Page 19 - Life Insurance Today OCTOBER 2017

LIC's JEEVAN

UTKARSH

(UIN:512N313V01)

(A non-linked, with-profit, single premium life
insurance plan)
from Life Insurance Corporation of India

LIC's Jeevan Utkarsh offers a combination of Y 125% of the single premium, or
protection and savings wherein the risk cover is ten times Y Guaranteed Sum Assured on Maturity i.e. Basic Sum
of Tabular Single premium. The proposer will have an Assured, or
option to choose the Basic Sum Assured. The single
Y "Absolute amount assured to be paid on death" i.e.
premium payable shall depend on the chosen Basic Sum 10 times of Tabular Single Premium
Assured and age at entry of the life assured.
Tabular single premiums mentioned above shall not
In addition, this plan also takes care of liquidity need include any extra amount if charged under the policy due
through loan facility.
to underwriting decision or taxes and is before applying
any rebate for high Basic Sum Assured.
It is a close ended plan which shall be available for sale
for a maximum period of 270 days from the date of launch.
b) Maturity Benefit:
"Sum Assured on Maturity" along with Loyalty Addition, if
1. Benefits: any, shall be payable.Where, "Sum Assured on Maturity"
a) Death Benefit: is equal to Basic Sum Assured.
On death during first five policy years:
c) Loyalty Addition:
Before the date of commencement of risk: Refund of single
premium without interest. Depending upon the Corporation's experience the policies
under this plan shall be eligible for Loyalty Addition at the
After the date of commencement of risk: "Sum Assured time of exit after completion of five policy years in the
on Death" shall be payable.
form of Death during the policy term or Maturity, at such
Single Premium mentioned above shall not include any rate and on such terms as may be declared by the
taxes, extra premium chargeable under the policy due to Corporation.
underwriting decision and rider premium, if any.
In addition, Loyalty Addition, if any, shall also be considered
On death after completion of five policy years but before
in Special Surrender Value calculation on surrender of
the stipulated Date of Maturity:
policy during the policy term, provided the policy has
"Sum Assured on Death" along with Loyalty Addition, if completed five policy years.
any, shall be payable.
2. Optional Benefit:
Where "Sum Assured on Death" is defined as the highest
of The policyholder has an option of availing LIC's Accidental

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Life Insurance Today October 2017 19

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