PART – B : DEFINITIONS
^mJ - ~r : n[a^mfmE±
Bg nm°{bgr _| à`wŠV nm[a^m{fH$ eãX/eãXm| H$s n[a^mfmE§ {ZåZ àH$ma h¢:
1. Am`w nm{°bgr H$o àma^§ hmZoo H$o g_` ~r{_V ì`pŠV H$o {ZH$Q>V_ OÝ_ {Xdg na
CgH$s Am`w h&¡ b{oH$Z 18 df© H$s Am`w H$o {bE `h nUy© dm{fH©$ df© _| hmJor&
2. {Z`wŠV dh ì`pŠV h¡ {OgH$mo, nm°{bgr Ho$ A§VJ©V gw{Z{üV àm{á`m|/
{hVbm^ H$m ^wJVmZ Xo` h¡, `{X {hVbm^ Zm_m§{H$V ì`pŠV H$mo Xo` h¡ Am¡a
Xmdo H$s ^wJVmZ VmarI na dh Zm~m{bJ h¡&
3. dm{f©H$sH¥$V àr{_`_ ~r{_V ì`pŠV Ûmam MwZr JB© ~r_m àr{_`_ hmoJr Am¡a
Cg_| H$moB© H$a, ~r_mboIZ {ZU©` Ho$ H$maU {bE OmZo dmbr A{V[aŠV am{e
Am¡a `{X H$moB© AZwd¥{Õ àr{_`_ hmo, em{_b Zht h¡&
4. g_ZwXo{eVr dh ì`pŠV h¡ {Ogo EH$ g_ZwXoeZ Ho$ AmYma na A{YH$ma Am¡a
{hVbm^ hñVm§V[aV {H$E JE h¢&
5. g_ZwXoeZ {H$gr ''g_ZwXo{eVr'' H$mo A{YH$ma Am¡a {hVbm^m| H$mo
hñVm§V[aV H$aZo H$s à{H«$`m h¡& g_ZwXoeZ, g_`-g_` na g§emo{YV ~r_m
A{Y{Z`_, 1938 H$s Ymam 38 Ho$ àmdYmZm| Ho$ AZwgma hmoZm Mm{hE&
6. _yb nm°{bgr, nm°{bgr H$m dh ^mJ h¡, {Og_| _yb {hVbm^m| H$m C„oI {H$`m
J`m h¡ (`{X AZwd¥{Õ H$m M`Z {H$`m J`m h¡ Vmo CgHo$ A§VJ©V Amd[aV
{hVbm^m| H$mo N>mo‹S>H$a, Cg nm°{bgr _| C{„pIV {hVbm^)&
7. _yb ~r_m am{e H$m AW© Cg am{e go h¡ Omo AZwgyMr _| {d{Z{X©ï> h¡ Am¡a
nm°{bgr boZo Ho$ g_` {OgH$m M`Z nm°{bgrYmaH$ Zo {H$`m h¡&
8. bm^mWu/XmdmH$Vm© H$m AW© Cg ì`pŠV go h¡, Omo Bg nm°{bgr Ho$ A§VJ©V
{hVbm^ àmá H$aZo H$m A{YH$mar hmo & bm^mWu, {hVbm^ {Ogo Xo` h¡, dh
h¡ àñVmdH$ `m ~r{_V `m ~r_m A{Y{Z`_ 1938 H$s Ymam 38 Ho$ A§VJ©V
CgHo$ g_ZwXo{eV H$mo `m g_` g_` na g§emo{YV ~r_m A{Y{Z`_ 1938
H$s Ymam 39 Ho$ A§VJ©V Zm{_Vm| `m à_m{UV {ZînmXH$m| `m àemgH$m| `m
AÝ` d¡Ym{ZH$ à{V{Z{Y`m|, {OÝhm|Zo CgH$s g§nXm `m Bg nm°{bgr Ho$
A§VJ©V Xo` am{e _mÌ Ho$ {bE ^maVr` g§K Ho$ {H$gr amÁ` `m g§K em{gV
àXoe Ho$ {H$gr Ý`m`mb`, Omo ^r bmJy hmo, go AnZo à{V{Z{Y hmoZo H$m
à_mUnÌ àmá {H$`m h¡&
9. {Za§Va ~r_m`mo½`Vm, `{X {H$gr AZwd¥{Õ H$m M`Z {H$`m J`m h¡ Vmo CgHo$
g{hV nm°{bgr Ho$ nwZM©bZ {H$E OmZo na {ZJ_ Ho$ g§Vw{ï> Ho$ AZwgma ~r{_V
ì`pŠV/àñVmdH$ H$s ~r_m`mo½`Vm H$m {ZYm©aU h¡ Omo nhbo go CnbãY
gyMZm, XñVmdoOm| Am¡a [anmoQ>m] na VWm nwZM©bZ Ho$ g_` {ZJ_ H$s
~r_mboIZ Zr{V Ho$ AZwgma Bg g§~§Y _| _m§Jr JB© A{V[aŠV gyMZm na
{Z^©a hmoJr&
10. {ZJ_ H$m AW©, OrdZ ~r_m A{Y{Z`_, 1956 H$s Ymam 3 Ho$ A§VJ©V
ñWm{nV ^maVr` OrdZ ~r_m {ZJ_ h¡&
11. nm°{bgr àma§^ hmoZo H$s VmarI Bg nm°{bgr H$s àma§^-VmarI h¡&
12. OmopI_ àma§^ hmoZo H$s VmarI dh VmarI h¡, {Og na {ZJ_, ~r_m (gwajm)
Ho$ {bE OmopI_ H$mo ñdrH¥$V H$aVm h¡, O¡gm{H$ Bg nm°{bgr H$s AZwgyMr _|
Xem©`m J`m h¡&
13. nm°{bgr Omar H$aZo H$s VmarI dh VmarI h¡, O~ ~r_mboIZ Ho$ nümV²
àñVmd H$mo nm°{bgr Ho$ ê$n _| ñdrH$ma H$a {b`m J`m h¡ Am¡a `h g§{dXm
Mmby hmo J`m h¡&
The definitions of terms/words used in the Policy Document
are as under:
1. Age is the age nearer birthday of the Life Assured at the time of
commencement of the policy except for age 18 years for which
the age is in completed years.
2. Appointee is the person to whom the proceeds/benefits
secured under the Policy are payable if the benefit becomes
payable to the nominee and nominee is minor as on the date of
claim payment.
3. Annualized Premium shall be the premium amount payable
in a year chosen by the policyholder, excluding the taxes, rider
premiums, underwriting extra premiums and loadings for
modal premiums, if any.
4. Assignee is the person to whom the rights and benefits are
transferred by virtue of an Assignment.
5. Assignment is the process of transferring the rights and
benefits to an “Assignee”. Assignment should be in
accordance with the provisions of Section 38 of Insurance Act,
1938 as amended from time to time.
6. Base Policy is that part of the Policy referring to basic benefit
(benefits referred to in this Policy Document excluding benefits
covered under Rider(s), if opted for).
7. Basic Sum Assured means the amount specified in the
Schedule as opted by the Policyholder at the time of taking the
policy.
8. Beneficiary/Claimant means the person(s)/entity who is/are
entitled to receive benefits under this Policy. The Beneficiary to
whom benefits are payable is the Proposer or Life Assured or
his Assignee under Section 38 of the Insurance Act, 1938, as
amended from time to time or Nominee(s) under Section 39 of
the Insurance Act, 1938, as amended from time to time or
proved Executors or Administrators or other Legal
Representatives who should take out representation to his/ her
Estate or limited to the moneys payable under this Policy from
any Court of any State or Territory of the Union of India, as
applicable.
9. Continued Insurability is the determination of insurability of
Life Assured/Proposer on revival of policy with rider(s) if opted
for, to the satisfaction of the Corporation based on the
information, documents and reports that are already available
and any additional information in this regard if and as may be
required in accordance with the Underwriting Policy of the
Corporation at the time of revival.
10. Corporation means the Life Insurance Corporation of India
established under Section 3 of the LIC Act, 1956.
11. Date of commencement of policy is the start date of this Policy.
12. Date of commencement of risk is the date on which the
Corporation accepts the risk for insurance (cover) as
evidenced in the Schedule of the policy.
13. Date of issuance of policy is a date when a proposal after
underwriting is accepted as a policy and this contract gets
effected.
14. n[an¹$Vm H$s VmarI AZwgyMr _| {d{Z{X©ï> dh VmarI h¡ O~ nm°{bgr Ad{Y
nyar hmoVr h¡&
14. Date of Maturity means the date specified in the Schedule on
which the Policy Term is completed.
15. _¥Ë`w {hVbm^ dh {hVbm^ h¡, Omo ~r{_V ì`pŠV H$s _¥Ë`w na Xo` hmoVm h¡,
O¡gm{H$ Bg nm°{bgr XñVmdoO Ho$ ^mJ 'gr' H$s eV© 2 _| {d{Z{X©ï> h¡&
15. Death Benefit means the benefit, which is payable on death as
specified in Condition 2 of Part C of this Policy Document.
16. {d_wpŠV ànÌ dh ànÌ h¡ Omo Bg nm°{bgr Ho$ A§VJ©V n[an¹$Vm/ Aä`n©U/
_¥Ë`w {hVbm^ H$m Xmdm H$aZo Ho$ {bE nm°{bgrYmaH$/XmdmH$Vm© H$mo ^aZm
hmoVm h¡&
16. Discharge form is the form to be filled by policyholder/
claimant to claim the maturity / surrender / death benefit under
the policy.
17. {Z`V VmarI dh {Z`V VmarI h¡ O~ àr{_`_ Xo` hmoVm h¡ Am¡a
nm°{bgrYmaH$ Ûmam AXm H$a {X`m OmZm Mm{hE&
18. n¥ð>m§H$Z H$m AW© do eV] h¢, Omo Bg nm°{bgr Ho$ gmW g§b¾ h¢ Am¡a {OZHo$
Ûmam {ZJ_ Zo nm°{bgr _| gh_{Vnyd©H$ g§emoYZ AWdm gwYma {H$E h¢&
19. A{V[aŠV àr{_`_ dh à^ma h¡ Omo ~r_mboIZ {ZU©` Ho$ H$maU {H$gr Eogo
A{V[aŠV OmopI_ Ho$ {bE {b`m OmVm h¡ Omo Ý`yZV_ g§{dXm àr{_`_ _| Zht
{X`m J`m h¡&
20. A§{V_ A{V[aŠV ~moZg {Ogo A§{V_ ~moZg ^r H$hm OmVm h¡, dh A{V[aŠV
am{e h¡ Omo nm°{bgr g_m{á na gmYmaU àË`mdVu ~moZg Ho$ gmW Xo` hmoVr
h¡ ~eV} {H$ Eogm A§{V_ A{V[aŠV ~moZg {ZJ_ Ûmam Kmo{fV {H$`m J`m hmo
Am¡a nm°{bgr Eogo A§{V_ A{V[aŠV ~moZg Ho$ {bE J«mø hmo&
LIC's Jeevan Lakshya
17. Due Date means a fixed date on which the policy premium is
due and payable by the policyholder.
18. Endorsement means conditions attached/ affixed to this
Policy incorporating any amendments or modifications agreed
to or issued by the Corporation.
19. Extra Premium means a charge due to underwriting decision,
for any additional risk not provided for in minimum contract
premium.
20. Final Additional Bonus, also called as Terminal Bonus, is an
additional amount payable along with the Simple Reversionary
Bonus when the policy terminates, provided such a Final
Additional Bonus is declared by the Corporation and the policy
is eligible for such Final Additional Bonus.
Page 5 of 20
Plan No.- 933
21. nyd©-g_mnZ, Xo` VmarI na ~H$m`m F$U Am¡a/AWdm F$U Ho$ ã`mO Ho$
^wJVmZ _| MyH$ hmoZo Ho$ H$maU nm°{bgr Ho$ ~§X H$aZo H$s H$ma©dmB© h¡ O~{H$
~H$m`m F$U Am¡a CgHo$ ã`mO H$s am{e Aä`n©U _yë` go A{YH$ hmo OmE&
21. Foreclosure is an action of closing the policy due to default in
payment of outstanding loan and/or loan interest on due date
when the outstanding loan amount along with interest is to
exceed the surrender value.
22. {Z:ewëH$ AdbmoH$Z Ad{Y nm°{bgrYmaH$ Ûmam nm°{bgr àmá H$aZo H$s
VmarI Ho$ ~mX 15 {XZm| H$s dh Ad{Y h¡, {OgHo$ Xm¡amZ dh nm°{bgr Ho$
{Z`_/eVm] H$m nwZamdbmoH$Z H$a gH$Vm h¡ Am¡a `{X nm°{bgrYmaH$ {H$gr
{Z`_/ eV© go gh_V Zht h¡ Vmo CgHo$ nmg nm°{bgr dmng H$aZo H$m
{dH$ën h¡&
22. Free Look Period is the period of 15 days from the date of
receipt of the Policy Document by the Policyholder to review
the terms and conditions of this policy and where the
Policyholder disagrees to any of those terms and conditions,
he/ she has the option to return this policy.
23. AZwJ«h Ad{Y {H$gr Ow_m©Zo `m {db§~ ewëH$ Ho$ {~Zm àr{_`_ AXm H$aZo Ho$
{bE {Z`V VmarI Ho$ ~mX ~r_mH$Vm© Ûmam {X`m J`m dh A{V[aŠV g_` h¡,
{OgHo$ Xm¡amZ nm°{bgr ~r_m gwajm Ho$ gmW Mmby _mZr OmVr h¡ Am¡a nm°{bgr
Ho$ {Z`_/ eVm] Ho$ AZwgma Cg_| H$moB© ì`dYmZ Zht AmVm&
24. Jma§Q>rH¥$V Aä`n©U _yë`, nm°{bgr Aä`{n©V {H$E OmZo na nm°{bgrYmaH$ H$mo
Xo` Aä`n©U _yë` H$s Ý`yZV_ Jma§Q>rH¥$V am{e h¡&
25. Mmby nm°{bgr Eogr nm°{bgr h¡, {Og na g^r Xo` àr{_`_ AXm H$a {XE JE
h¢ Am¡a AZwJ«h Ad{Y go A{YH$ g_` Ho$ {bE àr{_`_ ~H$m`m Zht h¢&
26. AmBA
© maS>rEAmB© H$m AW© ^maVr` ~r_m {d{Z`m_H$ Ed§ {dH$mg àm{YH$aU h,¡
{Ogo nhbo ~r_m {d{Z`m_H$ Ed§ {dH$mg àm{YH$aU (AmBA
© maS>rE) H$hm OmVm
Wm&
27. ''H$mbmVrV'' nm°{bgr H$s dh AdñWm h¡ O~ AZwJ«h Ad{Y Ho$ Xm¡amZ Xo`
àr{_`_ H$m ^wJVmZ Z {H$`m J`m hmo&
28. ~r{_V ì`pŠV dh ì`pŠV h¡, {OgHo$ OrdZ na ~r_m gwajm ñdrH¥$V {H$`m
J`m h¡&
29. F$U, {ZJ_ Ûmam nm°{bgrYmaH$ H$mo Aä`n©U _yë` Ho$ EdO _| Xo` dh am{e
h¡, Omo ã`mO g{hV MwH$mB© OmZr h¡&
30. n[an¹$Vm {hVbm^ dh {hVbm^ h¡ Omo nm°{bgr Ho$ n[an¹$ hmoZo na Xo` hmoVm
h¡, O¡gm{H$ Bg nm°{bgr XñVmdoO Ho$ ^mJ 'gr' H$s eV© 1 _| {d{Z{X©ï> h¡&
31. _hËdnyU© gyMZm nm°{bgr boZo Ho$ g_` ~r{_V ì`pŠV nm°{bgrYmaH$/
àñVmdH$ H$mo nhbo go hr kmV dh gyMZm h¡, Omo àñVwV {H$E JE àñVmd/
nm°{bgr Ho$ ~r_mboIZ H$mo à^m{dV H$aVr h¡&
32. Zm~m{bJ dh ì`pŠV h¡, {OgZo 18 df© H$s Am`w nyar Zht H$s h¡&
33. Zm_m§H$Z dh à{H«$`m h¡, {OgHo$ Ûmam àñVmd-nÌ _| {H$gr ì`pŠV/
ì`pŠV`m| H$mo ''Zm{_Vr'' Ho$ ê$n _| XO© {H$`m J`m hmo AWdm ~mX _| n¥ð>m§H$Z
Ho$ _mÜ`_ go em{_b {H$`m J`m hmo/~Xbm J`m hmo& Zm_m§H$Z g_`-g_`
na g§emo{YV ~r_m A{Y{Z`_, 1938 H$s Ymam 39 Ho$ AZwgma hmoZm Mm{hE&
23. Grace period is the time granted by the insurer from the due
date for the payment of premium, without any penalty or late
fee, during which time the policy is considered to be in-force
with the risk cover without any interruption.
24. Guaranteed Surrender Value is the minimum guaranteed
amount of Surrender Value payable to the Policyholder on
surrender of the policy.
25. In-force Policy means a policy in which all the due premiums
have been paid and the premiums are not outstanding beyond
grace period.
26. IRDAI means Insurance Regulatory and Development
Authority of India earlier called Insurance Regulatory and
Development Authority (IRDA).
27. Lapse is the status of the Policy when a due premium is not
paid within the grace period.
28. Life Assured is the person on whose life the insurance cover
has been accepted.
29. Loan is the interest bearing repayable amount granted by the
Corporation against the surrender value payable to the
policyholder.
30. Maturity Benefit means the benefit, which is payable on
maturity as specified in Condition 1 of Part C of this Policy
Document.
31. Material information is the information already known to the
Policyholder/Life Assured at the time of obtaining a policy
which has a bearing on underwriting of the proposal /Policy
submitted.
32. Minor is a person who has not completed 18 years of age.
33. Nomination is the process of nominating a person who is(are)
named as “Nominee(s)” in the proposal form or subsequently
included/changed by an endorsement. Nomination should be
in accordance with provision of Section 39 of the Insurance Act,
1938 as amended from time to time.
34. Zm{_Vr Bg nm{°bgr H$o AV§JV© nm{°bgrYmaH$ (Omo ~r{_V ì`pŠV ^r h)¡ Ûmam
Zm{_V ì`pŠV h/¡h,¢ Omo Bg nm{°bgr H$o AV§JV© X`o Xmdm {hVbm^ àmá H$aZo
Ama¡ Xmdo H$o {ZnQ>mZ na {ZJ_ H$mo dY¡ {d_mMoZ XZoo H$o {bE àm{YH$¥V h/¡h&¢
34. Nominee(s) means the person(s) nominated by the
Policyholder (who is also the Life Assured) under this Policy
who is (are) authorised to receive the claim benefit payable
under this Policy and to give a valid discharge to the
Corporation on settlement of the claim.
35. _¥Ë`w {hVbm^ {H$íVm| _| boZo H$m {dH$ën: Bg nm°{bgr XñVmdoO Ho$ ^mJ
'S>r' H$s eV© 8 Ho$ {d{ZX}e Ho$ AZwgma, _¥Ë`w {hVbm^ {H$íVm| _| àmá H$aZo
H$m {dH$ën Bg nm°{bgr Ho$ A§VJ©V CnbãY EH$ {dH$ën h¡, {OgHo$ AZwgma
_¥Ë`w {hVbm^ EH$_wíV boZo Ho$ ~Om`, nm°{bgrYmaH$ Ûmam MwZr JB© g_`Ad{Y _| {H$íVm| _| {b`m Om gH$Vm h¡&
35. Option to take Death Benefit in instalments: Option to take
death benefit in instalments, as specified in Condition 8 of Part
D of this Policy Document, is an option available under this
Policy, to receive Death Benefit in instalments instead of
lumpsum amount over a period chosen by the Policyholder/
Life Assured.
36. ^mJrXma nm°{bgr H$m AW©, Cg nm°{bgr go h¡, Omo nm°{bgr Ho$ {Z`_/eVm]
Ho$ AZwgma CËnÞ ~MV (bm^) Ho$ {H$gr ^mJ Ho$ {bE hH$Xma hmo&
36. Participating policy means a Policy is eligible for share of
profit depending upon the Corporation’s experience in
accordance with the terms and conditions of the policy.
37. àXÎm nm°{bgr H$s dh AdñWm h¡, O~ àr{_`_ H$_ go H$_ Xmo nyU© dfm] Ho$
{bE AXm H$a Xr JB© hmo Am¡a CgHo$ ~mX H$s àr{_`_ AXm Z H$s JB© hmo&
37. Paid - Up is the status of the Policy, if the premiums are paid for
at least two full years and subsequent premiums/s be not paid.
38. nm°{bgr H$s df©Jm§R> H$m AW©, nm°{bgr àma§^ hmoZo H$s VmarI go EH$ df© Am¡a
CgHo$ ~mX nm°{bgr n[an¹$ hmoZo H$s VmarI VH$, àË`oH$ df© AmZo dmbr dhr
VmarI h¡&
39. nm{°bgr/nm{°bgr XñVmdO
o {ZJ_ Ûmam Omar `h XñVmdO
o Ama¡ nð¥>mH§$Z (`{X
H$mBo© hm)o h,¡ Omo nm{°bgrYmaH$ Ama¡ {ZJ_ H$o ~rM EH$ H$mZZyr H$ama h&¡
40. nm°{bgrYmaH$ Bg nm°{bgr H$m H$mZyZr _m{cH$ h¡&
41. nm°{bgr Ad{Y nm°{bgr àma§^ hmoZo H$s VmarI go n[an¹$Vm H$s VmarI VH$
dfm] _| ì`ŠV dh Ad{Y h¡ Omo nm°{bgrYmaH$ Zo MwZr h¡ Am¡a Omo AZwgyMr _|
{d{Z{X©ï> h¡&
38. Policy Anniversary means one year from the date of
commencement of the Policy and the same date falling each
year thereafter, till the date of maturity.
39. Policy/ Policy Document means this document along with
endorsements, if any, issued by the Corporation which is a
legal contract between the Policyholder and the Corporation.
40. Policyholder is the legal owner of this policy.
41. Policy term is the period, in years, as chosen by the
policyholder and mentioned in the Schedule, commencing
from the Date of commencement of policy to the Date of
Maturity.
42. nm°{bgr df© Xmo bJmVma nm°{bgr df©Jm§R>m| Ho$ ~rM H$m g_` h¡& Bg Ad{Y _|
nhbm {XZ em{_b h¡, qH$Vw AJbr df©Jm§R> H$m {XZ em{_b Zht h¡&
42. Policy year is the period between two consecutive policy
anniversaries. This period includes the first day and excludes
the next policy anniversary day.
43. àr{_`_, Bg nm°{bgr Ho$ A§VJ©V {hVbm^ gw{Z{üV H$aZo Ho$ {bE, Bg
nm°{bgr XñVmdoO H$s AZwgyMr _| C{„pIV dh g§{dXmJV am{e h¡ Omo
43. Premium is the contractual amount payable by the
Policyholder at specified times periodically as mentioned in the
Schedule of this Policy Document to secure the benefits under
LIC's Jeevan Lakshya
Page 6 of 20
Plan No.- 933
nm°{bgrYmaH$ Ûmam Amd{YH$ ê$n go {d{Z{X©ï> g_`m| na AXm H$s OmZr h¡&
Xo` àr{_`_ ''Hw$b {H$íV àr{_`_'' hmoJm, {Og_| {ZåZ{bpIV àr{_`_
em{_b h¢:
•
_yb nm°{bgr Ho$ {bE {H$íV àr{_`_; Am¡a
•
`{X AZwd¥{Õ(`m|) H$m M`Z {H$`m J`m h¡ Vmo AZwd¥{Õ(`m|) Ho$ {bE
{H$íV àr{_`_
Bg nm°{bgr XñVmdoO _| H$ht na ^r à`wŠV ''àr{_`_'' eãX _| H$moB© H$a
em{_b Zht h¡, CZH$m ^wJVmZ AbJ go {H$`m OmZm h¡&
44. àr{_`_ ^wJVmZ Ad{Y H$m AW© dfm] _| dh Ad{Y h¡, {OgHo$ Xm¡amZ
àr{_`_ Xo` h¡&
45. àñVmdH$ OrdZ ~r_m Ho$ àñVmd H$mo àñVwV H$aZo dmbm ì`pŠV h¡&
46. nwZM©bZ àr{_`_ H$s J¡a-AXm`Jr Ho$ H$maU g_má H$s JB© nm°{bgr Ho$
nwZM©bZ H$m AW© h¡ ~r{_V ì`pŠV H$s {Za§Va ~r_m`mo½`Vm (D$na _|
n[a^m{fV) Ho$ {df` _| g§Vwï> hmoH$a, nm°{bgr Ho$ {Z`_/ eVm] Ho$ AZwgma
g^r Xo` àr{_`_ VWm AÝ` à^ma/{db§~ ewëH$, `{X H$moB© hmo, boH$a
~r_mH$Vm© Ûmam nm°{bgr XñVmdoO _| Cëbo{IV g^r {hVbm^m| Ho$ gmW,
AZwd¥{Õ {hVbm^m| AJa H$moB© hmo, Ho$ gmW `m ~J¡a, nm°{bgr H$mo {\$a go
~hmb H$aZm&
47. nZwMb
© Z Ad{Y nhbr AXÎm àr{_`_ H$s VmarI go nmM§ {ZaV§a df© H$s dh
Ad{Y h¡ {OgH$o Xma¡mZ nm{°bgrYmaH$ H$mo Cg nm{°bgr H$mo nZwM{©bV H$amZo H$m
A{YH$ma hmJom, Omo àr{_`_ AXm Z H$aZo H$o H$maU g_má H$a Xr JB© Wr&
the policy. The premium payable will be “Total Instalment
Premium” which includes
•
Instalment Premium for Base Policy and
• Instalment Premium for Rider(s), if rider(s) has been opted
for.
The term ‘Premium’ used anywhere in this Policy Document
does not include any taxes which is payable separately.
44. Premium paying term means the period, in years, during
which premiums are payable.
45. Proposer is a person who proposes the life insurance proposal.
46. Revival of a policy means restoration of the policy, which was
discontinued due to the non-payment of premium, by the
insurer with all the benefits mentioned in the policy document,
with or without rider benefits if any, upon the receipt of all the
premiums due and other charges or late fee, if any, as per the
terms and conditions of the policy, upon being satisfied as to
the Continued Insurability (as defined above) of the Life
Assured.
47. Revival Period means the period of five consecutive years
from the date of first unpaid premium, during which period the
policyholder is entitled to revive the policy which was
discontinued due to the non-payment of premium.
48. Rider is an additional cover which can be opted for along with
base plan.
48. AZwd¥{Õ dh A{V[aŠV gwajm h¡ {OgH$m M`Z _yb `moOZm Ho$ gmW {H$`m
Om gH$Vm h¡&
49. Rider Benefits means an amount of benefit payable on a
specified event offered under the rider, and is allowed as addon benefit to benefit under Base Policy.
49. AZwd¥{Õ {hVbm^ H$m AW© {hVbm^ H$s dh am{e h¡ Omo AZwd¥{Õ Ho$ A§VJ©V
àXÎm KQ>Zm hmoZo na Xo` h¡ Am¡a `h _yb nm°{bgr Ho$ {hVbm^m| na A{V[aŠV
{hVbm^ Ho$ ê$n _| {X`m OmVm h¡ &
50. Rider Premium is the premium payable by the policyholder
along with the premium under Base Policy towards the
additional cover/benefit opted under the rider, if opted.
50. AZwd¥{Õ àr{_`_, dh àr{_`_ h¡ Omo nm°{bgrYmaH$ Ûmam _yb nm°{bgr Ho$
àr{_`_ Ho$ gmW-gmW, AZwd¥{Õ Ho$ A§VJ©V MwZo JE {H$gr A{V[aŠV
gwajm/ {hVbm^ Ho$ {bE Xo` h¡&
51. AZwd¥{Õ ~r_m am{e dh {Z{üV YZam{e h¡ Omo MwZr JB© AZwd¥{Õ Ho$ A§VJ©V
Amd¥Îm KQ>Zm hmoZo na Xo` hmoVr h¡&
52. AZwgyMr nm°{bgr XñVmdoO H$m dh ^mJ h¡ {Og_| AmnH$s nm°{bgr Ho$ {deof
{ddaU h¢&
53. {ZnQ>mZ {dH$ën Bg nm°{bgr Ho$ ^mJ 'S>r' H$s eV© 9 _| {d{Z{X©ï> nm°{bgr
Ho$ A§VJ©V dh {dH$ën h¡, {Og_| nm°{bgr {hVbm^ EH$_wíV àmá H$aZo Ho$
~Om`, nm°{bgrYmaH$/~r{_V ì`pŠV Ûmam MwZr JB© g_` Ad{Y Ho$ Xm¡amZ
{H$íVm| _| àmá {H$E OmVo h¢&
54. gmYmaU àË`mdVu ~moZg, dh A{Yeof/bm^ h¡ Omo {ZJ_ Ûmam ^mJrXma
nm°{b{g`m| Ho$ AZw^d Ho$ AmYma na àË`oH$ {dÎmr` df© Ho$ A§V _| Kmo{fV
{H$`m OmVm h¡ Am¡a {OgH$mo nm°{bgr _| {d{Z{X©ï> {Z`_ Am¡a eVm] Ho$ AZwgma
nm°{bgr Ho$ {hVbm^m| _| Omo‹S> {X`m OmVm h¡&
55. _¥Ë`w na ~r_m am{e, Bg nm°{bgr Ho$ {Z`_ Ed§ eVm] Ho$ AZwgma, ~r{_V
ì`pŠV H$s _¥Ë`w hmo OmZo na Xo` {Z{üV am{e dmbm {hVbm^ h¡&
56. n[an¹$Vm na ~r_m am{e dh am{e h¡ Omo nm°{bgr Ho$ {Z`_ Ed§ eVm] Ho$
AZwgma, nm°{bgr H$s n[anŠdVm na Xo` hmoZr {Z{üV h¡&
57. Aä`nU
© H$m AW© h¡ n[an¹$Vm go nhbo hr nayr nm{°bgr H$m nUy© AmhaU/g_mnZ&
58. Aä`n©U _yë` H$m AW© Cg am{e go h¡ Omo Bg nm°{bgr Ho$ {Z`_ Ed§ eVm]
Ho$ AZwgma, Aä`n©U H$s pñW{V _| Xo` hmoVr h¡&
51. Rider Sum Assured is the assured amount payable on
happening of a specified event covered under the rider, if
opted.
52. Schedule is the part of policy document that gives the specific
details of your policy.
53. Settlement Option: Settlement Option, as specified in
Condition 9 of Part D of this Policy Document, is an option
available under this Policy, to receive Maturity Benefit in
instalments instead of lumpsum amount over a period chosen
by the Policyholder/ Life Assured.
54. Simple Reversionary Bonus is the surplus/profit declared at
the end of each financial year by the Corporation based on the
Corporation’s experience to the Participating policies and
added to the benefits under the policy as per terms and
conditions as specified in the policy document.
55. Sum Assured on Death means an absolute amount of benefit
which is guaranteed to become payable on death of life
assured in accordance with the terms and conditions of the
policy.
56. Sum Assured on Maturity means the amount which is
guaranteed to become payable on Maturity of the policy, in
accordance with the terms and conditions of the policy.
57. Surrender means complete withdrawal / termination of the
entire policy before expiry of the policy term.
58. Surrender Value means an amount, if any, that becomes
payable in case of surrender in accordance with the terms and
conditions of this policy.
59. gmaUr~Õ àr{_`_ {H$gr Ny>Q> `m A{V[aŠV bmoqS>J Ho$ à`moJ Ho$ {~Zm
~r{_V ì`pŠV Ho$ Am`w na MwZr JB© _yb ~r_m am{e Ho$ {bE àr{_`_ h¡&
59. Tabular premium is the premium for the chosen Basic Sum
Assured on the age of the Life Assured without application of
any rebate or extra loading.
60. Hw$b AXm {H$`m J`m àr{_`_, {H$gr A{V[aŠV àr{_`_, AZwd¥{Õ àr{_`_
Am¡a H$am| H$mo N>mo‹S>H$a, àmá {H$E JE g^r àr{_`_m| H$m `moJ h¡&
60. Total Premiums paid means the total of all premiums received,
excluding any extra premium, any rider premium and taxes.
61. ~r_mboIZ dh nm[a^m{fH$ eãX h¡, {OgH$m à`moJ OmopI_ H$m {ZYm©aU H$aZo
Am¡a `h gw{Z{üV H$aZo Ho$ {bE {H$`m OmVm h¡ {H$ gwajm H$s bmJV g§~§{YV
ì`pŠV Ûmam CR>mE JE OmopI_ Ho$ g_mZwnmVr h¡& ~r_mboIZ Ho$ AmYma na,
gwajm H$mo ñdrH¥$V `m AñdrH¥$V H$aZo H$m VWm C{MV àr{_`_ `m g§emo{YV
eVm], `{X H$moB© hm|, H$s à`moÁ`Vm na {ZU©` {b`m OmVm h¡&
61. Underwriting is the term used to describe the process of
assessing risk and ensuring that the cost of the cover is
proportionate to the risks faced by the individual concerned.
Based on underwriting, a decision on acceptance or rejection
of cover as well as applicability of suitable premium or modified
terms, if any, is taken.
62. `yAmB©EZ H$m AW© h¡ AmB©AmaS>rEAmB© Ûmam Bg `moOZm H$mo Amd§{Q>V AZÝ`
nhMmZ g§»`m&
63. {Z{hV ~moZg dh gmYmaU àË`mdVu ~moZg (`{X H$moB© hmo) {OgH$s KmofUm
nhbo hr H$a Xr JB© h¡ Am¡a Omo nm°{bgr go gå~Õ ahVm h¡&
LIC's Jeevan Lakshya
62. UIN means the Unique Identification Number allotted to this
plan by the IRDAI.
63. Vested Bonus is the simple reversionary bonus, if any, which
has already been declared and remains attached to the policy.
Page 7 of 20
Plan No.- 933
PART – C : BENEFITS
^mJ-'gr' : {hVbm^
EH$ Mmby nm°{bgr Ho$ A§VJ©V {ZåZ{bpIV {hVbm^ Xo` h¢:
1) n[an¹$Vm {hVbm^: n[an¹$Vm H$s VmarI VH$ ~r{_V ì`pŠV Ho$ Or{dV ahZo
na `{X nm°{bgr Mmby h¡ Vmo {Z{hV gmYmaU àË`mdVu ~moZg Am¡a {H$gr
A{V[aŠV ~moZg Ho$ gmW ''n[an¹$Vm na ~r_m am{e'' Xo` hmoJr, {Og_|
''n[an¹$Vm na ~r_m am{e'', _yb ~r_m am{e Ho$ g_mZ h¡&
nm°{bgrYmaH$/~r{_V ì`pŠV Ho$ nmg `h {dH$ën hmoJm {H$ dh n[an¹$Vm
{hVbm^ Cn`w©ŠV VarHo$ go EH$_wíV àmá H$a gH$Vm/ gH$Vr h¡ `m {H$íVm|
_| ({ZnQ>mZ {dH$ën) O¡gm{H$ Bg nm°{bgr XñVmdoO Ho$ ^mJ ''S>r'' H$s eV©
9 _| {d{Z{X©ï> h¡&
2) _¥Ë`w {hVbm^: n[an¹$Vm H$s {ZYm©[aV {V{W go nhbo ~r{_V ì`pŠV H$s _¥Ë`w
hmoZo na, ~eV} {H$ nm°{bgr Mmby pñW{V _| hmo, _¥Ë`w {hVbm^, {Og_|
dm{f©H$ Am` bm^ Ho$ ê$n _| ZrMo {XE JE ^wJVmZm| H$s EH$ l¥§Ibm em{_b h¡
Am¡a n[an¹$Vm {V{W na EH$_wíV bm^ Xo` hmoJm& `h _¥Ë`w bm^ ''_¥Ë`w na
~r_m am{e'', {Z{hV gab àË`mdVu ~moZg Am¡a A§{V_ A{V[aŠV ~moZg,
`{X H$moB© hmo, Xo` hmoJm&
Ohm§ ''_¥Ë`w na ~r_m am{e'' H$s n[a^mfm {ZåZmZwgma h¡:
i) _yb ~r{_V am{e Ho$ 10% Ho$ ~am~a dm{f©H$ Am` bm^, Omo ~r{_V
ì`pŠV H$s _¥Ë`w {V{W Ho$ gmW AmZo dmbr `m CgHo$ ~mX H$s nm°{bgr
df©Jm§R> go n[an¹$Vm H$s {V{W go nyd© df©Jm§R> VH$ Xo` hmoJr &
ii) _yb ~r_m am{e Ho$ 110% Omo n[an¹$Vm H$s {Z`V {V{W na Xo` hmoJr&
{Z{hV gmYmaU àË`mdVu ~moZg Am¡a A§{V_ A{V[aŠV ~moZg, `{X H$moB© hmo,
_yb ~r_m am{e Ho$ 110% Ho$ gmW, Omo _¥Ë`w {hVbm^ _| em{_b h¡,
n[an¹$Vm H$s {Z`V {V{W _| Xo` hmoJr&
_¥Ë`w {hVbm^, _¥Ë`w H$s VmarI VH$ AXm {H$E JE Hw$b àr{_`_m| Ho$ 105
à{VeV go H$_ Zht hmoJm&
CnamoŠV àr{_`_ _| "H$a' A{V[aŠV àr{_`_ Ed§ AZwd¥{Õ àr{_`_ `{X H$moB©
hmo, em{_b Zhr hm|Jo&
_¥Ë`w {hVbm^ H$m ^wJVmZ ~r{_V ì`pŠV Ho$ M`Z Ho$ AZwgma D$na {d{Z{X©ï>
VarHo$ go Am¡a/AWdm {H$íVm| _| {H$`m OmEJm O¡gm{H$, Bg nm°{bgr Ho$ ^mJ
'S>r' H$s eV© 8 _| {d{Z{X©ï> {H$`m J`m h¡&
3. AZwd¥{Õ {hVbm^ :
Bg nm°{bgr Ho$ A§VJ©V {ZåZ{bpIV Mma AZwd¥{Õ {hVbm^ CnbãY h¢:
H$. Eb. AmB©. gr. H$s XþK©Q>ZmJV _¥Ë`w Ed§ An§JVm {hVbm^ AZwd¥{Õ (`yAmB©EZ:
512B209V02)
I. Eb. AmB©. gr. H$s XþK©Q>Zm {hVbm^ AZwd¥{Õ (`yAmB©EZ: 512B203V03)
J. Eb. AmB©. gr. H$s ZB© Ad{Y ~r_m AZwd¥{Õ (`yAmB©EZ: 512B210V01)
K. Eb. AmB.© gr. H$s ZB© J^§ra amJo {hVbm^ AZdw{¥Õ (`A
y mBE©Z: 512A212V01)
VWm{n, `mo½` ~r{_V ì`pŠV, Eb. AmB©. gr. H$s XþK©Q>ZmJV _¥Ë`w Ed§ An§JVm
AZwd¥{Õ Am¡a Eb. AmB©. gr. H$s XþK©Q>Zm {hVbm^ AZwd¥{Õ _| go EH$ H$m hr
M`Z H$a gH$Vm h¡& AV: Bg nm°{bgr Ho$ A§VJ©V A{YH$V_ VrZ AZwd¥{Õ`m|
H$m hr M`Z {H$`m Om gH$Vm h¡&
Eb. AmB©. gr. H$s XþK©Q>ZmJV _¥Ë`w Ed§ An§JVm {hVbm^ AZwd¥{Õ/ XþK©Q>Zm
{hVbm^ AZwd¥{Õ: EH$ Mmby nm°{bgr Ho$ A§VJ©V, BZ XmoZm| _| go EH$
AZwd¥{Õ H$m M`Z, _yb nm°{bgr Ho$ àr{_`_ ^wJVmZ Ad{Y Ho$ Xm¡amZ {H$gr
^r g_` {H$`m Om gH$Vm h¡ ~eV} {H$ _yb nm°{bgr H$s eof nm°{bgr Ad{Y
H$_ go H$_ nm§M df© hmo&
Eb. AmB©. gr. H$s ZB© Ad{Y ~r_m AZwd¥{Õ/ZB© J§^ra amoJ {hVbm^
AZwd¥{Õ: `o AZwd¥{Õ`m§ A{V[aŠV àr{_`_ Ho$ ^wJVmZ na Ho$db nm°{bgr Ho$
àma§^ _| hr CnbãY h¢&
`{X AZwd¥{Õ`m| H$m M`Z {H$`m OmVm h¡ Vmo CZH$s eV] Bg nm°{bgr Ho$
n¥ð>m§H$Z Ho$ ê$n _| g§b¾ h¢&
4. bm^ _| à{V^mJr:
~eV} {H$ nm°{bgr Mmby hmo, {ZJ_ Ho$ AZw^d na {Z^©a H$aVo hþE,
g_`-g_` na g§emo{YV ^maVr` OrdZ ~r_m {ZJ_ A{Y{Z`_, 1956 Ho$
à`moÁ` àmdYmZm| Ho$ AZwgma, nm°{bgr bm^m| H$s à{V^mJr hmoJr, Am¡a Eogr
Xa Am¡a Eogr eVm], O¡gr{H$ {ZJ_ Ûmam Kmo{fV H$s OmE§, na gmYmaU
àË`mdVu ~moZg Am¡a A§{V_ A{V[aŠV ~moZg, `{X H$moB© hmo, H$s nmÌ hmoJr&
àË`oH$ {dÎmr` df© Ho$ A§V _| ha gmb gmYmaU àË`mdVu ~moZg H$s KmofUm
H$s OmEJr ~eV} {H$ nm°{bgr nyar Vah Mmby hmo& EH$ ~ma Kmo{fV {H$E OmZo
Ho$ ~mX, `o ~moZg, `moOZm Ho$ Jma§Q>rH¥$V {hVbm^m| H$m {hñgm ~Z OmE§Jo&
nm°{bgr _| A§{V_ A{V[aŠV ~moZg ^r n[an¹$Vm H$s {Z`V {V{W na Kmo{fV
{H$`m Om gH$Vm h¡ &
LIC's Jeevan Lakshya
The following benefits are payable under an in-force policy:
1. 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. Where,
``Sum Assured on Maturity`` is equal to Basic Sum Assured.
The Policyholder/Life Assured shall have an option to receive
the Maturity benefit in lumpsum as specified above and/or in
instalments (Settlement Option), as specified in Condition 9 of
Part D of this Policy Document.
2. Death Benefit: On death of the Life Assured before the
stipulated Date of Maturity provided the policy is in-force,
Death Benefit, which comprises of a series of payments in the
form of Annual Income Benefit as mentioned below and a
lumpsum benefit payable on Date of Maturity, shall be payable.
This Death Benefit shall be sum of “Sum Assured on Death”,
vested Simple Reversionary Bonuses and Final Additional
Bonus, if any;
where “Sum Assured on Death” is defined as the sum of:
i)
Annual Income Benefit equal to 10% of the Basic
Sum Assured, which shall be payable from the policy
anniversary coinciding with or following the date of death of
Life Assured, till the policy anniversary prior to the date of
maturity.
ii) 110% of Basic Sum Assured, which shall be
payable on due date of maturity;
The vested Simple Reversionary Bonuses and Final Additional
Bonus, if any, along with 110% of Basic Sum Assured, included
in the Death Benefit, shall be payable on due Date of Maturity.
The Death Benefit defined above shall not be less than 105%
of total premiums paid upto the date of death.
Premiums referred above exclude tax, extra premium and rider
premium(s), if any.
The Death Benefit shall be paid in lumpsum as specified above
and/or in instalments, as specified in Condition 8 of Part D of
this Policy Document, as per the option exercised by the Life
Assured.
3. Rider Benefits:
The following four riders are available under this policy:
A. LIC’s Accidental Death and Disability Benefit Rider (UIN:
512B209V02)
B. LIC’s Accident Benefit Rider (UIN: 512B203V03)
C. LIC’s New Term Assurance Rider (UIN: 512B210V01)
D. LIC’s New Critical Illness Benefit Rider (UIN: 512A212V01)
However, the eligible Life Assured can opt between either of
the LIC’s Accidental Death and Disability Rider or LIC’s
Accident Benefit Rider. Therefore, a maximum of three riders
can be availed under this policy.
LIC’s Accidental Death and Disability Benefit Rider/ LIC’s
Accident Benefit Rider: Under an in-force policy either of
these riders can be opted for at any time within the premium
paying term of the Base Policy provided, the outstanding
premium paying term of the Base Policy is at least five years.
LIC’s New Term Assurance Rider/ LIC’s New Critical
Illness Benefit Rider: These riders are available only at the
inception of the policy on payment of additional premium.
Conditions of rider(s), if opted, are enclosed as
endorsement to this policy.
4. Participation in profits:
Provided the policy is in-force, depending upon the
Corporation’s experience, the policy shall participate in profits
in accordance with the applicable provisions of LIC Act 1956 as
amended from time to time and shall be eligible for Simple
Reversionary Bonus and Final Additional Bonus, if any, at such
rates and on such terms as may be declared by the
Corporation.
Simple Reversionary Bonuses shall be declared annually at
the end of each financial year provided the policy is in-force.
Once declared, they form part of the guaranteed benefits of the
plan. Final Additional Bonus may also be declared under the
policy on due date of maturity.
Page 8 of 20
Plan No.- 933
nm°{bgr Mmby ahVo hþE _¥Ë`w hmoZo na nm°{bgr n[an¹$Vm H$s {V{W VH$ bm^m|
H$s à{V^mJr hmoJr, Am¡a nm°{bgr Ho$ A§VJ©V Hw$b {Z{hV gmYmaU àË`mdVu
~moZg Ed§ A§{V_ A{V[aŠV ~moZg, `{X H$moB© hmo, nm°{bgr H$s {Z`V
n[an¹$Vm H$s {V{W _| Xo` hmoJr, Mmho ~r{_V ì`pŠV Or{dV hmo `m Zht&
`{X àr{_`_m| H$m naym ^JwVmZ Zht {H$`m J`m h¡ (Mmby nm{°bgr _| ~r{_V ì`pŠV
H$s _Ë¥`w H$s pñW{V H$mo N>mS‹o>H$a) Vmo nm{°bgr ^{dî` H$o bm^m| H$o à{V^mJr Zht
ahJor, Mmho nm{°bgr Zo àXÎm _ëy` H$mo àmá H$a {b`m hmo `m Zht& {H$ÝVw AZJwh«
Ad{Y _| _Ë¥`w hmZoo na nm{°bgr H$mo Mmby _mZm Om`Jom&
nm°{bgr Ho$ Aä`n©U H$s pñW{V _|, Aä`n©U H$s VmarI na bmJy {Z{hV
~moZgm| H$m Aä`n©U _yë`, Bg nm°{bgr XñVmdoO Ho$ ^mJ 'S>r' H$s eV© 4 Ho$
{d{ZX}e Ho$ AZwgma Xo` hmoJm&
A§{V_ àË`mdVu ~moZg H$s KmofUm nm°{bgr Ho$ A§VJ©V Cg df© _| ^r H$s Om
gH$Vr h¡ {Og_| _¥Ë`w AWdm n[an¹$Vm Ho$ H$maU nm°{bgr Xmdo _| n[ad{V©V
hmoVr h¡&
A§{V_ àË`mdVu ~moZg, àXÎm nm°{b{g`m| Ho$ A§VJ©V Xo` Zht hmoJm&
In case of death under a policy which is in-force, the policy shall
continue to participate in profits upto the date of maturity and
the entire vested Simple Reversionary Bonuses and Final
Additional Bonus, if any, shall be payable on due date of
maturity. Hence, the Simple Reversionary Bonus and Final
Additional Bonus, if any, shall be payable under the policy on
due date of maturity irrespective of survival of the Life Assured.
In case the premiums are not duly paid (except in case of death
of the Life Assured under inforce policy), the policy shall cease
to participate in future profits irrespective of whether or not the
policy has acquired paid up value. However, the policy shall be
considered as in-force on death during the grace period.
In the event of policy being surrendered, the Surrender Value
of vested Reversionary Bonuses, if any, as applicable on the
date of surrender, will be payable as specified in Condition 4 of
Part D of this Policy document.
Final Additional Bonus may also be declared under the policy in
the year when the policy results into a claim either by death or
maturity.
Final Additional Bonus shall not be payable under reduced
paid-up policies.
5. àr{_`_m| H$m ^wJVmZ:
H$) Bg nm°{bgr XñVmdoO H$s AZwgyMr Ho$ {d{ZX}e Ho$ AZwgma,
nm°{bgrYmaH$ H$mo g_`-g_` na bmJy H$am| g{hV, àr{_`_ H$m
^wJVmZ H$aZm hmoVm h¡&
I) {Og Mmby nm°{bgr Ho$ A§VJ©V, _¥Ë`w H$s VmarI VH$ Xo` g^r àr{_`_m|
H$m ^wJVmZ H$a {X`m J`m h¡ Am¡a {Og_| àr{_`_ ^wJVmZ H$m àH$ma
dm{f©H$ go BVa h¡, CgHo$ A§VJ©V ~r{_V ì`pŠV H$s _¥Ë`w H$s pñW{V
_|, _¥Ë`w H$s VmarI go AJbr nm°{bgr df©Jm§R> VH$ H$moB© àr{_`_ `{X
eof hmoJm, Vmo dh Xmdm am{e _| go H$mQ> {b`m OmEJm& BgHo$ ~mX, _yb
nm°{bgr Ho$ VhV Xo` àr{_`_, àr{_`_ ^wJVmZ H$s Ad{Y Ho$ A§V
VH$, _m\$ H$a {XE OmE|Jo &
{ZJ_ Eogm H$moB© Zmo{Q>g Omar H$aZo Ho$ {bE ~mÜ` Zht h¡ {H$ àr{_`_ AWdm
am{e Xo` hmo JB© h¡&
6. AZwJ«h Ad{Y: dm{f©H$ `m AY©-dm{f©H$ `m Ì¡_m{gH$ àr{_`_m| Ho$ ^wJVmZ Ho$
{bE nhbo AXÎm àr{_`_ H$s VmarI go 30 {XZ Am¡a _m{gH$ àr{_`_m| Ho$
^wJVmZ Ho$ {bE 15 {XZ H$s AZwJ«h Ad{Y H$s AZw_{V Xr OmEJr& `{X
AZwJ«h Ad{Y g_má hmoZo go nyd© àr{_`_ H$m ^wJVmZ Zht {H$`m OmVm h¡ Vmo
nm°{bgr H$mbmVrV hmo OmEJr&
`{X ~r{_V ì`pŠV H$s _¥Ë`w AZwJ«h-Ad{Y Ho$ Xm¡amZ qH$Vw Xo` àr{_`_ AXm
H$aZo go nyd© hmo OmVr h¡ Vmo nm°{bgr V~ ^r d¡Y ahoJr Am¡a Cn`w©ŠV AXÎm
àr{_`_ VWm _¥Ë`w H$s VmarI go AJbr nm°{bgr df©Jm§R> VH$ Xo` àr{_`_
Ho$ gmW {H$gr eof àr{_`_m| H$s am{e H$mQ>H$a, {hVbm^m| H$m ^wJVmZ {H$`m
OmEJm&
Cn`w©ŠV AZwJ«h Ad{Y CZ AZwd¥{Õ àr{_`_m| na ^r bmJy hmoJr, Omo _yb
~r_m nm°{bgr àr{_`_ Ho$ gmW hr Xo` hmoVo h¢&
5. Payment of Premiums
a) The policyholder has to pay the Premium on the due dates
as specified in the Schedule of this Policy Document along
with applicable taxes, if any, from time to time.
b) In case of death of Life Assured under an in-force policy
wherein all the premiums due till the date of death have
been paid and where the mode of payment of premium is
other than yearly, balance premium(s), if any, falling due
from the date of death and before the next policy
anniversary shall be deducted from the claim amount.
Further, premiums payable under the Base Policy falling
due thereafter and till the end of the Premium Paying Term,
shall be waived.
The Corporation does not have any obligation to issue a notice
that premium is due or for the amount that is due.
6. Grace period: A grace period of 30 days shall be allowed for
payment of yearly or half-yearly or quarterly premiums and 15
days for monthly premiums from the date of first unpaid
premium. If the premium is not paid before the expiry of the
days of grace, the Policy lapses.
If the death of the Life Assured occurs within the grace period
but before the payment of the premium then due, the policy will
still be valid and the benefits shall be paid after deduction of the
said unpaid premium as also the balance premium(s) falling
due from the date of death before the next Policy Anniversary
of the policy.
The above grace period will also apply to rider premiums which
are payable along with premium for Base Policy.
^mJ - 'S>r' : godm nj go g§~§{YV eV]
PART – D:
CONDITIONS RELATED TO SERVICING ASPECTS
1. Am`w H$m à_mU: My§{H$ àr{_`_m| H$s JUZm, àñVmd nÌ _| ~r{_V ì`pŠV H$s
Kmo{fV Am`w Ho$ AmYma na H$s JB© h¡, Bg{bE `{X Am`w Eogr Kmo{fV Am`w go
A{YH$ nmB© OmVr h¡ Vmo g_`-g_` na g§emo{YV ~r_m A{Y{Z`_, 1938
Ho$ A§VJ©V àmá A{YH$mam| Am¡a Cnm`m| g{hV, {ZJ_ Ho$ AÝ` A{YH$mam| VWm
Cnm`m| na H$moB© à{VHy$b à^md S>mbo {~Zm, àdoe Ho$ g_` H$s ghr Am`w Ho$
g_` nm°{bgr H$s pñW{V Ho$ AZwgma g§~§{YV ~r_m am{e na VWm AZwd¥{Õ
~r_m am{e (`{X H$moB© hmo) na JUZm H$s Xa go àr{_`_ Xo` hmoJm Am¡a
nm°{bgr àma§^ hmoZo go boH$a, Eogo ^wJVmZ H$s VmarI VH$ ghr Am`w Ho$
àr{_`_m| Am¡a _m¡{bH$ àr{_`_m| Ho$ g§{MV A§Va H$m ^wJVmZ {ZJ_ H$mo ã`mO
g{hV Cg Xa na Xo` hmoJm, {OgH$m {ZYm©aU {ZJ_ g_`-g_` na H$aoJm&
VWm{n, `{X ~r{_V ì`pŠV/ àñVmdH$ `hm§ {bpIV Xam| na àr{_`_m| H$m
^wJVmZ Omar aIVm h¡ Am¡a Cn`w©ŠV g§{MV F$U H$m ^wJVmZ Zht H$aVm h¡
Vmo nm°{bgr àma§^ hmoZo go nm°{bgr Ho$ Xmdo _| n[ad{V©V hmoZo VH$, R>rH$ Am`w
Ho$ àr{_`_m| Am¡a _m¡{bH$ àr{_`_m| H$m g§{MV A§Va, Eogo A§Va H$s àË`oH$
{H$íV na {ZJ_ Ûmam g_`-g_` na {Z`V Xa na ã`mO g{hV Cn{MV hmo
OmEJm, Omo Cg nm°{bgr na ~r{_V ì`pŠV/ àñVmdH$ Ûmam Xo` F$U _mZm
OmEJm Am¡a CgH$s am{e, nm°{bgr Ho$ Xmdo _| n[ad{V©V hmoZo na Xo` nm°{bgr
_wÐm _| go H$mQ> br OmEJr&
1. Proof of Age: The premiums having been calculated on the
age of the Life Assured as declared in the Proposal, in case the
age is found higher than such age, without prejudice to the
Corporation’s other rights and remedies, including those under
the Insurance Act, 1938, as amended from time to time the
premiums shall be payable in such case at the rate calculated
on the Basic Sum Assured and Rider(s) Sum Assured, if opted
for, the correct age at entry, and the accumulated difference
between the premiums for the correct age and the original
premiums, from the commencement of the Policy upto the date
of such payment shall be paid to the Corporation with interest
at such rate as fixed by the Corporation from time to time.
However, in case the Life Assured/Proposer continues to pay
the premiums at the rates shown herein, and also does not pay
the above mentioned accumulated debt, the accumulated
difference between the premiums for the correct age and the
original premiums from the commencement of this Policy up to
the date on which the Policy becomes a claim, with interest on
each instalment of such difference at such rate as may be fixed
by the Corporation from time to time, shall accrue and be
treated as a debt due by the Life Assured / Proposer against the
said Policy and shall be deducted from the Policy moneys
payable on the Policy becoming a claim.
BgHo$ A{V[aŠV `h ^r eV© h¡ {H$ `{X àdoe Ho$ g_` ~r{_V ì`pŠV H$s
ghr Am`w Eogr h¡ {Oggo {H$ Cn`w©ŠV AZwgyMr _| {d{Z{X©ï> dJ© `m ~r_m eVm]
Provided further that if the Life Assured’s correct age at entry is
such as would have made him/her uninsurable under the class
LIC's Jeevan Lakshya
Page 9 of 20
Plan No.- 933
Ho$ A§VJ©V `h ~r_o Ho$ {b`o A`mo½` hmo OmVm h¡ Vmo dJ© Am¡a ~r_m g§~§Yr eV]
n[ad{V©V hmoH$a, ~r_o H$s Eogr `moOZm hmo OmE§Jr, O¡gm{H$ Bg nm°{bgr Ho$
àma§^ Ho$ g_` Mmby à{H«$`m Ho$ AZwgma {ZJ_ Ûmam àXmZ H$s OmVr h¢ Am¡a
Eogm nm°{bgrYmaH$ H$s gh_{V go {H$`m OmEJm AÝ`Wm nm°{bgr {ZañV H$a
Xr OmEJr&
2. Forfeiture and Non-forfeiture Regulations:
2. OãVr Am¡a J¡a-OãVr {d{Z`_:
Forfeiture Regulations:
OãVr {d{Z`_:
i.
`{X Bg nm°{bgr Ho$ {bE Xmo df© go H$_ H$m àr{_`_ AXm {H$`m J`m
h¡ Am¡a CgHo$ ~mX Xo` H$moB© àr{_`_ AXm Zht {H$`m J`m h¡ Vmo AZwJ«h
Ad{Y g_má hmoZo Ho$ nümV nhbo AXÎm àr{_`_ H$s VmarI go g^r
{hVbm^ g_má hmo OmE§Jo Am¡a Hw$N> ^r Xo` Zht hmoJm VWm V~ VH$
AXm {H$E JE àr{_`_ ^r dmngr `mo½` Zht hm|Jo&
ii.
Hw$N> AÝ` pñW{V`m| _| OãVr: `{X `hm§ {Z{hV AWdm n¥ð>m§{H$V {H$gr
eV© H$m C„§KZ hmoVm h¡ AWdm `{X Eogm nm`m OmVm h¡ {H$ àñVmd nÌ
_|, ì`pŠVJV H$WZ _|, KmofUm Am¡a g§~§{YV XñVmdoOm| _| H$moB© AgË`
AWdm JbV ~`mZ {Z{hV h¡ `m H$moB© _hËdnyU© gyMZm {N>nmB© JB© h¡ V~
Am¡a Eogo àË`oH$ _m_bo _| `h nm°{bgr ^§J hmo OmEJr Am¡a Bg H$maU
go, {H$gr ^r {hVbm^ Ho$ Xmdm| na, g_`-g_` na g§emo{YV ~r_m
A{Y{Z`_, 1938 H$s Ymam 45 Ho$ àmdYmZ bmJy hm|Jo&
i.
If less than two years’ premiums have been paid in respect
of this policy and any subsequent premium be not duly
paid, all the benefits under this policy shall cease after the
expiry of grace period from the date of first unpaid premium
and nothing shall be payable, and the premiums paid
thitherto are also not refundable.
ii. Forfeiture in Certain Other Events: In case any condition
herein contained or endorsed hereon be contravened or in
case it is found that any untrue or incorrect statement is
contained in the proposal, personal statement, declaration
and connected documents or any material information is
withheld, then and in every such case this policy shall be
void and all claims to any benefit in virtue of this policy shall
be subject to the provisions of Section 45 of the Insurance
Act, 1938, as amended from time to time.
Non-forfeiture Regulations:
J¡a-OãVr {d{Z`_:
`{X H$_ go H$_ Xmo dfm] H$m nyU© àr{_`_ AXm H$a {X`m J`m h¡ Am¡a CgHo$
nümV Ho$ àr{_`_ AXm Zht {H$E JE h¢ Vmo `h nm°{bgr nyar Vah ^§J Zht
hmoJr ~pëH$ EH$ àXÎm nm°{bgr Ho$ ê$n _| ~Zr ahoJr&
àXÎm nm°{bgr _| _¥Ë`w na Xo` {hVbm^ H$mo ""_¥Ë`w àXÎm ~r_m am{e'' H$hm
OmEJm, Omo {ZåZ{bpIV Ho$ `moJ\$b Ho$ ~am~a hmoJm:
•
_yb ê$n go Xo` àr{_`_ ^wJVmZ H$s A{YH$V_ Ad{Y Am¡a nhbo go hr
^wJVmZ H$a {XE JE àr{_`_ H$s Hw$b Ad{Y Ho$ AZwnmV go, _yb ~r_m
am{e Ho$ 110% H$mo JwUm H$aHo$ AmB© am{e Ho$ g_mZ hmoJr, Omo
n[an¹$Vm H$s {V{W na Xo` hmoJr; Ed§
•
KQ>m`m J`m Am` bm^ AWm©V² _yb ~r_m am{e Ho$ 10% Ho$ gmW _yb
ê$n go Xo` àr{_`_ ^wJVmZ H$s A{YH$V_ Ad{Y Am¡a nhbo go hr
^wJVmZ H$a {XE JE àr{_`_ H$s Hw$b Ad{Y H$m AZwnmV, Omo _¥Ë`w H$s
{V{W na `m Cg Ho$ Vwa§V ~mX AmZo dmbr nm°{bgr df©Jm§R> go n[an¹$Vm
{V{W Ho$ Vwa§V nhbo H$s nm°{bgr df©Jm§R> VH$ Xo` hmoJm&
àXÎm nm°{bgr Ho$ A§VJ©V n[an¹$Vm na ~r_m am{e KQ>H$a Eogr am{e ah
OmEJr {Ogo ''n[an¹$Vm àXÎm ~r_m am{e'' H$hm OmEJm Am¡a `h am{e, _yb
ê$n go Xo` àr{_`_ ^wJVmZ H$s A{YH$V_ Ad{Y Am¡a nhbo go hr ^wJVmZ
H$a {XE JE àr{_`_ H$s Hw$b Ad{Y Ho$ AZwnmV go, n[an¹$Vm na ~r_m
am{e H$mo JwUm H$aHo$ AmB© am{e Ho$ g_mZ hmoJr&
àXÎm nm°{bgr ^{dî` Ho$ bm^ H$s ^mJrXmar Ho$ {bE nmÌ Zht hmoJr& VWm{n,
`{X H$moB© {Z{hV gmYmaU àË`mdVu ~moZg hmoJm Vmo dh KQ>r hþB© àXÎm
nm°{bgr go gå~Õ ahoJm Am¡a n[an¹$Vm H$s {Z`V {V{W na Xo` hmoJr&
D$na Mmho Hw$N> ^r C„oI {H$`m J`m hmo, `{X Bg nm°{bgr Ho$ g§~§Y _| 3
nyU© dfm] H$m àr{_`_ AXm H$a {X`m J`m h¡ Am¡a CgHo$ ~mX Ho$ àr{_`_m| H$m
{d{YdV² ^wJVmZ Zht hþAm h¡ Vmo nhbo AXÎm àr{_`_ H$s Xo` VmarI go N>h
_hrZo Ho$ A§Xa ~r{_V ì`pŠV H$s _¥Ë`w hmoZo H$s pñW{V _|, (H$) _yb ~r_m
nm°{bgr Ho$ {bE _¥Ë`w H$s VmarI VH$ Eogr Ad{Y Ho$ Xm¡amZ ã`mO g{hV
AXÎm àr{_`_; Am¡a (I) Eogr nm°{bgr _| VËH$mb Xo` hmoZo dmbr H$moB©
{hVbm^ go, _¥Ë`w H$s VmarI go Am¡a AJbr nm°{bgr df©Jm§R> go nyd© _yb
nm°{bgr na Xo` hmoZo dmbo eof àr{_`_m| H$mo H$mQ>H$a _¥Ë`w {hVbm^ H$m
^wJVmZ {H$`m OmEJm& `h àmdYmZ AmË_hË`m go hþB© _¥Ë`w H$s pñW{V _| bmJy
Zht hmoJm&
D$na Mmho Hw$N> ^r C„oI {H$`m J`m hmo, `{X Bg nm°{bgr Ho$ g§~§Y _| H$_
go H$_ nm§M nyU© dfm] Ho$ àr{_`_ H$m ^wJVmZ hmo J`m h¡ Am¡a CgHo$ ~mX Ho$
àr{_`_m| H$m {d{YdV² ^wJVmZ Zht {H$`m J`m h¡ Vmo nhbo AXÎm àr{_`_ H$s
Xo` VmarI go 12 _mh Ho$ A§Xa ~r{_V ì`pŠV H$s _¥Ë`w hmoZo H$s pñW{V _|
(H$) _yb ~r_m nm°{bgr Ho$ {bE _¥Ë`w H$s VmarI VH$ Eogr Ad{Y Ho$ Xm¡amZ
ã`mO g{hV AXÎm àr{_`_; Am¡a (I) Eogr nm°{bgr _| VËH$mb Xo` hmoZo
dmbr H$moB© {hVbm^ go, _¥Ë`w H$s VmarI go Am¡a AJbr nm°{bgr df©Jm§R> go
nyd© _yb nm°{bgr na Xo` hmoZo dmbo eof àr{_`_m| H$mo H$mQ>H$a _¥Ë`w {hVbm^
H$m ^wJVmZ {H$`m OmEJm& `h àmdYmZ AmË_hË`m go hþB© _¥Ë`w H$s pñW{V _|
bmJy Zht hmoJm&
Cn`w©ŠV J¡a-OãVr {d{Z`_ EopÀN>H$ AZwd¥{Õ`m| na bmJy Zht hmoJ|, Š`m|{H$
AZwd¥{Õ`m§ H$moB© àXÎm _yë` A{O©V Zht H$aVr& `{X nm°{bgr H$mbmVrV
AdñWm _| h¡ Vmo AZwd¥{Õ`m§ bmJy Zht ahVr&
LIC's Jeevan Lakshya
or terms of assurance specified in the said Schedule hereto,
the class or terms shall stand altered to such Plan of Assurance
as are granted by the Corporation according to the practice in
force at the commencement of this policy subject to the
consent of the Policyholder, otherwise the policy will be
cancelled.
If after at least two full years’ premiums have been paid and any
subsequent premiums be not duly paid, this policy shall not be
wholly void, but shall subsist as a paid-up policy.
The benefit payable in case of death under a paid-up policy,
called “Death Paid-up Sum Assured”, shall be equal to the
sum of:
•
110% of Basic Sum Assured multiplied by the ratio of the
total period for which premiums have already been paid
bears to the maximum period for which premiums were
originally payable which shall be payable on the date of
maturity; and
•
Reduced Income Benefit i.e. 10% of Basic Sum assured
multiplied by the ratio of the total period for which premiums
have already been paid bears to the maximum period for
which premiums were originally payable, shall be payable
from the policy anniversary coinciding with or following the
date of death of Life Assured till the policy anniversary prior
to date of maturity.
The Sum Assured on Maturity under paid-up policy shall be
reduced to such a sum called “Maturity Paid-up Sum
Assured” and shall be equal to Sum Assured on Maturity
multiplied by the ratio of the total period for which premiums
have already been paid bears to the maximum period for which
premiums were originally payable.
A paid-up policy shall not be entitled to participate in future
profits. However, the vested simple reversionary bonuses, if
any, shall remain attached to the reduced paid up policy and
shall be payable only on the date of maturity.
Notwithstanding what is stated above, if at least 3 full years’
premiums have been paid in respect of this policy, and any
subsequent premium be not duly paid, in the event of the death
of the Life Assured within six months from the due date of first
unpaid premium, Death Benefit shall be payable, after
deduction of (a) the unpaid premium(s) for the Base Policy
upto the date of death with interest upto the date of recovery
and (b) the balance premium(s) for the Base Policy falling due
from the date of death and before the next policy anniversary,
from any immediate benefit(s) payable under such policy. This
provision shall not apply in case of death due to Suicide.
Notwithstanding what is stated above, if at least five full years'
premiums have been paid in respect of this policy, any
subsequent premium be not duly paid, in the event of death of
the Life Assured within 12 months from the due date of first
unpaid premium, Death Benefit if any, shall be payable, after
deduction of (a) the unpaid premium(s) for the Base Policy upto
the date of death with interest upto the date of recovery and (b)
the balance premium(s) for the Base Policy falling due from the
date of death and before the next policy anniversary, from any
immediate benefit(s) payable under such policy. This provision
shall not apply in case of death due to Suicide.
All of the above mentioned Non-Forfeiture Regulations do not
apply to optional Riders as the riders do not acquire any paidup value. The riders cease to apply, if policy is in lapsed
condition.
Page 10 of 20
Plan No.- 933
3. H$mbmVrV nm°{b{g`m| H$m nwZM©bZ: AZwJ«h Ad{Y Ho$ A§Xa Xo` àr{_`_ H$m
^wJVmZ Z {H$E OmZo na ~r_m nm°{bgr H$mbmVrV hmo OmEJr& H$mbmVrV
AdñWm dmbr nm°{bgr H$mo ~r{_V ì`pŠV Ho$ OrdZH$mb _| qH$Vw `WmpñW{V,
nwZM©bZ Ad{Y Ho$ Xm¡amZ n[an¹$Vm H$s VmarI go nhbo nwZM©{bV {H$`m Om
gH$Vm h¡& àr{_`_m| H$s gmar ~H$m`m am{e`m| H$m ^wJVmZ, g_`-g_` na
{ZJ_ Ûmam V` ã`mO Xa na ã`mO (AY©-dm{f©H$ g§`moOZ Ho$ gmW) g{hV
H$aZo na Am¡a ~r{_V ì`pŠV Ûmam, nwZM©bZ Ho$ g_` {ZJ_ H$s ~r_mboIZ
Zr{V Ho$ AZwgma nhbo go CnbãY gyMZm, XñVmdoOm| Am¡a [anmoQ>m] Ho$ AmYma
na Am¡a Bg {df` _| _m§Jr JB© {H$gr A{V[aŠV gyMZm Ho$ AmYma na
nm°{bgrYmaH$/~r{_V ì`pŠV H$s {Za§Va ~r_m`mo½`Vm Ho$ {df` _| g§Vwï> hmoZo
na, nwZM©bZ bmJy {H$`m OmEJm&
VWm{n, {H$gr g_má nm°{bgr Ho$ nwZM©bZ H$mo _yb eVm] na ñdrH$ma H$aZo,
g§emo{YV eVm] na ñdrH$ma H$aZo `m AñdrH$ma H$aZo H$m A{YH$ma {ZJ_ Ho$
nmg gwa{jV h¡& g_má nm°{bgr H$m nwZM©bZ V^r Mmby hmoJm O~ {ZJ_
BgH$m AZw_moXZ H$a XoJm, Bgo ñdrH$ma H$aoJm Am¡a nwZM©bZ agrX Omar H$a
Xr OmEJr&
`{X AZwd¥{Õ (`m|) H$m M`Z {H$`m J`m h¡ Vmo CgHo$/CZHo$ nwZM©bZ na
_yb nm°{bgr Ho$ nwZM©bZ Ho$ gmW hr {dMma {H$`m OmEJm, AbJ go Zht&
4. Aä`n©U _yë`: nm°{bgrYmaH$ Ûmam nm°{bgr H$s Ad{Y Ho$ Xm¡amZ {H$gr ^r
g_` Aä`{n©V {H$`m Om gH$Vm h¡ ~eV} {H$ Xmo nyU© dfm] Ho$ àr{_`_ AXm
H$a {XE JE hm|& nm°{bgr Ho$ Aä`n©U na, Jma§Q>rH¥$V Aä`n©U _yë` Am¡a
{deof Aä`n©U _yë` _| go Omo A{YH$ hmoJm, CgHo$ ~am~a Aä`n©U _yë`
{ZJ_ Ûmam AXm {H$`m OmEJm&
{deof Aä`n©U _yë` H$m nwZamdbmoH$Z {H$`m Om gH$Vm h¡ {OgH$m {ZYm©aU
{ZJ_ Ûmam g_`-g_` na AmB©AmaS>rEAmB© Ho$ AZw_moXZ Ho$ AYrZ {H$`m
OmEJm&
nm°{bgr Ad{Y Ho$ Xm¡amZ Xo` Jma§Q>rH¥$V Aä`n©U _yë`, {ZåZ{bpIV Ho$ `moJ
Ho$ ~am~a hmoJm:
H$) AXm {H$E JE Hw$b àr{_`_m| ({H$gr A{V[aŠV àr{_`_, MwZr JB©
AZwd¥{Õ`m| Ho$ àr{_`_ `{X {b`m J`m h¡, Am¡a H$am| H$mo N>mo‹S>H$a) Ed§
Hw$b ^wJVmZ H$s J`r àr{_`_m| na bmJy Jm§aQ>rH¥$V Aä`n©U _yë` KQ>H$
H$m JwUH$ & à{VeV Ho$ ê$n _| ì`ŠV {H$`o J`o Jma§Q>rH¥$V Aä`n©U
_yë` H$maH$ nm°{bgr Ad{Y Am¡a nm°{bgr Aä`{n©V H$aZo Ho$ nm°{bgr
df© na {Z^©a H$aVo h¢, Omo Bg nm°{bgr XñVmdoO Ho$ n[a{eï>-4 _| {XE
JE h¢&
I) {Z{hV gmYmaU àË`mdVu ~moZg, `{X H$moB© hmo, H$m Aä`n©U _yë`
Am¡a Omo {H$ {Z{hV ~moZg H$mo, {Z{hV ~moZg na bmJy Jma§Q>rH¥$V
Aä`n©U _yë` KQ>H$$ go JwUm H$aHo$ AmB© am{e Ho$ g_mZ hmoJm& `o
Jma§Q>rH¥$V Aä`n©U _yë` KQ>H$ nm°{bgr Ad{Y na Am¡a nm°{bgr
Aä`n©U H$aZo Ho$ df© na {Z^©a hm|Jo Am¡a `o Bg nm°{bgr XñVmdoO Ho$
n[a{eï> - 5 _| {XE JE h¢&
`{X H$moB© AZwd¥{Õ (AZwd¥{Õ`m§) h¡ Vmo CZ na H$moB© Aä`n©U _yë` CnbãY
Zht hmoJm&
5. nm{°bgr na F$U: Bg nm{°bgr H$o AV§JV©, {ZåZ{bpIV {Z`_/eVm] H$o AYrZ,
nm{°bgr H$o Aä`nU© _ëy` VH$ H$m F$U CZ am{e`m| H$o {bE Ama¡ Eg
o r AÝ`
eVm] na CnbãY hmJom, Omo g_`-g_` na {ZJ_ Ûmam V` H$s OmEJ§r:
i) H$_ go H$_ Xmo nU
y © dfm] H$o àr{_`_m| H$m ^JwVmZ H$a XZoo na F$U {b`m
Om gH$Vm h&¡
ii) A{YH$V_ F$U, Omo {X`m Om gH$Vm h¡ dmo {ZåZmZwgma hmoJm:
• Mmby nm°{b{g`m| Ho$ {bE - Aä`n©U _yë` Ho$ 90 à{VeV VH$
• àXÎm nm°{b{g`m| Ho$ {bE - Aä`n©U _yë` Ho$ 80 à{VeV VH$
iii) nm°{bgr H$m nyU© g_ZwXoeZ {ZJ_ Ho$ nj _| {H$`m OmEJm Am¡a {ZJ_
nm°{bgr H$mo, F$U Am¡a CgHo$ ã`mO H$mo dmngr Ho$ {bE à{V^y{V Ho$
ê$n _| AnZo nmg aIoJm&
iv) Bg nm°{bgr Ho$ A§VJ©V F$U boZo Ho$ g_` {ZJ_ Ûmam {d{Z{X©ï> H$s
OmZo dmbr Xa go, F$U na {ZJ_ H$mo ã`mO H$m ^wJVmZ AY©-dm{f©H$
MH«$d¥{Õ Ho$ AmYma na {H$`m OmEJm& bmJy hmoZo dmbr ã`mO Xa
AmB©AmaS>rEAmB© Ûmam AZw_mo{XV {d{Y na AmYm[aV hmoJr& ã`mO H$m
nhbm ^wJVmZ AJbr nm°{bgr df©Jm§R> go nyd© `m AJbr nm°{bgr df©Jm§R>
go N>h _hrZo nhbo H$s VmarI na (F$U-ñdrH¥${V H$s VmarI Ho$ Vwa§V
~mX, BZ_| go Omo ^r nhbo hmo) {H$`m OmZm h¡ Am¡a CgHo$ ~mX àË`oH$
AmYo df© na {H$`m OmZm h¡&
v) nm°{bgr YmaH$ H$s _¥Ë`w hmoZo H$s pñW{V _|, O~ VH$ F$U H$m nyU©
^wJVmZ Zht hmo OmVm, {ZJ_ _¥Ë`w H$s {V{W na Eogo dH$m`m F$U
(ì`mO g{hV _ybYZ) na ã`mO H$s am{e H$mo {H$gr g{ÞH$Q> bm^
(bm^m|), O¡go {H$ nm°{bgr Ho$ A§VJ©V Xo` AZwd¥{Õ bm^ (bm^m|) Ed§
dm{f©H$ Am` bm^m| go H$mQ>Zo H$m A{YH$mar hmoJm& ~H$m`m F$U Ho$
_ybYZ H$s am{e nm°{bgr Ho$ A§VJ©V {H$gr AZwd¥{Õ bm^ (bm^m|),
`{X H$moB© Xo` hmo, go AÝ`Wm A§{V_ EH$_wíV ^wJVmZ go dgybr OmEJr&
LIC's Jeevan Lakshya
3. Revival of lapsed Policies: An Insurance Policy would lapse
on non-payment of due premium within the days of grace. A
policy in lapsed condition may be revived during the life time of
the Life Assured, but within the Revival Period and before the
Date of Maturity, as the case may be. The revival shall be
effected on payment of all the arrears of premium(s) together
with interest (compounding half-yearly) at such rate as fixed by
the Corporation from time to time and on satisfaction of
Continued Insurability of the Life Assured on the basis of
information, documents and reports that are already available
and any additional information in this regard if and as may be
required in accordance with the Underwriting Policy of the
Corporation at the time of revival, being furnished by the
Policyholder/Life Assured.
The Corporation however, reserves the right to accept at
original terms, accept with modified terms or decline the revival
of a discontinued policy. The revival of the discontinued policy
shall take effect only after the same is approved, accepted and
revival receipt is issued by the Corporation.
Revival of Rider(s), if opted for, will only be considered along
with the revival of the Base Policy and not in isolation.
4. Surrender: The policy can be surrendered at any time during
the policy term provided atleast two full years’ premiums have
been paid. On surrender of the policy, the Corporation shall pay
the Surrender Value equal to higher of Guaranteed Surrender
Value and Special Surrender Value.
The Special Surrender Value is reviewable and shall be
determined by the Corporation from time to time subject to prior
approval of IRDAI.
The Guaranteed Surrender Value payable during the policy
term shall be sum of:
a) Total premiums paid (excluding any extra premiums
premiums for rider(s), if opted for and taxes) multiplied by
the Guaranteed surrender value factor applicable to total
premiums paid. These Guaranteed Surrender Value
factors expressed as percentages will depend on the policy
term and policy year in which the policy is surrendered and
are contained in Annexure – 4 of this policy document and
b) Surrender value of vested simple reversionary bonuses, if
any, which is equal to vested bonuses multiplied by the
Guaranteed Surrender Value factors applicable to vested
bonuses. These Guaranteed surrender value factors, will
depend on the policy term and the policy year in which the
policy is surrendered and are contained in Annexure – 5.
No surrender value will be available on Rider(s), if any.
5. Policy Loan: Loan shall be available under the policy subject
to the following terms and conditions, within the surrender
value of the policy for such amounts and on such further terms
and conditions as the Corporation may fix from time to time:
i)
Loan can be availed provided atleast two full years’
premiums have been paid.
ii) The maximum Loan that can be granted shall be as under :
•
For in-force policies : upto 90% of Surrender Value
•
For paid-up policies : upto 80% of Surrender Value
iii) The Policy shall be assigned absolutely to and held by the
Corporation as security for the repayment of Loan and of
the interest thereon;
iv) Interest on Loan 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. The
applicable interest rate shall be based on the method
approved by IRDAI. The first payment of interest is to be
made on the next Policy anniversary or on the date six
months before the next Policy anniversary whichever
immediately follows the date on which the Loan is
sanctioned and every half year thereafter.;
v) In case of death of the policyholder, until the loan is fully
repaid, the Corporation shall become entitled to deduct the
interest amount on such outstanding loan (principal
amount with interest) as on the date of death from any
immediate benefit(s) i.e. Rider Benefit(s) payable under
the policy and Annual Income Benefits. The principal
amount of loan outstanding shall be recovered from any
rider benefit(s) if payable under the policy else from the
final lumpsum payment.
Page 11 of 20
Plan No.- 933
vi)
Aä`n©U `m n[an¹$Vm Ûmam {ZJ©{_V hmoZo H$s pñW{V _|, {ZJ_ F$U Ed§
CgHo$ {H$gr {hñgo H$s am{e Omo ~H$m`m h¡, ã`mO g{hV nm°{bgr YZ
go H$mQ>Zo H$m A{YH$mar hmoJm&
vii)
vi) In case of exit either by surrender or maturity, the
Corporation shall become entitled to deduct the amount of
Loan or any portion thereof which is outstanding, together
with all interest from the policy moneys.
`hm§ D$na C{„pIV Xo` VmarIm| na F$U na ã`mO Ho$ ^wJVmZ _| MyH$
hmoZo H$s pñW{V _| `{X ~H$m`m F$U Am¡a ã`mO Aä`n©U _yë` go
A{YH$ hmo OmVm h¡ Vmo {ZJ_ Eogr nm°{b{g`m| H$m nyd©g_mnZ H$aZo H$m
hH$Xma hmoJm& nyd©g_mnZ H$s OmZo dmbr Eogr nm°{b{g`m§, Aä`n©U _yë`
Am¡a ã`mO g{hV F$U H$s ~H$m`mam{e Ho$ A§Va Ho$ ^wJVmZ H$s hH$Xma
hm|Jr&
{ZJ_, VrZ _hrZo H$m Zmo{Q>g XoH$a, F$U H$s am{e Cg na Xo`
g_ñV ã`mO g{hV dgyb H$aZo `m dmng _m§JZo H$m A{YH$mar h¡&
vii) In the event of default in payment of loan interest on the due
dates as herein mentioned above, and when the
outstanding loan along with interest is to exceed the
surrender value, the Corporation would be entitled to
foreclose such policies. Such policies when being
foreclosed shall be entitled to payment of the difference of
surrender value and the loan outstanding amount along
with interest, if any.
viii)
6. nm°{bgr H$m g_mnZ:
{ZåZ{bpIV _| go g~go nhbo H$moB© ^r pñW{V K{Q>V hmoZo na, nm°{bgr Vwa§V
Am¡a ñdV: hr g_má hmo OmEJr:
H$) dh VmarI, {Og na _¥Ë`w {hVbm^ H$m EH$_wíV ^wJVmZ/A§{V_ {H$íV
H$m ^wJVmZ {H$`m J`m hmo O¡gm Bg nm°{bgr XñVmdoO Ho$ ^mJ "S>r' H$s
eV© 8 _| {Z{X©ï> h¡; `m
I) {Og VmarI na nm°{bgr Ho$ A§VJ©V Aä`n©U {hVbm^m| H$m {ZnQ>mZ
{H$`m J`m hmo; `m
J) n[an¹$Vm H$s VmarI `{X {ZnQ>mZ H$m {dH$ën Zht MwZm J`m h¡ Vmo; `m
K) {ZnQ>mZ {dH$ën Ho$ A§VJ©V A§{V_ {H$íVm| Ho$ ^wJVmZ na; `m
L) Cg nm°{bgr XñVmdoO Ho$ ^mJ-"S>r' H$s eV© 5 Ho$ C„oI Ho$ AZwgma
F$U Ho$ ã`mO Ho$ ^wJVmZ _| MyH$ hmoZo H$s pñW{V _|; `m
viii) Corporation is entitled to recover or recall the amount of the
Loan with all due interest by giving 3 months notice.
6. Termination of Policy:
The policy shall immediately and automatically terminate on
the earliest occurrence of any of the following events:
a) The date on which lumpsum death benefit/final instalment
of death benefit as specified in Condition 8 of Part D of this
Policy Document is paid; or
b) The date on which surrender benefits are settled under the
policy; or
c) The date of maturity if settlement option is not exercised; or
d) On payment of final installment under Settlement Option; or
e) In the event of default in payment of loan interest as
specified in Condition 5 of Part D of this Policy Document;
or
M) nwZM©bZ Ad{Y g_má hmoZo na `{X nm°{bgr {OgZo àXÎm pñW{V
A{O©V Zht H$s h¡ Ed§ {OgH$m nwZM©bZ Zht H$am`m J`m h¡ Vmo; `m
f) On expiry of Revival Period if the policy, which has not
acquired paid up status, has not been revived within the
revival period; or
N>) {Z:ewëH$ AdbmoH$Z {ZañVrH$aU H$s am{e H$m ^wJVmZ hmo OmZo na; `m
g) On payment of free look cancellation amount; or
O) nm°{bgr XñVmdoµO Ho$ ^mJ S>r Ho$ eV© 2(ii) _| {d{Z{X©ï> J¡a OãVr H$s
pñW{V _|&
7. {Z:ewëH$ AdbmoH$Z Ad{Y: `{X nm°{bgrYmaH$ nm°{bgr Ho$ {Z`_ Ed§ eVm]
go g§Vwï> Zht h¡ Vmo nm°{bgrYmaH$ Ûmam nm°{bgr XñVmdoO àmá H$aZo H$s
VmarI go 15 {XZ H$s {Z:ewëH$ AdbmoH$Z Ad{Y Ho$ Xm¡amZ dh Amn{Îm`m|
H$m H$maU ~VmVo hþE nm°{bgr {ZJ_ H$mo bm¡Q>m gH$Vm h¡ & nm°{bgr àmá hmoZo
na, {ZJ_ nm°{bgr H$mo {ZañV H$a XoJm Am¡a gwajm Ad{Y Ho$ {bE
g_mZwnmVr OmopI_ àr{_`_ (_yb nm°{bgr Ho$ {bE Am¡a AZwd¥{ÕAm| H$m M`Z
{H$`m J`m h¡ Vmo CgHo$ {bE) VWm {M{H$Ëgm Om§M, {deof [anmoQ>m] Am¡a ñQ>m§n
ewëH$ Ho$ à^ma H$mQ>H$a O_m {H$E JE àr{_`_ H$s am{e bm¡Q>m XoJm &
8. _¥Ë`w {hVbm^ {H$íVm| _| boZo H$m {dH$ën:
Mmby Am¡a àXÎm XmoZm| nm°{b{g`m| Ho$ A§VJ©V, _¥Ë`w {hVbm^m| H$mo EH$_wíV boZo
H$s ~Om` 5 `m 10 `m 15 df© H$s MwZr JB© Ad{Y _| {H$íVm| _| boZo H$m
{dH$ën h¡ & nm°{bgr Ho$ A§VJ©V Xo` nyU© `m Am§{eH$ _¥Ë`w {hVbm^m| Ho$ {bE
~r{_V ì`pŠV Ûmam AnZo OrdZH$mb _| Bg {dH$ën H$m M`Z {H$`m Om
gH$Vm h¡ & nm°{bgrYmaH$/~r{_V ì`pŠV Ûmam MwZr JB© am{e (AWm©V {Zdb
Xmdm am{e) `m Vmo gw{Z{üV _yë` Ho$ ê$n _| hmo gH$Vr h¡ AWdm Hw$b Xo`
Xmdm àm{á`m| Ho$ Hw$N> à{VeV Ho$ ê$n _| &
h) In the event of forfeiture as specified in Condition 2 (ii) of
Part D of this Policy Document.
7. Free look period: During the Free Look period of 15 days from
date of receipt of the Policy Document by the Policyholder, if
the Policyholder is not satisfied with the Terms or Conditions of
the policy, he/she may return the policy to the Corporation
stating the reason of objections. On receipt of the same the
Corporation shall cancel the policy and return the amount of
premium deposited after deducting the proportionate risk
premium (for Base Policy and riders, if any) for the period of
cover and charges for medical examination, special reports, if
any and stamp duty.
8. Option to take Death Benefit in installments:
Under this option, the applicable lumpsum amount payable in
case of death of the Life Assured, which shall be payable on
date of maturity under an in-force or paid-up policy, can be
received in instalments over the chosen period of 5 or 10 or 15
years instead of lump sum amount. This option can be
exercised only by the Life Assured during his/her life time; for
full or part of the lumpsum amount payable in case of death, as
specified above. The amount opted by the Life Assured (i.e.
Net Claim Amount) can be either in absolute value or as a
percentage of the total claim proceeds payable.
`h {dH$ën ~r{_V ì`pŠV H$s _¥Ë`w hmoZo na Xo` dm{f©H$ Am` bm^ Ho$ {bE
bmJy Zht hmoJm&
This option shall not be applicable for the Annual Income
Benefit payable on death of the Life Assured.
{H$E JE M`Z Ho$ AZwgma, {H$íVm| H$m A{J«_ ^wJVmZ dm{f©H$ `m AY©dm{f©H$ `m Ì¡_m{gH$ `m _m{gH$ A§Vamb na {H$`m OmEJm Am¡a {d{^Þ àH$ma
Ho$ ^wJVmZm| Ho$ {bE {H$íV H$s Ý`yZV_ am{e {ZåZ àH$ma hmoJr:
The instalments shall be paid in advance at yearly or halfyearly or quarterly or monthly intervals, as opted for, subject to
minimum instalment amount for different modes of payments
being as under:
Mode of Instalment
payment
Minimum Instalment
amount
{H$íV ^wJVmZ H$m àH$ma
Ý`yZV_ {H$íV am{e
_m{gH$
`5,000/-
Ì¡_m{gH$
`15,000/-
Monthly
`5,000/-
Quarterly
`15,000/-
AY©-dm{f©H$
`25,000/-
Half-Yearly
`25,000/-
dm{f©H$
`50,000/-
Yearly
`50,000/-
`{X nm°{bgrYmaH$/~r{_V ì`pŠV Ûmam MwZo JE {dH$ën Ho$ AZwgma, Ý`yZV_
{H$íV H$s am{e H$s ì`dñWm H$aZo Ho$ {bE dm§{N>V am{e go H$_ h¡ Vmo Xmdo
H$s àm{á`m| H$m ^wJVmZ EH$_wíV hr {H$`m OmEJm &
If the Net Claim Amount is less than the required amount to
provide the minimum instalment amount as per the option
exercised by the Life assured, the claim proceed shall be paid
in lump sum only.
Bg {dH$ën Ho$ A§VJ©V {H$íV Ho$ ^wJVmZm| H$s JUZm H$aZo Ho$ {bE bmJy
ã`mO Xam| H$m {ZYm©aU {ZJ_ Ûmam g_`-g_` na {H$`m OmEJm &
The interest rates applicable for arriving at the instalment
payments under this option shall be as fixed by the Corporation
from time to time.
LIC's Jeevan Lakshya
Page 12 of 20
Plan No.- 933
_¥Ë`w {hVbm^ {H$íVm| _| boZo H$m {dH$ën MwZZo Ho$ {bE, ~r{_V ì`pŠV AnZo
OrdZH$mb _| nm°{bgr Ho$ Mmby ahVo hþE {H$gr ^r g_` `h {dH$ën MwZ
gH$Vm h¡, {Og_| {H$íVm| Ho$ ^wJVmZ H$s Ad{Y Am¡a {Og {Zdb am{e Ho$
{bE `h {dH$ën MwZm OmZm h¡, Cg am{e H$mo {d{Z{X©ï> {H$`m OmEJm & Eogo _|
_¥Ë`w Xmdm am{e H$m ^wJVmZ nm°{bgrYmaH$/~r{_V ì`pŠV Ho$ {dH$ën Ho$
AZwgma Zm{_Vr H$mo H$a {X`m OmEJm Am¡a Zm{_Vr H$mo Bg_| {H$gr ^r àH$ma
H$m n[adV©Z H$aZo H$s AZw_{V Zht Xr OmEJr &
9. {ZnQ>mZ {dH$ën (n[an¹$Vm {hVbm^ Ho$ {bE):
{ZnQ>mZ {dH$ën, Mmby Am¡a àXÎm XmoZm| hr nm°{b{g`m| Ho$ A§VJ©V, n[an¹$Vm
{hVbm^ H$s EH$_wíV am{e àmá H$aZo H$s ~Om`, CgH$mo 5 `m 10 `m
15 dfm] H$s MwZr JB© Ad{Y _| {H$íVm| _| boZo H$m {dH$ën h¡ &
nm°{bgrYmaH$ Ûmam Bg {dH$ën H$m MwZmd, Bg nm°{bgr Ho$ A§VJ©V Xo`
n[an¹$Vm-àm{á H$mo nyU© `m Am§{eH$ ^mJ Ho$ {bE, ~r{_V ì`pŠV Ûmam
{H$`m Om gH$Vm h¡ & ~r{_V ì`pŠV Ûmam MwZr JB© am{e (AWm©V {Zdb
Xmdm am{e) `m Vmo gw{Z{üV _yë` Ho$ ê$n _| hmoJr `m Hw$b Xo` Xmdm
àm{á`m| Ho$ Hw$N> à{VeV Ho$ ê$n _| &
{H$E JE M`Z Ho$ AZwgma, {H$íVm| H$m A{J«_ ^wJVmZ dm{f©H$, AY©dm{f©H$, Ì¡_m{gH$ `m _m{gH$ A§Vambm| na {H$`m OmEJm Am¡a {d{^Þ àH$ma
Ho$ ^wJVmZm| Ho$ {bE {H$íVm| H$s Ý`yZV_ am{e {ZåZ àH$ma hmoJr:
9. Settlement Option (for Maturity Benefit):
Settlement Option is an option to receive Maturity Benefit in
instalments over the chosen period of 5 or 10 or 15 years
instead of lumpsum amount under an in-force as well as paidup policy. This option can be exercised by the Life Assured for
full or part of Maturity proceeds payable under the policy. The
amount opted for by the Life Assured (i.e. Net Claim Amount)
can be either in absolute value or as a percentage of the total
claim proceeds payable.
The instalments shall be paid in advance at yearly or halfyearly or quarterly or monthly intervals, as opted for subject to
minimum instalment amount for different mode of payments
being as under:
Monthly
`5,000/-
_m{gH$
`5,000/-
Quarterly
`15,000/-
Ì¡_m{gH$
`15,000/-
Half-Yearly
`25,000/-
AY©-dm{f©H$
`25,000/-
Yearly
`50,000/-
dm{f©H$
`50,000/-
n[an¹$Vm {hVbm^ Ho$ ~Xbo {Og ~r{_V ì`pŠV Zo {ZnQ>mZ {dH$ën
MwZm h¡ `{X dh ì`pŠV Bg {dH$ën H$mo dmng boZm MmhVm h¡ Am¡a
~H$m`m {H$íVm| H$m {d{Z_` H$amZm MmhVm h¡ Vmo ~r{_V ì`pŠV go
{bpIV AZwamoY àmá hmoZo na BgH$s AZw_{V Xr OmEJr & Eogo _m_bo
_|, {ZåZm§{H$V _| go CƒV_ EH$_wíV am{e H$m ^wJVmZ H$a {X`m
OmEJm Am¡a nm°{bgr g_má hmo OmEJr:
If the Net Claim Amount is less than the required amount to
provide the minimum instalment amount as per the option
exercised by the Life Assured, the claim proceed shall be paid
in lumpsum only.
The interest rates applicable for arriving at the instalment
payments under Settlement Option shall be as fixed by the
Corporation from time to time.
For exercising the Settlement Option against Maturity Benefit,
the Life Assured shall be required to exercise option for
payment of net claim amount in instalments at least 3 months
before the due date of maturity claim.
The first payment will be made on the date of maturity and
thereafter, based on the mode of instalment payment opted for
by the Life Assured, every month or three months or six months
or annually from the date of maturity, as the case may be.
After the commencement of Instalment payments under
Settlement Option:
i.
• ^{dî` _| Xo` g_ñV {H$íVm| H$m [a`m`Vr _yë`; AWdm
iii.
Minimum Instalment
amount
Ý`yZV_ {H$íV am{e
{ZnQ>mZ {dH$ën Ho$ A§VJ©V {H$íVm| H$m ^wJVmZ àma§^ hmoZo Ho$ nümV² :
ii.
Mode of Instalment
payment
{H$íV ^wJVmZ H$m àH$ma
`{X ~r{_V ì`pŠV Ûmam MwZo JE {dH$ën Ho$ AZwgma, Ý`yZV_ {H$íV H$s
am{e H$s ì`dñWm H$aZo Ho$ {bE dm§{N>V am{e go H$_ h¡ Vmo Xmdo H$s
àm{á`m| H$m ^wJVmZ EH$_wíV hr {H$`m OmEJm &
{ZnQ>mZ {dH$ën Ho$ A§VJ©V {H$íV Ho$ ^wJVmZm| H$s JUZm H$aZo Ho$ {bE
bmJy ã`mO Xam| H$m {ZYm©aU {ZJ_ Ûmam g_`-g_` na {H$`m OmEJm &
n[an¹$Vm {hVbm^ H$o ~Xbo {ZnQ>mZ {dH$ën MZwZo H$o {bE, ~r{_V ì`pŠV
H$m,o n[an¹$Vm Xmdo H$s X`o VmarI go H$_ go H$_ VrZ _hrZo ndy© {Zdb Xmdm
am{e H$m ^JwVmZ {H$íVm| _| H$aZo H$m {dH$ën MZwZm hmJom &
nhbm ^wJVmZ n[an¹$Vm H$s VmarI na {H$`m OmEJm Am¡a CgHo$ nümV²,
nm°{bgrYmaH$ Ûmam MwZo JE {H$íV Ho$ ^wJVmZ Ho$ àH$ma Ho$ AmYma na,
`WmpñW{V, n[an¹$Vm H$s VmarI go àË`oH$ _hrZo, Ì¡_m{gH$s, AY©dm{f©H$s `m dm{f©H$s na {H$`m OmEJm &
i.
For exercising option to take Death Benefit in instalments, the
Life Assured can exercise this option during his/her lifetime
while in currency of the policy, specifying the period of
Instalment payment and net claim amount for which the option
is to be exercised. The death claim amount shall then be paid
to the nominee as per the option exercised by the Life Assured
and no alteration whatsoever shall be allowed to be made by
the nominee.
• (_yb am{e {OgHo$ {bE {ZnQ>mZ {dH$ën MwZm J`m Wm) _| go
(^wJVmZ H$s JB© Hw$b {H$íVm| H$s am{e) H$mo KQ>mH$a
^{dî` Ho$ {H$íV ^wJVmZm| H$s [a`m`Vr Xa na bmJy ã`mO Xa H$m
{ZYm©aU {ZJ_ Ûmam g_`-g_` na {H$`m OmEJm &
{ZnQ>mZ {dH$ën MwZZo dmbo ~r{_V ì`pŠV H$s _¥Ë`w H$s pñW{V _|,
~H$m`m {H$íVm| H$m ^wJVmZ, ~r{_V ì`pŠV Ûmam MwZo JE {dH$ën Ho$
AZwgma Zm{_Vr H$mo {H$`m OmZm Omar ahoJm Am¡a Bg_| Zm{_Vr H$mo
H$moB© ^r n[adV©Z H$aZo H$s AZw_{V Zht hmoJr &
ii
If a Life Assured, who has exercised Settlement Option
against Maturity Benefit, desires to withdraw this option
and commute the outstanding instalments, the same shall
be allowed on receipt of written request from the Life
Assured. In such case, the lump sum amount which is
higher of the following shall be paid and policy shall
terminate,
•
discounted value of all the future instalments due; or
•
(the original amount for which settlement option was
exercised) less (sum of total instalments already paid);
The interest rate applicable for discounting the future
instalment payments shall be as fixed by the Corporation
from time to time.
iii. After the Date of Maturity, in case of death of the Life
Assured, who has exercised Settlement Option, the
outstanding instalments will continue to be paid to the
nominee as per the option exercised by the Life Assured
and no alteration whatsoever shall be allowed to be made
by the nominee.
^mJ - "B©'
bmJy Zht
PART E
Not Applicable.
^mJ - "E\$': AÝ` {Z`_ Ed§ eV]
PART – F:
OTHER TERMS AND CONDITIONS
1. H$) g_ZwXoeZ: g_`-g_` na g§emo{YV ~r_m A{Y{Z`_, 1938 H$s
Ymam 38 Ho$ AZwgma, Bg `moOZm Ho$ A§VJ©V g_ZwXoeZ H$s AZw_{V
h¡& Ymam 38 Ho$ dV©_mZ àmdYmZ Bg nm°{bgr XñVmdoµO Ho$ n[a{eï>-1
_| {Z{hV h¡ &
1. a) Assignments: Assignment is allowed under this plan as
per Section 38 of the Insurance Act, 1938, as amended
from time to time. The current provisions of Section 38 are
contained in Annexure-1 of this policy document.
LIC's Jeevan Lakshya
Page 13 of 20
Plan No.- 933
g_ZwXoeZ H$m Zmo{Q>g, n§OrH$aU Ho$ {bE {ZJ_ Ho$ Cg H$m`m©b` _|
àñVwV {H$`m OmZm Mm{hE, Ohm§ Bg nm°{bgr go g§~§{YV godmE§ Xr
OmVr h¢ &
I) Zm_m§H$Z: g_`-g_` na g§emo{YV ~r_m A{Y{Z`_, 1938 H$s Ymam
39 Ho$ AZwgma, OrdZ ~r_m Ho$ nm°{bgrYmaH$ Ûmam Zm_m§H$Z {H$`m
OmZm dm§{N>V h¡ & Ymam 39 Ho$ dV©_mZ àmdYmZ Bg nm°{bgr XñVmdoO
Ho$ n[a{eï>-2 _| {Z{hV h¢ &
Zm_m§H$Z H$m Zmo{Q>g, n§OrH$aU Ho$ {bE {ZJ_ Ho$ Cg H$m`m©b` _| àñVwV
{H$`m OmZm Mm{hE, Ohm§ Bg nm°{bgr go g§~§{YV godmE§ Xr OmVr h¢ &
Zm_m§H$Z Ho$ n§OrH$aU _| {ZJ_ H$moB© {Oå_oXmar Zht boVm Am¡a Z hr CgH$s
d¡YVm `m H$mZyZr à^md Ho$ {df` _| H$moB© _V àH$Q> H$aVm h¡ &
2. AmË_hË`m g§~§Yr AndO©Z: _¥Ë`w {hVbm^ ^wJVmZ hoVw Omo ^r eV] Bg
nm°{bgr ànÌ _| H$ht ^r C{„pIV hm| na§Vw AmË_hË`m go hþB© _¥Ë`w H$s
AdñWm _| Xmdo H$m ^wJVmZ {ZåZ{bpIV eVm] Ho$ A§VJ©V {H$`m OmEJm:
i.
`{X ~r{_V ì`pŠV (Mmho {d{já hmo `m ñdñW), OmopI_ àma§^ hmoZo H$s
VmarI go 12 _hrZo Ho$ A§Xa {H$gr g_` AmË_hË`m H$a boVm h¡ Vmo
{H$Ýht H$am|, A{V[aŠV àr{_`_m| Ed§ Ad{Y ~r_m AZwd¥{Õ àr{_`_ Ho$
Abmdm AÝ` AZwd¥{Õ àr{_`_m|, `{X H$moB© hmo, H$mo N>mo‹S>H$a Hw$b AXm
àr{_`_m| Ho$ 80 à{VeV Ho$ Abmdm AÝ` {H$gr Xmdo na {ZJ_ {dMma
Zht H$aoJm, ~eV} {H$ nm°{bgr Mmby hmo&
ii.
`{X ~r{_V ì`pŠV (Mmho {d{já hmo `m ñdñW), nwZM©bZ H$s VmarI
go 12 _hrZo Ho$ A§Xa AmË_hË`m H$a boVm h¡ Vmo _¥Ë`w H$s VmarI VH$
AXm {H$E JE àr{_`_m| (H$am|, A{V[aŠV àr{_`_ Am¡a Ad{Y ~r_m
AZwd¥{Õ àr{_`_m| Ho$ Abmdm AZwd¥{Õ àr{_`_m| H$mo N>mo‹S>H$a) H$s 80
à{VeV am{e AWdm _¥Ë`w H$s {V{W na CnbãY Aä`n©U _yë` _| go
Omo ^r A{YH$ hmoJm, dh Xo` hmoJm& Bg nm°{bgr Ho$ A§VJ©V, {ZJ_
{H$gr AÝ` Xmdo na {dMma Zht H$aoJm& àXÎm _yë` àmá {H$E {~Zm
H$mbmVrV hþB© nm°{bgr na `h Ymam bmJy Zht hmoJr Am¡a Eogr nm°{b{g`m|
Ho$ A§VJ©V Hw$N> ^r Xo` Zht hmoJm&
J¡a-OãVr Cn~§Ym| Ho$ A§VJ©V C{„pIV Ny>Q>, AmË_hË`m go hþB© _¥Ë`w Ho$
_m_bo _| bmJy Zht hmoJr&
3. H$a: ^maV gaH$ma AWdm {H$gr AÝ` g§d¡Ym{ZH$ H$a àm{YH$mar Ûmam Eogr
~r_m `moOZmAm| na `{X H$moB© H$a bJm`m OmVm h¡, Vmo dh Am¡a bmJy H$am| H$s
Xa H$a-H$mZyZm| Ho$ AZwgma hm|Jo &
àM{bV Xam| na bmJy H$am| H$s am{e nm°{bgrYmaH$ Ûmam àr{_`_m| (_yb
nm°{bgr Am¡a `{X H$moB© AZwd¥{Õ h¡ Vmo CgHo$ {bE) H$s am{e, ~r_mboIZ Ho$
H$maU nm°{bgr Ho$ A§VJ©V br JB© A{V[aŠV am{e g{hV (`{X H$moB© hmo ),
nm°{bgrYmaH$ Ûmam Xo` hmoJr, Omo AbJ go Am¡a nm°{bgrYmaH$ Ûmam Xo`
àr{_`_ Ho$ A{V[aŠV dgyb H$s OmEJr & Bg `moOZm Ho$ A§VJ©V Xo`
{hVbm^m| H$s JUZm H$aZo Ho$ {bE H$am| H$s am{e H$mo em{_b Zht {H$`m
OmEJm &
4. Xmdo Ho$ {bE gm_mÝ` AnojmE§:
H$) _¥Ë`w Xmdm : ~r{_V ì`pŠV H$s _¥Ë`w H$s pñW{V _| Xmdm XmpIb H$aVo
hþE, XmdmH$Vm© {ZJ_ H$s g§Vw{ï> Ho$ AZwgma Omo gm_mÝ` AnojmE| Xm{Ib
H$aoJm, do hmoJ|: {ZJ_ Ûmam {ZYm©[aV Xmdm ànÌ Ho$ gmW _yb nm°{bgr
XñVmdoO, ~¢H$ ImVo _| Xmdm am{e grYo O_m H$aZo Ho$ {bE XmdmH$Vm© go
EZB©E\$Q>r AmXoe-nÌ, A{YH$ma H$m à_mU, _¥Ë`w H$m à_mU, _¥Ë`w go
nhbo `{X H$moB© BbmO hþAm hmo, ñHy$b/H$m°boO/{Z`moŠVm H$m à_mU,
Omo ^r bmJy hmoVo hm| & `{X nm°{bgr Ho$ A§VJ©V Am`w ñdrH¥$V Zht h¡ Vmo
~r{_V ì`pŠV H$s Am`w H$m à_mU ^r XmpIb {H$`m OmEJm &
H$moB© ^r Xmdm ñdrH$m`© hmoZo Ho$ {bE _¥Ë`w H$s VmarI go 90 {XZ Ho$
A§Xa, _¥Ë`w H$s gyMZm _¥Ë`w à_mUnÌ Ho$ gmW {ZJ_ Ho$ Cg H$m`m©b`
_| A{Ygy{MV H$s OmZr Mm{hE, Ohm§ nm°{bgr go g§~§{YV godmE§ Xr
OmVr h¢ & VWm{n, XmdmH$Vm© Ho$ Ûmam gƒo Xmdm| H$s gyMZm _| hþB© Xoar
H$mo, {ZJ_ Ho$ Ûmam JwU-Xmof Ho$ AmYma na Am¡a XmdmH$Vm© Ho$ AmYma
na VWm XmdmH$Vm© Ho$ {Z`§ÌU go ~mha Ho$ H$maUm| go hþB© Xoar à_m{UV
hmoZo na bmJy {H$`m Om gH$Vm h¡ &
I) n[an¹$Vm/Aä`n©U Xmdm: O~ nm°{bgr H$m A§V n[an¹$Vm Xmdo Ho$
ê$n _| hmo `m nm°{bgr Ho$ Aä`n©U H$s pñW{V _|, ~r{_V ì`pŠV H$mo,
_yb nm°{bgr XñVmdoO Ho$ gmW {d_wpŠV ànÌ, ~¢H$ ImVo _| Xmdm am{e
grYo O_m H$aZo Ho$ {bE XmdmH$Vm© go EZB©E\$Q>r AmXoe-nÌ Ho$ gmW
hr Am`w H$m à_mU (`{X Am`w nhbo ñdrH¥$V Zht H$s JB©) XmpIb
H$aZm hmoJm &
Cn`w©ŠV XñVmdoµOm| Ho$ Abmdm, do Amdí`H$VmE§ ^r àñVwV H$aZo H$mo H$hm Om
gH$Vm h¡, Omo {H$gr d¡Ym{ZH$ àmdYmZ Ho$ A§VJ©V AmXo{eV hm| `m H$mZyZ Ho$
AZwgma dm§{N>V hm| &
5. àmH¥${VH$/An[ahm`© AmnXm: àmH¥${VH$ AmnXm, amOH$s` H$ma©dmB©, h‹S>Vmb,
Vmbm~§Xr, {H$gr gaH$ma `m {H$gr ^r d¡Ym{ZH$ àm{YH$mar Ho$ {H$gr H$mZyZ
LIC's Jeevan Lakshya
The notice of assignment should be submitted for
registration to the office of the Corporation, where the
policy is serviced.
b) Nominations: Nomination by the holder of a policy of life
assurance on his/her own life is allowed as per Section 39
of the Insurance Act, 1938 as amended from time to time.
The current provisions of Section 39 are contained in
Annexure-2 of this policy document.
The notice of nomination or change of nomination should be
submitted for registration to the office of the Corporation,
where the policy is serviced. In registering nomination the
Corporation does not accept any responsibility or express any
opinion as to its validity or legal effect.
2. Suicide Exclusion: Notwithstanding the provision of benefits
payable on death mentioned anywhere in this Policy
Document, the provisions related to claim payment in case of
death due to suicide shall be subject to the conditions as
specified herein under:
i.
If the Life Assured (whether sane or insane) commits
suicide at any time within 12 months from the date of
commencement of risk, the Corporation will not entertain
any claim under this policy except for 80% of the total
premiums paid excluding any taxes, extra premium and
rider premium(s) other than term assurance rider, if any,
provided the policy is in-force.
ii. If the Life Assured (whether sane or insane) commits
suicide within 12 months from date of revival, an amount
which is higher of 80% of the total premiums paid till the
date of death (excluding any taxes, extra premium and
rider premium(s) other than term assurance rider, if any) or
the surrender value available as on the date of death, shall
be payable. The Corporation will not entertain any other
claim under this policy. This clause shall not be applicable
for a policy lapsed without acquiring paid-up value and
nothing shall be payable under such policies.
The relaxation mentioned under Non-forfeiture provisions shall
not be applicable in case of death due to suicide.
3. Tax: Statutory Taxes, if any, imposed on such insurance plans
by the Government of India or any other constitutional tax
Authority of India shall be as per the Tax laws and the rate of tax
as applicable from time to time.
The amount of applicable taxes as per the prevailing rates,
shall be payable by the policyholder on premiums (for base
policy and rider(s), if any) including extra premium if any which
shall be collected separately over and above in addition to the
premiums payable by the policyholder. The amount of tax paid
shall not be considered for the calculation of benefits payable
under the plan.
4. Normal requirements for a claim:
a) Death Claim: The normal documents which the claimant
shall submit while lodging the claim in case of death of the
Life Assured shall be claim forms, as prescribed by the
Corporation, accompanied with original policy document,
NEFT mandate from the claimant for direct credit of the
claim amount to the bank account, proof of title, proof of
death, medical treatment prior to the death, (if any), school/
college/ employer's certificate, whichever is applicable, to
the satisfaction of the Corporation. If the age is not admitted
under the policy, the proof of age of the Life assured shall
also be submitted.
Within 90 days from the date of death, intimation of death
along with death certificate must be notified in writing to the
office of the Corporation where the policy is serviced for any
claims to be admissible. However, delay in intimation of the
genuine claim by the claimant, may be condoned by the
Corporation, on merit, and where delay is proved to be for
the reasons beyond his/her control.
b) Maturity/Surrender Claim: Where the policy results into a
maturity claim or in case of surrender of the policy, the Life
Assured shall submit the discharge form along with the
original policy document, NEFT mandate from the claimant
for direct credit of the claim amount to the bank account
besides proof of age, if the age is not admitted earlier.
In addition to above, any requirement mandated under any
statutory provision or as may be required as per law shall also
be required to be submitted.
5. Force Majeure: In the event where the Corporation's
performance or any other obligations are prevented or
Page 14 of 20
Plan No.- 933
hindered as a consequence of any act of God or state, strike,
lock out, legislation or restriction by any government or any
other statutory authority or any other circumstances that lie
beyond the Corporation's anticipation or control, the
performance of this policy shall be wholly or partially
suspended during the continuance of such force majeure. The
Corporation shall resume its obligations towards the Policy as
soon as the Force Majeure event ceases. The Corporation
undertakes to keep the IRDAI informed and seek prior
approval before effecting any of these changes.
AWdm à{V~§Y AWdm {ZJ_ Ho$ nydm©Zw_mZ `m {Z`§ÌU Ho$ ~mha H$s
n[apñW{V`m| Ho$ \$bñdê$n, `{X {ZJ_ H$m H$m`©-{ZînmXZ `m AÝ` H$Îm©ì`
~m{YV hmoZo H$s pñW{V _|, Eogr AmnXm Ho$ Omar ahZo Ho$ Xm¡amZ Bg nm°{bgr
H$m {ZînmXZ nyU©V: `m Am§{eH$ ê$n go {Zb§{~V ahoJm& BZ_| go H$moB© ^r
n[adV©Z H$aZo go nhbo, AmB©AmaS>rEAmB© H$mo gyMZm XoZo Am¡a CZH$m nyd©AZw_moXZ àmá H$aZo Ho$ {bE, {ZJ_ dMZ~Õ h¡&
6. {dYm`r n[adV©Z: Bg nm°{bgr Ho$ A§VJ©V Xo` àr{_`_ Ed§ {hVbm^ g{hV,
{Z`_ Ed§ eVm] g§~§{YV {dYmZ Ed§ {d{Z`_m| Ho$ AZwgma n[adV©Zerb h¢ &
7. {hVbm^ {MÌU: AmnH$m {ZX}e {Z{_©V {hVbm^ {MÌU Bg nm°{bgr
XñVmdoO Ho$ gmW g§b¾ h¢ &
6. Legislative Changes: The Terms and Conditions including
the premiums and benefits payable under this policy are
subject to variations in accordance with the relevant
Legislation & Regulations.
^mJ "Or' : d¡Ym{ZH$ àmdYmZ
7. Benefit Illustration: Your customized Benefit Illustration is
enclosed to this document.
~r_m A{Y{Z`_, 1938 H$s Ymam 45 :
PART – G: STATUTORY PROVISIONS
g_`-g_` na g§emo{YV ~r_m A{Y{Z`_, 1938 H$s Ymam 45 Ho$ àmdYmZ
g_`-g_` na g§emo{YV ê$n _| bmJy hm|Jo & dV©_mZ àmdYmZ Bg nm°{bgr
XñVmdoO H$s n[a{eï> 3 _| {Z[hV h¢ &
{eH$m`V {ZdmaU aMZmV§Ì:
{ZJ_ H$s :
J«mhH$m| Ho$ {eH$m`Vm| Ho$ {ZdmaU Ho$ {bE emIm/ _ÊS>br`/ joÌr`/ Ho$ÝÐr`
H$m`m©b`m| _| {ZJ_ Ho$ {eH$m`V {ZdmaU A{YH$mar hmoVo h¢ & J«mhH$m| H$s
{eH$m`Vm| Ho$ erK« {ZdmaU Ho$ {bE {ZJ_ Zo AnZo J«mhH$ nmoQ>©b (do~gmBQ>:
http://www.licindia.in) Ho$ _mÜ`_ go J«mhH$-AZwHy$b, g_mH${bV {eH$m`V
à~§YZ àUmbr H$s ewê$AmV H$s h¡, Ohm§ na H$moB© ^r n§OrH¥$V nm°{bgrYmaH$
{eH$m`V H$m n§OrH$aU H$am gH$Vm h¡ Am¡a CgH$s pñW{V na Ñ{ï> aI
gH$Vm h¡& {H$gr ^r {eH$m`V Ho$ {ZdmaU Ho$ {bE J«mhH$ B©-_ob
co_crmgrv@licindia.com na ^r g§nH©$ H$a gH$Vo h¢ &
_¥Ë`w Xmdm| Ho$ AñdrH¥${V Ho$ {ZU©` go Ag§Vwï> XmdmH$Vm©Am| Ho$ nmg, AnZo _m_bm|
Ho$ nwZarjU Ho$ {bE joÌr` H$m`m©b` Xmdm {eH$m`V {ZdmaU g{_{V `m Ho$ÝÐr`
H$m`m©b` Xmdm {eH$m`V {ZdmaU g{_{V Ho$ nmg bo OmZo Ho$ {dH$ën h¢ & Cƒ
Ý`m`mb`/{Obm Ý`m`mb` H$m EH$ Ý`m`mYre g^r Xmdm {eH$m`V {ZdmaU
g{_{V`m| H$m gXñ` hmoVm h¡ &
AmB©AmaS>rEAmB© H$s:
`{X J«mhH$ h_mao CÎma go g§Vwï> Zht h¡ `m h_go 15 {XZm| Ho$ A§Xa H$moB© CÎma
Zht {_bVm h¡ Vmo J«mhH$, {ZåZ{bpIV {H$gr ^r _mÜ`_ go AmB©AmaS>rEAmB© Ho$
{eH$m`V H$j _| Om gH$Vm h¡:
•
Q>mob-\«$s ({Z:ewëH$) Z§~a 155255 / 18004254732 (AWm©V
AmB©AmaS>rEAmB© H$m {eH$m`V Q>obr\$moZ Ho$ÝÐ) _| \$moZ H$aHo$ &
•
complaints@irdai.gov.in na B©-_ob H$aHo$
•
B§Q>aZoQ> Ho$ _mÜ`_ go http://www.igms.irdai.gov.in na {eH$m`V XO©
H$aHo$
•
Hw$[a`a/nÌ Ûmam {eH$m`V ^oOZo Ho$ {bE nVm: Cn^moŠVm _m_bm {d^mJ,
^maVr` ~r_m {d{Z`m_H$ Ed§ {dH$mg àm{YH$aU, gd} g§»`m - 115/1,
\$mBZ|{e`b {S>pñQ´>ŠQ>, ZmZH$am_Jw‹S>m, JmMr ~mdbr, h¡Xam~mX 500032
(Vob§JmZm)
bmoH$nmb H$s:
Xmdo go g§~§{YV {eH$m`Vm| Ho$ {ZdmaU Ho$ {bE, XmdmH$Vm© ~r_m bmoH$nmb Ho$ nmg
^r Om gH$Vo h¢ Omo J«mhH$m| H$mo H$_ bmJV na Ëd[aV _Ü`ñWVm àXmZ H$aVo h¢&
o o _m_bm| go g~§{§YV {eH$m`V
~r_m bmHo$nmb {Z`_mdbr, 2017 H$o AZg
w ma, bmHo$nmb Eg
AWdm n[admX àmá H$a gH$Vo h¢ Ama¡ CZ na {dMma H$a gH$Vo h,¢ Og
¡ o {H$:
H$) Xmdm| Ho$ {ZnQ>mZ _|, ^maVr` ~r_m {d{Z`m_H$ Ed§ {dH$mg àm{YH$aU
A{Y{Z`_, 1999 Ho$ A§VJ©V ~ZmE JE {d{Z`_m| _| {d{Z{X©ï> g_`-gr_m
go A{YH$ Xoar;
I) OrdZ ~r_mH$Vm©, gmYmaU ~r_mH$Vm© `m ñdmñÏ` ~r_mH$Vm© Ûmam Xmdm| H$s
Am§{eH$ `m nyU© AñdrH¥${V;
J) ~r_m nm°{bgr H$s eVm] Ho$ AZwgma AXm {H$E JE `m Xo` àr{_`_m| na
{eH$m`V;
K) nm°{bgr XñVmdoO _| `m nm°{bgr g§{dXm _| {H$gr ^r g_` nm°{bgr Ho$ {Z`_
Ed§ eVm] na AÝ`Wm H$WZ H$aZm;
L) ~r_m nm°{bgr H$s H$mZyZr g§aMZm, O~{H$ {eH$m`V Xmdo go g§~§{YV hmo
M) ~r_mH$Vm©Am|, CZHo$ H$m`©H$Vm©Am| Ed§ _Ü`ñWm| Ho$ {dê$Õ nm°{bgr godm g§~§Yr
{eH$m`V;
LIC's Jeevan Lakshya
Section 45 Of Insurance Act, 1938:
The provision of Section 45 of the Insurance Act, 1938 as amended
from time to time shall be applicable. The current provisions are
contained in Annexure-3 of this policy document.
Grievance Redressal Mechanism:
Of the Corporation:
The Corporation has Grievance Redressal Officers at Branch/
Divisional/ Zonal/ Central Office to redress grievances of
customers. For ensuring quick redressal of Customer grievances
the Corporation has introduced Customer friendly Integrated
Complaint Management System through our Customer
Portal (website) which is http://www.licindia.in, where a
registered policy holder can directly register complaint/ grievance
and track its status. Customers can also contact at e-mail id
co_crmgrv@licindia.com for redressal of any grievances.
Claimants not satisfied with the decision of death claim repudiation
have the option of referring their cases for review to Zonal Office
Claims Dispute Redressal Committee or Central Office Claims
Dispute Redressal Committee. A retired High Court/ District Court
Judge is member of each of the Claims Dispute Redressal
Committees.
Of IRDAI:
In case the customer is not satisfied with the response or does not
receive a response from us within 15 days, then the customer may
approach the Grievance Cell of the IRDAI through any of the
following modes:
•
Calling Toll Free Number 155255 / 18004254732 (i.e. IRDAI
Grievance Call Centre)
•
Sending an email to complaints@irdai.gov.in
•
Register the complaint online at http://www.igms.irdai.gov.in
•
Address for sending the complaint through courier / letter:
Consumer Affairs Department, Insurance Regulatory and
Development Authority of India, Survey No.115/1, Financial
District, Nanakramguda, Gachibowli, Hyderabad- 500032,
Telangana.
Of Ombudsman:
For redressal of Claims related grievances, claimants can also
approach Insurance Ombudsman who provides for low cost and
speedy arbitration to customers.
The Ombudsman, as per Insurance Ombudsman Rules, 2017, can
receive and consider complaints or disputes relating to the matters
such as:
a). Delay in settlement of claims, beyond the time specified in the
regulations, framed under the Insurance Regulatory and
Development Authority of India Act, 1999;
b). Any partial or total repudiation of claims by the life insurer,
General insurer or the health insurer;
c). Disputes over premium paid or payable in terms of insurance
policy;
d). Misrepresentation of policy terms and conditions at any time in
the policy document or policy contract;
e). Legal construction of insurance policies insofar as the dispute
relates to claim;
f). Policy servicing related grievances against insurers and their
agents and intermediaries;
Page 15 of 20
Plan No.- 933
N>) Eogr OrdZ ~r_m nm°{bgr, gmYmaU ~r_m nm°{bgr ñdmñÏ` ~r_m nm°{bgr
g{hV Omar H$aZm, Omo àñVmdH$ Ûmam àñVwV àñVmd-nÌ Ho$ AZwgma Z hmo;
O) OrdZ ~r_m VWm ñdmñÏ` g{hV gmYmaU ~r_m Ho$ A§VJ©V àr{_`_ àmá
H$aZo Ho$ ~mX ^r nm°{bgr Omar Z H$aZm;
P) ~r_m A{Y{Z`_, 1938 Ho$ `m g_`-g_` na AmB©AmaS>rEAmB© Ûmam Omar
{d{Z`_m|, n[anÌm|, {Xem{ZX}em| `m AZwXoem| `m nm°{bgr g§{dXm Ho$ {Z`_ Ed§
eVm] Ho$ C„§KZ go CËnÞ H$moB© AÝ` _m_bm, Ohm§ VH$ {H$ do Ymam (H$) go
(M) _| C{„pIV _m_bm| go g§~§{YV hm| &
ZmoQ>: Bg XñVmdoO _| Cpëb{IV {Z`_m| Ed§ eVm] H$s ì`m»`m Ho$ {df` _| H$moB©
{eH$m`V hmoZo H$s pñW{V _|, A§J«oOr ^mfm§Va {d{Y_mÝ` hmoJm &
Amngo AZwamoY h¡ {H$ Amn Bg nm°{bgr H$s Om§M H$a b| Am¡a `{X Bg_| H$moB©
JbVr nmB© OmE, Vmo Bg nm°{bgr H$s gwYma Ho$ {bE Vwa§V bm¡Q>m X| &
g). Issuance of life insurance policy, general insurance policy
including health insurance policy which is not in conformity with
the proposal form submitted by the proposer;
h). Non-issuance of insurance policy after receipt of premium in
life insurance and general insurance including health
insurance; and
I). Any other matter resulting from the violation of provisions of the
Insurance Act, 1938 or the regulations, circulars, guidelines or
instructions issued by the IRDAI from time to time or the terms
and conditions of the policy contract, insofar as they relate to
issues mentioned at clauses (a) to (f)
Note: In case of dispute in respect of interpretation of terms and
conditions mentioned in this document, the English version shall
stand valid.
YOU ARE REQUESTED TO EXAMINE THIS POLICY, AND IF
A N Y M I S TA K E B E F O U N D T H E R E I N , R E T U R N I T
IMMEDIATELY FOR CORRECTION.
n[a{eï> - 1
g_ZwXoeZ: ~r_m A{Y{Z`_, 1938 H$s Ymam 38 Ho$ AZwgma
1) {H$gr nm°{bgr H$m nyU© AWdm Am§{eH$ hñVm§VaU `m g_ZwXoeZ, Mmho dh
à{V\$b Ho$ ~Xbo _| hmo `m {~Zm à{V\$b Ho$, nm°{bgr Ho$ D$na hr EH$
n¥ð>m§H$Z H$aHo$ AWdm AbJ go EH$ ànÌ Ho$ Ûmam {H$`m Om gH$Vm h¡ {Og
na XmoZm| hr pñW{V`m| _| hñVm§VaUH$Vm© `m g_ZwXoeH$ `m CgHo$ {d{YdV
àm{YH¥$V A{^H$Vm© Ho$ hñVmja hm|Jo & Bg na H$_ go H$_ EH$ Jdmh Ûmam
gmú`m§{H$V {H$`m OmEJm Am¡a Bg_| {deof ê$n go hñVm§VaU AWdm
g_ZwXoeZ Ho$ VÏ` H$m, CgHo$ H$maUm| H$m, g_ZwXo{eVr Ho$ nyd©M[aÌ H$m VWm
g_ZwXoeZ H$s eVm] H$m C„oI {H$`m OmEJm &
2) Ohm§ {ZJ_ Ho$ nmg `h {dœmg H$aZo H$m n`m©á H$maU h¡ {H$ Eogm hñVm§VaU
`m g_ZwXoeZ àm_m{UH$ Zht h¡ `m nm°{bgrYmaH$ Ho$ {hV _| Zht h¡ `m
gmd©O{ZH$ {hV _| Zht h¡ `m ~r_m nm°{bgr H$m gm¡Xm H$aZo Ho$ {bE {H$`m
J`m h¡ Vmo ~r_mH$Vm© Cn IÊS> (1) Ho$ A§VJ©V {H$E JE Eogo hñVm§VaU `m
g_ZwXoeZ Ho$ n¥ð>m§H$Z H$mo ñdrH$ma H$a gH$Vm h¡ `m CgHo$ D$na H$moB©
H$ma©dmB© H$aZo go _Zm H$a gH$Vm h¡ &
3) n¥ð>m§H$Z na H$moB© H$ma©dmB© H$aZo go _Zm H$aZo go nhbo, ~r_mH$Vm© Eogr _Zmhr
Ho$ H$maU {bpIV ê$n _| XO© H$aoJm Am¡a nm°{bgrYmaH$ Ûmam Eogo hñVm§VaU
`m g_ZwXoeZ H$m Zmo{Q>g {XE OmZo Ho$ A{YH$V_ 30 {XZm| Ho$ A§Xa
nm°{bgrYmaH$ H$mo CZ H$maUm| H$s gyMZm XoJm &
4) ~r_mH$Vm© Ûmam Eogo hñVm§VaU `m g_ZwXoeZ na H$ma©dmB© Z H$aZo Ho$ {ZU©`
go `{X {H$gr ì`pŠV H$mo {eH$m`V h¡ Vmo Eogr _Zmhr Ho$ H$maUm| dmbr gyMZm
àmá hmoZo Ho$ 30 {XZ Ho$ A§Xa dh ì`pŠV àm{YH$mar Ho$ gm_Zo Xmdm H$a
gH$Vm h¡ &
5) Cn IÊS>> (2) Ho$ àmdYmZm| Ho$ AYrZ, Eogo n¥ð>m§H$Z Ho$ {ZînmXZ na `m
ànÌ Ho$ {d{YdV² gmú`m§{H$V hmo OmZo na, hñVm§VaU `m g_ZwXoeZ nyU© VWm
{H«$`merb hmo OmEJm & {H$ÝVw `{X Eogm hñVm§VaU `m g_ZwXoeZ ~r_mH$Vm© Ho$
nj _| h¡ Vmo dh {H$gr ~r_mH$Vm© Ho$ {dê$Õ H$m`©H$mar Zht hmoJm Am¡a Bggo
hñVm§Var `m g_ZwXo{eVr H$mo `m CgHo$ H$mZyZr à{V{Z{Y H$mo Eogr nm°{bgr
H$s am{e na `m nm°{bgr _| à{V^yV am{e na dmX MbmZo H$m H$moB© A{YH$ma
V~ VH$ Zht {_boJm O~ VH$ hñVm§VaU `m g_ZwXoeZ H$s {bpIV gyMZm
Am¡a CŠV n¥ð>m§H$Z `m dh ànÌ `m hñVm§VaUH$Vm© Am¡a hñVm§Var Ûmam
AWdm CZHo$ {d{dYV àm{YH¥$V A{^H$Vm© Ûmam gË`m{nV CgH$s EH$ à{V
~r_mH$Vm© H$mo Z Xo &
~eV} {H$ Ohm± ~r_mH$Vm© ^maV _| EH$ go A{YH$ ñWmZm| na AnZm ì`dgm`
MbmVm h¡ Vmo Eogm Zmo{Q>g Ho$db Cgr ñWmZ na {X`m OmEJm, Ohm§ na Cg
nm°{bgr go g§~§{YV godmE§ Xr OmVr h¢ &
6) {Og VmarI na Cn IÊS> (5) _| C{„pIV Zmo{Q>g ~r_mH$Vm© H$mo {X`m
OmVm h¡, dh VmarI nm°{bgr _| é{M aIZo dmbo ì`pŠV`m| Ho$ ~rM,
hñVm§VaU `m g_ZwXoeZ Ho$ g^r Xmdm| H$s àmW{_H$Vm H$mo {d{Z`{_V H$aoJr
Am¡a `{X H$ht na EH$ go A{YH$ hñVm§VaU `m g_ZwXoeZ Ho$ ànÌ h¢ Vmo
Eogo ànÌm| Ho$ A§VJ©V Xmdm| H$s àmW{_H$Vm Cgr H«$_ go g§Mm{bV hmoJr, {Og
H«$_ _| Cn IÊS> (5) _| C{„pIV Zmo{Q>g {XE JE h¢ &
`{X g_ZwXo{e{V`m| Ho$ ~rM ^wJVmZ H$s àmW{_H$Vm H$mo boH$a H$moB© _V^oX
hmoVm h¡ Vmo Cg {ddmX H$mo àm{YH$mar Ho$ nmg ^oO {X`m OmEJm &
7) Cn IÊS> (5) _| C{„pIV Zmo{Q>g àmá hmoZo na, ~r_mH$Vm© Eogo hñVm§VaU
`m g_ZwXoeZ H$m, CgH$s VmarI Am¡a hñVm§Var `m g_ZwXo{eVr Ho$ Zm_ Ho$
VÏ`m| H$mo XO© H$aoJm Am¡a Eogm Zmo{Q>g XoZo dmbo ì`pŠV `m hñVm§Var `m
g_ZwXo{eVr Ho$ AZwamoY na Am¡a {d{Z`_m| Ho$ A§VJ©V {ZYm©[aV ewëH$ AXm
H$aZo na, Eogo Zmo{Q>g H$s àm{á H$s {bpIV nmdVr XoJm Am¡a Eogr nmdVr
LIC's Jeevan Lakshya
Annexure - 1
Assignment - As per Section 38 of the Insurance Act 1938
1) A transfer or assignment of a policy of insurance, wholly or in
part, whether with or without consideration, may be made only
by an endorsement upon the policy itself or by a separate
instrument, signed in either case by the transferor or by the
assignor or his duly authorised agent and attested by at least
one witness, specifically setting forth the fact of transfer or
assignment and the reasons thereof, the antecedents of the
assignee and the terms on which the assignment is made.
2) An insurer may, accept the transfer or assignment, or decline to
act upon any endorsement made under sub-section(1), where
it has sufficient reason to believe that such transfer or
assignment is not bonafide or is not in the interest of the
policyholder or in public interest or is for the purpose of trading
of insurance policy.
3) The insurer shall, before refusing to act upon the endorsement,
record in writing the reasons for such refusal and communicate
the same to the policyholder not later than thirty days from the
date of the policy-holder giving notice of such transfer or
assignment.
4) Any person aggrieved by the decision of an insurer to decline to
act upon such transfer or assignment may within a period of
thirty days from the date of receipt of the communication from
the insurer containing reasons for such refusal, prefer a claim
to the Authority.
5) Subject to the provisions in sub-section (2), the transfer or
assignment shall be complete and effectual upon the
execution of such endorsement or instrument duly attested but
except, where the transfer or assignment is in favour of the
insurer, shall not be operative as against an insurer and shall
not confer upon the transferee or assignee, or his legal
representative, any right to sue for the amount of such policy or
the moneys secured thereby until a notice in writing of the
transfer or assignment and either the said endorsement or
instrument itself or a copy thereof certified to be correct by both
transferor and transferee or their duly authorised agents have
been delivered to the insurer:
Provided that where the insurer maintains one or more places
of business in India, such notice shall be delivered only at the
place where the policy is being serviced.
6) The date on which the notice referred to in sub-section (5) is
delivered to the insurer shall regulate the priority of all claims
under a transfer or assignment as between persons interested
in the policy; and where there is more than one instrument of
transfer or assignment the priority of the claims under such
instruments shall be governed by the order in which the notices
referred to in sub-section (5) are delivered:
Provided that if any dispute as to priority of payment arises as
between assignees, the dispute shall be referred to the
Authority.
7) Upon the receipt of the notice referred to in sub-section (5), the
insurer shall record the fact of such transfer or assignment
together with the date thereof and the name of the transferee or
the assignee and shall, on the request of the person by whom
the notice was given, or of the transferee or assignee, on
payment of such fee as may be specified by the regulations,
grant a written acknowledgement of the receipt of such notice;
and any such acknowledgement shall be conclusive evidence
against the insurer that he has duly received the notice to which
Page 16 of 20
Plan No.- 933
~r_mH$Vm© Ho$ à{V Bg ~mV H$m n¸$m g~yV hmoJr {H$ Cgo dh Zmo{Q>g {d{YdV
àmá hmo J`m h¡ {Oggo dh nmdVr g§~§{YV h¡ &
8) hñVm§VaU `m g_ZwXoeZ Ho$ {Z`_ Ed§ eVm] Ho$ AYrZ, ~r_mH$Vm© Cn IÊS>
(5) _| C{„pIV Zmo{Q>g H$s àm{á H$s VmarI go, Cg Zmo{Q>g _| Zm{_V
hñVm§Var `m g_ZwXo{eVr H$mo nm°{bgr Ho$ A§VJ©V {hVbm^m| H$m nyU© hñVm§Var
`m g_ZwXo{eVr A{YH$mar H$s _mÝ`Vm XoJm Am¡a Cg ì`pŠV na do g_ñV
Xo`VmAm| Am¡a {Zdb am{e`m§ bmJy hm|Jr Omo hñVm§VaUH$Vm© `m g_ZwXoeH$ na,
hñVm§VaU `m g_ZwXoeZ H$s VmarI na bmJy hmoVr Wt Am¡a dh
hñVmV§aUH$Vm© `m g_ZXweoH$ H$s gh_{V {bE {~Zm `m Eg
o r H$mad©mB© _| Cgo
njH$ma ~ZmE {~Zm, nm{°bgr H$o g~§Y§ _| H$mBo© ^r H$mad©mB© àma^§ H$a gH$Vm h,¡
nm{°bgr H$o AV§JV© F$U bo gH$Vm h¡ `m nm{°bgr H$m Aä`nU© H$a gH$Vm h¡ &
ì`m»`m : `{X Cn IÊS> (1) _| C{„pIV n¥ð>m§H$Z _| ñnï> ê$n go `h Zht
H$hm J`m hmoJm {H$ g_ZwXoeZ `m hñVm§VaU `hm§ ZrMo Xr JB© Cn IÊS>
(10) Ho$ AZwgma geV© h¡, Vmo àË`oH$ hñVm§VaU `m g_ZwXoeZ H$mo nyU©
g_ZwXoeZ `m hñVm§VaU _mZm OmEJm Am¡a g_ZwXo{eVr `m hñVm§Var H$mo,
`WmpñW{V, H«$_e: nyU© g_ZwXo{eVr `m hñVm§Var _mZm OmEJm &
9) ~r_m H$mZyZ (g§emoYZ) A{Y{Z`_, 2015 Ho$ àma§^ go nyd©, {H$gr
g_ZwXoeZ AWdm hñVm§VaU Ho$ A§VJ©V OrdZ ~r_m nm°{bgr Ho$ {H$gr
g_ZwXo{eVr `m hñVm§Var Ho$ Mmby A{YH$mam| Am¡a à{VH$mam| na, Bg Ymam Ho$
àmdYmZm| H$m H$moB© à{V^yb à^md Zht n‹S>oJm &
such acknowledgment relates.
8) Subject to the terms and conditions of the transfer or
assignment, the insurer shall, from the date of the receipt of the
notice referred to in sub-section (5), recognize the transferee
or assignee named in the notice as the absolute transferee or
assignee entitled to benefit under the policy, and such person
shall be subject to all liabilities and equities to which the
transferor or assignor was subject at the date of the transfer or
assignment and may institute any proceedings in relation to the
policy, obtain a loan under the policy or surrender the policy
without obtaining the consent of the transferor or assignor or
making him a party to such proceedings.
Explanation – Except where the endorsement referred to in
sub-section (1) expressly indicates that the assignment or
transfer is conditional in terms of subsection (10) hereunder,
every assignment or transfer shall be deemed to be an
absolute assignment or transfer and the assignee or
transferee, as the case may be, shall be deemed to be the
absolute assignee or transferee respectively.
9) Any rights and remedies of an assignee or transferee of a policy
of life insurance under an assignment or transfer effected prior to
the commencement of the Insurance Laws (Amendment) Act,
2015 shall not be affected by the provisions of this Section.
10) {H$gr H$mZyZ Ho$ `m H$mZyZ H$s e{ŠV aIZo dmbr àWm Ho$ hmoVo hþE ^r, `{X
{H$gr ì`pŠV Ho$ nj _| g_ZwXoeZ Bg eV© na {H$`m OmVm h¡ {H$ :
10) Notwithstanding any law or custom having the force of law to
the contrary, an assignment in favour of a person made upon
the condition that-
H$) g_ZwXo{eVr `m hñVm§Var H$s _¥Ë`w ~r_mYmaH$ go nhbo hmoZo na,
nm°{bgr Ho$ A§VJ©V àm{á`m§ nm°{bgrYmaH$ H$mo `m Zm{_Vr ì`pŠV/
ì`pŠV`m| H$mo Xo` hmo OmE§Jr; AWdm
a. The proceeds under the policy shall become payable to the
policyholder or the nominee or nominees in the event of
either the assignee or transferee predeceasing the
insured; or
I) ~r_mYmaH$ Ho$ nm°{bgr Ad{Y VH$ Or{dV ahZo na, dh d¡Y hmoJm &
b. The insured surviving the term of the policy , shall be valid:
~eV} {H$ H$moB© geV© g_ZwXo{eVr nm°{bgr na H$moB© F$U boZo H$m `m nm°{bgr
H$mo Aä`{n©V H$aZo H$m A{YH$mar Zht hmoJm &
Provided that a conditional assignee shall not be entitled to
obtain a loan on the policy or surrender a policy.
11) Cn IÊS> (1) Ho$ A§VJ©V {H$gr nm°{bgr Ho$ Am§{eH$ g_ZwXoeZ `m
hñVm§VaU Ho$ _m_bo _|, ~r_mH$Vm© H$s Xo`Vm, Am§{eH$ g_ZwXoeZ `m
hñVm§VaU Ûmam àË`m^yV am{e VH$ gr{_V hmoJr Am¡a Eogo nm°{bgrYmaH$ H$mo,
Cgr nm°{bgr Ho$ A§VJ©V Xo` eof am{e H$mo AmJo g_ZwXo{eV `m A§V[aV H$aZo
H$m A{YH$ma Zht hmoJm &
11) In case of the partial assignment or transfer of a policy of
insurance under sub-section (1), the liability of the insurer shall
be limited to the amount secured by partial assignment or
transfer and such policyholder shall not be entitled to further
assign or transfer the residual amount payable under the same
policy.
n[a{eï> - 2
Annexure - 2
Zm_m§H$Z: ~r_m A{Y{Z`_, 1938 H$s Ymam 39 Ho$ AZwgma
Nomination - As per Section 39 of the Insurance Act 1938
1) AnZo hr OrdZ na OrdZ ~r_m nm°{bgr aIZo dmbm nm°{bgrYmaH$, nm°{bgr
boVo g_` AWdm nm°{bgr Ho$ ^wJVmZ Ho$ {bE n[an¹$ hmoZo Ho$ nyd© {H$gr ^r
g_` Eogo ì`pŠV/ì`pŠV`m| H$mo Zm_m§{H$V H$a gH$Vm h¡ {OZH$mo,
nm°{bgrYmaH$ H$s _¥Ë`w hmoZo H$s pñW{V _|, nm°{bgr Ho$ A§VJ©V àË`m^yV am{e
H$m ^wJVmZ {H$`m OmEJm &
1) The holder of a policy of life insurance on his own life may,
when effecting the policy or at any time before the policy
matures for payment, nominate the person or persons to whom
the money secured by the policy shall be paid in the event of his
death:
~eV} {H$ `{X Zm{_Vr Zm~m{bJ h¡ Vmo nm°{bgrYmaH$ Ho$ {bE `h H$mZyZgå_V
hmoJm {H$ dh ~r_mH$Vm© Ûmam ~ZmE JE VarHo$ go {H$gr ì`pŠV H$mo {Z`wŠV
H$ao Omo Zm{_Vr H$s Ad`ñH$Vm Ho$ Xm¡amZ nm°{bgrYmaH$ H$s _¥Ë`w hmo OmZo
na, nm°{bgr Ho$ A§VJ©V àË`m^yV am{e àmá H$a gHo$ &
2) `{X Zm_m§H$Z nm°{bgr Ho$ _yb nmR> _| hr g_m{dï> Zht h¡ Vmo Eogo {H$gr ^r
Zm_m§H$Z H$mo {H«$`merb ~ZmZo Ho$ {bE, nm°{bgr na Eogm n¥ð>m§H$Z H$aHo$,
~r_mYmaH$ H$mo CgH$s gyMZm XoH$a VWm nm°{bgr go g§~§{YV A{^boIm| _|
Cgo n§OrH¥$V H$amZm hmoJm Am¡a nm°{bgr Ho$ ^wJVmZ Ho$ {bE n[an¹$ hmoZo go
nyd© Eogo Zm_m§H$Z H$mo EH$ n¥ð>m§H$Z Ho$ Ûmam `m dgr`V Ho$ Ûmam {H$gr ^r
g_` {ZañV `m n[ad{V©V H$am`m Om gH$Vm h¡ & {H$ÝVw O~ VH$ Eogo
{ZañVrH$aU `m n[adV©Z H$s {bpIV gyMZm ~r_mH$Vm© H$mo Zht Xo Xr OmVr,
V~ VH$ ~r_mH$Vm© nm°{bgr Ho$ _yb nmR> _| C{„pIV `m ~r_mH$Vm© Ho$
A{^bI
o m| _| nO
§ rH$¥V Ama¡ ~r_mH$Vm© Ûmam nm{°bgr H$o AV§JV© gØmdZmndyH©$
~ZmE JE Zm{_Vr H$mo {H$E JE {H$gr ^r ^JwVmZ H$o {bE CÎmaXm`r Zht hmJom &
3) ~r_mH$Vm© nm°{bgrYmaH$ H$mo, Zm_m§H$Z Ho$ n§OrH$aU H$s `m CgHo$
{ZañVrH$aU H$s `m Cg_| n[adV©Z H$s {bpIV nmdVr XoJm Am¡a Eogo
{ZañVrH$aU `m n[adV©Z Ho$ {bE {d{Z`_m| _| {d{Z{X©ï> ewëH$ bo gHo$Jm &
4) Ymam 38 Ho$ AZwgma {H$E JE nm°{bgr Ho$ hñVm§VaU `m g_ZwXoeZ go
Zm_m§H$Z ñdV: {ZañV hmo OmEJm:
`{X nm°{bgr H$m g_ZwXoeZ {H$gr Eogo ~r_mH$Vm© H$mo {H$`m OmVm h¡, Omo
nm°{bgr Ho$ Aä`n©U _yë` Ho$ A§Xa AWdm F$U H$s AXm`Jr na nwZ:
g_ZwXoeZ H$s pñW{V _| nm°{bgr H$s à{V^y{V na {XE JE F$U Ho$ ~Xbo,
g_ZwXoeZ Ho$ g_` nm°{bgr Ho$ OmopI_ H$m dhZ H$aVm h¡ Vmo Cggo
LIC's Jeevan Lakshya
Provided that, where any nominee is a minor, it shall be lawful
for the policy holder to appoint any person in the manner laid
down by the insurer, to receive the money secured by policy in
the event of his death during the minority of the nominee.
2) Any such nomination in order to be effectual shall, unless it is
incorporated in the text of the policy itself, be made by an
endorsement on the policy communicated to the insurer and
registered by him in the records relating to the policy and any
such nomination may at any time before the policy matures for
payment be cancelled or changed by an endorsement or a
further endorsement or a will, as the case may be, but unless
notice in writing of any such cancellation or change has been
delivered to the insurer, the insurer shall not be liable for any
payment under the policy made bona fide by him to a nominee
mentioned in the text of the policy or registered in records of the
insurer.
3) The insurer shall furnish to the policy holder a written
acknowledgement of having registered a nomination or a
cancellation or change thereof, and may charge such fee as
may be specified by regulations for registering such
cancellation or change.
4) A transfer or assignment of a policy made in accordance with
Section 38 shall automatically cancel a nomination:
Provided that the assignment of a policy to the insurer who
bears the risk on the policy at the time of the assignment, in
consideration of a loan granted by that insurer on the security
of the policy within its surrender value, or its reassignment on
repayment of the loan shall not cancel a nomination, but shall
Page 17 of 20
Plan No.- 933
Zm_m§H$Z {ZañV Zht hmoJm, {H$ÝVw Cggo Zm{_Vr Ho$ A{YH$mam| na, nm°{bgr
_| ~r_mH$Vm© Ho$ {hVm| H$s gr_m VH$ hr {dnarV à^md n‹S>oJm &
`h ^r eV© h¡ {H$ `{X hñVm§Var `m g_ZwXo{eVr Ûmam nm°{bgrYmaH$ H$mo {XE
JE F$U Ho$ ~Xbo nm°{bgr Ho$ nyU© `m Am§{eH$ hñVm§VaU `m g_ZwXoeZ go
Zm_m§H$Z {ZañV Zht hmoJm ~pëH$ Zm{_Vr Ho$ {hVm| na Cgr gr_m VH$
Xþîà^md n‹S>oJm, Ohm§ VH$ `WmpñW{V, hñVm§Var `m g_ZwXo{eVr H$m {hV Cg
nm°{bgr _| h¡ &
Am¡a `h ^r eV© h¡ {H$ hñVm§VaU AWdm g_ZwXoeZ Ho$ \$bñdê$n Omo
Zm_m§H$Z ñdV: {ZañV hmo J`m h¡ Vmo g_ZwXo{eVr Ûmam nwZ: g_ZwXoeZ H$aZo
na `m nm°{bgr H$s à{V^y{V Ho$ Abmdm, {bE JE F$U H$s AXm`Jr H$a {XE
OmZo na, nm°{bgrYmaH$ Ho$ nj _| hñVm§Var Ûmam nwZ: hñVm§VaU {H$E OmZo
na, dh Zm_m§H$Z ñdV: hr nwZ: g{H«$` hmo OmEJm &
5) {Og ì`pŠV Ho$ OrdZ H$m ~r_m {H$`m J`m h¡, `{X CgHo$ OrdZH$mb _|
nm°{bgr ^wJVmZ Ho$ {bE n[an¹$ hmo OmVr h¡ AWdm Zm{_Vr (EH$ go A{YH$
Zm{_Vr hmoZo H$s pñW{V _| gmao Zm{_Vr) H$s _¥Ë`w nm°{bgr ^wJVmZ Ho$ {bE
n[an¹$ hmoZo go nyd© hmoZo na nm°{bgr Ho$ A§VJ©V àË`m^yV am{e H$m ^wJVmZ,
`WmpñW{V, nm°{bgrYmaH$ H$mo `m CgHo$ dm[agm| `m H$mZyZr à{V{Z{Y`m| H$mo
`m CÎmam{YH$ma à_mU-nÌ YmaH$ H$mo Xo` hmoJm &
6) Zm{_Vr ì`pŠV `m EH$ go A{YH$ Zm{_Vr hmoZo H$s pñW{V _|, Zm{_V
ì`pŠV`m| Ho$ ~r{_V ì`pŠV go A{YH$ Or{dV ahZo na, nm°{bgr Ho$ A§VJ©V
àË`m^yV am{e Eogo Or{dV ì`pŠV `m ì`pŠV`m| H$mo Xo` hmoJr &
7) Bg IÊS> Ho$ AÝ` àmdYmZm| Ho$ AYrZ, `{X H$moB© AnZo hr OrdZ na `m
nm°{bgr boZo dmbm nm°{bgrYmaH$ AnZo _mVm-{nVm H$mo, AnZr nËZr H$mo,
AnZo ~ƒm| H$mo, AnZo n{V:nËZr Am¡a ~ƒm| H$mo `m Bg_| go {H$gr H$mo Zm{_V
H$aVm h¡ Vmo Zm{_Vr Cn IÊS> (6) Ho$ A§VJ©V ~r_mYmaH$ Ûmam CgH$mo `m
CZH$mo Xo` am{e Ho$ {bE {hVbm^r A{YH$mar hm|Jo, O~ VH$ {H$ `h {gÕ Z
hmo OmE {H$ nm°{bgr _| AnZo A{YH$ma H$s àH¥${V H$mo Ü`mZ _| aIVo hþE,
nm°{bgrYmaH$ Zm{_V ì`pŠV H$mo Eogm A{YH$ma àXmZ Zht H$a gH$Vm Wm &
8) Cn`w©ŠV C„oI Ho$ AYrZ hr, {Og Zm{_Vr (EH$ go A{YH$ Zm{_Vr hmoZo na
Zm{_{V`m|) na Cn IÊS> (7) bmJy hmoVm h¡, CgH$s/CZH$s _¥Ë`w ~r{_V
ì`pŠV Ho$ ~mX, {H$ÝVw nm°{bgr Ho$ A§VJ©V àË`m^yV am{e Ho$ ^wJVmZ go nyd©
hmoZo H$s pñW{V _|, nm°{bgr Ho$ A§VJ©V àË`m^yV am{e `m Bg àH$ma _aZo
dmbo ì`pŠV `m ì`pŠV`m| (`WmpñW{V) Ho$ {hñgo H$s nm°{bgr Ûmam àË`m^yV
am{e H$m ^mJ, Zm{_Vr Ho$ dm[agm| H$mo `m H$mZyZr à{V{Z{Y`m| H$mo `m
`WmpñW{V CÎmam{YH$ma à_mU-nÌ YmaH$ H$mo Xo` hmoJm Am¡a do Cg am{e Ho$
{hVbm^ A{YH$mar hm|Jo &
9) OrdZ ~r_m nm°{bgr H$s àm{á`m| _| go boZXmam| Ho$ A{YH$mam| H$mo g_má H$aZo
Ho$ {bE `m CZ_| ~mYm Ho$ {bE Cn IÊS> (7) Am¡a (8) _| go Hw$N> ^r bmJw
Zht hmoJm &
10) Cn IÊS> (7) Am¡a (8) Ho$ àmdYmZ OrdZ ~r_m H$s CZ g^r nm°{b{g`m|
na bmJy hm|Jo Omo ~r_m H$mZyZ (g§emoYZ) A{Y{Z`_, 2015 Ho$ àma§^ hmoZo
Ho$ ~mX ^wJVmZ Ho$ {bE n[an¹$ hm|Jr &
affect the rights of the nominee only to the extent of the
insurer’s interest in the policy:
Provided further that the transfer or assignment of a policy,
whether wholly or in part, in consideration of a loan advanced
by the transferee or assignee to the policyholder, shall not
cancel the nomination but shall affect the rights of the nominee
only to the extent of the interest of the transferee or assignee,
as the case may be, in the policy:
Provided also that the nomination, which has been
automatically cancelled consequent upon the transfer or
assignment, the same nomination shall stand automatically
revived when the policy is reassigned by the assignee or
retransferred by the transferee in favour of the policyholder on
repayment of loan other than on a security of policy to the
insurer.
5) Where the policy matures for payment during the lifetime of the
person whose life is insured or where the nominee or, if there
are more nominees than one, all the nominees die before the
policy matures for payment, the amount secured by the policy
shall be payable to the policyholder or his heirs or legal
representatives or the holder of a succession certificate, as the
case may be.
6) Where the nominee or if there are more nominees than one, a
nominee or nominees survive the person whose life is insured,
the amount secured by the policy shall be payable to such
survivor or survivors.
7) Subject to the other provisions of this Section, where the holder
of a policy of insurance on his own life nominates his parents,
or his spouse, or his children, or his spouse and children, or any
of them, the nominee or nominees shall be beneficially entitled
to the amount payable by the insurer to him or them under subsection (6) unless it is proved that the holder of the policy,
having regard to the nature of his title to the policy, could not
have conferred any such beneficial title on the nominee.
8) Subject as aforesaid, where the nominee, or if there are more
nominees than one, a nominee or nominees, to whom subsection (7) applies, die after the person whose life is insured
but before the amount secured by the policy is paid, the amount
secured by the policy, or so much of the amount secured by the
policy as represents the share of the nominee or nominees so
dying (as the case may be), shall be payable to the heirs or
legal representatives of the nominee or nominees or the holder
of a succession certificate, as the case may be, and they shall
be beneficially entitled to such amount.
9) Nothing in sub-sections (7) and (8) shall operate to destroy or
impede the right of any creditor to be paid out of the proceeds of
any policy of life insurance.
10) The provisions of sub-sections (7) and (8) shall apply to all
policies of life insurance maturing for payment after the
commencement of the Insurance Laws (Amendment) Act,
2015.
11) `{X nm°{bgrYmaH$ H$s _¥Ë`w nm°{bgr H$s n[an¹$Vm Ho$ ~mX hmoVr h¡, {H$ÝVw
CgH$s _¥Ë`w Ho$ H$maU CgH$s nm°{bgr Ho$ {hVbm^m| H$m ^wJVmZ Cgo Zht
{H$`m Om gH$m h¡ Vmo CgHo$ Zm{_Vr CgH$s nm°{bgr H$s àm{á`m| Am¡a
{hVbm^m| Ho$ hH$Xma hm|Jo &
11) Where a policyholder dies after the maturity of the policy but
the proceeds and benefit of his policy has not been made to
him because of his death, in such a case, his nominee shall be
entitled to the proceeds and benefit of his policy.
12) Bg Ymam Ho$ àmdYmZ OrdZ ~r_m H$s {H$gr ^r Eogr nm°{bgr na bmJy Zht
hm|Jo, {Og na {ddm{hV _{hbm g§n{Îm A{Y{Z`_, 1874 H$s Ymam 6 bmJy
hmoVr h¡ `m {H$gr g_` bmJy ahr h¡ &
12) The provisions of this Section shall not apply to any policy of life
insurance to which Section 6 of the Married Women’s Property
Act, 1874, applies or has at any time applied;
~eV} {H$ `{X AnZo OrdZ H$m, AnZr nËZr H$m, AnZo ~ƒm| H$m `m BZ_| go
{H$gr H$m ^r ~r_m H$amZo dmbo ì`pŠV H$s nËZr Ho$ nj _| ~r_m H$mZyZ
(g§emoYZ) A{Y{Z`_, 2015 Ho$ àma§^ go nyd© `m ~mX _| {H$`m J`m
Zm_m§H$Z Bg Ymam Ho$ A§VJ©V {H$E JE Zm_m§H$Z Ho$ ê$n _| A{^ì`ŠV h¡
(Mmho dh nm°{bgr Ho$ \$bH$ na hmo `m Zht) Vmo _mZm OmEJm {H$ CŠV Ymam
6 nm°{bgr na bmJy Zht hmoVr Am¡a Z hr Cgo nm°{bgr na bmJy {H$`m J`m h¡&
Provided that where a nomination made whether before or
after the commencement of the Insurance Laws (Amendment)
Act, 2015, in favour of the wife of the person who has insured
his life or of his wife and children or any of them is expressed,
whether or not on the face of the policy, as being made under
this Section, the said Section 6 shall be deemed not to apply or
not to have applied to the policy.
Annexure - 3
n[a{eï> -3
~r_m A{Y{Z`_, 1938 Ho$ AZwgma Ymam 45
Section 45 as per the Insurance Act 1938
1) nm°{bgr H$s VmarI AWm©V² nm°{bgr Omar H$aZo H$s VmarI AWdm OmopI_
àma§^ hmoZo H$s VmarI AWdm nm°{bgr Ho$ nwZM©bZ H$s VmarI AWdm nm°{bgr
_| AZwd¥{Õ H$s VmarI (BZ_| Omo ^r ~mX _| hmo) Ho$ ~mX VrZ df© g_má hmo
OmZo na OrdZ ~r_m H$s {H$gr ^r nm°{bgr na {H$gr ^r AmYma na H$moB©
àý Zht {H$`m OmEJm &
1) No policy of life insurance shall be called in question on any
ground whatsoever after the expiry of three years from the date
of the policy, i.e. from the date of issuance of the policy or the
date of commencement of risk or the date of revival of the
policy or the date of the rider to the policy, whichever is later.
2) nm°{bgr Omar H$aZo H$s VmarI AWdm OmopI_ àma§^ hmoZo H$s VmarI AWdm
nm°{bgr Ho$ nwZM©bZ H$s VmarI AWdm nm°{bgr _| AZwd¥{Õ H$s VmarI
LIC's Jeevan Lakshya
2) A policy of life insurance may be called in question at any time
within three years from the date of issuance of the policy or the
Page 18 of 20
Plan No.- 933
(BZ_| go Omo ^r ~mX _| hmo) go VrZ dfm] Ho$ A§Xa OrdZ ~r_m nm°{bgr na
H$nQ> Ho$ AmYma na àý {H$`m Om gH$Vm h¡ :
~eV} {H$ ~r_mH$Vm© H$mo CZ g^r AmYmam| Am¡a gm_J«r H$s {bpIV gyMZm
~r_mYmaH$ H$mo, `m H$mZyZr à{V{Z{Y`m| H$mo, Zm{_{V`m| `m g_ZwXo{e{V`m| H$mo
XoZr hmoJr, {OZ na Eogm {ZU©` AmYm[aV h¡ &
date of commencement of risk or the date of revival of the
policy or the date of the rider to the policy, whichever is later on
the ground of fraud:
Provided that the insurer shall have to communicate in writing
to the insured or the legal representatives or nominees or
assignees of the insured the grounds and materials on which
such decision is based.
ì`m»`m - I : Bg Cn IÊS> Ho$ CÔoí` Ho$ {bE "'H$nQ>'' H$m AW©
~r_mYmaH$ `m CgHo$ A{^H$Vm© Ûmam {H$`m J`m H$moB© ^r Eogm {ZåZ{bpIV
H$m`© hmoJm Omo ~r_mH$Vm© H$mo R>JZo `m ~r_mH$Vm© H$mo OrdZ ~r_m nm°{bgr Omar
H$aZo hoVw à^m{dV H$aZo Ho$ {bE {H$`m J`m hmo:-
Explanation I- For the purposes of this sub-section, the
expression “fraud” means any of the following acts committed
by the insured or by his agent, with the intent to deceive the
insurer or to induce the insurer to issue a life insurance policy:-
H$) Eogo VÏ` H$m gwPmd Omo gË` Z hmo Am¡a {OgHo$ gË` hmoZo na
~r_mYmaH$ H$mo {dœmg Z hmo;
a) the suggestion, as a fact of that which is not true and which
the insured does not believe to be true;
I) {H$gr {dœmg `m VÏ` H$m kmZ hmoZo na ^r ~r_mYmaH$ Ûmam {H$gr
VÏ` H$mo g{H«$`Vm go Nw>nmZm;
b) the active concealment of a fact by the insured having
knowledge or belief of the fact;
J) YmoIm XoZo Ho$ {bE Cn`wŠV H$moB© AÝ` H$m`©;
K) AÝ` H$moB© Eogr Ìw{Q>, {Ogo H$mZyZ {deof ê$n go H$nQ>H$mar Kmo{fV
H$aVm hmo &
ì`m»`m - II : ~r_mH$Vm© Ûmam OmopI_ Ho$ _yë`m§H$Z H$mo à^m{dV H$aZo H$s
g§^mdZm dmbo VÏ`m| na _mÌ Mwn ahZm H$nQ> Zht h¡, O~ VH$ {H$ _m_bo H$s
n[apñW{V`m§ Eogr Z hm| {H$ `{X CZ na {dMma {H$`m OmE Vmo Mwn ahZm
~r_mYmaH$ H$m `m CgHo$ A{^H$Vm© H$m H$Îm©ì` h¡ `m O~ VH$ {H$ CgH$m Mwn
ahZm ñd`§ _| hr ~mobZo Ho$ g_mZ Z hmo &
3) Cn IÊS> (2) _| Mmho Hw$N> ^r C„oI {H$`m J`m hmo, `{X ~r_mYmaH$ `h
{gÕ H$a gH$Vm h¡ {H$ CgHo$ kmZ Am¡a {dœmg Ho$ AZwgma {_Ï`m H$WZ `m
_hËdnyU© VÏ` H$m Nw>nm`m OmZm ghr Wm AWdm VÏ` H$mo OmZ~yPH$a
BÀN>mnyd©H$ Zht Nw>nm`m J`m Wm AWdm _hËdnyU© VÏ` H$m Eogm {_Ï`m H$WZ
`m Nw>nmd ~r_mH$Vm© H$s OmZH$mar _| h¡, Vmo H$moB© ~r_mH$Vm© H$nQ> Ho$ AmYma
na OrdZ ~r_m nm°{bgr na {H$E JE Xmdo H$mo Im[aO Zht H$aoJm &
~eV} {H$ H$nQ> H$s pñW{V _|, `{X nm°{bgrYmaH$ Or{dV Zht h¡ Vmo Cgo
JbV gm{~V H$aZo H$s {Oå_oXmar bm^m{W©`m| na hmoJr &
ì`m»`m: Omo ì`pŠV ~r_m H$ama H$m AmJ«h Ed§ _mob-Vmob H$aVm h¡, Cgo
H$ama H$mo ~ZmZo Ho$ CÔoí` Ho$ {bE ~r_mH$Vm© H$m A{^H$Vm© g_Pm OmEJm &
4) nm°{bgr Omar hmoZo H$s VmarI go `m OmopI_ àma§^ hmoZo H$s VmarI go `m
nm°{bgr Ho$ nwZM©bZ H$s VmarI go `m nm°{bgr _| AZwd¥{Õ Omo‹S>Zo H$s VmarI
go (BZ_| Omo ^r ~mX _| hmo) VrZ df© Ho$ A§Xa ~r_m nm°{bgr na Bg AmYma
na àý {H$`m Om gH$Vm h¡ {H$ àñVmd nÌ _| `m AÝ` {H$gr XñVmdoO _|,
{OgHo$ AmYma na nm°{bgr Omar H$s JB© Wr `m nwZM©{bV H$s JB© Wr `m
AZwd¥{Õ Omar H$s JB© Wr, ~r{_V ì`pŠV H$m àË`m{eV Am`w go g§~§{YV H$moB©
H$WZ AWdm {H$gr _hËdnyU© VÏ` H$mo JbV VarHo$ go Nw>nm`m J`m Wm &
~eV} {H$ ~r_mH$Vm© H$mo ~r{_V ì`pŠV `m H$mZyZr à{V{Z{Y`m| `m Zm{_{V`m|
`m g_ZwXo{e{V`m| H$mo CZ AmYmam| Am¡a gm_J«r H$s {bpIV gyMZm XoZr hmoJr,
{OZ na OrdZ ~r_m nm°{bgr H$mo aÔ H$aZo H$m {ZU©` AmYm[aV h¡ &
`h ^r eV© h¡ {H$ `{X nm°{bgr H$mo {_Ï`m H$WZ `m _hËdnyU© VÏ` Ho$
Nw>nmZo Ho$ AmYma na (Am¡a H$nQ> Ho$ AmYma na Zht) aÔ {H$`m OmVm h¡ Vmo
nm°{bgr na aÔ H$aZo H$s VmarI VH$ g§J«h H$s JB© àr{_`_, Eogo aÔrH$aU
H$s VmarI go 90 {XZm| H$s Ad{Y _| ~r_mYmaH$ H$mo `m ~r_mYmaH$ Ho$
H$mZyZr à{V{Z{Y`m| H$mo `m Zm{_{V`m| H$mo `m g_ZwXo{e{V`m| H$mo AXm H$a Xr
OmEJr &
ì`m»`m: Bg Cn Ymam Ho$ CÔoí` Ho$ {bE, {_Ï`m H$WZ H$mo `m VÏ` Nw>nmZo
H$mo V~ VH$ _hËdnyU© Zht g_Pm OmEJm O~ VH$ {H$ ~r_mH$Vm© Ûmam
ñdrH$ma {H$E OmopI_ na CgH$m grYm à^md Z hmo & `h {gÕ H$aZo H$s
{Oå_oXmar ~r_mH$Vm© H$s hmoJr {H$ `{X ~r_mH$Vm© H$mo CŠV VÏ` H$s OmZH$mar
hmoVr Vmo ~r_mYmaH$ H$mo OrdZ ~r_m nm°{bgr Omar Zht H$s OmVr &
5) `{X ~r_mH$Vm© Eogm H$aZo Ho$ A{YH$mar h¢ Vmo Bg Ymam H$m H$moB© àmdYmZ
~r_mYmaH$ Ho$ {H$gr ^r g_` Am`w H$m à_mU _m§JZo go ~r_mH$Vm© H$mo amoH$
Zht gH$Vm Am¡a {H$gr ^r nm°{bgr H$mo Ho$db Bg{bE àíZ{MpÝhV Zht _mZm
OmEJm {H$ ~r_mYmaH$ H$s Am`w àñVmd nÌ _| JbV ~VmZo H$m à_mU ~mX _|
{_bZo na, nm°{bgr H$s eVm] _| g_m`moOZ {H$`m J`m h¡ &
LIC's Jeevan Lakshya
c) any other act fitted to deceive; and
d) any such act or omission as the law specially declares to be
fraudulent.
Explanation II- Mere silence as to facts likely to affect the
assessment of the risk by the insurer is not fraud, unless the
circumstances of the case are such that regard being had to
them, it is the duty of the insured or his agent, keeping silence
to speak, or unless his silence is, in itself, equivalent to speak.
3) Notwithstanding anything contained in subsection (2), no
insurer shall repudiate a life insurance policy on the ground of
fraud if the insured can prove that the misstatement of or
suppression of a material fact was true to the best of his
knowledge and belief or that there was no deliberate intention
to suppress the fact or that such misstatement of or
suppression of a material fact are within the knowledge of the
insurer:
Provided that in case of fraud, the onus of disproving lies upon
the beneficiaries, in case the policyholder is not alive.
Explanation – A person who solicits and negotiates a contract
of insurance shall be deemed for the purpose of the formation
of the contract, to be the agent of the insurer.
4) A policy of life insurance may be called in question at any time
within three years from the date of issuance of the policy or the
date of commencement of risk or the date of revival of the
policy or the date of the rider to the policy, whichever is later, on
the ground that any statement of or suppression of a fact
material to the expectancy of the life of the insured was
incorrectly made in the proposal or other document on the
basis of which the policy was issued or revived or rider issued:
Provided that the insurer shall have to communicate in writing
to the insured or the legal representatives or nominees or
assignees of the insured, the grounds and materials on which
such decision to repudiate the policy of life insurance is based:
Provided further that in case of repudiation of the policy on the
ground of misstatement or suppression of a material fact and
not on the ground of fraud, the premiums collected on the
policy till the date of repudiation shall be paid to the insured or
the legal representatives or nominees or assignees of the
insured within a period of ninety days from the date of such
repudiation.
Explanation - For the purposes of this sub-section, the
misstatement of or suppression of fact shall not be considered
material unless it has a direct bearing on the risk undertaken by
the insurer, the onus is on the insurer to show that had the
insurer been aware of the said fact, no life insurance policy
would have been issued to the insured.
5) Nothing in this Section shall prevent the insurer from calling for
proof of age at any time if he is entitled to do so and no policy
shall be deemed to be called in question merely because the
terms of the policy are adjusted on subsequent proof that the
age of the life insured was incorrectly stated in the proposal.
Page 19 of 20
Plan No.- 933
n[a{eï>-4 / Annexure - 4
Hw$b ^wJVmZ H$s JB© àr{_`_m| na bmJy Jma§Q>rH¥$V Aä`n©U _yë` KQ>H$
Guaranteed Surrender Value factors applicable to total premiums paid
nm°{bgr df©
Policy Year
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
nm°{bgr Ad{Y / Policy Term "
13
0.00%
30.00%
35.00%
50.00%
50.00%
50.00%
50.00%
56.00%
62.00%
68.00%
74.00%
90.00%
90.00%
14
0.00%
30.00%
35.00%
50.00%
50.00%
50.00%
50.00%
55.00%
60.00%
65.00%
70.00%
75.00%
90.00%
90.00%
15
0.00%
30.00%
35.00%
50.00%
50.00%
50.00%
50.00%
54.29%
58.57%
62.86%
67.14%
71.43%
75.71%
90.00%
90.00%
16
0.00%
30.00%
35.00%
50.00%
50.00%
50.00%
50.00%
53.75%
57.50%
61.25%
65.00%
68.75%
72.50%
76.25%
90.00%
90.00%
17
0.00%
30.00%
35.00%
50.00%
50.00%
50.00%
50.00%
53.33%
56.67%
60.00%
63.33%
66.67%
70.00%
73.33%
76.67%
90.00%
90.00%
18
0.00%
30.00%
35.00%
50.00%
50.00%
50.00%
50.00%
53.00%
56.00%
59.00%
62.00%
65.00%
68.00%
71.00%
74.00%
77.00%
90.00%
90.00%
19
0.00%
30.00%
35.00%
50.00%
50.00%
50.00%
50.00%
52.73%
55.45%
58.18%
60.91%
63.64%
66.36%
69.09%
71.82%
74.55%
77.27%
90.00%
90.00%
20
0.00%
30.00%
35.00%
50.00%
50.00%
50.00%
50.00%
52.50%
55.00%
57.50%
60.00%
62.50%
65.00%
67.50%
70.00%
72.50%
75.00%
77.50%
90.00%
90.00%
21
0.00%
30.00%
35.00%
50.00%
50.00%
50.00%
50.00%
52.31%
54.62%
56.92%
59.23%
61.54%
63.85%
66.15%
68.46%
70.77%
73.08%
75.38%
77.69%
90.00%
90.00%
22
0.00%
30.00%
35.00%
50.00%
50.00%
50.00%
50.00%
52.14%
54.29%
56.43%
58.57%
60.71%
62.86%
65.00%
67.14%
69.29%
71.43%
73.57%
75.71%
77.86%
90.00%
90.00%
23
0.00%
30.00%
35.00%
50.00%
50.00%
50.00%
50.00%
52.00%
54.00%
56.00%
58.00%
60.00%
62.00%
64.00%
66.00%
68.00%
70.00%
72.00%
74.00%
76.00%
78.00%
90.00%
90.00%
24
0.00%
30.00%
35.00%
50.00%
50.00%
50.00%
50.00%
51.88%
53.75%
55.63%
57.50%
59.38%
61.25%
63.13%
65.00%
66.88%
68.75%
70.63%
72.50%
74.38%
76.25%
78.13%
90.00%
90.00%
25
0.00%
30.00%
35.00%
50.00%
50.00%
50.00%
50.00%
51.76%
53.53%
55.29%
57.06%
58.82%
60.59%
62.35%
64.12%
65.88%
67.65%
69.41%
71.18%
72.94%
74.71%
76.47%
78.24%
90.00%
90.00%
19
0.00%
0.00%
16.58%
17.03%
17.58%
17.58%
17.66%
17.85%
18.16%
18.60%
19.18%
19.93%
20.85%
21.99%
23.38%
25.05%
27.06%
30.00%
35.00%
20
0.00%
0.00%
16.22%
16.58%
17.03%
17.58%
17.58%
17.66%
17.85%
18.16%
18.60%
19.18%
19.93%
20.85%
21.99%
23.38%
25.05%
27.06%
30.00%
35.00%
21
0.00%
0.00%
15.93%
16.22%
16.58%
17.03%
17.58%
17.58%
17.66%
17.85%
18.16%
18.60%
19.18%
19.93%
20.85%
21.99%
23.38%
25.05%
27.06%
30.00%
35.00%
22
0.00%
0.00%
15.72%
15.93%
16.22%
16.58%
17.03%
17.58%
17.58%
17.66%
17.85%
18.16%
18.60%
19.18%
19.93%
20.85%
21.99%
23.38%
25.05%
27.06%
30.00%
35.00%
23
0.00%
0.00%
15.55%
15.72%
15.93%
16.22%
16.58%
17.03%
17.58%
17.58%
17.66%
17.85%
18.16%
18.60%
19.18%
19.93%
20.85%
21.99%
23.38%
25.05%
27.06%
30.00%
35.00%
24
0.00%
0.00%
15.42%
15.55%
15.72%
15.93%
16.22%
16.58%
17.03%
17.58%
17.58%
17.66%
17.85%
18.16%
18.60%
19.18%
19.93%
20.85%
21.99%
23.38%
25.05%
27.06%
30.00%
35.00%
25
0.00%
0.00%
15.28%
15.42%
15.55%
15.72%
15.93%
16.22%
16.58%
17.03%
17.58%
17.58%
17.66%
17.85%
18.16%
18.60%
19.18%
19.93%
20.85%
21.99%
23.38%
25.05%
27.06%
30.00%
35.00%
n[a{eï>-5 / Annexure - 5
Jma§Q>rH¥$V Aä`n©U _yë` H$maH$ {Z{hV ~moZg Ho$ {bE bmJy
Guaranteed Surrender Value factors applicable to vested bonus
nm°{bgr df©
Policy Year
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
nm°{bgr Ad{Y / Policy Term "
13
0.00%
0.00%
18.16%
18.60%
19.18%
19.93%
20.85%
21.99%
23.38%
25.05%
27.06%
30.00%
35.00%
14
0.00%
0.00%
17.85%
18.16%
18.60%
19.18%
19.93%
20.85%
21.99%
23.38%
25.05%
27.06%
30.00%
35.00%
LIC's Jeevan Lakshya
15
0.00%
0.00%
17.66%
17.85%
18.16%
18.60%
19.18%
19.93%
20.85%
21.99%
23.38%
25.05%
27.06%
30.00%
35.00%
16
0.00%
0.00%
17.58%
17.66%
17.85%
18.16%
18.60%
19.18%
19.93%
20.85%
21.99%
23.38%
25.05%
27.06%
30.00%
35.00%
17
0.00%
0.00%
17.58%
17.58%
17.66%
17.85%
18.16%
18.60%
19.18%
19.93%
20.85%
21.99%
23.38%
25.05%
27.06%
30.00%
35.00%
18
0.00%
0.00%
17.03%
17.58%
17.58%
17.66%
17.85%
18.16%
18.60%
19.18%
19.93%
20.85%
21.99%
23.38%
25.05%
27.06%
30.00%
35.00%
Page 20 of 20
Plan No.- 933