LIC's Jeevan Utsav Single premium

On death of the Life Assured after the date of commencement of risk, Death Benefit equal to “Sum Assured on Death” along with accrued Guaranteed Additions shall be payable. “Sum Assured on Death” is defined as higher of 'Basic Sum Assured' or '1.25 times of Tabular Single Premium'. “Tabular Single Premium” is the premium for the chosen Basic Sum Assured based on age of the life assured and Guaranteed Addition Period, before allowing for rebate or any underwriting extra and does not include any taxes and Rider Premium, if any. 4 Under Option II - Flexi Income Benefit, in addition to above any accumulated value of Flexi Income Benefit(s) due and not withdrawn shall also be payable. However, in case of minor Life Assured, whose age at entry is below 8 years, on death before the commencement of Risk (as specified in Para 2 above), the death benefit payable shall be return of Single Premium paid excluding taxes, any extra premium and rider premium(s), if any, without interest. B. Survival Benefit: Survival Benefit in the form of Regular Income Benefit or Flexi Income Benefit as per the Survival Benefit Option chosen shall be as under: i. Option I – Regular Income Benefit On survival of Life Assured, Regular Income Benefit equal to 10% of Basic Sum Assured shall be payable at the end of each policy year starting from the year as specified in Table-1 below. These Regular Income Benefi

On the life assured surviving to the end of the policy term, “Sum Assured on Maturity” along with accrued Guaranteed Additions shall be payable. Where “Sum Assured on Maturity” is defined as higher of Basic Sum Assured or 1.25 times of Tabular Single Premium. Under Option II - Flexi Income Benefit, in addition to above any accumulated value of Flexi Income Benefit(s) due and not withdrawn shall also be payable. D. Guaranteed Additions: The Guaranteed Additions shall accrue at the rate of ₹ 40 per thousand Basic Sum Assured at the end of each policy year during the Guaranteed Addition Period. Guaranteed Addition shall not accrue after the end of Guaranteed Addition Period. On death of Life Assured during the Guaranteed Addition Period, the Guaranteed Addition in the year of death shall be payable for full policy year. 6

Loan shall be available within the Surrender Value of the Policy subject to the following: (a) Loan can be availed at any time during the policy term at any time after three months from completion of the policy (i.e. 3 months from the Date of issuance of policy) or after expiry of the free-look period, whichever is later. (b) The maximum loan allowed as a percentage of Surrender Value shall be as under: (i) If loan is availed during Guaranteed Addition Period: Guaranteed Addition Percentage of Surrender Period value 7 years to 10 years 60% 11 years to 14 years 50% 15 years to 17 years 40% (ii) If loan is availed after Guaranteed Addition Period: Option I: The maximum amount of loan (where no previous loan is outstanding) for policies which are entitled for Regular Income 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 Regular Income Benefit payable under the policy subject to maximum of 75% of Surrender value. Option II: The maximum amount of loan (where no previous loan is outstanding) for policies which are entitled for Flexi Income 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 Flexi Income Benefit eligible under the policy subject to maximum of 75% of Surrender value. In addition, loan upto 50% of Fle