Eligibility Criteria

	Minimum	Maximum
Age at Entry	30 Days (completed)	13 Years (completed)
Term	5 Years under Single Premium	25 Years
	10 Years under Limited Premium
Sum Assured	Rs. 2,00,000	No Limit
Premium Paying Term	5, 6 and 7 Years for Limited Premium
	Single Premium

Premium Modes

Premium can be paid either under Limited Premium payment or Single Premium Payment options under this plan. In case of Limited Premium payment, premium can be paid regularly during the premium paying term with modes of premium payment Yearly, Half-Yearly, Quarterly or Monthly (through NACH only) or through salary deductions (SSS).

Riders Available

LIC’s Premium Waiver Benefit Rider

Premium Waiver Benefit Rider is available. It can be opted anytime during the minority of the child, provided the outstanding premium paying term is at least 5 years

Guaranteed Additions
Rs. 80 per Rs. 1000 of Basic Sum Assured for each completed year till the end of the policy term

Maturity Benefits
On the life assured surviving to the end of the policy term, provided all due premiums have been paid, “Sum Assured on Maturity” along with ccrued Guaranteed Additions, shall be payable; where “Sum Assured on Maturity” is equal to Basic Sum Assured.

Death Benefits

Premium Payment	Option	Sum Assured on Death is Higher of
Limited Premium Payment	Option I	7 times of Annualised Premium
		Basic Sum Assured
	Option II	10 times of Annualised Premium
		Basic Sum Assured
Single Premium Payment	Option III	1.25 times of Single Premium
		Basic Sum Assured
	Option IV	10 times of Single Premium

1. Annualized Premium shall be the premium amount payable in a year, excluding the taxes, rider premiums, underwriting extra premiums and loading for modal premiums.

2. Single Premium shall be the premium amount chosen by the policyholder, excluding the taxes, rider premiums, underwriting extra premiums, if any.

Death Benefit payable, on death of the Life Assured, during the policy term after the date of commencement of risk but before the date of maturity, provided the policy is in-force, shall be “Sum Assured on Death” along with accrued Guaranteed Additions for in-force policy where “Sum Assured on Death” shall be as per the Option selected.

The death benefit under Limited Premium payment (Option I & Option II) shall not be less than 105% of ‘Total Premiums Paid’ upto the date of death. Where, Total Premiums Paid means the total of all premiums received under the base policy, excluding any extra premium, and taxes, if collected explicitly.

In case LIC’s Premium Waiver Benefit Rider is opted for, in the event of death of Proposer, any subsequent Premiums which are waived shall be deemed to have been received and be included in the Total Premiums Paid. However, in case of minor Life Assured, whose age at entry is below 8 years, on death before the commencement of risk, the death benefit payable shall be refund of premium(s) paid (excluding taxes, any extra premium, if collected explicitly, rider premium(s), if any), without interest.

Surrender
Under Limited Premium Payment (Option I & Option II), the policy can be surrendered by the policyholder after completion of first policy year provided at least one full years’ premiums has been paid. Under Single Premium Payment (Option III & IV), the policy can be surrendered at any time during the policy term.

Under Limited Premium Payment (Option I & Option II) the policy shall acquire Guaranteed Surrender Value on payment of at least two full years’ premiums and Special Surrender Value after completion of first policy year provided one full year’s premium(s) has been paid.

Loan
Under Limited Premium payment (Option I & Option II), loan can be availed after completion of first policy year provided atleast one full years’ premium has been paid.

Under Single Premium payment (Option III & Option IV), loan can be availed during the policy term at any time after three months from the completion of the policy (i.e. 3 months from the Date of issuance of policy) or after expiry of the Free-Look Period, whichever is later.