CUSTOMER INFORMATION SHEET /KNOW YOUR POLICY

This document provides key information about your policy. You are also advised to go
through your Policy Document.
Sl. Title Description in Simple Words Policy Clause
no. (Please refer to applicable Policy Clause Number in Number
next column)
1. 1 Name of the LIC’s New Endowment Plan (UIN: 512N277V03) Part A
. Insurance
Product
and Unique
Identification
Number (UIN)
2. 2 Policy Number _____________________ Part A
.
3. 3 Type of Non-Linked other than Pure risk and pension Part B -
. Insurance Policy Definitions

4. 4 Basic Policy  Instalment Premium (Rs): __________ Schedule

. details (Taxes, if any, as applicable from time to time
are charged extra).

 Mode of premium payment: _______ Schedule

 Premium Payment Term: _________ Schedule

 Policy Term: __________ Schedule

 Basic Sum Assured (Rs): __________ Schedule

 Sum Assured on Death: Sum Assured on Death

is defined as Higher of Basic Sum Assured or 7 Condition 1.A of
Part C
times of Annualized Premium

 Sum Assured on Maturity: Sum Assured on

Maturity is equal to Basic Sum Assured. Condition 1.B of
Part C

5. 5 Riders opted, if <<Not Applicable (if rider is not opted)>> Schedule

. any
<<Rider Name and UIN (as opted for by the
policyholder)

For details of Benefits and Conditions of

riders(s), mentioned above, refer Endorsement to
this policy.>>
6. 5 Policy  Benefit payable on Death: Condition 1.A of

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 . Coverage / Death benefit payable in case of death of the Life Part C
benefits Assured before the stipulated Date of Maturity
payable provided the policy is in-force shall be “Sum
Assured on Death” along with vested Simple
Reversionary Bonuses and Final Additional
Bonus, if any.

This Death Benefit shall not be less than 105% of

total premiums paid upto the date of death.

 Benefit payable on Maturity:

On Life Assured surviving the stipulated Date of
Maturity provided the policy is in-force, “Sum Condition 1.B of
Part C
Assured on Maturity” along with vested Simple
Reversionary Bonuses and Final Additional
Bonus, if any, shall be payable.

 Surrender Benefits:
The policy can be surrendered by the
policyholder after completion of first policy year
provided one full year’s premium(s) has been Condition 4 of
paid. However, the policy shall acquire Part D
Guaranteed Surrender Value on payment of
atleast two full years’ premiums and Special
Surrender Value after completion of first policy
year provided one full year’s premium(s) has
been paid. On surrender of an in-force or paid-up
policy, the Corporation shall pay the Surrender
Value equal to higher of Guaranteed Surrender
Value and Special Surrender Value.

 Options to Policyholders for availing benefits,

if any, covered under the policy:
i) Option to take Death Benefit in instalments:
This is an option to receive Death Benefit in
instalments over the chosen period of 5 or 10
or 15 years instead of lump sum amount under
an in-force as well as paid-up policy.

ii) Settlement Option (for Maturity Benefit): Condition 8 of

Settlement Option is an option to receive Part D
Maturity Benefit in instalments over the
chosen period of 5 or 10 or 15 years instead of
lumpsum amount under an in-force as well as
paid-up policy.

Condition 9 of
Part D

7. 6 Options Not Applicable

. available (in

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 case of Linked
Insurance
Products)
8. 7 Option available Not Applicable
. (in case of
Annuity product)
9. 9 Exclusions Suicide Exclusion: The provisions related to Condition 2 of
. (events where claim payment in case of death due to suicide Part F
insurance shall be subject to the conditions as specified
coverage is not herein under:
payable), if any.
i) If the Life Assured (whether sane or insane)
commits suicide at any time within 12 months
from the date of commencement of risk, the
Nominee or Beneficiary of the Life Assured shall
be entitled to 80% of the total premiums paid till
the date of death (excluding any extra premium,
rider premiums other than term assurance rider,
if any and taxes, if collected explicitly), provided
the policy is in force.

ii) If the Life Assured (whether sane or insane)

commits suicide within 12 months from date of
revival, an amount which is higher of 80% of the
total premiums paid till the date of death
(excluding any taxes if collected explicitly, extra
premium and rider premiums other than term
assurance rider, if any,) or the surrender value
available as on the date of death, shall be
payable. The Nominee or Beneficiary of the Life
assured shall not be entitled to any other claim
under this policy.

This clause shall not be applicable for a policy

lapsed without acquiring paid up value and
nothing shall be payable under such policy.

The relaxation mentioned under Non-forfeiture

provisions shall not be applicable in case of
death due to suicide.

10. Waiting/ lien Not Applicable

Period, if any
11. 1 Grace period  30 Days for Yearly, Half-yearly, Quarterly mode Condition 6 of
1 of premium payment Part C
.  15 Days for Monthly mode of premium payment
12. 1 Free Look 30 Days Condition 7 of
2 Period Part D
.
13. Lapse, paid-up  Lapse: Lapse is the status of the policy when Part B-
and revival of due premium is not paid within the days of grace. Definitions
the Policy
 Paid-up: If after at least one full year’s
premium(s) has been paid and any subsequent Condition 2 of

3
 premiums be not duly paid, on completion of first Part D
policy year, this policy shall not be wholly void,
but shall subsist as a paid-up policy till the end of
the policy term.

 Revival: A policy in lapsed condition may be

revived during the life time of the Life Assured,
but within the Revival Period and before the date Condition 3 of
of maturity, as the case may be. Part D

14. 1 Policy Loan, if Loan can be availed after completion of first policy Condition 5 of
4 applicable year, provided one full year’s premium(s) has been Part D
. paid and shall be subject to the terms and conditions
of the policy.
15. 1 Claims/ Claims  Brief procedure and list of documents Condition 4 of
5 Procedure required including bank account details Part F
.
 Turn Around Time (TAT) for claims
settlement:

S Service Description of Item / TAT

No Service
1 Death Death claims 15 days
Claims settlements not requiring
Investigations
Early Death Claims 45 days
requiring investigations -
decision & payment

Settlement of Maturity
Claims
Survival,
Maturity, Settlement of Survival On due
2
Annuity Benefits date
payments Annuity
payments/Pension
Payments
Auto Policy Payments One month
Action information(Survival before due
3
by Benefits, Maturity date
Insurer Benefits)

 Link for downloading claim form :

https://licindia.in/web/guest/download-forms

For updated details, we request you to regularly

check our website www.licindia.in

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16. 1 Policy Servicing  Turn Around Time (TAT):
6
. S Description of Item of Service TAT
No
1 Post Policy service requests 7 days
concerning mistakes / corrections
in the policy document
2 Free look cancellation and refund 7 days
from the date of receipt of request
3 Change of Address (KYC norms to 7 days
be complied)
4 Registration / Change of 7 days
Nomination, Assignment
5 Alteration in original policy 7 days
conditions (where applicable)
6 Policy Loan 7 days
7 Decision on Policy revival after 7 days
receipt of all requirements
8 Issue of Premium Payment 7 days
certificates (PPC)
9 Issue of Duplicate Policy 7 days
10 Premium due intimation One
month
before
due date
11 Surrender or Partial withdrawal of 7 days
Policy

 Helpline/Call centre number: 91-022-68276827

 SMS LICHELP<POLICY NUMBER> to

9222492224

 WhatsApp No- 8976862090

Contact details of the Insurer:

 Please contact us at our Branch Office, the

details of which are mentioned in the Part A
(First Page) of the policy document

 Alternatively please visit https://licindia.in/branch

to locate your Brach

 Please visit
https://licindia.in/web/guest/download-forms for
downloading applicable forms and list of
documents required including bank account
details.

 For updated details , we request you to regularly

visit our website www.licindia.in

17. 1 Grievances
7 / Complaints S Description of Item of Service TAT
. No
1 Acknowledgement to complaint Immediately

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2 Action on Complaint and
Intimation of decision to the 14 days
complainant
3 If complaint is NOT resolved, 14 days from
communicate the details to the original date
Policyholder of the options of receipt of
including referring the complaint
complainant to Insurance
Ombudsman / Consumer Court

 Contact details of Grievance Redressal

Officer of the Insurer:
You may contact the Grievance Redressal
Officer on the address as mentioned in the
Part A (First page) of the Policy Document.

Alternatively the details of Grievance Redressal

Officers can be found on the below link:
https://licindia.in/web/guest/grievances

 Link for registering the grievance with the

Insurer’s portal:
If you are a registered policy holder you can Part G
directly register complaint/ grievance and track
its status through our Customer Portal (website)
www.licindia.in. You can also contact at e-mail
id: co_complaints@licindia.com for redressal of
any grievances.

Link for registering:

https://ebiz.licindia.in/D2CPM/?_ga=2.72703123
.1272923387.1677050657-
120722208.1677050657#Login

 Contact details of Ombudsman:

You can also approach Insurance Ombudsman
whose Address and contact details is given in
Part A (First page) of the Policy Document.

Alternatively the details of Ombudsman can be

found on the below link:
https://cioins.co.in

022-69038800/69038812

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Declaration by the Policyholder
I have read the above and confirm having noted the details.

Place: (Signature of the Policyholder)

Date:

Note:
i. Product related documents including the Customer Information sheet are
available on Corporation’s website www.licindia.in
ii. In case of any conflict, the terms and conditions mentioned in the policy
document shall prevail.