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LIC

Amritbaal

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LIC’s Amritbaal is a, Non-Par, Non-Linked, Life, Individual, Savings plan

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The essentials

Your plan at a glance

Min. sum assured
200000
Policy term
5 Yeara to 25 Years
Entry age
30 days to 13 years
Premium payment
Online , Offline

Features & Benefits

Guaranteed Additions
Guaranteed Additions are added every policy year during the specified period.
Life Cover
Provides financial protection throughout the policy term.
Survival Benefits
Regular payouts are available as per plan conditions.
Flexible Premium Payment
Choice between Single Premium and Limited Premium Payment.
Maturity Age Flexibility
Maturity age can be selected between 18 and 25 years.
Instalment Benefit Option
Option to receive benefits in instalments.
Premium Waiver Benefit Rider
Available on payment of additional premium.
High Sum Assured Rebate
Attractive rebate available for higher Basic Sum Assured.
Loan Facility
Loan facility available to meet liquidity needs.

Coverage Details

Parameter Details
Plan Type Non-Par, Non-Linked, Life, Individual, Savings Plan
Participation Non-participating (no bonus / surplus share)
Guaranteed Addition Rs. 80 per Rs. 1,000 Basic Sum Assured throughout policy term
Premium Options Single Premium / Limited Premium
Premium Paying Term Single Pay / 5, 6 or 7 years
Policy Term 5 to 25 years
Maturity Age 18 to 25 years
Loan Facility Available
Premium Waiver Rider Available
Instalment Option Available
High Sum Assured Rebate Available

Exclusions

Suicide Clause: Benefits are subject to LIC policy terms and applicable suicide clause conditions.
Incorrect Information: Claims may be affected if material information is hidden or incorrectly declared.
Underwriting: Maximum Basic Sum Assured is subject to underwriting decision.
Bonus: No discretionary bonus or share in surplus is payable.

Eligibility Criteria

Minimum Entry Age 30 days completed
Maximum Entry Age 13 years (last birthday)
Minimum Maturity Age 18 years (last birthday)
Maximum Maturity Age 25 years (last birthday)
Minimum Policy Term (Limited Premium) 10 years
Minimum Policy Term (Single Premium) 5 years
Maximum Policy Term 25 years
Maximum Policy Term for POSP-LI/CPSC-SPV 20 years
Premium Payment Term (Limited) 5, 6 or 7 years
Premium Payment Term (Single) Single Pay
Minimum Basic Sum Assured Rs. 2,00,000
Maximum Basic Sum Assured No limit, subject to underwriting decision

Required Documents

Identity Proof
Aadhaar Card PAN Card
Address Proof
Voter ID Passport Utility Bill
Financial Documents
Income proof, if required
Other Documents
Passport size photograph Birth proof of child Medical reports, if required

Frequently Asked Questions

Yes. It is designed to create a corpus for higher education and future needs of a child.

Rs. 80 per thousand Basic Sum Assured throughout the policy term.

Yes. The maturity age can be selected between 18 and 25 years.

Single Premium and Limited Premium Payment options are available.

Yes, on payment of additional premium.

Yes, loan facility is available under the policy.

No. This is a non-participating plan and is not entitled to discretionary bonuses.

Basic Sum Assured plus Accrued Guaranteed Additions.

Sum Assured on Death as per selected option plus Accrued Guaranteed Additions.

30 days completed.

13 years.
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