LIC’s JEEVAN AMRIT (Table No.

186)

Benefit Illustration:

1. Introduction:
Some people, particularly the younger ones, want to have high cover at a low
cost. Further, many of them do not want commitment to pay premiums for a
longer duration. LIC’s Jeevan Amrit is most suitable for such persons.
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.

2. Options:
You may choose Sum Assured (S.A.), Premium Paying Term, Policy Term and
Mode of premium payment.

3. Payment of Premiums :
You may pay premiums yearly or half-yearly during the premium paying term of
3 or 4 or 5 years.

4. Benefits:
A) 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.

B) 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.

5. 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 years 20 years 30 years
st st st
1 Yr. Subsequent 1 Yr. Subsequent 1 Yr. Subsequent
Yr. Yr. Yr.
15 56.20 28.10 40.15 20.10 36.90 18.45
25 61.10 30.55 46.70 23.35 48.05 24.05
35 76.05 38.05 69.25 34.65 78.25 39.15
45 127.00 63.50 125.65 62.85 - -
55 220.40 110.20 - - - -
60 279.75 139.90 - - - -
 Premium Paying Term = 4 years

Age Policy Term

10 years 20 years 30 years
st st st
1 Yr. Subsequent 1 Yr. Subsequent 1 Yr. Subsequent
Yr. Yr. Yr.
15 62.80 19.35 43.60 13.45 39.75 12.25
25 68.10 20.95 50.60 15.60 51.50 15.85
35 84.15 25.90 74.50 22.95 83.35 25.65
45 138.85 42.75 134.20 41.30 - -
55 238.75 73.50 - - - -
60 301.90 92.90 - - - -

Premium Paying Term = 5 years

Age Policy Term

10 years 20 years 30 years
st st st
1 Yr. Subsequent 1 Yr. Subsequent 1 Yr. Subsequent
Yr. Yr. Yr.
15 88.80 22.20 50.05 12.55 43.45 10.90
25 95.75 23.95 57.85 14.50 56.00 14.00
35 116.35 29.10 84.15 21.05 89.85 22.50
45 183.60 45.90 148.90 37.25 - -
55 296.55 74.15 - - - -
60 361.45 90.40 - - - -

6. Mode and High S.A. Rebates:

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

Sum Assured Rebate:

Rebate per Rs. 1000 Sum assured ( Rs.)

Sum Assured PPT 3 yrs PPT 4 yrs PPT 5 yrs

F.Y Subsequent F.Y Subsequent F.Y Subsequent
year year Year
Less than Rs 2 lacs
Nil Nil Nil Nil Nil Nil
Rs 2 lacs and above
7.50 3.75 7.50 2.50 7.50 1.85
but less than Rs 3 lacs
Rs 3 lacs and above but
10.00 5.00 10.00 3.30 10.00 2.50
less than Rs 5 lacs
Rs 5 lacs and above but
12.50 6.25 12.50 4.15 12.50 3.10
less than Rs 10 lacs
Above Rs 10 lacs 15.00 7.50 15.00 5.00 15.00 3.75
7. Eligibility Conditions and Other Restrictions:
(a) Minimum Entry Age : 12 years (last birthday)
(b) Maximum Entry Age : 60 years (nearest birthday)
(c) Maximum Maturity Age : 70 years (nearest birthday)
(d) Minimum Sum Assured : Rs. 1,00,000
(e) Maximum Sum Assured : No limit
(f) Premium Paying term : 3 to 5 years
(g) Policy term : 10 to 30 years

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

9. 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.

10. 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.

11. Revival:
If the policy has lapsed, you can revive it by paying arrears 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.
12. 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:

Guaranteed Surrender Value being 30% of the total amount of premiums paid,
excluding extra premium, if any, and

Special Surrender value being the discounted value of Paid-up Sum Assured.

Cash value of any existing vested bonuses will be paid in addition.

13. Loan :
You may avail loan within the surrender value at the rate and terms
determined from time to time by the Corporation. Presently the rate of interest
is 9% p.a. payable half-yearly.

14. Nomination:
You may nominate a person to receive policy money on death as per Section
39 of Insurance Act 1938.

15. 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.

16. Exclusions:
Suicide is excluded for first year. No other exclusions.

BENEFIT ILLUSTRATION :

Statutory warning :
“Some benefits are guaranteed and some benefits are variable with returns based on the future
performance of your Insurer carrying on life insurance business. If your policy offers guaranteed
returns then these will be clearly marked “guaranteed” in the illustration table on this page. If
your policy offers variable returns then the illustrations on this page will show two different rates
of assumed future investment returns. These assumed rates of return are not guaranteed and they
are not the upper or lower limits of what you might get back, as the value of your policy is
dependent on a number of factors including future investment performance.”
 Benefit Illustration

Age of Life Assured (yrs) 35 22

Policy Term (yrs.) 25 3
Premium paying term (yrs) 3
First year Premium (Rs.) 7149
Annual Premium for
Subsequent years (Rs.) 3577
Sum Assured (Rs.) 100000

Benefit payable on death during the year Benefit on Survival / Maturity at the end of year

Total (Guaranteed + Total (Guaranteed +

Variable Variable) Variable Variable)

End
of Total premiums
Year paid Guaranteed Scenario 1 Scenario 2 Scenario 1 Scenario 2 Guaranteed Scenario 1 Scenario 2 Scenario 1 Scenario 2
1 7149 100000 157 894 100157 100894 0 0 0 0 0
2 10726 100000 393 2234 100393 102234 0 0 0 0 0
3 14303 100000 708 4022 100708 104022 0 0 0 0 0
4 14303 100000 1023 5810 101023 105810 0 0 0 0 0
5 14303 100000 1337 7598 101337 107598 0 0 0 0 0
6 14303 100000 1652 9386 101652 109386 0 0 0 0 0
7 14303 100000 1967 11174 101967 111174 0 0 0 0 0
8 14303 100000 2281 12962 102281 112962 0 0 0 0 0
9 14303 100000 2596 14750 102596 114750 0 0 0 0 0
10 14303 100000 2911 16538 102911 116538 0 0 0 0 0
11 14303 100000 3225 18325 103225 118325 0 0 0 0 0
12 14303 100000 3540 20113 103540 120113 0 0 0 0 0
13 14303 100000 3855 21901 103855 121901 0 0 0 0 0
14 14303 100000 4169 23689 104169 123689 0 0 0 0 0
15 14303 100000 5128 28481 105128 128481 0 0 0 0 0
16 14303 100000 5485 30469 105485 130469 0 0 0 0 0
17 14303 100000 5843 32457 105843 132457 0 0 0 0 0
18 14303 100000 6200 34445 106200 134445 0 0 0 0 0
19 14303 100000 6558 36433 106558 136433 0 0 0 0 0
20 14303 100000 6915 38421 106915 138421 0 0 0 0 0
21 14303 100000 7273 40409 107273 140409 0 0 0 0 0
22 14303 100000 7631 42398 107631 142398 0 0 0 0 0
23 14303 100000 7988 44386 107988 144386 0 0 0 0 0
24 14303 100000 8346 46374 108346 146374 0 0 0 0 0
25 14303 100000 8703 48362 108703 148362 14303 8703 48362 23006 62665
 Benefit Illustration

Age of Life Assured (yrs) 35 22

Policy Term (yrs.) 25 3
Premium paying term
(yrs) 5
First year Premium (Rs.) 8389
Annual Premium for
Subsequent years (Rs.) 2097
Sum Assured (Rs.) 100000

Benefit payable on death during the year Benefit on Survival / Maturity at the end of year

Total (Guaranteed + Total (Guaranteed +

Variable Variable) Variable Variable)

End
of Total premiums
Year paid Guaranteed Scenario 1 Scenario 2 Scenario 1 Scenario 2 Guaranteed Scenario 1 Scenario 2 Scenario 1 Scenario 2
1 8389 100000 185 965 100185 100965 0 0 0 0 0
2 10486 100000 415 2171 100415 102171 0 0 0 0 0
3 12583 100000 692 3618 100692 103618 0 0 0 0 0
4 14680 100000 1015 5306 101015 105306 0 0 0 0 0
5 16778 100000 1384 7235 101384 107235 0 0 0 0 0
6 16778 100000 1753 9165 101753 109165 0 0 0 0 0
7 16778 100000 2122 11094 102122 111094 0 0 0 0 0
8 16778 100000 2491 13024 102491 113024 0 0 0 0 0
9 16778 100000 2861 14953 102861 114953 0 0 0 0 0
10 16778 100000 3230 16882 103230 116882 0 0 0 0 0
11 16778 100000 3599 18812 103599 118812 0 0 0 0 0
12 16778 100000 3968 20741 103968 120741 0 0 0 0 0
13 16778 100000 4337 22671 104337 122671 0 0 0 0 0
14 16778 100000 4706 24600 104706 124600 0 0 0 0 0
15 16778 100000 5830 29801 105830 129801 0 0 0 0 0
16 16778 100000 6250 31949 106250 131949 0 0 0 0 0
17 16778 100000 6669 34096 106669 134096 0 0 0 0 0
18 16778 100000 7089 36244 107089 136244 0 0 0 0 0
19 16778 100000 7508 38391 107508 138391 0 0 0 0 0
20 16778 100000 7927 40539 107927 140539 0 0 0 0 0
21 16778 100000 8347 42686 108347 142686 0 0 0 0 0
22 16778 100000 8766 44834 108766 144834 0 0 0 0 0
23 16778 100000 9186 46981 109186 146981 0 0 0 0 0
24 16778 100000 9605 49129 109605 149129 0 0 0 0 0
25 16778 100000 10025 51277 110025 151277 16778 10025 51277 26802 68054

Notes :

i) This illustration is applicable to a standard (from medical, life style and occupation point of
view) life.

ii) The non-guaranteed benefits (1) and (2) in above illustration are calculated so that they are
consistent with the Projected Investment Rate of Return assumption of 6% p.a.(Scenario 1) and
10% p.a. (Scenario 2) respectively. In other words, in preparing this benefit illustration, it is
assumed that the Projected Investment Rate of Return that LICI will be able to earn throughout
the term of the policy will be 6% p.a. or 10% p.a., as the case may be. The Projected Investment
Rate of Return is not guaranteed.

iii) The main objective of the illustration is that the client is able to appreciate the features of the
product and the flow of benefits in different circumstances with some level of quantification.
EXTRACT from Section 41 of the Insurance Act :

No person shall allow or offer to allow, either directly or indirectly, as an

inducement to any person to take out or renew or continue an insurance in
respect of any kind of risk relating to lives or property in India, any rebate of the
whole or part of the commission payable or any rebate of the premium shown
on the policy, nor shall any person taking out or renewing or continuing a policy
accept any rebate, except such rebate as may be allowed in accordance with the
published prospectuses or tables of the insurer : provided that acceptance by an
insurance agent of commission in connection with a policy of life insurance
taken out by himself on his own life shall not be deemed to be acceptance of a
rebate of premium within the meaning of this sub-section if at the time of such
acceptance the insurance agent satisfies the prescribed conditions establishing
that he is a bonafide insurance agent employed by the insurer.

Any person making default in complying with the provisions of this Section
shall be punishable with a fine which may extend to Rs.500 / -

Note : “Conditions apply” for which please refer to the Policy document or
contact our nearest Branch Office.