Endowment
Other Plans
Target Plan- (Color Your Dreams)
LICI’s Endowment Assurance plan enables long term planning for specific Target such as child’s higher Education, children’s Marriage, Housing, Retirement etc.
Target Classic Plan 614
Unique features: Low premiums, High returns
Need to Know:
- Age Limit- Minimum: 12 years & Maximum: 65 years
- Policy Term: 5 years to 40 years
- Terminal Illness Benefit: 50% of the sum assured is payable if the life assured becomes terminally ill and the balance along with the vested bonuses is payable on the death of the assured (Contact us for more information)
- Optional Benefits: Accident Benefit, Critical Illness Rider and Term Assurance Rider.
To know “What is in there for You” click here
Eligibility
ELIGIBILITY CONDITIONS AND OTHER RESTRICTIONS:
Minimum age at entry | 12 years |
Maximum age at entry | 65 years |
Maximum age at maturity | 75 years |
Minimum Basic Sum Assured | $10,000 (multiples of $1000) |
Maximum Basic Sum Assured | No Limit |
Term of policy | 5 to 50 years |
Minimum Accident Benefit Sum Assured | $10,000 |
Maximum Accident Benefit Sum Assured | Equal to Basic Sum Assured subject to the maximum aggregate limit of $200,000 under all existing policies on the same life |
Target Classic Plan Benefits
Basic Benefits
Death Benefit – Payment of the sum assured plus the vested bonuses along with Final Additional Bonus, if any, on death of the life assured during the term of the policy.
Maturity Benefit – Payment of the sum assured plus the vested bonuses along with Final Additional Bonus, if any, on the date of maturity of the policy.
Terminal Illness Benefit – 50% of the sum assured is payable if the life assured becomes terminally ill and the balance along with the vested bonuses is payable on the death of the assured.
This benefit shall be subject to the following conditions:
- This benefit will commence after two years from the date of issue of the policy.
- On payment of this benefit, the sum assured under the policy is automatically reduced by half
- The policyholder will continue to pay the premiums falling due under the policy.
- All attachable benefits such as accident benefit, critical illness, and term assurance, if any, shall cease on payment of this benefit
Optional Benefits
The optional benefits are available on payment of additional premiums over and above the basic premiums. These benefits are Accident Benefit, Critical Illness Rider and Term Assurance Rider. These benefits are conditional and are provided after fulfilling certain criteria.
Target Limited Payment Plan 648
Unique Features- Flexibility to pay for limited period and enjoy the golden years. Options of premium payment are 5,10, 15 or 20 years and the policy term options are 10,15, 20 or 25 years.
Need to Know:
- Age Limit- Minimum: 18 years & Maximum: 65 years
- Policy Term: 10, 15, 20 or 25
Eligibility
ELIGIBILITY CONDITIONS AND OTHER RESTRICTIONS:
Minimum Sum Assured | 10,000 |
Maximum Sum Assured | No Limit |
Policy Term | 15, 20 & 25 years |
Premium Payment Term (PPT) | 5,10,15 & 20 years |
Minimum age at entry | 18 years |
Maximum age at entry | 60 years |
Minimum Accident Benefit Sum Assured | $10,000 |
Maximum Accident Benefit Sum Assured | Equal to Basic Sum Assured subject to the maximum aggregate limit of $200,000 under all existing policies on the same life |
Target Limited Payment Benefits
Basic Benefits
Death Benefit: Payment of the sum assured plus the vested bonuses along with Final Additional Bonus, if any, on death of the life assured during the term of the policy. Maturity Benefit: Payment of the sum assured plus the vested bonuses along with Final Additional Bonus, if any, on the date of maturity of the policy. Terminal Illness Benefit: 50% of the sum assured is payable if the life assured becomes terminally ill and the balance along with the vested bonuses is payable on the death of the assured.
This benefit shall be subject to the following conditions:
- This benefit will commence after two years from the date of issue of the policy.
- On payment of this benefit, the sum assured under the policy is automatically reduced by half
- The policyholder will continue to pay the premiums falling due under the policy.
- All attachable benefits such as accident benefit, critical illness, and term assurance, if any, shall cease on payment of this benefit
Optional Benefits The optional benefits are available on payment of additional premiums over and above the basic premiums. These benefits are Accident Benefit and Term Assurance Rider. These benefits are conditional and are provided after fulfilling certain criteria.
Target Single Payment Plan 648
Unique Feature- The premium is paid in one instalment facilitating prudent lumpsum investment.
Need to Know:
- Age at Entry- Minimum: 18 years & Maximum: 65 years
- Policy Term: 10 years
- Mode of Premium - Single
To know “What is in there for You” click here
Eligibility
ELIGIBILITY CONDITIONS AND OTHER RESTRICTIONS:
Minimum age at entry | 18 years |
Maximum age at entry | 65 years |
Maximum age at maturity | 75 years |
Minimum Basic Sum Assured | $10,000 (multiples of $500) |
Maximum Basic Sum Assured | No Limit |
Term of policy | 10 years |
Minimum Accident Benefit Sum Assured | $10,000 |
Maximum Accident Benefit Sum Assured | Equal to Basic Sum Assured subject to the maximum aggregate limit of $200,000 under all existing policies on the same life |
Target Single Payment Benefits
Basic Benefits
Death Benefit: Payment of the sum assured + the vested bonuses on death of the life assured during the term of the policy.
Maturity Benefit: Payment of the sum assured + the vested bonuses on the date of maturity of the policy.
Optional Benefits
The optional benefits are available on payment of additional premiums over and above the basic premiums. These benefits are Accident Benefit and Term Assurance Rider. These benefits are conditional and are provided after fulfilling certain criteria.
All Information provided on this website is only illustrative and is subject to change.
Please contact your LICI Agent or LICI office for any further clarifications.
Quick Links
68 Years of Commitment and Trust
