Javascript is not currently enabled in your browser.
You must enable Javascript to run this web page correctly.

The date of Main examination for the recruitment of Apprentice Development officers has been modified as 23.04.2023 from 08.04.2023     "RFP for Consultant for HR Systems"     "Dear Policyholder, Please submit Bank Account Details ( NEFT ) to LIC - Click here to Download NEFT Form"     'SMS "LICHELP < policy no >" and send it to 9222492224 or 56767877 for Policy Enquiry/Product Query/Registering of complaint under your policy     Notice to Public regarding Combination of Products     " Know your policy details through SMS to 'ASKLIC' (ASKLIC < policy no > PREMIUM/LOAN/BONUS/REVIVAL/NOMINATION) and send it to 9222492224 "     Beware of fake / spurious calls - DOs and DONTs     " FRAUDULENT RECRUITMENT ADs: BEWARE...! "     Beware of Spurious Phone Call and Fictitious/Fraudulent Offers     "PLEASE REGISTER IN CUSTOMER PORTAL FOR AVAILING ONLINE SERVICES"     Intimation to policyholders regarding changes in tax structure due to implementation of Goods and ServicesTax (GST) - Click Here     Basic Safety measures to fight against Coronavirus Disease (COVID-19)     "Revised Working Hours of All Offices of LIC Of India from 10.05.2021, pursuant to Notification S.O.1630(E) Dated 15th April 2021 wherein the CENTRAL GOVERNMENT has Declared Every Saturday as a Public Holiday for Life Insurance Corporation of India."     Also on ALL POSSIBLE digital modes through LIC website without any service charges.     "Individual Pension Policyholders/ Annuitants can submit Digital Life Certificate through mobile app Jeevan Saakshya. App can be downloaded from play store"     For Policy enquiry contact LIC Call Centre Services on (022) 68276827     

Home » Products » Withdrawn Plans » LIC's Jeevan Vaibhav (Plan No. 809, UIN : 512N269V01)

LIC's Jeevan Vaibhav (Plan No. 809, UIN : 512N269V01)

Sales Brochure(97 KB)

Date of Withdrawal : 17.09.2012


LIC's Jeevan Vaibhav 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.


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.

Minimum Entry Age  8 years (completed)
Maximum Entry Age   65 years (nearest birthday)
Minimum Sum Assured  Rs. 200,000/-
Maximum Sum Assured  No Limit
Sum Assured shall be available in multiples of Rs. 10,000/-
Minimum Single premium  Rs. 95210/-
Policy Term     10 years
Premium payment mode   Single premium only

Following are some of the sample premium rates (exclusive of Service Tax) per Rs. 1000/- Sum Assured:

Age Premium (Rs.)
20 477.35
30 477.75
40 480.55

4.    High Sum Assured Rebate :

Sum Assured Rebate (Rs.)
Upto 3, 90,000 Nil
4, 00,000 to 5, 90,000 2.00 %o S.A.
6, 00,000 and above 3.00 %o S.A.



Loan facility will be available under this plan, after completion of one policy year.


The policy can be surrendered for cash after the policy has run for at least one year.  The minimum Guaranteed Surrender Value allowable is equal to 90% of the Single premium paid excluding extra premium, if any.
Corporation may however pay Special Surrender value as applicable on the date of surrender provided the same is higher than the guaranteed Surrender Value.
The Special Surrender Value will be the discounted value of the Sum Assured as on date of surrender.


Service tax, if any, shall be as per the Service Tax laws and the rate of service tax as applicable from time to time.
The amount of service tax as per the prevailing rates shall be payable by the policyholder on the premium.


If you are not satisfied with the "Terms and Conditions" of the policy, you may return the policy to the Corporation within 15 days from the date of receipt of the policy stating the reason of objections. On receipt of the same the Corporation shall cancel the policy and return the amount of single premium deposited after deducting the risk premium, expenses incurred on medical examination and stamp duty.


The policy shall be void if the Life Assured (whether sane or insane at the time) commits suicide at any time within one year from the date of commencement of risk and the Corporation will not entertain any claim under this policy except to the extent of a maximum of (i) 90% of the single premium paid excluding any extra premium paid or (ii) third party's bonafide beneficial interest acquired in the policy for valuable consideration (but limited to applicable death benefit of this policy) of which notice has been given in writing to the branch where the policy is being presently serviced (where the policy records are kept) at least one calendar month prior to death.