LIC Whole Life With Profits
|LIC Table No 2||Term||Age||Sum Assured|
This policy covers the risk as long as the policyholder is alive. The premium is also payable
throughout the lifetime. If the payment of premiums ceases after three years, a free paid-up
policy for such reduced sum will be automatically secured provided the reduced sum assured,
exclusive of any attached bonus is not less than Rs.250/- Such a reduced paid-up policy is not
entitled to participate in the profits declared thereafter but the bonuses already declared on
the policy will remain attached, provided the policy is converted into a paid-up after premiums
are paid up for 5 years.
As per LIC’s latest guidelines, premiums under this policy are payable up to the age of 80 or
for a 40 years term whichever is later. The maturity claim will also to be settled on completion
of permium paying term without waiting for the life assured’s death.
There are no survival benefits under this plan.
Sum Assured plus accrued Bonuses. The Terminal Bonus is paid if the policy was in full force at
least for 15 years before the death of the life assured.
This policy is suitable for people of all ages who wish to protect their families from a financial
setback that may occur owing to their premature death.