The objective of this proposal is to provide financial security to your family during your productive span and a happy independent retired lifestyle for yourself and your spouse when you decide to retire. At the age of 35- 40 we start our return journey. How will be our life after 55? What happens if we meet with an early death or if we live for too long? LIC will do the thinking for you and give you all benefits so that you can enjoy your retirement.

This is a special benefit scheme put forward after considerable research. This plan promises you a tension-free retired life.

As per this proposal, right from the age of 55 to the age of 100 or throughout your life span, you will get Rs.50000 per month. Just think of a time when your children have spread their wings and have stopped asking your opinions on their decisions in life. What happens if one of your children wishes to start a business and you are forced to give all your lifetime’s savings for his happiness? Are you sure that this same child will look after you when you are in need?

When you are sweating it out day and night building the future of your family, your children are merrily enjoying the fruits of your hard labor. What happens if you become a burden to them after a few years? Do you wonder if this is the same child who trustingly held your fingers and took his first unsteady step? Do you remember the time when your child learnt to speak his first words from you and you painstakingly tried to decipher the baby prattle? Do you remember how he/ she used to come running to you to fix the wheels of his racing car or her doll’s head? Those were the days when you were GOD to your child. It is no use cursing fate when these same children act as if they were born with all qualifications and turn you into a silent spectator of their current activities. When you leave for work in the morning do you ever wonder if you will see your family again? It is indeed a nightmare for every person to even think of a time when a disaster may snatch them away and leave their family bereft. The agony of the loss of a beloved person does dim with the passage of time. But what happens to the responsibilities and commitments, which you made during your life? Who is going to provide the necessary security for your bereaved family? How long do you expect your friends and relatives to take care of your family?

If by some quirk of fate you meet with an early death, then the security of your children, specially their education, their marriage, debts incurred while constructing a house or buying property as well as a disability income in case you are disabled will be met by LIC. If you are unfortunate enough to be diagnosed with a terminal illness, will you be able to bear the expenditure of the treatment which may last a lifetime? The means of meeting all these expenses is inbuilt in this scheme of LIC. Under this insurance proposal you have to make a premium payment of Rs.284423- per annum from your own funds from the age of 35 till you are 54 years. The proposal provides for a high risk cover of Rs.7343160/- starting at age 35 and growing to Rs.14983200/- at age 55.

This question lurks at the back of every mind- Suppose we live for too long? We wonder if we will be able to spend the last years of our life by going on the much-longed for pilgrimage or if our children can afford to support us.

It is at this time of emotional insecurity, that LIC steps in and provides you with all the security and financial independence that you need. LIC is a fully government owned profit making corporation of more than 50 years, which gives a hundred percent returns without any risk on the capital. At a time of emotional insecurity when you are longing for financial independence, the amount of Rs.50000 that you receive each month will be a boon to you. This amount is completely yours. Once you cross the age of 65 you will see that there are many so- called-loved ones who fight over your visible assets. But this Rs. 50000 is an invisible asset. You have the sole authority over it. No-one including your children, their spouses or your grandchildren who will definitely be your greatest weakness, will have any right over it.

In case anything happens to you, the amount goes to your wife and so you can rest assured about her secure life too. After your death, your spouse will have the right to continue the pension and after your spouse’s death, the children can use the money to perform the last rites and also to set-up a monument or memorial in your name. Suppose you are 35 at present, then in the year 2026, when you will be 55 you will start receiving annual tax free pension every year till you are 100. In case of death during the annuity receiving period a lump sum amount corresponding to the prevailing risk cover will be paid to your nominee. No premiums are payable from your own fund after the age of 54. Premiums are available for exemption under sec.80CCE of income tax act upto Rs. 100000/- per annum. In the event of any emergency or financial difficulties, there is provision under this plan to provide loan against the insurance policy. The loan is available after 3 years of starting the scheme.

The scheme is flexible and depends on:
1. The amount you are willing to deposit.
2. The number of years you make the deposit.