Home » Products » Withdrawn Plans » Jeevan Bharti-1
Jeevan Bharti

Features

Introduction
LIC’s Jeevan Bharati-I – is a plan exclusively for women. It is a with profit plan having special features considering the needs of women. The plan also provides for Accident Benefit, Critical Illness Benefit and Congenital Disability Benefit as optional Riders

1. SPECIAL FEATURES

1. Encashment of Survival Benefit as and when needed:
The policyholder at her option may avail the survival benefit any time on or after its due date.  If opted to avail later, increased survival benefit at the rate decided by the corporation from time to time will be payable. 

2. Flexibility to pay premiums in advance:
The mode of premium payment is only yearly under this plan. However, policyholder may pay the next yearly premium in advance in instalments (maximum upto 3 instalments) during the year. If premiums are paid in advance a premium rebate may be allowed as may be decided by the Corporation from time to time 

3. Option to receive maturity proceeds in the form of an annuity: :
The policyholder shall have the option to receive the maturity proceeds in the form of annuity. The rate of annuity will be based on the annuity rates prevalent at the time of stipulated Date of Maturity.

4. Auto Cover::
After two years premiums have been paid, whenever premium payment is discontinued, the life cover for full sum assured will continue for 3 years from the due date of first unpaid premium. 

If death occurs during the Auto Cover period, then death benefit after deducting unpaid premiums, with interest is payable along with the vested bonus, if any.
The auto cover shall not be available for rider benefits.

2. OPTIONAL RIDERS:

The following riders are available under this plan:

A. CRITICAL ILLNESS (CI) RIDER :
An amount equal to the Critical Illness Rider Sum Assured will be payable in case of diagnosis of defined categories of critical illnesses. A person is eligible for this benefit upto a maximum age of 60 years but subject to a maximum of the policy term. This benefit can be availed for a minimum Sum of Rs 50000 and for a maximum Sum equal to the Sum assured under the basic plan subject to the maximum of Rs 5 lakh overall limit taking all critical illness riders under all existing policies of the Life Assured.
(For details refer the sales brochure of Critical Illness rider)

B. ACCIDENT BENEFIT RIDER:
An additional amount equal to the Accident Benefit Rider Sum Assured is payable upon death or total and permanent disability due to accident during the policy term.
This benefit can be availed for a minimum sum of Rs 50000 and for a maximum sum  equal to the Sum Assured under the Basic Plan subject to the maximum of Rs.50 lakhs. 

C. CONGENITAL DISABILITIES BENEFIT (CDB) RIDER:
This rider can be opted for by a female between the ages of 18yrs and 35 years.
An amount  equal to 50% of the CDB Sum Assured is payable if the Life Assured gives birth to a child  with specified congenital disabilities. This benefit is available for a maximum of two such children and this benefit ceases at the age of 40 years.
This benefit can be availed for a minimum Sum of Rs 50000 and a maximum sum of Rs 500000.
(For details refer the sales brochure of Congenital Disability Benefit Rider)

3. ELIGIBILITY CONDITIONS (For Basic Plan):
 
Minimum age at entry
: 18 years (completed)
Maximum age at entry
: 55 years (nearest birthday)
Maximum age at maturity
: 70 years  (nearest birthday)
Policy term
: 15 and 20 years
Minimum Sum Assured
: Rs. 50,000/-
Maximum Sum Assured
: Rs. 25,00,000/-         
(Sum Assured shall be in multiples of Rs.5,000/-)
4. SAMPLE PREMIUM RATES FOR BASIC PLAN :
 
Tabular Annual Premium per 1000 SA
AGE/TERM 15 20
20 79.35 63.90
25 79.45 64.10
30 79.70 64.55
35 80.25 65.45
36 80.45 65.70
37 80.60 66.00
40 81.35 67.00
45 83.15 69.50
50 86.05 73.50

5. HIGH SUM ASSURED REBATES:

Sum Assured (in Rs)
Rebate per thousand Sum Assured
1,00,000 to 4, 99,999
Rs 2.00
5, 00,000 and above
Rs 4.00
6. LOAN:

Loan is available under the plan after the policy acquires paid-up value.

7. GRACE PERIOD:

A grace period of one-month but not less than 30 days will be allowed for payment of premium .

8. REVIVAL:

A. REVIVAL DURING THE AUTO COVER PERIOD:
(i) If Critical Illness Rider is not opted for:
During the Auto Cover Period, the Life Assured can pay one or more instalments of premiums with interest without submission of any evidence of health. On payment of part or full arrears of premiums with interest, the Auto Cover Period of 3 years from the due date of new FUP shall again be available during the term of the Policy. 

If any survival benefit falls due during the above 3-year auto cover period the same will be paid after deduction of unpaid premiums with interest until the due date of the survival benefit, provided it is more than the unpaid premiums with interest. If the survival benefit is insufficient to cover the arrears of premiums with interest up to the due date of such survival benefit, then the survival benefit will be payable only on payment of such arrears of premiums with interest , during the period of the aforesaid 3 years or on revival of the policy thereafter.
(ii) If Critical Illness Rider is opted for:
During the auto cover period, the policy can be revived by payment of full arrears of premium together with interest and subject to submission of proof of continued insurability of the Life Assured to the satisfaction of the Corporation. The Corporation reserves the right to accept at original terms, accept at revised terms or decline the revival of the policy. The revival of the policy shall take effect only after the same is approved by the Corporation and is specifically communicated to the Life Assured.
If any survival benefit fal