Endowment Plans

Plan	Entry age	Maximum age at maturity	Policy term	Sum assured	Premium payment	Premium payment frequency
LIC’s Bima Jyoti	0(90 days) – 60 Years	75 Years	15-20 Years	1,00,000 – No Limit	5 Years	Yearly, Half-yearly, Quarterly or Monthly
LIC’s Dhan Sanchay	0(90 days) – 60 Years	65 Years	10,15 Years	1,00,000 – No Limit	30,000, No Limit 2,00,000, No Limits Single Premium	Yearly, Half-yearly, Quarterly or Monthly
LIC’s New Endowment Plan	8 – 55	75 Years	12 – 35 Years	1 L	Same Policy Term	Yearly, Half-yearly, Quarterly or Monthly
LIC’s Jeevan Lakshya	18 – 55	65 Years	13 – 25 Years	1 L – Nolimits	Minium Last 3year for policy term	Yearly, Half-yearly, Quarterly or Monthly
LIC’s Jeevan Labh	8 – 59	75 Years	16/21/25 Years	2 L – Max Nolimits	10/15/16	Yearly, Half-yearly, Quarterly or Monthly
LIC’s Aadhaar Stambh Male	8 – 55	70	10 – 20	75k – 3 L	Actual Term	Yearly, Half-yearly, Quarterly or Monthly
LIC’s Aadhaar Shila Female	8 – 55	70	10 – 20	75k – 3 L	Actual Term	Yearly, Half-yearly, Quarterly or Monthly

LIC’s Bima Jyoti LIC’s Dhan Sanchay LIC’s Jeevan Azad LIC’s Dhan Vriddhi LIC’s New Endowment Plan LIC’s Jeevan Lakshya LIC’s Jeevan Labh LIC’s Aadhaar Stambh LIC’s Aadhaar Shila

LIC’s Bima Jyoti

Life Cover
Higher of 125 % of Sum Assured or 7 times of annualized premium+
Guanranteed Additions
Life assured below 8 years age – life cover will start, on completion of 2 policy years OR 8 years of age – whichever is earlier.
Maturity Benefit
Sum Assured + Guaranteed Additions (at the rate of Rs.50 per thousand Basic Sum Assured).

LIC’s Dhan Sanchay

Key Features & Benefits Of LIC’s DhanSanchay Plan

There are a plethora of features and benefits provided by LIC’s DhanSanchay Plan. Some of them are as discussed below:

Benefit Options At Inception: The plan provides four benefit options at the time of inception. In the case of regular or limited premium payment, Option A (Level Income Benefit) and Option B (Increasing Income Benefit) are available to the policyholder. Whereas, in the case of single premium payment, the choice is given between Option C (Single Premium Level Income Benefit) and Option D (Single Premium Enhanced Cover with Level Income Benefit).

Death Benefit: A lump-sum death benefit will be paid by the insurer. Alternatively, the policyholder may choose to collect the death benefit in equal payments over a maximum of five years. The “Sum Assured on Death”—which can differ for different options—will be the death benefit under the plan. The “Sum Assured on Death” for Options A and B will be higher of 11 times the “Annualized Premium,” or “Sum Assured on Maturity,” or 105% of all premiums paid up until the date of death.

The “Sum Assured on Death” for option C will be 1.25 times greater than the “Single Premium” or the “Sum Assured on Maturity.” The “Sum Assured on Death” for choice D will be 11 times the “Single Premium.”

Maturity Benefit: The “Annualized Premium” or “Single-Premium” multiplied by the “Maturity Benefit Multiplier” will determine the “Sum Assured at Maturity”. “Guaranteed Income Benefit” and “Guaranteed Terminal Benefit” will be paid as maturity benefits following the policy’s maturity. According to LIC, there will be an option to get the maturity benefits in a lump amount while the life assured is still a minor or by the life assured who is at least 18 years old at least three months prior to the maturity date for a paid-up policy.

LIC’s Jeevan Azad

Key Benefits of LIC’S Jeevan Azad Policy

This plan offers the life assured and his/her family multiple benefits to provide maximum financial protection and security. Those benefits are discussed below.

Death Benefit:

The death benefit is payable after the date of commencement of risk but before the maturity date on the death of the life assured during the policy term of an active policy. The death benefit is equal to the sum assured on death which is higher of the followings.

Basic Sum Assured
7 times of Annualized Premium.

This Death Benefit shall not be less than 105% of the Total Premiums Paid up to the date of death.

Death benefit in case of a minor:

In case of a minor Life Assured, whose age at entry is below 8 years, on death before the commencement of risk, the Death Benefit payable will be a refund of premium(s) paid, excluding taxes, extra premium, and rider premium(s), if any), without interest.

Maturity Benefit:

If the life assured survives the stipulated date of maturity, Sum Assured on Maturity will be paid to him/her, which is equal to Basic Sum Assured.

LIC’s Dhan Vriddhi

Salient Features & Benefits Of LIC Dhan Vriddhi Plan

Listed below are some of the top key features and benefits of the LIC Dhan Vriddhi Plan:

Flexibility Of 2 Options: Subject to specific qualifying requirements, the plan has two alternatives to choose from, each offering a different level of protection. In the first option, the basic sum assured’s death benefit can be up to 1.25 times the “tabular” premium. The second choice allows for a death benefit that is 10 times the tabular premium for the selected basic sum insured.

Surrender Benefit: At any point throughout the policy term, the policyholder may surrender the coverage. When a policy is surrendered, the company will pay the higher of the guaranteed surrender value or the special surrender value as the surrender value.

Loan Facility: A loan facility shall be made available under the plan anytime after 3 months of the date of issuance of the policy.

Death Benefits: The “Sum Assured on Death” and “Accrued Guaranteed Additions” are payable upon the death of the life assured within the policy period following the date of beginning of risk but prior to the specified date of maturity. The “Sum Assured on Death” for both the options stated in the first point above.

Maturity Benefit: ‘Basic Sum Assured’ and ‘Accrued Guaranteed Additions’ will be paid if the life assured survives the designated date of maturity.

Guaranteed Additions: Throughout the policy term, the ‘Guaranteed Additions’ will accrue after each policy year. The ‘Basic Sum Assured’, the ‘Policy Term’, and the ‘Option Selected’ will all affect the ‘Guaranteed Additions’. The rates for GA are shown below:

LIC’s New Endowment Plan

Benefits Offered By LIC New Endowment Plan
The benefits of LIC’s New Endowment Plan, which make it a popular choice among insurance seekers, are listed below:

Death Benefit

If the life insured dies within the policy term, the nominee will receive the “Sum Assured on Death” plus any vested bonuses as a death benefit, and the policy will be terminated. The basic sum assured or 10 times the annualized premium, whichever is greater, is the sum assured on death, subject to a minimum of 105 % of all premiums paid.

Maturity Benefit

At the end of the policy term, the policyholder receives a maturity benefit from LIC’s New Endowment Plan. If the policyholder lives to the end of the plan and pays all of his premiums on time, he is eligible for the maturity benefit. The maturity benefit is a lump-sum payment equal to the basic sum assured plus the reversionary bonus.

LIC’s Jeevan Lakshya

Benefits of LIC Jeevan Lakshya Policy

LIC Jeevan Lakshya Policy has come up with a bunch of benefits to offer you protection and savings facilities. To more about its benefits in detail, have a look at the below mentions.

Death Benefit – In case of unfortunate demise of the Life Assured before the maturity date of an active policy, the beneficiary or nominee is entitled to get the death benefits. The amount of death benefit will not be less than 105% of total premiums paid up to the date of death of the insured person. The death benefits include the following:

Sum Assured on Death. It refers to either 7 times of annualized premium or Sum of 110% of Basic Sum Assured and Annual Income Benefit equal to 10% of the Basic Sum Assured, whichever is higher.
Vested Simple Reversionary Bonuses and,
Final Additional Bonus

It has to be remembered that Simple Reversionary Bonuses and Final Additional Bonus will be paid only on the due date of maturity.

Maturity Benefit – In case of survival of the Life Assured through the entire policy period of an active policy, he/she is entitled to receive the maturity benefits. The maturity benefit refers to the following in total.

Sum Assured on Maturity. It is equal to the Basic Sum Assured.
Vested Simple Reversionary Bonuses and,
Final Additional Bonus

LIC’s Jeevan Labh

Features Of The LIC Jeevan Labh Policy

Some of the key features of LIC Jeevan Labh policy are as follows:

Tax Benefits: As per the relevant sections of Income Tax Act 1864, tax benefits are available under the LIC Jeevan Labh policy. Under Section 80C of the Income Tax Act, 1961, the premiums paid for LIC’s Jeevan Labh policy are tax-free. Furthermore, under Section 10(10D) of the Income Tax Act of 1961, the maturity amount is tax-free. The amount of tax paid will not be taken into account when calculating the plan’s benefits.

Death Benefit: The total of the ‘Sum Assured on Death’, ‘Simple Reversionary Bonuses’, and the ‘Final Additional Bonus’ is handed out as death benefits (if any) to the policyholder. The higher of the 10 times annual premium paid or the basic sum assured is the ‘Sum Assured on Death’. The death benefit will not be less than 105 % premiums paid as of the death date.

Maturity Benefit: The policyholder will receive the amount assured on maturity as a lump sum at the policy’s maturity, which is equal to the ‘Basic Sum Assured’ plus any vested ‘Simple Reversionary Bonuses’ and ‘Final Additional Bonuses’.

LIC’s Aadhaar Stambh

Features and Benefits of LIC AadhaarStambh Plan

LIC AadhaarStambh has presented a sack full of different benefits and facilities. To know more about its advantages and key features, have a look at the below mentions.

Death Benefit:

On death during the first five years – In case of the unfortunate and untimely demise of the life assured before the date of maturity, during the first five years of the policy, Sum Assured on Death will be paid to the beneficiary of the policyholder. In this case, the policy should be an active one,

On death after the completion of five policy years – In that case, on the demise of the life assured, the Sum Assured on Death along with loyalty addition have to be paid by the Corporation. Remember, in this case too, the policy should be in force which means all the due premiums should be paid.

The death benefit should not be less than 105% of total premiums paid up to the date of death. And this premium does not include any taxes, extra premium, and rider premium.

Maturity Benefit:

This is an endowment plan, so certainly this plan comes with maturity benefits. But, it has conditions like, the life assured has to survive the entire policy tenure and the policy should be active which means all the due premiums should be paid clearly. Only after fulfilling these conditions, one is eligible to receive the maturity benefit that is the compilation of Sum Assured on Maturity and loyalty additions. This Sum Assured on Maturity is equal to the basic sum insured.

LIC’s Aadhaar Shila

Features & Benefits Of LIC AdhaarShila Policy

The LIC AdhaarShila plan comes with a list of very useful features which are listed below. Let’s take a look at these features to understand this plan better.

Death Benefits: The LIC AdhaarShila plan offers death benefit which is payable to the nominee or family members of the policyholder upon death of the life assured during the policy term. If the policyholder dies during the first five years of the policy term, the sum assured amount on death is payable to their beneficiary. If death of the policyholder happens after the completion of five policy years but before the date of maturity, then the sum assured on death and loyalty addition, if any, is paid.

Maturity Benefits: Another important feature of this plan is that it provides policyholders with a maturity benefit amount that is paid when the life assured survives to the end of the policy term, provided all due premiums have been paid and the policy is in-force. The benefit amount paid equals the sum assured amount on maturity and includes loyalty additional profits as well.

Maturity Benefit in installments:Another interesting feature of the LIC AadhaarShila plan is that it provides customers with the flexibility to receive their maturity benefit in installments over the chosen period of 5, 10 or 15 years instead of lumpsum amount.
The installments shall be paid in advance at intervals, as opted for, subject to minimum installment amount for different modes of payments being as under: