Komal Jeevan Summary: (Table No.159)
LIC Komal Jeevan is a children’s Money Back Plan that provides financial protection against death during the term of plan with periodic payments on survival at specified durations. Komal Jeevan can be purchased by any of the parent or grand parent or legal guardian for a child aged between 0 year to 10 years. The payment of the premium stops at the age of 18 years.

Who should buy Komal Jeevan?
In today’s competitive world, every parent dream for best education for their son/daughter. This policy is suitable for parents who dream to secure money for their children’s higher education.

Benefits:
The policy matures when the child grows up to be 26. Once the child attains majority, the survival benefit is paid in four installments.

1. 20% on policy anniversary after completing age 18.
2. 20% on policy anniversary after completing age 20.
3. 30% on policy anniversary after completing age 22.
4. 30% on policy anniversary after completing age 24.
5. Guaranteed addition + Loyalty Addition on completing age 26 (Maturity date)

Guaranteed additions :
The policy gives guaranteed additions at Rs 75 per Rs 1,000 sum assured on every policy anniversary till age 26.

Commencement of risk cover:
The risk commences only after the child attains age seven or two years after the commencement of the policy, whichever is later.

Premium Waiver Benefit:
Premium Waiver Benefit available with some extra premium amount.

Term Rider Benefit:
Term Rider Benefit can be availed by the proposer to the extent of 20% of the basic sum assured under the policy not exceeding Rs.1,00,000/-. The benefit will be payable in case the proposer dies before the policy anniversary on which the child is 18 years last birthday.

Death Benefits

• In case of death of life assured before the commencement of risk, the policy is canceled and premiums paid are refunded.
• After the commencement of risk, if the life assured dies before policy matures, full sum assured plus guaranteed additions are payable without deduction of earlier installment benefits paid.
• Special benefit in maturity: Loyalty additions depending on policy duration and sum assured are paid on maturity.

Premiums:
Premiums are payable yearly, half-yearly, quarterly, monthly or through Salary deductions, as opted by you, up to the policy anniversary immediately after the life assured (child) attains 18 years of age or till the earlier death of the life assured. Alternatively, the premium may be paid in lump sum (Single premium).

Medical Exam:
No Medical Examination is required for the child. However, proposer’s medical examination is compulsory.

Eligibility Conditions and Restrictions for LIC Komal Jeevan:
Min. age at entry: 0 year (Last Birthday)
Max. age at entry: 10 years (Last Birthday).
Min. S.A.: 1 lakh.
Max. SA.: 25 lakhs.
SA in multiples: Rs. 25,000
Max. Maturity age: 26 years (lbd).
Modes Allowed (Premium Payment): Yly/Hly/Qly/SSS/Sp
Min. PPT: 8 years. (Premium Paying term)
Max. PPT: 18 years.
Accident benefit: NA
Premium Rebate: Yly 2%; Hly 1%; Qly/SSS – Nil
Term Rider Option: Available
Critical Illness Rider: No
Policy Loan: No
Revival: Yes
Surrender of Policy: Yes
Survival Benefits: Yes
Housing Loan: No
P.W.B.: Yes

How to Apply for LIC Komal Jeevan?
Contact your nearest Life Insurance Corporation Of India (LIC of India) Branch/ LIC Agent. Or
Fill the Application form to apply online. (Mumbai only)

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Note:
The above is the product summary giving the key features of the plan. This is for illustrative purpose only. This does not represent a contract and for details please refer to your policy document.

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