LIC’S Jeevan VLIC’S Jeevan Vaibhavaibhav(Plan No. 809)(Plan No. 809)

FeaturesFeatures • Single premium non-linked plan

• Payment of Guaranteed Sum Assured along with Loyalty Addition, if any, on maturity or death.

• Close ended plan which would be open for sale from 21st May, 2012 for a maximum period of 120 days.

• Option for backdating is also available

EligibilityEligibility Minimum Age at Entry for LA 8 years (completed)

Maximum age entry for LA 65 years (nearest birthday)

Mode of premium payment Single premium

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

Maximum Sum AssuredNo Limit

( in multiples of Rs 10,000)

Policy Term 10 yrs

Benefits payable on maturity

Assured maturity benefit =

SumAssured

+ Loyalty Addition, if any

Benefits payable on deathIf life assured dies during the policy term

except in the last policy year Sum Assured shall be payable

If life assured dies during the last policy year Sum Assured along with Loyalty Addition, if any, shall be payable

Surrender ValueSurrender Value

Guaranteed Surrender ValueAvailable after completion of atleast 1 policy year and is equal to 90% of the premium paid excluding extra premium, if any

Surrender ValueSurrender Value

Special Surrender Value Payable, if it is more favorable to the policyholder.

The SSV will be the discounted value of the Sum Assured. The discount factors shall be the special surrender value factors used for Endowment Assurance plan, which will depend on the duration elapsed since commencement of the policy.

The SSV factors per Rs. 100 Basic Sum Assured for duration 1 and 1.5 years are 44.52 and 45.97 respectively.

Loans

Loan available after completion of one policy year subject to a maximum of 70% of Surrender Value.

The rate of interest - 10.25% p.a. compounding half-yearly and the same would be subject to review from time to time by the Corporation.

No foreclosure action applicable under this plan even if there is a default in payment of loan interest

Commission for agents

2% of the Single Premium received

Important - Service Tax

Under this plan, the amount of service tax as per the prevailing rates shall be payable by the policyholder on single premium including extra premium, if any.