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LIC’s Jeevan Bharati-1

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Special Money Back Plan for Women

LIC Jeevan Bharati 1 Table No.  192

Summary:

LIC’s Jeevan Bharati –I Plan no.192 has been designed exclusively for females. This is a money back plan having optional Accident Benefit, Critical Illness Benefit and Congenital Disability Benefit as Riders.

Benefits:

a) Death Benefit:
An amount equal to the Sum Assured under the basic plan along with Reversionary Bonuses, and Final Addition Bonus, if any, will be payable.

b) Survival Benefits:
Survival benefits will be payable as given below:

% Of SA under the Basic plan
Survival to end of 15-year plan 20-year plan
5 yrs 20% 20%
10 yrs 20% 20%
15 yrs
 – 20%

c) Maturity Benefit:

For policy term of 15 years: 60% of the Sum Assured under the basic plan along with vested Reversionary Bonuses and Final Additional Bonus, if any, will be payable.

For policy term of 20 years: 40% of the Sum Assured under the basic plan along with vested Reversionary Bonuses and Final Additional Bonus, if any, will be payable.

Optional Benefits:

a) Critical Illness Benefit Rider :
An amount equal to the Critical Illness Rider Sum Assured will be payable in case of diagnosis of defined categories of Critical Illness subject to certain terms and conditions, provided the Critical Illness Benefit cover is opted for and is in force. The maximum cover for this rider will be Rs.5 lakh under all policies of the Life Assured with the Corporation taken together including the new proposal under consideration. The Critical Illness Rider Sum Assured shall also not exceed the Sum Assured under the Basic Plan.

b) Accident Benefit Rider :
Accident Benefit as optional rider will be available under the plan for an amount equal to the Accident Benefit Rider Sum Assured subject to the maximum of Rs.50 lakh overall limit considering the Accident Benefit Sum Assured in respect of all existing policies on the life of the Life Assured under individual and group policies including the policies taken from Life Insurance Corporation of India and other Insurance companies and the Accident Benefit Rider Sum Assured under new proposal into consideration.

c) Congenital Disability Benefit Rider : An Amount equal to 50% of the Congenital Disability Benefit Rider Sum Assured will be payable if the Life Assured gives birth to a child with specified congenital disabilities. This benefit is payable for a maximum of 2 such congenitally disabled children.

Rs.5 lakh is the maximum limit taking all Congenital Disability Benefit Riders under all policies of the life assured including the new proposal into consideration.

Special Features:

i. Encashment of survival benefits as and when needed:
A policyholder can take the survival benefits on or after the due dates, but before the date of maturity. In case of deferment of a due survival benefit, the Corporation will pay increased survival benefit and the increment will be at such rate as decided by the Corporation from time to time compounding yearly for complete number of months, a fraction of a month being ignored. This option shall be required to be exercised six months before the due date of the Survival Benefit. To start with, the rate of increment will be 4% p.a. compounding yearly for complete number of months, ignoring fraction of a month.

ii. Flexibility to pay premiums in advance:
A policyholder will have the flexibility to pay the next yearly premium in advance (in maximum three installments). The policyholder will be eligible for a premium rebate at such rate as may be decided by the Corporation from time to time. The premium mentioned above will also include premiums for Critical Illness Rider, Congenital Disability Benefit Rider and Accident Benefit Rider, if opted for. She will be eligible for a premium rebate of 5% p.a. for complete number of months on the portion of premium paid.

iii. Option to receive maturity benefits in the form of an annuity:
The policyholder will have the option (to be exercised 6 months before the date of maturity) to receive the maturity proceeds (including bonuses) in the form of an annuity. The immediate annuity rates prevalent at the time of maturity will be applicable.

iv. Auto cover :
Provided at least two years’ premiums have been paid under a policy, full death cover will be admissible for a period of three years from the date of first unpaid premium. If death of Life Assured occurs during the Auto Cover period, then death benefit after deducting unpaid premiums, with interest will be payable along with the vested bonuses and Final Additional Bonus, if any. However, claims under the Critical Illness Rider, Congenital Disability Benefit Rider and Accident benefit will not be admissible during Auto Cover period. Further,

(a) If Critical Illness Rider is not opted for:
If any survival benefit falls due during the above 3-year auto cover period the same will be paid after deduction of unpaid premiums with interest thereon until the due date of the survival benefit, provided it is more than the unpaid premiums with interest thereon. If the survival benefit is insufficient to cover the arrears of premiums with interest thereon up to the due date of such survival benefit, then the survival benefit will be payable only on payment of such arrears of premiums with interest thereon, during the period of the aforesaid 3 years or on revival of the policy thereafter.

(b) If Critical Illness Rider is opted for:
If any survival benefit falls due during the above 3-year auto cover period the same will be paid only on revival of the policy.

Loans:
Loan facility will be available under this plan after the policy acquires paid up value. The rate of interest charged for this loan amount would be determined from time to time by the LIC Of India.

Eligibility Conditions and Restrictions Basic Plan

a) Minimum Sum Assured : Rs.50,000/-
b) Maximum Sum Assured : Rs 25,00,000/-
c) Minimum age at entry : 18 years completed.
d) Maximum age at entry : 55 years nearest birthday
e) Maximum age at maturity : 70 years nearest birthday
f) Policy Term : 15 & 20 years

The Sum Assured shall be in multiples of Rs. 5,000.

Accident Benefit Rider:
a) Minimum Sum Assured : Rs. 50,000
b) Maximum Sum Assured: An amount equal to the Sum Assured under the Basic Plan subject to the maximum of Rs.50 lakh overall limit considering the Accident Benefit Sum Assured in respect of all existing policies on the life of the Life Assured under individual and group policies including the policies taken from Life Insurance Corporation of India and other Insurance companies and the Accident Benefit Rider Sum Assured under new proposal into consideration.

The Sum Assured shall be in multiples of Rs. 5,000.
c) Minimum Entry Age : 18 years completed
d) Maximum Entry Age : 55 years nearest Birthday
e) Policy Term : 15 & 20 years
f) Maximum Maturity Age : 70 years nearest Birthday.

Critical Illness Rider:
a) Minimum Sum Assured : Rs. 50,000
b) Maximum Sum Assured: An amount equal to Critical Illness Rider Sum Assured subject to the maximum of Rs.5 lakh overall limit taking all critical illness riders under all existing policies of the life assured and the critical illness rider option under the new proposal into consideration.

The Sum Assured shall be in multiples of Rs.10,000/-.
c) Minimum Entry Age : 18 years completed
d) Maximum Entry Age : 50 years nearest Birthday
e) Policy Term : Same as basic plan or till age 60 years nearest birthday whichever is earlier. If PWB is opted for, then the term of the rider should be same as that of the term of the basic plan.
f) Maximum Maturity Age : 60 years nearest Birthday. If PWB (under the Critical Illness Rider) is opted for, then the following conditions apply:
(i) The term of all the riders opted for must be same as that of the basic plan.
(ii) The Sum Assured of all the riders opted for must be same as that of the basic plan.

Congenital Disability Benefit Rider:
a) Minimum Sum Assured : Rs.50,000
b) Maximum Sum Assured : Rs 500,000
Rs.5 lakh is the maximum limit taking all Congenital Disability Benefit Rider under all policies of the life assured including the new proposal into consideration.
c) Minimum Entry Age : 18 years completed
d) Maximum Entry Age : 35 years nearest birthday
e) Maximum Benefit Ceasing Age : 40 years nearest birthday
f) Terms allowed : Same as the basic plan or till age 40 years (nearest birthday, whichever is earlier.)
Sum Assured will be in multiples of Rs 5000 only.

Mode of Premium Payment :
Only Yearly mode of Premium Payment is allowed under Jeevan Bharati 1 plan.

Cooling off period:
If you are not satisfied with the “Terms and Conditions” of the policy, you may return the policy to Life Insurance Corporation Of India within 15 days.

The Unique Identification Number (UIN) for LIC’s Jeevan Bharati – I plan is 512N247V01.

How to Apply for LIC Of India’s Jeevan Bharati 1?
Contact your nearest Life Insurance Corporation Of India (LIC of India) Branch/ LIC Agent. Or
Fill the Application form to apply online. (Mumbai only)

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Note:
The above is the product summary giving the key features of the plan. This is for illustrative purpose only. This does not represent a contract and for details please refer to your policy document.

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Comments

  1. SirI want to ask a question reinrdgag jeevan nischay policy, I am running three policies, one for 150000 and other for 50000 and 100000 money plus how much I can invest in jeevan nischay policy. If I have deposited 50000 in a single premium for five yrs how much I should expect to get after the maturity of 5 yrs. How much loyality addition is expected after the maturity of jeevan nischay policy.

  2. how much loyalty aiodtidn on 25000 amount of policy plan 199 . lic by its advertisement said that it gives us 10% gareented return but according to u its not 10% its same as bank interest . i know that it cover risk but not give 10% according to u i have already policies of lic and i want to invest in this policy also so please solve my query whether it is better or not

  3. Hi friends,,,
    you know how difficult it is ot choose an LIC plan,,,
    do tell me your needs and i will give you the best plan
    money back, pension, lumpsum money, child career,
    marriage, business, any needs I have a plan for you
    contact: 9322168876

  4. Hello friends,

    A Relaxed Mind, A Peaceful Soul, A Joyful Spirit, A Healthy Body & Heart full of Love..All these are my Prayers for You..

    Wish you & your family a very very HAPPY DIWALI

    Friends if You have any qurey about lic plans and if u want new lic policy pls cont. me.

    my cont. no. – +91 9461416662

  5. i have information about jeevan bharati 1,in this plan lic can giving dilivery charges of child born.pls give me explain.because i will get this insurance for this perpose,help me.

  6. If anybody interested in taking LIC policy or want to know the details contact me on 8147740225. Bangalore

  7. i m planning to go for Jeevan Bharti policy what do you suggest to go for 15 yearss or 20 year. My age is 39 years

  9. i want to know about jeevan bharathi-i policy.(for female)
    if we take an policy for 15 years for Rs 50,000/- what is the maturity value we get.

  10. Sub:- Surrender of my policy No. 774725461 Jeevan bharati
    REf:- DOC 20/7/2004.

    Sir,
    I would like to surrender the aforesaid policy. It is surprised to see the statement dt. 19/3/2011 that I am only to get surrender amount of rs. 7783/- I have remitted my yearly premium as under:

    2004 – Rs. 3890/-
    2005 – Rs. 3890/-
    2006 – Rs. 3890/-
    2007 – Rs. 3890/-
    2008 – Rs. 3890/-
    2009 – Rs. 3890/-
    2010 – Rs. 3890/-
    —————
    total 27230/-
    (less amount
    disbursed by
    LIC ) (-) 10000/-
    after 5 yrs. ————–
    17,230/-

    Hence I am eligible to get the balance amount and bonus accrued if any. You are requested to kindly clarify and let me know the total surrender value I am eligible to get, at the earliest.

    • I received your SMS too. Not sure what you are referring but you will get the money periodically as per your money back plan. Let me know, if any problem.

  13. Sir,
    My policy No 434682502. Can u tell me please which type policy is this and how much i will get after maturity.

  14. hi
    Can you tell me the maturity (2015) amount of these policey 14-15 sum assured 100000, & 106-15 sum assured 50000 maturity on 2016.

  16. i want to know about jeevanbharathi policy.(for female)
    if we take an policy for 15years for Rs 50,000/- what is the maturity value we get.
    and also send the jeevan anand policy details

  18. please send me all details with application form downloadable and monthly pension for 50,000/- minimum premium for one time

  19. hi dear all
    i want joining to lic plan but i dotn know how will going to joining i am in dubai rigth now wher i get the form please advice thanks
    regard
    sayed ali

  21. Payment portals are very slow,sometimes not responding.I would ike to get new policy information via e mail

    Reethamma

  25. Hi,

    I want to take pure term plan with low premium and high risk coverage of 50lac, for 30years, and maturity benefit like LIC BHIMA KIRAN, Pls. suggest

  26. Hi!
    I am to request you to pls update me on loyalty / terminal bonus for following:
    1. 20 yrs moneyback
    2. ashadeep 110-25
    3. ashadeep ii 121-25
    4. bimakiran 111-28
    at lic website couldn’t find any final bonuses on these,
    what’s the way out in case of such drastic bonus reductions?
    thanks/regards
    ajay

  28. please give detail of diseases cover of jeevan bharati 1 plan & selling technique of jeevan bharati 1

  34. I want to know the premium of 5lac sum assured amount in
    age group 28 year for 15 or 20 years term in Jeevan Bharti Plan.

  35. sir

    i abhishek kumar pandey

    and i want to know about accidental benifit of the policy and how to calculate premium

  36. i want to know the status of my policy in LIC unit no. 113?
    POLICY NO. 116202836

  37. I want to know the status of “LIC’s Jeevan Madhur-With Profits” policy of Sh. Roshan Lal. Policy started w.e.f. October 2009 but no policy no. alloted. Agent code is 00083. Kindly take action about this and sent to my mail id i.e. [email protected] please.

    • Your policy number is mentioned on your premium receipt. Check it and apply for duplicate bond paper or contact your LIC agent.

  38. My policy No. 61048712
    For Rs.20,000/- Date of maturity is 8-3-2010
    Branch code 602, N.R.Square branch
    Registered on 8-3-1990

    My complaint is that I did not get my matured policy details or any information regarding the deduction of policy money from my salary.

    Why this is so
    nagaiah.hr

    • You should have filled the ECS form while applying for the policy. Please get in touch with your LIC Agent.

  40. Please inform me about Bima Kiran Policy which i have taken 15 years ago vide T/T 111-25
    Goutam Chaudhury

  41. I am taken a policy 15 years ago namely Bima Kiran under T/T 111-25. Please let me know the benefit and maturity procedure.
    Goutam Chaudhury

  42. Sir my policy no is 230626232 made in dec 1999 i have received only one cheque till date as money back when i will get second cheque.

  43. I had Taken a policy from L.I.C Akbarpur Distt Ambedkarnagar branch as present I am setteled in Delhi. how it is possible to get my policy transfer

  46. I am a housewife. I want to take Jeevan Bharti Insurance plan for women. I have received the information and risk cover quotation. If I buy Jeevan Bharati in Bhopal, will I be able to transfer it to Mumbai?

  47. I want to buy this policy. What will be my premium for 10,00,000 policy. What are my options other than Jeevan Bharati?

    Anu