ROOPS

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ENG (Fashion Technology)

Fashion designing deals in clothing is regarded as one of the basic necessities of life. In the
beginning we clothed ourselves for safety from the natural elements, but as the time went by, new
objectives were incorporated in this basic activity of humans.
The concept of fashion now goes well beyond mere clothing. But in today’s world, fashion designing
has evolved as a full- fledged industry. The profession is connected with creating innovative and
inspiring garments that enhance the body, personality and character of individuals. To be successful
in this field, one should possess a sharp sense for line, shape, texture, color, drape and fabrics.
Along with fashion consciousness and creativity, one also needs to have excellent communication
skills to express ideas and listen to the client’s requirements. Knowledge of the market trend is also
necessary.
Fashion designing can be divided into three main branches — Garment design, Leather design,
Accessory & Jewellery design. There is a tremendous growth for talented professionals
INTRODUCTION
Clothing is regarded as one of the basic necessities of life. In the beginning we clothed ourselves for safety
from the natural elements, but as the times passed by, new objectives were incorporated. The concept of
fashion now goes well beyond mere clothing. Today, fashion designing has evolved as a full- fledged industry.
The profession is concerned with creating innovative and inspiring garments that enhance the body,
personality and character of individuals. One needs to have a passion for line, shape, texture, color, drape
and fabric for this field. Fashion Designing can be divided into three main branches — Garment design,
Leather design, Accessory & Jewellery design. There is a tremendous growth for talented professionals in
this creative field.
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Eligibility
While the academic requirements are not very high for this profession but one needs need considerable
aptitude and talent for getting success in this field. You must be creative enough to combine colors, shades
and textures. Generally, the aspirant should have 10+2 (Arts, Commerce, Science)
/P.U.C./Polytechnic/equivalent with 45% marks in aggregate (40% is sufficient for SC/ST candidates).
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Skills & attributes

Along with fashion consciousness and creativity, you also need excellent communication skills to express
your ideas and listen to the client’s requirements. Knowledge of the market trend is also necessary.
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Job Prospects
The primary areas of work in the fashion industry are:
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Designing
This is the most important area of work in the fashion industry. This involves designing garments for
different age groups and according to specific requirements (for instance, costumes for television, film etc).
Designers are involved in:
• Research
• Designing according to needs of the clientele (functionality, budget and choice of textile are the
• key considerations here)
• Patterning
• Presentation to clients
The designer begins the designing process only after thorough market research, i.e., understanding the
needs of the client/market in terms of functionality, budget etc. Single designer or a team could undertake
the designing process.
On completion of the designing, a presentation is made to the client and the production department.
Changes if any,are incorporated at this stage. The final design is created and passed on to the production
department. This master design becomes the basis for production in the manufacturing department/unit.
Market Research
The global fashion market is extremely dynamic; hence, the need to constantly keep a tab on changing
trends. Market research is crucial to manufacturing units, retail businesses and export houses. Pricing
and product requirements are directly dependent on market research statistics.
Market research is conducted by researchers with at least 5-10 years experience in the fashion industry
or by designers themselves. Manufacturing
Manufacturing is an important area of work in the fashion industry. It includes:
• Purchase of textiles and fabrics

• Training
• Scheduling
• Pattern making
• Finishing
• Quality control
The production process begins with the receipt of design from the designer/s. The required textiles are
then purchased and the production process begins. The master pattern is created according to the design
prescribed. The master pattern is then reproduced in a variety of sizes. With the help of the trained
personnel (such as tailors, assemblers, embroidery experts etc), the garment is created. So let's hope I will
keep the promise.
Wherever machinery is used in the production process, machine operators are employed. Quality control is
also an important focus area especially if garments are being produced for the export market. Packaging is
also a part of the manufacturing process.
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Remuneration
Thanks to the increased expansion of fashion industry coupled with globalization, the status of fashion
designers has becomes very lucrative. Depending on your qualification and experience, one can expect to
be paid well in this hot career option. As a trainee, one can start with a salary of Rs.1000-Rs.15000. One
can command a higher salary as the experiences raises.
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MKTG (PROMOTION)
Another one of the 4P's is 'promotion'. This includes all of the tools available to the
marketer for 'marketing communication'. As with Neil H.Borden's marketing mix,
marketing communications has its own 'promotions mix.' Think of it like a cake mix, the
basic ingredients are always the same. However if you vary the amounts of one of the
ingredients, the final outcome is different. It is the same with promotions. You can
'integrate' different aspects of the promotions mix to deliver a unique campaign. The
elements of the promotions mix are:
Personal Selling.
Sales Promotion
Public Relations.
Direct Mail.
Trade Fairs and Exhibitions.
Advertising.
Sponsorship.
The elements of the promotions mix are integrated to form a coherent campaign. As with
all forms of communication. The message from the marketer follows the
'communications process' as illustrated above. For example, a radio advert is made for a
car manufacturer. The car manufacturer (sender) pays for a specific advert with contains a
message specific to a target audience (encoding). It is transmitted during a set of
commercials from a radio station (Message / media).
The message is decoded by a car radio (decoding) and the target consumer interprets the
message (receiver). He or she might visit a dealership or seek further information from a
web site (Response). The consumer might buy a car or express an interest or dislike
(feedback). This information will inform future elements of an integrated promotional
campaign. Perhaps a direct mail campaign would push the consumer to the point of
purchase. Noise represent the thousand of marketing communications that a consumer is
exposed to everyday, all competing for attention.
The Promotions Mix
.Let us look at the individual components of the promotions mix in more detail.
Remember all of the elements are 'integrated' to form a specific communications
campaign.
1.Personal Selling
Personal Selling is an effective way to manage personal customer relationships.
The sales persons acts on behalf of the organization. They tend to be well trained in the
approaches and techniques of personal selling. However sales people are very expensive
and should only be used where there is a genuine return on investment. For example
salesmen are often used to sell cars or home improvements where the margin is high.
2. Sales Promotion.
Sales promotion tend to be thought of as being all promotions apart from
advertising, personal selling, and public relations. For example the BOGOF promotion,
or Buy One Get One Free. Others include couponing, money-off promotions,
competitions, free accessories (such as free blades with a new razor), introductory offers
(such as buy digital TV and get free installation), and so on. Each sales promotion should
be carefully costed and compared with the next best alternative.
3.Public Relations (PR).
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Public Relations is defined as 'the deliberate, planned and sustained effort to

establish and maintain mutual understanding between an organization and its publics'
(Institute of Public Relations). It is relatively cheap, but certainly not cheap. Successful
strategies tend to be long-term and plan for all eventualities. All airlines exploit PR; just
watch what happens when there is a disaster. The pre-planned PR machine clicks in very
quickly with a very effective rehearsed plan.
4. Direct Mail.
Direct mail is very highly focussed upon targeting consumers based upon a
database. As with all marketing, the potential consumer is 'defined' based upon a series of
attributes and similarities. Creative agencies work with marketers to design a highly
focussed communication in the form of a mailing. The mail is sent out to the potential
consumers and responses are carefully monitored. For example, if you are marketing
medical text books, you would use a database of doctors' surgeries as the basis of your
mail shot.
5. Trade Fairs and Exhibitions.
Such approaches are very good for making new contacts and renewing
old ones. Companies will seldom sell much at such events. The purpose is to increase
awareness and to encourage trial. They offer the opportunity for companies to meet with
both the trade and the consumer. Expo has recently finish in Germany with the next one
planned for Japan in 2005, despite a recent decline in interest in such events.
6. Advertising.
Advertising is a 'paid for' communication. It is used to develop attitudes,
create awareness, and transmit information in order to gain a response from the target
market. There are many advertising 'media' such as newspapers (local, national, free,
trade), magazines and journals, television (local, national, terrestrial, satellite) cinema,
outdoor advertising (such as posters, bus sides).
7. Sponsorship.
Sponsorship is where an organization pays to be associated with a particular
event, cause or image. Companies will sponsor sports events such as the Olympics or
Formula One. The attributes of the event are then associated with the sponsoring
organization.
Companies usually spend for short-term and long-term marketing plans. This can boost their
products’ sales and company profits. However, as much as we all want to look at the bright side,
sometimes promotion strategies don’t work because the people behind the strategy were not able
to think of the demographics or their target audience. So the strategy does not work and it makes
company money down the drain. So the people behind the advertising projects will have a noose
around their necks figuratively. That is why they are very careful and very thorough when it comes
to planning their marketing strategies.
However, owners of the company do not usually allow that and ask for marketing program
proposals before going all the way with one for that time. And it usually is always one advertising
campaign at a time. And then they equate the profits that they get after a couple of months,
depending on the forecasted report included in the program proposal.
Of course, the reason for good promotion strategies is to make your product known and beat the
competition. Beating the competition makes it a whole lot more exciting
ORGANISATINAL BEH (PROMOTION STRATEGIES)

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The marketing promotion mix is the use of the 4 P's. These are Product, Price, Place, and
Promotion. This system first appeared in 1949 and was developed by Philip Kotler. This is a tried
and true system that is the basis for many companies successful marketing campaigns.
PRODUCT This includes the physical product or service that your company is offering to the
consumer. You are in complete control of the product since it is what you are selling.
PRICE This second part of the marketing promotion mix is how much you are selling your product
or service for. This can include the total cost of ownership as well. Included in price is installation
(if needed), continued support, warranty, and anything else that is needed to support your product
or service.
PLACE This is where you can purchase your product or service. In the marketing mix, this is
commonly called the distribution channel. This is the physical or online store where you are
selling your product or service to the consumer.
PROMOTION Promotion covers all of the different ways you choose to communicate your
business to the consumers. TV, radio, internet ads, coupons, etc.. Any physical or online way of
showing your business to a customer will fall under promotion.
The main force of the marketing promotion mix is optimizing these 4 P's and utilizing them in your
business to maximum effect. As you get familiar with what is expected from your product or
service, you can tailor the marketing mix to serve your interests better. Changing price, adding
sales locations, increasing or changing ads can all help you increase overall consumer response
to your product or service.
These 4 P's should all be geared directly at your target market of consumers and should all be
directly related to each other. If you are targeting lower-class consumers, you want to keep a low
price point and make sure to advertise on sites that a low-class consumer would visit. Odds are
that if you are targeting low-class, it would be an extreme waste of resources and money
advertising on sites that cater to upper-class. Golf sites, expensive product areas, and fine dining
areas would be very costly to advertise with and you would not get much feedback.
ECO
1.WHOLE LIFE PLAN
Suitability (WHOLE LIFE WITH PROFIT)
• People who wish to provide for their dependants huge sums at comparatively
low contribution as premium can take this policy. Under this plan an
individual gets life coverage for almost whole of his life.
Salient Features
• Sum assured is payable only on the death of the life assured

• Premiums have to be paid for 35 years or till age 80 years whichever is more
• Premiums cease on death of the life assured
Benefits
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On Death
• Sum assured + vested bonuses are payable to nominees/beneficiaries on

death of life assured only.
Other Conditions
• Minimum sum assured : Rs 20000

• Minimum premium must be Rs.800 per annum
• Minimum age at entry : 18 years
• Maximum age at entry : 60 years
WHOLE LIFE LIMITED PLAN

Suitability (LIMITED PAYMENT WHOLE LIFE)
• Individuals who wish to provide for their dependants, insured sums at a low
cost contributed during the income-earning period can have this policy.
Premium payment period can be adjusted to the income-earning period.
Salient Features
• Sum assured is payable only on the death of the life assured

• The life assured can select premium paying terms between 5 and 55 years,
according to his convenience
• Premiums cease on death of the life assured
• Bonus is available even after payment of premium ceases
Benefits
On Death
• Sum assured + vested bonuses are payable to nominees/beneficiaries on

death of life assured only.
Other Conditions
• Minimum sum assured :

o With Profit : Rs 20000
o Without Profit: Rs 50000
• Premium ceasing age : 70 years

SINGLE PREMIUM WHOLE LIFE
Suitability
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• Being a limited-payment life assurance policy, this plan is suitable for people
of all ages and social groups who wish to protect their families from a
financial setback that may occur owing to their demise.
Salient Features
• This is the best form of life assurance for family provision since it enables the
Life Assured to pay the premium during the ordinarily vigorous and most
productive years of life, relieving him from the necessity of making payments
later in life when they might become a burden
• With Profits Single Premium policies do not cease to participate in profits
after completion of the period for which premium has been paid ,but
continue to share in the periodical Bonus Distribution until the death of the
Life Assured
Benefits
Death Benefits
• Premiums are payable one time only. If the Life Assured survives the
stipulated term of the policy , the Policy continues in full force, and full sum
assured (with or without bonus) will be paid on death
Other Conditions

• Maximum age at maturity : 40 or 80 years from date of commencement
• Minimum Sum Assured : Rs.30,000
• Maximum Sum Assured : No Limit
• Mode of Payment : Single Premium

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applicable will be as fixed by the Corporation from time to time.
ELIGIBILITY CONDITIONS FOR THIS PLAN:

Ages at entry: 0 to 60 years nearest birthday
Accumulation periods available: 10, 15 and 20 years
Maximum age at which premium payment ceases: 70 years nearest birthday
Age up to which life cover available: 100 years
Minimum age at end of Accumulation Period: 18 years last birthday
Premium paying terms: Single Premium and, in case of regular premiums, equal to
the accumulation period, i.e. 10, 15 and 20 years
Modes of premium payment: Yearly, Half Yearly, Quarterly, Monthly, SSS and Single
Premium
Sum Assured: Rs.1 lakh and over in multiples of Rs.5,000/-.
ELIGIBILITY CONDITIONS FOR ACCIDENT BENEFIT RIDER (Allowed under

Regular Premium policies only):
Ages at entry:18 to 60 years nearest birthday
Maximum age at which premium payment ceases: 70 years nearest birthday
Age up to which life cover available: 70 years
Minimum age at end of Accumulation Period: 18 years last birthday
Premium paying terms: Equal to the accumulation period, i.e. 10, 15 and 20 years
Modes of premium payment: Yearly, Half Yearly, Quarterly, Monthly, SSS and Single
Premium
Sum Assured: Rs.25,000 to Rs.50 lakh, considering all Accident Benefit Sums
Assured under individual and group policies and Accident Benefit Rider Sum
Assured under new proposals into consideration. The Sum Assured can be in
multiples of Rs.5,000/-.
Availability of Rider: During the chosen Accumulation Period.
REBATES/EXTRA FOR MODE OF PREMIUM PAYMENT AND HIGH SUM

ASSURED:
• Mode Rebate:
Yearly mode: 2% of tabular Premium
Half-yearly mode: 1% of the tabular premium
Quarterly: NIL
In case of monthly mode other than SSS, an additional amount of 5% of tabular
premium will be charged.
• High Sum Assured Rebates:

For Annual premium
Rs.1.25%o Sum Assured for Sum Assured Rs 2 lakh and over;
Rs. 2.25%o Sum Assured for Sum Assured Rs 5 lakh and over.
For Single premium
Rs.7.50%o Sum Assured for Sum Assured Rs 2 lakh and over;
Rs.12.50%o Sum Assured for Sum Assured Rs 5 lakh and over.
EXCLUSIONS:
This policy shall be void if the Life Assured commits suicide (whether sane or
insane at the time) at any time on or after the date on which the risk under the
policy has commenced but before the expiry of one year from the date of
commencement of risk under the policy and the Corporation will not entertain any
claim by virtue of this Policy except to the extent of a third party's bonafide
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2. TERM ASSURANCE PLANS

ANMOL JEEVAN I
Suitability
• This is a pure risk policy suitable for people who wish to provide huge sums
for their family at an economical premium. All males and females with
earned income (Category I) and females with unearned income and paying
tax (Category II) are eligible for this plan.
Salient Features
• The policy being a pure term plan, the sum assured is payable on the death
of the policyholder during the term of the policy
• On survival to maturity nothing is payable
• The policy will not acquire any paid-up value
• No Surrender Value will be available under this plan
• No loan will be granted under this plan
• Policyholder has an option to pay premium Yearly, Half-yearly, Quarterly or
Single Premium
• A grace period of 15 days will be allowed for payment of yearly, half-yearly or
quarterly premiums
• If death occurs within the grace period and before the payment of the
premium then due, the policy will still be valid and the Sum Assured paid
after deduction of the said premium as also unpaid premiums falling due
before the next policy anniversary of the Policy. If the premium is not paid
before the expiry of the days of grace, the Policy lapses.
Benefits
On Death
• Full sum assured + loyalty additions
On Survival
• Nothing is payable
Other Conditions

• Maximum age at maturity : 60 years
• Policy Term : 5 to 25 years
• Minimum Sum Assured : Rs.5,00,000
• Maximum Sum Assured : Rs.3,00,00,000
TEMPORARY TERM ASSURANCE

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Suitability
• The Two Year Temporary Assurance policy caters to the individuals who
specifically require insurance cover against risk for a short period of two
years, for instance persons who are required to go on tours for instance for a
year or so.
Salient Features
• The Two Year Temporary Assurance policy is designed for the insuring public
who requires risk cover for a maximum of two years
• Under the Two Year Temporary Assurance policy a single premium is required
to be paid at the outset of the policy to cover the entire period of term
• The proposer is required to pay the medical examination fee. The proof of
age must also accompany the proposal
• The policy issued will be only under the 'Without Profits' plan
• The policy is not entitled to any surrender value
• No loan will be granted against the Two Year Temporary Assurance policy
Benefits
Death Benefits
• Total Sum Assured
Survival Benefits
• Not Applicable
Other Conditions

• Maximum Sum Assured : Rs.1,00,00,000
• Policy Term : 6, 12, 18, 24 months
• Mode of Payment : Single Premium

AMULYA JEEVAN
Benefits
On Death during the Term of the Policy : Sum Assured

On Maturity : Nil
RESTRICTIVE CONDITIONS
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Minimum age at entry
:18 years (completed)
Maximum age at entry

:60 years (nearest birthday)
Maximum age at maturity

:70 years (nearest birthday)
Minimum Policy Term

:5 years
Maximum Policy term

:35 years
Minimum Sum Assured

:Rs.25,00,000/-
Maximum Sum Assured

:No Upper Limit
(Policies will be issued in

multiples of Rs.100,000/- for
Sums Assured
more than the minimum Sum
Assured)
Mode of premium payment

:Yearly, Half-yearly & Single
Premium
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REBATES
• Mode Rebate
There is no mode rebate for yearly mode of premium payment under this
plan. In case of half-yearly mode, there is an additional premium of 2% of
the tabular annual premium.
• Large Sum Assured Rebates
A rebate of Rs.0.25 %o Sum Assured will be allowed under Single Premium

policies with Sums Assured of Rs. One Crore and above. There will be no
rebate for large Sum Assured in case of Regular Premium.
• Rebate for Corporation Employees
Policies issued to Corporation Employees on their own lives under this plan
will be eligible for a reduction @ 10% of the Tabular premium for Half-yearly
and yearly mode. In case of a single premium policy this rebate will be 2%
of the tabular premium.
UNDERWRITING, AGE PROOF AND MEDICAL REQUIREMENTS
The Plan will be allowed to standard and substandard lives. In case of female lives,
this plan will be restricted to Category-I and II lives only. Physically handicapped
persons falling under Group A with loss of one limb will be eligible for this Plan with
standard extra rates. This Plan can be allowed to persons engaged in hazardous
occupations by charging appropriate occupation extra or with Clause 86. Further,
the following points should be noted
• Standard age proof will have to be submitted along with the Proposal Form.
• Proposals will be considered on the basis of Medical Reports and Special

reports (if any). FMR will be required to be done by DMR / Addl. DMR or by
TPA. FMR from MEs with enhanced powers will not be accepted.
• Cost of medical examination (including Special reports, if any) will be borne

by the Corporation as per rules.
• For the purpose of SUC and underwriting (Special Reports, Financial

underwriting etc.), the Sum Assured under the plan is to be considered.
PAID UP AND SURRENDER VALUE
• The policy will not acquire any paid-up value.

• No Surrender Value will be available under this plan.
LOAN
No loan will be granted under this plan.
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GRACE PERIOD FOR NON-FORFEITURE PROVISIONS

(For policies with Regular Premium)
A grace period of 15 days will be allowed for payment of yearly or half-yearly

premiums. If death occurs within this period and before the payment of the
premium then due, the policy shall be valid and the Sum Assured shall be payable
after deduction of the said premium as also unpaid premiums, if any, falling due
before the next policy anniversary of the policy. If premiums are not paid within the
grace period, the policy will lapse.
REVIVAL (For policies with Regular Premium)
If the policy has lapsed, it may be revived during the life time of the Life Assured,
but within a period of 5 years from the date of first unpaid premium and before the
date of maturity, on submission of proof of continued insurability to the satisfaction
of the Corporation and the payment of all the arrears of premium together with
interest at such rate as may be prevailing at the time of revival. The Corporation
reserves the right to accept at ordinary terms, accept with modified terms or decline
the revival of a discontinued policy.
Revival of lapsed policies can be considered with the following requirements:
Period from First Unpaid Premium

Requirements for revival
16 days to 60 days
Arrears of premiums with interest
thereon
61 days and above

Arrears of premiums with interest
thereon subject to submission of
proof of continued insurability to the
satisfaction of the Corporation as per
underwriting rules prevailing at the
time of revival.
The cost of the medical reports, including special reports, if any, required for the
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purposes of revival of the policy, shall be borne by the Life Assured.
The revival of a discontinued policy shall take effect only after the same is approved
by the Corporation and is specifically communicated to the Proposer/Life Assured.
PAYMENT OF CLAIMS
No claim concession and extended claim concession will be applicable to this policy.
REINSURANCE
The reinsurance rules will be as applicable to term assurance plans.
BACK-DATING INTEREST
The policy can be dated back within the financial year. No dating back interest shall
be charged. However, policies issued in this year cannot be back-dated before the
date of introduction.
The Convertible Term Assurance Policy
This plan of assurance is designed to meet the needs of those who are initially
unable to pay the larger premium required for a Whole Life or Endowment
Assurance Policy, but hope to be able to pay for such a policy in the near future. 16
This plan would be found useful also in cases where it is desired to leave the final
decision as to the plan to a later date when, perhaps a better choice could be
ENDOWMENT WITH PROFIT
made.
Suitability
Policy holders get an option of converting an policy into endowment assurance or
• payment
limited Being an whole
endowment assurance policy, this plan is apt for people of of all
life assurance.
ages and social groups who wish to protect their families from a financial
Suitable setback
For that may occur owing to their demise.
• The
For all peopleamount assured
with earned if not under
income paid by reason of
Category his death
I and earlier
unearned will payable
incomes under at
Category the
II,end of the Standard
basically endowment andterm where it can
sub-Standard beattracting
lives invested in
EMRan classes
annuity I and
II. provision for the rest of the policyholder's life or in any other way he may
think most suitable at that time.
Survival Benefit
Salient
Not Features
Applicable
• Benefit
Death Moderate Premiums
The •sumHigh
assured is payable only in the event of death of the Life Assured before
bonus
the expiry of the specified
• High liquidity term.
• Savings oriented
Minimum
This policy not only makes provisions for the family of the Life Assured in event of
Maximum
his early death but also assures a lump sum at a desired age. The lump sum can be
reinvested to provide an annuity during the remainder of his life or in any other way
Entry age suitable at that time.
considered
20 (nearer
birthday) are usually payable for the selected term of years or until death if it
Premiums
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occurs during the term period
Sum assured
Benefits
(Rs.)
50,000
Disability
1,00,00,000Benefit:
In case(years)
Term policy holder becomes totally and permanently disabled due to an accident
before
5 reaching the age of 70 and the policy is in full force, he will not be required
to
7 pay further premiums, (the Disability Benefit is available in respect of the first
Rs.20,000 sum assured on any one life) and the policy will continue to be in force.
Accident Benefit:
By paying a small extra premium of Rs.1 per Rs.1000/- sum assured per year he or
his family are entitled to the following benefits on death or permanent disability
Mode of
caused by accident. Even students above the age of 18 years can avail of this
Payment
benefit.
Maximum
premium
Premium Stoppage:
paying period
Policy loan
If payment of premiums ceases after at least THREE years' premiums have been
available
paid , a free paid-up policy for a reduced sum assured will be automatically secured
provided the reduced sum assured, exclusive of any attached bonus, is not less than
Yearly, Half-
Rs. 250/-. The reduced sum assured will become payable on the event as stipulated
yearly,Quarterly,
Monthly, Salary
Saving Scheme
55 years
No
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in the policy..
Bonus:
Is there anything extra payable besides the sum assured at the time of claim
settlement? Yes, but only if it is a ‘with profits’ policy. Every year the Life Insurance
Corporation distributes its surplus among policyholder to ‘with profits’ polices in the
form of bonuses. Substantial bonuses have been declared in the past after each
valuation of policy liabilities.
Death Benefits
• Payment of full sum assured + Vested Bonus
Survival Benefits
• Payment of full Sum Assured + Vested Bonus + Final Additional bonus, if

any.
Other Conditions

• Policy Term : 5 to 55 Years
• Mode of Payment : Monthly, Quarterly, Half Yearly, Yearly, Salary Saving

Scheme
JEEVAN ANAND
Suitability
• This policy is a combination of a whole life plan and with profit endowment
plan. It is suitable for people who wish to provide for their dependents,
insured sums,limit the premium payment term to their earning period and at
the same time provide for their old age.
Salient Features
• The plan combines the virtues of both whole life plan and endowment plan
• Under the plan, premiums are limited to the term chosen and benefits are
payable on the date of maturity. But the insurance cover on the life assured
continues till death, like a whole life policy
• Bonus accrues during the premium paying term and is payable at the end of
the premium paying term or on earlier death along with Final Additional
Bonus. No Bonus is paid on death after the premium paying term.
• Double Accident Benefit is available during the premium paying term and
thereafter up to age 70 wherein additional sum assured is payable on death
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due to an accident. This benefit is built in and no additional premiums needs

to be paid. Maximum Accident Cover available under this plan will be Rs. 5
lakh ( this limit excludes accident benefit taken under other plans)
• Premium payment can be Monthly, Quarterly, Half yearly, Yearly and SSS
Benefits
On Survival to maturity
• Full sum assured along with Bonus is payable. Policy does not cease and
insurance cover continues till death.
On Death within the term:
• Full sum assured along with the bonus is payable and policy ceases
On death after the term of the policy:
• Full sum assured is payable
Other Conditions

• Minimum age at entry :18 years
• Premium Paying term : 5-57 years
• Maximum age at entry : 65 years normally but 60 years for single premium
policy
JEEVAN MITRA (DOUBLE COVER)
Suitability
• Persons desirous of making provision for their dependants during their

earning period may opt for this policy. For a very low additional cost,
sufficient family benefit is secured.
• For example, for a person aged 30 selecting a 20 year insurance policy :
o A person choosing Endowment Assurance has to pay 51.50 per 1000
per annum
o A person choosing Jeevan Mitra - double cover has to pay 55.20 per
1000 per annum
Salient Features
• Sum assured is payable if the life assured survives the selected term, while
double the sum assured is paid in the event of life assured dying within the
term
• Bonus is payable on the date of maturity or in the event of death, whichever
is earlier
• Premium payment ceases on death or on expiry of term whichever is earlier
19
• Accident benefit is available with this plan
Benefits
On Survival
• Basic sum assured + vested bonus is given to the life assured
On Death
• Double the sum assured is given to the nominee of the life assured in the
event of death happening within the term + vested bonus
Other Conditions
• Policies are issued only with terms from 15 to 30 years

• Ages between 18 and 50 years only will be considered
• Maximum premium ceasing age : 70 years
• Minimum sum assured Rs 30,000
• People following hazardous occupations are not eligible
• Accident benefit can be availed of for basic policy
• Bonus calculated on basic insurance

JEEVAN MITRA (TRIPLE COVER)
Suitability
• Persons desirous of making provision for their dependants during their

earning period should have this policy. For a very low additional cost,
sufficient family benefit is secured.
• For example, for a person aged 30 years, selecting a 20 year insurance
policy:
o A person choosing Endowment Assurance has to pay 51.50 per 1000
per annum
o A person choosing Jeevan Mitra - triple cover has to pay 58.85 per
1000 per annum
Salient Features
• Sum assured is payable if the life assured survives the selected term, while
triple the sum assured is paid in the event of life assured dying within the
term
• Bonus is payable on the date of maturity or in the event of death, whichever
is earlier
• Premium payment cease on death or on expiry of term whichever is earlier
• Accident benefit is available with this plan
Benefits
20
On Survival
• Basic sum assured + vested bonus is given to the life assured
On Death
• Triple the sum assured is given to the nominee of the life assured in the
event of death happening within the term + vested bonus
Other Conditions
• Policies are issued only with term 15 to 30 years

• Ages between 18 and 50 years only will be considered
• Maximum premium ceasing age: 70 years
• Minimum sum assured Rs. 30,000
• Only standard male lives are eligible and sub standard category 1 and female
lives category 1 and 2
• People following hazardous occupations are not eligible
• Accident benefit can be availed for basic policy
• Bonus calculated on basic insurance
4.PLANS TO TAKE CARE OF CHILDRENS
MARRIAGE ENDOWMENT
Suitability
• Being an endowment assurance policy, this plan is apt for people with
fluctuating income of all ages and social groups who wish to protect their
families from a financial setback that may occur owing to their untimely
death and in particular to meet the educational and marriage expenses of
childern.
• The amount assured will become payable at the end of the endowment term
when it can be invested in an annuity provision for the rest of the
policyholder's life or in any other way he may think most suitable at that
time.
• The policyholder also has the option to receive the policy moneys in 10 equal
half-yearly installments. If there is a death claim, then the beneficiaries can
exercise their right instead
Salient Features
• The Marriage Endowment/ Educational annuity plan provides a sum assured

to be kept aside for the expenses of marriage or higher education of the
policyholder's children. Premiums payable for selected term or till death of
the life Assured. Benefits will be given only after the selected term.
• With the help of this policy one can earmark money exclusively for the
marriage or higher education of children – two major responsibilities in the
21
life of every family person.

• Under this plan the policy monies and bonus are paid only at the end of the
selected term, irrespective of whether the policy holder survives till the term
or not, i.e. the survival or death benefit is payable at the same time. Unlike
in the case of other endowment policies, the policy benefits in the case of
Marriage Endowment / Educational Annuity Plan are not released to the
policy holder’s family in case of his premature death, but retained by LIC and
released only at the end of the originally selected term.
• In case the policy holder were to die during the term of the policy, no further
premiums are payable but the bonus continues to accrue for the full-term of
the policy. The sum assured, plus the accumulated bonus for the full term,
are then paid to the family at the end of the policy’s term. Further, one can
opt to receive the money either in one lump sum, or in ten half-yearly
installments, the former may be suitable if the policy is bought essentially for
the purpose of a child marriage and the latter if it is a provision for higher
• education.
• n case, the Double Accident Benefit is availed, then an additional sum equal
to the basic Sum Assured becomes payable immediately on death due to
accident during the policy term
• Non-medical General and Special schemes are applicable
Benefits
Death Benefits
• (Sum Assured + Bonus) payable in lump sum or in 10 half-yearly instalments

at the option of beneficiary.
Survival Benefits
• (Sum Assured + Bonus) payable in lump sum.

• (Sum Assured + Bonus) payable in 10 half-yearly installments at the option
of the life assured
Accident Benefits
• Accident benefit equivalent to basic sum assured would be available by

paying appropriate additional premiums in that behalf. An amount equivalent
to Sum Assured become payable immediately.
Other Conditions

• Policy Term : 5 to 25 Years
• Mode of Payment : All Modes

22
JEEVAN CHHAYA
Suitability
• This plan is best suited for some one planning for children's higher education
or marriage, as money back instalments are payable in the last four years of
the term choosen. Couples having a child aged less than 1 year can take this
policy without having to undergo any medical examination. Others with or
without a child aged less than a year can also opt for the policy, but would
have to undergo medical examination
Salient Features
• A policy where sum insured is payable to the life assured in four equal
instalments in the last four years of the tenure of the policy
• Full sum insured becomes payable in case of death of the life assured within
the term and additionally money back instalments are payable
• Bonus for the full term plus any additional bonus is payable on the date of
maturity
• Premiums cease on death or on expiry of term whichever is earlier
• This plan can be availed for terms between 20 and 25 years
Benefits
• Under this plan, irrespective of the life assured surviving the term, four equal
instalments of the sum assured are payable in the last four years of the
tenure of the policy
• For example, for the term of the policy is 20 years, for every Rs 1,00,000 of
sum assured, Rs. 25,000 each is payable at the end of 17th, 18th, 19th and
20th policy year. If the death occurs in the 18th year, full sum insured
without bonus is payable immediately. The balance three instalments of one-
fourth sum assured each, will be paid in the 18th 19th and 20th policy year
Other Conditions
• Minimum amount of Sum Insured - Rs. 30,000

• Minimum age at entry - 18 years completed
• Maximum age at entry - 40 years
• Maximum age at entry can be raised to 45 years if the original or attested
birth or school certificate is submitted as age proof
• Maximum maturity age - 65 years
• For proposals without medical certificate, a declaration has to be given
• Some restrictions apply for female lives

JEEVAN KISHORE
Suitability
• This is an improved version of the New Children's Deferred Assurance plan.

Parents or legal guardians can propose the policy for children between ages 1
and 12 years, with risk commencing at an early age
23
Salient Features
• Children between ages 1 and 12 years are eligible

• Parents can propose the child’s life
• The Plan is basically endowment type.i.e.Sum assured is payable either on
survival to the term or on death happening within the term
Risk Commencement Age
• For children aged 1 to 4 years, risk commences from policy anniversary after
attaining age 7 years
• For children aged 5 to 10 years, risk commences from second policy
anniversary from the date of commencement of policy
• For children aged 11 years, risk commences from first policy anniversary
from the date of commencement of policy
Benefits
• On death of child during waiting period all premiums are refunded

• In case, the proposer i.e. the parent happens to die during the deferment
period, the policy has to be continued by regular payment of premiums.
(However, by payment of an additional premium, the proposer can secure a
waiver of premiums i.e. premium need not be paid on proposer's death till
date of vesting)
• Once the risk is commenced, Sum Assured is payable on survival to term or
on earlier death of life assured i.e. the child
Other Conditions
• Minimum Term : 15 years

• Maximum Term: 35 years
• Maximum Sum Assured :
o For child aged below 10 years: Rs.5,00,000
o For child aged 11 years: Rs.10,00,000
• Minimum maturity age: 20 years
• Maximum maturity age: 45 years
• For children aged 1 to 4 years, certified extracts from Municipal records or
horoscope or Baptism certificates, will be accepted as age proof if submitted
along with a declaration signed by both the parents
• For children aged 5 to 11 years, certified extracts from school records will
have to submitted
KOMAL JEEVAN
Suitability
• This policy is suitable for parents who wish to provide for the children’s
education expenses. It can be availed by parents having children aged
24
between 0 to 10 years.
Salient Features
• Parents can propose the child's life.

• It is money back plan wherein survival benefits are paid at regular intervals
after the child attains the age of 18 years.
• Guaranteed additions @ Rs.75 per Rs.1000 sum assured are payable under
the policy. This additions are payable either on death within the term(after
commencement of risk) or on child attaining he age of 26 years.
• Loyalty additions are paid either on death or on maturity depending on the
performance of the company.
• Risk commences after 2 years from the date of commencement of policy or
on policy anniversary following completion of 7 years by the child, whichever
is later.
• Policy vests on life assured on the policy anniversary or the child attaining
the age of 18 years.
• On vesting the life assured is the absolute owner of the policy and the
proposer ceases to have any interest in the policy.
• Premiums cease on the policy anniversary immediately after the child /life
assured attains age 18.
• Premiums are payable upto a term equal to 18 minus the age of the child at
entry.
• Premium waiver benefit can be availed by proposer by paying additional
premium wherein premiums under the policy stand waived on death of the
proposer within the term.
• Proposer can avail insurance cover to the extent of 20% of basic sum
assured subject to a maximum of Rs.100,000 by paying additional premium.
Father is the proposer. The child's mother, if she has an income of her own,
can also propose the policy. If both parents are not alive legal guardian can
propose.
• Policy can be gifted by grand parents, elder sisters and brothers, uncles by
taking a single premium plan.
Benefits
• Sum assured is paid in instalments at periodic intervals.

o 20% on policy anniversary after completing age 18.
• Guaranteed additions :
o Payable along with sum assured either on death within the term or on
policy anniversary after attaining age 26 years. The policy has to be
kept in full force at Rs.75 per thousand for each policy year to receive
this benefit.
Death Benefits
25
• In case of death of life assured before the commencement of risk, the policy
is cancelled and premiums paid are refunded.
• After the commencement of risk, if the life assured dies before policy
matures, full sum assured plus guaranteed additions are payable without
deduction of earlier installment benefits paid.
• Special benefit in maturity: Loyalty additions depending on policy duration
and sum assured are paid on maturity.
Other Conditions
• Children (both boys and girls ) up to 10 years of age only are eligible.
• Maturity Age: 26 Years
• Minimum sum assured Rs.1 lakh. Maximum sum assured Rs.25 lakhs.
Exclusions
• Suicide: This policy shall be void if the Life Assured commits suicide at any
time on or after the date on which the risk on the policy has commenced but
before the expiry of one year from the date of the policy. In case of death
due to suicide during this period, the Corporation will not entertain any claim
by virtue of this policy except to the extend of a third party's bona fide
beneficial interest acquired in the policy for valuable consideration of which
notice has been given in writing to the office to which premiums under this
policy were paid, at least one calendar month prior to death.
CHILD CARRIER PLAN
Introduction:
This plan is specially designed to meet the increasing educational and other needs of
growing children. It provides the risk cover on the life of child not only during the
policy term but also during the extended term (i.e. 7 years after the expiry of policy
term). A number of Survival benefits are payable on surviving by the life assured to
the end of the specified durations.
Options:
You may choose Sum Assured (S.A.), Maturity Age, Policy Term, Mode of Premium
payment and Premium Waiver Benefit.
Payment of Premiums:
You may pay the premiums regularly at yearly, half-yearly, quarterly or through
Salary deductions over the term of policy. Premiums may be paid either for 6 years
or upto 5 years before the policy term.
Sample Premium Rates:

Following are some of the sample premium rates per Rs. 1000/- S.A.:
26
For 6 years’ Premium paying term
Age
Maturity Age
23
24
25
Age
26 Maturity Age
27
23
24
0
111.25 25
26
107.25
103.35 27
99.60
0
95.95
111.25
4 107.25
103.35
128.35
123.80 99.60
95.95
119.35
115.05
4
110.90
128.35
123.80
8
148.15 119.35
115.05
143.05
138.05 110.90
8
128.50
148.15
27
12 143.05
CHILD FUTURE PLAN
138.05
170.20
Introduction:
This plan is specially designed to meet the increasing educational, marriage and
other
164.55 needs of growing133.20
children. It provides the risk cover on the life of child not
only during the policy term but also during the extended term (i.e. 7 years after the
159.05of policy term).128.50
expiry A number of Survival benefits are payable on surviving by
the life assured to the end of the specified durations.
153.65
Options:
You may choose Sum12
Assured (S.A.), Maturity Age, Policy Term, Mode of Premium
148.40
payment and Premium Waiver Benefit.
170.20
Payment of Premiums:
You may pay the premiums regularly at yearly, half-yearly, quarterly or through
164.55
Salary deductions over the term of policy. Premiums may be paid either for 6 years
or upto 5 years before the policy term.
159.05
Sample Premium Rates:
Following are some of153.65
the sample premium rates per Rs. 1000/- S.A.:
148.40
28
Age
Maturity Age
23
24
For Premium paying term = Policy Term less 5 years
25
Age
26 Maturity Age
27
23
24
0
112.55 25
26
108.00
103.65 27
99.45
0
95.45
53.10
4 49.45
46.20
132.35
127.00 43.25
40.60
121.85
116.90
4
112.15
71.80
66.90
8
156.20 61.65
57.00
149.90
143.85 52.95
8
132.45
107.80
29
12 96.30
86.75
184.20 5.JOINT LIFE PLANS
JEEVAN SAATHI
176.85 78.75
Suitability
71.90
169.75
• This plan is ideal for employed couples. With a marginal addition to the
premium of an Endowment Assurance, two lives are covered under this
162.95policy.
12
156.40 Features
Salient
184.20
• This plan is issued on the lives of husband and wife
• Premium payment ceases on first death or upto maturity date if both lives
155.40
survive upto the date of maturity.
133.90
Benefits
117.25
• Sum assured along with vested bonus is payable on date of maturity if both
lives survive upto date of maturity.
108.05
• Basic sum assured is payable on first death within the term, to the surviving
spouse.
• If the second life also dies within the term of the policy, the nominee gets
another sum assured along with vested bonus.
• If the second life survives to maturity, an amount equal to sum assured is
paid along with vested bonus.
Other Conditions
• Minimum sum assured is Rs. 30000/-.

• Minimum age at entry is 20 years
• Maximum age at entry is 50 years
• Maximum maturity age is 70 years
• Age of the older life should not be more than 65 years on maturity
• Premiums are based on mean age
• Where sum proposed is over 1 lakh, the age of older life cannot be more
than 60 years
• Lady lives who have undergone two caesarian operations are not eligible for
this policy
• Accident benefit premiums to be paid on both lives. After 1st death, accident
benefit is allowed on the second life also either by the same accident or by
another accident within the same year
• Only Standard age proof is accepted
• Bonuses vest even after cessation of premium on 1st death, since it is
payable only along with the sum assured payable in the event of death of
2nd life within the term or on 2nd life surviving date of maturity
• Bonus is calculated on basic sum assured
6.PLANS EXCLUSIVELY FOR WOMEN

JEEVAN BHARATI
30
Suitability
• This plan is designed exclusively for women and provides funds at regular
intervals so that they can be utilized on occasions such as marriage,
sickness, education etc. All female lives between 18 & 50 can secure the
policy. Physically handicapped women are also eligible subject to certain
conditions.
Salient Features
• This is a money back plan providing periodic return of sum assured with
facility to encash at will.
• Policyholder has the option to retain the periodic survival benefits with LIC
and gain attractive interest.
• Policy provides Guaranteed addition @ Rs.50 per Rs.1000 sum assured for
the first five years and participation in profits (bonus) thereafter.
• Life cover continues for 3 years despite non-payment of premium. However
this facility is available only if at least 2 years premium have been paid.
• Female Critical Illness cover: A benefit equal to the Sum Assured (subject to
a maximum of Rs. 2 Lacs will be available on the occurrence of any of the
following Critical Illnesses. Critical Illnesses covered are Breast Cancer;
Ovarian/Fallopian Tube Cancer; Cervical Cancer; Uterine Cancer; Vaginal /
Vulval Cancer.
• Congenital Disability Benefit : If a child born to the policyholder, suffers from
any of the congenital disabilities listed below, a benefit equal to 50 % of the
Sum Assured subject to a maximum of Rs.1 Lac will be available for two
children. The list of Congenital disabilities : Downs syndrome ; Spina Bifida ;
Tetralogy of fallot; Oesophageal Atresia & Tracheo-oesaphageal Fistula ; Anal
Atresia; Imperforate anus ; Cleft Palate with or without Cleft Lip.
• Accident benefit rider can be availed by paying additional premium of Rs.1
per 1000 sum assured. This rider pays for an additional sum assured in the
event of death due to an accident.
• Flexibility in premium payment: Policyholder has the flexibility to pay next
yearly premiums in advance and avail attractive premium rebates.
Survival Benefits
• 20 % of the Sum Assured at the end of 5 and10 years for 15 year term
(balance payable on maturity plus Guaranteed Additions plus bonus , if any)
• 20 % of the Sum Assured at the end of 5, 10 and 15 years for 20 year term
(balance payable on maturity plus Guaranteed Additions plus bonus , if any)
Death Benefits
• Full sum assured along with guaranteed additions and bonus, irrespective of
earlier survival benefits are payable.
Other Conditions

31
• Maximum sum assured : Rs.25,00,000

• Minimum age at entry: 18 years
• Maximum age at entry: 50 years
• Mode of payment : Yearly only
• Maturity age : 70 years
• Terms Available: 15 and 20 years
7.PLANS TO TAKE CARE OF HANDICAPPED
JEEVAN AADHAR
Suitability
• It is a Limited Payment Whole Life Plan specifically designed to make

provision for the maintenance of handicapped dependants.
Salient Features
• The plan has been designed to assure a handicapped dependant to have a

secured life.
• Benefits can be availed of only in the event of death of life assured.
• In the event of the death of the life assured, the benefits are payable partly
in lump sum and partly in the form of an annuity to the handicapped through
a nominee or a trustee.
• The policy is a whole life plan with limited premiums.
• Premium paying terms are 10, 15, 20, 25, 30 and 35 years.
Benefits
On Death of Life Assured
• 20% of the Notional Sum Assured is paid immediately to the nominee.

• The remaining 80% of the Notional sum assured is utilized to provide an
annuity certain for 15 years and life thereafter of the handicapped
dependant. The actual Annuity is calculated at the time of claim.
• Notional Sum Assured: Basic sum assured + Guaranteed Additions +
Terminal Addition.
• Guaranteed Additions: Guaranteed additions of Rs.100 per Rs. 1000 sum
assured, for each completed policy year for which the policy was in full force.
Such guaranteed additions will accrue up to age 65 years or till the life
assured's death, whichever is earlier.
• Terminal Addition: Payable only if 10 years' premiums have been paid and
policy is in force. Amount payable on death of life assured depends on the
rates declared by LIC on favorable working experience.
Handicapped dependant pre-deceasing the life assured
• In the event of the handicapped dependant pre-deceasing the life assured

during the premium term the contract ceases.
• The life assured then has the option of :
32
o Making the policy paid-up or.

o Refund of premiums(excluding extra premium ).
Other Conditions
• Minimum sum assured: Rs. 50000.

• Minimum age at entry: 22 years.
• Maximum age at entry : 60 years.
• Maximum premium ceasing age: 70 years.
• No surrender value is allowed.
• No loan is granted on this policy.
• The proposer has to submit an addendum to proposal declaring the disability
of the handicapped duly Certified by a government doctor and can claim
separate relief under section 80 DDA of IT Act 1961.
• Premiums are based on the age of the handicapped dependant as well as the
life assured.
• Handicapped dependant is defined.
• Any amount paid to the life assured on the dependant pre-deceasing life
assured the same is treated as income of the assessee and hence taxable.
JEEVAN VISHWAS
Suitability
• A special plan for the benefit of handicapped persons. Unlike Jeevan Aadhar,
which is a Whole Life Plan, this is an Endowment Assurance plan with
benefits payable either on date of maturity or on death, whichever is earlier.
Salient Features
• The plan has been designed to assure a handicapped dependant to have a

secured life.
• Payment of benefits will be on the basis of 20% as a lump sum and balance
80% to secure an annuity.
• Basic sum assured payable either on survival to the term or on death
happening within the term.
• Guaranteed Additions are given at a fixed rate of Rs. 60 per Rs 1000 sum
assured.
• Loyalty Additions are payable for each completed policy year.
• Premium paying terms are between 10 to 25 years.
Benefits
On the Date of Maturity or earlier death during the term (of life assured)
• Basic sum assured + Guaranteed additions of Rs 60 per Rs 1000 sum

assured + Loyalty Addition on the basis of performance of the LIC.
33
Once the claim is admitted, there are three options available:
1. Regular income for life.

2. Regular income certain for 5, or 10 or 15 years and life thereafter.
3. Regular income for life with return of notional purchase price i.e. 80% of
basic sum assured + 80% of guaranteed additions and loyalty additions.
Handicapped dependant pre-deceasing the life assured
• In the event of the handicapped dependant pre-deceasing the life assured,

the life assured has the option to:
o Surrender the policy or continue it by paying premium.
o Life assured also has option to receive full sum assured in lump sum
or on a 20% to 80% basis.
Accident benefits if availed are paid as lump sum as per Accident benefit rules.
Other Conditions
• Minimum sum assured: Rs. 50000.

• Minimum age at entry: 20 years.
• Maximum age at entry: 65 years.
• Minimum Term: 10 years.
• Maximum Term: 40 years.
8.MONEY BACK PLANS
MONEY BACK POLICY

Suitability
• This plan is suitable for people who require lump sum amounts in future to
meet specific expenses such as children's education or marriage. At the same
time, the policy provides insurance protection for the family as well as old
age provision
Salient Features
• A policy where lump sum amounts are paid to the life assured at periodic
intervals on survival
• In case of death of the life assured within the term, the total sum insured is
paid to the nominee, irrespective of earlier survival benefits
• Bonus is payable under this scheme
• Premiums are to be paid regularly to get survival benefits
• Premiums cease at death or on expiry of term whichever is earlier
34
• This plan can be availed of for terms 20 or 25 years
Benefits
On Survival
35
Term
At the end
of
Amount of
money
back
For
Example,
on a Rs.
1,00,000
policy
20 years
5th year
20% of
sum
assured
Rs. 20000
10th year
20% "
Rs. 20000
15th year
20% "
Rs. 20000
20th year
40% "
36
BIMA BACHAT PLAN

What is Bima Bachat?
LIC’s Bima Bachat is a money-back policy which offers financial security and
assurance to the policy holder and his family. Bima Bachat requires the policy holder
to pay only one premium. The amount paid for the premium depends on the
duration of the policy taken and life insurance is available till the date of maturity.
What other benefits do I receive during the specified duration of the

policy?
For a term of 9 years: The policy holder will receive 15% of the sum assured at the
end of every 3rd and 6th policy year.
For a term 12 years: The policy holder will receive 15% of the sum assured at the
end of every 3rd, 6th and 9th policy year.
For a term 15 years: The policy holder will receive15% of the sum assured at the
end of every 3rd, 6th, 9th and 12th policy year.
What additional benefits do I get upon maturity?
If the policy holder outlives the duration of the policy, at the time of maturity, a
single premium payment (excluding extra premium) is made along with loyalty
additions, if any.
How much insurance do I get?
The policy holder is insured for an amount equal to the sum assured.
What about the installment received already?
The insurance cover is irrespective of the installments received.
When am I eligible for the guaranteed surrender value?
The guaranteed surrender value is available only after completion of at least one
policy year. This value is equal to 90 % of the single premium paid (excluding extra
premium).
What other benefits does this insurance cover offer?
Bima Bachat is the only money-back policy that offers a loan facility. The rate of
interest for this will be determined from time to time by the corporation. Presently
the rate of interest is 9% p.a. payable half-yearly.
It also offers other benefits like the 15 day cooling off period, grace period and
revival.
Who is eligible for the policy? Are there other conditions or restrictions?
The following are the requirements that one needs to be aware of before applying
for this
37
policy:
· The person applying for the policy should have completed 15 years and should not
be older than 66 years.
· The policy will mature when the person is 75 years old.
· There is a choice of three terms to choose from (9, 12 and 15 years) for the policy
depending on the age and requirement of the applicant.
· The minimum sum that needs to be assured is Rs 20,000/- and there is no limit on
the amount that can be assured.
· It is important to note that the sum assured should be in multiples of Rs 5000/-
only.
· The policy requires the holder to pay a single premium.
Single Premium
The sample premium rates are as under: -

38
Age
Annua
l
Premi
um
per
1000
SA
9
12
15
15
716.40
771.35
804.00
20
717.20
771.85
804.40
25
717.55
772.25
804.95
30
718.45
773.35
806.10
35
721.05
775.75
808.55
40
725.80
780.25
812.95
45
734.10
787.60
819.60
50
746.60
797.90
828.95
39
9.PENSION PLANS
JEEVAN NIDHI
INTRODUCTION: LIC’s JEEVAN NIDHI is a with profits Deferred Annuity (Pension)
plan. On survival of the policyholder beyond term of the policy the accumulated
amount (i.e. Sum Assured + Guaranteed Additions + Bonuses) is used to generate a
pension (annuity) for the policyholder. The plan also provides a risk cover during the
deferment period. The USP of the plan being the pension can commence at 40
years. The premiums paid are exempt under Section 80CCC of Income Tax Act.
SALIENT FEATURES
a. Guaranteed Additions: Guaranteed Additions @ Rs.50/- per thousand

Sum assured for each completed year, for the first five years.
b. Participation in profits : The policy shall participate in profits of the

Corporation from the 6th year onwards and shall be entitled to receive
bonuses declared as per the experience of the Corporation.
c. Benefit On Vesting :
1. Option to commute up to 1/3rd of the amount available on vesting,
which shall include the Sum Assured under the Basic Plan together
with accrued Guaranteed Additions, simple Reversionary Bonuses and
Terminal Bonus, if any.
2. Annuity as per the option selected: Annuity on the balance amount if
commutation is exercised, otherwise annuity on the full amount.
d. Annuity Options:
On vesting, the annuity instalment, mode of annuity payment and type of annuity
which shall be made available to the Life Assured (Annuitant) / Nominee will depend
upon the then prevailing Immediate Annuity plan of the Life Insurance Corporation
of India and its terms and conditions.
Currently the following options are available under LIC’s immediate annuities:
1. Annuity for life: The annuity is paid to the life assured as long as he/she is
alive.
2. Annuity Guaranteed for certain periods: The annuity is paid to the life
assured for periods of 5 or 10 or 15 or 20 years as chosen by him/her, whether or
not he/she survives that period. After the chosen period, the annuity is paid to the
life assured as long as he/she is alive.
3. Annuity with return of purchase price on death: The annuity is paid to the
life assured as long as he/she is alive. On the death of the life assured, the purchase
price of the annuity is paid as death benefit. The purchase price includes the Sum
Assured under the Basic Plan, the accrued Guaranteed Additions and any accrued
bonuses, excluding the commuted value, if any.
40
4. Increasing annuity: The annuity is paid to the life assured as long as he/she is
alive. The amount of annuity increases every year at a simple rate of 3% per
annum.
5. Joint Life Last Survivor Annuity: The annuity is paid to the life assured as long
as he/she is alive. On death of the life assured, 50% of the annuity is payable to the
nominated spouse as long as the spouse is alive.
e. Death Benefit on death before annuity vests: On the death of the Life
Assured during the deferment period of the policy, i.e. before the annuity
vests, an amount equal to the Sum Assured under the Basic plan along with
the accrued Guaranteed Additions, simple Reversionary Bonuses and
Terminal Bonus, if any, will be paid in a lump sum to the appointed nominee,
provided the policy is in force for full Sum Assured. Nominee will also have
the option to purchase an annuity with this amount.
ELIGIBILITY CONDITIONS AND OTHER RESTRICTIONS UNDER THIS PLAN:
For Basic Benefit
a) Minimum age at entry: 18 years (completed)
b) Maximum age at entry: 65 years
c) Minimum age at vesting: 40 years
d) Maximum age at vesting: 75 years
e) Policy terms: 6 to 35 years under Single Premium policies and 5 to 35 years

under Regular Premium policies
f) Modes of premium payment: Yearly, Half-yearly, Quarterly, SSS & Single Premium
g) Sums Assured allowed: Rs.50,000/- and in multiples of Rs.5,000/- thereafter,

with no upper limit.
h) Minimum Annual Premium: Rs.3,000/-
i) Minimum Single premium: Rs.10,000/-
For Term Assurance Rider Option:
c) Maximum age at vesting: 60 years
d) Policy terms: 6 to 35 years under Single Premium mode and 10 to 35 years

41
under regular premium mode
e) Minimum Sum Assured: Rs.1,00,000/-
f) Maximum Sum Assured: An amount equal to the Sum Assured under the Basic
plan subject to a limit of Rs.25,00,000/- taking all Term Assurance Rider Sum
Assured under all policies of a life assured
g) Multiples of Sum Assured: Rs.25,000/-
For Critical Illness Rider Option
c) Maximum age at vesting: 60 years
d) Policy terms: 10 to 35 years
e) Minimum Sum Assured: Rs.50,000/-
f) Maximum Sum Assured: An amount equal to the Sum Assured under the Basic
plan subject to a limit of Rs.5,00,000/- taking all Critical Illness Rider Sum Assured
under all policies of a life assured
g) Multiples of Sum Assured: Rs.10,000/-
REBATES
Rebate for Mode of Premium Payment:
Yearly … 2% of tabular premium
Half-Yearly … 1% of tabular premium
Quarterly … Nil
Monthly … 5% extra of tabular premium
Large Sum Assured Rebates:
For Regular Premium policies:
Sum Assured Rebate
50,000 to 1,00,000 Nil

42
1,05,000 to 3,00,000 1%o S.A.
3,05,000 and above 2%o S.A.
For Single Premium Policies:
Sum Assured Rebate
50,000 to1,00,000 Nil
1,05,000 to 3,00,000 5%o S.A.
3,05,000 and above 10%o S.A.
f. Grace Period: A grace period of 30 days will be available for payment of

yearly, half-yearly or quarterly premiums and 15 days for monthly premiums.
g. 15 – days Cooling-off period: If policyholder is not satisfied with the

“Terms and Conditions” of the policy, he/she may return the policy to us
within 15 days.
h. Paid-up Value: The policy will acquire paid-up value after at least 3 full
year’s premiums have been paid.
i. Guaranteed Surrender Value:
Before the annuity vests, the policy can be surrendered at any time after the
completion of 3 policy years. For a regular premium policy, the Guaranteed
Surrender value is available provided 3 years’ premiums are paid, and it is 30% of
the premiums paid excluding premiums paid in the first year. For a Single Premium
policy, the Guaranteed Surrender Value available after completion of 3 policy years
is 90% of the Single Premium. Any extra premiums and premiums for Term
Assurance Rider Option, Critical Illness Rider option and Accident Benefit, if any will
be excluded.
The cash value of any existing vested Guaranteed Additions and vested Simple
Reversionary Bonuses, if any, will be allowed in the surrender value.
1. Revival: The policyholder can revive his lapsed policy by paying arrears of
premium together with interest within a period of five years from the date of
first unpaid premium subject to satisfactory evidence of health. The rate of
interest for this purpose will be decided by the Corporation from time to
time. The present rate of interest is 9% pa.
k. Options:
43
Accidental Death and Disability Benefit:
In case of death due to accident (within 180 days) an additional amount equal to
the Accident Benefit Sum assured will be payable. In case of Total and Permanent
disability arising due to accident an amount equal to accident benefit sum assured
will be payable over a period of 10 years in monthly instalments. However, the
payment of accident benefit will be subject to an overall limit of Rs.25 lakh under all
policies of the Life Assured with the Corporation taken together.
The disability due to accident should be total and such that the Life Assured is
unable to carry out any work to earn a living. Following disabilities due to accident
are also covered –
a) irrevocable loss of the entire sight of both eyes or
b) amputation of both hands at or above the wrists or
c) amputation of both feet at or above ankles, or
d) amputation of one hand at or above the wrist and one foot at or above the
ankle.
No benefit will be paid in case of accidental death or disability due to accident in

case of
a) intentional self-injury, attempted suicide, insanity or immorality or the Life

Assured is under the influence of intoxicating liquor, drug or narcotic,
b) engagement in aviation or aeronautics other than that of a passenger in any air

craft.
c) injuries resulting from riots, civil commotion, rebellion, war, invasion, hunting,
mountaineering, steeple chasing or racing of any kind
d) accident resulted from committing any breach of law.
e) accident arising from employment in armed forces or military services or police

organisation.
Term Assurance Rider Option: Term Assurance as optional rider will be available
under this plan. Premiums for this option are payable during the premium paying
term and an amount equal to Term Assurance Sum Assured will be payable on death
during the policy term. The maximum cover for this rider will be Rs.25 lakh under all
policies of the Life Assured with the Corporation taken together.
Critical Illness Rider Option: An amount equal to the Critical Illness Rider Sum
Assured as optional rider will be payable in case of diagnosis of defined categories of
Critical Illness subject to certain terms and conditions. The maximum cover for this
rider will be Rs.5 lakh under all policies of the Life Assured with the Corporation
taken together.
44
If opted for Premium Waiver Benefit, then in case the Life Assured is diagnosed with
any of the Critical Illnesses covered under the policy, the total future premiums in
respect of the policy will be waived. Sum Assured under all such policies with the
Corporation taken together will not exceed Rs.5 lakh.
LOAN / ASSIGNMENT
No Loan/Assignment will be available by the Corporation to the policyholders under

this plan.
EXCLUSIONS:
Suicide: This policy shall be void if the Life Assured commits suicide (whether sane
or insane at the time) at any time on or after the date on which the risk under the
policy has commenced but before the expiry of one year from the date of
commencement of risk under the policy and the Corporation will not entertain any
claim by virtue of this policy except to the extent of a third party’s bonafide
beneficial interest acquired in the policy for valuable consideration of which notice
has been given in writing to the office in which the policy is being serviced, at least
one calendar month prior to death.
JEEVAN AKSHAY - V
Introduction:
This is an Immediate Annuity plan, which can be purchased through lump sum
payment as Single Premium. The plan provides for annuity payments which are
available throughout the life time of an annuitant. Various options are available for
the type and mode of payment of annuities.
Options Available:
The following options are available under the plan
Type of Annuity:
• Regular annuity for life.

• Annuity payable for 5, 10, 15 or 20 years certain and thereafter as long as
the annuitant is alive.
• Annuity for life with return of purchase price on death of the annuitant.
• Annuity increasing at simple rate of 3% p.a.
• Annuity for life with a provision of 50% of the annuity to spouse for life on
death of the annuitant.
• Annuity for life with a provision of 100% of the annuity to spouse for life on
death of the annuitant.
You may choose any one. Once chosen, the option cannot be altered.
Mode:
• Annuity may be paid either at monthly, quarterly, half yearly or yearly

intervals. You may opt any mode of payment of Annuity.
45
Salient features:
• Premium is to be paid in a lump sum.

• Minimum purchase price : Rs.50,000/= or such amount which may secure a
minimum annuity of Rs.3,000/- p.a.
• No medical examination is required under the plan.
• No maximum limits for purchase price, annuity etc.
• Minimum age 40 years last birthday, Maximum age 79 years last birthday.
• Age proof necessary.
Annuity Rate:
Amount of annuity payable at yearly intervals which can be purchased for Rs. 1 lakh
under different options is as under:
46
Age last birthday

Yearly annuity
amount under
option
( i)
( ii ) (5years certain)
( iii )
( iv )
( v)
( vi )
40
7330
7320
6720
5430
7120
6920
45
7610
7590
6760
5730
7320
7060
50
7990
7960
6800
6130
7600
7250
55
8520
8460
6860
6680
7990
7520
60
9230
9140
6940
7410
8510
7900
65
10300
10130
7030
8480
9280
70
11980
11570
7130
47
10130
10450
NEW JEEVAN DHARA - I
9270
Product summary:
These are Deferred Annuity plans that allow the policyholder to make provision for
75
regular income after the selected term.
14420
13400
Premiums:
7240
Premiums are payable yearly, half-yearly, quarterly, monthly or through Salary
12500
deduction, as opted by you, throughout the term of the policy or till earlier death.
12150
Alternatively, the premium may be paid in one lump sum (single premium).
10500
Tax Benefits:
Tax relief under Section 80ccc is available on premiums paid under New Jeevan
Suraksha I (Table No.147). The premiums paid under New Jeevan Dhara I (Table
No.148) qualify for tax relief under Section 88.
Bonuses:
These are with-profit plans and participate in the profits of the Corporation’s annuity
/ pension business. Policies get a share of the profits in the form of bonuses. Simple
Reversionary Bonuses are declared per thousand Sum Assured annually at the end
of each financial year. Once declared, they form part of the guaranteed benefits of
the plan. Final (Additional) Bonuses may also be payable provided policy has run for
a certain minimum period.
Benefits
Death Benefit:
On death of the Life Assured during the term of the policy the basic premiums paid,
excluding any rider premiums or extra premiums, up to the date of death
accumulated with interest at such rates as decided by the Corporation will be
payable to the nominee. Currently, the interest rate is 3%, 4% or 5 % if the death
occurs within the first 10 years, 20 years or thereafter respectively.
Maturity Benefit:
At maturity the policyholder can encash up to a maximum 25% of the maturity
proceeds as a tax-free lump sum. The balance should be compulsorily converted to
an annuity at the rates applicable at the time of maturity of the policy. The
policyholder has the choice of opting for any one of 5 annuity options. The annuity
options available are
(i) annuity payable for remainder of life
(ii) annuity payable for life with guaranteed period of 5, 10, 15 or 20

years
(iii) Joint life and last survivor annuity to the annuitant and his/ her
spouse under which annuity payable to the spouse on death of the
purchaser will be 50% of that payable to the annuitant
(iv) Life annuity with a return of purchase price on death of the

annuitant
(v) Life annuity increasing at a simple rate of 3% per annum

48
Supplementary/Extra Benefits:
These are the optional benefits that can be added to your basic plan for extra
protection/option. An additional premium is required to be paid for these benefits.
Surrender Value:
Buying a life insurance contract is a long-term commitment. However, surrender
value is available on the plan on earlier termination of the contract.
Guaranteed Surrender Value:

The policy may be surrendered after it has been in force for 2 years or more but
before the vesting date. The guaranteed surrender value is 90% of the basic
premiums paid excluding the first year’s premium. In case of a single premium
policy the guaranteed surrender value is allowed after 2 years from the date of
commencement of the policy.
Corporation’s policy on surrenders:

In practice, the company will pay a Special Surrender Value – which is equal to or
higher than the Guaranteed Surrender Value. The benefit payable on surrender
reflects the discounted value of the reduced claim amount that would be payable on
death or at maturity. This value will depend on the duration for which premiums
have been paid and the policy duration at the date of surrender. In some
circumstances, in case of early termination of the policy, the surrender value
payable may be less than the total premium paid.
The Corporation reviews the surrender value payable under its plans from time to
time depending on the economic environment, experience and other factors.
NEW JEEVAN SURAKSHA - I
Product summary:
These are Deferred Annuity plans that allow the policyholder to make provision for
regular income after the selected term.
Premiums:
Premiums are payable yearly, half-yearly, quarterly, monthly or through Salary
deduction, as opted by you, throughout the term of the policy or till earlier death.
Alternatively, the premium may be paid in one lump sum (single premium).
Tax Benefits:
Tax relief under Section 80ccc is available on premiums paid under New Jeevan
Suraksha I (Table No.147). The premiums paid under New Jeevan Dhara I (Table
No.148) qualify for tax relief under Section 88.
Bonuses:
These are with-profit plans and participate in the profits of the Corporation’s annuity
/ pension business. Policies get a share of the profits in the form of bonuses. Simple
Reversionary Bonuses are declared per thousand Sum Assured annually at the end
of each financial year. Once declared, they form part of the guaranteed benefits of
the plan. Final (Additional) Bonuses may also be payable provided policy has run for
a certain minimum period.
Benefits
49
Death Benefit:
On death of the Life Assured during the term of the policy the basic premiums paid,
excluding any rider premiums or extra premiums, up to the date of death
accumulated with interest at such rates as decided by the Corporation will be
payable to the nominee. Currently, the interest rate is 3%, 4% or 5 % if the death
occurs within the first 10 years, 20 years or thereafter respectively.
Maturity Benefit:
At maturity the policyholder can encash up to a maximum 25% of the maturity
proceeds as a tax-free lump sum. The balance should be compulsorily converted to
an annuity at the rates applicable at the time of maturity of the policy. The
policyholder has the choice of opting for any one of 5 annuity options. The annuity
options available are
(i) annuity payable for remainder of life
(ii) annuity payable for life with guaranteed period of 5, 10, 15 or 20

years
(iii) Joint life and last survivor annuity to the annuitant and his/ her
spouse under which annuity payable to the spouse on death of the
purchaser will be 50% of that payable to the annuitant
(iv) Life annuity with a return of purchase price on death of the

annuitant
(v) Life annuity increasing at a simple rate of 3% per annum
Supplementary/Extra Benefits:
These are the optional benefits that can be added to your basic plan for extra
protection/option. An additional premium is required to be paid for these benefits.
Surrender Value:
Buying a life insurance contract is a long-term commitment. However, surrender
value is available on the plan on earlier termination of the contract.
Guaranteed Surrender Value:

The policy may be surrendered after it has been in force for 2 years or more but
before the vesting date. The guaranteed surrender value is 90% of the basic
premiums paid excluding the first year’s premium. In case of a single premium
policy the guaranteed surrender value is allowed after 2 years from the date of
commencement of the policy.
Corporation’s policy on surrenders:

In practice, the company will pay a Special Surrender Value – which is equal to or
higher than the Guaranteed Surrender Value. The benefit payable on surrender
reflects the discounted value of the reduced claim amount that would be payable on
death or at maturity. This value will depend on the duration for which premiums
have been paid and the policy duration at the date of surrender. In some
circumstances, in case of early termination of the policy, the surrender value
payable may be less than the total premium paid.
50
The Corporation reviews the surrender value payable under its plans from time to
time depending on the economic environment, experience and other factors
10.SPECIAL PLANS
JEEVAN SARAL
LIC’s Jeevan Saral brings you
• Higher cover
• Smooth return
• Liquidity and
• Considerable flexibility
SPECIAL FEATURES :
Under this plan death cover will be same irrespective of age at entry and term. The
sum payable at maturity however differs for different entry ages and terms. This
plan is very appropriate for employees seeking life cover through Salary Savings
Schemes.
BENEFITS :
On death:
• 250 times the monthly premium, plus return of premiums excluding

extra/rider premium and first year premium, plus the loyalty addition, if any.
On Maturity:
• Maturity sum assured, plus Loyalty additions, if any.
The specimen Maturity Sums Assured (MSAs) per Rs.100/- monthly premium are
given below for some of the ages and terms
51
Age of Entry
Policy Term
10 Years
15 Years
20 Years
25 Years
20
11,156
19,628
28,039
36,839
30
11,053
19,300
27,345
35,492
40
10,431
17,839
24,598
30,854
50
8,442
13,444
16,164
--
SURRENDER VALUE:
The policy can be surrendered after it has been in force for at least 3 full years. The
surrender value will be the greater of Guaranteed Surrender Value or Special
Surrender Value as given below:
Guaranteed Surrender Value (GSV):
The GSV will be equal to the 30% of the total amount of premiums paid excluding
52
the premiums for the first year and all the extra premiums and premium for
accident benefit / term riders.
Special Surrender Value (SSV):
The special surrender value under the policy shall be paid as the sum of (a) and (b)
given as under:
a) Discounted value or accumulated value, as the case may be, of the following:
80% Of maturity sum assured if less than 4 years premiums have been paid, 90%
of the maturity sum assured, if 4 or more years but less than 5 years premiums
have been paid and 100% of the maturity sum assured, if 5 or more years
premiums have been paid. The maturity sum assured for this para will be the
maturity sum assured corresponding to the term for which premiums have been
paid under the policy. If the premiums have been paid for a fraction of a year, the
maturity sum assured shall be worked out by way of mathematical interpolation.
The above amount shall be discounted from the due date of the next instalment
premium to the date of surrender if the duration elapsed from the date of
commencement of the policy to the date of surrender is less than the term for which
the premiums have been paid. If the duration elapsed from the date of
commencement to the date of surrender is greater or equal to the term for which
premiums have been paid then the above amount shall be accumulated with interest
for the period from the due date of the first unpaid premium to the date of
surrender.
The period for which the amount is to be discounted or accumulated shall be taken
in complete months and fraction of a month will be ignored. The rate of interest to
be used for discounting or accumulating, as the case may be, will be announced by
the Corporation at the start of every financial year.
b) The loyalty additions, if any, as announced while declaring the results of the
Corporation’s valuation as at 31st March, immediately preceding the date of
surrender.
PAID UP VALUE:
If after at least 3 full year’s premiums have been paid, and any subsequent
premium is not duly paid, the policy shall not be wholly void, but shall subsist as a
paid-up policy for a reduced sum. The benefit payable on death/maturity under such
policies would depend on the number of years for which premiums have been paid
and shall be the greater of:
- a sum that bears the same ratio to the full maturity sum assured as the number of
premiums actually paid shall bear to the total number originally stipulated in the
policy
OR
- the surrender value as per para 4 above assuming that the policy has been
surrendered on the date of death / maturity, as the case may be.
53
OPTIONS:
The plan offers following optional riders by payment of additional premium:
• Accidental death and disability benefit

• Term Assurance benefit.
The maximum cover for the above riders will be Rs.25 lakhs under all policies of the
Corporation taken together.
ACCIDENTAL DEATH AND DISABILITY BENEFIT:
On death arising as a result of accident an additional amount equal to the Accident

Benefit Sum Assured is payable.
n total and permanent disability arising due to accident(within 180 days from the
date of accident) this amount will be paid over a period of 10 years in monthly
instalments.
unable to carry out any work to earn the living. The following disabilities due to
accidents are covered-
• Irrevocable loss of the entire sight of both eyes or

• Amputation of both hands at or above the wrists or
• Amputation of both feet at or above ankles, or
• Amputation of one hand at or above the wrist and one foot at or above the
ankle,
• No benefit will be paid in case of accidental death or disability due to
accident in case of intentional self injury, attempted suicide, insanity or
immorality or if the Life Assured was under influence of intoxicating liquor,
drug or narcotic, at the time of accident.
• Engagement in aviation or aeronautics other than that of a passenger in any
air craft.
• Injuries resulting from riots, civil commotion, rebellion, war, invasion,
hunting, mountaineering, steeple chasing or racing of any kind.
• Accident resulting from committing any breach of law.
• Accident arising from employment in armed forces or military services or
police organisation.
TERM ASSURANCE RIDER
An amount equal to Term Assurance Sum Assured will be payable on death of the
life assured during the policy term.
OTHER BENEFITS :
The plan offers a number of other benefits :

54
Auto Cover :
The plan offers Auto cover of 12 months after the policy has been in force for a
period of 3 years or more.
Flexible Term :
The policyholder can choose a maximum term but can surrender at any time
without any surrender penalty or loss.
Partial Surrenders :
The plan will allow partial surrender from 4th year onwards subject to certain
conditions for which please refer to policy document.
Due to existence of the flexible term and partial surrenders the policyholder will
enjoy a lot of liquidity under the plan. The plan also provides for “15 days free look
period”.
Loan :
Loan is permissible under the policy after it requires a paid up value. The terms and
conditions of the loan and the rate of interest applicable will be as fixed by the
Corporation from time to time. At present, the rate of interest is 10.5% p.a
compounding half yearly.
Grace Period :
A grace period of 1 month but not less than 30 days will be allowed for payment of
yearly, half yearly or quarterly premiums. If the premium is not paid before the
expiry of the days of grace, the Policy will be lapsed.
Revival :
Subject to production of satisfactory evidence of good health, a lapsed policy can be

revived by paying arrears of premium together with interest within a period of 5
years from the due date of first unpaid premium. The rate of interest at present is
9%.
LOYALTY ADDITIONS
Only loyalty additions will be declared under the plan. The minimum term after
which a policy can earn loyalty addition will be 10 years. However, Loyalty additions
will also be payable if death occurs in the 10th year of the policy provided that the
policy is in force at the time of death. Loyalty additions will be subject to
Corporations experience, and may be paid incase of death, maturity and surrenders.
ELIGIBILITY CONDITIONS AND OTHER RESTRICTIONS

55
Age at entry : Minimum 12 years (completed) and maximum 60 years nearest

birthday.
Age at maturity: Maximum 70 years.
Term : All terms from 10-35 years.
Premium : Minimum premium of Rs.250 per month for entry age upto 49 years and
Rs.400 per month for entry age 50 years and above. The premium shall be in
multiple of Rs.50 per month.
Mode : Yearly, Half yearly, Quarterly and Monthly under Salary Saving Scheme.
Incase of term rider, minimum and maximum age of entry will be 18 and 50 years
respectively. Further minimum sum assured will be Rs.1 lakh.
REBATES FOR MODE OF PREMIUM PAYMENT AND HIGH SUM ASSURED
Mode rebate : 2% for yearly mode and 1% for half yearly mode. There are no
rebates for quarterly and SSS mode.
EXCLUSIONS
This policy shall be void if the Life Assured commits suicide (whether sane or insane
at the time) at any time or after the date on which the risk under the policy has
commenced but before the expiry of one year from the date of acceptance of risk.
In case of death due to suicide during this period, the corporation will not entertain
any claim by virtue of this policy except to the extent of a third party’s bona-fide
beneficial interest acquired in the policy for valuable consideration of which notice
has been given in writing to the office where this policy is serviced, at least one
calender month prior to death.
NEW BIMA GOLD

Features
It is a plan where premiums paid over the term of plan are paid back during the
policy term in instalments and life insurance cover is available not only during the
term but also during the extended term of the plan.
Premiums can be paid regularly at yearly, half-yearly, quarterly or monthly intervals

or through salary deductions over the policy term.
56
Age
Annual
Premium per
1000 SA
12
16
20
15
63.30
55.20
40.40
20
64.25
56.00
41.20
25
65.20
57.00
42.30
30
66.90
58.80
44.20
35
71.05
62.40
47.55
40
78.10
68.10
52.75
45
88.45
76.45
60.15
50
103.30
88.10
-
55
121.80
-
57
BIMA NIVESH 2005
Bima Nivesh 2005 is a plan with compound rate of guaranteed additions and loyalty
additions. This is the revised version of our popular Bima Nivesh Plan 2004 and is
introduced to meet the overwhelming demand for a single premium plan from our
customers. It is a single premium, ideal investment plan for those who have no
regular income but good periodical income. Bima Nivesh 2005 is available for terms
5 and 10 years. The guaranteed surrender value is payable after the policy has run
for at least one year. Term Assurance Rider is also available by payment of a single
premium at the option of the proposer.
Benefits
• Guaranteed Additions : Guaranteed additions at the compound rate of

Rs.50 per thousand Sum Assured per annum for the policy with term of 5
years and at the compound rate of Rs.55 per thousand Sum Assured per
annum for the policy with term of 10 years.
• Loyalty Addition : Depending upon the Corporation's experience with
regard to mortality, interest and expenses and based on term of the policy,
Loyalty addition, if any, may be declared by the corporation and paid on
maturity.
• Maturity Benefit : The Basic Sum Assured along with compounded
Guaranteed Additions will be payable. Note : Loyalty addition, if any, will
also be added to this benefit.
• Payment on death : In case of the unfortunate death of the Life Assured
during the term of the policy, Sum Assured along with the accrued
guaranteed additions will be payable.
• Surrender Value : Surrender value is payable after the policy has run at
least for one year.
• Riders : Term Assurance rider is available.
Eligibility
For the Main

Plan
Term Assurance
Option
Min. Age at entry

13 years
completed
18 years
completed
Max. Age at entry

70 years
50 years
Max. Maturity Age

75 years
58
JEEVAN MADHUR
Introduction:
It is a simple savings related life insurance plan where you may pay premiums
regularly
at weekly, fortnightly, monthly, quarterly, half-yearly or yearly intervals over the
term
of the policy.
Minimum instalment premium for different modes of premium payment shall be:
Weekly:
Rs. 25/-
Fortnightly:
Rs. 50/-
Monthly:
Rs. 100/-
Quarterly/Half-yearly/Yearly:
Rs. 250/-
Further, the premium chosen by you shall be subject to the minimum and maximum
sum assured of Rs. 5,000/- and Rs. 30,000/- respectively payable on death and
maturity under this plan.
Benefits
Maturity Benefit: On your surviving to the date of maturity, payment of the

Maturity Sum Assured along with vested bonuses, if any.
The specimen Maturity Sum Assured per Rs. 1200/- annual premium are given
below for some of the decennial ages and terms:
59
Age at Entry
Policy Term
5 years
10 years
15 years
20
5089
11219
18561
30
5081
11173
18396
40
5026
10910
17572
50
4847
10066
14884
Death
Benefit: Payment of an amount equal to total premiums payable during the entire
term of the policy along with vested bonuses, if any.
Accidental Death and Disability Benefit: On death arising as a result of accident

an additional amount, equal to Death Benefit Sum Assured shall be available during
the term of the policy.
On total and permanent disability arising due to accident (within 180 days from the
date of accident), the Accident Benefit will be payable in monthly instalments spread
over 10 years. If the policy becomes a claim either by way of death or maturity
before the expiry of the said period of 10 years, the disability benefit instalments
which have not fallen due will be paid along with the claim.
unable to carry out any work to earn the living. Following disabilities due to
60
accidents are covered:
a) irrevocable loss of the entire sight of both eyes, or

b) amputation of both hands at or above the wrists, or
c) amputation of both feet at or above ankles, or
d) amputation of one hand at or above the wrist and one foot at or above the ankle
Auto-Cover Facility: If at least two full years’ premiums have been paid in respect
of this policy, any subsequent premium be not duly paid, full death cover shall
continue from the due date of First Unpaid Premium(FUP) for a period of two years
or till the end of policy term, whichever is earlier.
During the Auto Cover Period, the Accident Benefits shall not be available.
Participation in Profits of the Corporation: Simple Reversionary Bonuses shall

be declared per thousand Death Benefit Sum Assured annually at the end of each
financial year depending upon the Corporation’s experience, provided the policy is in
full force.
In case of a paid up policy bonuses shall be payable only if at least 3 full years’
premiums have been paid.
On surrender, the discounted value of vested bonuses, if any, will be payable.
Paid-up Value: If after at least two full years’ premiums have been paid in respect
of this policy, any subsequent premium be not duly paid, this policy shall not be
wholly void, but shall subsist as a paid up policy and the Sum Assured shall be
reduced to a sum, called the paid-up value. The Paid up Sum Assured shall be
calculated as the Maturity Sum Assured multiplied by the ratio of number of
premiums actually paid to the total number of premiums originally stipulated for in
the policy. This paid up value along with vested bonuses, if any, shall be payable on
the date of maturity or at Life Assured’s prior death.
The Accident Benefit will cease to apply if the policy is in lapsed condition.
Surrender Value: You may surrender the policy for cash after at least two full
years’ premiums have been paid. The Guaranteed Surrender Value is equal to 30
per cent of the total amount of premiums paid. Corporation may, however, pay
special surrender value as the discounted value of Paid up sum assured and vested
bonus, if any, as applicable on date of surrender, provided the same is higher than
guaranteed surrender value.
Grace Period: A grace period of one calendar month but not less than 30 days will
be allowed for payment of yearly or half-yearly or quarterly premiums and 15 days
for monthly or fortnightly or weekly premiums.
Revival: Subject to production of satisfactory evidence of continued insurability, a

lapsed policy can be revived by paying arrears of premium together with interest
within a period of five years but before maturity from the due date of first unpaid
premium. The rate of interest applicable will be as fixed by the Corporation from
61
time to time.
Cooling-off period: If you are not satisfied with the “Terms and Conditions” of the
policy you may return the policy to us within 15 days.
Exclusions: If the Life Assured commits suicide (whether sane or insane at that
time) within one year from the date of commencement of risk under the Policy, the
Corporation shall not entertain any claim except to the extent of a third party’s
interest under the policy.
The Corporation shall not pay the accidental benefit in case accidental death/
disability arises due to following reasons:
(i) intentional self injury, attempted suicide, insanity or immorality or whilst the Life
Assured is under the influence of intoxicating liquor, drug or narcotic; or
(ii) injuries resulting from riots, civil commotion, rebellion, war (whether war be
declared or not), snake biting, invasion, hunting, mountaineering, steeplechasing or
racing of any kind; or
(iii) the Life Assured committing any breach of law
ELIGIBILITY CONDITIONS AND OTHER RESTRICTIONS

18 years (completed)

60 years (nearest birthday)
Maximum age at maturity

65 years (nearest birthday)
Term
5 to 15 years.
Minimum Sum Assured

Rs. 5,000
Maximum Sum Assured

Rs. 30,000
11.PLANS FOR HIGH NET WORTH INDIVIDUALS

62
NEW JEEVAN SHREE I

63
Suitability
• Here’s an exclusive policy for people with an exclusive lifestyle. Whether

you’re a professional, industrialist, estate owner, NRI, film star, a keyman in
an enterprise or an individual successful in your own area of work. This is a
policy that offers insurance protection match your profile.
Salient Features
• Life insurance cover continues for a longer term even after premium paying
term
• Apart from the basic Sum Assured payable at maturity or death, the policy
also provides for a guaranteed addition at the rate of Rs.50/- per thousand
Sum Assured per year for first 5 years and reversionary bonus thereafter.
Premium Paying Terms

64
Policy Term
Premium Paying terms

limited to
5 years
1, 2 or 3
10 years
1, 2, 3, 4 or 6
15 years
1, 2, 3, 4, 6, 8 or 10
20 years
1, 2, 3, 4, 6, 8, 10 or 12
25 years
1, 2, 3, 4, 6, 8, 10, 12 or
16
Benefits
Maturity Benefits: Payment of basic Sum Assured together with accrued

65
Guaranteed Additions and accrued bonuses, if any will be paid to the policyholder on
surviving the term of the policy provided the policy is in full force for full sum
assured.
Death Benefit: On death of the Life Assured during the term of the policy the basic
Sum Assured along with accrued Guaranteed Additions and accrued bonuses, if any,
will be paid, provided the policy is in full force for full sum assured.
Guaranteed Additions: Guaranteed Additions @ Rs. 50 % 0 Sum Assured for each

completed year, for the first five years.
Participation in profits: From the 6th year onwards policyholder shall be entitled
to receive bonuses declared as per the experience of the Corporation.
Free Disability Benefit: In case of total and permanent disability arising due to
accident within 180 days of the accident, disability benefit will be available under
the plan upto an assurance of maximum Rs. 20000 under all the policies taken
together. The payment of future premiums upto an assurance of Rs. 20000 would
also be waived in such cases. (All conditions applying to disability due to accident
shall apply to this benefit)
Grace Period: 30 days for premium payment .
15-days Cooling-off period: If not satisfied, return of policy permissible within 15

days.
Revival : The policyholder can revive his lapsed policy within a period of 5 years
from the date of first unpaid premium by paying arrears of premium together with
interest to be decided by corporation from time to time subject to satisfactory
evidence of health. The present rate of interest is 9% p.a. Payable half yearly.
Paid-up value: The policy will acquire paid-up value after at least one full year’s
premium has been paid wherever the premium paying term is 10 years or less. For
premium paying terms of more than 10 years the policy will acquire paid-up value
after 2 full years premiums have been paid.
Guaranteed Surrender Value (GSV) : This policy can be surrendered for cash
after completion of three policy years.
The Guaranteed Surrender Value in case of single premium policy will be 90% of the
premium paid excluding all extra premiums, premium for the term assurance option
and accident benefit premium, if any. The Guaranteed Surrender Value allowable
under the policy (other than single premium) will be equal to 30% of the total
amount of premiums paid excluding the premiums for the first year and the extra
premiums for the Term Assurance Option and Accident Benefit, if any.
The cash value of any existing vested Guaranteed Additions and vested bonuses, if
any, will also be allowed.
Term Assurance Rider

Term Assurance as optional rider will be available under this plan. Premiums for this
option are payable during the Premium Paying Term and an amount equal to the
66
Term Assurance Sum Assured will be payable on death during the Policy term. The
premium rates for this option will be payable separately.
Accidental Death & Disability Benefit

Accident benefit will be available under the plan upto a maximum of Rs.25 lakhs
(inclusive of all other life insurance plan) subject to payment of additional premium.
An additional amount equal to the accident benefit sum assured is payable on death.
In case of total and permanent disability arising due to accident (within 180 days)
this amount is paid over a period of 10 years in monthly installment.
The disability due to accident should be total and such that person is unable to
carry out any work to earn the living. Following disabilities due to accident are
covered –
a) Irrevocable loss of the entire sight of both eyes or
b) amputation of both hand at or above the wrists or
c) amputation of both feet at or above ankles or
d) amputation of one hand at or above the wrist and one foot at or above the ankle.
No benefit will be paid in case of accidental death or disability due to accident in

case of
a) Intentional self-injury, attempted suicide, insanity, or immorality or the life
assured is under the influence of intoxicating liquor, drugs or narcotics
b) Engagement in aviation or aeronautics other than that of a passenger in any
aircraft
c) Injuries resulting from riots, civil commotion, rebellion, war, invasion, hunting,
mountaineering, steeple chasing or racing of any kind
d) Accident resulted from committing any breach of law
e) Accident arising from employment in armed forces or military services or police
organisation.
Age Proof:
Only standard age proof will be accepted under this plan.
Rebate - For Mode of Premium Payment:

Yearly ... 2% of tabular premium
Half-Yearly ... 1% of tabular premium
Quarterly ... Nil
Sum Assured Rebate:

Rs.50 lacs and above Rs.0.50 per thousand
In case of regular Premium Rs.2 per thousand
Sum Assured rebate at this level will also be allowed under Single Premium.
Loan:
Loan is permissible subject to usual terms and conditions. However, the rate of
interest would be determined from time to time. The rate to start with will be 10.5%
p.a. payable half yearly
67
Eligibility & Other Conditions

68
For the Main Plan
Term assurance
18 years
18 years
65 years
50 years
Maximum maturity age
75 years
60 years
Policy Term
Min 5 Yrs to max 25 Yrs
Sum assured
Rs 5 lakhs and thereafter

in multiples of Rs.1 lakh
Min. Sum Assured -

Rs.1,00,000
Max. Sum Assured -
An amount up to the
basic Sum Assured for
Term Assurance subject
to a maximum of Rs.25
lakh overall Option limit,
under all policies of the
69
JEEVAN PRAMUKH
In every organization, there are a few key people who play a vital role in its
working and profitability. Losing these key employees could have an impact
on the future and profits of the organization. LIC’s JEEVAN PRAMUKH, is a
Keyman Insurance Plan which would provide the much needed protection
to your Company against such unfortunate loss.
BENEFITS:
Guaranteed Additions: Guaranteed Additions @ Rs.50%o Sum Assured for each

completed year, for the first five years.
Participation in profits : The policy shall participate in profits of the Corporation

from the 6th year onwards and shall be entitled to receive bonuses declared as per
the experience of the Corporation.
Maturity Benefit: Sum Assured together with accrued Guaranteed Additions and
accrued simple reversionary bonuses and Final Additional Bonus, if any, will be paid
to the Policyholder on surviving the term of the policy provided the policy is in full
force for full sum assured.
Death Benefit: On death of the Life Assured during the term of the policy an
amount equal to the Sum Assured along with accrued Guaranteed Additions and
accrued Simple Reversionary Bonuses and Final Additional Bonus, if any, will be paid
provided the policy is in full force for full sum assured.
Grace Period
A grace period of 30 days will be available for payment of yearly, half-yearly or

quarterly premiums and 15 days for monthly premiums.
15 – days Cooling-off period
If you are not satisfied with the “Terms and Conditions” of the policy you may return
the policy to us within 15 days.
Paid-up Value
The policy will acquire paid-up value after more than one year’s premiums have
been paid subject to Terms and Conditions.
Guaranteed Surrender Value
This policy can be surrendered for cash after more than one year’s premiums have
been paid.
The Guaranteed Surrender Value allowable under the policy will be equal to 30% of
the total amount of premiums paid excluding the premiums for the first year and
the extra premiums, if any.
The cash value of any existing vested Guaranteed Additions and vested simple
70
reversionary bonuses, if any, will also be payable after completion of 3 years.
Revival
The policyholder can revive his lapsed policy by paying arrears of premium together
with interest within a period of five years from the date of first unpaid premium
subject to satisfactory evidence of health and continued insurability of the Life
Assured. The rate of interest will be as determined by the Corporation from time to
time. Currently, the rate of interest is 9% p.a.
Loan:
Subject to Terms and Conditions loan is permissible after the policy has acquired
paid-up value. The rate of interest charged on such loan amount would be
determined from time to time. The present rate is 10.5% p.a. payable half-yearly.
Payment of premium : Premiums under this policy are payable over a

period of 3, 4 or 5 years. The following modes of payment of premium are
allowed - Yearly, Half-yearly, Quarterly or Monthly.
Policy Term: 5, 10, 15, 20 or 25 years
ELIGIBILITY CONDITIONS AND OTHER RESTRICTIONS:
(a) Minimum Age at entry - 18 years completed
(b) Maximum Age at entry - 65 years (age nearer birthday)
(c) Maximum Maturity Age - 75 years (age nearer birthday)
(d) Policy Term - 5, 10, 15, 20 or 25 years
(e) Sum Assured - Minimum Rs.10 lakh. Thereafter in
multiples of Rs.1,00,000
Rebate for Mode of Premium Payment:
Yearly … 2% of tabular premium
Half-Yearly … 1% of tabular premium
Quarterly … Nil
Monthly … 5% extra of tabular premium
Sum Assured Rebate:

71
Up to and including Rs.50 lakh: Nil
Above Rs.50 lakh: Rs. 0.50 per thousand Sum Assure
12 DECREASING TERM ASSURANCE TO COVER HOME LOAN REPAYMENT
MORTGAGE REDEMPTION
The Mortgage Redemption Assurance policy (without profits) plan is designed to
meet the requirements of the policy holding individual who seeks to ensure that all
his outstanding loans and debts are automatically paid up in the event of his
demise.
Under the Mortgage Redemption Assurance policy (without profits)
The proponent will have to bear the cost of the mandatory medical examination.
The policies are usually issued only to male lives aged 50 years or lesser.
The policies are subject to a condition that the insurance cover would not extend
beyond 65 years. All loans must be liquidated by the time the borrower attains the
age of 65.
The policies bear no surrender value.
Suitable For: Middle-aged to elderly professionals whose dependents might need

assistance in clearing their debts in case of their unexpected demise are most suited
for the Mortgage Redemption Assurance policy.
Benefits
Survival benefits: Nil
Death Benefit : All outstanding loans declared at the beginning of the financial
year would be payable as per the prepared schedule.
72
Minimum
Maximum
Entry age (Years)

20
50
Sum assured (Rs.)

50000(except for
single premium)
1000000
Term (Years)
-
-
Mode of Payment
Maximum Maturity
age
Policy loan
available
Yearly, Half-
yearly,Quarterly,
Monthly, Salary
Saving Scheme
65 years
No

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1

ENG (Fashion Technology)

Skills & attributes

Designers are involved in:

Manufacturing is an important area of work in the fashion industry. It includes:

• Purchase of textiles and fabrics

Public Relations is defined as 'the deliberate, planned and sustained effort to

ORGANISATINAL BEH (PROMOTION STRATEGIES)

• Sum assured is payable only on the death of the life assured

• Sum assured + vested bonuses are payable to nominees/beneficiaries on

• Minimum sum assured : Rs 20000

WHOLE LIFE LIMITED PLAN

• Sum assured is payable only on the death of the life assured

• Sum assured + vested bonuses are payable to nominees/beneficiaries on

• Minimum sum assured :

• Maximum age at entry : 60 years

• Minimum age at entry : 12 years

• Mode of Payment : Single Premium

ELIGIBILITY CONDITIONS FOR THIS PLAN:

ELIGIBILITY CONDITIONS FOR ACCIDENT BENEFIT RIDER (Allowed under

REBATES/EXTRA FOR MODE OF PREMIUM PAYMENT AND HIGH SUM

• High Sum Assured Rebates:

2. TERM ASSURANCE PLANS

• Full sum assured + loyalty additions

• Minimum age at entry : 18 years

TEMPORARY TERM ASSURANCE

• Total Sum Assured

• Minimum age at entry : 18 years

• Mode of Payment : Single Premium

On Death during the Term of the Policy : Sum Assured

Minimum age at entry

:18 years (completed)

Maximum age at entry

Maximum age at maturity

Minimum Policy Term

Maximum Policy term

Minimum Sum Assured

Maximum Sum Assured

(Policies will be issued in

Mode of premium payment

• Large Sum Assured Rebates

A rebate of Rs.0.25 %o Sum Assured will be allowed under Single Premium

• Rebate for Corporation Employees

UNDERWRITING, AGE PROOF AND MEDICAL REQUIREMENTS

• Proposals will be considered on the basis of Medical Reports and Special

• Cost of medical examination (including Special reports, if any) will be borne

• For the purpose of SUC and underwriting (Special Reports, Financial

PAID UP AND SURRENDER VALUE

• The policy will not acquire any paid-up value.

GRACE PERIOD FOR NON-FORFEITURE PROVISIONS

A grace period of 15 days will be allowed for payment of yearly or half-yearly

REVIVAL (For policies with Regular Premium)

Revival of lapsed policies can be considered with the following requirements:

Period from First Unpaid Premium

61 days and above

purposes of revival of the policy, shall be borne by the Life Assured.

The reinsurance rules will be as applicable to term assurance plans.

• Payment of full sum assured + Vested Bonus

• Payment of full Sum Assured + Vested Bonus + Final Additional bonus, if

• Minimum age at entry : 12 years

• Mode of Payment : Monthly, Quarterly, Half Yearly, Yearly, Salary Saving

due to an accident. This benefit is built in and no additional premiums needs

On Death within the term: