JEEVAN TARANG TABLE NO. 178

	Term	Age	Sum Assured
Minimum	10	0	100000
Maximum	20	60	No Limits

Premium Ceasing Age : 70 Premium Ceasing Term : 20

Plan Highlights:

LIC’s Jeevan Tarang Plan (Plan No. 178) is a whole of life plan, which provides for annual survival benefit at a rate of 5½ % of the Sum Assured for life time after the chosen Accumulation Period. The plan offers three Accumulation periods – 10, 15 and 20 years.

Benefits
Survival Benefits:
a) The vested simple reversionary bonuses will be payable in one lump sum on survival to the end of the selected Accumulation Period.
b) 5½% of the Sum Assured will be payable on survival to the end of each year after the Accumulation Period. The first survival benefit will be payable on survival to one year after the Accumulation Period is over.

Maturity Benefit:
The Sum Assured along with Loyalty Addition, if any, will be payable on survival of the life assured to the policy anniversary coinciding with or immediately following the completion of 100 years of age.

Death Benefits:
a) The Sum Assured, along with vested reversionary bonuses is payable in case of death of the Life Assured during the Accumulation Period.
In case of death before commencement of risk when the Life Assured is aged less than or equal to 12 years, the premiums paid will be returned without any interest. There will be no death benefit either for the Basic Sum Assured or for simple reversionary bonuses since, in such cases, the risk for life cover commences after 2 years from the date of taking of the policy or from the policy anniversary coinciding with or immediately following the date on which life assured completes 7 years of age, whichever is later.
b) The Sum Assured along with Loyalty Addition, if any is payable in case of death of the Life Assured any time after the Accumulation Period.
Riders (available during the Accumulation Period only)

Accident Benefit Rider Option:
Accident Benefit Option will be available under the plan by the payment of additional premium. Accident Benefit Rider shall be available for an amount not exceeding the Sum Assured.This benefit is available under Regular Premium policies only and it is not available under Single Premium policies.

Term Assurance Rider Option:
Term assurance as optional rider will be available under this plan during the Accumulation Period. The premiums for this option are payable during the premium paying term and an amount equal to term assurance sum assured will be payable on death during the Accumulation Period.

Critical Illness Rider Option:
An amount equal to Critical Illness Rider Sum Assured will be payable in case of diagnosis of defined.

Critical Illness Rider:
Ages at entry: 18 years (completed) to 50 years (nearest birthday)
Maximum age at which premium payment ceases: 60 years (nearest birthday)
Age up to which rider cover available: 60 years (nearest birthday)
Premium paying terms: Single Premium and, in case of regular premiums, equal to the accumulation period, i.e. 10, 15 and 20 years

Sum Assured: An amount equal to the sum assured under Basic Plan subject to a minimum Sum Assured of Rs.50,000/- and a 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 can be in multiples of Rs.10,000/-.
Availability of Rider: During chosen accumulation period.

Loan: Loan facility is available under this plan.

Illustration with Example:

Proposer:  Mr. X

Age: 37 years

Nominee: Mr. Y

Policy Amount : 5 Lacs.

                             

Policy key features:

This is one of the very novel plans of LIC.  This is a whole life plan which provides annual survival benefits at the rate of 5.5% of the Sum Assured (Policy Amount) for the life time after one year from the chosen accumulation period.  Therefore for 5 lacs an amount of Rs. 27,500/- will be returned every year.

Policy can be paid as regular premiums under Yearly, Half yearly, Quarterly and Monthly.  This policy has a special feature so that the policy paying term can be reduced to 6 years.  Premium can also be paid as single premium.

Note:  Accident benefit cannot be availed under single premium.

Terms and Premiums:

Term: 10 years

Single Premium:Rs. 3,71,750 /-

Regular & 6 years P.P.T Premiums:

Regular Premiums			6 years PPT
Mode	Premiums	Total Premiums Paid	Premiums	Total Premiums Paid
Qly Hly Yly	Rs. 13,481/- Rs. 26,690/- Rs. 52,834/-	13,481 x 40 = Rs. 5,39,240/- 26,690 x 20 = Rs. 5,33,800/- 52,834 x 10 = Rs. 5,28,340/-	Rs. 19,706/- Rs. 39,017/- Rs. 77,241/-	19,706 x 24 = Rs. 4,72,944/- 39,017 x 12 = Rs. 4,68,204/- 77,241 x 6 =Rs. 4,63,446/-

Bonus:  At the end of the 10 years, approximately at the rate of Rs. 55/- per thousand S.A.

Rs. 2,75,000 /-

Term: 15 years

Single Premium: Rs. 3,15,750 /-

Regular & 6 years P.P.T Premiums:

Regular Premiums			6 years PPT
Mode	Premiums	Total Premiums Paid	Premiums	Total Premiums Paid
Qly Hly Yly	Rs. 8,769/- Rs. 17,359/- Rs. 34,361/-	8,769 x 60 =Rs. 5,26,140/- 17,359 x 30 = Rs. 5,20,770/- 34,361 x 15 = Rs. 5,15,415/-	Rs. 16,825/- Rs. 33,313/- Rs. 65,952/-	16,825 x 24 = Rs. 4,03,800/- 33,313 x 12 = Rs. 3,99,756/- 65,952 x 6 =Rs. 3,95,712/-

Bonus:  At the end of the 15 years, approximately at the rate of Rs. 55/- per thousand S.A.

Rs. 4,12,500 /-

Term: 20 years

Single Premium: Rs. 2,67,750 /-

Regular & 6 years P.P.T Premiums:

Regular Premiums			6 years PPT
Mode	Premiums	Total Premiums Paid	Premiums	Total Premiums Paid
Qly Hly Yly	Rs. 6,281/- Rs. 12,434/- Rs. 24,610/-	6,281 x 80 =Rs. 5,02,480/- 12,434 x 40 = Rs. 4,97,360/- 24,610 x 20 = Rs. 4,92,200/-	Rs. 14,419/- Rs. 28,549/- Rs. 56,523/-	14,419 x 24 = Rs. 3,46,056/- 28,549 x 12 = Rs. 3,99,756/- 56,523 x 6 =Rs. 3,39,138/-

Bonus:  At the end of the 20 years, approximately at the rate of Rs. 55/- per thousand S.A.

Rs. 5,50,000 /-