LIC's Saral Jeevan Bima

i) During the Waiting Period of 45 days from the date of commencement of Risk: This Policy will cover death due to accident only during the waiting period of 45 days from the date of commencement of risk. In case of death of the Life Assured other than due to accident during the waiting period, an amount equal to 100% of all premiums received excluding taxes, if any, shall be paid and the Basic Sum Assured shall not be paid. In case of death of the Life Assured due to accident 2 during the Waiting Period and provided the Policy is in force, the Death Benefit amount payable as a lump sum is: (1) For regular premium or limited premium payment policy, equal to Sum Assured on Death which is the highest of: (a) 10 times the Annualized Premium, or (b) 105% of all premiums paid as on the date of death, or (c) Absolute amount assured to be paid on death. (2) For single premium policy, equal to Sum Assured on Death which is the higher of: (a) 125% of Single premium or (b) Absolute amount assured to be paid on death. ii) After the expiry of Waiting Period of 45 days from the date of commencement of Risk: On death of the Life Assured after the expiry of Waiting Period but before the stipulated Date of Maturity and provided the Policy is in force, the Death Benefit amount payable as a lump sum is: (1) For Regular premium or Limited premium payment policy, “Sum Assured on Death” which is th

No Maturity Benefit shall be payable on the Life Assured surviving the stipulated Date of Maturity.

Surrender value is not applicable under this Plan.

No loan will be available under this policy.

A grace period of 30 days shall be allowed for payment of yearly or half-yearly premiums and 15 days for monthly premiums from the date of First Unpaid Premium. During this period, the policy shall be considered in-force with the risk cover without any interruption as per the terms of the policy. If the premium is not paid before the expiry of the days of grace, the Policy lapses. 4

If the Policyholder is not satisfied with the “Terms and Conditions” of the policy, the policy may be returned to Corporation within 30 days from the date of receipt of the electronic or physical mode of the Policy Document, whichever is earlier, stating the reasons 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 the period of cover and expenses incurred on medical examination and stamp duty charges, within 15 days of receipt of the request.

a) Under Regular/Limited Premium Policy: This policy shall be void if the Life Assured commits suicide at any time within 12 months from the date of commencement of risk, provided the policy is inforce or within 12 months from the date of revival and the Corporation will not entertain any claim except for 80% of the total premiums paid (excluding any extra amount if charged under the policy due to underwriting decisions and taxes, if any) till the date of death. This clause shall not be applicable for a lapsed policy as nothing is payable under such policies. b) Under single Premium Policy: This policy shall be void if the Life assured commits suicide at any time within 12 months from the date of commencement of risk and the Corporation will not entertain any claim except 90% of the Single Premium 9 paid excluding any extra amount if charged under the policy due to underwriting decisions and taxes, if any.