Death Benefit:

a) On death during the policy term before the date of commencement of risk: Return of single premium excluding service tax and extra premium, if any, without interest.
b) On death during the policy term after the date of commencement of risk: Sum Assured along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any.

Maturity Benefit:

Sum Assured, along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable.
Participation in profits: The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation.
Final (Additional) Bonus may also be declared under the policy in the year when the policy results into a claim either by death or maturity on such terms and conditions as may be declared by the Corporation from time to time.

Before Buying Life Insurance from Other Private companies in India Please read the following:

Positions:

Largest insurance Company in the world in Customer Base (25 Cr customers) & 30 Cr Policies
No.1 insurance company in the world in terms of agency (about 1.2 Million agents)
LIC is No.1 insurer in the world in Volume & Sold around 3.57 Cr.Policies in 2011-2012.
2nd Biggest Real Estate Owner next to Indian Railways.
LIC is one of the Highest income tax playing Organization. For Financial Year 2012-13, LIC has paid advance Tax Rs.2627. 14 Cr. & Service Tax Rs.1297. 15 Cr.
Has Highest insurance Professionals ( Club Member agents )
Only 4 countries in the world have more population that LIC`s policy holders.

Award - Recognition

Adjudged "The most trusted service Brand" in India, by "Economic Times and AC NEILSEN ORG MARG" for the year 2007 for the 5th consecutive year.
"Golden Peacock" award for Excellence in "corporate Governance"
LIC adjudged as "Best life insurance Company of the year" at the "2nd"NDTV Profit Business Leadership Awards-2007.
LIC adjudged the "Most Preferred Life insurance Company of the year" at the "CNBC AWAAZ" consumer award 2007 for 3rd time in succession.
Awarded Reader Digest's "Trusted Brand"2006,2007&2008 (Voted by Consumers)
"Outlook Money NDTV Profit Award 2007"
"Web 18-Genius of the web Award" Conferred for the best website in insurance Category
"SKOCH Challengers Award 2008" for "Jeevan Madhur".
"Loyalty Awards 2008"- insurance Sector.
Double crown for LIC in corporate Olympics 2008, Most Sporting Corporate 2) Corporate Championship Award Winner-2008

Honouring of the Commitment - Settlement of Claims

No.1 insurance Company in the world in terms of claims paid.
LIC Settles 2.64 claims per second, LIC settled 183.63 lakhs claims during the year 2012-2013.
Prompt settlement of claims (97% maturity claim settled on or before due date)
One of the Lowest outstanding Claim Ratio in the world ( Maturity+S B Claim-0.50%)