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LIC has categorized its products into various groups:

6 Insurance Plans
6 Pension Plans
6 {nit Plans
6 ’pecial Plans
6 ©roup ’cheme

 
  

LIC understands that each individual is different from others and also their needs and requirements are
not the same. This applies even to their insurance and other financial needs. LIC as such has designed
various products which can be customised according to individual's needs and helps the policy holders to
choose the best product for themselves. {nder individual plans further sub categories have been created.

   

6 LIC-Jeevan Anurag
6 LIC-CDA Endowment Vesting At 21
6 LIC-CDA Endowment Vesting At 18
6 LIC-Jeevan Kishore
6 LIC-Child Career Plan
6 LIC-Marriage Endowment Or
6 LIC-Educational Annuity Plan
6 LIC-Komal Jeevan
6 LIC-Jeevan Chhaya
6 LIC-Child Future Plan

Π  


6 LICJeevan Aadhar
6 LICJeevan Vishwas

 
  

6 LIC-The Endowment Assurance Policy

6 LIC-The Endowment Assurance Policy-Limited Payment 
6 c     

 

The benefits of this policy are considered normally for standard and substandard lives Class I and II. It
cannot be allowed for people engaged in hazardous occupations. Female lives under Category I & II
allowed. Non-medical special is allowed only if the ’um Assured does not exceed Rs.1,00,000/- Besides
the usual benefits offered by any endowment insurance plan, this policy provides for an additional
insurance cover equal to the sum assured in the event of a policy holder¶s death during the term of the
policy. In other words, the death claim in the case of this policy is twice the basic sum assured. The
survival claim, on the other hand, is the basic sum assured, plus the accrued bonuses. Bonus is, similarly,
calculated only on the basic sum assured at rates applicable to endowment policies. For instance, if a
person insured for Rs.10,000 under this policy were to die before its maturity, the death claim payable
would be Rs.20,000 plus the accrued bonus on Rs.10,000, the basic sum assured. If the policy holder
survives the full term of the policy, the payment on maturity would be Rs.10,000 plus the accumulated
bonus.

’  
Being a high-risk endowment assurance policy, this plan is suitable for people of young ages who wish to
protect their families from a financial setback that may occur owing to their premature death. The amount
assured if not paid by reason of his death earlier will payable at the end of the endowment term where 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.

6 LIC-Jeevan Mitra(Triple Cover Endowment Plan)

6 LIC-Jeevan Anand
6 c!   "   


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This is an Endowment Assurance plan that provides financial protection against death throughout the
term of plan. It pays the maturity amount on survival to the end of the term.

 
Premiums are payable yearly, half-yearly, quarterly, monthly or through ’alary deductions, as opted by
you, throughout the term of the policy or earlier death. After at least two full years¶ premiums have been
paid, full insurance cover is available even when premiums are not paid for up to three years.

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This is a with-profit plan and participates in the profits of the Corporation¶s life insurance business. It
gets a share of the profits in the form of bonuses. ’imple Reversionary Bonuses are declared per
thousand ’um Assured annually at the end of each financial year. Once declared, they form part of the
guaranteed benefits of the plan. Final (Additional) Bonus may also be payable provided a policy has run
for certain minimum period.
6 LIC-Jeevan Amrit

  
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6 LIC-Jeevan ’hree-I
6 LIC-Jeevan Pramukh


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6 LIC-The Money Back Policy-20 Years

6 LIC-The Money Back Policy-25 Years
6 LIC-Jeevan ’urabhi-15 Years
6 LIC-Jeevan ’urabhi-20 Years
6 LIC-Jeevan ’urabhi-25 Years

6 cŒ  Œ
 

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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.

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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.


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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.


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The policy holder is insured for an amount equal to the sum assured.

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The insurance cover is irrespective of the installments received.

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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).

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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.

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The following are the requirements that one needs to be aware of before applying for this
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.

’
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LIC-Jeevan Bharati

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6 LIC-The Whole Life Policy

6 LIC-The Whole Life Policy- Limited Payment
6 LIC-The Whole Life Policy- ’ingle Premium
6 LIC-Jeevan Anand
6 LIC-Jeevan Tarang

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6 LIC-Two Year Temporary Assurance Policy

6 c) ) 
 
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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.

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 made.

Policy holders get an option of converting an policy into endowment assurance or limited payment whole
life assurance.

’
 

uor all people with earned income under Category I and unearned incomes under Category II, basically
Standard and sub-Standard lives attracting EMR classes I and II.

6 LIC-Anmol Jeevan-I
6 LIC-Amulya Jeevan (Closed)

 
  

LIC-Jeevan ’aathi


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LIC-Mortgage Redemption

   

Pension Plans helps in providing financial security to an individaul after his retirement so that they are
able to lead the same standard of life and that too without any tension.
LIC-Jeevan Nidhi
LIC-Jeevan Akshay-V
LIC-New Jeevan Dhara-I
LIC-New Jeevan ’uraksha-I

*   

{nit plans are meant for those people who aim to earn a good return on their investments and also reap
the benefits of an insurance cover. It also helps in getting tax benefit on the invested sum.

LIC-Market Plus (Closed for ’ale)

LIC-Profit Plus
LIC-Fortune Plus

’
  

LIC¶s ’pecial Plans are not plans but once in a lifetime opportunities that knocks on the door not very
often. These plans are a perfect combination of insurance and investment and provides happiness for the
lifetime.

LIC-’pecial Plans
LIC-Bima Nivesh 2005
LIC-Jeevan ’aral
LIC-Jeevan Madhur
LIC-Health Plus
LIC-©olden Jubilee Plans
LIC-New Bima ©old

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©roup Insurance ’cheme is life insurance protection to groups of people and are ideal for employers,
associations, societies etc. and allows to insurance benefits at really low costs. This helps the employers
to provide protection to employess as well their family so that they are able to work in the tension free
environment.
LIC-©roup Term Insurance ’chemes
LIC-©roup Insurance ’cheme in Lieu Of EDLI
LIC-©roup ©ratuity ’cheme
LIC-©roup ’uper Annuation ’cheme
LIC-©roup ’avings Linked Insurance ’cheme
LIC-©roup Leave Encashment ’cheme
LIC-©roup Mortgage Redemption Assurance ’cheme
LIC-©ratuity Plus
LIC-©roup Critical Illness Rider
LIC-’ocial ’ecurity ’cheme
LIC-Jana ’hree Bima Yojana
LIC-’hiksha ’hahyog Yojana
LIC-Aam Admi Bima Yojana