LIC Jeevan Labh Plan 836

LIC Jeevan Labh Plan 836

LIC Jeevan Labh Plan 836  benefits are payable under this policy:

LIC Jeevan Labh Plan 836 Maturity Benefit: On Life Assured surviving the stipulated Date of Maturity provided the policy is in force, Sum Assured on Maturity along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable

Death Benefit: On the death of the Life Assured before the stipulated Date of Maturity provided the policy is in force, then Death Benefit, defined as the sum of “Sum Assured on Death”, vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable. Where “Sum Assured on Death” is defined as higher of Absolute amount assured to be paid on death i.e. Basic Sum Assured or 10 times of Annualized Premium. This Death Benefit shall not be less than 105% of the total Premiums paid excluding extra amount if charged under the policy due to underwriting decisions and Rider Premium(s), if any, as on date of death.

Accidental Death, Disability Benefit Rider, Term rider optionally available.

Minimum Age at entry for Life Assured : [8] years (completed)

Maximum Age at entry for Life Assured : [59] years (nbd) for Policy Term 16 years
[54] years (nbd) for Policy Term 21 years & [50] years (nbd) for Policy Term 25 years

Maximum Age at Maturity for Life Assured: [75] years (nbd)

Policy Term/Premium Paying Term : [16/10,21/15 and 25/16] years

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

Maximum Basic Sum Assured: No Limit

 Death of the Life Assured: In addition to Death Benefi t under the Base Policy, an additional sum equal to the Accident Benefit Sum Assured shall be payable under this policy. However, the policy shall have to be in force at the time of accident irrespective of whether or not it is in force at the time of death. The Corporation shall not be liable to pay the additional sum
referred to (a) or (b) above, if the disability or the death of the Life Assured shall:
(i) be caused by intentional self-injury, attempted suicide, insanity or immorality or whilst the Life Assured is under the
influence or consumption of intoxicating liquor, narcotic or drug (unless prescribed by the doctor as a part of treatment); or
(ii) be caused by injuries resulting from taking any part in riots, civil commotion, rebellion, war (whether war be declared or
not), invasion, hunting, mountaineering, steeplechasing, racing of any kind, paragliding or parachuting, taking part in
adventurous sports; or
(iii) the result from the Life Assured committing any criminal act with
criminal intent; or
(iv) (a) arise from the employment of the Life Assured in the armed forces or military service. This exclusion is not applicable
if the Life Assured was involved in an accident when he is not on duty or was involved in any rescue operations while
combating natural calamities in our country; or
(b) arise from being engaged in police duty (which excludes administrative assignments) in any police organization
other than paramilitary forces. This exclusion is not applicable where the option to cover Accidental Death
and Disability Benefit arising from the accident while engaged in police duty has been chosen; or
(v) occur after 180 days from the date of accident of the Life Assured.

Benefits payable on surrender of Base Policy: This rider shall not acquire any Paid-up Value and no surrender value will be available under this rider. However, if this rider has been opted for and on surrender of the Base Policy to which this rider is attached, provided all the due premiums in respect of this rider and Base Policy have been paid and the Base Policy has acquired surrender value, additional rider premium charged in respect of cover after premium paying term shall be refunded as follows:
In case of Surrender during Premium Paying Term: 80% * (annualized rider premium per Rs. 1000 Accident Benefit Sum
Assured – 1) * (Accident Benefit Sum Assured/1000) * (Number of years for which premiums in respect of this rider have been paid) In case of Surrender after Premium Paying Term: 80% * (annualized rider premium per Rs. 1000 Accident Benefit Sum Assured – 1) *

LIC Jeevan Labh Plan 836

LIC Jeevan Labh Plan 836