LIC's Bima Lakshmi

Death benefit payable in case of death of the Life Assured during the policy term provided the policy is in-force i.e. all due premiums have been paid shall be “Sum Assured on Death” along with accrued Guaranteed Additions. “Sum Assured on Death” is defined as the higher of 'Basic Sum Assured' or 10 times of ('Tabular Annual Premium' multiplied by Modal adjustment factor). This Death Benefit shall not be less than 105% of total premiums paid up to the date of death. Where, (i) Modal adjustment factor shall depend on the mode of premium payment opted by the Policyholder and shall be as under: 3 Mode of Premium Modal adjustment Payment factor Yearly 1.0000 Half-Yearly 1.0180 Quarterly 1.0272 Monthly 1.0332 (ii) “Tabular Annual Premium” shall be the premium for the chosen Survival Benefit Option and Basic Sum Assured based on the age of the Life Assured and the Premium Paying Term chosen before allowing any rebate or loadings or any underwriting extra and does not include any taxes and Rider premium(s), if any. (iii) “Total Premiums Paid” means the total of all premiums paid under the Base product excluding any extra premium and taxes, if collected explicitly. B. Maturity Benefit: On Life Assured surviving to the stipulated Date of Maturity, provided the policy is in-force, “Sum Assured on Maturity” along with accrued Guaranteed Additions shall be payable, where “Sum Assured on Ma

On Life Assured surviving to the stipulated Date of Maturity, provided the policy is in-force, “Sum Assured on Maturity” along with accrued Guaranteed Additions shall be payable, where “Sum Assured on Maturity” is equal to Basic Sum Assured. C. Survival Benefits: On the Life Assured surviving to the end of each of the specified durations during the policy term, provided all due premiums have been paid, Survival Benefit in lumpsum or a specified percentage of Basic Sum Assured shall be payable to the Life Assured at periodic intervals depending on the Option chosen at the proposal stage. This Option once chosen cannot be changed later. Option A: On the Life Assured surviving to the end of the Premium Paying Term provided all due premiums have been paid, 50 % of Basic Sum Assured shall be payable as Survival Benefit at the end of the Premium Paying Term. Option B and Option C: On the Life Assured surviving to the end of the specified policy years provided all due premiums have been paid, an amount equal to a specified percentage of the Basic Sum Assured shall be payable as Survival Benefit as per the chosen Option. The following table gives the details of frequency of payment of Survival Benefits and the percentage of Survival Benefit payable for the chosen 4 Option. Survival Benefit as a % of Basic End of the Sum Assured Policy Year Option B Option C 2 7.5% --- 4 7.5% 15% 6 7.5%

The Survival Benefits payable under a paid-up policy shall be equal to Survival Benefit payable under in-force policy 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. These Survival Benefits shall be payable on Life Assured surviving to each of the specified durations during the policy term as per the chosen Option. However, if Survival Benefit Deferment Option has been exercised and payment of such Survival Benefit(s) has 17 not yet been made, the accumulated Survival Benefits as specified in Para 4.IV above shall be payable along with the benefit payable on termination of the policy in the form of death, surrender or maturity whichever is earlier. Guaranteed Additions for Paid-up policy: The Guaranteed Addition under a Paid-Up policy shall accrue at the end of each policy year throughout the Policy Term. The Guaranteed Addition under a paid-up policy shall be sum of the following: a) For the period for which full years' premiums have been paid: The Guaranteed Additions accrued under the policy with the rate as applicable under an in-force policy shall remain attached under the policy. b) For the policy year for which the full years' premiums have not been paid (the year in which the policy becomes paid-up) and for subsequent years: The Guaranteed Additions shall be as

Death Paid-Up Sum Assured shall be payable. In addition, accrued Guaranteed Additions at the applicable rates shall also be payable. b) On Life Assured surviving to the Maturity Date: Maturity Paid-Up Sum Assured shall be payable. In addition, accrued Guaranteed Additions at the applicable rates shall also be payable. II. If at least three full years' premiums have been paid. Under a paid-up policy, where atleast three full years' premiums have been paid, Auto Cover Period as mentioned below shall be applicable. Auto Cover Period: “Auto Cover Period” under a paid-up policy shall be the period from due date of First Unpaid Premium (FUP). The duration of Auto Cover Period shall be as under: