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Features of Plan: This plan is suitable for
people of all ages who to protect their families from
financial setback that may occur owing to their premature
death. It covers the risk as long as the policyholder
is alive. The premium is also payable throughout your
lifetime. Under LIC'S latest guidelines premiums under
this policy are payable up to the age of 80 yrs. Or
on expiry of term of 40 years whichever is later. The
policyholder has an option to take the maturity benefits
at a later date or on death. The bonus will continue
till the policyholder takes the maturity benefits at
a later date or on death. the bonus will continue till
the policyholder.
Benefits
Survival Benefit: S.A. + Accrued Bonuses and Terminal
Bonuses, if any on the policyholder attaining age 80
year or on expiry of term of 40 year from Date of Commencement
(DOC) of the policy whichever is later.
Death Benefit:
S.A. + Accrued Bonuses, if any, on the death of the
policyholder are paid to his/her nominees/heirs.
Example:
At the age of 30, Mr. Rajesh invests in a whole Life
plan (with profits) for S.A. Rs.2lac. he pays an annual
premium of Rs.4941/- in case of his death in the 10th
year his family will receive an amount of Rs.3,42,000
+ FAB, if any ( S.A. i.e. Rs.2Lac + Bonus as per rates
of 2005 i.e. Rs.71per thousand SA per annum i.e. 71*
200*10=1,42,000+FAB,if any)
On Maturity, at the age of 70 years, he will get Rs.71,68,000
+FAB, if any (SA 2 Lac + Bonus as per rates of 2005
i.e. 71x 200 x 40 = 5,68,000 + FAB, if any). Moreover,
the risk is covered throughout the life of policyholder.
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