^mJ-~r : n[a^mfmE± PART – B : DEFINITIONS
Bg nm°{bgr _| à`wŠV nm[a^m{fH$ eãX/eãXm| H$s n[a^mfmE§ {ZåZ àH$ma h¢:
1. Am`w nm°{bgr Ho$ àma§^ hmoZo Ho$ g_` ~r{_V ì`pŠV Ho$ {ZH$Q>V_ OÝ_
{Xdg na CgH$s Am`w h¡& bo{H$Z 8 df© H$s Am`w Ho$ {bE `h nyU© dm{f©H$
df© _| hmoJr&
2. {Z`wŠV dh ì`pŠV h¡ {OgH$mo, nm°{bgr Ho$ A§VJ©V gw{Z{üV àm{á`m|/
{hVbm^ H$m ^wJVmZ Xo` h¡, `{X {hVbm^ Zm_m§{H$V ì`pŠV H$mo Xo` h¡
Am¡a Xmdo H$s ^wJVmZ VmarI na dh Zm~m{bJ h¡&
3. dm{f©H$sH¥$V àr{_`_ ~r{_V ì`pŠV Ûmam MwZr JB© àr{_`_ hmoJr Am¡a Cg_|
H$moB© H$a, AZwd¥{Õ àr{_`_ ~r_mboIZ {ZU©` Ho$ H$maU {bE OmZo dmbr
A{V[aŠV àr{_`_ am{e, Am¡a àr{_`_ ^wJVmZ àUmbr Ho$ {bE bmoqS>J
`{X H$moB© hmo, em{_b Zht h¡&
4. g_ZwXo{eVr dh ì`pŠV h¡ {Ogo EH$ g_ZwXoeZ Ho$ AmYma na A{YH$ma
Am¡a {hVbm^ hñVm§V[aV {H$E JE h¢&
5. g_ZwXoeZ {H$gr ''g_ZwXo{eVr'' H$mo A{YH$ma Am¡a {hVbm^m| H$mo
hñVm§V[aV H$aZo H$s à{H«$`m h¡& g_ZwXoeZ, g_`-g_` na `Wmg§emo{YV
~r_m A{Y{Z`_, 1938 H$s Ymam 38 H$o àmdYmZm| H$o AZg w ma hmZom Mm{hE&
6. _yb nm°{bgr, nm°{bgr H$m dh ^mJ h¡, {Og_| _yb {hVbm^m| H$m C„oI
{H$`m J`m h¡ (`{X AZwd¥{Õ H$m M`Z {H$`m J`m h¡ Vmo CgHo$ A§VJ©V
{hVbm^m| H$mo N>mo‹S>H$a, Cg nm°{bgr _| C{„pIV {hVbm^)&
7. _yb ~r_m am{e H$m AW© Cg am{e go h¡ Omo AZwgyMr _| {d{Z{X©ï> h¡ Am¡a
nm°{bgr boZo Ho$ g_` {OgH$m M`Z nm°{bgrYmaH$ Zo {H$`m h¡&
8. bm^mWu/XmdmH$Vm© H$m AW© Cg ì`pŠV/g§ñWm go h¡, Omo Bg nm°{bgr Ho$
A§VJ©V {hVbm^ àmá H$aZo H$m A{YH$mar hmo& bm^mWu, {OÝh| {hVbm^ Xo`
h¡, dh h¡ àñVmdH$ `m ~r{_V `m ~r_m A{Y{Z`_ 1938 H$s Ymam 38
Ho$ A§VJ©V CgHo$ g_ZwXo{eV `m g_` g_` na `Wmg§emo{YV ~r_m
A{Y{Z`_ 1938 H$s Ymam 39 Ho$ A§VJ©V Zm{_Vm| `m à_m{UV {ZînmXH$m|
`m àemgH$m| `m AÝ` d¡Ym{ZH$ à{V{Z{Y`m|, {OÝhm|Zo CgH$s g§nXm `m Bg
nm°{bgr Ho$ A§VJ©V Xo` am{e _mÌ Ho$ {bE ^maVr` g§K Ho$ {H$gr amÁ` `m
g§K em{gV àXoe Ho$ {H$gr Ý`m`mb`,Omo ^r bmJy hmo, go AnZo à{V{Z{Y
hmoZo H$m à_mUnÌ àmá {H$`m h¡&
9. {Za§Va ~r_m`mo½`Vm, `{X {H$gr AZwd¥{Õ H$m M`Z {H$`m J`m h¡ Vmo CgHo$
g{hV nm°{bgr Ho$ nwZM©bZ {H$E OmZo na {ZJ_ Ho$ g§Vw{ï> Ho$ AZwgma
~r{_V ì`pŠV/àñVmdH$ H$s ~r_m`mo½`Vm H$m {ZYm©aU h¡ Omo nhbo go
CnbãY gyMZm, XñVmdoOm| Am¡a [anmoQ>m] na VWm nwZM©bZ Ho$ g_` {ZJ_
H$s ~r_mboIZ Zr{V Ho$ AZwgma Bg g§~§Y _| _m§Jr JB© A{V[aŠV gyMZm
na {Z^©a hmoJr&
10. {ZJ_ H$m AW©, OrdZ ~r_m A{Y{Z`_, 1956 H$s Ymam 3 Ho$ A§VJ©V
ñWm{nV ^maVr` OrdZ ~r_m {ZJ_ h¡&
11. nm°{bgr àma§^ hmoZo H$s VmarI Bg nm°{bgr H$s àma§^-VmarI h¡&
12. OmopI_ àma§^ hmoZo H$s VmarI dh VmarI h¡, {Og na {ZJ_, ~r_m
(gwajm) Ho$ {bE OmopI_ H$mo ñdrH¥$V H$aVm h¡, O¡gm{H$ Bg nm°{bgr H$s
AZwgyMr _| Xem©`m J`m h¡&
13. nm°{bgr Omar H$aZo H$s VmarI dh VmarI h¡, O~ ~r_mboIZ Ho$ nümV²
àñVmd H$mo nm°{bgr Ho$ ê$n _| ñdrH$ma H$a {b`m J`m h¡ Am¡a `h g§{dXm
Mmby hmo J`m h¡&
14. n[an¹$Vm H$s VmarI AZwgyMr _| {d{Z{X©ï> dh VmarI h¡ O~ nm°{bgr
Ad{Y nyar hmoVr h¡&
15. {Z{hV hmoZo H$s VmarI, 18 df© H$s Am`w nyU© hmoZo na n‹S>Zo dmbr AWdm
CgHo$ Vwa§V ~mX AmZo dmbr nm°{bgr df©Jm§R> {V{W h¡& Eogo {Z[hV hmoZo H$s
VmarI na `h nm°{bgr {ZJ_ Am¡a ~r{_V ì`pŠV Ho$ ~rM EH$ AZw~§Y
_mZm OmEJm & ~r{_V ì`pŠV nm°{bgr H$m nwU© ñdm_r ~Z OmEJm Am¡a Bg
na àñVmdH$ AWdm CgH$m g§nXm H$m H$moB© A{YH$ma `m ñdmW© Zht ahoJm&
16. _Ë¥`w {hVbm^ dh {hVbm^ h,¡ Omo ~r{_V ì`pŠV H$s _Ë¥`w na X`o hmVom h,¡
Og ¡ m{H$ Bg nm{°bgr XñVmdO o H$o ^mJ 'gr' H$s eV© 1.H$ _| {d{Z{Xï©> h&¡
17. {d_wpŠV ànÌ dh ànÌ h¡ Omo Bg nm°{bgr Ho$ A§VJ©V n[an¹$Vm/
Aä`n©U/_¥Ë`w {hVbm^ H$m Xmdm H$aZo Ho$ {bE nm°{bgrYmaH$/XmdmH$Vm©
H$mo ^aZm hmoVm h¡&
18. {Z`V VmarI dh {Z`V VmarI h¡ O~ àr{_`_ Xo` hmoVm h¡ Am¡a
nm°{bgrYmaH$ Ûmam AXm H$a {X`m OmZm Mm{hE&
19. n¥ð>m§H$Z H$m AW© do eV] h¢, Omo Bg nm°{bgr Ho$ gmW g§b¾ h¢ Am¡a
{OZH$o Ûmam {ZJ_ Zo nm{°bgr _| gh_{VndyH©$ ge§mYoZ AWdm gYwma {H$E h&¢
20. A{V[aŠV àr{_`_ dh à^ma h¡ Omo ~r_mboIZ {ZU©` Ho$ H$maU {H$gr Eogo
A{V[aŠV OmopI_ Ho$ {bE {b`m OmVm h¡ Omo Ý`yZV_ g§{dXm àr{_`_ _|
Zht {X`m J`m h¡&
LIC's New Endowment Plan Page 5 of 20
The definitions of terms/words used in the Policy Document
are as under:
1. Age is the age nearer birthday of the Life Assured at the time of
commencement of the policy except for age 8 yrs for which the
age is in completed year.
2. Appointee is the person to whom the proceeds/benefits
secured under the Policy are payable if the benefit becomes
payable to the nominee and nominee is minor as on the date of
claim payment.
3. Annualized Premium shall be the premium amount payable
in a year chosen by the policyholder, excluding the taxes, rider
premiums, underwriting extra premiums and loadings for
modal premiums, if any.
4. Assignee is the person to whom the rights and benefits are
transferred by virtue of an Assignment.
5. Assignment is the process of transferring the rights and
benefits to an “Assignee”. Assignment should be in
accordance with the provisions of Section 38 of Insurance Act,
1938 as amended from time to time.
6. Base Policy is that part of the Policy referring to basic benefit
(benefits referred to in this Policy Document excluding benefits
covered under rider, if opted for).
7. Basic Sum Assured means the amount specified in the
Schedule as opted by the Policyholder at the time of taking the
policy.
8. Beneficiary/ Claimant means the person(s)/ entity who is/ are
entitled to receive the benefits under this policy. The
Beneficiary to whom benefits are payable is the Proposer or
Life Assured or his Assignee under Section 38 of the Insurance
Act, 1938, as amended from time to time or Nominee(s) under
Section 39 of the Insurance Act, 1938, as amended from time
to time or proved Executors or Administrators or other Legal
Representatives who should take out representation to his/ her
Estate or limited to the moneys payable under this Policy from
any Court of any State or Territory of the Union of India, as
applicable.
9. Continued Insurability is the determination of insurability of
Life Assured/Proposer on revival of policy with rider(s) if opted
for, to the satisfaction of the Corporation based on the
information, documents and reports that are already available
and any additional information in this regard if and as may be
required in accordance with the Underwriting Policy of the
Corporation at the time of revival.
10. Corporation means the Life Insurance Corporation of India
established under Section 3 of the LIC Act, 1956.
11. Date of commencement of policy is the start date of this Policy.
12. Date of commencement of risk is the date on which the
Corporation accepts the risk for insurance (cover) as
evidenced in the Schedule of the policy.
13. Date of issuance of policy is a date when a proposal after
underwriting is accepted as a policy and this contract gets
effected.
14. Date of Maturity means the date specified in the Schedule on
which the Policy Term is completed.
15. Date of Vesting shall be the policy anniversary date coinciding
with or immediately following the completion of 18 years of age.
On such vesting date, this policy shall be deemed to be a
contract between the Corporation and the Life Assured. The
Life Assured shall become the absolute owner of the policy and
the proposer or his estate shall cease to have any right or
interest therein.
16. Death Benefit means the benefit, which is payable on
death, as specified in Condition 1.A of Part C of this Policy
Document.
17. Discharge form is the form to be filled by policyholder/
claimant to claim the maturity/surrender/death benefit under
the policy.
18. Due Date means a fixed date on which the policy premium is
due and payable by the policyholder.
19. Endorsement means conditions attached/ affixed to this
Policy incorporating any amendments or modifications agreed
to or issued by the Corporation.
20. Extra premium means a charge, due to underwriting decision,
for any additional risk not provided for, in minimum contract
premium.
Plan No.- 914
21. A§{V_ A{V[aŠV ~moZg {Ogo A§{V_ ~moZg ^r H$hm OmVm h¡, dh
A{V[aŠV am{e h¡ Omo nm°{bgr g_m{á na gmYmaU àË`mdVu ~moZg Ho$
gmW Xo` hmoVr h¡ ~eV} {H$ Eogm A§{V_ A{V[aŠV ~moZg {ZJ_ Ûmam
Kmo{fV {H$`m J`m hmo Am¡a nm°{bgr Eogo A§{V_ A{V[aŠV ~moZg Ho$ {bE
J«mø hmo&
22. nyd©-g_mnZ, Xo` VmarI na ~H$m`m F$U Am¡a/AWdm F$U Ho$ ã`mO Ho$
^wJVmZ _| MyH$ hmoZo Ho$ H$maU nm°{bgr Ho$ ~§X H$aZo H$s H$ma©dmB© h¡ O~{H$
~H$m`m F$U Am¡a CgHo$ ã`mO H$s am{e Aä`n©U _yë` go A{YH$ hmo OmE&
23. {Z:ewëH$ AdbmoH$Z Ad{Y nm°{bgrYmaH$ Ûmam nm°{bgr àmá H$aZo H$s
VmarI Ho$ ~mX 15 {XZm| H$s dh Ad{Y h¡, {OgHo$ Xm¡amZ dh nm°{bgr Ho$
{Z`_/eVm] H$m nwZamdbmoH$Z H$a gH$Vm h¡ Am¡a `{X nm°{bgrYmaH$ {H$gr
{Z`_/eV© go gh_V Zht h¡ Vmo CgHo$ nmg nm°{bgr dmng H$aZo H$m
{dH$ën h¡&
24. AZJwh« Ad{Y {H$gr O_wmZ©o `m {db~§ eëwH$ H$o {~Zm àr{_`_ AXm H$aZo H$o
{bE {Z`V VmarI H$o ~mX ~r_mH$Vm© Ûmam {X`m J`m dh A{V[aŠV g_` h,¡
{OgH$o Xma¡mZ nm{°bgr ~r_m gawjm H$o gmW Mmby _mZr OmVr h¡ Ama¡ nm{°bgr
H$o {Z`_/eVm] H$o AZg w ma Cg_| H$mBo© ì`dYmZ Zht AmVm&
25. Jma§Q>rH¥$V Aä`n©U _yë`, nm°{bgr Aä`{n©V {H$E OmZo na nm°{bgrYmaH$
H$mo Xo` Aä`n©U _yë` H$s Ý`yZV_ Jma§Q>rH¥$V am{e h¡&
26. Mmby nm{°bgr Eg o r nm{°bgr h,¡ {Og na g^r X`o àr{_`_ AXm H$a {XE JE
h¢ Ama¡ AZJwh« Ad{Y go A{YH$ g_` H$o {bE àr{_`_ ~H$m`m Zht h&¢
27. AmB©AmaS>rEAmB© H$m AW© ^maVr` ~r_m {Z`m_H$ Ed§ {dH$mg àm{YH$aU
h¡, {Ogo nhbo ~r_m {Z`m_H$ Ed§ {dH$mg àm{YH$aU (AmB©AmaS>rE) H$hm
OmVm Wm&
28. ''H$mbmVrV'' nm°{bgr H$s dh AdñWm h¡ O~ AZwJ«h Ad{Y Ho$ Xm¡amZ
Xo` àr{_`_ H$m ^wJVmZ Z {H$`m J`m hmo&
29. ~r{_V ì`pŠV dh ì`pŠV h¡, {OgHo$ OrdZ na ~r_m gwajm ñdrH¥$V {H$`m
J`m h¡&
30. F$U, {ZJ_ Ûmam nm°{bgrYmaH$ H$mo Aä`n©U _yë` Ho$ EdO _| Xo` dh
am{e h¡, Omo ã`mO g{hV MwH$mB© OmZr h¡&
31. n[an¹$Vm {hVbm^ dh {hVbm^ h¡ Omo nm°{bgr Ho$ n[an¹$ hmoZo na Xo`
hmoVm h¡, O¡gm{H$ Bg nm°{bgr XñVmdoO Ho$ ^mJ 'gr' H$s eV© 1.I _|
{d{Z{X©ï> h¡&
32. _hËdnyU© gyMZm nm°{bgr boZo Ho$ g_` ~r{_V ì`pŠV nm°{bgrYmaH$/
àñVmdH$ H$mo nhbo go hr kmV dh gyMZm h¡, Omo àñVwV {H$E JE àñVmd/
nm°{bgr Ho$ ~r_mboIZ H$mo à^m{dV H$aVr h¡&
33. Zm~m{bJ dh ì`pŠV h¡, {OgZo 18 df© H$s Am`w nyar Zht H$s h¡&
34. Zm_m§H$Z dh à{H«$`m h¡, {OgHo$ Ûmam àñVmd-nÌ _| {H$gr ì`pŠV/
ì`pŠV`m| H$mo ''Zm{_Vr'' Ho$ ê$n _| XO© {H$`m J`m hmo AWdm ~mX _|
n¥ð>m§H$Z Ho$ _mÜ`_ go em{_b {H$`m J`m hmo/~Xbm J`m hmo& Zm_m§H$Z
g_`-g_` na g§emo{YV ~r_m A{Y{Z`_, 1938 H$s Ymam 39 Ho$
AZwgma hmoZm Mm{hE&
35. Zm{_Vr Bg nm°{bgr Ho$ A§VJ©V nm°{bgrYmaH$ (Omo ~r{_V ì`pŠV ^r h¡)
Ûmam Zm{_V ì`pŠV h¡/h¢, Omo Bg nm°{bgr Ho$ A§VJ©V Xo` Xmdm {hVbm^
àmá H$aZo Am¡a Xmdo Ho$ {ZnQ>mZ na {ZJ_ H$mo d¡Y {d_wpŠV XoZo Ho$ {bE
àm{YH¥$V h¡/h¢&
36. _¥Ë`w {hVbm^ {H$íVm| _| boZo H$m {dH$ën: Bg nm°{bgr XñVmdoO Ho$ ^mJ
'S>r' H$s eV© 8 Ho$ {d{ZX}e Ho$ AZwgma, _¥Ë`w {hVbm^ {H$íVm| _| àmá
H$aZo H$m {dH$ën Bg nm°{bgr Ho$ A§VJ©V CnbãY EH$ {dH$ën h¡, {OgHo$
AZwgma _¥Ë`w {hVbm^ EH$_wíV boZo Ho$ ~Om`, nm°{bgrYmaH$ Ûmam MwZr
JB© g_`-Ad{Y _| {H$íVm| _| {b`m Om gH$Vm h¡&
37. ^mJrXma nm°{bgr H$m AW©, Cg nm°{bgr go h¡, Omo nm°{bgr Ho$ {Z`_/eVm]
Ho$ AZwgma CËnÞ ~MV (bm^) Ho$ {H$gr ^mJ Ho$ {bE hH$Xma hmo&
38. àXÎm nm{°bgr H$s dh AdñWm h,¡ O~ àr{_`_ H$_ go H$_ Xmo nUy© dfm] H$o
{bE AXm H$a Xr JB© hmo Ama¡ CgH$o ~mX H$s àr{_`_ AXm Z H$s JB© hm&o
39. nm°{bgr H$s df©Jm§R> H$m AW©, nm°{bgr àma§^ hmoZo H$s VmarI go EH$ df©
Am¡a CgHo$ ~mX nm°{bgr n[an¹$ hmoZo H$s VmarI VH$, àË`oH$ df© AmZo
dmbr dhr VmarI h¡&
40. nm°{bgr/nm°{bgr XñVmdoO {ZJ_ Ûmam Omar `h XñVmdoO Am¡a n¥ð>m§H$Z
(`{X H$moB© hmo) h¡, Omo nm°{bgrYmaH$ Am¡a {ZJ_ Ho$ ~rM EH$ H$mZyZr
H$ama h¡&
41. nm°{bgrYmaH$ Bg nm°{bgr H$m H$mZyZr ñdm_r h¡&
42. nm°{bgr Ad{Y nm°{bgr àma§^ hmoZo H$s VmarI go n[an¹$Vm H$s VmarI
VH$ dfm] _| ì`ŠV dh Ad{Y h¡ Omo nm°{bgrYmaH$ Zo MwZr h¡ Am¡a Omo
AZwgyMr _| {d{Z{X©ï> h¡&
43. nm°{bgr df© Xmo bJmVma nm°{bgr df©Jm§R>m| Ho$ ~rM H$m g_` h¡& Bg Ad{Y
LIC's New Endowment Plan Page 6 of 20
21. Final Additional Bonus, also called as Terminal Bonus, is an
additional amount payable along with the Simple Reversionary
Bonus when the policy terminates, provided such a Final
Additional Bonus is declared by the Corporation and the policy
is eligible for such Final Additional Bonus.
22. Foreclosure is an action of closing the policy due to default in
payment of outstanding loan and/or loan interest on due date
when the outstanding loan amount along with interest is to
exceed the surrender value.
23. Free Look Period is the period of 15 days from the date of
receipt of the Policy Document by the Policyholder to review
the terms and conditions of this policy and where the
Policyholder disagrees to any of those terms and conditions,
he/ she has the option to return this policy.
24. Grace period is the time granted by the insurer from the due
date for the payment of premium, without any penalty or late
fee, during which time the policy is considered to be in-force
with the risk cover without any interruption.
25. Guaranteed Surrender Value is the minimum guaranteed
amount of Surrender Value payable to the policyholder on
surrender of the policy.
26. In-force policy means a policy in which all the due premiums
have been paid and the premiums are not outstanding beyond
grace period.
27. IRDAI means Insurance Regulatory and Development
Authority of India earlier called as Insurance Regulatory and
Development Authority (IRDA).
28. Lapse is the status of the Policy when due premium is not paid
within the grace period.
29. Life Assured is the person on whose life the insurance cover
has been accepted.
30. Loan is the interest bearing repayable amount granted by the
Corporation against the surrender value payable to the
policyholder.
31. Maturity Benefit means the benefit, which is payable on
maturity, as specified in Condition 1.B of Part C of this Policy
Document.
32. Material information is the information already known to the
Policyholder/Life Assured/Proposer at the time of obtaining a
policy which has a bearing on underwriting of the proposal
/Policy submitted.
33. Minor is a person who has not completed 18 years of age.
34. Nomination is the process of nominating a person(s) who is
(are) named as “Nominee(s)” in the proposal form or
subsequently included/ changed by an endorsement.
Nomination should be in accordance with provisions of Section
39 of the Insurance Act, 1938 as amended from time to time.
35. Nominee(s) means the person(s) nominated by the
Policyholder (who is also the Life Assured) under this Policy
who is (are) authorised to receive the claim benefit payable
under this Policy and to give a valid discharge to the
Corporation on settlement of the claim.
36. Option to take Death Benefit in instalments: Option to take
death benefit in instalments, as specified in Condition 8 of Part
D of this Policy Document, is an option available under this
Policy, to receive Death Benefit in instalments instead of
lumpsum amount over a period chosen by the Policyholder/
Life Assured.
37. Participating policy means a policy is eligible for share of
profit depending upon the Corporation’s experience in
accordance with the terms and conditions of the policy.
38. Paid-Up is the status of the Policy, if the premiums are paid for
at least two full years and subsequent premium/s be not paid.
39. Policy Anniversary means one year from the date of
commencement of the Policy and the same date falling each
year thereafter, till the date of maturity.
40. Policy/ Policy Document means this document along with
endorsements, if any, issued by the Corporation which is a
legal contract between the Policyholder and the Corporation.
41. Policyholder is the legal owner of this policy.
42. Policy term is the period, in years, as chosen by the
policyholder and mentioned in the Schedule, commencing
from the Date of commencement of policy to the Date of
Maturity.
43. Policy year is the period between two consecutive policy
Plan No.- 914
 _| nhbm {XZ em{_b h¡, qH$Vw AJbr df©Jm§R> H$m {XZ em{_b Zht h¡&
44. àr{_`_, Bg nm°{bgr Ho$ A§VJ©V {hVbm^ gw{Z{üV H$aZo Ho$ {bE, Bg
nm°{bgr XñVmdoO H$s AZwgyMr _| C{„pIV dh g§{dXmJV am{e h¡ Omo
nm°{bgrYmaH$ Ûmam Amd{YH$ ê$n go {d{Z{X©ï> g_`m| na AXm H$s OmZr h¡&
Xo` àr{_`_ ''Hw$b {H$íV àr{_`_'' hmoJm, {Og_| {ZåZ{bpIV àr{_`_
em{_b h¢:
• _yb nm°{bgr Ho$ {bE {H$íV àr{_`_; Am¡a
• `{X AZwd¥{Õ(`m|) H$m M`Z {H$`m J`m h¡ Vmo AZwd¥{Õ(`m|) Ho$ {bE
{H$íV àr{_`_
Bg nm°{bgr XñVmdoO _| H$ht na ^r à`wŠV ''àr{_`_'' eãX _| H$moB© H$a
em{_b Zht h¡, CZH$m ^wJVmZ AbJ go {H$`m OmZm h¡&
45. àñVmdH$ OrdZ ~r_m Ho$ àñVmd H$mo àñVwV H$aZo dmbm ì`pŠV h¡&
46. nwZM©bZ àr{_`_ H$s J¡a-AXm`Jr Ho$ H$maU g_má H$s JB© nm°{bgr Ho$
nwZM©bZ H$m AW© h¡ ~r{_V ì`pŠV Am¡a/AWdm àñVmdH$ (`{X OrdZ
~r_m {ZJ_ H$s àr{_`_ AZwJ«h AZwd¥{Õ H$m M`Z {H$`m h¡) H$s {Za§Va
~r_m`mo½`Vm Ho$ {df` _| g§Vwï> hmoH$a, nm°{bgr Ho$ {Z`_/eVm] Ho$ AZwgma
g^r Xo` àr{_`_ VWm AÝ` à^ma/{db§~ ewëH$, `{X H$moB© hmo, boH$a
~r_mboIZ {ZU©` ~r_mH$Vm© Ûmam nm°{bgr XñVmdoO _| Cëbo{IV g^r
{hVbm^m| Ho$ gmW, AZwd¥{Õ {hVbm^, `{X H$moB© hmo, Ho$ gmW `m dJ¡a
nm°{bgr H$mo {\$a go ~hmb H$aZm&
47. nwZM©bZ Ad{Y nhbr AXÎm àr{_`_ H$s VmarI go nm§M {Za§Va df© H$s
dh Ad{Y h¡ {OgHo$ Xm¡amZ nm°{bgrYmaH$ H$mo Cg nm°{bgr H$mo nwZM©{bV
H$amZo H$m A{YH$ma hmoJm, Omo àr{_`_ AXm Z H$aZo Ho$ H$maU ~§X H$a Xr
JB© Wr&
48. AZwd¥{Õ dh A{V[aŠV gwajm h¡ {OgH$m M`Z _yb `moOZm Ho$ gmW {H$`m
Om gH$Vm h¡&
49. AZwd¥{Õ {hVbm^ H$m AW© {hVbm^ H$s dh am{e h¡ Omo AZwd¥{Õ Ho$
A§VJ©V àXÎm KQ>Zm hmoZo na Xo` h¡ Am¡a `h _yb nm°{bgr CËnmX Ho$
{hVbm^m| na A{V[aŠV {hVbm^ Ho$ ê$n _| {X`m OmVm h¡&
50. AZwd¥{Õ àr{_`_, dh àr{_`_ h¡ Omo nm°{bgrYmaH$ Ûmam _yb nm°{bgr Ho$
àr{_`_ Ho$ gmW-gmW, AZwd¥{Õ Ho$ A§VJ©V MwZo JE {H$gr A{V[aŠV
gwajm/{hVbm^ Ho$ {bE Xo` h¡&
51. AZwd¥{Õ ~r_m am{e dh {Z{üV YZam{e h¡ Omo MwZr JB© AZwd¥{Õ Ho$ A§VJ©V
Amd¥Îm KQ>Zm hmoZo na Xo` hmoVr h¡&
52. AZwgyMr nm°{bgr XñVmdoO H$m dh ^mJ h¡ {Og_| AmnH$s nm°{bgr Ho$
{deof {ddaU h¢&
53. gmYmaU àË`mdVu ~moZg, dh A{Yeof/bm^ h¡ Omo {ZJ_ Ûmam ^mJrXma
nm°{b{g`m| Ho$ AZw^d Ho$ AmYma na àË`oH$ {dÎmr` df© Ho$ A§V _| Kmo{fV
{H$`m OmVm h¡ Am¡a {OgH$mo nm°{bgr _| {d{Z{X©ï> {Z`_ Am¡a eVm] Ho$
AZwgma nm°{bgr Ho$ {hVbm^m| _| Omo‹S> {X`m OmVm h¡&
54. {ZnQ>mZ {dH$ën Bg nm°{bgr Ho$ ^mJ 'S>r' H$s eV© 9 _| {d{Z{X©ï> nm°{bgr
Ho$ A§VJ©V dh {dH$ën h¡, {Og_| nm°{bgr {hVbm^ EH$_wíV àmá H$aZo Ho$
~Om`, nm°{bgrYmaH$/~r{_V ì`pŠV Ûmam MwZr JB© g_` Ad{Y Ho$ Xm¡amZ
{H$íVm| _| àmá {H$E OmVo h¢&
55. _¥Ë`w na ~r_m am{e, Bg nm°{bgr Ho$ {Z`_ Ed§ eVm] Ho$ AZwgma, ~r{_V
ì`pŠV H$s _¥Ë`w hmo OmZo na Xo` {Z{üV am{e dmbm {hVbm^ h¡&
56. n[an¹$Vm na ~r_m am{e dh am{e h¡ Omo nm°{bgr Ho$ {Z`_ Ed§ eVm] Ho$
AZwgma, nm°{bgr H$s n[anŠdVm H$s pñW{V _| Xo` hmoZr {Z{üV h¡&
57. Aä`nU © H$m AW© h¡ n[anŠdVm go nhbo hr nayr nm{°bgr H$m nUy© AmhaU/g_mnZ&
58. Aä`n©U _yë` H$m AW© Cg am{e go h¡ Omo Bg nm°{bgr Ho$ {Z`_ Ed§
eVm] Ho$ AZwgma, Aä`n©U H$s pñW{V _| Xo` hmoVr h¡&
59. gmaUr~Õ àr{_`_ {H$gr Nw>Q> `m A{V[aŠV bmoqS>J Ho$ à`moJ Ho$ {~Zm
~r{_V ì`pŠV Ho$ Am`w na MwZr JB© _yb ~r_m am{e Ho$ {bE àr{_`_ h¡&
60. Hw$b AXm {H$`m J`m àr{_`_, {H$gr A{V[aŠV àr{_`_, AZwd¥{Õ àr{_`_
Am¡a H$am| H$mo N>mo‹S>H$a, àmá {H$E JE g^r àr{_`_m| H$m `moJ h¡&
61. ~r_mboIZ dh nm[a^m{fH$ eãX h¡, {OgH$m à`moJ OmopI_ H$m {ZYm©aU
H$aZo Am¡a `h gw{Z{üV H$aZo Ho$ {bE {H$`m OmVm h¡ {H$ gwajm H$s bmJV
g§~§{YV ì`pŠV Ûmam CR>mE JE OmopI_ Ho$ g_mZwnmVr h¡& ~r_mboIZ Ho$
AmYma na, gwajm H$mo ñdrH¥$V `m AñdrH¥$V H$aZo H$m VWm C{MV
àr{_`_ `m g§emo{YV eVm], `{X H$moB© hm|, H$s à`moÁ`Vm na {ZU©` {b`m
OmVm h¡&
62. `yAmB©EZ H$m AW© h¡ AmB©AmaS>rEAmB© Ûmam Bg `moOZm H$mo Amd§{Q>V
AZÝ` nhMmZ g§»`m&
63. {Z{hV ~moZg dh gmYmaU àË`mdVu ~moZg (`{X H$moB© hmo) {OgH$s KmofUm
nhbo hr H$a Xr JB© h¡ Am¡a Omo nm°{bgr go gå~Õ ahVm h¡&
LIC's New Endowment Plan Page 7 of 20
anniversaries. This period includes the first day and excludes
the next policy anniversary day.
44. Premium is the contractual amount payable by the
Policyholder at specified times periodically as mentioned in the
Schedule of this Policy Document to secure the benefits under
the policy. The premium payable will be “Total Instalment
Premium” which includes
• Instalment Premium for Base Policy and
• Instalment Premium for Rider(s), if rider(s) has been opted
for.
The term ‘Premium’ used anywhere in this Policy Document
does not include any taxes which is payable separately.
45. Proposer is a person who proposes the life insurance proposal.
46. Revival of a policy means restoration of the policy, which was
discontinued due to non-payment of premium, by the insurer
with all the benefits mentioned in the policy document, with or
without rider benefits if any, upon the receipt of all the
premiums due and other charges or late fee, if any, as per the
terms and conditions of the policy, upon being satisfied as to
the Continued Insurability of the Life Assured and/or
Proposer (if LIC’s Premium Waiver Benefit Rider is opted for).
47. Revival Period means the period of five consecutive years
from the date of first unpaid premium, during which period the
policyholder is entitled to revive the policy which was
discontinued due to the non-payment of premium.
48. Rider is an additional cover which can be opted for along with
base plan.
49. Rider Benefits means an amount of benefit payable on a
specified event offered under the rider, and is allowed as add-
on benefit to benefit under Base Policy.
50. Rider Premium is the premium payable by the policyholder
along with the premium under Base Policy towards the
additional cover/benefit opted under the rider, if opted.
51. Rider Sum Assured is the assured amount payable on
happening of a specified event covered under the rider, if
opted.
52. Schedule is the part of policy document that gives the specific
details of your policy.
53. Simple Reversionary Bonus is the surplus/profit declared at
the end of each financial year by the Corporation based on the
Corporation’s experience to the Participating policies and
added to the benefits under the policy as per terms and
conditions as specified in the policy document.
54. Settlement Option: Settlement Option, as specified in
Condition 9 of Part D of this Policy Document, is an option
available under this Policy, to receive Maturity Benefit in
instalments instead of lumpsum amount over a period chosen
by the Policyholder/ Life Assured.
55. Sum Assured on Death means an absolute amount of benefit
which is guaranteed to become payable on death of life
assured in accordance with the terms and conditions of the
policy.
56. Sum Assured on Maturity means the amount which is
guaranteed to become payable on maturity of the policy, in
accordance with the terms and conditions of the policy.
57. Surrender means complete withdrawal or termination of the
entire policy before expiry of the policy term.
58. Surrender Value means an amount, if any, that becomes
payable in case of surrender in accordance with the terms and
conditions of the policy.
59. Tabular premium is the premium for the chosen Basic Sum
Assured on the age of the Life Assured without application of
any rebate or extra loading.
60. Total Premiums paid means the total of all premiums received,
excluding any extra premium, any rider premium and taxes.
61. Underwriting is the term used to describe the process of
assessing risk and ensuring that the cost of the cover is
proportionate to the risks faced by the individual concerned.
Based on underwriting, a decision on acceptance or rejection
of cover as well as applicability of suitable premium or modified
terms, if any, is taken.
62. UIN means the Unique Identification Number allotted to this
plan by the IRDAI.
63. Vested Bonus is the simple reversionary bonus, if any, which
has already been declared and remains attached to the policy.
Plan No.- 914
 ^mJ-'gr': {hVbm^
1. EH$ Mmby nm°{bgr Ho$ A§VJ©V {ZåZ{bpIV {hVbm^ Xo` h¢:
H$. _Ë¥`w {hVbm^: n[an¹$Vm H$s {Z`V VmarI go ndy© ~r{_V ì`pŠV H$s _Ë¥`w
H$s pñW{V _| X`o _Ë¥`w {hVbm^, {Z{hV gmYmaU ~mZogm| H$o Ama¡ {H$gr
A{§V_ A{V[aŠV ~mZog H$o gmW ''_Ë¥`w na ~r_m am{e'' hmJom&
{Og_| {H$ ''_Ë¥`w na ~r_m am{e'' H$m,o _b y ~r_m am{e `m dm{fH©$ àr{_`_
H$o 7 JUwm _| Omo ^r A{YH$ hm,o H$o ê$n _| n[a^m{fV {H$`m J`m h&¡
_¥Ë`w {hVbm^, _¥Ë`w H$s VmarI VH$ AXm {H$E JE àr{_`_m| ({H$gr
^r A{V[aŠV àr{_`_, AZwd¥{Õ àr{_`_ Am¡a H$am| H$mo N>mo‹S>H$a) Ho$
105 à{VeV go H$_ Zht hmoJm&
_¥Ë`w {hVbm^ H$m ^wJVmZ Zm{_{V`m| H$mo nm°{bgrYmaH$/ ~r{_V
ì`pŠV Ho$ M`Z Ho$ AZwgma D$na {d{Z{X©ï> VarHo$ go Am¡a/ AWdm
{H$íVm| _| {H$`m OmEJm O¡gm{H$, Bg nm°{bgr Ho$ ^mJ 'S>r' H$s eV©
8 _| {d{Z{X©ï> {H$`m J`m h¡&
I. n[an¹$Vm {hVbm^: n[an¹$Vm H$s VmarI VH$ ~r{_V ì`pŠV Ho$
Or{dV ahZo na `{X nm°{bgr Mmby h¡ Vmo {Z{hV gmYmaU àË`mdVu
~moZg Am¡a {H$gr A{V[aŠV ~moZg Ho$ gmW ''n[an¹$Vm na ~r_m
am{e'' Xo` hmoJr, {Og_| ''n[an¹$Vm na ~r_m am{e'', _yb ~r_m
am{e Ho$ g_mZ h¡&
nm°{bgrYmaH$/~r{_V ì`pŠV Ho$ nmg `h {dH$ën hmoJm {H$ dh
n[an¹$Vm {hVbm^ Cn`w©ŠV VarHo$ go EH$_wíV àmá H$a gH$Vm/
gH$Vr h¡ `m {H$íVm| _| ({ZnQ>mZ {dH$ën) O¡gm{H$ Bg nm°{bgr
XñVmdoO Ho$ ^mJ ''S>r'' H$s eV© 9 _| {d{Z{X©ï> h¡&
2. AZwd¥{Õ {hVbm^ :
Bg nm°{bgr Ho$ A§VJ©V {ZåZ{bpIV nm§M AZwd¥{Õ {hVbm^ CnbãY h¢:
H$. Eb. AmB©. gr. H$s XþK©Q>ZmJV _¥Ë`w Ed§ An§JVm {hVbm^ AZwd¥{Õ
(`yAmB©EZ: 512B209V02)
I. Eb. AmB.© gr. H$s ZB© Ad{Y ~r_m AZdw{¥Õ (`A y mBE©Z: 512B210V01)
J. Eb. AmB.© gr. H$s XKþQ©>Zm {hVbm^ AZdw{¥Õ (`A y mBE©Z: 512B203V03)
K. Eb. AmB©. gr. H$s ZB© J§^ra amoJ {hVbm^ AZwd¥{Õ
(`yAmB©EZ: 512A212V01)
L. Eb. AmB©. gr. H$s àr{_`_ AZwJ«h {hVbm^ AZwd¥{Õ
(`yAmB©EZ: 512B204V03)
VWm{n, `mo½` ~r{_V ì`pŠV, Eb. AmB©. gr. H$s XþK©Q>ZmJV _¥Ë`w Ed§
An§JVm AZwd¥{Õ Am¡a Eb. AmB©. gr. H$s XþK©Q>Zm {hVbm^ AZwd¥{Õ _| go
EH$ H$m hr M`Z H$a gH$Vm h¡&
Eb. AmB©. gr. H$s XþK©Q>ZmJV _¥Ë`w Ed§ An§JVm {hVbm^ AZwd¥{Õ/
XþK©Q>Zm {hVbm^ AZwd¥{Õ: EH$ Mmby nm°{bgr Ho$ A§VJ©V, BZ XmoZm| _| go
EH$ AZwd¥{Õ H$m M`Z, _yb nm°{bgr H$s Ad{Y Ho$ Xm¡amZ {H$gr ^r g_`
{H$`m Om gH$Vm h¡ ~eV} {H$ _yb nm°{bgr Ho$ gmW gmW AZwd¥{Õ H$s eof
àr{_`_ ^wJVmZ Ad{Y H$_ go H$_ nm§M df© hmo, qH$Vw `h M`Z nm°{bgr
H$s Cg df©Jm§R> go nyd© {H$`m OmZm Mm{hE, {Og na ~r{_V ì`pŠV H$s
Am`w {ZH$Q>V_ OÝ_ {Xdg na 65 df© hmo& Zm~m{bJm| Ho$ OrdZ na Omar
nm°{bgr Ho$ A§VJ©V, `h AZwd¥{Õ {d{eï> AZwamoY àmá hmoZo na, 18 df©
H$s Am`w nyU© hmoZo Ho$ ~mX H$s nm°{bgr df©Jm§R> go CnbãY hmoJr&
Eb. AmB.© gr. H$s àr{_`_ AZJwh« {hVbm^ AZdw{¥Õ: EH$ Mmby nm{°bgr H$o
AV§JV©, nm{°bgr H$o àñVmdH$ H$o OrdZ na (Š`m{|H$ ~r{_V ì`pŠV Zm~m{bJ
h)¡ Bg AZdw{¥Õ H$m M`Z, nm{°bgr dfJ©mR§> na {H$gr ^r g_` qH$Vw _b
nm{°bgr H$o àr{_`_ H$o ^JwVmZ H$s Ad{Y H$o Xma¡mZ {H$`m Om gH$Vm h¡ ~eV}
{H$ _b y nm{°bgr Ama¡ AZdw{¥Õ H$o àr{_`_ H$s ^JwVmZ Ad{Y H$_ go H$_
nmM§ df© efo hm&o gmW hr, Bg AZdw{¥Õ H$s AZ_w{V Cg nm{°bgr H$o AV§JV©
Xr OmEJr, {OZ_| `h AZdw{¥Õ MZwZo H$o g_` ~r{_V ì`pŠV Zm~m{bJ hmJom&
AZdw{¥Õ H$s Ad{Y, Bg AZdw{¥Õ H$o M`Z H$s {V{W na _b y nm{°bgr H$o efo
àr{_`_ ^JwVmZ H$s Ad{Y AWdm Bg AZdw{¥Õ H$o M`Z H$o g_` na ~r{_V
Zm~m{bJ H$s Am`w 25 _| go KQ>mH$a AmZdombr Ad{Y, XmZom| _| go Omo ^r
H$_ hm,| dh hmJor&
`{X Bg AZdw{¥Õ H$m M`Z {H$`m OmVm h¡ Vmo àñVmdH$ H$s _Ë¥`w H$s pñW{V
_,| _Ë¥`w H$s VmarI H$o ~mX AZdw{¥Õ Ad{Y g_má hmZoo VH$ X`o hmZoo dmbo
_b y nm{°bgr go g~§{§YV àr{_`_m| H$o ^JwVmZ H$s AZJwh« Xo Xr OmEJr&
VWm{n, Eg o r pñW{V _| `{X _b y nm{°bgr H$o àr{_`_ ^JwVmZ H$s Ad{Y
AZdw{¥Õ Ad{Y go A{YH$ h¡ Vmo Bg àr{_`_ N>yQ> {hVbm^ AZdw{¥Õ Ad{Y
H$s g_m{á H$s VmarI VH$ _b y nm{°bgr H$o AV§JV© ^{dî` _| X`o g^r
àr{_`_m| H$m ^JwVmZ ~r{_V ì`pŠV H$mo H$aZm hmJom& Eg o o àr{_`_m| H$m ^JwVmZ
Z H$aZo na nm{°bgr, àXÎm nm{°bgr hmo OmEJr&
Eb. AmB©. gr. H$s ZB© Ad{Y ~r_m AZwd¥{Õ/ZB© J§^ra amoJ {hVbm^
AZwd¥{Õ: `o AZwd¥{Õ`m§ A{V[aŠV àr{_`_ Ho$ ^wJVmZ na Ho$db nm°{bgr
Ho$ àma§^ _| hr CnbãY h¢&
`{X AZwd¥{Õ`m| H$m M`Z {H$`m OmVm h¡ Vmo CZH$s eV] Bg nm°{bgr Ho$
n¥ð>m§H$Z Ho$ ê$n _| g§b¾ h¢&
3. Zm~m{bJ$ Ho$ OrdZ na Omar nm°{bgr H$m {Z{hV hmoZm: `{X ~r{_V ì`pŠV
LIC's New Endowment Plan Page 8 of 20
PART - C: BENEFITS
1. The following benefits are payable under an in-force
policy:
A. Death Benefit: Death benefit payable in case of death of
the Life Assured before the stipulated Date of Maturity
provided the policy is in-force shall be “Sum Assured on
Death” along with vested Simple Reversionary Bonuses
and Final Additional Bonus, if any.
Where, “Sum Assured on Death” is defined as higher of
Basic Sum Assured or 7 times of Annualized Premium.
This death benefit shall not be less than 105% of total
premiums paid (excluding any extra premium, any rider
premium and taxes) upto the date of death.
The Death Benefit shall be paid in lumpsum as specified
above and/or in instalments, as specified in Condition 8 of
Part D of this Policy Document, as per the option exercised
by the Policyholder/Life Assured.
B. Maturity Benefit: On Life Assured surviving the stipulated
Date of Maturity provided the policy is in-force, “Sum
Assured on Maturity” along with vested Simple
Reversionary Bonuses and Final Additional Bonus, if any,
shall be payable. Where “Sum Assured on Maturity” is
equal to Basic Sum Assured.
The Policyholder/Life Assured shall have an option to
receive the Maturity benefit in lumpsum as specified above
and/or in instalments (Settlement Option), as specified in
Condition 9 of Part D of this Policy Document.
2. Rider Benefits:
The following five riders are available under this policy:
A. LIC’s Accidental Death and Disability Benefit Rider (UIN:
512B209V02)
B. LIC’s New Term Assurance Rider (UIN: 512B210V01)
C. LIC’s Accident Benefit Rider (UIN: 512B203V03)
D. LIC’s New Critical Illness Benefit Rider (UIN: 512A212V01)
E. LIC’s Premium Waiver Benefit Rider (UIN: 512B204V03)
However, the eligible Life Assured can opt between either of
the LIC’s Accidental Death and Disability Rider or LIC’s
Accident Benefit Rider.
LIC’s Accidental Death and Disability Benefit Rider / LIC’s
Accident Benefit Rider: Under an in-force policy either of
these riders can be opted for at any time within the policy term
of the Base Policy provided, the outstanding premium paying
term of the Base Policy as well as the rider is at least five years
but before the policy anniversary on which the age nearer
birthday of the Life Assured is 65 years. Under the policy on the
life of minors, this rider will be available from the policy
anniversary following completion of age 18 years on receipt of
specific request.
LIC’s Premium Waiver Benefit Rider: Under an in-force
y policy, this rider can be opted for on the life of Proposer of the
policy (as the Life assured is minor), at any time coinciding with
the policy anniversary but within the premium paying term of
the Base Policy provided the outstanding premium paying term
of the Base Policy and the rider is at least five years. Further,
this rider shall be allowed under the policy wherein the Life
Assured is Minor at the time of opting this rider. The Rider term
shall be outstanding premium paying term of Base Policy as on
date of opting this rider or (25 minus age of the minor Life
Assured at the time of opting this rider), whichever is lower.
If this rider is opted for, on death of proposer, payment of
premiums in respect of base policy falling due after the date of
death till the expiry of rider term shall be waived. However, in
such case, if the premium paying term of the base policy exceeds
the rider term, all the further premiums due under the base policy
from the date of expiry of this Premium Waiver Benefit Rider term
shall be payable by the Life Assured. On non-payment of such
premiums the policy would become paid-up.
LIC’s New Term Assurance Rider/LIC’s New Critical Illness
Benefit Rider: These riders are available only at the inception
of the policy on payment of additional premium.
Conditions of rider(s), if opted, are enclosed as
endorsement to this policy.
3. Vesting of policy on the life of a minor: If the Life Assured is
alive on the date of vesting and if a request in writing for
Plan No.- 914
 {Z{hV hmoZo H$s VmarI na Or{dV h¡ Am¡a nm°{bgr H$s YZam{e`m| H$mo àmá
H$aZo Ho$ A{YH$mar ì`pŠV go, {Z{hV hmoZo VH$ H$s VmarI VH$ nm°{bgr
Ho$ Aä`n©U H$m {bpIV AZwamoY {ZJ_ H$mo àmá Zht hþAm h¡ Vmo {Z{hV
hmoZo H$s Eogr VmarI H$mo `h nm°{bgr ñdV: ~r{_V ì`pŠV _| {Z{hV hmo
OmEJr&
4. bm^ _| à{V^mJr: ~eV} {H$ nm°{bgr Mmby hmo, {ZJ_ Ho$ AZw^d na {Z^©a
H$aVo hþE, g_`-g_` na g§emo{YV ^maVr` OrdZ ~r_m {ZJ_
A{Y{Z`_, 1956 Ho$ à`moÁ` àmdYmZm| Ho$ AZwgma, nm°{bgr bm^m| H$s
à{V^mJr hmoJr, Am¡a Eogr Xa Am¡a Eogr eVm], O¡gr{H$ {ZJ_ Ûmam Kmo{fV
H$s OmE§, na gmYmaU àË`mdVu ~moZg H$s nmÌ hmoJr&
àË`oH$ {dÎmr` df© Ho$ A§V _| ha gmb gmYmaU àË`mdVu ~moZg H$s
KmofUm H$s OmEJr ~eV} {H$ nm°{bgr nyar Vah Mmby hmo& EH$ ~ma Kmo{fV
{H$E OmZo Ho$ ~mX, `o ~moZg, `moOZm Ho$ Jma§Q>rH¥$V {hVbm^m| H$m {hñgm
~Z OmE§Jo& gmYmaU àË`mdVu ~moZg, nm°{bgr Ho$ àma§^ go boH$a MwZr JB©
nm°{bgr VH$ `m _¥Ë`w VH$ (`{X _¥Ë`w nhbo hmo OmE) Omo‹S>m OmEJm&
`{X àr{_`_m| H$m nyam ^wJVmZ Zht {H$`m J`m h¡ Vmo nm°{bgr ^{dî` Ho$
bm^m| Ho$ à{V^mJr Zht ahoJr, Mmho nm°{bgr Zo àXÎm _yë` H$mo àmá H$a
{b`m hmo `m Zht&
nm°{bgr Ho$ Aä`n©U H$s pñW{V _|, Aä`n©U H$s VmarI na bmJy {Z{hV
~moZgm| H$m Aä`©nUZ _yë`, Bg nm°{bgr XñVmdoO Ho$ ^mJ 'S>r' H$s eV©
4 Ho$ {d{ZX}e Ho$ AZwgma Xo` hmoJm&
A§{V_ àË`mdVu ~moZg H$s KmofUm ^r nm°{bgr Ho$ A§VJ©V Cg df© _| H$s
Om gH$Vr h¡ {Og_| _¥Ë`w AWdm n[an¹$Vm Ho$ H$maU nm°{bgr Xmdo _|
n[ad{V©V hmoVr h¡&
A§{V_ àË`mdVu ~moZg, àXÎm nm°{b{g`m| Ho$ A§VJ©V Xo` Zht hmoJm&
5. àr{_`_m| H$m ^wJVmZ:
H$) Bg nm°{bgr XñVmdoO H$s AZwgyMr Ho$ {d{ZX}e Ho$ AZwgma,
nm°{bgrYmaH$ H$mo g_`-g_` na bmJy H$am| g{hV, àr{_`_ H$m
^wJVmZ H$aZm hmoVm h¡&
I) {Og Mmby nm°{bgr Ho$ A§VJ©V, _¥Ë`w H$s VmarI VH$ Xo` g^r
àr{_`_m| H$m ^wJVmZ H$a {X`m J`m h¡ Am¡a {Og_| àr{_`_ ^wJVmZ
H$m àUmbr dm{f©H$ go AbJ h¡, CgHo$ A§VJ©V ~r{_V ì`pŠV H$s
_¥Ë`w H$s pñW{V _|, _¥Ë`w H$s VmarI go AJbr nm°{bgr df©Jm§R> VH$
H$moB© àr{_`_ `{X eof hmoJm, Vmo dh Xmdm am{e _| go H$mQ> {b`m
OmEJm&
{ZJ_ Eogm H$moB© Zmo{Q>g Omar H$aZo Ho$ {bE ~mÜ` Zht h¡ {H$
àr{_`_ AWdm am{e Xo` hmo JB© h¡&
6. AZwJ«h Ad{Y:
dm{f©H$ `m AY©-dm{f©H$ `m Ì¡_m{gH$ àr{_`_m| Ho$ ^wJVmZ Ho$ {bE nhbo
AXÎm àr{_`_ H$s VmarI go 30 {XZ Am¡a _m{gH$ àr{_`_m| Ho$ ^wJVmZ
Ho$ {bE 15 {XZ H$s AZwJ«h Ad{Y H$s AZw_{V Xr OmEJr& `{X AZwJ«h
Ho$ {XZ g_má hmoZo go nyd© àr{_`_ H$m ^wJVmZ Zht {H$`m OmVm h¡ Vmo
nm°{bgr H$mbmVrV hmo OmEJr&
`{X ~r{_V ì`pŠV H$s _¥Ë`w AZwJ«h-Ad{Y Ho$ Xm¡amZ qH$Vw Xo` àr{_`_
AXm H$aZo go nyd© hmo OmVr h¡ Vmo nm°{bgr V~ ^r d¡Y ahoJr Am¡a Cn`w©ŠV
AXÎm àr{_`_ VWm _¥Ë`w H$s VmarI go AJbr nm°{bgr df©Jm§R> VH$ Xo`
àr{_`_ Ho$ gmW {H$gr eof àr{_`_m| H$s am{e H$mQ>H$a, {hVbm^m| H$m
^wJVmZ {H$`m OmEJm&
Cn`w©ŠV AZwJ«h Ad{Y CZ AZwd¥{Õ àr{_`_m| na ^r bmJy hmoJr, Omo _yb
~r_m nm°{bgr àr{_`_ Ho$ gmW hr Xo` hmoVo h¢&
^mJ - 'S>r': godm nj go g§~§{YV eV]
1. Am`w H$m à_mU: My§{H$ àr{_`_m| H$s JUZm, àñVmd nÌ _| ~r{_V ì`pŠV
H$s Kmo{fV Am`w Ho$ AmYma na H$s JB© h¡, Bg{bE `{XAm`w Eogr Kmo{fV
Am`w go A{YH$ nmB© OmVr h¡ Vmo g_`-g_` na g§emo{YV ~r_m
A{Y{Z`_, 1938 Ho$ A§VJ©V àmá A{YH$mam| Am¡a Cnm`m| g{hV, {ZJ_
Ho$ AÝ` A{YH$mam| VWm Cnm`m| na H$moB© à{VHy$b à^md S>mbo {~Zm, àdoe
Ho$ g_` H$s ghr Am`w Ho$ g_` nm°{bgr H$s pñW{V Ho$ AZwgma g§~§{YV
~r_m am{e na VWm AZwd¥{Õ ~r_m am{e (`{X H$moB© hmo) na JUZm H$s Xa
go àr{_`_ Xo` hmoJm Am¡a nm°{bgr àma§^ hmoZo go boH$a, Eogo ^wJVmZ H$s
VmarI VH$ ghr Am`w Ho$ àr{_`_m| Am¡a _m¡{bH$ àr{_`_m| Ho$ g§{MV A§Va
H$m ^wJVmZ {ZJ_ H$mo ã`mO g{hV Cg Xa na Xo` hmoJm, {OgH$m {ZYm©aU
{ZJ_ g_`-g_` na H$aoJm& VWm{n, `{X ~r{_V ì`pŠV/ àñVmdH$ `hm§
{bpIV Xam| na àr{_`_m| H$m ^wJVmZ Omar aIVm h¡ Am¡a Cn`w©ŠV g§{MV
F$U H$m ^wJVmZ Zht H$aVm h¡ Vmo nm°{bgr àma§^ hmoZo go nm°{bgr Ho$ Xmdo
_| n[ad{V©V hmoZo VH$, R>rH$ Am`w Ho$ àr{_`_m| Am¡a _m¡{bH$ àr{_`_m| H$m
g§{MV A§Va, Eogo A§Va H$s àË`oH$ {H$íV na {ZJ_ Ûmam g_`-g_` na
LIC's New Endowment Plan Page 9 of 20
surrendering the policy has not been received by Corporation
before such date of vesting from the person entitled to the
policy moneys, this policy shall automatically vest in the Life
Assured on such vesting date.
4. Participation in profits: Provided the policy is in-force,
depending upon the Corporation's experience, the policy shall
participate in profits in accordance with the applicable
provisions of LIC Act, 1956, as amended from time to time, and
shall be eligible for simple reversionary bonus at such rate and
on such terms as may be declared by the Corporation.
Simple Reversionary Bonuses shall be declared annually at
the end of each financial year provided the policy is in-force.
Once declared, they form part of the guaranteed benefits of the
plan. Simple Reversionary Bonuses will be added from the
date of commencement of policy until the selected policy term
or till death, if it occurs earlier.
In case the premiums are not duly paid, the policy shall cease
to participate in future profits irrespective of whether or not the
policy has acquired paid-up value.
In the event of policy being surrendered, the surrender value of
vested bonuses, if any, as applicable on the date of surrender,
will be payable as specified in Condition 4 of Part D of this
Policy Document.
Final Additional Bonus may also be declared under the policy in
the year when the policy results into a claim either by death or
maturity.
Final Additional Bonus shall not be payable under paid-up
policies.
5. Payment of Premiums:
a) The policyholder has to pay the Premium on the due dates
as specified in the Schedule of this Policy Document along
with applicable taxes, if any, from time to time.
b) In case of death of Life Assured under an in-force policy
wherein all the premiums due till the date of death have
been paid and where the mode of payment of premium is
other than yearly, balance premium(s), if any, falling due
from the date of death and before the next policy
anniversary shall be deducted from the claim amount.
The Corporation does not have any obligation to issue a
notice that premium is due or for the amount that is due.
6. Grace Period:
A grace period of 30 days shall be allowed for payment of
yearly or half yearly or quarterly premiums and 15 days for
monthly premiums from the date of First unpaid premium. If the
premium is not paid before the expiry of the days of grace, the
Policy lapses.
If the death of the Life Assured occurs within the grace period
but before the payment of the premium then due, the policy will
still be valid and the benefits shall be paid after deductions of
the said unpaid premium as also the balance premium(s), if
any, falling due from the date of death and before the next
policy anniversary.
The above grace period will also apply to rider premiums which
are payable along with premium for base policy.
PART - D:
CONDITIONS RELATED TO SERVICING ASPECTS
1. Proof of Age: The premiums having been calculated on the
age of the Life Assured as declared in the Proposal, in case the
age is found higher than such age, without prejudice to the
Corporation’s other rights and remedies, including those under
the Insurance Act, 1938, as amended from time to time, the
premiums shall be payable in such case at the rate calculated
on the Basic Sum Assured and Rider(s) Sum Assured, if opted
for, the correct age at entry, and the accumulated difference
between the premiums for the correct age and the original
premiums, from the commencement of the Policy upto the date
of such payment shall be paid to the Corporation with interest
at such rate as fixed by the Corporation from time to time.
However, in case the Life Assured/Proposer continues to pay
the premiums at the rates shown herein, and also does not pay
the above mentioned accumulated debt, the accumulated
difference between the premiums for the correct age and the
original premiums from the commencement of this Policy up to
the date on which the Policy becomes a claim, with interest on
each instalment of such difference at such rate as may be
Plan No.- 914
 {Z`V Xa na ã`mO g{hV Cn{MV hmo OmEJm, Omo Cg nm°{bgr na ~r{_V
ì`pŠV/ àñVmdH$ Ûmam Xo` F$U _mZm OmEJm Am¡a CgH$s am{e, nm°{bgr
Ho$ Xmdo _| n[ad{V©V hmoZo na Xo` nm°{bgr _wÐm _| go H$mQ> br OmEJr&
BgHo$ A{V[aŠV `h ^r eV© h¡ {H$ `{X àdoe Ho$ g_` ~r{_V ì`pŠV H$s
ghr Am`w Eogr h¡ {Oggo {H$ Cn`w©ŠV AZwgyMr _| {d{Z{X©ï> dJ© `m ~r_m
eVm] Ho$ A§VJ©V ~r_o Ho$ A`mo½` hmo OmVm Vmo dJ© Am¡a ~r_m g§~§Yr eV]
n[ad{V©V hmoH$a, ~r_o H$s Eogr `moOZm hmo OmE§Jr, O¡gm{H$ Bg nm°{bgr Ho$
àma§^ Ho$ g_` Mmby à{H«$`m Ho$ AZwgma {ZJ_ Ûmam àXmZ H$s OmVr h¢
Am¡a Eogm nm°{bgrYmaH$ H$s gh_{V go {H$`m OmEJm AÝ`Wm nm°{bgr
{ZañV H$a Xr OmEJr&
2. OãVr Am¡a J¡a-OãVr {d{Z`_:
2. Forfeiture and Non-forfeiture Regulations:
OãVr {d{Z`_:
I. gr{_V àr{_`_ ^wJVmZ nm°{b{g`m| Ho$ _m_bo _|, `{X Bg nm°{bgr Ho$
{bE Xmo df© go H$_ H$m àr{_`_ AXm {H$`m J`m h¡ Am¡a CgHo$ ~mX
Xo` H$moB© àr{_`_ AXm Zht {H$`m J`m h¡ Vmo AZwJ«h H$s Ad{Y
g_má hmoZo Ho$ nümV nhbo AXÎm àr{_`_ H$s VmarI go g^r
{hVbm^ g_má hmo OmE§Jo Am¡a Hw$N> ^r Xo` Zht hmoJm VWm V~ VH$
AXm {H$E JE àr{_`_ ^r dmngr `mo½` Zht hm|Jo&
ii. Hw$N> AÝ` pñW{V`m| _| OãVr: `{X `hm§ {Z{hV AWdm n¥ð>m§{H$V {H$gr
eV© H$m C„§KZ hmoVm h¡ AWdm `{X Eogm nm`m OmVm h¡ {H$ àñVmd
nÌ _|, ì`pŠVJV ~`mZ/H$WZ _|, KmofUm Am¡a g§~§{YV XñVmdoOm| _|
H$moB© AgË` AWdm JbV ~`mZ {Z{hV h¡ `m H$moB© _hËdnyU© gyMZm
{N>nmB© JB© h¡ Vmo V~ Am¡a Eogo àË`oH$ _m_bo _| `h nm°{bgr ^§J hmo
OmEJr Am¡a Bg H$maU go, {H$gr ^r {hVbm^ Ho$ Xmdm| na, g_`-
g_` na g§emo{YV ~r_m A{Y{Z`_, 1938 H$s Ymam 45 Ho$
àmdYmZ bmJy hm|Jo&
J¡a-OãVr {d{Z`_:
`{X H$_ go H$_ Xmo dfm] H$m nyU© àr{_`_ AXm H$a {X`m J`m h¡ Am¡a
CgHo$ nümV Ho$ àr{_`_ AXm Zht {H$E JE h¢ Vmo `h nm°{bgr nyar Vah
eyÝ` Zht hmoJr ~pëH$ EH$ àXÎm nm°{bgr Ho$ ê$n _| ~Zr ahoJr&
àXÎm nm°{bgr Ho$ A§VJ©V _¥Ë`w na ~r_m am{e KQ> H$a Eogr am{e ah
OmEJr, {Ogo _¥Ë`w àXÎm ~r_m am{e H$hm OmVm h¡ Am¡a `h am{e, _yb ê$n
go Xo` àr{_`_ ^wJVmZ H$s A{YH$V_ Ad{Y Am¡a nhbo go hr ^wJVmZ
H$a {XE JE àr{_`_ H$s Hw$b Ad{Y Ho$ AZwnmV go, _¥Ë`w na ~r_m am{e
H$mo JwUm H$aHo$ AmB© am{e Ho$ g_mZ hmoJr& _¥Ë`w àXÎm ~r_m am{e Ho$
A{V[aŠV, `{X H$moB© gmYmaU àË`mdVu ~moZg {Z{hV hmoJm, CgH$m
^wJVmZ ^r _¥Ë`w na Xo` hmoJm&
àXÎm nm°{bgr Ho$ A§VJ©V n[an¹$Vm na ~r_m am{e KQ>H$a Eogr am{e ah
OmEJr {Ogo ''n[an¹$Vm àXÎm ~r_m am{e'' H$hm OmVm h¡ Am¡a `h am{e,
_yb ê$n go Xo` àr{_`_ ^wJVmZ H$s A{YH$V_ Ad{Y Am¡a nhbo go hr
^wJVmZ H$a {XE JE àr{_`_ H$s Hw$b Ad{Y Ho$ AZwnmV go, n[an¹$Vm
na ~r_m am{e H$mo JwUm H$aHo$ AmB© am{e Ho$ g_mZ hmoJr& n[an¹$Vm àXÎm
~r_m am{e Ho$ A{V[aŠV `{X H$moB© gmYmaU àË`mdVu ~moZg {Z{hV hmoJm,
dh ^r n[an¹$Vm na Xo` hmoJm&
àXÎm nm°{bgr ^{dî` Ho$ bm^ H$s ^mJrXmar Ho$ {bE J«mø Zht hmoJr&
VWm{n, `{X H$moB© {Z{hV gmYmaU àË`mdVu ~moZg hmoJm Vmo dh KQ>r hþB©
àXÎm nm°{bgr go gå~Õ ahoJm&
D$na Mmho Hw$N> ^r C„oI {H$`m J`m hmo, `{X Bg nm°{bgr Ho$ g§~§Y _| 3
nyU© dfm] H$m àr{_`_ AXm H$a {X`m J`m h¡ Am¡a CgHo$ ~mX Ho$ àr{_`_m|
H$m {d{YdV² ^wJVmZ Zht hþAm h¡ Vmo nhbo AXÎm àr{_`_ H$s Xo` VmarI
go N>h _hrZo Ho$ A§Xa ~r{_V ì`pŠV H$s _¥Ë`w hmoZo H$s pñW{V _|, (H$)
_yb ~r_m nm°{bgr Ho$ {bE _¥Ë`w H$s VmarI VH$ Eogr Ad{Y Ho$ Xm¡amZ
nm°{bgr Ho$ nwZM©bZ Ho$ g_mZ eVm] na, ã`mO g{hV AXÎm àr{_`_;
Am¡a (I) _¥Ë`w H$s VmarI go Am¡a AJbr nm°{bgr df©Jm§R> go nyd© _yb
nm°{bgr na Xo` hmoZo dmbo eof àr{_`_m| H$mo H$mQ>H$a ''_¥Ë`w na ~r_m
am{e'' H$m ^wJVmZ {H$`m OmEJm& `h àmdYmZ AmË_hË`m go hþB© _¥Ë`w H$s
pñW{V _| bmJy Zht hmoJm&
D$na Mmho Hw$N> ^r C„oI {H$`m J`m hmo, `{X Bg nm°{bgr Ho$ g§~§Y _|
H$_ go H$_ nm§M nyU© dfm] Ho$ àr{_`_ H$m ^wJVmZ hmo J`m h¡ Am¡a CgHo$
~mX Ho$ àr{_`_m| H$m {d{YdV² ^wJVmZ Zht {H$`m J`m h¡ Vmo nhbo AXÎm
àr{_`_ H$s Xo` VmarI go 12 _mh Ho$ A§Xa ~r{_V ì`pŠV H$s _¥Ë`w hmoZo
H$s pñW{V _| (H$) _yb ~r_m nm°{bgr Ho$ {bE _¥Ë`w H$s VmarI VH$ Eogr
Ad{Y Ho$ {bE nm°{bgr Ho$ nwZM©bZ Ho$ g_mZ eVm] na, ã`mO g{hV
AXÎm àr{_`_; Am¡a (I) _¥Ë`w H$s VmarI go Am¡a AJbr nm°{bgr
df©Jm§R> go nyd© _yb nm°{bgr na Xo` hmoZo dmbo àr{_`_m| H$mo H$mQ>H$a
''_¥Ë`w na ~r_m am{e'' H$m ^wJVmZ, {Z{hV gmYmaU àË`mdVu ~moZg
Am¡a A{V[aŠV ~moZg (`{X H$moB© hmo) Ho$ gmW {H$`m OmEJm& `h àmdYmZ
AmË_hË`m go hþB© _¥Ë`w H$s pñW{V _| bmJy Zht hmoJm&
LIC's New Endowment Plan Page 10 of 20
fixed by the Corporation from time to time , shall accrue and be
treated as a debt due by the Life Assured / Proposer against the
said Policy and shall be deducted from the Policy moneys
payable on the Policy becoming a claim.
Provided further that if the Life Assured’s correct age at entry is
such as would have made him/her uninsurable under the class
or terms of assurance specified in the said Schedule hereto,
the class or terms shall stand altered to such Plan of Assurance
as are granted by the Corporation according to the practice in-
force at the commencement of this policy subject to the
consent of the Policyholder, otherwise the policy will be
cancelled.
Forfeiture Regulations:
i. If less than two years’ premiums have been paid in respect
of this policy and any subsequent premium be not duly
paid, all the benefits under this policy shall cease after the
expiry of grace period from the date of first unpaid premium
and nothing shall be payable, and the premiums paid
thitherto are also not refundable.
ii. Forfeiture in Certain Other Events: In case any condition
herein contained or endorsed hereon be contravened or in
case it is found that any untrue or incorrect statement is
contained in the proposal, personal statement, declaration
and connected documents or any material information is
withheld, then and in every such case this policy shall be
void and all claims to any benefit in virtue of this policy shall
be subject to the provisions of Section 45 of the Insurance
Act, 1938, as amended from time to time.
Non-forfeiture Regulations:
If after at least two full years’ premiums have been paid and any
subsequent premiums be not duly paid, this policy shall not be
wholly void, but shall subsist as a paid-up policy till the end of
the policy term.
The Sum Assured on Death under a paid-up policy shall be
reduced to such a sum called Death Paid-up Sum Assured
and shall be equal to Sum Assured on Death multiplied by the
ratio of the total period for which premiums have already been
paid bears to the maximum period for which premiums were
originally payable. In addition to the Death Paid-up Sum
Assured, the vested Simple Reversionary Bonus, if any shall
also be payable on death.
The Sum Assured on Maturity under a paid-up policy shall be
reduced to such a sum called ‘Maturity Paid-up Sum
Assured’ and shall be equal to Sum Assured on Maturity
multiplied by the ratio of the total period for which premiums
have already been paid bears to the maximum period for which
premiums were originally payable. In addition to the Maturity
Paid-up Sum Assured, the vested Simple Reversionary Bonus,
if any shall also be payable on maturity.
A paid-up policy shall not be entitled to participate in future
profits. However, the vested Simple Reversionary bonuses, if
any, shall remain attached to the reduced paid-up policy.
Notwithstanding what is stated above, if atleast 3 full years’
premiums have been paid in respect of this policy, and any
subsequent premium be not duly paid, in the event of the death
of the Life Assured within six months from the due date of first
unpaid premium, “Sum Assured on Death” along with vested
simple reversionary bonuses and final additional bonus, if any,
will be paid after deduction of (a) the unpaid premium (s) for the
Base Policy with interest thereon upto the date of death, on the
same terms as for revival of the Policy during such period, and
(b) the balance premium(s) for the base policy falling due from
the date of death and before the next policy anniversary. This
provision shall not apply in case of death due to Suicide.
Notwithstanding what is stated above, if at least five full years'
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 12 months from the due date of first
unpaid premium, “Sum Assured on Death” along with vested
simple reversionary bonuses and final additional bonus, if any,
will be paid after deduction of (a) the unpaid premium(s) for the
Base Policy with interest thereon upto the date of death, on the
same terms as for revival of the Policy during such period and
(b) the balance premium(s) for the base policy falling due from
the date of death and before the next policy anniversary. This
provision shall not apply in case of death due to Suicide.
Plan No.- 914
 Cn`w©ŠV J¡a-OãVr {d{Z`_ AZwd¥{Õ`m| na bmJy Zht hmoJ|, Š`m|{H$
AZwd¥{Õ`m§ H$moB© àXÎm _yë` A{O©V Zht H$aVr& `{X nm°{bgr H$mbmVrV
AdñWm _| h¡ Vmo AZwd¥{Õ`m§ bmJy Zht ahVr&
3. H$mbmVrV nm°{b{g`m| H$m nwZM©bZ: AZwJ«h H$s Ad{Y Ho$ A§Xa Xo`
àr{_`_ H$m ^wJVmZ Z {H$E OmZo na ~r_m nm°{bgr H$mbmVrV hmo OmEJr&
H$mbmVrV AdñWm dmbr nm°{bgr H$mo ~r{_V ì`pŠV Ho$ OrdZH$mb _|
qH$Vw, `WmpñW{V, nwZM©bZ Ad{Y Ho$ Xm¡amZ n[an¹$Vm H$s VmarI go
nhbo nwZM©{bV {H$`m Om gH$Vm h¡& àr{_`_m| H$s gmar ~H$m`m am{e`m| H$m
^wJVmZ, g_`-g_` na {ZJ_ Ûmam V` ã`mO Xa na ã`mO (AY©-
dm{f©H$ g§`moOZ Ho$ gmW) g{hV H$aZo na Am¡a nm°{bgrYmaH$/~r{_V
ì`pŠV/àñVmdH$ Ûmam, nwZM©bZ Ho$ g_` {ZJ_ H$s ~r_mboIZ Zr{V Ho$
AZwgma nhbo go CnbãY gyMZm, XñVmdoOm| Am¡a [anmoQ>m] Ho$ AmYma na
Am¡a Bg {df` _| _m§Jr JB© {H$gr A{V[aŠV gyMZm Ho$ AmYma na ~r{_V
ì`pŠV Am¡a/AWdm àñVmdH$ (`{X OrdZ ~r_m {ZJ_ H$s àr{_`_ AZwJ«h
{hVbm^ AZwd¥{Õ MwZr JB© h¡) H$s {Za§Va ~r_m`mo½`Vm Ho$ {df` _| g§Vwï>
hmoZo na, nwZM©bZ Mmby {H$`m OmEJm&
VWm{n, {H$gr g_má nm°{bgr Ho$ nwZM©bZ H$mo _yb eVm] na ñdrH$ma
H$aZo, g§emo{YV eVm] na ñdrH$ma H$aZo `m AñdrH$ma H$aZo H$m A{YH$ma
{ZJ_ Ho$ nmg gwa{jV h¡& g_má nm°{bgr H$m nwZM©bZ V^r Mmby hmoJm
O~ {ZJ_ BgH$m AZw_moXZ H$a XoJm, Bgo ñdrH$ma H$aoJm Am¡a nwZM©bZ
agrX Omar H$a Xr OmEJr&
`{X AZdw{¥Õ (`m)| H$m M`Z {H$`m J`m h¡ Vmo CgH$o/CZH$o nZwMb © Z na _b
y Revival of Rider(s), if opted for, will only be considered along
nm{°bgr H$o nZwMb © Z H$o gmW hr {dMma {H$`m OmEJm, AbJ go Zht&
4. Aä`n©U: nm°{bgrYmaH$ Ûmam nm°{bgr Ad{Y Ho$ Xm¡amZ {H$gr ^r g_`
Aä`{n©V {H$`m Om gH$Vm h¡ ~eV} {H$ Xmo nyU© dfm] Ho$ àr{_`_ AXm H$a
{XE JE hm|& nm°{bgr Ho$ Aä`n©U na, Jma§Q>rH¥$V Aä`n©U _yë` Am¡a {deof
Aä`n©U _yë` _| go Omo A{YH$ hmoJm, CgHo$ ~am~a Aä`n©U _yë` {ZJ_
Ûmam AXm {H$`m OmEJm&
{deof Aä`n©U _yë` H$m nwZamdbmoH$Z {H$`m Om gH$Vm h¡ {OgH$m
{ZYm©aU {ZJ_ Ûmam g_`-g_` na AmB©AmaS>rEAmB© Ho$ AZw_moXZ Ho$
AYrZ {H$`m OmEJm&
nm°{bgr Ad{Y Ho$ Xm¡amZ Xo` Jma§Q>rH¥$V Aä`n©U _yë`, AXm {H$E JE Hw$b
àr{_`_m| ({H$gr A{V[aŠV àr{_`_ MwZr JB© AZwd¥{Õ`m| Ho$ àr{_`_ Am¡a
H$am| H$mo N>mo‹S>H$a) H$mo, nm°{bgr Ho$ A§VJ©V AXm {H$E JE Hw$b àr{_`_m|
na bmJy Jma§Q>rH¥$V Aä`n©U _yë` JwUH$ go JwUm H$a Ho$ àmá am{e Ho$
~am~a hmoJm& à{VeV Ho$ ê$n _| A{^ì`ŠV `o Jma§Q>rH¥$V Aä`n©U _yë`
JwUH$ nm°{bgr Ad{Y Am¡a nm°{bgr Aä`{n©V H$aZo Ho$ nm°{bgr df© na
{Z^©a H$aVo h¢, Omo Bg nm°{bgr XñVmdoO Ho$ n[a{eï>-4 _| {XE JE h¢&
BgHo$ A{V[aŠV, `{X {Z{hV gmYmaU àË`mdVu ~moZg H$s H$moB© am{e h¡
Vmo dh ^r Xo` hmoJr Omo {H$ {Z{hV ~moZg H$mo, {Z{hV ~moZg na bmJy
Jma§Q>rH¥$V Aä`n©U _yë` JwUH$ go JwUm H$aHo$ AmB© am{e Ho$ g_mZ hmoJm&
`o Jma§Q>rH¥$V Aä`n©U _yë` JwUH$ nm°{bgr Ad{Y na Am¡a nm°{bgr
Aä`n©U H$aZo Ho$ df© na {Z^©a hm|Jo Am¡a `o Bg nm°{bgr XñVmdoO Ho$
n[a{eï> - 5 _| {XE JE h¢&
`{X H$moB© AZwd¥{Õ (AZwd¥{Õ`m§) h¡ Vmo CZ na H$moB© Aä`n©U _yë`
CnbãY Zht hmoJm&
5. nm{°bgr na F$U: Bg nm{°bgr H$o AV§JV©, {ZåZ{bpIV {Z`_/eVm] H$o AYrZ,
nm{°bgr H$o Aä`nU© _ëy` VH$ H$m F$U CZ am{e`m| H$o {bE Ama¡ Ego r AÝ` eVm]
na CnbãY hmJom, Omo g_`-g_` na {ZJ_ Ûmam V` H$s OmEJ§r&
i. Xmo nyU© dfm] Ho$ àr{_`_m| H$m ^wJVmZ H$a XoZo na F$U {b`m Om
gH$Vm h¡&
ii. {X`m Om gH$Zo dmbm A{YH$V_ F$U, {ZåZmZwgma hmoJm:
• Mmby nm°{b{g`m| Ho$ {bE - Aä`n©U _yë` Ho$ 90 à{VeV VH$
• àXÎm nm°{b{g`m| Ho$ {bE - Aä`n©U _yë` Ho$ 80 à{VeV VH$
iii. àñVmdH$ Ûmam ~r{_V ì`pŠV H$s Ad`ñH$Vm Ho$ Xm¡amZ F$U {b`m
Om gH$Vm h¡, ~eV} {H$ F$U Zm~m{bJ ~r{_V ì`pŠV Ho$ H$ë`mU Ho$
{bE {b`m Om ahm hmo&
iv. nm°{bgr H$m nyU© g_ZwXoeZ {ZJ_ Ho$ nj _| {H$`m OmEJm Am¡a {ZJ_
nm°{bgr H$mo, F$U Am¡a CgHo$ ã`mO H$mo dmngr Ho$ {bE à{V^y{V Ho$
ê$n _| AnZo nmg aIoJm&
v. Bg nm°{bgr Ho$ A§VJ©V F$U boZo Ho$ g_` {ZJ_ Ûmam {d{Z{X©ï> H$s
OmZo dmbr Xa go, F$U na {ZJ_ H$mo ã`mO H$m ^wJVmZ AY©-dm{f©H$
MH«$d¥{Õ Ho$ AmYma na {H$`m OmEJm& bmJy hmoZo dmbr ã`mO Xa
AmB©AmaS>rEAmB© Ûmam AZw_mo{XV {d{Y na AmYm[aV hmoJr& ã`mO H$m
nhbm ^wJVmZ AJbr nm°{bgr df©Jm§R> go nyd© `m AJbr nm°{bgr
df©Jm§R> go N>h _hrZo nhbo H$s VmarI na (F$U-ñdrH¥${V H$s
VmarI Ho$ Vwa§V ~mX, BZ_| go Omo ^r nhbo hmo) {H$`m OmZm h¡ Am¡a
CgHo$ ~mX àË`oH$ AmYo df© na {H$`m OmZm h¡&
vi. `hm§ D$na C{„pIV Xo` VmarIm| na F$U na ã`mO Ho$ ^wJVmZ _|
MyH$ hmoZo H$s pñW{V _| `{X ~H$m`m F$U Am¡a ã`mO Aä`n©U _yë`
go A{YH$ hmo OmVm h¡ Vmo {ZJ_ Eogr nm°{b{g`m| H$m nyd©-g_mnZ
LIC's New Endowment Plan Page 11 of 20
All of the above mentioned Non-Forfeiture Regulations do not
apply to Riders as the riders do not acquire any paid-up value.
The riders cease to apply, if policy is in lapsed condition.
3. Revival of lapsed Policies: An Insurance Policy would lapse
on non-payment of due premium within the days of grace. A
policy in lapsed condition may be revived during the life time of
the Life Assured, but within the Revival Period and before the
Date of Maturity, as the case may be. The revival shall be
effected on payment of all the arrears of premium(s) together
with interest (compounding half yearly) at such rate as may be
fixed by the Corporation from time to time and on satisfaction of
Continued Insurability of the Life Assured and/or Proposer (if
LIC’s Premium Waiver Benefit Rider is opted for) on the basis
of information, documents and reports that are already
available and any additional information in this regard if and as
may be required in accordance with the Underwriting Policy of
the Corporation at the time of revival, being furnished by the
Policyholder/Life Assured/Proposer.
The Corporation, however, reserves the right to accept at
original terms, accept with modified terms or decline the revival
of a discontinued policy. The revival of the discontinued policy
shall take effect only after the same is approved, accepted and
revival receipt is issued by the Corporation.
with the revival of the Base policy and not in isolation.
4. Surrender: The policy can be surrendered by the policyholder
at any time during the policy term provided two full years’
premiums have been paid. On surrender of the policy, the
Corporation shall pay the Surrender Value equal to higher of
Guaranteed Surrender Value and Special Surrender Value.
The Special Surrender Value is reviewable and shall be
determined by the Corporation from time to time subject to prior
approval of IRDAI.
The Guaranteed Surrender Value payable during the policy
term shall be equal to the total premiums paid (excluding any
extra premium, any premiums for rider(s), if opted for and
taxes) multiplied by the Guaranteed Surrender Value factor
applicable to total premiums paid. These Guaranteed
Surrender Value factors expressed as percentages will
depend on the policy term and policy year in which the policy is
surrendered and are contained in Annexure - 4 of this policy
document.
In addition, the surrender value of vested simple reversionary
bonuses, if any, shall also be payable, which is equal to vested
bonuses multiplied by the Guaranteed Surrender Value factor
applicable to vested bonuses. These Guaranteed Surrender
Value factors will depend on the policy term and the policy year
in which policy is surrendered and are contained in Annexure –
5 of this policy document.
No surrender value will be available on Rider(s), if any.
5. Policy Loan: Loan shall be available under the Policy subject
to the following terms and conditions, within the surrender
value of the policy for such amounts and on such further terms
and conditions as the Corporation may fix from time to time:
i) Loan can be availed provided atleast two full years’
premiums have been paid.
ii) The maximum Loan that can be granted shall be as under:
• For in-force policies : upto 90% of Surrender Value
• For paid-up policies : upto 80% of Surrender Value
iii) The loan during the minority of Life Assured can be availed
by the Proposer provided the loan is raised for the benefit of
the minor Life Assured.
iv) The Policy shall be assigned absolutely to and held by the
Corporation as security for the repayment of Loan and of
the interest thereon.
v) Interest on Loan shall be paid on compounding half-yearly
basis to the Corporation at the rate to be specified by the
Corporation at the time of taking loan under this policy. The
applicable interest rate shall be based on the method
approved by IRDAI. The first payment of interest is to be
made on the next Policy anniversary or on the date six
months before the next Policy anniversary whichever
immediately follows the date on which the Loan is
sanctioned and every half year thereafter.
vi) In the event of default in payment of loan interest on the due
dates as herein mentioned above, and when the
outstanding loan along with interest is to exceed the
surrender value, the Corporation would be entitled to
Plan No.- 914
 H$aZo H$m hH$Xma hmoJm& nyd©-g_mnZ H$s OmZo dmbr Eogr nm°{b{g`m§,
Aä`n©U _yë` Am¡a ã`mO g{hV F$U H$s ~H$m`mam{e Ho$ A§Va Ho$
^wJVmZ H$s hH$Xma hm|Jr&
vii. {ZJ_, VrZ _hrZo H$m Zmo{Q>g XoH$a, F$U H$s am{e Cg na Xo`
g_ñV ã`mO g{hV dgyb H$aZo `m dmng _m§JZo H$m A{YH$mar h¡&
viii. `{X nm{°bgr n[an¹$ hmo OmVr h¡ `m Aä`{nV © H$a Xr OmVr h¡ `m _Ë¥`w
H$o H$maU Xmdo _| n[ad{VV© hmo OmVr h¡ Vmo {ZJ_, nm{°bgr H$s am{e _|
go ~H$m`m F$U H$s am{e ã`mO g{hV H$mQ>Zo H$m A{YH$mar hmJom&
6. nm°{bgr H$m g_mnZ:
{ZåZ{bpIV _| go g~go nhbo H$moB© ^r pñW{V K{Q>V hmoZo na, nm°{bgr
Vwa§V Am¡a ñdV: hr g_má hmo OmEJr:
H$) dh VmarI, {Og na _¥Ë`w {hVbm^ H$m EH$_wíV ^wJVmZ/A§{V_
{H$íV H$m ^wJVmZ {H$`m J`m hmo; `m
I) {Og VmarI na nm°{bgr Ho$ A§VJ©V Aä`n©U {hVbm^m| H$m {ZnQ>mZ
{H$`m J`m hmo; `m
J) `{X {ZnQ>mZ H$m {dH$ën Zht MZwm J`m h¡ Vmo n[an¹$Vm H$s VmarI; `m
K) {ZnQ>mZ {dH$ën Ho$ A§VJ©V A§{V_ {H$íVm| Ho$ ^wJVmZ na; `m
S>.) Bg nm°{bgr XñVmdoO Ho$ ^mJ-"S>r' H$s eV© 5 Ho$ C„oI Ho$
AZwgma F$U Ho$ ã`mO Ho$ ^wJVmZ _| MyH$ hmoZo H$s pñW{V _|; `m
M) `{X nm°{bgr H$m nwZM©bZ Zht H$am`m J`m h¡ Am¡a nm°{bgr H$mo àXÎm
nm°{bgr _| n[ad{V©V Zht {H$`m J`m h¡ Vmo nwZM©bZ Ad{Y g_má
hmoZo na; `m
N>) {Z:ewëH$ AdbmoH$Z {ZañVrH$aU H$s am{e H$m ^wJVmZ hmo OmZo na&
O) nm°{bgr XñVmdoO Ho$ ^mJ S>r Ho$ eVª 2 _| {d{Z{X©ï> OãVr H$s
pñW{V _|&
7. {Z:ewëH$ AdbmoH$Z Ad{Y:
`{X nm°{bgrYmaH$ nm°{bgr Ho$ {Z`_ Ed§ eVm] go g§Vwï> Zht h¡ Vmo
nm°{bgrYmaH$ Ûmam nm°{bgr XñVmdoO àmá H$aZo H$s VmarI go 15 {XZ
H$s {ZewëH$ AdbmoH$Z Ad{Y Ho$ Xm¡amZ dh Amn{Îm`m| H$m H$maU ~VmVo hþE
nm°{bgr {ZJ_ H$mo bm¡Q>m gH$Vm h¡ & nm°{bgr àmá hmoZo na, {ZJ_ nm°{bgr
H$mo {ZañV H$a XoJm Am¡a gwajm Ad{Y Ho$ {bE g_mZwnmVr OmopI_
àr{_`_ (_yb nm°{bgr Ho$ {bE Am¡a AZwd¥{Õ H$m M`Z {H$`m J`m h¡ Vmo
CgHo$ {bE) VWm {M{H$Ëgm Om§M, {deof [anmoQ>m] Am¡a ñQ>m§n ewëH$ Ho$ à^ma
H$mQ>H$a O_m {H$E JE àr{_`_ H$s am{e bm¡Q>m XoJm &
8. _¥Ë`w {hVbm^ {H$íVm| _| boZo H$m {dH$ën:
`h {dH$ën Mmby nm°{bgr Am¡a àXÎm XmoZm| nm°{b{g`m| Ho$ A§VJ©V, _¥Ë`w
{hVbm^m| H$mo EH$_wíV boZo H$s ~Om` 5 `m 10 `m 15 df© H$s MwZr JB©
Ad{Y _| {H$íVm| _| boZo H$m {dH$ën h¡ & nm°{bgr Ho$ A§VJ©V Xo` nyU© `m
Am§{eH$ _¥Ë`w {hVbm^m| Ho$ {bE nm°{bgrYmaH$ Ûmam ~r{_V ì`pŠV H$s
Ad`ñH$Vm Ho$ Xm¡amZ AWdm 18 df© Am¡a Cggo A{YH$ Ho$ ~r{_V ì`pŠV
Ûmam AnZo OrdZH$mb _| Bg {dH$ën H$m M`Z {H$`m Om gH$Vm h¡ &
nm°{bgrYmaH$/~r{_V ì`pŠV Ûmam MwZr JB© am{e (AWm©V {Zdb Xmdm
am{e) `m Vmo gw{Z{üV _yë` Ho$ ê$n _| hmo gH$Vr h¡ AWdm Hw$b Xo` Xmdm
àm{á`m| Ho$ Hw$N> à{VeV Ho$ ê$n _| & {H$E JE M`Z Ho$ AZwgma, {H$íVm|
H$m A{J«_ ^wJVmZ dm{f©H$ `m AY©-dm{f©H$ `m Ì¡_m{gH$ `m _m{gH$
A§Vamb na {H$`m OmEJm Am¡a {d{^Þ àH$ma Ho$ ^wJVmZm| Ho$ {bE {H$íV
H$s Ý`yZV_ am{e {ZåZ àH$ma hmoJr:
{H$íV ^wJVmZ H$m àH$ma Ý`yZV_ {H$íV am{e
_m{gH$ `5,000/-
Ì¡_m{gH$ `15,000/-
AY©-dm{f©H$ `25,000/-
dm{f©H$ `50,000/-
`{X nm°{bgrYmaH$/~r{_V ì`pŠV Ûmam MwZo JE {dH$ën Ho$ AZwgma,
Ý`yZV_ {H$íV H$s am{e H$s ì`dñWm H$aZo Ho$ {bE dm§{N>V am{e go H$_ h¡
Vmo Xmdo H$s àm{á`m| H$m ^wJVmZ EH$_wíV hr {H$`m OmEJm &
Bg {dH$ën Ho$ A§VJ©V {H$íV Ho$ ^wJVmZm| H$s JUZm H$aZo Ho$ {bE bmJy
ã`mO Xam| H$m {ZYm©aU {ZJ_ Ûmam g_`-g_` na {H$`m OmEJm &
_¥Ë`w {hVbm^ {H$íVm| _| boZo H$m {dH$ën MwZZo Ho$ {bE, nm°{bgrYmaH$,
~r{_V ì`pŠV H$s Ad`ñH$Vm Ho$ Xm¡amZ Am¡a d`ñH$ ~r{_V ì`pŠV AnZo
OrdZH$mb _| nm°{bgr Ho$ Mmby ahVo hþE {H$gr ^r g_` `h {dH$ën MwZ
gH$Vm h¡, {Og_| {H$íVm| Ho$ ^wJVmZ H$s Ad{Y Am¡a {Og {Zdb am{e Ho$
{bE `h {dH$ën MwZm OmZm h¡, Cg am{e H$mo {d{Z{X©ï> {H$`m OmEJm & Eogo
_| _¥Ë`w Xmdm am{e H$m ^wJVmZ nm°{bgrYmaH$/~r{_V ì`pŠV Ho$ {dH$ën Ho$
AZwgma Zm{_Vr H$mo H$a {X`m OmEJm Am¡a Zm{_Vr H$mo Bg_| {H$gr ^r
àH$ma H$m n[adV©Z H$aZo H$s AZw_{V Zht Xr OmEJr &
LIC's New Endowment Plan Page 12 of 20
foreclose such policies. Such policies when being
foreclosed shall be entitled to payment of the difference of
surrender value and the loan outstanding amount along
with interest, if any.
vii) Corporation is entitled to recover or recall the amount of the
Loan with all due interest by giving 3 months notice.
viii) In case the policy shall mature or surrendered or become a
claim by death, the Corporation shall become entitled to
deduct the amount of the Loan or any portion thereof which
is outstanding, together with all interest from the policy
moneys.
6. Termination of Policy:
The policy shall immediately and automatically terminate on
the earliest occurrence of any of the following events:
a) The date on which lumpsum death benefit/final instalment
of death benefit is paid; or
b) The date on which surrender benefits are settled under the
policy; or
c) The date of maturity if settlement option is not exercised; or
d) On payment of final installment under Settlement Option; or
e) In the event of default in payment of loan interest as
specified in Condition 5 of Part D of this policy document; or
f) On expiry of Revival Period if the policy, which has not
acquired paid up status, has not been revived within the
revival period; or
g) On payment of free look cancellation amount.
h) In the event of forfeiture as specified in Condition 2 of Part D
of this Policy Document.
7. Free look period:
During the Free Look period of 15 days from the date of receipt
of the Policy Document by the Policyholder, if the Policyholder
is not satisfied with the Terms and Conditions of the policy,
he/she may return the policy to the Corporation stating the
reason of objections. On receipt of the same the Corporation
shall cancel the policy and return the amount of premium
deposited after deducting the proportionate risk premium (for
Base Policy and Rider, if opted for) for the period of cover and
charges for medical examinations, special reports, if any and
stamp duty.
8. Option to take Death Benefit in instalments:
This is an option to receive Death Benefit in instalments over
the chosen period of 5 or 10 or 15 years instead of lump sum
amount under an in-force as well as paid-up policy. This option
can be exercised by the Policyholder during minority of the Life
Assured or by Life Assured aged 18 years and above, during
his/her life time; for full or part of Death benefits payable under
the policy. The amount opted for by the Policyholder/Life
Assured (i.e. Net Claim Amount) can be either in absolute
value or as a percentage of the total claim proceeds payable.
The instalments shall be paid in advance at yearly or half-
yearly or quarterly or monthly intervals, as opted for, subject to
minimum instalment amount for different modes of payments
being as under:
Mode of Instalment Minimum Instalment
payment amount
Monthly `5,000/-
Quarterly `15,000/-
Half-Yearly `25,000/-
Yearly `50,000/-
If the Net Claim Amount is less than the required amount to
provide the minimum instalment amount as per the option
exercised by the Policyholder/Life Assured, the claim proceed
shall be paid in lumpsum only.
The interest rates applicable for arriving at the instalment
payments under this option shall be as fixed by the Corporation
from time to time.
For exercising option to take Death Benefit in instalments, the
Policyholder during minority of the Life Assured or the Life
Assured, if major, can exercise this option during his/her
lifetime while in currency of the policy, specifying the period of
Instalment payment and net claim amount for which the option
is to be exercised. The death claim amount shall then be paid
to the nominee as per the option exercised by the
Policyholder/Life Assured and no alteration, whatsoever, shall
be allowed to be made by the nominee.
Plan No.- 914
9. {ZnQ>mZ {dH$ën (n[an¹$Vm {hVbm^ Ho$ {bE):
{ZnQ>mZ {dH$ën, Mmby Am¡a àXÎm XmoZm| hr nm°{b{g`m| Ho$ A§VJ©V, n[an¹$Vm
{hVbm^ H$s EH$_wíV am{e àmá H$aZo H$s ~Om`, CgH$mo 5 `m 10 `m
15 dfm] H$s MwZr JB© Ad{Y _| {H$íVm| _| boZo H$m {dH$ën h¡ &
nm°{bgrYmaH$ Ûmam Bg {dH$ën H$m MwZmd, Bg nm°{bgr Ho$ A§VJ©V Xo`
n[an¹$Vm-àm{á H$mo nyU© `m Am§{eH$ ^mJ Ho$ {bE, ~r{_V ì`pŠV H$s
Ad`ñH$Vm Ho$ Xm¡amZ AWdm 18 df© `m Cggo A{YH$ Am`w Ho$ ~r{_V
ì`pŠV Ûmam {H$`m Om gH$Vm h¡ & nm°{bgrYmaH$/~r{_V ì`pŠV Ûmam MwZr
JB© am{e (AWm©V {Zdb Xmdm am{e) `m Vmo gw{Z{üV _yë` Ho$ ê$n _| hmoJr
`m Hw$b Xo` Xmdm àm{á`m| Ho$ Hw$N> à{VeV Ho$ ê$n _| &
{H$E JE M`Z Ho$ AZwgma, {H$íVm| H$m A{J«_ ^wJVmZ dm{f©H$, AY©-
dm{f©H$, Ì¡_m{gH$ `m _m{gH$ A§Vambm| na {H$`m OmEJm Am¡a {d{^Þ àH$ma
Ho$ ^wJVmZm| Ho$ {bE {H$íVm| H$s Ý`yZV_ am{e {ZåZ àH$ma hmoJr:
{H$íV ^wJVmZ H$m àH$ma Ý`yZV_ {H$íV am{e
_m{gH$ `5,000/-
Ì¡_m{gH$ `15,000/-
AY©-dm{f©H$ `25,000/-
dm{f©H$ `50,000/-
`{X nm°{bgrYmaH$/~r{_V ì`pŠV Ûmam MwZo JE {dH$ën Ho$ AZwgma,
Ý`yZV_ {H$íV H$s am{e H$s ì`dñWm H$aZo Ho$ {bE dm§{N>V am{e go H$_ h¡
Vmo Xmdo H$s àm{á`m| H$m ^wJVmZ EH$_wíV hr {H$`m OmEJm &
{ZnQ>mZ {dH$ën Ho$ A§VJ©V {H$íV Ho$ ^wJVmZm| H$s JUZm H$aZo Ho$ {bE
bmJy ã`mO Xam| H$m {ZYm©aU {ZJ_ Ûmam g_`-g_` na {H$`m OmEJm &
n[an¹$Vm {hVbm^ Ho$ ~Xbo {ZnQ>mZ {dH$ën MwZZo Ho$ {bE,
nm°{bgrYmaH$/ ~r{_V ì`pŠV H$mo, n[an¹$Vm Xmdo H$s Xo` VmarI go H$_
go H$_ VrZ _hrZo nyd© {Zdb Xmdm am{e H$m ^wJVmZ {H$íVm| _| H$aZo H$m
{dH$ën MwZZm hmoJm &
nhbm ^wJVmZ n[an¹$Vm H$s VmarI na {H$`m OmEJm Am¡a CgHo$ nümV²,
nm°{bgrYmaH$ Ûmam MwZo JE {H$íV Ho$ ^wJVmZ Ho$ àH$ma Ho$ AmYma na,
`WmpñW{V, n[an¹$Vm H$s VmarI go àË`oH$ _hrZo, Ì¡_m{gH$s, AY©-
dm{f©H$s `m dm{f©H$s na {H$`m OmEJm &
{ZnQ>mZ {dH$ën Ho$ A§VJ©V {H$íVm| H$m ^wJVmZ àma§^ hmoZo Ho$ nümV² :
i. n[an¹$Vm {hVbm^ Ho$ ~Xbo {Og ~r{_V ì`pŠV Zo {ZnQ>mZ {dH$ën
MwZm h¡ `{X dh ì`pŠV Bg {dH$ën H$mo dmng boZm MmhVm h¡ Am¡a
~H$m`m {H$íVm| H$m {d{Z_` H$amZm MmhVm h¡ Vmo ~r{_V ì`pŠV go
{bpIV AZwamoY àmá hmoZo na BgH$s AZw_{V Xr OmEJr & Eogo _m_bo
_|, {ZåZm§{H$V _| go CƒV_ EH$_wíV am{e H$m ^wJVmZ H$a {X`m
OmEJm Am¡a nm°{bgr g_má hmo OmEJr:
• ^{dî` _| Xo` g_ñV {H$íVm| H$m KQ>m _yë`; AWdm
• (_yb am{e {OgHo$ {bE {ZnQ>mZ {dH$ën MwZm J`m Wm) _| go
(^wJVmZ H$s JB© Hw$b {H$íVm| H$s amer) H$mo KQ>mH$a
ii. ^{dî` Ho$ {H$íV ^wJVmZm| H$s [a`m`Vr Xa na bmJy ã`mO Xa H$m
{ZYm©aU {ZJ_ Ûmam g_`-g_` na {H$`m OmEJm &
iii. {ZnQ>mZ {dH$ën MwZZo dmbo ~r{_V ì`pŠV H$s _¥Ë`w H$s pñW{V _|,
~H$m`m {H$íVm| H$m ^wJVmZ, ~r{_V ì`pŠV Ûmam MwZo JE {dH$ën Ho$
AZwgma Zm{_Vr H$mo {H$`m OmZm Omar ahoJm Am¡a Bg_| Zm{_Vr H$mo
H$moB© ^r n[adV©Z H$aZo H$s AZw_{V Zht hmoJr &
^mJ - B©
bmJy Zht
^mJ - "E\$': AÝ` {Z`_ Ed§ eV]
1. H$) g_ZwXoeZ:
g_`-g_` na g§emo{YV ~r_m A{Y{Z`_, 1938 H$s Ymam 38 Ho$
AZwgma, Bg `moOZm Ho$ A§VJ©V g_ZwXoeZ H$s AZw_{V h¡ & Ymam
38 Ho$ dV©_mZ àmdYmZ Bg nm°{bgr XñVmdoO Ho$ n[a{eï>-1 _|
{Z{hV h¡ & g_ZwXoeZ H$m Zmo{Q>g, n§OrH$aU Ho$ {bE {ZJ_ Ho$ Cg
H$m`m©b` _| àñVwV {H$`m OmZm Mm{hE, Ohm§ Bg nm°{bgr go g§~§{YV
godmE§ Xr OmVr h¢ &
I) Zm_m§H$Z:
g_`-g_` na g§emo{YV ~r_m A{Y{Z`_, 1938 H$s Ymam 39 Ho$
AZwgma, OrdZ ~r_m Ho$ nm°{bgrYmaH$ Ûmam Zm_m§H$Z {H$`m OmZm
dm§{N>V h¡ & Ymam 39 Ho$ dV©_mZ àmdYmZ Bg nm°{bgr XñVmdoO Ho$
n[a{eï>-2 _| {Z{hV h¢ & Zm_m§H$Z H$m Zmo{Q>g, n§OrH$aU Ho$ {bE
LIC's New Endowment Plan Page 13 of 20
9. Settlement Option (for Maturity Benefit):
Settlement Option is an option to receive Maturity Benefit in
instalments over the chosen period of 5 or 10 or 15 years
instead of lumpsum amount under an in-force as well as paid-
up policy. This option can be exercised by the Policyholder
during minority of the Life Assured or by Life Assured aged 18
years and above, for full or part of Maturity proceeds payable
under the policy. The amount opted for by the Policyholder/Life
Assured (ie. Net Claim Amount) can be either in absolute value
or as a percentage of the total claim proceeds payable.
The instalments shall be paid in advance at yearly or half-
yearly or quarterly or monthly intervals, as opted for subject to
minimum instalment amount for different mode of payments
being as under:
Mode of Instalment Minimum Instalment
payment amount
Monthly `5,000/-
Quarterly `15,000/-
Half-Yearly `25,000/-
Yearly `50,000/-
If the Net Claim Amount is less than the required amount to
provide the minimum instalment amount as per the option
exercised by the Policyholder/Life Assured, the claim proceed
shall be paid in lumpsum only.
The interest rates applicable for arriving at the instalment
payments under Settlement Option shall be as fixed by the
Corporation from time to time.
For exercising the Settlement Option against Maturity Benefit,
the Policyholder/Life Assured shall be required to exercise
option for payment of net claim amount in instalments at least 3
months before the due date of maturity claim.
The first payment will be made on the date of maturity and
thereafter, based on the mode of instalment payment opted for
by the policyholder, every month or three months or six months
or annually from the date of maturity, as the case may be.
After the commencement of Instalment payments under
Settlement Option:
i. If a Life Assured, who has exercised Settlement Option
against Maturity Benefit, desires to withdraw this option
and commute the outstanding instalments, the same shall
be allowed on receipt of written request from the Life
Assured. In such case, the lump sum amount which is
higher of the following shall be paid and policy shall
terminate,
• discounted value of all the future instalments due; or
• (the original amount for which settlement option was
exercised) less (sum of total instalments already paid);
ii The interest rate applicable for discounting the future
instalment payments shall be as fixed by the Corporation
from time to time.
iii. After the Date of Maturity, in case of death of the Life
Assured, who has exercised Settlement Option, the
outstanding instalments will continue to be paid to the
nominee as per the option exercised by the Life Assured
and no alteration whatsoever shall be allowed to be made
by the nominee.
PART - E
Not Applicable
PART - F: OTHER TERMS AND CONDITIONS
1. a) Assignments:
Assignment is allowed under this plan as per Section 38 of
the Insurance Act, 1938, as amended from time to time.
The current provisions of Section 38 are contained in
Annexure-1 of this policy document. The notice of
assignment should be submitted for registration to the
office of the Corporation, where the policy is serviced.
b) Nominations:
Nomination by the holder of a policy of life assurance on
his/her own life is allowed as per Section 39 of the
Insurance Act, 1938, as amended from time to time. The
current provisions of Section 39 are contained in Annexure-
Plan No.- 914
 {ZJ_ Ho$ Cg H$m`m©b` _| àñVwV {H$`m OmZm Mm{hE, Ohm§ Bg
nm°{bgr go g§~§{YV godmE§ Xr OmVr h¢ & Zm_m§H$Z Ho$ n§OrH$aU _|
{ZJ_ H$moB© {Oå_oXmar Zht boVm Am¡a Z hr CgH$s d¡YVm `m H$mZyZr
à^md Ho$ {df` _| H$moB© _V àH$Q> H$aVm h¡ &
2. AmË_hË`m g§~§Yr AndO©Z: _¥Ë`w {hVbm^ ^wJVmZ hoVw Omo ^r eV] Bg
nm°{bgr ànÌ _| H$ht ^r C{„pIV hm| na§Vw AmË_hË`m go hþB© _¥Ë`w H$s
AdñWm _| Xmdo H$m ^wJVmZ {ZåZ{bpIV eVm] Ho$ A§VJ©V {H$`m OmEJm:
I) `{X ~r{_V ì`pŠV (Mmho {d{já hmo `m ñdñW), OmopI_ àma§^ hmoZo
H$s VmarI go 12 _hrZo Ho$ A§Xa {H$gr g_` AmË_hË`m H$a boVm
h¡ Vmo {H$Ýht H$am|, A{V[aŠV àr{_`_m| (Ad{Y ~r_m AZwd¥{Õ
àr{_`_ H$mo N>mo‹S>H$a) H$mo H$mQ>H$a, Hw$b AXm àr{_`_m| Ho$ 80
à{VeV Ho$ Abmdm AÝ` {H$gr Xmdo na {ZJ_ {dMma Zht H$aoJm,
~eV} {H$ nm°{bgr Mmby hmo&
ii) `{X ~r{_V ì`pŠV (Mmho {d{já hmo `m ñdñW), nwZM©bZ H$s VmarI
go 12 _hrZo Ho$ A§Xa AmË_hË`m H$a boVm h¡ Vmo _¥Ë`w H$s VmarI
VH$ AXm {H$E JE àr{_`_m| (H$am|, A{V[aŠV àr{_`_ Am¡a {H$Ýht
Ad{Y ~r_m AZwd¥{Õ àr{_`_m| H$mo N>mo‹S>H$a AZwd¥{Õ àr{_`_m| Ho$
Abmdm) H$s 80 à{VeV am{e `m _¥Ë`w H$s {V{W na CnbãY
Aä`n©U _yë` _| go Omo ^r A{YH$ hmoJm, dh Xo` hmoJm& Bg nm°{bgr
Ho$ A§VJ©V, {ZJ_ {H$gr AÝ` Xmdo na {dMma Zht H$aoJm&
àXÎm _yë` àmá {H$E {~Zm H$mbmVrV hþB© nm°{bgr na `h Ymam bmJy
Zht hmoJr Am¡a Eogr nm°{b{g`m| Ho$ A§VJ©V Hw$N> ^r Xo` Zht hmoJm&
J¡a-OãVr Cn~§Ym| Ho$ A§VJ©V C{„pIV AZwJ«h, AmË_hË`m go hþB©
_¥Ë`w Ho$ _m_bo _| bmJy Zht hmoJr&
3. H$a:
^maV gaH$ma AWdm {H$gr AÝ` g§d¡Ym{ZH$ H$a àm{YH$mar Ûmam Eogr
~r_m `moOZmAm| na `{X H$moB© H$a bJm`m OmVm h¡, Vmo dh Am¡a bmJy H$am|
H$s Xa H$a-H$mZyZm| Ho$ AZwgma hm|Jo &
àM{bV Xam| na bmJy H$am| H$s am{e nm°{bgrYmaH$ Ûmam àr{_`_m| (_yb
nm°{bgr Am¡a `{X H$moB© AZwd¥{Õ h¡ Vmo CgHo$ {bE) H$s am{e, ~r_mboIZ
Ho$ H$maU nm°{bgr Ho$ A§VJ©V br JB© A{V[aŠV am{e g{hV (`{X H$moB©
hmo), nm°{bgrYmaH$ Ûmam Xo` hmoJr, Omo AbJ go Am¡a nm°{bgrYmaH$ Ûmam
Xo` àr{_`_ Ho$ A{V[aŠV dgyb H$s OmEJr & Bg `moOZm Ho$ A§VJ©V Xo`
{hVbm^m| H$s JUZm H$aZo Ho$ {bE H$am| H$s am{e H$mo em{_b Zht {H$`m
OmEJm &
4. Xmdo Ho$ {bE gm_mÝ` AnojmE§:
H$) _¥Ë`w Xmdm: ~r{_V ì`pŠV H$s _¥Ë`w H$s pñW{V _| Xmdm XmpIb H$aVo
hþE, XmdmH$Vm© {ZJ_ H$s g§Vw{ï> Ho$ AZwgma Omo gm_mÝ` AnojmE±
Xm{Ib H$aoJm, do hm|Jo: {ZJ_ Ûmam {ZYm©[aV Xmdm ànÌ Ho$ gmW _yb
nm°{bgr XñVmdoO, ~¢H$ ImVo _| Xmdm am{e grYo O_m H$aZo Ho$ {bE
XmdmH$Vm© go EZB©E\$Q>r AmXoe-nÌ, A{YH$ma H$m à_mU, _¥Ë`w H$m
à_mU, _¥Ë`w go nhbo `{X H$moB© BbmO hþAm hmo, ñHy$b/ H$m°boO/
{Z`moŠVm H$m à_mU, Omo ^r bmJy hmoVo hm|& `{X nm°{bgr Ho$ A§VJ©V
Am`w ñdrH¥$V Zht h¡ Vmo ~r{_V ì`pŠV H$s Am`w H$m à_mU ^r
XmpIb {H$`m OmEJm&
H$moB© ^r Xmdm ñdrH$m`© hmoZo Ho$ {bE _¥Ë`w H$s VmarI go 90 {XZ Ho$
A§Xa, _¥Ë`w H$s gyMZm _¥Ë`w à_mUnÌ Ho$ gmW {ZJ_ Ho$ Cg
H$m`m©b` _| A{Ygy{MV H$s OmZr Mm{hE, Ohm§ nm°{bgr go g§~§{YV
godmE§ Xr OmVr h¢& VWm{n, XmdmH$Vm© Ho$ Ûmam gƒo Xmdm| H$s gyMZm
_| hþB© Xoar H$mo, {ZJ_ Ho$ Ûmam JwU-Xmof Ho$ AmYma na Am¡a XmdmH$Vm©
Ho$ AmYma na VWm XmdmH$Vm© Ho$ {Z`§ÌU go ~mha Ho$ H$maUm| go hþB©
Xoar à_m{UV hmoZo na bmJy {H$`m Om gH$Vm h¡&
I) n[an¹$Vm/Aä`n©U Xmdm: O~ nm°{bgr H$m A§V n[an¹$Vm Xmdo Ho$
ê$n _| hmo `m nm°{bgr Ho$ Aä`n©U H$s pñW{V _|, ~r{_V ì`pŠV H$mo,
_yb nm°{bgr XñVmdoO Ho$ gmW {d_wpŠV ànÌ, ~¢H$ ImVo _| Xmdm
am{e grYo O_m aH$Zo Ho$ {bE XmdmH$Vm© go EZB©E\$Q>r AmXoe-nÌ Ho$
gmW hr Am`w H$m à_mU (`{X Am`w nhbo ñdrH¥$V Zht H$s JB©)
XmpIb H$aZm hmoJm &
Cn`w©ŠV XñVmdoOm| Ho$ Abmdm, do AnojmE§ ^r àñVwV H$aZo H$mo H$hm
Om gH$Vm h¡, Omo {H$gr d¡Ym{ZH$ àmdYmZ Ho$ A§VJ©V AmXo{eV hm|
`m H$mZyZ Ho$ AZwgma dm§{N>V hm| &
5. àmH¥${VH$/An[ahm`© AmnXm: àmH¥${VH$ AmnXm, amOH$s` H$ma©dmB©,
h‹S>Vmb, Vmbm~§Xr, {H$gr gaH$ma `m {H$gr ^r d¡Ym{ZH$ àm{YH$mar Ho$
{H$gr H$mZyZ AWdm à{V~§Y AWdm {ZJ_ Ho$ nydm©Zw_mZ `m {Z`§ÌU Ho$
~mha H$s n[apñW{V`m| Ho$ \$bñdê$n, `{X {ZJ_ H$m H$m`©-{ZînmXZ `m
AÝ` H$Îm©ì` ~m{YV hmoZo H$s pñW{V _|, Eogr AmnXm Ho$ Omar ahZo Ho$
LIC's New Endowment Plan Page 14 of 20
2 of this policy document. The notice of nomination or
change of nomination should be submitted for registration
to the office of the Corporation, where the policy is serviced.
In registering nomination the Corporation does not accept
any responsibility or express any opinion as to its validity or
legal effect.
2. Suicide Exclusion: Notwithstanding the provision of benefits
payable on death mentioned anywhere in this Policy
Document, the provisions related to claim payment in case of
death due to suicide shall be subject to the conditions as
specified herein under:
i) If the Life Assured (whether sane or insane) commits
suicide at any time within 12 months from the date of
commencement of risk, the Corporation will not entertain
any claim under this policy except for 80% of the total
premiums paid excluding any taxes, extra premium and
rider premiums other than term assurance rider, if any,
provided the policy is in-force.
ii) If the Life Assured (whether sane or insane) commits
suicide within 12 months from date of revival, an amount
which is higher of 80% of the total premiums paid till the
date of death (excluding any taxes, extra premium and rider
premiums other than term assurance rider if any,) or the
surrender value available as on the date of death, shall be
payable. The Corporation will not entertain any other claim
under this policy.
This clause shall not be applicable for a policy lapsed
without acquiring paid-up value and nothing shall be
payable under such policies.
The relaxation mentioned under Non-forfeiture provisions
shall not be applicable in case of death due to suicide.
3. Tax:
Statutory Taxes, if any, imposed on such insurance plans by
the Government of India or any other constitutional tax
Authority of India shall be as per the Tax laws and the rate of tax
as applicable from time to time.
The amount of applicable taxes as per the prevailing rates,
shall be payable by the policyholder on premiums (for base
policy and rider(s), if any) including extra premiums, if any,
which shall be collected separately over and above in addition
to the premiums payable by the policyholder. The amount of
tax paid shall not be considered for the calculation of benefits
payable under the plan.
4. Normal requirements for a claim:
a) Death Claim: The normal documents which the claimant
shall submit while lodging the claim in case of death of the
Life Assured shall be claim forms, as prescribed by the
Corporation, accompanied with original policy document,
NEFT mandate from the claimant for direct credit of the
claim amount to the bank account, proof of title, proof of
death, medical treatment prior to the death (if any),
school/college/ employer’s certificate, whichever is
applicable, to the satisfaction of the Corporation. If the age
is not admitted under the policy, the proof of age of the Life
Assured shall also be submitted.
Within 90 days from the date of death, intimation of death
along with death certificate must be notified in writing to the
office of the Corporation where the policy is serviced for any
claims to be admissible. However, delay in intimation of the
genuine claim by the claimant, may be condoned by the
Corporation, on merit, and where delay is proved to be for
the reasons beyond his/her control.
b) Maturity/Surrender Claim: Where the policy results into a
maturity claim or in case of surrender of the policy, the Life
Assured shall submit the discharge form along with the
original policy document, NEFT mandate from the claimant
for direct credit of the claim amount to the bank account
besides proof of age, if the age is not admitted earlier.
In addition to above, any requirement mandated under any
statutory provision or as may be required as per law shall
also be required to be submitted.
5. Force Majeure: In the event where the Corporation’s
performance or any other obligations are prevented or
hindered as a consequence of any act of God or state, strike,
lock out, legislation or restriction by any government or any
other statutory authority or any other circumstances that lie
beyond the Corporation’s anticipation or control, the
performance of this policy shall be wholly or partially
suspended during the continuance of such force majeure. The
Plan No.- 914
 Xm¡amZ Bg nm°{bgr H$m {ZînmXZ nyU©V: `m Am§{eH$ ê$n go {Zb§{~V ahoJm&
BZ_| go H$moB© ^r n[adV©Z H$aZo go nhbo, AmB©AmaS>rEAmB© H$mo gyMZm XoZo
Am¡a CZH$m nyd©-AZw_moXZ àmá H$aZo Ho$ {bE, {ZJ_ dMZ~Õ h¡&
6. d¡Ym{ZH$ n[adV©Z: Bg nm°{bgr Ho$ A§VJ©V Xo` àr{_`_ Ed§ {hVbm^
g{hV, {Z`_ Ed§ eVm] g§~§{YV {dYmZ Ed§ {d{Z`_m| Ho$ AZwgma
n[adV©Zerb h¢ &
7. {hVbm^ {ZXe©Z: AmnH$m {ZX}e {Z{_©V {hVbm^ {ZXe©Z Bg nm°{bgr
XñVmdoO Ho$ gmW g§b¾ h¢ &
^mJ "Or' : d¡Ym{ZH$ àmdYmZ
~r_m A{Y{Z`_, 1938 H$s Ymam 45:
g_`-g_` na g§emo{YV ~r_m A{Y{Z`_, 1938 H$s Ymam 45 Ho$ àmdYmZ
g_`-g_` na g§emo{YV ê$n _| bmJy hm|Jo & dV©_mZ àmdYmZ Bg nm°{bgr
XñVmdoO H$s n[a{eï> 3 _| g§b¾ h¡ &
{eH$m`V {ZdmaU aMZmV§Ì:
{ZJ_ H$s:
J«mhH$m| Ho$ {eH$m`Vm| Ho$ {ZdmaU Ho$ {bE emIm/ _ÊS>br`/ joÌr`/ Ho$ÝÐr`
H$m`m©b`m| _| {ZJ_ Ho$ {eH$m`V {ZdmaU A{YH$mar hmoVo h¢& J«mhH$m| H$s
{eH$m`Vm| Ho$ erK« {ZdmaU Ho$ {bE {ZJ_ Zo AnZo J«mhH$ nmoQ>©b (do~gmBQ>:
http://www.licindia.in) Ho$ _mÜ`_ go J«mhH$-AZwHy$b, g_mH${bV {eH$m`V
à~§YZ àUmbr H$s ewê$AmV H$s h¡, Ohm§ na H$moB© ^r n§OrH¥$V nm°{bgrYmaH$
{eH$m`V H$m n§OrH$aU H$am gH$Vm h¡ Am¡a CgH$s pñW{V na Ñ{ï> aI
gH$Vm h¡& {H$gr ^r {eH$m`V Ho$ {ZdmaU Ho$ {bE J«mhH$ B©-_ob
co_crmgrv@licindia.com na ^r g§nH©$ H$a gH$Vo h¢ &
_¥Ë`w Xmdm| Ho$ AñdrH¥${V Ho$ {ZU©` go Ag§Vwï> XmdmH$Vm©Am| Ho$ nmg, AnZo
_m_bm| Ho$ nwZarjU Ho$ {bE joÌr` H$m`m©b` Xmdm {eH$m`V {ZdmaU g{_{V `m
Ho$ÝÐr` H$m`m©b` Xmdm {eH$m`V {ZdmaU g{_{V Ho$ nmg bo OmZo Ho$ {dH$ën h¢&
Cƒ Ý`m`mb`/{Obm Ý`m`mb` H$m EH$ Ý`m`mYre g^r Xmdm {eH$m`V {ZdmaU
g{_{V`m| H$m gXñ` hmoVm h¡ &
AmB©AmaS>rEAmB© H$s:
`{X J«mhH$ h_mao CÎma go g§Vwï> Zht h¡ `m h_go 15 {XZm| Ho$ A§Xa H$moB© CÎma
Zht {_bVm h¡ Vmo J«mhH$, {ZåZ{bpIV {H$gr ^r _mÜ`_ go AmB©AmaS>rEAmB© Ho$
{eH$m`V H$j _| Om gH$Vm h¡:
• Q>mob-\«$s ({Z:ewëH$) Z§~a 155255 / 18004254732 (AWm©V
AmB©AmaS>rEAmB© H$m {eH$m`V Q>obr\$moZ Ho$ÝÐ) _| \$moZ H$aHo$ &
• complaints@irdai.gov.in na B©-_ob H$aHo$
• B§Q>aZoQ> Ho$ _mÜ`_ go http://www.igms.irdai.gov.in na {eH$m`V XO©
H$aHo$
• Hw$[a`a/nÌ Ûmam {eH$m`V ^oOZo Ho$ {bE nVm: Cn^moŠVm _m_bm {d^mJ,
^maVr` ~r_m {Z`m_H$ Ed§ {dH$mg àm{YH$aU, gd} g§»`m-115/1,
\$mBZ|{e`b {S>pñQ´>ŠQ>, ZmZH$am_Jw‹S>m, JmMr~mdbr, h¡Xam~mX - 500032
(Vob§JmZm)
bmoH$nmb H$s:
Xmdo go g§~§{YV {eH$m`Vm| Ho$ {ZdmaU Ho$ {bE, XmdmH$Vm© ~r_m bmoH$nmb Ho$
nmg ^r Om gH$Vo h¢ Omo J«mhH$m| H$mo H$_ bmJV na erK« _Ü`ñWVm àXmZ
H$aVo h¢&
~r_m bmoH$nmb {Z`_mdbr, 2017 Ho$ AZwgma, bmoH$nmb Eogo _m_bm| go
g§~§{YV {eH$m`V AWdm {eH$m`V àmá H$a gH$Vo h¢ Am¡a CZ na {dMma H$a
gH$Vo h¢, O¡go {H$:
H$) Xmdm| Ho$ {ZnQ>mZ _|, ^maVr` ~r_m {Z`m_H$ Ed§ {dH$mg àm{YH$aU
A{Y{Z`_, 1999 Ho$ A§VJ©V ~ZmE JE {d{Z`_m| _| {d{Z{X©ï> g_`-gr_m
go A{YH$ Xoar;
I) OrdZ ~r_mH$Vm©, gmYmaU ~r_mH$Vm© `m ñdmñÏ` ~r_mH$Vm© Ûmam Xmdm| H$s
Am§{eH$ `m nyU© AñdrH¥${V;
J) ~r_m nm{°bgr H$s eVm] H$o AZg w ma AXm {H$E JE `m X`o àr{_`_m| na
{eH$m`V;
K) nm°{bgr XñVmdoO _| `m nm°{bgr g§{dXm _| {H$gr ^r g_` nm°{bgr Ho$
{Z`_ Ed§ eVm] na AÝ`Wm H$WZ H$aZm;
L) ~r_m nm°{bgr H$s H$mZyZr g§aMZm, O~{H$ {eH$m`V Xmdo go g§~§{YV hmo;
M) ~r_mH$Vm©Am|, CZHo$ H$m`©H$Vm©Am| Ed§ _Ü`ñWm| Ho$ {dê$Õ nm°{bgr godm
g§~§Yr {eH$m`V;
N>) Eogr OrdZ ~r_m nm°{bgr, ñdmñÏ` nm°{bgr g{hV gmYmaU ~r_m nm°{bgr
Omar H$aZm, Omo àñVmdH$ Ûmam XmpIb àñVmd-nÌ Ho$ AZwgma Z hmo;
LIC's New Endowment Plan Page 15 of 20
Corporation shall resume its obligations towards the Policy as
soon as the Force Majeure event ceases. The Corporation
undertakes to keep the IRDAI informed and seek prior
approval before effecting any of these changes.
6. Legislative Changes: The Terms and Conditions including
the premiums and benefits payable under this policy are
subject to variation in accordance with the relevant Legislation
& Regulations.
7. Benefit Illustration: Your customized Benefit Illustration is
enclosed to this Policy document.
PART - G: STATUTORY PROVISIONS
Section 45 of Insurance Act, 1938:
The provisions of Section 45 of the Insurance Act, 1938, as
amended from time to time, shall be applicable. The current
provisions are contained in Annexure-3 of this policy document.
Grievance Redressal Mechanism:
Of the Corporation:
The Corporation has Grievance Redressal Officers at Branch/
Divisional/ Zonal/ Central Office to redress grievances of
customers. For ensuring quick redressal of customer grievances
the Corporation has introduced Customer friendly Integrated
Complaint Management System through our Customer Portal
(website) which is http://www.licindia.in, where a registered
policy holder can directly register complaint/ grievance and
track its status. Customers can also contact at e-mail id
co_crmgrv@licindia.com for redressal of any grievances.
Claimants not satisfied with the decision of death claim repudiation
have the option of referring their cases for review to Zonal Office
Claims Dispute Redressal Committee or Central Office Claims
Dispute Redressal Committee. A retired High Court/ District Court
Judge is member of each of the Claims Dispute Redressal
Committees.
Of IRDAI:
In case the customer is not satisfied with the response or does not
receive a response from us within 15 days, then the customer may
approach the Grievance Cell of the IRDAI through any of the
following modes:
• Calling Toll Free Number 155255 / 18004254732 (i.e. IRDAI
Grievance Call Centre)
• Sending an email to complaints@irdai.gov.in
• Register the complaint online at http://www.igms.irdai.gov.in
• Address for sending the complaint through courier / letter:
Consumer Affairs Department, Insurance Regulatory and
Development Authority of India, Survey No.115/1, Financial
District, Nanakramguda, Gachibowli, Hyderabad- 500032,
Telangana.
Of Ombudsman:
For redressal of Claims related grievances, claimants can also
approach Insurance Ombudsman who provides for low cost and
speedy arbitration to customers.
The Ombudsman, as per Insurance Ombudsman Rules, 2017, can
receive and consider complaints or disputes relating to the matters
such as:
a) Delay in settlement of claims, beyond the time specified in the
regulations, framed under the Insurance Regulatory and
Development Authority of India Act, 1999;
b) Any partial or total repudiation of claims by the life insurer,
General insurer or the health insurer;
c) Disputes over premium paid or payable in terms of insurance
policy;
d) Misrepresentation of policy terms and conditions at any time in
the policy document or policy contract;
e) Legal construction of insurance policies in so far as the dispute
relates to claim;
f) Policy servicing related grievances against insurers and their
agents and intermediaries;
g) Issuance of life insurance policy, general insurance policy
including health insurance policy which is not in conformity with
the proposal form submitted by the proposer;
Plan No.- 914
O) OrdZ ~r_m VWm ñdmñÏ` g{hV gmYmaU ~r_m Ho$ àr{_`_ àmá H$aZo Ho$
~mX ^r nm°{bgr Omar Z H$aZm;
P) ~r_m A{Y{Z`_, 1938 Ho$ `m g_`-g_` na AmB©AmaS>rEAmB© Ûmam
Omar {d{Z`_m|, n[anÌm|, {Xem{ZX}em| `m AZwXoem| `m nm°{bgr g§d{Xm Ho$
{Z`_ Ed§ eVm] Ho$ C„§KZ go CËnÞ H$moB© AÝ` _m_bm, Ohm§ VH$ {H$ do
Ymam (H$) go (M) _| C{„pIV _m_bm| go g§~§{YV hm| &
ZmoQ>: Bg XñVmdoO _| Cëbo{IV {Z`_m| Ed§ eVm] H$s ì`m»`m Ho$ {df` _| H$moB©
{eH$m`V hmoZo H$s pñW{V _|, A§J«oOr ^mfm§Va {d{Y_mÝ` hmoJm &
Amngo AZwamoY h¡ {H$ Amn Bg nm°{bgr H$s Om§M H$a b| Am¡a `{X Bg_| H$moB©
JbVr nmB© OmE, Vmo Bg nm°{bgr H$s gwYma Ho$ {bE Vwa§V bm¡Q>m X| &
n[a{eï> - 1
g_ZwXoeZ: ~r_m A{Y{Z`_, 1938 H$s Ymam 38 Ho$ AZwgma
1) {H$gr nm°{bgr H$m nyU© AWdm Am§{eH$ hñVm§VaU `m g_ZwXoeZ, Mmho dh
à{V\$b Ho$ ~Xbo _| hmo `m {~Zm à{V\$b Ho$, nm°{bgr Ho$ D$na hr EH$
n¥ð>m§H$Z H$aHo$ AWdm AbJ go EH$ ànÌ Ho$ Ûmam {H$`m Om gH$Vm h¡
{Og na XmoZm| hr pñW{V`m| _| hñVm§VaUH$Vm© `m g_ZwXoeH$ `m CgHo$
{d{YdV àm{YH¥$V A{^H$Vm© Ho$ hñVmja hm|Jo & Bg na H$_ go H$_ EH$
Jdmh Ûmam gmú`m§{H$V {H$`m OmEJm Am¡a Bg_| {deof ê$n go hñVm§VaU
AWdm g_ZwXoeZ Ho$ VÏ` H$m, CgHo$ H$maUm| H$m, g_ZwXo{eVr Ho$
nyd©M[aÌ H$m VWm g_ZwXoeZ H$s eVm] H$m C„oI {H$`m OmEJm &
2) Ohm§ {ZJ_ Ho$ nmg `h {dœmg H$aZo H$m n`m©á H$maU h¡ {H$ Eogm
hñVm§VaU `m g_ZwXoeZ àm_m{UH$ Zht h¡ `m nm°{bgrYmaH$ Ho$ {hV _|
Zht h¡ `m gmd©O{ZH$ {hV _| Zht h¡ `m ~r_m nm°{bgr H$m gm¡Xm H$aZo Ho$
{bE {H$`m J`m h¡ Vmo ~r_mH$Vm© Cn Ymam (1) Ho$ A§VJ©V {H$E JE Eogo
hñVm§VaU `m g_ZwXoeZ Ho$ n¥ð>m§H$Z H$mo ñdrH$ma H$a gH$Vm h¡ `m CgHo$
D$na H$moB© H$ma©dmB© H$aZo go _Zm H$a gH$Vm h¡ &
3) n¥ð>m§H$Z na H$moB© H$ma©dmB© H$aZo go _Zm H$aZo go nhbo, ~r_mH$Vm© Eogr
_Zmhr Ho$ H$maU {bpIV ê$n _| XO© H$aoJm Am¡a nm°{bgrYmaH$ Ûmam Eogo
hñVm§VaU `m g_ZwXoeZ H$m Zmo{Q>g {XE OmZo Ho$ A{YH$V_ 30 {XZm| Ho$
A§Xa nm°{bgrYmaH$ H$mo CZ H$maUm| H$s gyMZm XoJm &
4) ~r_mH$Vm© Ûmam Eogo hñVm§VaU `m g_ZwXoeZ na H$ma©dmB© Z H$aZo Ho$ {ZU©`
go `{X {H$gr ì`pŠV H$mo {eH$m`V h¡ Vmo Eogr _Zmhr Ho$ H$maUm| dmbr
gyMZm àmá hmoZo Ho$ 30 {XZ Ho$ A§Xa dh ì`pŠV àm{YH$mar Ho$ gm_Zo
Xmdm H$a gH$Vm h¡ &
5) Cn Ymam (2) Ho$ àmdYmZm| Ho$ AYrZ, Eogo n¥ð>m§H$Z Ho$ {ZînmXZ na `m
ànÌ Ho$ {d{YdV² gmú`m§{H$V hmo OmZo na, hñVm§VaU `m g_ZwXoeZ nyU©
VWm {H«$`merb hmo OmEJm & {H$ÝVw `{X Eogm hñVm§VaU `m g_ZwXoeZ
~r_mH$Vm© Ho$ nj _| h¡ Vmo dh {H$gr ~r_mH$Vm© Ho$ {dê$Õ H$m`©H$mar Zht
hmoJm Am¡a Bggo hñVm§Var `m g_ZwXo{eVr H$mo `m CgHo$ H$mZyZr à{V{Z{Y
H$mo Eogr nm°{bgr H$s am{e na `m nm°{bgr _| à{V^yV am{e na dmX MbmZo
H$m H$moB© A{YH$ma V~ VH$ Zht {_boJm O~ VH$ hñVm§VaU `m g_ZwXoeZ
H$s {bpIV gyMZm Am¡a CŠV n¥ð>m§H$Z `m dh ànÌ `m hñVm§VaUH$Vm© Am¡a
hñVm§Var Ûmam AWdm CZHo$ {d{dYV àm{YH¥$V A{^H$Vm© Ûmam gË`m{nV
CgH$s EH$ à{V ~r_mH$Vm© H$mo Z Xo &
~eV} {H$ `{X ^maV _| EH$ go A{YH$ ñWmZm| na AnZm ì`dgm` MbmVm
h¡ Vmo Eogm Zmo{Q>g Ho$db Cgr ñWmZ na {X`m OmEJm, Ohm§ na Cg
nm°{bgr go g§~§{YV godmE§ Xr OmVr h¢ &
6) {Og VmarI na Cn Ymam (5) _| C{„pIV Zm{oQ>g ~r_mH$Vm© H$mo {X`m OmVm
h,¡ dh VmarI nm{°bgr _| {hV aIZo dmbo ì`pŠV`m| H$o ~rM, hñVmV§aU `m
g_ZXweoZ H$o g^r Xmdm| H$s àmW{_H$Vm H$mo {d{Z`{_V H$aJor& Ama¡ `{X H$ht
na EH$ go A{YH$ hñVmV§aU `m g_ZXweoZ H$o ànÌ h¢ Vmo Eg o o ànÌm| H$o
AV§JV© Xmdm| H$s àmW{_H$Vm Cgr H$«_ go gM§m{bV hmJor, {Og H$«_ _| Cn
Ymam (5) _| C{„pIV Zm{oQ>g {XE JE h&¢
`{X g_ZwXo{e{V`m| Ho$ ~rM ^wJVmZ H$s àmW{_H$Vm H$mo boH$a H$moB© _V^oX
hmoVm h¡ Vmo Cg {ddmX H$mo àm{YH$mar Ho$ nmg ^oO {X`m OmEJm &
7) Cn Ymam (5) _| C{„pIV Zmo{Q>g àmá hmoZo na, ~r_mH$Vm© Eogo hñVm§VaU
`m g_ZwXoeZ H$m, CgH$s VmarI Am¡a hñVm§Var `m g_ZwXo{eVr Ho$ Zm_
Ho$ VÏ`m| H$mo XO© H$aoJm Am¡a Eogm Zmo{Q>g XoZo dmbo ì`pŠV `m hñVm§Var
`m g_ZwXo{eVr Ho$ AZwamoY na Am¡a {d{Z`_m| Ho$ A§VJ©V {ZYm©[aV ewëH$
AXm H$aZo na, Eogo Zmo{Q>g H$s àm{á H$s {bpIV nmdVr XoJm Am¡a Eogr
nmdVr ~r_mH$Vm© Ho$ à{V Bg ~mV H$m n¸$m g~yV hmoJr {H$ Cgo dh
Zmo{Q>g {d{YdV àmá hmo J`m h¡ {Oggo dh nmdVr g§~§{YV h¡ &
LIC's New Endowment Plan Page 16 of 20
(h) Non-issuance of insurance policy after receipt of premium in
life insurance and general insurance including health
insurance; and
(i) Any other matter resulting from the violation of provisions of the
Insurance Act, 1938 or the regulations, circulars, guidelines or
instructions issued by the IRDAI from time to time or the terms
and conditions of the policy contract, in so far as they relate to
issues mentioned at clauses (a) to (f).
Note: In case of dispute in respect of interpretation of terms and
conditions mentioned in this document the English version shall
stand valid.
YOU ARE REQUESTED TO EXAMINE THIS POLICY, AND IF
A N Y M I S TA K E B E F O U N D T H E R E I N , R E T U R N I T
IMMEDIATELY FOR CORRECTION.
Annexure - 1
Assignment - As per Section 38 of the Insurance Act 1938
1) A transfer or assignment of a policy of insurance, wholly or in
part, whether with or without consideration, may be made only
by an endorsement upon the policy itself or by a separate
instrument, signed in either case by the transferor or by the
assignor or his duly authorised agent and attested by at least
one witness, specifically setting forth the fact of transfer or
assignment and the reasons thereof, the antecedents of the
assignee and the terms on which the assignment is made.
2) An insurer may, accept the transfer or assignment, or decline to
act upon any endorsement made under sub-section(1), where
it has sufficient reason to believe that such transfer or
assignment is not bonafide or is not in the interest of the
policyholder or in public interest or is for the purpose of trading
of insurance policy.
3) The insurer shall, before refusing to act upon the endorsement,
record in writing the reasons for such refusal and communicate
the same to the policyholder not later than thirty days from the
date of the policy-holder giving notice of such transfer or
assignment.
4) Any person aggrieved by the decision of an insurer to decline to
act upon such transfer or assignment may within a period of
thirty days from the date of receipt of the communication from
the insurer containing reasons for such refusal, prefer a claim
to the Authority.
5) Subject to the provisions in sub-section (2), the transfer or
assignment shall be complete and effectual upon the
execution of such endorsement or instrument duly attested but
except, where the transfer or assignment is in favour of the
insurer, shall not be operative as against an insurer, and shall
not confer upon the transferee or assignee, or his legal
representative, any right to sue for the amount of such policy or
the moneys secured thereby until a notice in writing of the
transfer or assignment and either the said endorsement or
instrument itself or a copy thereof certified to be correct by both
transferor and transferee or their duly authorised agents have
been delivered to the insurer:
Provided that where the insurer maintains one or more places
of business in India, such notice shall be delivered only at the
place where the policy is being serviced.
6) The date on which the notice referred to in sub-section (5) is
delivered to the insurer shall regulate the priority of all claims
under a transfer or assignment as between persons interested
in the policy; and where there is more than one instrument of
transfer or assignment the priority of the claims under such
instruments shall be governed by the order in which the notices
referred to in sub-section (5) are delivered:
Provided that if any dispute as to priority of payment arises as
between assignees, the dispute shall be referred to the
Authority.
7) Upon the receipt of the notice referred to in sub-section (5), the
insurer shall record the fact of such transfer or assignment
together with the date thereof and the name of the transferee or
the assignee and shall, on the request of the person by whom
the notice was given, or of the transferee or assignee, on
payment of such fee as may be specified by the regulations,
grant a written acknowledgment of the receipt of such notice;
and any such acknowledgment shall be conclusive evidence
against the insurer that he has duly received the notice to which
such acknowledgment relates.
Plan No.- 914
8) hñVm§VaU `m g_ZwXoeZ Ho$ {Z`_ Ed§ eVm] Ho$ AYrZ, ~r_mH$Vm© Cn Ymam
(5) _| C{„pIV Zmo{Q>g H$s àm{á H$s VmarI go, Cg Zmo{Q>g _| Zm{_V
hñVm§Var `m g_ZwXo{eVr H$mo nm°{bgr Ho$ A§VJ©V {hVbm^m| H$m nyU©
hñVm§Var `m g_ZwXo{eVr A{YH$mar H$s _mÝ`Vm XoJm Am¡a Cg ì`pŠV na
do g_ñV Xo`VmAm| Am¡a {Zdb am{e`m§ bmJy hm|Jr Omo hñVm§VaUH$Vm© `m
g_ZwXoeH$ na, hñVm§VaU `m g_ZwXoeZ H$s VmarI na bmJy hmoVr Wt
Am¡a dh hñVm§VaUH$Vm© `m g_ZwXoeH$ H$s gh_{V {bE {~Zm `m Eogr
H$ma©dmB© _| Cgo njH$ma ~ZmE {~Zm, nm°{bgr Ho$ g§~§Y _| H$moB© ^r H$ma©dmB©
àma§^ H$a gH$Vm h¡, nm°{bgr Ho$ A§VJ©V F$U bo gH$Vm h¡ `m nm°{bgr H$m
Aä`n©U H$a gH$Vm h¡ &
ì`m»`m: `{X Cn Ymam (1) _| C{„pIV n¥ð>m§H$Z _| ñnï> ê$n go `h Zht
H$hm J`m hmoJm {H$ g_ZwXoeZ `m hñVm§VaU `hm§ ZrMo Xr JB© Cn Ymam
(10) Ho$ AZwgma geV© h¡, Vmo àË`oH$ hñVm§VaU `m g_ZwXoeZ H$mo nyU©
g_ZwXoeZ `m hñVm§VaU _mZm OmEJm Am¡a g_ZwXo{eVr `m hñVm§Var H$mo,
`WmpñW{V, H«$_e: nyU© g_ZwXo{eVr `m hñVm§Var _mZm OmEJm &
9) ~r_m H$mZyZ (g§emoYZ) A{Y{Z`_, 2015 Ho$ àma§^ go nyd©, {H$gr
g_ZwXoeZ AWdm hñVm§VaU Ho$ A§VJ©V OrdZ ~r_m nm°{bgr Ho$ {H$gr
g_ZwXo{eVr `m hñVm§Var Ho$ Mmby A{YH$mam| Am¡a à{VH$mam| na, Bg Ymam
Ho$ àmdYmZm| H$m H$moB© à{V^yb à^md Zht n‹S>oJm &
10) {H$gr H$mZyZ Ho$ `m H$mZyZ H$s e{ŠV aIZo dmbr àWm Ho$ hmoVo hþE ^r,
`{X {H$gr ì`pŠV Ho$ nj _| g_ZwXoeZ Bg eV© na {H$`m OmVm h¡ {H$:
H$) g_ZwXo{eVr `m hñVm§Var H$s _¥Ë`w ~r_mYmaH$ go nhbo hmoZo na,
nm°{bgr Ho$ A§VJ©V àm{á`m§ nm°{bgrYmaH$ H$mo `m Zm{_Vr ì`pŠV/
ì`pŠV`m| H$mo Xo` hmo OmE§Jr; AWdm
I) ~r_mYmaH$ Ho$ nm°{bgr Ad{Y VH$ Or{dV ahZo na, dh d¡Y hmoJm &
~eV} {H$ H$moB© geV© g_ZwXo{eVr nm°{bgr na H$moB© F$U boZo H$m `m
nm°{bgr H$mo Aä`{n©V H$aZo H$m A{YH$mar Zht hmoJm &
11) Cn Ymam (1) Ho$ A§VJ©V {H$gr nm°{bgr Ho$ Am§{eH$ g_ZwXoeZ `m
hñVm§VaU Ho$ _m_bo _|, ~r_mH$Vm© H$s Xo`Vm, Am§{eH$ g_ZwXoeZ `m
hñVm§VaU Ûmam àË`m^yV am{e VH$ gr{_V hmoJr Am¡a Eogo nm°{bgrYmaH$
H$mo, Cgr nm°{bgr Ho$ A§VJ©V Xo` eof am{e H$mo AmJo g_ZwXo{eV `m
A§V[aV H$aZo H$m A{YH$ma Zht hmoJm &
n[a{eï> - 2
Zm_m§H$Z: ~r_m A{Y{Z`_, 1938 H$s Ymam 39 Ho$ AZwgma
1) AnZo hr OrdZ na OrdZ ~r_m nm°{bgr aIZo dmbm nm°{bgrYmaH$,
nm°{bgr boVo g_` AWdm nm°{bgr Ho$ ^wJVmZ Ho$ {bE n[an¹$ hmoZo Ho$ nyd©
{H$gr ^r g_` Eogo ì`pŠV/ì`pŠV`m| H$mo Zm_m§{H$V H$a gH$Vm h¡
{OZH$mo, nm°{bgrYmaH$ H$s _¥Ë`w hmoZo H$s pñW{V _|, nm°{bgr Ho$ A§VJ©V
àË`m^yV am{e H$m ^wJVmZ {H$`m OmEJm &
~eV} {H$ `{X Zm{_Vr Zm~m{bJ h¡ Vmo nm°{bgrYmaH$ Ho$ {bE `h
H$mZyZgå_V hmoJm {H$ dh ~r_mH$Vm© Ûmam ~ZmE JE VarHo$ go {H$gr ì`pŠV
H$mo {Z`wŠV H$ao Omo Zm{_Vr H$s Ad`ñH$Vm Ho$ Xm¡amZ nm°{bgrYmaH$ H$s
_¥Ë`w hmo OmZo na, nm°{bgr Ho$ A§VJ©V àË`m^yV am{e àmá H$a gHo$ &
2) `{X Zm_m§H$Z nm°{bgr Ho$ _yb nmR> _| hr g_m{dï> Zht h¡ Vmo Eogo {H$gr
^r Zm_m§H$Z H$mo {H$`merb ~ZmZo Ho$ {bE, nm°{bgr na Eogm n¥ð>m§H$Z
H$aHo$, ~r_mYmaH$ H$mo CgH$s gyMZm XoH$a VWm nm°{bgr go g§~§{YV
A{^boIm| _| Cgo n§OrH¥$V H$amZm hmoJm Am¡a nm°{bgr Ho$ ^wJVmZ Ho$ {bE
n[an¹$ hmoZo go nyd© Eogo Zm_m§H$Z H$mo EH$ n¥ð>m§H$Z Ho$ Ûmam `m dgr`V Ho$
Ûmam {H$gr ^r g_` {ZañV `m n[ad{V©V H$am`m Om gH$Vm h¡ & {H$ÝVw
O~ VH$ Eogo {ZañVrH$aU `m n[adV©Z H$s {bpIV gyMZm ~r_mH$Vm© H$mo
Zht Xo Xr OmVr, V~ VH$ ~r_mH$Vm© nm°{bgr Ho$ _yb nmR> _| C{„pIV `m
~r_mH$Vm© Ho$ A{^boIm| _| n§OrH¥$V Am¡a ~r_mH$Vm© Ûmam nm°{bgr Ho$ A§VJ©V
gØmdZmnyd©H$ ~ZmE JE Zm{_Vr H$mo {H$E JE {H$gr ^r ^wJVmZ Ho$ {bE
CÎmaXm`r Zht hmoJm &
3) ~r_mH$Vm© nm°{bgrYmaH$ H$mo, Zm_m§H$Z Ho$ n§OrH$aU H$s `m CgHo$
{ZañVrH$aU H$s `m Cg_| n[adV©Z H$s {bpIV nmdVr XoJm Am¡a Eogo
{ZañVrH$aU `m n[adV©Z Ho$ {bE {d{Z`_m| _| {d{Z{X©ï> ewëH$ bo gHo$Jm &
4) Ymam 38 Ho$ AZwgma {H$E JE nm°{bgr Ho$ hñVm§VaU `m g_ZwXoeZ go
Zm_m§H$Z ñdV: {ZañV hmo OmEJm:
`{X nm°{bgr H$m g_ZwXoeZ {H$gr Eogo ~r_mH$Vm© H$mo {H$`m OmVm h¡, Omo
nm°{bgr Ho$ Aä`n©U _yë` Ho$ A§Xa AWdm F$U H$s AXm`Jr na nwZ:
g_ZwXoeZ H$s pñW{V _| nm°{bgr H$s à{V^y{V na {XE JE F$U Ho$ ~Xbo,
g_ZwXoeZ Ho$ g_` nm°{bgr Ho$ OmopI_ H$m dhZ H$aVm h¡ Vmo Cggo
Zm_m§H$Z {ZañV Zht hmoJm, {H$ÝVw Cggo Zm{_Vr Ho$ A{YH$mam| na, nm°{bgr
_| ~r_mH$Vm© Ho$ {hVm| H$s gr_m VH$ hr {dnarV à^md n‹S>oJm &
LIC's New Endowment Plan Page 17 of 20
8) Subject to the terms and conditions of the transfer or
assignment, the insurer shall, from the date of the receipt of the
notice referred to in sub-section (5), recognize the transferee
or assignee named in the notice as the absolute transferee or
assignee entitled to benefit under the policy, and such person
shall be subject to all liabilities and equities to which the
transferor or assignor was subject at the date of the transfer or
assignment and may institute any proceedings in relation to the
policy, obtain a loan under the policy or surrender the policy
without obtaining the consent of the transferor or assignor or
making him a party to such proceedings.
Explanation – Except where the endorsement referred to in
sub-section (1) expressly indicates that the assignment or
transfer is conditional in terms of sub-section (10) hereunder,
every assignment or transfer shall be deemed to be an
absolute assignment or transfer and the assignee or
transferee, as the case may be, shall be deemed to be the
absolute assignee or transferee respectively.
9) Any rights and remedies of an assignee or transferee of a
policy of life insurance under an assignment or transfer
effected prior to the commencement of the Insurance Laws
(Amendment) Act, 2015 shall not be affected by the provisions
of this Section.
10) Notwithstanding any law or custom having the force of law to
the contrary, an assignment in favour of a person made upon
the condition that-
a. The proceeds under the policy shall become payable to the
policyholder or the nominee or nominees in the event of
either the assignee or transferee predeceasing the
insured; or
b. The insured surviving the term of the policy , shall be valid:
Provided that a conditional assignee shall not be entitled to
obtain a loan on the policy or surrender a policy.
11) In the case of the partial assignment or transfer of a policy of
insurance under sub-section (1), the liability of the insurer shall
be limited to the amount secured by partial assignment or
transfer and such policyholder shall not be entitled to further
assign or transfer the residual amount payable under the same
policy.
Annexure - 2
Nomination - As per Section 39 of the Insurance Act 1938
1) The holder of a policy of life insurance on his own life may,
when effecting the policy or at any time before the policy
matures for payment, nominate the person or persons to whom
the money secured by the policy shall be paid in the event of his
death:
Provided that, where any nominee is a minor, it shall be lawful
for the policy holder to appoint any person in the manner laid
down by the insurer, to receive the money secured by policy in
the event of his death during the minority of the nominee.
2) Any such nomination in order to be effectual shall, unless it is
incorporated in the text of the policy itself, be made by an
endorsement on the policy communicated to the insurer and
registered by him in the records relating to the policy and any
such nomination may at any time before the policy matures for
payment be cancelled or changed by an endorsement or a
further endorsement or a will, as the case may be, but unless
notice in writing of any such cancellation or change has been
delivered to the insurer, the insurer shall not be liable for any
payment under the policy made bonafide by him to a nominee
mentioned in the text of the policy or registered in records of the
insurer.
3) The insurer shall furnish to the policy holder a written
acknowledgment of having registered a nomination or a
cancellation or change thereof, and may charge such fee as
may be specified by regulations for registering such
cancellation or change.
4) A transfer or assignment of a policy made in accordance with
Section 38 shall automatically cancel a nomination:
Provided that the assignment of a policy to the insurer who
bears the risk on the policy at the time of the assignment, in
consideration of a loan granted by that insurer on the security
of the policy within its surrender value, or its reassignment on
repayment of the loan shall not cancel a nomination, but shall
affect the rights of the nominee only to the extent of the
insurer’s interest in the policy:
Plan No.- 914
 `h ^r eV© h¡ {H$ `{X hñVm§Var `m g_ZwXo{eVr Ûmam nm°{bgrYmaH$ H$mo
{XE JE F$U Ho$ ~Xbo nm°{bgr Ho$ nyU© `m Am§{eH$ hñVm§VaU `m
g_ZwXoeZ go Zm_m§H$Z {ZañV Zht hmoJm ~pëH$ Zm{_Vr Ho$ {hVm| na Cgr
gr_m VH$ à^md n‹S>oJm, Ohm§ VH$ `WmpñW{V, hñVm§Var `m g_ZwXo{eVr
H$m {hV Cg nm°{bgr _| h¡ &
Am¡a `h ^r eV© h¡ {H$ hñVm§VaU AWdm g_ZwXoeZ Ho$ \$bñdê$n Omo
Zm_m§H$Z ñdV: {ZañV hmo J`m h¡ Vmo g_ZwXo{eVr Ûmam nwZ: g_ZwXoeZ
H$aZo na `m nm°{bgr H$s à{V^y{V Ho$ Abmdm, {bE JE F$U H$s AXm`Jr
H$a {XE OmZo na, nm°{bgrYmaH$ Ho$ nj _| hñVm§Var Ûmam nwZ: hñVm§VaU
{H$E OmZo na, dh Zm_m§H$Z ñdV: hr nwZ: g{H«$` hmo OmEJm &
5) {Og ì`pŠV Ho$ OrdZ H$m ~r_m {H$`m J`m h¡, `{X CgHo$ OrdZH$mb _|
nm°{bgr ^wJVmZ Ho$ {bE n[an¹$ hmo OmVr h¡ AWdm Zm{_Vr (EH$ go
A{YH$ Zm{_Vr hmoZo H$s pñW{V _| gmao Zm{_Vr) H$s _¥Ë`w nm°{bgr ^wJVmZ
Ho$ {bE n[an¹$ hmoZo go nyd© hmoZo na nm°{bgr Ho$ A§VJ©V àË`m^yV am{e H$m
^wJVmZ, `WmpñW{V, nm°{bgrYmaH$ H$mo `m CgHo$ dm[agm| `m H$mZyZr
à{V{Z{Y`m| H$mo `m CÎmam{YH$ma à_mU-nÌ YmaH$ H$mo Xo` hmoJm &
6) Zm{_Vr ì`pŠV `m EH$ go A{YH$ Zm{_Vr hmoZo H$s pñW{V _|, Zm{_V
ì`pŠV`m| Ho$ ~r{_V ì`pŠV go A{YH$ Or{dV ahZo na, nm°{bgr Ho$ A§VJ©V
àË`m^yV am{e Eogo Or{dV ì`pŠV `m ì`pŠV`m| H$mo Xo` hmoJr &
7) Bg Ymam Ho$ AÝ` àmdYmZm| Ho$ AYrZ, `{X H$moB© AnZo hr OrdZ na `m
nm°{bgr boZo dmbm nm°{bgrYmaH$ AnZo _mVm-{nVm H$mo, AnZr nËZr H$mo,
AnZo ~ƒm| H$mo, AnZo n{V:nËZr Am¡a ~ƒm| H$mo `m Bg_| go {H$gr H$mo
Zm{_V H$aVm h¡ Vmo Zm{_Vr Cn Ymam (6) Ho$ A§VJ©V ~r_mYmaH$ Ûmam
CgH$mo `m CZH$mo Xo` am{e Ho$ {bE {hVbm^r A{YH$mar hm|Jo, O~ VH$ {H$
`h {gÕ Z hmo OmE {H$ nm°{bgr _| AnZo A{YH$ma H$s àH¥${V H$mo Ü`mZ
_| aIVo hþE, nm°{bgrYmaH$ Zm{_V ì`pŠV H$mo Eogm A{YH$ma àXmZ Zht
H$a gH$Vm Wm &
8) Cn`w©ŠV C„oI Ho$ AYrZ hr, {Og Zm{_Vr (EH$ go A{YH$ Zm{_Vr hmoZo
na Zm{_{V`m|) na Cn Ymam (7) bmJy hmoVr h¡, CgH$s/CZH$s _¥Ë`w
~r{_V ì`pŠV Ho$ ~mX, {H$ÝVw nm°{bgr Ho$ A§VJ©V àË`m^yV am{e Ho$
^wJVmZ go nyd© hmoZo H$s pñW{V _|, nm°{bgr Ho$ AVJ©V àË`m^yV am{e `m
Bg àH$ma _aZo dmbo ì`pŠV `m ì`pŠV`m| (`WmpñW{V) Ho$ {hñgo H$s
nm°{bgr Ûmam àË`m^yV am{e H$m ^mJ, Zm{_Vr Ho$ dm[agm| H$mo `m H$mZyZr
à{V{Z{Y`m| H$mo `m `WmpñW{V CÎmam{YH$ma à_mU-nÌ YmaH$ H$mo Xo` hmoJm
Am¡a do Cg am{e Ho$ {hVbm^ A{YH$mar hm|Jo &
9) OrdZ ~r_m nm°{bgr H$s àm{á`m| _| go boZXmam| Ho$ A{YH$mam| H$mo g_má
H$aZo Ho$ {bE `m CZ_| ~mYm Ho$ {bE Cn Ymam (7) Am¡a (8) _| go Hw$N>
^r bmJy Zht hmoJm &
10) Cn Ymam (7) Am¡a (8) Ho$ àmdYmZ OrdZ ~r_m H$s CZ g^r nm°{b{g`m|
na bmJy hm|Jo Omo ~r_m H$mZyZ (g§emoYZ) A{Y{Z`_, 2015 Ho$ àma§^ hmoZo
Ho$ ~mX ^wJVmZ Ho$ {bE n[an¹$ hm|Jr &
11) `{X nm°{bgrYmaH$ H$s _¥Ë`w nm°{bgr H$s n[an¹$Vm Ho$ ~mX hmoVr h¡, {H$ÝVw
CgH$s _¥Ë`w Ho$ H$maU CgH$s nm°{bgr Ho$ {hVbm^m| H$m ^wJVmZ Cgo Zht
{H$`m Om gH$m h¡ Vmo CgHo$ Zm{_Vr CgH$s nm°{bgr H$s àm{á`m| Am¡a
{hVbm^m| Ho$ hH$Xma hm|Jo &
12) Bg Ymam Ho$ àmdYmZ OrdZ ~r_m H$s {H$gr ^r Eogr nm°{bgr na bmJy
Zht hm|Jo, {Og na {ddm{hV _{hbm g§n{Îm A{Y{Z`_, 1874 H$s Ymam 6
bmJy hmoVr h¡ `m {H$gr g_` bmJy ahr h¡ &
~eV} {H$ `{X AnZo OrdZ H$m, AnZr nËZr H$m, AnZo ~ƒm| H$m `m BZ_|
go {H$gr H$m ^r ~r_m H$amZo dmbo ì`pŠV H$s nËZr Ho$ nj _| ~r_m H$mZyZ
(g§emoYZ) A{Y{Z`_, 2015 Ho$ àma§^ go nyd© `m ~mX _| {H$`m J`m
Zm_m§H$Z Bg Ymam Ho$ A§VJ©V {H$E JE Zm_m§H$Z Ho$ ê$n _| A{^ì`ŠV h¡
(Mmho dh nm°{bgr Ho$ \$bH$ na hmo `m Zht) Vmo _mZm OmEJm {H$ CŠV
Ymam 6 nm°{bgr na bmJy Zht hmoVr Am¡a Z hr Cgo nm°{bgr na bmJy
{H$`m J`m h¡ &
n[a{eï> -3
~r_m A{Y{Z`_, 1938 Ho$ AZwgma Ymam 45
1) nm°{bgr H$s VmarI AWm©V² nm°{bgr Omar H$aZo H$s VmarI AWdm OmopI_
àma§^ hmoZo H$s VmarI AWdm nm°{bgr Ho$ nwZM©bZ H$s VmarI AWdm
nm°{bgr _| AZwd¥{Õ H$s VmarI (BZ_| Omo ^r ~mX _| hmo) Ho$ ~mX VrZ df©
g_má hmo OmZo na OrdZ ~r_m H$s {H$gr ^r nm°{bgr na {H$gr ^r
AmYma na H$moB© àý Zht {H$`m OmEJm &
2) nm°{bgr Omar H$aZo H$s VmarI AWdm OmopI_ àma§^ hmoZo H$s VmarI
AWdm nm°{bgr Ho$ nwZM©bZ H$s VmarI AWdm nm°{bgr _| AZwd¥{Õ H$s
VmarI (BZ_| go Omo ^r ~mX _| hmo) go VrZ dfm] Ho$ A§Xa OrdZ ~r_m
nm°{bgr na H$nQ> Ho$ AmYma na àíZ {H$`m Om gH$Vm h¡:
LIC's New Endowment Plan Page 18 of 20
Provided further that the transfer or assignment of a policy,
whether wholly or in part, in consideration of a loan advanced
by the transferee or assignee to the policyholder, shall not
cancel the nomination but shall affect the rights of the nominee
only to the extent of the interest of the transferee or assignee,
as the case may be, in the policy:
Provided also that the nomination, which has been
automatically cancelled consequent upon the transfer or
assignment, the same nomination shall stand automatically
revived when the policy is reassigned by the assignee or
retransferred by the transferee in favour of the policyholder on
repayment of loan other than on a security of policy to the
insurer.
5) Where the policy matures for payment during the lifetime of the
person whose life is insured or where the nominee or, if there
are more nominees than one, all the nominees die before the
policy matures for payment, the amount secured by the policy
shall be payable to the policyholder or his heirs or legal
representatives or the holder of a succession certificate, as the
case may be.
6) Where the nominee or if there are more nominees than one, a
nominee or nominees survive the person whose life is insured,
the amount secured by the policy shall be payable to such
survivor or survivors.
7) Subject to the other provisions of this Section, where the holder
of a policy of insurance on his own life nominates his parents,
or his spouse, or his children, or his spouse and children, or any
of them, the nominee or nominees shall be beneficially entitled
to the amount payable by the insurer to him or them under sub-
section (6) unless it is proved that the holder of the policy,
having regard to the nature of his title to the policy, could not
have conferred any such beneficial title on the nominee.
8) Subject as aforesaid, where the nominee, or if there are more
nominees than one, a nominee or nominees, to whom sub-
section (7) applies, die after the person whose life is insured
but before the amount secured by the policy is paid, the amount
secured by the policy, or so much of the amount secured by the
policy as represents the share of the nominee or nominees so
dying (as the case may be), shall be payable to the heirs or
legal representatives of the nominee or nominees or the holder
of a succession certificate, as the case may be, and they shall
be beneficially entitled to such amount.
9) Nothing in sub-sections (7) and (8) shall operate to destroy or
impede the right of any creditor to be paid out of the proceeds of
any policy of life insurance.
10) The provisions of sub-sections (7) and (8) shall apply to all
policies of life insurance maturing for payment after the
commencement of the Insurance Laws (Amendment) Act,
2015.
11) Where a policyholder dies after the maturity of the policy but
the proceeds and benefit of his policy has not been made to
him because of his death, in such a case, his nominee shall be
entitled to the proceeds and benefit of his policy.
12) The provisions of this Section shall not apply to any policy of life
insurance to which Section 6 of the Married Women’s Property
Act, 1874, applies or has at any time applied;
Provided that where a nomination made whether before or
after the commencement of the Insurance Laws (Amendment)
Act, 2015, in favour of the wife of the person who has insured
his life or of his wife and children or any of them is expressed,
whether or not on the face of the policy, as being made under
this Section, the said Section 6 shall be deemed not to apply or
not to have applied to the policy.
Annexure - 3
Section 45 as per the Insurance Act 1938
1) No policy of life insurance shall be called in question on any
ground whatsoever after the expiry of three years from the date
of the policy, i.e. from the date of issuance of the policy or the
date of commencement of risk or the date of revival of the
policy or the date of the rider to the policy, whichever is later.
2) A policy of life insurance may be called in question at any time
within three years from the date of issuance of the policy or the
date of commencement of risk or the date of revival of the
policy or the date of the rider to the policy, whichever is later on
the ground of fraud:
Plan No.- 914
 ~eV} {H$ ~r_mH$Vm© H$mo CZ g^r AmYmam| Am¡a gm_J«r H$s {bpIV gyMZm
~r_mYmaH$ H$mo, `m H$mZyZr à{V{Z{Y`m| H$mo, Zm{_{V`m| `m g_ZwXo{e{V`m|
H$mo XoZr hmoJr, {OZ na Eogm {ZU©` AmYm[aV h¡ &
ì`m»`m - I: Bg Cn Ymam Ho$ CÔoí` Ho$ {bE "'H$nQ>'' H$m AW©
~r_mYmaH$ `m CgHo$ A{^H$Vm© Ûmam {H$`m J`m H$moB© ^r Eogm {ZåZ{bpIV
H$m`© hmoJm Omo ~r_mH$Vm© H$mo R>JZo `m ~r_mH$Vm© H$mo OrdZ ~r_m nm°{bgr
Omar H$aZo hoVw à^m{dV H$aZo Ho$ {bE {H$`m J`m hmo:-
H$) Eogo VÏ` H$m gwPmd Omo gË` Z hmo Am¡a {OgHo$ gË` hmoZo na
~r_mYmaH$ H$mo {dœmg Z hmo;
I) {H$gr {dœmg `m VÏ` H$m kmZ hmoZo na ^r ~r_mYmaH$ Ûmam {H$gr
VÏ` H$mo g{H«$`Vm go Nw>nmZm;
J) YmoIm XoZo Ho$ {bE Cn`wŠV H$moB© AÝ` H$m`©;
K) AÝ` H$moB© Eogr Ìw{Q>, {Ogo H$mZyZ {d{eï> ê$n go H$nQ>H$mar Kmo{fV
H$aVm hmo &
ì`m»`m - II: ~r_mH$Vm© Ûmam OmopI_ Ho$ _yë`m§H$Z H$mo à^m{dV H$aZo H$s
g§^mdZm dmbo VÏ`m| na _mÌ Mwn ahZm H$nQ> Zht h¡, O~ VH$ {H$ _m_bo
H$s n[apñW{V`m§ Eogr Z hm| {H$ `{X CZ na {dMma {H$`m OmE Vmo Mwn
ahZm ~r_mYmaH$ H$m `m CgHo$ A{^H$Vm© H$m H$Îm©ì` h¡ `m O~ VH$ {H$
CgH$m Mwn ahZm ñd`§ _| hr ~mobZo Ho$ g_mZ Z hmo &
3) Cn Ymam (2) _| Mmho Hw$N> ^r C„oI {H$`m J`m hmo, `{X ~r_mYmaH$ `h
{gÕ H$a gH$Vm h¡ {H$ CgHo$ kmZ Am¡a {dœmg Ho$ AZwgma {_Ï`m H$WZ
`m _hËdnyU© VÏ` H$m Nw>nm`m OmZm ghr Wm AWdm VÏ` H$mo OmZ~yPH$a
BÀN>mnyd©H$ Zht Nw>nm`m J`m Wm AWdm _hËdnyU© VÏ` H$m Eogm {_Ï`m
H$WZ `m Nw>nmd ~r_mH$Vm© H$s OmZH$mar _| h¡, Vmo H$moB© ~r_mH$Vm© H$nQ> Ho$
AmYma na OrdZ ~r_m nm°{bgr na {H$E JE Xmdo H$mo Im[aO Zht H$aoJm &
~eV} {H$ H$nQ> H$s pñW{V _|, `{X nm°{bgrYmaH$ Or{dV Zht h¡ Vmo Cgo
JbV gm{~V H$aZo H$s {Oå_oXmar bm^m{W©`m| na hmoJr &
ì`m»`m: Omo ì`pŠV ~r_m H$ama H$m AmJ«h Ed§ _mob-Vmob H$aVm h¡, Cgo
H$ama H$mo ~ZmZo Ho$ CÔoí` Ho$ {bE ~r_mH$Vm© H$m A{^H$Vm© g_Pm OmEJm&
4) nm°{bgr Omar hmoZo H$s VmarI go `m OmopI_ àma§^ hmoZo H$s VmarI go `m
nm°{bgr Ho$ nwZM©bZ H$s VmarI go `m nm°{bgr _| AZwd¥{Õ Omo‹S>Zo H$s
VmarI go (BZ_| Omo ^r ~mX _| hmo) VrZ df© Ho$ A§Xa ~r_m nm°{bgr na
Bg AmYma na àý {H$`m Om gH$Vm h¡ {H$ àñVmd nÌ _| `m AÝ` {H$gr
XñVmdoO _|, {OgHo$ AmYma na nm°{bgr Omar H$s JB© Wr `m nwZM©{bV H$s
JB© Wr `m AZwd¥{Õ Omar H$s JB© Wr, ~r{_V ì`pŠV H$m àË`m{eV Am`w go
g§~§{YV H$moB© H$WZ AWdm {H$gr _hËdnyU© VÏ` H$mo JbV VarHo$ go
Nw>nm`m J`m Wm &
~eV} {H$ ~r_mH$Vm© H$mo ~r{_V ì`pŠV `m H$mZyZr à{V{Z{Y`m| `m Zm{_{V`m|
`m g_ZwXo{e{V`m| H$mo CZ AmYmam| Am¡a gm_J«r H$s {bpIV gyMZm XoZr
hmoJr, {OZ na OrdZ ~r_m nm°{bgr H$mo aÔ H$aZo H$m {ZU©` AmYm[aV h¡ &
`h ^r eV© h¡ {H$ `{X nm°{bgr H$mo {_Ï`m H$WZ `m _hËdnyU© VÏ` Ho$
Nw>nmZo Ho$ AmYma na (Am¡a H$nQ> Ho$ AmYma na Zht) aÔ {H$`m OmVm h¡
Vmo nm°{bgr na aÔ H$aZo H$s VmarI VH$ g§J«h H$s JB© àr{_`_, Eogo
aÔrH$aU H$s VmarI go 90 {XZm| H$s Ad{Y _| ~r_mYmaH$ H$mo `m
~r_mYmaH$ Ho$ H$mZyZr à{V{Z{Y`m| H$mo `m Zm{_{V`m| H$mo `m g_ZwXo{e{V`m|
H$mo AXm H$a Xr OmEJr &
ì`m»`m: Bg Cn Ymam Ho$ CÔoí` Ho$ {bE, {_Ï`m H$WZ H$mo `m VÏ`
Nw>nmZo H$mo V~ VH$ _hËdnyU© Zht g_Pm OmEJm O~ VH$ {H$ ~r_mH$Vm©
Ûmam ñdrH$ma {H$E OmopI_ na CgH$m grYm à^md Z hmo & `h {gÕ H$aZo
H$s {Oå_oXmar ~r_mH$Vm© H$s hmoJr {H$ `{X ~r_mH$Vm© H$mo CŠV VÏ` H$s
OmZH$mar hmoVr Vmo ~r_mYmaH$ H$mo OrdZ ~r_m nm°{bgr Omar Zht H$s
OmVr&
5) `{X ~r_mH$Vm© Eogm H$aZo H$m A{YH$mar h¢ Vmo Bg Ymam H$mo H$moB© àmdYmZ
~r_mYmaH$ Ho$ {H$gr ^r g_` Am`w H$m à_mU _m§JZo go ~r_mH$Vm© H$mo amoH$
Zht gH$Vm Am¡a {H$gr ^r nm°{bgr H$mo Ho$db Bg{bE àý{MpÝhV Zht
_mZm OmEJm {H$ ~r_mYmaH$ H$s Am`w àñVmd nÌ _| JbV ~VmZo H$m à_mU
~mX _| {_bZo na, nm°{bgr H$s eVm] _| g_m`moOZ {H$`m J`m h¡ &
LIC's New Endowment Plan Page 19 of 20
Provided that the insurer shall have to communicate in writing
to the insured or the legal representatives or nominees or
assignees of the insured the grounds and materials on which
such decision is based.
Explanation I - For the purposes of this sub-section, the
expression “fraud” means any of the following acts committed
by the insured or by his agent, with the intent to deceive the
insurer or to induce the insurer to issue a life insurance policy:-
a) the suggestion, as a fact of that which is not true and which
the insured does not believe to be true;
b) the active concealment of a fact by the insured having
knowledge or belief of the fact;
c) any other act fitted to deceive; and
d) any such act or omission as the law specifically declares to
be fraudulent.
Explanation II - Mere silence as to facts likely to affect the
assessment of the risk by the insurer is not fraud, unless the
circumstances of the case are such that regard being had to
them, it is the duty of the insured or his agent, keeping silence
to speak, or unless his silence is, in itself, equivalent to speak.
3) Notwithstanding anything contained in sub-section (2), no
insurer shall repudiate a life insurance policy on the ground of
fraud if the insured can prove that the misstatement of or
suppression of a material fact was true to the best of his
knowledge and belief or that there was no deliberate intention
to suppress the fact or that such misstatement of or
suppression of a material fact are within the knowledge of the
insurer:
Provided that in case of fraud, the onus of disproving lies upon
the beneficiaries, in case the policyholder is not alive.
Explanation – A person who solicits and negotiates a contract
of insurance shall be deemed for the purpose of the formation
of the contract, to be the agent of the insurer.
4) A policy of life insurance may be called in question at any time
within three years from the date of issuance of the policy or the
date of commencement of risk or the date of revival of the
policy or the date of the rider to the policy, whichever is later, on
the ground that any statement of or suppression of a fact
material to the expectancy of the life of the insured was
incorrectly made in the proposal or other document on the
basis of which the policy was issued or revived or rider issued:
Provided that the insurer shall have to communicate in writing
to the insured or the legal representatives or nominees or
assignees of the insured the grounds and materials on which
such decision to repudiate the policy of life insurance is based:
Provided further that in case of repudiation of the policy on the
ground of misstatement or suppression of a material fact, and
not on the ground of fraud the premiums collected on the policy
till the date of repudiation shall be paid to the insured or the
legal representatives or nominees or assignees of the insured
within a period of ninety days from the date of such repudiation.
Explanation - For the purposes of this sub-section, the
misstatement of or suppression of fact shall not be considered
material unless it has a direct bearing on the risk undertaken by
the insurer, the onus is on the insurer to show that had the
insurer been aware of the said fact no life insurance policy
would have been issued to the insured.
5) Nothing in this Section shall prevent the insurer from calling for
proof of age at any time if he is entitled to do so, and no policy
shall be deemed to be called in question merely because the
terms of the policy are adjusted on subsequent proof that the
age of the life insured was incorrectly stated in the proposal.
Plan No.- 914
n[a{eï>-4 / Annexure - 4
Hw$b ^wJVmZ H$s JB© àr{_`_m| na bmJy Jma§Q>rH¥$V Aä`n©U _yë` KQ>H$
Guaranteed Surrender Value factors applicable to total premiums paid
nm°{bgr nm°{bgr Ad{Y / Policy Term "
df©
Policy
12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35
Year
1 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
2 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
3 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00%
4 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00%
5 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00%
6 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00%
7 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00%
8 57.50% 56.00% 55.00% 54.29% 53.75% 53.33% 53.00% 52.73% 52.50% 52.31% 52.14% 52.00% 51.88% 51.76% 51.67% 51.58% 51.50% 51.43% 51.36% 51.30% 51.25% 51.20% 51.15% 51.11%
9 65.00% 62.00% 60.00% 58.57% 57.50% 56.67% 56.00% 55.45% 55.00% 54.62% 54.29% 54.00% 53.75% 53.53% 53.33% 53.16% 53.00% 52.86% 52.73% 52.61% 52.50% 52.40% 52.31% 52.22%
10 72.50% 68.00% 65.00% 62.86% 61.25% 60.00% 59.00% 58.18% 57.50% 56.92% 56.43% 56.00% 55.63% 55.29% 55.00% 54.74% 54.50% 54.29% 54.09% 53.91% 53.75% 53.60% 53.46% 53.33%
11 90.00% 74.00% 70.00% 67.14% 65.00% 63.33% 62.00% 60.91% 60.00% 59.23% 58.57% 58.00% 57.50% 57.06% 56.67% 56.32% 56.00% 55.71% 55.45% 55.22% 55.00% 54.80% 54.62% 54.44%
12 90.00% 90.00% 75.00% 71.43% 68.75% 66.67% 65.00% 63.64% 62.50% 61.54% 60.71% 60.00% 59.38% 58.82% 58.33% 57.89% 57.50% 57.14% 56.82% 56.52% 56.25% 56.00% 55.77% 55.56%
13 90.00% 90.00% 75.71% 72.50% 70.00% 68.00% 66.36% 65.00% 63.85% 62.86% 62.00% 61.25% 60.59% 60.00% 59.47% 59.00% 58.57% 58.18% 57.83% 57.50% 57.20% 56.92% 56.67%
14 90.00% 90.00% 76.25% 73.33% 71.00% 69.09% 67.50% 66.15% 65.00% 64.00% 63.13% 62.35% 61.67% 61.05% 60.50% 60.00% 59.55% 59.13% 58.75% 58.40% 58.08% 57.78%
15 90.00% 90.00% 76.67% 74.00% 71.82% 70.00% 68.46% 67.14% 66.00% 65.00% 64.12% 63.33% 62.63% 62.00% 61.43% 60.91% 60.43% 60.00% 59.60% 59.23% 58.89%
16 90.00% 90.00% 77.00% 74.55% 72.50% 70.77% 69.29% 68.00% 66.88% 65.88% 65.00% 64.21% 63.50% 62.86% 62.27% 61.74% 61.25% 60.80% 60.38% 60.00%
17 90.00% 90.00% 77.27% 75.00% 73.08% 71.43% 70.00% 68.75% 67.65% 66.67% 65.79% 65.00% 64.29% 63.64% 63.04% 62.50% 62.00% 61.54% 61.11%
18 90.00% 90.00% 77.50% 75.38% 73.57% 72.00% 70.63% 69.41% 68.33% 67.37% 66.50% 65.71% 65.00% 64.35% 63.75% 63.20% 62.69% 62.22%
19 90.00% 90.00% 77.69% 75.71% 74.00% 72.50% 71.18% 70.00% 68.95% 68.00% 67.14% 66.36% 65.65% 65.00% 64.40% 63.85% 63.33%
20 90.00% 90.00% 77.86% 76.00% 74.38% 72.94% 71.67% 70.53% 69.50% 68.57% 67.73% 66.96% 66.25% 65.60% 65.00% 64.44%
21 90.00% 90.00% 78.00% 76.25% 74.71% 73.33% 72.11% 71.00% 70.00% 69.09% 68.26% 67.50% 66.80% 66.15% 65.56%
22 90.00% 90.00% 78.13% 76.47% 75.00% 73.68% 72.50% 71.43% 70.45% 69.57% 68.75% 68.00% 67.31% 66.67%
23 90.00% 90.00% 78.24% 76.67% 75.26% 74.00% 72.86% 71.82% 70.87% 70.00% 69.20% 68.46% 67.78%
24 90.00% 90.00% 78.33% 76.84% 75.50% 74.29% 73.18% 72.17% 71.25% 70.40% 69.62% 68.89%
25 90.00% 90.00% 78.42% 77.00% 75.71% 74.55% 73.48% 72.50% 71.60% 70.77% 70.00%
26 90.00% 90.00% 78.50% 77.14% 75.91% 74.78% 73.75% 72.80% 71.92% 71.11%
27 90.00% 90.00% 78.57% 77.27% 76.09% 75.00% 74.00% 73.08% 72.22%
28 90.00% 90.00% 78.64% 77.39% 76.25% 75.20% 74.23% 73.33%
29 90.00% 90.00% 78.70% 77.50% 76.40% 75.38% 74.44%
30 90.00% 90.00% 78.75% 77.60% 76.54% 75.56%
31 90.00% 90.00% 78.80% 77.69% 76.67%
32 90.00% 90.00% 78.85% 77.78%
33 90.00% 90.00% 78.89%
34 90.00% 90.00%
35 90.00%

n[a{eï>-5 / Annexure - 5
Jma§Q>rH¥$V Aä`n©U _yë` H$maH$ {Z{hV ~moZg Ho$ {bE bmJy
Guaranteed Surrender Value factors applicable to vested bonus
nm°{bgr nm°{bgr Ad{Y / Policy Term "
df©
Policy
12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35
Year
1 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
2 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
3 18.60% 18.16% 17.85% 17.66% 17.58% 17.58% 17.03% 16.58% 16.22% 15.93% 15.72% 15.55% 15.42% 15.28% 15.13% 14.94% 14.13% 13.20% 12.06% 10.61% 6.01% 6.01% 3.06% 2.00%
4 19.18% 18.60% 18.16% 17.85% 17.66% 17.58% 17.58% 17.03% 16.58% 16.22% 15.93% 15.72% 15.55% 15.42% 15.28% 15.13% 14.94% 14.13% 13.20% 12.06% 10.61% 6.01% 6.01% 3.06%
5 19.93% 19.18% 18.60% 18.16% 17.85% 17.66% 17.58% 17.58% 17.03% 16.58% 16.22% 15.93% 15.72% 15.55% 15.42% 15.28% 15.13% 14.94% 14.13% 13.20% 12.06% 10.61% 6.01% 6.01%
6 20.85% 19.93% 19.18% 18.60% 18.16% 17.85% 17.66% 17.58% 17.58% 17.03% 16.58% 16.22% 15.93% 15.72% 15.55% 15.42% 15.28% 15.13% 14.94% 14.13% 13.20% 12.06% 10.61% 6.01%
7 21.99% 20.85% 19.93% 19.18% 18.60% 18.16% 17.85% 17.66% 17.58% 17.58% 17.03% 16.58% 16.22% 15.93% 15.72% 15.55% 15.42% 15.28% 15.13% 14.94% 14.13% 13.20% 12.06% 10.61%
8 23.38% 21.99% 20.85% 19.93% 19.18% 18.60% 18.16% 17.85% 17.66% 17.58% 17.58% 17.03% 16.58% 16.22% 15.93% 15.72% 15.55% 15.42% 15.28% 15.13% 14.94% 14.13% 13.20% 12.06%
9 25.05% 23.38% 21.99% 20.85% 19.93% 19.18% 18.60% 18.16% 17.85% 17.66% 17.58% 17.58% 17.03% 16.58% 16.22% 15.93% 15.72% 15.55% 15.42% 15.28% 15.13% 14.94% 14.13% 13.20%
10 27.06% 25.05% 23.38% 21.99% 20.85% 19.93% 19.18% 18.60% 18.16% 17.85% 17.66% 17.58% 17.58% 17.03% 16.58% 16.22% 15.93% 15.72% 15.55% 15.42% 15.28% 15.13% 14.94% 14.13%
11 30.00% 27.06% 25.05% 23.38% 21.99% 20.85% 19.93% 19.18% 18.60% 18.16% 17.85% 17.66% 17.58% 17.58% 17.03% 16.58% 16.22% 15.93% 15.72% 15.55% 15.42% 15.28% 15.13% 14.94%
12 35.00% 30.00% 27.06% 25.05% 23.38% 21.99% 20.85% 19.93% 19.18% 18.60% 18.16% 17.85% 17.66% 17.58% 17.58% 17.03% 16.58% 16.22% 15.93% 15.72% 15.55% 15.42% 15.28% 15.13%
13 35.00% 30.00% 27.06% 25.05% 23.38% 21.99% 20.85% 19.93% 19.18% 18.60% 18.16% 17.85% 17.66% 17.58% 17.58% 17.03% 16.58% 16.22% 15.93% 15.72% 15.55% 15.42% 15.28%
14 35.00% 30.00% 27.06% 25.05% 23.38% 21.99% 20.85% 19.93% 19.18% 18.60% 18.16% 17.85% 17.66% 17.58% 17.58% 17.03% 16.58% 16.22% 15.93% 15.72% 15.55% 15.42%
15 35.00% 30.00% 27.06% 25.05% 23.38% 21.99% 20.85% 19.93% 19.18% 18.60% 18.16% 17.85% 17.66% 17.58% 17.58% 17.03% 16.58% 16.22% 15.93% 15.72% 15.55%
16 35.00% 30.00% 27.06% 25.05% 23.38% 21.99% 20.85% 19.93% 19.18% 18.60% 18.16% 17.85% 17.66% 17.58% 17.58% 17.03% 16.58% 16.22% 15.93% 15.72%
17 35.00% 30.00% 27.06% 25.05% 23.38% 21.99% 20.85% 19.93% 19.18% 18.60% 18.16% 17.85% 17.66% 17.58% 17.58% 17.03% 16.58% 16.22% 15.93%
18 35.00% 30.00% 27.06% 25.05% 23.38% 21.99% 20.85% 19.93% 19.18% 18.60% 18.16% 17.85% 17.66% 17.58% 17.58% 17.03% 16.58% 16.22%
19 35.00% 30.00% 27.06% 25.05% 23.38% 21.99% 20.85% 19.93% 19.18% 18.60% 18.16% 17.85% 17.66% 17.58% 17.58% 17.03% 16.58%
20 35.00% 30.00% 27.06% 25.05% 23.38% 21.99% 20.85% 19.93% 19.18% 18.60% 18.16% 17.85% 17.66% 17.58% 17.58% 17.03%
21 35.00% 30.00% 27.06% 25.05% 23.38% 21.99% 20.85% 19.93% 19.18% 18.60% 18.16% 17.85% 17.66% 17.58% 17.58%
22 35.00% 30.00% 27.06% 25.05% 23.38% 21.99% 20.85% 19.93% 19.18% 18.60% 18.16% 17.85% 17.66% 17.58%
23 35.00% 30.00% 27.06% 25.05% 23.38% 21.99% 20.85% 19.93% 19.18% 18.60% 18.16% 17.85% 17.66%
24 35.00% 30.00% 27.06% 25.05% 23.38% 21.99% 20.85% 19.93% 19.18% 18.60% 18.16% 17.85%
25 35.00% 30.00% 27.06% 25.05% 23.38% 21.99% 20.85% 19.93% 19.18% 18.60% 18.16%
26 35.00% 30.00% 27.06% 25.05% 23.38% 21.99% 20.85% 19.93% 19.18% 18.60%
27 35.00% 30.00% 27.06% 25.05% 23.38% 21.99% 20.85% 19.93% 19.18%
28 35.00% 30.00% 27.06% 25.05% 23.38% 21.99% 20.85% 19.93%
29 35.00% 30.00% 27.06% 25.05% 23.38% 21.99% 20.85%
30 35.00% 30.00% 27.06% 25.05% 23.38% 21.99%
31 35.00% 30.00% 27.06% 25.05% 23.38%
32 35.00% 30.00% 27.06% 25.05%
33 35.00% 30.00% 27.06%
34 35.00% 30.00%
35 35.00%

LIC's New Endowment Plan Page 20 of 20 Plan No.- 914