LIC- Jeevan Amrit

LIC's Jeevan Amrit is most suitable for such persons (particularly for younger ones) who want to have high cover at a low cost & also who do not want commitment to pay premiums for a longer duration. Under this plan premium payment is limited to 3 or 4 or 5 years and the premium payable during the first year is higher than the premiums payable in subsequent years.

Options
You may choose Sum Assured (S.A.), Premium Paying Term, Policy Term and Mode of premium payment.
Payment of Premiums
You may pay premiums yearly or half-yearly during the premium paying term of 3 or 4 or 5 years.

Benefits
Death Benefit :
An amount equal to Sum Assured along with vested Simple Reversionary Bonuses and Final (Additional) Bonus (if any) is payable in lump sum immediately on death of the Life Assured during the term of the policy.

Maturity Benefit :
Payment of total amount of premiums (excluding extra premiums, if any) paid along with vested Reversionary Bonuses and Final (Additional) Bonus, if any, in case of Life Assured surviving to the end of the term.

Eligibility Conditions

Minimum Entry Age	12 years (last birthday)
Maximum Entry Age	60 years (nearest birthday)
Maximum Maturity Age	70 years (nearest birthday)
Minimum Sum Assured	Rs. 1 Lac
Maximum Sum Assured	No limit
Premium Paying term	3 to 5 years
Policy term	10 to 30 years

Premium Rates :
The total premium rates per Rs. 1000/- S.A. for some of the ages/ terms are as under:

Premium Paying Term= 3 years

Age	Policy Term
	10 Yrs		20 Yrs		30 Yrs
	1st yr	Subsequent yr	1st yr	Subsequent yr	1st yr	Subsequent yr
15	56.2	28.1	40.15	20.1	36.9	18.45
25	61.1	30.55	46.7	23.35	48.05	24.05
35	76.05	38.05	69.25	34.65	78.25	39.15
45	127	63.5	125.65	62.85	-	-
55	220.4	110.2	-	-	-	-
65	279.75	139.9	-	-	-	-

Premium Paying Term= 4 years

Age	Policy Term
	10 Yrs		20 Yrs		30 Yrs
	1st yr	Subsequent yr	1st yr	Subsequent yr	1st yr	Subsequent yr
15	62.8	19.35	43.6	13.45	39.75	12.25
25	68.1	20.95	50.6	15.6	51.5	15.85
35	84.15	25.9	74.5	22.95	83.35	25.65
45	138.85	42.75	134.2	41.3	-	-
55	238.75	73.5	-	-	-	-
65	301.9	92.9	-	-	-	-

Premium Paying Term= 5 years

Age	Policy Term
	10 Yrs		20 Yrs		30 Yrs
	1st yr	Subsequent yr	1st yr	Subsequent yr	1st yr	Subsequent yr
15	88.8	22.2	50.05	12.55	43.45	10.9
25	95.75	23.95	57.85	14.5	56	14
35	116.35	29.1	84.15	21.05	89.85	22.5
45	183.6	45.9	148.9	37.25	-	-
55	296.55	74.15	-	-	-	-
65	361.45	90.4	-	-	-	-

Mode and High Sum Assured Rebates:

Mode Rebate :
Yearly mode	2% of Tabular Premium
Half-yearly mode	NIL

Be Assured Rebate

Rebate Per Rs 1000 Sum Assured (Rs)
	Premium Paying Term (3 Yrs)		Premium Paying Term (4 Yrs)		Premium Paying Term (5 Yrs)
	1st yr	Subsequent yr	1st yr	Subsequent yr	1st yr	Subsequent yr
Less than Rs 2 Lacs	Nil	Nil	Nil	Nil	Nil	Nil
Rs 2 lacs & above but less than 3 Lacs	7.5	3.75	7.5	2.5	7.5	1.85
Rs 3 lacs & above but less than 5 Lacs	10	5	10	3.3	10	2.5
Rs 5 lacs & above but less than 10 Lacs	12.5	6.25	12.5	4.15	12.5	3.1
Above Rs 10 Lacs	15	7.5	15	5	15	3.75

Grace Period
A grace period of one month but not less than 30 days will be allowed for payment of premiums.

Participation in the Profits of the Corporation
This is a with-profit plan and your policy shall participate in the profits of the Corporation at the end of each financial year. Simple Reversionary Bonuses shall be declared at the rate of per thousand total amount of premiums (excluding any extra premium) paid. Reduced paid-up policies shall also participate in the profits. Final (Additional) Bonus may also be declared provided all premiums have been paid and policy has run for certain minimum term.

Paid-up Value
If at least one full year's premiums have been paid and any subsequent premium be not duly paid, the Policy shall not be wholly void, but the Sum Assured shall be reduced to such a sum, called the Paid-up Sum Assured, and will be equal to the total amount of premiums paid (excluding any extra premium). The policy so reduced shall thereafter be free from all liabilities for payment of the within mentioned premium, but shall participate in the future profits of the Corporation declared in the form of simple reversionary bonuses payable at the rate of per thousand total amount of premiums paid (excluding any extra premium). The existing vested reversionary bonuses, if any, shall also remain attached to the reduced paid-up policy.

In the event of death of Life Assured during the policy term, the reduced Paid-up Sum Assured as defined above, along with vested reversionary bonuses, if any, shall be payable. Provided the Life Assured is then alive, the vested bonuses and the reduced Paid-up Sum Assured as defined above shall be payable at the end of the policy term.

If after at least one full year's premiums have been paid in respect of this policy any subsequent premium be not duly paid, in the event of death of the Life Assured within six months from the due date of first unpaid premium, the benefits will be paid as if the Policy had remained in full force after deduction of (a) the premium or premiums unpaid with interest thereon until the date of death, and (b) the unpaid premiums falling due before the next Policy anniversary.

Revival
If the policy has lapsed, you can renew it by paying amount overdue of premium together with interest (rate fixed from time to time) within a period of five years, subject to the production of satisfactory evidence of continued insurability.

Surrender Value
You may surrender the policy for cash after completion of at least one policy year provided premiums for one full year have been paid.

Higher of the following two will be payable in that case :
1. Guaranteed Surrender Value being 30% of the total amount of premiums paid, excluding extra premium, if any, and
2. Special Surrender value being the discounted value of Paid-up Sum Assured.
Cash value of any existing vested bonuses will be paid in addition.
Loan
You may avail loan within the surrender value at the rate and terms determined from time to time by the Corporation.
Nomination
You may nominate a person to receive policy money on death as per Section 39 of Insurance Act 1938.
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
Suicide is excluded for first year. No other exclusions.