Life Insurance Corporation Of India

Money Back with Profit



Jeevan Vaibhav (UIN: 512N269V01)

It is a close-ended single premium endowment assurance plan which offers guaranteed benefits on death and maturity along with Loyalty Addition, if any, payable on maturity or on death in the last policy year. 

The plan will be open for sale for a maximum period of 120 days from the date of launch.


Benefits of Jeevan Vaibhav

a)      Death Benefit:

On death during the policy term, excluding last policy year: Sum Assured shall be payable.


On death during last policy year: Sum Assured along with loyalty addition, if any shall be payable.


b)      Maturity Benefit:

On maturity, Sum Assured along with Loyalty Addition, if any, shall be payable.


c)      Loyalty Addition:

Depending upon the Corporation�s experience the policy will be eligible for Loyalty Addition during the last year of the policy at such rate and on such terms as may be declared by the Corporation.



a)      Minimum Entry Age              : 8 years (completed)

b)      Maximum Entry Age             : 65 years (nearest birthday)

c)      Minimum Sum Assured        : Rs. 200,000/-

d)     Maximum Sum Assured        : No Limit

Sum Assured shall be available in multiples of Rs. 10,000/-

e)      Minimum Single premium    : Rs. 95210/-

f)       Policy Term                            : 10 years

g)      Premium payment mode       : Single premium only



Money Back with Profit

Features of money back with profit

Unlike ordinary endowment insurance plans where the survival benefits are payable only at the end of the endowment period, this scheme provides for periodic payments of partial survival benefits as follows during the term of the policy, of course so long as the policy holder is alive.

In the case of a 20-year Money-Back Policy (Table 75), 20% of the sum assured becomes payable each after 5, 10, 15 years, and the balance of 40% plus the accrued bonus become payable at the 20th year.

For a Money-Back Policy of 25 years (Table 93), 15% of the sum assured becomes payable each after 5, 10, 15 and 20 years, and the balance 40% plus the accrued bonus become payable at the 25th year.

An important feature of this type of policies is that in the event of death at any time within the policy term, the death claim comprises full sum assured without deducting any of the survival benefit amounts, which have already been paid. Similarly, the bonus is also calculated on the full sum assured. 





Product summary

These are Money Back type Assurance plans that provide financial protection against death throughout the term of plan along with the periodic payments on survival at specified durations during the term.

Premiums :

Premiums are payable yearly, half-yearly, quarterly, monthly or through salary deductions as opted by you throughout the term of the policy, or till the earlier death. 

Bonuses :

This is a with-profit plan and participate in the profits of the Corporation’s life insurance business. It gets a share of the profits in the form of bonuses. Simple Reversionary Bonuses are declared per thousand Sum Assured annually at the end of each financial year. Once declared, they form part of the guaranteed benefits of the plan. Final (Additional) Bonus may also be payable provided policy has run for certain minimum period. 

Death Benefit:

The Sum Assured plus all bonuses to date is payable in a lump sum upon the death of the life assured during the policy term irrespective of the Survival benefit /benefits paid earlier.