LIC's Single Premium Endowment Plan

Death benefit payable on death of the life assured during the policy term after the date of commencement of risk but before the date of maturity, 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: • For age at entry of Life Assured less than 50 years: Higher of Basic Sum Assured or 1.25 times of Single premium. • For age at entry of Life Assured 50 years and above: Higher of Basic Sum Assured or 1.10 times of Single premium Single Premium referred above excludes taxes, extra premium and rider premium(s), if any. 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 1 above), the Death Benefit payable shall be refund of Single premium paid (excluding taxes, extra premium and rider premiums if any), without interest. B. Maturity Benefit: On Life Assured surviving the policy term, “Sum Assured on Maturity” along with vested Simple Reversionary Bonuses and Final Additional Bonus if any, shall be payable. 3 Where “Sum Assured on Maturity” is equal to Basic Sum Assured. C. Participation in Profits: The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation. Simple Reversionary Bonuses

On Life Assured surviving the policy term, “Sum Assured on Maturity” along with vested Simple Reversionary Bonuses and Final Additional Bonus if any, shall be payable. 3 Where “Sum Assured on Maturity” is equal to Basic Sum Assured. C. Participation in Profits: The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation. Simple Reversionary Bonuses shall be declared annually at the end of each financial year. Once declared, they form part of the guaranteed benefits of the plan on such terms and conditions as declared by the Corporation. In the event of policy being surrendered, the surrender value of vested bonuses, if any, as applicable on the date of surrender shall be payable. 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 at such rates and on such terms as may be declared by the Corporation. The actual allocation to policyholders,out of the surplus emerging from the actuarial investigation, shall be in accordance with the provisions in this regard under LIC Act, 1956.

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 Single Premium paid (excluding any taxes, extra premium and rider premiums other than term assurance rider premium, if any) or Surrender Value available as on date of death, whichever is higher. The Nominee or Beneficiary of the Life Assured shall not be entitled any other claim under the policy. Suicide clause shall not apply in case of Life Assured whose age at the time of entry is below 8 years. 11