Benefits

Guaranteed NAV:
In this product there is a guarantee of the highest NAV recorded on a daily basis, in the first 100 months of the policy, subject to a minimum of ` 10. This means the payment at the end of the policy term will be based on highest NAV recorded over the first 100 months of the policy, or the NAV as applicable on the date of maturity, whichever is higher. The guarantee will be applicable only for units available in the policyholder’s fund at the end of the policy term. The period to be counted for guarantee of NAV shall be 100 months from the date of commencement of policy.

A) Death Benefit:
In case of death of the Life Assured within the policy term, when the cover is in full force, the nominee shall get higher of the Sum Assured under the Basic Plan and the Policyholder’s Fund Value. However, if partial withdrawal has been made during the last two years from the date of death, the Sum Assured under the Basic plan shall be reduced to the extent of the amount of partial withdrawals made.
The Policyholder’s Fund on death shall be determined at the prevailing NAV as on the date of receipt of intimation of death. 

B) Maturity Benefit:
On the policyholder surviving the date of maturity an amount equal to the Policyholder’s Fund Value is payable. The Policyholder’s Fund at the end of policy term shall be based on the highest Net Asset Value (NAV), over the first 100 months of the policy or the NAV as applicable on the date of maturity, whichever is higher.

2. Options:
   Accident Benefit Option:
If you are between 18 and 60 years of age, you may opt for Accident Benefit equal to the amount of life cover subject to minimum of ` 25,000 and maximum of ` 50 lakh (taken all policies with LIC of India and other insurers.) In case of death due to an accident, an additional sum equal to Accident Benefit Sum Assured shall be payable.
           
3. Investment of Funds: The fund detail is as under:

Fund Type	Investment in Government / Government Guaranteed Securities / Corporate Debt	Short-term investments such as money market instruments	Investment in Listed Equity Shares	Details and objective of the fund for risk / return
Samridhi Plus Fund	0% to 100%	0% to 100%	0% to 100%	Medium Risk

In the period during which this product is open for sale, all premiums received shall be invested in Money Market instruments of applicable duration i.e. the period from the date of sale to the date of closure of the plan. After the date of closure of the plan the above investment pattern shall be followed.
 

4.  Surrender:  The surrender value, if any, is payable as under:
If the policy is surrendered within 5 years from the date of commencement of the policy:
If you apply for surrender of the policy within 5 years from the date of commencement of policy, then the Policyholder’s Fund Value after deducting the Discontinuance Charge, if any, shall be converted into monetary terms as per para 11 below. This monetary amount shall be credited to the Discontinued Policy Fund and no charges shall be deducted thereafter. The Proceeds of the Discontinued Policy, as per para 11 below, shall be payable on completion of 5 years from the date of commencement of policy.
In case of death of life assured after the date of surrender but before the completion of 5 years from the date of commencement of policy the Proceeds of the Discontinued Policy shall be payable to the nominee/ legal heir immediately.

If the policy is surrendered after 5 years from the date of commencement of the policy:
If you apply for surrender of the policy after 5 years from the date of commencement of policy, then the Policyholder’s Fund Value, as at the date of surrender, shall be payable. There will be no Discontinuance Charge