured under the Base plan, but not exceeding the overall limit of Rs.25 Iakhs taking all Term Assurance Rider Sum Assured under all existing policies of the Life Assured including the new proposal into consideration.

The Term Assurance Rider Sum Assured shall be in multiples of Rs. 5,000/-only.

For LIC’s New Critical Illness Benefit Rider:

Minimum Entry Age                                      : 18 years (completed)

Maximum Entry Age                                      : 55 years (last birthday) for PPT=15
                                                                           50 years (last birthday) for PPT=20
                                                                           45 years (last birthday) for PPT=25
                                                                           40 years (last birthday) for PPT=3O

Maximum cover ceasing Age                           : 75 years (last birthday)

Maximum policy term                                      : 35 years

Premium paying term                                       :same as Base plan

Minimum Critical Illness Sum Assured           : Rs. 1,00,000/-

Maximum Critical Illness Sum-Assured          : An amount equal to the Sum Assured on Death under the Base plan but not exceeding an overall limit of Rs.25 lakh Critical Illness Sum Assured taking all existing policies of the Life Assured under this rider and the Critical Illness Sum Assured under the new proposal into consideration.

The Critical Illness Sum Assured shall be in multiples of Rs 25,000/- only.

MODE OF PREMIUM PAYMENT:

The modes of premium payment allowable are Yearly, Half Yearly, Quarterly, and Monthly (NACH only) or through salary deductions.

LOAN on Jeevan Umang:

Loan facility shall be available under this plan after at least 3 full years premiums have been paid.

If loan is availed during the premium paying term:

The maximum loan as a percentage of surrender value shall be as under:

• For inforce policies- upto 90%
• For paid-up policies- upto 80%

Interest on Loan during the premium paying term shall be paid on compounding half-yearly basis to the Corporation at the rate to be specified by the Corporation at the time of taking loan under this policy. In case the loan is not repaid during the premium paying term and if there is default in interest payment, then due interest on the loan shall be recovered from survival benefits due or any other amount payable under the policy.

If loan is availed after the premium paying term:

The maximum permissible amount of new loan (where no previous loan taken earlier is outstanding) for policies which are entitled for survival benefits shall be arrived at in such a way that the effective annual interest amount payable on loan does not exceed 50% of the annual survival benefit payable under the policy.

Interest on the loan shall be recovered from the survival benefits and at the rate which
shall be specified by the Corporation when the loan is made.

In the event of default in payment of loan interest on the due dates and when the outstanding loan amount along with interest is to exceed the surrender value the policy shall be foreclosed. On foreclosure of- such policies, the difference of surrender value and the loan outstanding amount along with interest, if any, shall be paid to the policyholder and the policy will terminate.

In case a policy becomes a claim by way of death, surrender or maturity the amount of outstanding loan along with all due interest shall be recovered from the claim benefit payment.

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Other Plans :  LIC New Jeevan Anand Plan Table No - 815, LIC New Endowment Plan Table No - 814