LIC JEEVAN SHIROMANI PLAN 847

LIC JEEVAN SHIROMANI PLAN 847
19th December, 2017 Plan (Plan Shiromani Plan (Plan No.847) with effect from Shiromani veevan The Unique Identification for Plan number has Jeevan to the Policyholders other users to be quoted in all relevant documents furnished and (public, distribution channels). LIC's Jeevan Shiromani plan is a non-linked, with-profits, limited premium payment money back life insurance plan especially designed for targeted s of Hig plan provides financial support for the family only in case of death of Life Assured during the policy term but also provides for payment of a lumpsum amount on diagnosis of any of the specified Critical Illnesses. Under this plan Guaranteed Additions shall accrue at the rate of Rs.50 per thousand Basic Sum Assured for the first five years and Rs.55- per Basic Sum from policy year till the end of premium paying term as detailed in Para 4 below. In addition, the policy shall participate in the profits in form of Loyalty Additions as detailed in Para 5 below.
The Basic Sum Assured shall be in multiples of Rs. 500,000/-) c) Policy Term 14, 16, 18 and 20 years d Premium Paying Term (PPT) (Policy term less 4) years e) Minimum Age at entry 18 years (completed) f) Maximum Age at entry 55 years (nearer birthday) for policy term 14 years 51 years (nearer birthday) for policy term 16 years 48 years (nearer birthday) for policy term 18 years 45 years (nearer birthday) for policy term 20 years g) Maximum Age at Maturity 69 years (nearer birthday) for policy term 14 years 67 years (nearer birthday) for policy term 16 years 66 years (nearer birthday) for policy term 18 years 65 years (nearer birthday) for policy term 20 years Age at entry for the Policyholder is to be taken as age nearer birthday (nbd) except for the minimum age at entry i.e. 18 years, where it is completed years. Date of Commencement of Risk: Under this plan the risk will commence immediately from the Date of issuance of policy
a) Death Benefit: On death during first five years: "Sum Assured on Death" along with accrued Guaranteed Additions shall be payable. On death after completion of five policy years but before the date of maturity: Sum Assured on Death" along with accrued Guaranteed Additions and Loyalty Addition, if any, shall be payable Where "Sum Assured on Death" is defined as the higher of 10 times of annualised premium or Absolute amount assured to be paid on death, ie. 125% Basic Sum Assured This death benefit shall not be less than 105% of all the premiums paid as on date of death Premiums referred above shall not include any taxes, extra amount chargeable under the policy due to underwriting decision and rider premiums, if any. b) Survival Benefit: On the life assured surviving to each of the specified durations during the policy term, a fixed percentage of Basic Sum Assured shall be payable. The fixed percentage for various policy terms is as below For policy term 14 years: 30% of Basic Sum Assured on each of 10th and 12th policy anniversary For policy term 16 years: 35% of Basic Sum Assured on each of 12 and 14th policy anniversary For policy term 18 years: 40% of Basic Sum Assured on each of 14th and 16th policy anniversary For policy term 20 years: 45% of Basic Sum Assured on each of 16th and 18th policy anniversary c) Maturity Benefit: On the life assured surviving to the end of the policy term, Sum Assured on Maturity" along with accrued Guaranteed Additions and Loyalty Addition, if any, shall be payable. Where "Sum Assured on Maturity" is as under: For policy term 14 years: 40% of Basic Sum Assured
Lumpsum Benefit: Inbuilt Critical Illness Benefit equal to 10% of Basic Sum Assured shall be payable subject to the following Conditions and Restrictions as mentioned in Para 3.d.ll below Claim is incurred before the termination of Inbuilt Critical lllness benefit as mentioned n Para 3 d.ILG below The claim is proved as admissible to the satisfaction of the Corporation i) Option to defer the payment of premiums if a claim under Inbuilt critical liness Benefit is paid: When a claim under Inbuilt Critical ness Benefit is admitted, life assured will have an option to defer the payment of premiums falling due within 2 years fram the date of admission of Critical illness claim under the policy (including rider premiums). The deferment of premiums shall be allowed for a period of 2 years from the date of admission of Critical Illness claim and subsequent premiums, if any, shall be payable on their due dates No interest shall be charged from the life assured for deferred premiums within the period of such deferment. During this period, if any outstanding premium(s) are not paid, and any o the benefits payable under the base policy and/or rider(s) become due, the applicable benefit (s) shall be payable as under en inforce policy after the deduction of all the premiums due under the polic iii) Medical Second Opinion: The policyholder will have facility of taking Medical Second opinion, through the available LIC Empanelled healthcare providers or through reputed hospitals in India or through specialist doctors available in different places depending on the arrangement in this regard by the Corporation. This facility shall be available only once during the policy tem with no extra cost to policyholder, irrespective of whether the claim in respect of the diagnosed Critical llness is paid or not. The policyholder will be allowed to avail this facility immediately on claim intimation without the need of verification whether the claim is admissible or not. The Medical Second Opinion shall not include the cost of any diagnostic tests. The Corporation will not be responsible for the opinion provided by Medical Second Opinion. This provision for all or either of the options of Medical Second Opinion is subject to availability of the facility and arrangements made by the Corporation and as intimated in this regard Any further instructions would be issued by CRM Department, Central Office ll. Conditions and restrictions under Inbuilt Critical Illness Benefit: (A) Inbuilt Critical ness Benefit will be payable only after the Corporation is satisfied on the basis of available medical evidence that the specified illness has occurred. However, in some illnesses covered under this benefit. a specific deferment period applies to establish permanence of the illness covered (B) The benefits under Inbuilt Critical Illness Benefit shall be payable only once during the currency of the policy. If a claim under the Lumpsum benefit is proved of less severity the claim submitted is not fulfilling the definition, the claim will not be
IV Kidney failure requiring regular dialysis Major organ Ibone marrow transplant (as recipient) vi. Stroke resulting in permanent symptoms vii. Permanent paralysis of limbs VI Multiple sclerosis with persisting symptoms ix. Aortic surgery x. Primary (idiopathic) pulmonary hypertension xi. Alzheimer's diseasei dementia xii. Blindness xiii Third degree burns xiv. Open heart replacement or repair of heart valves xv. Benign brain tumor The definitions of the critical Illnesses covered are as applicable under LIC's New Critical illness Benefit Rider (UIN: 512A212V01) and the same are as below: CANCER OF SPECIFIED SEVERITY: I. A malignant tumor characterized by the uncontrolled growth and spread of malignant cells with invasion and destruction of normal tissues. This diagnosis must be supported by histological evidence of malignancy. The term cancer includes le lymphoma and sarcoma. ll. The following are excluded i. All tumors which are histologically described as carcinoma in situ, benign, pre malignant, borderline malignant, low malignant potential, neoplasm of unknown behavior, or non-invasive, including but not limited to: Carcinoma in situ of breasts Cervical dysplasia CIN-1, CIN -2 and CIN-3 i. Any non-melanoma skin carcinoma unless there is evidence of metastases to lymph nodes or beyond iii. Malignant melanoma that has not caused invasion beyond the epidermis, iv. All tumors of the prostate unless histologically classified as having a Gleason score greater than 6 or having progressed to at least clinical TNM classification T2NOM0 v. All Thyroid cancers histologically classified as T1NOMO (TNM classification) or below vi. Chronic lymphocytic leukaemia less than RAI stage 3 wii. Non-invasive papillary cancer of the bladder histologically described as TaNOMO or of a lesser classification, viii. All Gastro-intestinal Stromal Tumors histologically classified as T1NOMO TNM Classification) or below and with mitotic count of less than or equal to 5/50 HPFs; ix. All tumors in the presence of HIV infection 2. OPEN CHEST CABG l. The actual undergoing of heart surgery to correct blockage or narrowing in one or more
rst Heart Attack of specific Heart Attack of specific severity) l. The first occurrence of heart attack or myocardial infarction, which means the death of a portion of the heart muscle as a result of inadequate blood supply to the relevant area. The diagnosis for Myocardial Infarction should be evidenced by all of the following criteria i.A history of typical clinical symptoms consistent with the diagnosis of acute myocardial infarction (For e.g. typical chest pain) i. New characteristic electrocardiogram changes iii. Elevation of infarction specific enzymes, Troponins or other specific biochemical markers ll. The following are excluded: i Other acute Coronary Syndromes i Any type of angina pectoris iii A rise in cardiac biomarkers or Troponin T or I n absence of overt ischemic heart disease OR following anintra-arterial cardiac procedure. 4. KIDNEY FAILURE REQUIRING REGULAR DIALYSIS End stage renal disease presenting as chronic irreversible failure of both kidneys to function, as a result of which either regular renal dialysis (haemodialysis or peritoneal dialysis) is instituted or renal transplantation is carried out. Diagnosis has to be confirmed by a specialist medical practitioner. 5. MAJOR ORGAN BONE MARROW TRANSPLANT (as recipient I. The actual undergoing of a transplant of i. One of the following human organs: heart, lung, liver, kidney, pancreas, that resulted from irreversible end-stage failure of the relevant organ. or ii. Human bone marrow using haematopoietic stem cells. The undergoing of a transplant has to be confirmed by a specialist medical practitioner ll. The following are excluded: i. Other stem cell transplants ii. Where only islets of langerhans are transplanted 6. STROKE RESULTING IN PERMANENT SYMPTOMS I. Any cerebrovascular incident producing permanent neurological sequelae. This includes infarction of brain tissue, thrombosis in an intracranial vessel, haemorrhage and embolisation from an extracranial source. Diagnosis has to be confirmed by a specialist medical practitioner and evidenced by typical clinical symptoms as well as typical findings in CT scan or MRI of the brain. Evidence of permanent neurological deficit lasting for at least 3 months has to be produced ll. The following are excluded: i. Transient ischemic attacks (TIA) ii. Traumatic injury of the brain ii, Vascular disease affecting only the eye or optic nerve or vestibular functions. 7. PERMANENT PARALYSIS OF LIMBS
to be multiple sclerosis and ii. there must be current clinical impairment of motor or sensory function, which must have persisted for a continuous period of at least 6 months. ll. Other causes of neurological damage such as SLE and HIV are excluded 9. AORTIC SURGERY The actual undergoing of major surgery to repair or correct an aneurysm, narrowing, obstruction or dissection of the aorta through surgical opening of the chest or abdomen For the purpose of this definition, aorta shall mean the thoracic and abdominal aorta but not its branches Surgery performed using only minimally invasive or intra-arterial techniques are excluded 10. PRIMARY (IDIOPATHIC) PULMONARY HYPERTENSION I. An unequivocal diagnosis of Primary (diopathic) Pulmonary Hypertension by a Cardiologist or specialist in respiratory medicine with evidence of right ventricular enlargement and the pulmonary artery pressure above 30 mm of Hg on Cardiac Cauterization. There must be permanent irreversible physical impairment to the degree of at least Class IV of the New York Heart Association Classification of cardiac Impairment ll. The NYHA Classification of Cardiac Impairment are as follows: i. Class III: Marked limitation of physical activity. Comfortable at rest, but less than ordinary activity causes symptoms. ii. Class IV: Unable to engage in any physical activity without discomfort Symptoms may be present even at rest Ill. Pulmonary hypertension associated with lung disease, chronic hypoventilation pulmonary thromboembolic disease, drugs and toxins, diseases of the left side af the heart, congenital heart disease and any secondary cause are specifically excluded. 11. ALZHEIMER'S DISEASEI DEMENTIA Deterioration or loss of intellectual capacity as confirmed by clinical evaluation and imaging tests, arising from Alzheimer's Disease or irreversible organic disorders, resulting in significant reduction in mental and social functioning requiring the continuous supervision of the Life Assured for a minimum period of 6 months from date of diagnosis This diagnosis must be supported by the clinical confirmation of an appropriate Registered Medical practitioner who is also a Neurologist and supported by the Corporation's appointed doctor The following are excluded: i. Non-organic disease such as neurosis and psychiatric illnesses; and ii. Alcoho-related brain damage. 12. BLINDNESS I, Total, permanent and irreversible loss of all vision in both eyes as a result of illness or accident he Blindness is evidenced by