LIC's New Term Assurance Rider Calculator

Rider UIN: 512B210V02 - (An Individual, Life, Non-linked, Term Assurance Rider)

Current Age Min: 18, Max Entry: 60 (NB).

Base Policy Sum Assured (₹) Rider SA cannot exceed this. (Overall Rider SA cap ₹25 Lakhs).

Term Assurance Rider Sum Assured (₹) Min ₹1,00,000, Max ₹25,00,000. Cannot exceed Base Policy SA.

Rider Term (Years) Min 5 (Reg/Single), 10 (Limited). Max 35. Max Cover Ceasing Age: 75 (NB).

Premium Payment Type Choose how to pay rider premiums.

Rider Premium Paying Term (PPT) For Limited option. Min 5, Max 34 years (and <= Rider Term - 1).

Premium Payment Mode Frequency (for Regular/Limited).

Rider Premium Options

Click on a premium option to see its details.

GST: Rider Premiums shown are inclusive of 18% GST (assumed rate). Base rider premiums are exclusive of GST. Actual GST is as per prevailing rates.

Premium Calculation Note: Premiums are estimated based on interpolating sample rates for Rs. 1 Lakh Rider SA from the brochure. Modal premiums include assumed standard loadings. Actual premiums may vary based on LIC's underwriting.

Rider Death Benefit

On death of the Life Assured during the Rider term (if rider & base policy are in-force), the "Term Rider Sum Assured on Death" is payable.

"Term Rider Sum Assured on Death" is defined as:
For Regular/Limited Premium: Highest of (a) Term Assurance Rider Sum Assured, (b) 7 times Annualized Rider Premium, (c) 105% of Total Rider Premiums Paid.
For Single Premium: Higher of (a) Term Assurance Rider Sum Assured, or (b) 1.25 times Single Rider Premium.
Premiums for this definition exclude taxes & underwriting extras. Annualized Rider Premium also excludes modal loadings.

Rider Maturity Benefit

On survival to the end of the term of the Rider, nothing shall be payable.

Year-wise Rider Illustration

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Rider Year	Age (EOY)	Annualised Prem.(₹)	Cum. Prem. Paid (₹)	Term Assurance Rider SA (₹)

Above illustration shows the Term Assurance Rider Sum Assured. The actual "Term Rider Sum Assured on Death" will be as per definition. Annualized Rider Premium is exclusive of GST and modal loadings.

Plan Summary

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Eligibility & Terms:

Attached with Non-Linked plans at inception.
Minimum Entry Age: 18 years (completed).
Maximum Entry Age: 60 years (nearest birthday).
Maximum Cover Ceasing Age: 75 years (nearest birthday).
Minimum Rider Term: 5 years (Single/Regular Prem), 10 years (Limited Prem).
Maximum Rider Term: 35 years.
Minimum Rider SA: ₹1,00,000. Maximum Rider SA: ₹25,00,000 (and <= Base Policy SA).
Premium Payment: Single, Regular, Limited.
Limited PPT: 5 to 34 years (and <= Rider Term or Rider Term-1 as applicable).

Rebates/Loadings:

Mode Rebate/Loading: Same as Base Plan.
High Sum Assured Rebate: Nil for this rider.
Online Rebate: Same as Base Plan.

Other Points:

No Paid-up value or Surrender value for the rider.
Suicide clause as per Base Policy applies to rider.

Download Brochure

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