BIMA NIVESH TRIPLE COVER Table No.

143
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The Life Insurance Corporation of India has always believed in providing value-added services and products. In tune wit changing economic scenario it offers multi-benefit schemes to fulfill the varied financial needs of the public. Its latest attractive returns and tax benefits.

offering ,Bima Nivesh Triple Cover is a short-term, single premium life insurance scheme that also provides safety, liqui

Features:

Single Premium for Sum Assured ranging from Rs.25,000/- to Rs.10,00,000/- ( in multiples of Rs.5,00 Premium Rates : Single premium per Rs.1000/- Sum Assured will be Rs.961/- for all ages at entry. High Premium Rebate : Provision for High Premium Rebate @ 1% on the premium in excess of Rs.25.000/- @ 1.5% in excess of Rs.50,000/- and @ 2% in excess of Rs.2,00,000/-. Minimum age at entry : 18 years Maximum age at entry : 50 years Maximum age at maturity : 60 years Term : 10 years only Contributions are eligible for tax exemption under Section 88 of the Income Tax Act. Medical examination will be required for all the proposals.

No loan is available under this scheme. However, the policy can be assigned to other financial institu as collateral security.

 The existing underwriting requirements and conditions will apply.

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Benefits :
1. On Maturity The Sum Assured along with the guaranteed additions and Loyalty addition, if any, will be paid on the of the stipulated term of 10 years. Compounded Guaranteed Addition :

There will be Guaranteed Additions at a compound rate of Rs.60/- per thousand sum Assured per ann accruing at the end of every policy year during the term of the policy. Loyalty addition :

Depending on LICs experience with regard to interest, mortality and expenses, Loyalty Addition may b paid on maturity. Special Surrender Value :

Under this plan, a Special Surrender Value will be paid after the policy has run at least for one year. If, however, the policy is surrendered

within 2 years of its commencement, as per the current Income Tax rules, Sec. 88, relief on contributio paid would not apply. Back-Dating : The policy can be dated-back within the same financial year on payment of interest at the rate of 11% annum. No waiver of interest for back-dating will be allowed. 2. On Death During The Term

Three times the Sum Assured will be payable on the death of the policyholder during the term of the p No Guaranteed Additions and Loyalty Additions are payable. Suicide clause:

This policy is void if the Life Assured commits suicide (whether sane or insane at the time) at any time

after the date on which the risk on the policy has commenced but before the expiry of one year from th

date of the policy and the Corporation will not entertain any claim by virtue of the policy except to the e given in writing to the Office in which the policy is being serviced, at least one calendar month prior to death. Sample Benefit Illustration :

of a third partys bonafide interest acquired in the policy for valuable consideration, of which notice has

On Death after end of Surrender at the end of Sum Assured (Rs) Single Premium (Rs) 3rd Year (Rs) 2,25,000 4,50,000 6th Year 3rd Year (Rs) (Rs) 6th Year (Rs) 96,814 1,93,628

Maturity value at the end of the Term (Rs) 1,34,314 2,68,627

75,000 1,50,000

71,494 1,42,488

2,25,000 75,927 4,50,000 1,51,855