Choose at most one between AD&DB or Accident Benefit; you may also opt Premium Waiver Benefit. Total rider premiums ≤ 30% of base premium. No riders allowed if POSP/CPSC is selected.
| Premium Mode | Tabular Premium | Mode Rebate | High SA Rebate | Online Rebate | Net Premium (ex-GST) | 1st Year (incl. GST) | 2nd Year+ (incl. GST) |
|---|
Premium includes GST as applicable. The illustration uses 4.5% in 1st year and 2.25% thereafter. GST rates may change.
| Sum Assured on Maturity (= Basic SA) | Total Maturity (Guaranteed) |
|---|
Jeevan Azad is Non-Par; no bonuses/FAB. Settlement Option available: take maturity in instalments for 5/10/15 years (M/Q/H/Y). Minimum instalments: ₹5,000 (M), ₹15,000 (Q), ₹25,000 (H), ₹50,000 (Y). Interest: annual effective ≥ 10-yr semi-annual G-Sec − 2% (e.g., 5.07% for May 1, 2024 – Apr 30, 2025).
After risk start & during term: Sum Assured on Death (as above). No bonuses; guaranteed plan. Option to take Death Benefit in instalments (5/10/15 years) with same minimum instalments and interest basis (5.07% for 2024–25 window).
| Policy Year | Age | Annual Premium | Cumulative Premium | Death Benefit (SAD) | Surrender Value (GSV) | Surrender Value (SSV) |
|---|
Death Benefit = max(BSA, 7× AP) but ≥ 105% of total premiums paid (base). SSV shall be reviewed annually per IRDAI Master Circular (12-Jun-2024).
✓ This is a Non-Par, Non-Linked Plan. Benefits are guaranteed and fixed. No bonuses/FAB.
✓ Taxes (GST/other) are over & above premium and not considered for benefit calculations. Rates may change.
✓ This illustration is based on the information provided and LIC Jeevan Azad brochure (UIN: 512N348V02).