Jeevan Shiromani – Money Back Plan

Jeevan Shiromani – Money Back Plan

LIC Jeevan Shiromani Plan No.847 is the Money Back Plan. It is Non linked, Limited premium payment with guaranteed additions plan. Shiromany is specifically designed for High Net-worth customers with minimum Sum assured of Rs.1 Crore. The insurance cover starts immediately upon issuance of the policy.

Jeevan Shiromani Features:

  • It is money back plan
  • Minimum Sum Assured 1 Crore
  • It also covers 15 Critical Illness
  • Limited premium payment
  • Policy term can be 14, 16, 18 or 20 years.
  • Premium paying term will be 4 years lesser than the selected term.

lic jeeva shiromani
Eligibility Conditions and Restrictions:

  • Minimum entry age: 18 years
  • Maximum entry age: 55 years
  • Minimum basic sum assured (BSA) : 1 crore
  • Maximum basic sum assured (BSA) : No Limit

Policy term and premium paying term :

  1. For a 14 year Policy : PPT is 10 years
  2. For a 16 year Policy : PPT is 12 years
  3. For a 18 year Policy : PPT is 14 years
  4. For a 20 year Policy : PPT is 16 years

Guaranteed Additions under Jeevan Shiromani:

  • Guaranteed Addition for first 5 policy years is Rs 50 per Rs 1,000
  • From 6th Year onwards, Guaranteed Addition will be Rs. 55 per Rs 1,000.

Critical Illness Benefit (InBuilt) :

Jeevan Shiromani plan has an inbuilt 15 Critical illness benefit rider.

  • 10% Basic Sum Assured will be Payable on Diagnosis of Critical Illness.
  • Premiums will be Deferred for 2 years.
  • Settlement option for death benefit and survival benefit also available.
  • The policyholder can receive the settlement amount, like death, survival benefit or maturity benefit, in installments over the chosen periods of time like 5 years, 10 years or 15 years. Alternately policyholder can also get one-time lump sum payment if he/she don’t want installment feature.

LIC Jeevan Shiromani Plan Benefit

Survival Benefit:

If the policy holder survives till the end of the policy period. Policyholder will get the following benefit depending on opted policy term.

  • 14 year Policy : 30% of Sum-assured is payable on 10th & 12th policy year. Rest 40% on 14th year.
  • 16 year policy : 35% of Sum Assured on 12th & 14th year. Rest 30% on 16th Year.
  • 18 year policy : 40% of Sum Assured on 14th & 16th year. Rest 20% on 18th Year.
  • 20 year policy : 45% of SA on 16th & 18th year. Rest 10% on 20th year.

Maturity Benefit:

If the policy holder survives till the maturity of the policy, policy holder will get the survival benefit mentioned above and he/she will also get Guaranteed Addition (GA) and Loyalty Addition (LA) on top of the Basic Sum Assured.

Death Benefit:

  • If the policyholder dies within 5 years : Sum assured (SA) + Guaranteed Addition (GA) is payable to the nominee.
  • If the policyholder dies after 5 years : Sum assured (SA) + Guaranteed Addition (GA) + Loyalty Addition (LA) is payable to the nominee.

“Sum Assured on Death” is defined as HIGHER of the below.

  • 10 times of your annual premium (excluding taxes, the extra amount due to underwriter decisions or rider premium).
  • 125% of Basic Sum Assured.
  • 105% of all the premiums paid as on date of death.

jeevan shiromani benefits

Jeevan Shiromany Ready Reckoner Premium Calculator:

Jeevan Shiromani premium

Jeevan Shagun Plan No. 826 : Single Premium Money Back Plan

Jeevan Shagun Plan No. 826 : Single Premium Money Back Plan

LIC Jeevan Shagun Single Premium, Money Back Plan (Table No. 826) It’s a close ended plan, Available for 90 days from 1st November 2014.

Features:

  • Single Premium
  • Money Back Plan
  • 10 times sum assured
  • Loan & Surrender available from 2nd year onward
  • 12 Year Term
  • Surrender any time.

Death Benefit:

If policy holder dies within 5 years, Basic sum assured i.e 10 times of your single premium would be payable to nominee.

In case, policy holder dies after 5 years, Basic sum assured would be paid to nominee ie. 10x of your single premium plus loyalty addition, if any.

Survival Benefit:

If Policy holder survives till the end of the specific policy year, following benefits will be payable.

  • At the End of 10th Policy year: 15% Of the Maturity Sum Assured (MSA)
  • At the end of 11th policy year: 20% of the Maturity Sum Assured
  • At the end of 12th Year (On Maturity) remaining 65% of Maturity Sum Assured along with Loyalty addition (if any)  will be paid to policy holder.

Eligibility condition and other restriction for Jeevan Shagun:

  • Minimum Entry Age: 8 Years (Completed)
  • Maximum Entry Age: 45 Years ( Nearest Birthday)
  • Policy Term: 12 years
  • Sum Assured: 10 times of Tabular Premium
  • Minimum Maturity SA: Rs.60,000/-
  • Maximum Maturity SA: No Limit
  • Premium Paying Mode: One time Premium
    (Sum Assured will be in multiples of Rs.5000/-)

LIC Jeevan Shagun
High Sum Assured Rebate:
Sum Assured (SA)                      Rebate (Rs.)
Below Rs.1,50,000/-                Nil
Rs.1,50,00 – 3,95,000/-         Rs.15 per 1000 on MSA
4 lacs and above                        Rs.20 per 1000 on MSA

Loan Facility:
Policy holder can avail loan after completing one policy year.

  • 1st Year = No Loan
  • 2nd to 3rd year: 50% of Surrender Value.
  • 4th to 6th year: 60% of Surrender Value.
  • 7th to 9th year: 70% of Surrender Value.
  • 10th to 12 year: 90% of Surrender Value.

How much will you get if you surrender your policy?

If you want to surrender your policy, you are eligible for Minimum Guarantee Surrender value as follows:

  • First year: 70% of single premium excluding extra premium and taxes, if any.
  • 2nd year onward: 90% of single premium excluding extra premium and taxes, survival benefit paid if paid earlier.

LIC may pay higher surrender value calculated at the time of surrendering the policy. If policy is being surrender after completing 5 policy year, LIC shall also pay Loyalty addition, if any, based on surrender value.

Read More: How To Check Current Value of your ULIP Policy?

Cooling Off Period:
If you don’t like the policy you have 15 days to cancel your policy.

Lic Jeevan Shagun Policy Premium Calculator
Age 8 Yrs MSA Rs.1 lac= Rs.50,880.
Age 20 Yrs MSA Rs.1 lac= 52,390.
Age 25 Yrs MSA Rs.1 lac= Rs.52,803.
Age 30 Yrs MSA Rs.1 lac= Rs.53,736.
Age 35 Yrs MSA Rs.1 lac= Rs.56,019.
Age 40 Yrs MSA Rs.1 lac= Rs.61,380.
Age 45 Yrs MSA Rs.1 lac= Rs.74,106

LIC Jeevan Shagun Premium Calculator

Benefit illustration:
Age: 30
SA: 1 lac
Single Premium: Rs.53,736 (52,125+ 1611 Tax)
Approx. Maturity return:
Risk cover: Rs.5,21,250 (10 times of premium paid)
End of 10 year 15% MSA: 15,000/-
End of 11 year 20% MSA: 20,000/-
Loyalty addition: 5000/- approx.
12th year Maturity: 70,000 (SA + IB+ final Bonus) approx.

______________________________________________________

Update: Jeevan Shagun Plan No. 826 Has Been Discontinued.
_________________________________________________

 

Jeevan Surabhi

Jeevan Surabhi

Summary:
LIC Jeevan Surabhi is a money back plan. Jeevan Surabhi plan is similar to other LIC money back plans. However main differences in regular moneyback plans and Jeevan Surabhi are as Maturity term is more than premium paying term. Early and higher rate of survival benefit payment. A life insurance cover is available throughout the term of the plan. Risk cover increases every five years.

Jeevan surbhi is a with-profits plan available in 3 different terms of 15 yrs, 20 yrs and 25 years.

LIC Jeevan Surabhi policy is divided into 3 tables depending on the term (Years):

Jeevan Surabhi Plan No.106, 107 and 108

Plan Name Table No. /Plan No. Term (Policy duration)
Jeevan Surabhi Table No. 106 15 years
Jeevan Surabhi Table No. 107 20 years
Jeevan Surabhi Table No. 108 25 years
  • Accident Insurance:
    Accident Benefit is available
  • Benefits:
    Death Benefits:
    1. Accrued bonus is paid if the policy holder dies before maturity.
    2.  Sum Assured risk cover increases by 50%, Once in every 5 years.
    3. Already paid survival benefit to policy holder will not be deducted from the death claim amount.
    4. If insurance is financed by parent’s income up to SA of 10 lakhs then this plan is allowed to minor females.
    5.  Life Risk cover increases without undergoing special medical report or medical exam. You also don’t need to pay extra premium.
    6.   Accident benefit is provided only on basic SA during premium paying term.

Survival Benefits:
Survival benefit for Rs. 1 Lakh basic  SA .

 
Policy Term PPT 4th yr 8th yr 12th yr 15th yr 18 yr
15 yrs 12 yrs Rs.30,000 Rs.30,000 Rs.40,000
20 yrs 15 yrs Rs.25,000 Rs.25,000 Rs.25,000 Rs.25,000
25 yrs 18 yrs Rs.20,000 Rs.20,000 Rs.20,000 Rs.20,000 Rs.20,000

Money Back :
Full sum assured is paid back (Money Back) as survival benefit by the end of premium paying term. However, the risk cover (Insurance) and additional risk cover continues and your policy participates in profits till the end of policy term.  Jeevan Surabhi plan is suitable for professionals and Businessmen as they need money periodically.

Income-Tax exemption:

  1. Premium paid under section 80C of the Income Tax Act within the overall cap of Rs 1 Lakh per annum allowed for tax savings.
  2. On the claims received either by way of survival benefits or Maturity claims, whatever be the bonus accrued is also non-taxable.

Premiums :
You can pay Jeevan Surabhi Premiums yearly, half-yearly, quarterly, monthly or through salary deductions.

Jeevan Surabhi Eligibility Conditions and Restrictions:

Min. age at entry: 14 years. (last birthday)
Max. age at entry:

  • 55 yrs for plan 106
  • 50 yrs for plan 107
  • 45 yrs for plan 108

Min. Sum Assured.: Rs.50,000/-
Max. SA.: No Limit
SA in multiples: Rs. 5000
Max. Maturity age: 70 years.
Min Term: 15 yrs
Max Term: 25 years.
Modes Allowed: All
Policy Loan: Available
Accident benefit per 1000 SA: Re. 1 extra.
Form Number: 300/340
This plan is not allowed for pregnant ladies and when occupation Extra is chargeable.

Example:
Let’s assume Mr. Dilip takes Jeevan Surabhi policy for 25 years for Rs. 1 lakh with Premium Paying Term (PPT) 18 years. After 4 years, he will receive Rs 20,000 and again in the 8th year Rs 20,000. If Mr. Dilip expires during the 10th year of the policy then his nominee will receive Rs. 2,00,000 (Rs.1,50,000 as claim and Rs.50,000 as bonus at an estimated Rs. 50 per thousand p.a. for 10 years).

How to Apply for Jeevan Surabhi Policy?


Update:  Jeevan Surabhi Plan No.106, 107 and 108 Has Been Discontinued.


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.

LIC’s Jeevan Bharati-1

Special Money Back Plan for Women

LIC Jeevan Bharati 1 Table No.  192

Summary:

LIC’s Jeevan Bharati –I Plan no.192 has been designed exclusively for females. This is a money back plan having optional Accident Benefit, Critical Illness Benefit and Congenital Disability Benefit as Riders.

Benefits:

a) Death Benefit:
An amount equal to the Sum Assured under the basic plan along with Reversionary Bonuses, and Final Addition Bonus, if any, will be payable.

b) Survival Benefits:
Survival benefits will be payable as given below:

% Of SA under the Basic plan
Survival to end of 15-year plan 20-year plan
5 yrs 20% 20%
10 yrs 20% 20%
15 yrs
20%

c) Maturity Benefit:

For policy term of 15 years: 60% of the Sum Assured under the basic plan along with vested Reversionary Bonuses and Final Additional Bonus, if any, will be payable.

For policy term of 20 years: 40% of the Sum Assured under the basic plan along with vested Reversionary Bonuses and Final Additional Bonus, if any, will be payable.

Optional Benefits:

a) Critical Illness Benefit Rider :
An amount equal to the Critical Illness Rider Sum Assured will be payable in case of diagnosis of defined categories of Critical Illness subject to certain terms and conditions, provided the Critical Illness Benefit cover is opted for and is in force. The maximum cover for this rider will be Rs.5 lakh under all policies of the Life Assured with the Corporation taken together including the new proposal under consideration. The Critical Illness Rider Sum Assured shall also not exceed the Sum Assured under the Basic Plan.

b) Accident Benefit Rider :
Accident Benefit as optional rider will be available under the plan for an amount equal to the Accident Benefit Rider Sum Assured subject to the maximum of Rs.50 lakh overall limit considering the Accident Benefit Sum Assured in respect of all existing policies on the life of the Life Assured under individual and group policies including the policies taken from Life Insurance Corporation of India and other Insurance companies and the Accident Benefit Rider Sum Assured under new proposal into consideration.

c) Congenital Disability Benefit Rider : An Amount equal to 50% of the Congenital Disability Benefit Rider Sum Assured will be payable if the Life Assured gives birth to a child with specified congenital disabilities. This benefit is payable for a maximum of 2 such congenitally disabled children.

Rs.5 lakh is the maximum limit taking all Congenital Disability Benefit Riders under all policies of the life assured including the new proposal into consideration.

Special Features:

i. Encashment of survival benefits as and when needed:
A policyholder can take the survival benefits on or after the due dates, but before the date of maturity. In case of deferment of a due survival benefit, the Corporation will pay increased survival benefit and the increment will be at such rate as decided by the Corporation from time to time compounding yearly for complete number of months, a fraction of a month being ignored. This option shall be required to be exercised six months before the due date of the Survival Benefit. To start with, the rate of increment will be 4% p.a. compounding yearly for complete number of months, ignoring fraction of a month.

ii. Flexibility to pay premiums in advance:
A policyholder will have the flexibility to pay the next yearly premium in advance (in maximum three installments). The policyholder will be eligible for a premium rebate at such rate as may be decided by the Corporation from time to time. The premium mentioned above will also include premiums for Critical Illness Rider, Congenital Disability Benefit Rider and Accident Benefit Rider, if opted for. She will be eligible for a premium rebate of 5% p.a. for complete number of months on the portion of premium paid.

iii. Option to receive maturity benefits in the form of an annuity:
The policyholder will have the option (to be exercised 6 months before the date of maturity) to receive the maturity proceeds (including bonuses) in the form of an annuity. The immediate annuity rates prevalent at the time of maturity will be applicable.

iv. Auto cover :
Provided at least two years’ premiums have been paid under a policy, full death cover will be admissible for a period of three years from the date of first unpaid premium. If death of Life Assured occurs during the Auto Cover period, then death benefit after deducting unpaid premiums, with interest will be payable along with the vested bonuses and Final Additional Bonus, if any. However, claims under the Critical Illness Rider, Congenital Disability Benefit Rider and Accident benefit will not be admissible during Auto Cover period. Further,

(a) If Critical Illness Rider is not opted for:
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 thereon until the due date of the survival benefit, provided it is more than the unpaid premiums with interest thereon. If the survival benefit is insufficient to cover the arrears of premiums with interest thereon 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 thereon, during the period of the aforesaid 3 years or on revival of the policy thereafter.

(b) If Critical Illness Rider is opted for:
If any survival benefit falls due during the above 3-year auto cover period the same will be paid only on revival of the policy.

Loans:
Loan facility will be available under this plan after the policy acquires paid up value. The rate of interest charged for this loan amount would be determined from time to time by the LIC Of India.

Eligibility Conditions and Restrictions Basic Plan

a) Minimum Sum Assured : Rs.50,000/-
b) Maximum Sum Assured : Rs 25,00,000/-
c) Minimum age at entry : 18 years completed.
d) Maximum age at entry : 55 years nearest birthday
e) Maximum age at maturity : 70 years nearest birthday
f) Policy Term : 15 & 20 years

The Sum Assured shall be in multiples of Rs. 5,000.

Accident Benefit Rider:
a) Minimum Sum Assured : Rs. 50,000
b) Maximum Sum Assured: An amount equal to the Sum Assured under the Basic Plan subject to the maximum of Rs.50 lakh overall limit considering the Accident Benefit Sum Assured in respect of all existing policies on the life of the Life Assured under individual and group policies including the policies taken from Life Insurance Corporation of India and other Insurance companies and the Accident Benefit Rider Sum Assured under new proposal into consideration.

The Sum Assured shall be in multiples of Rs. 5,000.
c) Minimum Entry Age : 18 years completed
d) Maximum Entry Age : 55 years nearest Birthday
e) Policy Term : 15 & 20 years
f) Maximum Maturity Age : 70 years nearest Birthday.

Critical Illness Rider:
a) Minimum Sum Assured : Rs. 50,000
b) Maximum Sum Assured: An amount equal to Critical Illness Rider Sum Assured subject to the maximum of Rs.5 lakh overall limit taking all critical illness riders under all existing policies of the life assured and the critical illness rider option under the new proposal into consideration.

The Sum Assured shall be in multiples of Rs.10,000/-.
c) Minimum Entry Age : 18 years completed
d) Maximum Entry Age : 50 years nearest Birthday
e) Policy Term : Same as basic plan or till age 60 years nearest birthday whichever is earlier. If PWB is opted for, then the term of the rider should be same as that of the term of the basic plan.
f) Maximum Maturity Age : 60 years nearest Birthday. If PWB (under the Critical Illness Rider) is opted for, then the following conditions apply:
(i) The term of all the riders opted for must be same as that of the basic plan.
(ii) The Sum Assured of all the riders opted for must be same as that of the basic plan.

Congenital Disability Benefit Rider:
a) Minimum Sum Assured : Rs.50,000
b) Maximum Sum Assured : Rs 500,000
Rs.5 lakh is the maximum limit taking all Congenital Disability Benefit Rider under all policies of the life assured including the new proposal into consideration.
c) Minimum Entry Age : 18 years completed
d) Maximum Entry Age : 35 years nearest birthday
e) Maximum Benefit Ceasing Age : 40 years nearest birthday
f) Terms allowed : Same as the basic plan or till age 40 years (nearest birthday, whichever is earlier.)
Sum Assured will be in multiples of Rs 5000 only.

Mode of Premium Payment :
Only Yearly mode of Premium Payment is allowed under Jeevan Bharati 1 plan.

Cooling off period:
If you are not satisfied with the “Terms and Conditions” of the policy, you may return the policy to Life Insurance Corporation Of India within 15 days.

The Unique Identification Number (UIN) for LIC’s Jeevan Bharati – I plan is 512N247V01.

How to Apply for LIC Of India’s Jeevan Bharati 1?
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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Jeevan Varsha – Unique Money Back Plan

Jeevan Varsha – Unique Money Back Plan

LIC Jeevan Varsha Summary:

Jeevan Varsha (Plan No. 196) is a money back plan with Guaranteed Additions and Loyalty Additions, if any.
Jeevan Varsha is a close ended plan and it would be open for sale from 16th February, 2009 to 31st March, 2009.

1. Features:

  • Short-Term Money-Back for for 9 Years or 12 years.
  • Policy Term for 9 Years or 12 Years
  • Assured Money-Back every 3 years (Survival Benefit)
  • Guaranteed Returns – Rs.65 per Thousand for 9 Years and Rs.70 per Thousand for 12 Years
  • Complete Risk Coverage throughout the Tenure
  • Profit-Sharing through Loyalty Additions.

LIC Jeevan Varsha

2. Benefits:

A) Death Benefit:
On death during the policy term excluding last policy year:  Sum Assured with accrued Guaranteed Additions.
On death during last policy year:  Sum Assured with accrued Guaranteed Additions along with Loyalty Addition, if any.

B) Survival Benefits in Jeevan Varsha:

Survival benefits will be payable as given below:

Survival at end of 9-year plan 12-year plan
3rd year 15% of Sum Assured
10% of Sum Assured
6th year 25% of Sum Assured 20% of Sum Assured
9th year 60% of S.A +G.A + L.A 30% of Sum Assured
12th year NA 40% S.A+ G.A+ L.A

c) Maturity Benefit

For policy term of 9 years: 60% of the Sum Assured along with Guaranteed Additions and Loyalty Addition, if any, will be payable.

For policy term of 12 years:  40% of the Sum Assured along with Guaranteed Additions and Loyalty Addition, if any, will be payable as described in above survival benefit table.

D) Guaranteed Addition:

The Guaranteed Addition will accrue for each policy year at the following rates:

– Rs. 65 per thousand Sum Assured per year for a policy of 9 years term.

– Rs. 70 per thousand Sum Assured per year for a policy of 12 years term.

In case of a death claim or surrender of fully paid up policy (applicable for policy term of 12 years), the Guaranteed Additions for the policy year of death or surrender will be added fully.

In case of surrenders and paid-up policies, the Guaranteed Additions for the policy year in which the last premium is received will be added on proportionate basis. For example, if two months’ premiums have been received for the policy year, then 2/12th of the Guaranteed Additions for that policy year shall be added.

E) Loyalty Addition:

Depending upon the Corporation’s experience with regard to policies issued under this plan, the policy will be eligible for Loyalty Addition on death during the last policy year or on the Life Assured surviving the stipulated date of maturity at such rate and on such terms as may be declared by the Corporation.

Eligibility Conditions and Restrictions Jeevan Varsha:

a) Minimum Sum Assured: Rs.75,000/- for ECS monthly mode OR Rs 50,000/- for other modes

b) Maximum Sum Assured: No limit

c) Minimum age at entry: 15 years completed.

d) Maximum age at entry: 66 years (nearest birthday) for policy of term 9 years 63 years(nearest birthday) for policy of term 12 years

e) Maximum age at maturity : 75 years nearest birthday

f) Policy Term : 9 & 12 years

g) Premium Paying Term:9 years

The Sum Assured shall be in multiples of Rs. 5,000.

Age at entry for the life assured is to be taken as age nearest birthday except for the minimum age at entry i.e. 15 years.

4. Modes of Premium Payment :

You can pay premium Yearly, Half yearly, Quarterly and Monthly (through ECS only)

Grace Period For Payment Of Premium:

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

If death occurs within this period and before the payment of the premium then due, the policy will still be valid and the Sum Assured shall be paid after deduction of the said premium as also unpaid premiums falling due before the next Policy anniversary.

If premium is not paid before the expiry of the grace days, then the Policy will lapses.

5. Rebates (Discount):

Mode Rebates:

Rebates are available at the following rates:
Yearly mode : 2% of tabular premium
Half-yearly mode: 1% of the tabular premium

Sum Assured Rebates:

Sum Assured
Rebate
Less than Rs.1, 00,000 Nil
Rs 1, 00,000 to Rs 1, 99,999 Rs 2.00
Rs 2, 00,000 ato Rs. 4,99,999 Rs 3.50
Rs. 5,00,000 and above Rs 5.00

6. Paid-Up Value:

If after at least 3 full years’ premiums have been paid in respect of this policy and any subsequent premium be not duly paid, this policy shall not be wholly void, but shall subsist as a paid-up policy for a reduced sum.

 

7. Guaranteed Surrender Value:

The Guaranteed surrender value will be available after the expiry of 3 policy years, provided the premiums have been paid for at least three years. The guaranteed surrender value allowable under this policy is equal to 30 percent of the total amount of the premiums paid excluding the premium for the first year, all extra premiums that may have been paid and the amount of survival benefits paid earlier. The cash value of any existing guaranteed additions will also be payable.

Jeevan Varsha Special Surrender Value:

Special surrender value will be payable if it is more favorable to the policyholder. The Special Surrender Value will be the discounted value of the Sum Assured and Guaranteed Additions accrued. The discount factors shall be the special surrender value factors used for Endowment Assurance plan, which will depend on the policy term and the duration elapsed since commencement of the policy. The cash value of any existing guaranteed additions will also be payable.

10. Loans:

Loan facility will be available under this plan after the policy acquires paid up value.
The rate of interest charged for this loan amount would be determined from time to time by the Corporation (LIC Of India).


Update: LIC Jeevan Varsha Plan No. 196 Has Been Discontinued.