LIC’s GOLDEN JUBILEE POLICY -BIMA GOLD (UIN:512N231V01)

BENEFITS :
Death Benefit: Payment of an amount equal to Sum Assured under the Basic Plan
immediately on death of the Life Assured during the term of the policy provided the
life cover is in force.

Survival Benefit: Payable in case of life assured surviving to the end of the
specified durations provided the policy is in full force as given below:

For policy term 12 years : 15% of the Sum Assured under Basic Plan at the end of
each 4th & 8th policy year
For policy term 16 years : 15% of the Sum Assured under Basic Plan at the end of
each 4th, 8th &12th policy year
For policy term 20 years : 10% of the Sum Assured under Basic Plan at the end of
each 4th, 8th, 12th & 16th policy year

Maturity Benefit : Payment of total amount of premiums (excluding extra/optional

rider premiums, if any) paid plus Loyalty Additions, if any, less the amount of
survival benefits paid earlier in case of Life Assured surviving to the end of the
term.

Auto-cover facility : If at least two full years’ premiums have been paid in respect
of this policy, any subsequent premium be not duly paid, full death cover shall
continue for a period of two years from the date of First Unpaid Premium(FUP).

PAYMENT OF PREMIUM: Regular Premium payable throughout the policy

term.

The sample premium rates for the basic plan are as under: -

Age Annual Premium per 1000 SA

12 16 20
15 65.70 56.90 41.75
20 66.50 57.45 42.25
25 67.00 58.00 42.85
30 68.05 59.05 44.00
35 70.85 61.55 46.45
40 76.05 65.90 50.40
45 84.25 72.40 56.15
50 96.10 81.60 64.25
55 110.65 93.10 74.45
60 128.50 - -

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GUARANTEED SURRENDER VALUE: The Guaranteed Surrender Value shall
be available after completion of at least three policy years and at least three full
years’ premiums have been paid. The Guaranteed Surrender Value is equal to 30
per cent of the total amount of premiums paid excluding the premiums for the first
policy year, all extra premiums paid, the premiums paid for Accident Benefit Rider
and the amount of survival benefits paid earlier.

PAID UP VALUE: If after at least three full years’ premiums have been paid in
respect of this policy, any subsequent premium be not duly paid, this policy shall
not be wholly void after the expiry of two years Auto Cover Period from the due
date of First Unpaid Premium, but shall subsist as a paid up policy for an amount
equal to the total premiums paid (excluding any extra/optional premium) less the
survival benefits paid earlier, if any. This amount shall be called as Paid Up Value.
This paid up value shall be payable on the date of maturity or at Life Assured’s
prior death. No survival benefit shall be payable under paid up policies. The policy
thereafter be free from all liabilities for payment of the within mentioned premiums.

The Accident Benefit Rider will cease to apply if the policy is in lapsed condition.
During the Auto Cover Period, the Accident Benefit Rider shall not be available.

OPTIONAL RIDER BENEFIT:

Accident Benefit rider shall be available as an optional benefit for a premium at the
rate of Rs.1 per thousand Accident Benefit Rider Sum Assured. Accident Benefit
Rider shall be available for an amount not exceeding the Sum Assured under the
basic plan subject to overall limit of Rs.50 lakh taking all existing policies of the
Life Assured under individual as well as group schemes including policies with in
built accident benefit taken with Life Insurance Corporation of India and other
insurance companies and the Accident Benefit Rider Sum Assured under the new
proposal into consideration.

ACCIDENTAL DEATH AND DISABILITY BENEFIT:

On death arising as a result of accident an additional amount equal to the Accident
Benefit Rider Sum Assured is payable. On total and permanent disability arising
due to accident (within 180 days from the date of accident) an amount equal to the
Accident Benefit Rider Sum Assured will be paid over a period of 10 years in
monthly instalments.

The disability due to accident should be total and such that the Life Assured is
unable to carry out any work to earn the living. Following disabilities due to
accidents are covered:
a) irrevocable loss of the entire sight of both eyes, or
b) amputation of both hands at or above the wrists, or
c) amputation of both feet at or above ankles, or
d) amputation of one hand at or above the wrist and one foot at or above the
ankle

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No benefit will be paid if accidental death or disability arises due to accident in case
of :
a) intentional self-injury, attempted suicide insanity or immorality or the Life
Assured is under the influence of intoxicating liquor, drug or narcotic
b) engagement in aviation or aeronautics other than that of a passenger in any
air craft
c) injuries resulting from riots, civil commotion, rebellion, war, invasion,
hunting, mountaineering, steeple chasing or racing of any kind
d) accident resulting from committing any breach of law
e) accident arising from employment in armed forces or military services or
police organisation.

OTHER BENEFITS :
The plan offers other benefits as follows :

Loan : Loan facility is available under this plan after the policy acquires paid-up
value. The rate of interest to be charged for loan amount would be determined from
time to time by the Corporation. Presently the rate of interest is 9% p.a. payable
half-yearly.

Grace Period : A grace period of one month but not less than 30 days will be
allowed for payment of yearly, half-yearly or quarterly premiums and 15 days for
monthly premiums.

15 –days Cooling-off period: If you are not satisfied with the “Terms and
Conditions” of the policy you may return the policy to us within 15 days.

Revival : Subject to production of satisfactory evidence of continued insurability, a

lapsed policy can be revived by paying arrears of premium together with interest
within a period of five years from the due date of first unpaid premium. The rate of
interest applicable will be as fixed by the Corporation from time to time.

ELIGIBILITY CONDITIONS AND OTHER RESTRICTIONS :

FOR BASIC PLAN:
Age at entry : 14 years (completed) to 63 years (nearest birthday)
Age at maturity : Maximum 75 years (nearest birthday)
Term : 12, 16 and 20 years.
Minimum Sum Assured : Rs. 40,000 /-
Maximum Sum assured : No limit
Sum Assured will be in multiples of Rs.5,000 /- only.
Mode : Yearly, Half-yearly, Quarterly, Monthly or through
salary deductions.

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REBATES / EXTRA FOR MODE OF PREMIUM PAYMENT AND HIGH
SUM ASSURED :

Mode Rebate / Extra:

Rebates are available at the following rates:
Yearly mode: 2% of tabular premium
Half-yearly mode: 1% of tabular premium
Quarterly and SSS modes: NIL
Monthly mode: 5% extra on tabular premium

High Sum Assured Rebates:

Less than Rs. 50,000 : NIL
Rs. 50,000 and Less than Rs.1 Lakh : Rs.2.5 per thousand Sum Assured
Rs. 1 Lakh and Less than Rs.2 Lakh : Rs.7.5 per thousand Sum Assured
Rs. 2 Lakh and above : Rs.10 per thousand Sum Assured

EXCLUSIONS :
This policy will be void if the Life Assured commits suicide at anytime on or after
the date on which the risk on the policy has commenced but before the expiry of
one year from the date of commencement of risk under the policy. In case of death
due to suicide during this period, the Corporation will not entertain any claim by
virtue of this policy except to the extent of a third party's bonafide beneficial
interest acquired in the policy for valuable consideration of which notice has been
given in writing to the office to which premiums under this policy were paid, at
least one calendar month prior to death.

BENEFIT ILLUSTRATION :

Statutory warning :
“Some benefits are guaranteed and some benefits are variable with returns based on the future
performance of your Insurer carrying on life insurance business. If your policy offers guaranteed
returns then these will be clearly marked “guaranteed” in the illustration table on this page. If
your policy offers variable returns then the illustrations on this page will show two different rates
of assumed future investment returns. These assumed rates of return are not guaranteed and they
are not the upper or lower limits of what you might get back, as the value of your policy is
dependent on a number of factors including future investment performance.”

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 Illustration 1:
Age at entry (Life Assured): 35 years
Policy Term: 12 years
Mode of premium payment: Yearly
Sum Assured: Rs.1,00,000/-
Annual Premium : Rs. 6193 /-
Total Benefit payable on death during the year
premium Guaranteed Variable Total
End of Year paid Scenario 1 Scenario 2 Scenario 1 Scenario 2
1 6193 100000 0 0 100000 100000
2 12386 100000 0 0 100000 100000
3 18579 100000 0 0 100000 100000
4 24772 100000 0 0 100000 100000
5 30965 100000 0 0 100000 100000
6 37158 100000 0 0 100000 100000
7 43351 100000 0 0 100000 100000
8 49544 100000 0 0 100000 100000
9 55737 100000 0 0 100000 100000
10 61930 100000 0 0 100000 100000
11 68123 100000 0 0 100000 100000
12 74316 100000 0 0 100000 100000

Survival Benefits :

Benefit payable on survival at the end of specified year

Total
End of premium Variable Total
Year paid Guaranteed Scenario 1 Scenario 2 Scenario 1 Scenario 2
4 24772 15000 0 0 15000 15000
8 49544 15000 0 0 15000 15000
12 74316 44316 1700 8400 46016 52716

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 Illustration 2:
Age at entry (Life Assured): 35 years
Policy Term: 16 years
Mode of premium payment: Yearly
Sum Assured: Rs.1,00,000/-
Annual Premium : Rs. 5282 /-
Total Benefit payable on death during the year
premium Guaranteed Variable Total
End of Year paid Scenario 1 Scenario 2 Scenario 1 Scenario 2
1 5282 100000 0 0 100000 100000
2 10564 100000 0 0 100000 100000
3 15846 100000 0 0 100000 100000
4 21128 100000 0 0 100000 100000
5 26410 100000 0 0 100000 100000
6 31692 100000 0 0 100000 100000
7 36974 100000 0 0 100000 100000
8 42256 100000 0 0 100000 100000
9 47538 100000 0 0 100000 100000
10 52820 100000 0 0 100000 100000
11 58102 100000 0 0 100000 100000
12 63384 100000 0 0 100000 100000
13 68666 100000 0 0 100000 100000
14 73948 100000 0 0 100000 100000
15 79230 100000 0 0 100000 100000
16 84512 100000 0 0 100000 100000

Survival Benefits :

Benefit payable on survival at the end of specified year

Total
End of premium Variable Total
Year paid Guaranteed Scenario 1 Scenario 2 Scenario 1 Scenario 2
4 21128 15000 0 0 15000 15000
8 42256 15000 0 0 15000 15000
12 63384 15000 0 0 15000 15000
16 84512 39512 1900 11200 41412 50712

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 Illustration 3:
Age at entry (Life Assured): 35 years
Policy Term: 20 years
Mode of premium payment: Yearly
Sum Assured: Rs.1,00,000/-
Annual Premium : Rs. 3802 /-
Total Benefit payable on death during the year
premium Guaranteed Variable Total
End of Year paid Scenario 1 Scenario 2 Scenario 1 Scenario 2
1 3802 100000 0 0 100000 100000
2 7604 100000 0 0 100000 100000
3 11406 100000 0 0 100000 100000
4 15208 100000 0 0 100000 100000
5 19010 100000 0 0 100000 100000
6 22812 100000 0 0 100000 100000
7 26614 100000 0 0 100000 100000
8 30416 100000 0 0 100000 100000
9 34218 100000 0 0 100000 100000
10 38020 100000 0 0 100000 100000
11 41822 100000 0 0 100000 100000
12 45624 100000 0 0 100000 100000
13 49426 100000 0 0 100000 100000
14 53228 100000 0 0 100000 100000
15 57030 100000 0 0 100000 100000
16 60832 100000 0 0 100000 100000
17 64634 100000 0 0 100000 100000
18 68436 100000 0 0 100000 100000
19 72238 100000 0 0 100000 100000
20 76040 100000 0 0 100000 100000

Survival Benefits :

Benefit payable on survival at the end of specified year

Total
End of premium Variable Total
Year paid Guaranteed Scenario 1 Scenario 2 Scenario 1 Scenario 2
4 15208 10000 0 0 10000 10000
8 30416 10000 0 0 10000 10000
12 45624 10000 0 0 10000 10000
16 60832 10000 0 0 10000 10000
20 76040 36040 1900 13700 37940 49740

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Notes :
i) This illustration is applicable to a non-smoker male/female standard (from medical, life style
and occupation point of view) life.

ii) The non-guaranteed benefits (1) and (2) in above illustration are calculated so that they are
consistent with the Projected Investment Rate of Return assumption of 6% p.a.(Scenario 1) and
10% p.a. (Scenario 2) respectively. In other words, in preparing this benefit illustration, it is
assumed that the Projected Investment Rate of Return that LICI will be able to earn throughout
the term of the policy will be 6% p.a. or 10% p.a., as the case may be. The Projected Investment
Rate of Return is not guaranteed.

iii) The main objective of the illustration is that the client is able to appreciate the features of the
product and the flow of benefits in different circumstances with some level of quantification.

The Maturity Benefit is the amount shown at the end of the policy term

EXTRACT from Section 41 of the Insurance Act :

(1) No person shall allow or offer to allow, either directly or indirectly, as an

inducement to any person to take out or renew or continue an insurance in respect
of any kind of risk relating to lives or property in India, any rebate of the whole or
part of the commission payable or any rebate of the premium shown on the policy
nor shall any person taking out or renewing or continuing a policy accept any rebate
except such rebates as may be allowed in accordance with the published
prospectuses or tables of the insurer : provided that acceptance by an insurance
agent of commission in connection with a policy of life insurance taking out by
himself on his own life shall not be deemed to be acceptance the insurance agent
satisfies the prescribed conditions establishing that he is a bona fide insurance agent
employed by the insurer.

(2) Any person making default in complying with the provisions of this Section
shall be punishable with a fine which may extend to Rs.500 / -

Note : “Conditions apply” for which please refer to the Policy document or contact
our nearest Branch Office.

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