LIC's Jeevan Umang

On 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 as under: i. On death before the commencement of Risk: Return of premium/s paid without interest excluding taxes, extra premium and rider premium, if any, shall be payable. ii. On Death after the commencement of Risk: Death Benefit payable, shall be “Sum Assured on Death” along with vested Simple Reversionary Bonuses (as mentioned in (d) below) and Final Additional bonus, if any. Where “Sum Assured on Death” is defined as the higher of 7 times of annualised premium or Basic Sum Assured. This death benefit shall not be less than 105% of the total premiums paid upto the date of death. Where, i. “Annualized Premium” shall be the premium payable in a year, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums ii. “Total Premiums Paid” means total of all the premiums paid under the base product, excluding any extra premium, and taxes, if collected explicitly. In case LIC's Premium Waiver Benefit Rider is opted for, in the event of death of Proposer, any subsequent Premiums which are waived shall be deemed to have been received and be included in the Total Premiums Paid. b) Survival Benefit: On the life assured surviving to the end of the premium paying term, provided all due premiums have been paid, a survival

On the life assured surviving to the end of the policy term, provided all due premiums have been paid, “Sum Assured on Maturity” along with vested Simple Reversionary Bonuses (as mentioned in (d) below) and Final Additional bonus, if any, shall be payable. Where “Sum Assured on Maturity” is equal to Basic Sum Assured. d) Participation in profits: Depending upon the Corporation's experience with regard to policies issued under this plan, the policy shall participate in following manner. During the premium paying term: Policies shall be eligible to receive Simple Reversionary Bonuses declared as per the experience of the Corporation during the premium paying term, provided the policy is in-force. Once declared, they form part of the guaranteed benefits of the plan on such terms as declared by the Corporation. In case the premiums are not duly paid, the policy shall cease to participate in future profits during premium paying term. In the event of policy being surrendered, the Surrender Value of vested bonuses, if any, as applicable on the date of surrender. Final Additional Bonus may also be declared under an in-force policy in the year when such policy results into a claim by death. However, Final Additional Bonus shall not be payable under paid-up policy or on surrender of a policy during the premium paying term. 3 After the premium paying term (applicable only for fully paid-u

1. If Maturity Paid-up Sum Assured is less than the minimum Basic Sum Assured i.e. ₹ 2 lakhs, Survival Benefits shall not be paid under such policies.

Loan shall be available, within the surrender value, during the policy term subject to following: i. Loan can be availed under the policy after completion of first policy year provided one full year's premium(s) has been paid. ii. The maximum loan allowed shall be as under: If loan is availed during the premium paying term: The maximum loan allowed under the policy, as a percentage of Surrender Value, shall be as under: Before payment of two After payment of two Policy Status full year's premiums full year's premiums Under In-force policies 50% 75% Under Paid-up policies 40% 65% Interest on Loan during the premium paying term 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. In case the loan is not repaid during the premium paying term and if there is default in interest payment, then due interest on the loan shall be recovered from survival benefits due or any other amount payable under the policy. If loan is availed after the premium paying term: The maximum permissible amount of new loan (where no previous loan taken earlier is outstanding) for policies which are entitled for survival benefits shall be arrived at in such a way that the effective annual interest amount payable on loan does not exceed 50% of the annual survival benefit payable under the policy. Interest

If the Life Assured (whether sane or insane) commits suicide at any time within 12 months from the date of commencement of risk, the Nominee or Beneficiary of the Life Assured shall be entitled to 80% of the total premiums paid till the date of death,, provided the policy is in-force. This clause shall not be applicable in case age at entry of the Life Assured is below 8 years. 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 or the surrender value available as on the date of death, shall be payable. The Nominee or Beneficiary of the Life Assured shall not be entitled to any other claim under the policy. This clause shall not be applicable: a) In case the age of Life Assured is below 8 years at the time of revival; or b) For a policy lapsed without acquiring paid-up value and nothing shall be payable under such policy. Note: Premiums referred above shall not include any taxes if collected explicitly, extra premiums and any rider premium(s) other than Term Assurance Rider, if any. BENEFIT ILLUSTRATION Distribution Channel: Offline Proposal No: Name of the Prospect/ Name of the Lic's Jeevan Umang Policyholder: Product: (A Par, Non-Linked, Individual, Age: Tag Line: Savings, Whole Life Insurance Plan) Unique Name of the Life Assured: 512N312V03