LIC’S JEEVAN –AKSHAY- VI PLAN NO 189 IMMEDIATE ANNUITY PLAN INTRODUCED ON – 10/09/2007 UIN NO – 512N234V04. W.E.F. 16/5/2012

WITHDRAWN ON-

CO/ACT/2117/4 dt. 7/9/2007, CO/PD/18 dt. 15/5/2012, co/pd/19 dt.18/5/2012 It has been decided to withdraw the earlier Jeevan Akshay plan no 183 w.e.f. 10/9/2007 and introduce New Jeevan Akshay plan no 189 in its place. Annuity rates have improved taking into consideration the growing interest rates. Annuity options are all same. Minimum annuity per month/quarter/half-year is increase. Taking into account the demands from various offices, it has been decided to modify the present provisions under plan 189 as per co/pd/18 dt. 15/5/2012. The provisions are as follows:1) W.e.f. 16/5/2012, The Jeevan Akshay plan no-189 will be renumbered as plan 810. However, as per circular dt. 18/5/2012,ref: co/pd/19, it has been again decided that this plan LIC’s Jeevan Akshay – VI will be continued as plan no- 189 and not plan 810. 2) This plan can be sold online in addition to other existing distribution channels. 3) New annuity option J – Joint life and 100%of annuity to spouse on death of the annuitant with return of purchase price on death of last survivor. This annuity option will be available for new policies completed w.e.f 16/5/2012 along with other existing 6 annuity options. 4) Reduction in minimum age at entry from 40 years to 30 years and increase in maximum age at entry from 79 years to 85 years. 5) Minimum purchase price or first premium increased. For online sale of policies, it will be Rs. 1.5 lakh and for other mode of policies, the same will be Rs. 1 lakh. 6) Slabs of incentives to be added in basic annuity rates for higher purchase price have been modified. 7) Service tax to be collected from the policyholder along with the purchase price. 8) New UIN ( unique Identifications Number ) is allotted.

A) SYNOPSIS OF PLAN  1) Minimum purchase price Rs.50000/- or such amount which may secure a minimum annuity as mentioned below. W.e.f. 16/5/2012, the minimum purchase price will be - For online sale of policies, Rs. 1.5 lakh and for other mode of distribution channels policies, the same will be Rs. 1 lakh. 2) Premium will be single premium and in multiple of Rs.1000/-. However, w.e.f. 16/5/2012, the single premium will be actual one which will be calculated by applying annuity rates for the type and mode of annuity opted by the policyholder sub to minimum amount of single premium . 3) Age at entry Minimum—40 yrs LBD. W.e.f. 16/5/2012- 30 yrs LBD. Maximum—79 yrs LBD. W.e.f. 16/5/2012- 85 yrs LBD

1) 2) 3) 4)

4) Mode of annuity

And Minimum Annuity instalment

Monthly Quarterly Half-Yearly Yearly

Rs 500/- per month Rs.1000/- per quarter Rs.2000/- per half-year Rs.3000/- per year

w.e.f. 16/5/2012, the restriction on minimum annuity amount has been removed. The annuity instalment will be worked out by applying annuity rates for the type and mode of annuity opted by policyholder and purchase price or single premium paid by policyholder.

5) No medical examination is required. Standard age proof will be required under all the annuity options except the option 3) i.e. annuity for life with return of purchase price on death. 6) Policy will not have guaranteed surrender value, paid up value, special surrender value, loan, Double accident benefit. 7) CEIS rebate will be 2% of the purchase price. If any employee takes this policy through online mode of distribution channel , then rebate for online sale of policy by way of increase of 1% in basic annuity rate WILL NOT be available.

B) ANNUITY OPTIONS  1) Following types of Annuity options are available under the policy. One of the option is to be exercised at the time of proposal stage, which is irrecoverable in future. * Code for annuity option A B C D E F G H

Description for annuity option available

Annuity for life. Annuity Guaranteed for 5 years and for life thereafter. Annuity Guaranteed for 10 years and for life thereafter. Annuity Guaranteed for 15 years and for life thereafter. Annuity Guaranteed for 20 years and for life thereafter. Annuity for life with return of purchase price on death. Annuity for life increasing at a simple rate of 3% p.a. Annuity for life with a provision for 50% of the annuity to the spouse of the Annuitant for life on death of the annuitant. I Annuity for life with a provision for 100% of the annuity to the spouse of the Annuitant for life on death of the annuitant. J Joint life and 100%of annuity to spouse on death of the (w.e.f 16/5/2012) annuitant with return of purchase price on death of last survivor * Code for annuity option to be used for creating policy/ Annuity master and not for showing on policy document

2) Annuity rates are different for each option. All annuity rates are on yearly basis payable Mly/Qly/Hly/Yly. 3) In given annuity rates payable per annum for Rs.1000/- purchase price(as given) ,incentive for high purchase price, as an absolute addition are to be added as given below:( Applicable for polices issued from 10/9/2007 to 15/5/2012) MODE OF PURCHASE PRICE(IN RUPEES) ANNUITY 150000 TO 300000 TO 500000 & ABOVE 299999 499999 Yearly 3.00 3.75 4.00 Half-yearly 2.50 3.50 3.75 Quarterly 2.50 3.50 3.75 Monthly 2.00 3.25 3.50 (Applicable for polices issued from 16/5/2012 to MODE ANNUITY

Yearly Half-yearly Quarterly Monthly

OF

)

PURCHASE PRICE(IN RUPEES) 2,50,000 4,99,999 3.75 3.45 3.35 2.90

to 5,00,000 7,49,999 4.00 3.70 3.60 3.50

to 7,50,000 9,99,999 4.30 4.00 3.90 3.80

to 10,00,000 and above 4.35 4.05 3.95 3.90

4) Incentive for Online sale- for policies sold online, a rebate of 1% by way of increase in the basic annuity rate shall be available. Incentive for high purchase price will be added after providing for incentives for online sale. 5) The first instalment of annuity shall be paid 1 year,6 months,3 months, or 1 month after the date of purchase of annuity depending on the mode of annuity payment i.e. yearly, half-yearly, quarterly or monthly. 6) The input advice through electronic media should be forwarded to IPP cell at Zonal office after confirmation of premium received by cheque. 7) The existence certificate is to be submitted by the annuitant once in a year before the policy anniversary & before the release of annuity cheques under all annuity options except annuity option F. and under B,C,D,E , during certain/guaranteed period of 5,10,15,20 years. 8) As per co/crm/754 dt 22/7/2009 our earlier circular ref: CO/Mktg/CRM/535/23 dated 23/06/2005, the Existence Certificate from the Annuitants was called under different annuity options as follows 1) Annuity option A :- Annuity for Life: On yearly basis 2) Annuity option B,C,D,E:- Annuity guaranteed for a period certain of 5, 10, 15, 20 years and life thereafter: On yearly basis after the guaranteed period is over. During guaranteed period no need of the Existence certificate. 3) Annuity option F :- Annuity for life with return of Purchase price/NCO: Existence Certificate after every 3 years. 4) Annuity option G:- Annuity for life increasing at a simple rate of 3% p.a.-on yearly basis 4) Annuity option H :- Annuity for life with a provision for 50% of the annuity to the spouse of the Annuitant for life on death of the annuitant, on yearly basis. 5) Annuity option I:- Annuity for life with a provision for 100% of the annuity to the spouse of the annuitant for life on death of the annuitant, on yearly basis. 6) Annuity option J :- Annuity for joint lifeand 100% of annuity to spouse with return of Purchase price/NCO on death of last survivor: Existence Certificate after every 3 years. It has now been decided to call for existence certificate under annuity option F and J as above, after every 5 years instead of 3 years. For other annuity options like A, B, C, D, E, H, I , existence certificate will be called every year as usual after expiry of guaranteed period is over. 2. Existence certificate due month:As per our present practice, existence certificates are called from annuitants in different months depending upon the policy anniversary or financial year. Now, It has been decided to call for existence certificate only in the month of November of every year. Up to October 2009, existence certificate will be called on monthly basis and will be updated accordingly in IPP masters. From the month of November 2009 where annuities will fall due during the period November 2009 to October 2010, Existence Certificate due date will be updated as ‘November 2010’ irrespective of actual due date of existence certificate and till this period annuity will be released without calling for existence certificate. For existence certificate due month ‘ November 2010’, where existence certificate will be due for the period November 2010 to October 2011, intimations will be forwarded 3 months in advance i.e. August 2010 and will be updated in IPP masters. Likewise, for existence certificate due month November 2011, where existence certificate will be due for the period November 2011 to October 2012, intimations will be forwarded 3 months in advance and IPP master will be updated accordingly and so on. For annuity policies where annuity option F is exercised, Existence certificate due date will be changed to the following November month, after 5 years from the last changed existence certificate due date. e.g. 1) If last existence certificate due date was Aug 2007, then the next EC due date will be November 2012. 2) If last existence certificate due date was November 2006, then the next EC due date will be November 2011.

C) DEATH CLAIM  1) After receipt of death intimation under Jeevan Akshay policy a proper note should be taken against relevant entry in a register of Jeevan akshay policies. 2) Call claim form A(non-early), original policy, death certificate, un-encashed cheques from claimant if annuity is being settled through cheque mode of payment. 3) Intimation about death claim should be sent to IPP/pension cell, Zonal office in proper format along with un-encashed cheques. 4) IPP cell will take proper action in annuity master at their end. After receipt of confirmation, death claim may be settled as follows:OPTION –A On death of annuitant, annuity ceases. No further annuity from date of last paid instalment of annuity is payable. No return of purchase price. No payment of proportionate annuity from date of last annuity paid to date of death. OPTION B,C,D,E On death of annuitant during certain/ guaranteed period(i.e 5,10,15,20 yrs) , further annuity is payable to nominee till the end of the certain period. On death of annuitant after guarantee period, annuity will cease. No refund of purchase price. OPTION F On death of annuitant, annuity ceases & the purchase price is returned to the nominee. No proportionate annuity from date of last annuity to date of death is payable. If nominee is not able to return the annuity cheques after date of death or if annuity by way of ECS is credited to bank A/c after date of death, before settlement of death claim, said amount of annuity will be recovered from purchase price.

OPTION G On death, annuity ceases. No further annuity is payable after last annuity instalment is paid. No return of purchase price. OPTION H Full annuity ceases & 50% of the original annuity is payable to the spouse during his/her life time, if the spouse survives. If the spouse predeceases the annuitant, nothing is payable after the death of annuitant. Kindly, note that 50% of original annuity is not payable to nominee but to spouse only. No return of purchase price. OPTION J  On death of annuitant, branch office will confirm about existence of named spouse. If spouse is alive, the further annuity will be payable to him/her during his/ her life time. Branch will send proper intimation to IPP cell about death of present annuitant and continuation of annuity in favour of spouse. There will be no change in annuity rates. If the spouse is not alive as on date of intimation of death of original annuitant/ policyholder, then the annuity ceases & the purchase price is to be returned to the nominee/ legal heirs. No proportionate annuity from date of last annuity to date of death is payable. If nominee is not able to return the annuity cheques after date of death or if annuity by way of ECS is credited to bank A/c after date of death, before settlement of death claim, said amount of annuity will be recovered from purchase price. If annuity is being paid to named spouse after death of original annuitant, then after receipt of death intimation of named spouse , further annuity will cease and purchase price will be paid to nominee or legal heirs of original annuitant/ life assured.

OPTION I Payment of annuity to original annuitant ceases and 100% of original annuity is payable to the surviving named spouse during his/her life time. If the spouse predeceases the annuitant, nothing is payable after death of the annuitant. No return of purchase price.

5) The amount of annuity is assured throughout the period for which it is payable. 6) Annuity rates under this plan are applicable to deferred annuity policies( where annuity rates are not guaranteed) which vests on or after 10/9/2007. •

THE ANNUITY RATES PROVIDED FOR AGE 21 TO 39 YRS ARE PROVIDED TO PAY ANNUITY TO SPOUSE LIVES UNDER PLAN 122 ON DEATH OF ANNUITANT AND TO HANDICAPPED DEPEDANT UNDER PLAN 136 WHERE THE DATE OF DEATH OF LIFE ASSURED/ANNUITANT IS ON AND AFTER 10/9/2007. THESE ANNUITY RATES ARE NOT TO BE USED FOR NB PURPOSE. W.e.f. 16/5/2012, in view of reducing the minimum age at entry rom 40 years to 30 years, the annuity rates provided for 21 years to 29 years will be used for calculating annuity in case of death claims under plan 122 and 136.

Recovery of annuity paid due to shifting of annuity due date to 1st of the month under Annuity option H and J  Under this plan, we have shifted the due date of pension to 1st of the month as per mode of pension payable. Hence, it will be necessary either to recover or pay the pension taking into account original date of commencement of policy, date of death and original due date of pension. Following example will make the point clear. Under this policy 986135824 Plan = 189, Annuity Amount = 9150/- , Mode of Annuity Payment = Quarterly, Date of Commencement = 18.02.2013, Date of Vesting = 18.02.2013 and Date of Death = 16.09.2015. Therefore, Annuity is Payable up to = 17.08.2015 ( As the Annuitant died on 16.09.2015 and could not complete the quarter 18.08.2015 to 17.11.2015). Therefore, Last installment payable for the quarter = 18-05-2015 to 17-08-2015 But Last installment paid for the quarter

01-06-2015 to 31-08-2015.

Therefore, last installment 1-06-2015 to 30-08-2015 need to be deducted and annuity from 01-06-2015 to 17-08-2015 which means (30 + 31 + 17) = 78 days Annuity need to be added. Therefore, Deduction amount

= 9150.00

Add Amount = {(9150 X 4) / 365} X 78

= 7821.37

Net Deduction = (9150 – 7821.37)

= 1328.63 = 1329/- (app)

D) ASSIGNMENT OF POLICY UNDER THIS PLAN IS NOT ALLOWED. However, change of nomination is allowed.

E) POLICY STAMPING  1) Under annuity options D & E , where certain period is 15 or 20 years, the amount of stamp duty will be based on the total annuity amount payable during the certain period i.e. annuity payable per annum X 15 or 20 years respectively. 2) Under annuity option G, the amount of stamp duty will be based on the annuity amount payable for 12 years i.e 13.98 multiplied by the annuity per annum for first year. 3) Under all other annuity options i.e A,B,C,F,H,I,J- the amount of stamp duty will be based on the total annuity amount payable for a period of 12 years i.e. 12 multiplied by the annuity per annum.

F) COOLING OFF PERIOD  If a policyholder is not satisfied with the terms and conditions of the policy, he may cancel the contract within 15 days from the date of receipt of the policy. The amount to be refunded in case of cancellation under cooling off will be refund of premium after deducting the charges for stamp duty.

G) Service Tax :w.e.f. 16/5/2012, under this plan, the amount of service tax as per the prevailing rates shall be payable by the policyholder along with the purchase price. The rate of service tax will be applicable from time to time. For F.Y 2012-13, the rate will be 3% of single premium + 3% education cess on service tax.

H) SPECIAL SURRENDER VALUE ( AFTER DATE OF VESTING)  allowed for policies issued upto 15/5/2012 Ref: CO/CRM/901/23

May 2, 2013

Re: Revised guidelines for surrender of Immediate and Deferred annuity policiesOn and After vesting This has further reference to our circular dt. 1/12/2012 Ref: CO/CRM/881/23 , regarding withdrawal of Surrender Value facility under LIC’s Jeevan Akshay Plan-189 (modified) and deferred annuity Plans vested w.e.f. 16/05/2012. We have received representations to reconsider the decision of withdrawing surrender value facility under annuity policies (after vesting) on merit of the cases. Taking into account the representations received and new IRDA guidelines issued in respect of pension products; it has been decided in respect of surrender of Immediate and deferred annuity policies as follows:A) Immediate Annuity plans:1. Surrender of policies will be allowed under all Immediate Annuity plans except under LIC’s Jeevan Akshay – VI (Table 189- modified) issued w.e.f. 16/05/2012 and onwards. 2. The surrender value will be allowed under plan nos- 97, 115, 144, 146, 163, 170, 176,183,189-(issued upto 15/5/2012 only) where life assured has exercised annuity option “Annuity for life with return of purchase price on death”. 3. As per provisions of circular dt. 22/5/2003 Ref: CO/ACTL/1876/4, the surrender value under plans 97,115 and 144 will be 100% of the purchase price/ cash option. For policies issued under plan 97, wherein 30% of the purchase price has been paid to annuitant at the end of 7 years from date of commencement, surrender value will be 100% of purchase price less the amount already paid. On receipt of application for surrender of policies under these plans, Branch will send the surrender request after obtaining surrender requirements from policyholder to respective IPP cell for taking surrender action in annuity master.

4. Under other immediate annuity plans like 146,163,170,176,183,189(issued upto 15/5/2012); the surrender value will be calculated as per provisions and surrender value factors given in the letter dt. 7/5/2010 Ref: Actl/ PS issued by Actuarial Dept to Regional Managers ( Actl). The surrender under above plans will be allowed only “on merit” of the case and for genuine reasons only. Copy of the letter issued by Co/Actl to RM-Actl is attached for information. 5. It is to be noted that surrender will be allowed only where the policyholder had opted for annuity option “ F”. please note that surrender will not be allowed if annuity option opted is other than ‘ F”. 6. Surrender under plan 161- Varishtha Pension Bima Yojana ( VPBY) will be allowed for treatment of self or spouse as per circular no CO/Act/1877. The amount of surrender value will be 98% of the purchase price as per letter dt.23/11/2004 Ref: Actl/ PS. B) Deferred Annuity/ Pension plans – on and after vesting :1. Surrender of policies will be allowed in case of Deferred annuity/ pension plans (both linked and non-linked) which have been converted to immediate annuity after vesting with annuity option- F “ Annuity for life with return of NCO/ purchase price on death”. Surrender of the policies will be allowed irrespective of date of vesting. These are the policies where life assured has exercised annuity / pension option and Annuity master has been created at IPP cell. 2. As per provisions of circular dt. 22/5/2003 Ref: CO/ACTL/1876/4, the surrender value under plans 96,116,145 will be 100% of the GIVE amount/ cash option. On receipt of application for surrender of policies under these plans, Branch will send the surrender request after obtaining surrender requirements from policyholder to respective IPP cell for taking surrender action in annuity master. 3. Under other Deferred annuity/ pension plans no-122, 147,148,169,172,181,191 which have been vested and converted into immediate annuity; surrender value will be calculated as per provisions and surrender value factors given in the letter dt. 7/5/2010 ref: Actl/ PS issued by Actuarial Dept to Regional Managers( Actl). The surrender under above plans will be allowed only on merit of the case and for genuine reasons only. 4. It is to be noted that surrender will not be allowed if the policyholder has opted for any annuity option other than “ F”. 5. Under deferred annuity/ pension plans mentioned under item 3 above and under plan 145 where annuity has vested but life assured has not exercised any annuity option and submitted surrender request on and after date of vesting, then surrender of such policies will be allowed. In such cases, it may be presumed that the policyholder has opted for option F:-“ Annuity for life with return of NCO/ purchase price on death” with quarterly mode of annuity payment. The surrender value will be calculated as per provisions and surrender value factors given in the letter dt. 7/5/2010 ref: Actl/PS issued by Actuarial Dept to Regional Managers (Actuarial). The policyholder must be intimated in writing about the amount that will be payable to him and payment will be made on receipt of the duly signed discharge form. Surrender value along with annuity which has fallen due, if any; will be payable as full and final settlement under the policy. Under above type of deferred annuity plans where annuity has vested but not ratified, if policyholder applies for surrender, then Branch should refer first the request of surrender to Divisional office Dispute Redressal Committee or Regional Manager ( CRM) as per amount of surrender value payable under the policy. If competent authority approves the surrender payment, then only Branch should ratify the annuity record with annuity option – F and Quarterly mode of payment. IPP cell will merge the annuity record and then take surrender action. 6. Needless to add that under Deferred annuity/ pension plans, if policyholder submit the surrender request before date of vesting, then same may be processed immediately and surrender value should be settled as per provisions of the respective plan. 7. Under plan 114- LIC’s Jeevan Aadhar, Plan 117- LIC’s Jeevan Sarita, Plan 136- LIC”s Jeevan Vishwas, the surrender on and after vesting of the policy will not be allowed under any circumstances. 8. As per IRDA’s guidelines issued in respect of pension products, surrender value under plan no 803 – LIC’s pension plus and plan no 812- LIC’s New Jeevan Nidhi will not be payable in lump sum at the hands of policyholder but surrender value will be utilized as per policy condition of surrender printed in policy document. Other conditions to be followed for surrender of Immediate and Deferred annuity/ pension policies:1. It has been decided that the competent authority for sanction of surrender value as mentioned above will be Divisional office Dispute Redressal Committee in Division and Regional Manager (CRM) in the zonal office as per financial powers.

2. Surrender of Immediate and deferred annuity policies will be allowed on merits of the case and genuineness of the reason given for surrender. 3. The policyholder should give a written request for surrender of annuity/ pension policy in the servicing Branch office. After receipt of request for surrender, quotation for surrender should be generated through IPP module and consent for surrender amount should be invariably obtained from life assured on the quotation. Then the matter should be referred along with request of life assured which should include the need / reason for surrender of the policy to CRM dept of zonal office for considering the case on merit. 4. If Divisional office Dispute Redressal Committee OR Regional Manager ( CRM) approves the surrender request , then CRM Dept of Division / zonal office should advise IPP cell for taking surrender action in annuity master under advise to Branch. 5. If policyholder is agreeable for accepting the surrender value and Zonal office has approved the surrender request then other requirements like surrender discharge form, policy document and NEFT mandate should be obtained. 6. If annuity is being settled through cheque mode of payment, then annuity cheques already issued and falling due after the date of surrender should be collected from the annuitant and to be forwarded to IPP cell along with surrender request. The cheques should be forwarded to respective IPP cell after affixing ‘cancelled’ stamp across the cheques. 7. Before making surrender payment, Branch should verify the Annuity master for confirming the surrender status of said policy number and then only make the surrender payment. 8. Annuity/ Pension policy once surrendered cannot be reinstated under any circumstances. This fact should be made clear to policyholder while giving the surrender quotation.

Copy of letter issued by CO/ Actuarial Dept revising surrender value factors in respect of Jeevan Akshay plans and Deferred annuity plans CO/ACT/PS DT 7/5/2010 Re : Revision of surrender factors under Jeevan Akshay plans/annuities in payment This is further to our earlier letter Ref : Actl/PS dated 13th January 2007 allowing surrender of policies on merits under Jeevan Akshay plans (Plan Nos. 146,163,170,176 and 183) and deferred annuity plans which become converted to immediate annuities on vesting issued under the option “Annuity for life with return of purchase price on death”. We also provided the method of calculating surrender value and the factors to be used for calculating the same. It has now been decided by the competent authority to extend this provision to the plan Jeevan Akshay VI (Plan No. 189) with the option “Annuity for life with return of purchase price on death”.It has also been decided to revise the factors for calculating surrender value under all these plans. The revised factors are given in the annexure. The revised factors are applicable for calculating surrender value for policies under the following plans having the option “Annuity for life with return of purchase price on death” : 1. New Jeevan Akshay I(Plan No. 146), LIC’s Jeevan Akshay plans II to VI(Plan Nos. 163,170,176,183 & 189). 2. Plans which were issued as deferred annuities but subsequently converted to immediate annuities on vesting with the option “ROC on death” such as New Jeevan Suraksha (plan 147), New Jeevan Dhara (plan 148), Jeevan Nidhi (plan 169), Future plus(plan 172), Market plus(plans 181 & 191) etc. We request you to ensure the following before payment of the surrender value : 1) Surrender may be allowed only under those policies where the annuitant has opted for “Annuity for life with return of purchase price on death”. 2) The policyholder should give a written request to surrender the policy. 3) Surrender is to be allowed on merits, say if the money is required by the annuitant for expenses incurred or to be incurred on his/her medical treatment or for the treatment of his/her spouse. You must be satisfied about the genuineness of the reason given for surrender. 4) In case surrender is to meet emergency medical expenses, documentary proof in support of the illness and the related expenses, are to be called for. 5) The annuity cheques already issued and falling due after the date of payment of surrender value should be collected from the annuitant and cancelled. Similarly, ECS credits after payment of surrender value should not be allowed. 6) Anti-money laundering guidelines should have been complied with by the policyholder at the time of taking the policy. 7) It should be ensured that IPP Cell of the Zonal Office have taken a note in their records regarding surrender of the policy so that no further annuity payments are made under the policy.

8) All other instructions regarding surrender of policies should be adhered to. The surrender value shall be calculated as -----(F1 x Annuity per annum + F2 x Amount payable on death) x F3 OR 95% of the amount payable on death, whichever is lower Where, F1 - Annuity factor for age last birthday at the date of surrender for the mode of annuity payment F2 – Risk factor for age last birthday at the date of surrender F3 – Accumulation factor depending on the period elapsed in completed months from the date of last payment of annuity till the date of surrender. If the said period comes to less than 1 month, it should be treated as 0 month and the factor F3 in such case will have value 1. The factors F1, F2 and F3 are given in Annexure I. We are also enclosing Annexure II illustrating the surrender value calculation. Illustrative Examples ---Surrender of policies under Jeevan Akshay plans (Annuity type “Life annuity with return of purchase price on death of the annuitant”) Please ensure before calculation:• The annuity payments are up to date • The post dated cheques after the date of surrender are collected back for cancellation The Surrender Value calculated shall be the lower of the two methods as given below:1) {F(1)* Annuity per annum + F(2)* Amount payable on death} * F(3) OR 2) 95% of the amount payable on death, whichever is lower. Where, F (1) = annuity factor for age last birthday as on the date of surrender for the mode of annuity payment F (2) = Risk factor for age last birthday at surrender. F (3) = Accumulation factor from the date of last payment of ANNUITY instalment up to the date of surrender calculation (in completed months) For F (1), F (2) and F (3), please refer Annexure I. We are enclosing herewith illustrative examples to explain the method of calculation: 1)

Plan Mode Basic Annuity Purchase Price DOC / Date of Vesting Date of Birth Age at Vesting (lbd) Date of surrender Age as on surrender (lbd) The annuity has been paid up to

189 (Jeevan Akshay VI) Monthly Rs.863/- per month. Rs.1,50,000/15.02.2008 10.12.1963 44 years 25.10.2009 45 years 30.09.2009

Surrender Value = 863*12*11.8152 + 150000*0.0929 = 136293 OR Surrender Value = 95% of Purchase Price = 95% of 150000 = 142500 Therefore, SV payable = Rs.1,36,293/- (lower of the two methods) 2) Plan Mode Basic Annuity Purchase Price DOC / Date of Vesting Date of Birth Age at Vesting (lbd) Date of surrender Age as on surrender (lbd) The annuity has been paid up to

183 (Jeevan Akshay V) Yearly Rs.22860/- per year Rs.3,00,000/10.03.2008 08.11.1929 78 years 10.12.2009 80 years 28.02.2009

Surrender Value = {22860*5.0655 + 300000*0.5461}* 1.05574 = 295214 OR Surrender Value = 95% of Purchase Price = 95% of 300000 = 285000 Therefore, SV payable = Rs.2,85,000/- (lower of the two methods) 3) Plan Mode Basic Annuity Purchase Price DOC / Date of Vesting Date of Birth Age at Vesting (lbd) Date of surrender Age as on surrender (lbd) The annuity has been paid up to

189 (Jeevan Akshay VI) Quarterly Rs.26681/- per quarter Rs.15,00,000/28.06.2009 02.10.1965 43 years 15.06.2010 44 years 30.04.2010

Surrender Value = {26681*4*11.8135 + 1500000*0.0872}* 1.00604 = 1399989 OR Surrender Value= 95% of Purchase Price = 95% of 1500000 = 1425000 Therefore, SV payable = Rs.13,99,989/- (lower of the two methods) 4) Plan Mode Basic Annuity NCO at vesting Purchase Price at Vesting DOC Date of Vesting Date of Birth Age at Vesting (lbd) Date of surrender Age as on surrender (lbd) The annuity has been paid up to

169 (Jeevan Nidhi) converted to T 189 on vesting Half yearly Rs.2181/- per half year Rs.62,500/Rs.62,500/28.11.2004 28.11.2009 11.03.1944 65 years 10.08.2010 66 years 31.05.2010

Surrender Value = {2181*2*8.6348 + 62500*0.3023}* 1.01213 = 57245 OR Surrender Value = 95% of Purchase Price = 95% of 62500 = 59375 Therefore, SV payable = Rs.57,245/- (lower of the two methods) Annexure I Surrender factors under Jeevan Akshay plans/ Deferred Annuities in payment- to be used after date of vesting Factor F1

40

Mode of annuity payment Yearly Half-yearly Quarterl Monthly y 11.7212 11.9712 12.0962 12.1796

41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57

11.6566 11.5879 11.5153 11.4385 11.3569 11.2702 11.1784 11.0815 10.9795 10.8725 10.7605 10.6434 10.5225 10.3976 10.2682 10.1338 9.9941

Age

11.9066 11.8379 11.7653 11.6885 11.6069 11.5202 11.4284 11.3315 11.2295 11.1225 11.0105 10.8934 10.7725 10.6476 10.5182 10.3838 10.2441

12.0316 11.9629 11.8903 11.8135 11.7319 11.6452 11.5534 11.4565 11.3545 11.2475 11.1355 11.0184 10.8975 10.7726 10.6432 10.5088 10.3691

12.1149 12.0462 11.9736 11.8968 11.8152 11.7285 11.6367 11.5398 11.4379 11.3309 11.2188 11.1017 10.9808 10.8559 10.7265 10.5922 10.4524

Factor F2

Factor F3

Age

Duration

40

0.0677

41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57

0.0722 0.0769 0.0819 0.0872 0.0929 0.0989 0.1053 0.1120 0.1191 0.1265 0.1343 0.1425 0.1509 0.1596 0.1686 0.1780 0.1878

(in completed months) 1 1.00604 2 1.01213 3 1.01824 4 1.02440 5 1.03059 6 1.03682 7 1.04309 8 1.04939 9 1.05574 10 1.06212 11 1.06854

58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85

9.8481 9.6957 9.5366 9.3705 9.1979 9.0117 8.8131 8.6036 8.3848 8.1579 7.9246 7.6862 7.4442 7.1998 6.9543 6.7088 6.4643 6.2218 5.9822 5.7461 5.5143 5.2873 5.0655 4.8493 4.6391 4.4351 4.2375 4.0463

10.0981 9.9457 9.7866 9.6205 9.4479 9.2617 9.0631 8.8536 8.6348 8.4079 8.1746 7.9362 7.6942 7.4498 7.2043 6.9588 6.7143 6.4718 6.2322 5.9961 5.7643 5.5373 5.3155 5.0993 4.8891 4.6851 4.4875 4.2963

10.2231 10.3064 10.0707 10.1540 9.9116 9.9949 9.7455 9.8288 9.5729 9.6563 9.3867 9.4700 9.1881 9.2715 8.9786 9.0620 8.7598 8.8431 8.5329 8.6162 8.2996 8.3829 8.0612 8.1446 7.8192 7.9026 7.5748 7.6582 7.3293 7.4127 7.0838 7.1671 6.8393 6.9227 6.5968 6.6802 6.3572 6.4405 6.1211 6.2045 5.8893 5.9726 5.6623 5.7456 5.4405 5.5238 5.2243 5.3077 5.0141 5.0975 4.8101 4.8935 4.6125 4.6958 4.4213 4.5046

58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85

0.1980 0.2088 0.2200 0.2317 0.2440 0.2572 0.2715 0.2865 0.3023 0.3187 0.3356 0.3530 0.3706 0.3885 0.4065 0.4245 0.4425 0.4604 0.4781 0.4956 0.5128 0.5296 0.5461 0.5622 0.5778 0.5931 0.6078 0.6221

LIC’S JEEVAN AKSHAY-VI PLAN 189, ANNUITY RATES PAYABLE FOR LIFE PER ANNUM UNDER ANNUITY OPTION – A FOR RS. 1000 PURCHASE PRICE.

PLAN 189- ANNUITY OPTION -A AGE 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54

70.50 70.60 70.80 70.90 71.00 71.20 71.40 71.50 71.70 71.90 72.10 72.40 72.60 72.90 73.20 73.50 73.90 74.30 74.70 75.10 75.50 76.00 76.60 77.10 77.70 78.40 79.10 79.80 80.60 81.40 82.40 83.30 84.30 85.40

MODE OF ANNUITY , RATES ARE QUOTED ON ANNUAL BASIS YLY HLY QLY MLY 69.20 68.50 68.10 69.30 68.70 68.20 69.40 68.80 68.40 69.60 68.90 68.50 69.70 69.00 68.60 69.80 69.20 68.80 70.00 69.30 68.90 70.20 69.50 69.10 70.40 69.70 69.30 70.60 69.90 69.40 70.80 70.10 69.60 71.00 70.30 69.90 71.20 70.60 70.10 71.50 70.80 70.40 71.80 71.10 70.60 72.10 71.40 70.90 72.40 71.70 71.30 72.80 72.10 71.60 73.20 72.50 72.00 73.60 72.90 72.40 74.00 73.30 72.80 74.50 73.80 73.30 75.00 74.20 73.80 75.50 74.80 74.30 76.10 75.30 74.80 76.70 75.90 75.40 77.40 76.60 76.10 78.10 77.30 76.80 78.90 78.00 77.50 79.70 78.80 78.30 80.60 79.70 79.10 81.50 80.60 80.00 82.40 81.50 80.90 83.50 82.50 81.90

55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85

86.50 87.80 89.10 90.40 91.90 93.50 95.30 97.10 99.20 101.60 104.10 106.90 110.00 113.30 116.90 120.80 125.00 129.50 134.40 139.60 145.10 151.00 157.30 164.10 171.20 178.80 186.90 195.50 204.60 214.30 224.50

84.60 85.70 87.00 88.30 89.70 91.20 92.90 94.70 96.60 98.80 101.30 103.90 106.80 109.90 113.30 117.00 120.90 125.10 129.60 134.50 139.60 145.10 150.90 157.10 163.60 170.60 177.90 185.70 193.90 202.50 211.70

83.60 84.70 85.90 87.20 88.60 90.10 91.70 93.50 95.40 97.50 99.90 102.50 105.30 108.30 111.60 115.20 119.00 123.00 127.40 132.10 137.00 142.30 147.90 153.80 160.10 166.70 173.70 181.10 188.90 197.10 205.80

83.00 84.10 85.30 86.60 87.90 89.40 91.00 92.70 94.60 96.70 99.00 101.50 104.30 107.30 110.50 114.00 117.70 121.70 126.00 130.50 135.30 140.50 145.90 151.70 157.80 164.20 171.00 178.20 185.70 193.70 202.00

IN ADDITION TO ABOVE ANNUITY RATES, INCENTIVE AS SHOWN ABOVE FOR HIGH PURCHASE PRICE SHOULD BE ADDED SEPARATELY.

LIC’S JEEVAN AKSHAY-VI PLAN 189, ANNUITY RATES PAYABLE FOR 5 YEARS CERTAIN AND LIFE THEREAFTER PER ANNUM UNDER ANNUITY OPTION – B FOR RS. 1000 PURCHASE PRICE.

PLAN 189- ANNUITY OPTION -B AGE 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54

70.50 70.60 70.70 70.80 71.00 71.10 71.30 71.50 71.70 71.90 72.10 72.30 72.60 72.90 73.20 73.50 73.80 74.20 74.60 75.00 75.40 75.90 76.40 77.00 77.60 78.20 78.90 79.60 80.30 81.10 82.00 82.90 83.90 84.90

MODE OF ANNUITY , RATES ARE QUOTED ON ANNUAL BASIS YLY HLY QLY MLY 69.20 68.50 68.10 69.30 68.60 68.20 69.40 68.70 68.30 69.50 68.90 68.50 69.70 69.00 68.60 69.80 69.20 68.70 70.00 69.30 68.90 70.10 69.50 69.00 70.30 69.70 69.20 70.50 69.80 69.40 70.70 70.00 69.60 70.90 70.30 69.80 71.20 70.50 70.10 71.50 70.80 70.30 71.70 71.10 70.60 72.00 71.40 70.90 72.40 71.70 71.20 72.70 72.00 71.60 73.10 72.40 71.90 73.50 72.80 72.30 73.90 73.20 72.70 74.40 73.70 73.20 74.90 74.10 73.70 75.40 74.70 74.20 76.00 75.20 74.70 76.60 75.80 75.30 77.20 76.40 75.90 77.90 77.10 76.60 78.60 77.80 77.30 79.40 78.60 78.00 80.20 79.40 78.80 81.10 80.30 79.70 82.10 81.20 80.60 83.00 82.10 81.50

55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85

86.00 87.10 88.30 89.60 91.10 92.60 94.20 96.00 97.90 100.10 102.40 104.90 107.50 110.40 113.40 116.60 120.00 123.50 127.10 130.90 134.80 138.80 143.00 147.10 151.40 155.70 159.90 164.20 168.50 172.70 176.80

84.10 85.20 86.30 87.60 88.90 90.40 92.00 93.70 95.50 97.60 99.80 102.10 104.70 107.40 110.30 113.40 116.60 119.90 123.40 127.10 130.80 134.70 138.60 142.60 146.70 150.80 154.90 159.10 163.20 167.30 171.30

83.10 84.20 85.40 86.60 87.90 89.30 90.90 92.50 94.30 96.30 98.50 100.80 103.30 106.00 108.80 111.80 114.90 118.20 121.60 125.20 128.90 132.60 136.50 140.40 144.40 148.50 152.50 156.60 160.70 164.70 168.60

82.50 83.60 84.70 85.90 87.20 88.60 90.20 91.80 93.60 95.50 97.70 100.00 102.40 105.10 107.80 110.80 113.90 117.10 120.50 124.00 127.60 131.30 135.10 139.00 143.00 147.00 151.00 155.00 159.00 163.00 166.90

IN ADDITION TO ABOVE ANNUITY RATES, INCENTIVE AS SHOWN ABOVE FOR HIGH PURCHASE PRICE SHOULD BE ADDED SEPARATELY.

LIC’S JEEVAN AKSHAY-VI PLAN 189, ANNUITY RATES PAYABLE FOR 10 YEARS CERTAIN AND LIFE THEREAFTER PER ANNUM UNDER ANNUITY OPTION – C FOR RS. 1000 PURCHASE PRICE.

PLAN 189- ANNUITY OPTION -C AGE 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54

70.40 70.50 70.60 70.70 70.90 71.00 71.20 71.40 71.60 71.80 72.00 72.20 72.50 72.70 73.00 73.30 73.60 74.00 74.40 74.80 75.20 75.60 76.10 76.60 77.20 77.70 78.40 79.00 79.70 80.40 81.20 82.00 82.90 83.80

MODE OF ANNUITY , RATES ARE QUOTED ON ANNUAL BASIS YLY HLY QLY MLY 69.10 68.40 68.00 69.20 68.60 68.10 69.30 68.70 68.20 69.40 68.80 68.40 69.60 68.90 68.50 69.70 69.10 68.60 69.90 69.20 68.80 70.00 69.40 69.00 70.20 69.60 69.10 70.40 69.70 69.30 70.60 70.00 69.50 70.80 70.20 69.70 71.10 70.40 70.00 71.30 70.70 70.20 71.60 70.90 70.50 71.90 71.20 70.80 72.20 71.50 71.10 72.60 71.90 71.40 72.90 72.20 71.70 73.30 72.60 72.10 73.70 73.00 72.50 74.10 73.40 72.90 74.60 73.90 73.40 75.10 74.40 73.90 75.60 74.90 74.40 76.20 75.40 74.90 76.80 76.00 75.50 77.40 76.60 76.10 78.10 77.30 76.70 78.80 78.00 77.40 79.50 78.70 78.20 80.30 79.50 78.90 81.10 80.30 79.70 82.00 81.10 80.60

55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85

84.80 85.80 86.90 88.10 89.30 90.60 92.00 93.50 95.10 96.70 98.50 100.30 102.10 104.00 106.00 108.00 109.90 111.90 113.80 115.70 117.50 119.20 120.90 122.50 124.00 125.40 126.60 127.80 128.90 129.90 130.70

82.90 83.90 85.00 86.10 87.30 88.60 89.90 91.30 92.80 94.50 96.10 97.90 99.70 101.60 103.40 105.40 107.30 109.20 111.10 112.90 114.70 116.40 118.10 119.60 121.10 122.50 123.80 125.00 126.10 127.00 127.90

82.10 83.00 84.10 85.20 86.30 87.60 88.90 90.30 91.80 93.40 95.00 96.70 98.50 100.40 102.20 104.10 106.00 107.90 109.70 111.60 113.30 115.10 116.70 118.30 119.70 121.70 122.40 123.60 124.70 125.70 126.60

81.50 82.40 83.50 84.50 85.70 86.90 88.20 89.60 91.10 92.60 94.30 96.00 97.70 99.60 101.40 103.30 105.10 107.00 108.90 110.70 112.40 114.20 115.80 117.40 118.80 120.20 121.50 122.70 123.80 124.80 125.70

IN ADDITION TO ABOVE ANNUITY RATES, INCENTIVE AS SHOWN ABOVE FOR HIGH PURCHASE PRICE SHOULD BE ADDED SEPARATELY.

LIC’S JEEVAN AKSHAY-VI PLAN 189, ANNUITY RATES PAYABLE FOR 15 YEARS CERTAIN AND LIFE THEREAFTER PER ANNUM UNDER ANNUITY OPTION – D FOR RS. 1000 PURCHASE PRICE.

PLAN 189- ANNUITY OPTION -D AGE 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55

70.30 70.40 70.50 70.60 70.80 70.90 71.10 71.30 71.40 71.60 71.80 72.10 72.30 72.50 72.80 73.10 73.40 73.70 74.10 74.40 74.80 75.20 75.70 76.10 76.60 77.10 77.70 78.30 78.90 79.50 80.20 80.90 81.70 82.50 83.30

MODE OF ANNUITY , RATES ARE QUOTED ON ANNUAL BASIS YLY HLY QLY MLY 69.00 68.30 67.90 69.10 68.50 68.00 69.20 68.60 68.20 69.30 68.70 68.30 69.50 68.80 68.40 69.60 69.00 68.50 69.80 69.10 68.70 69.90 69.30 68.80 70.10 69.40 69.00 70.30 69.60 69.20 70.50 69.80 69.40 70.70 70.00 69.60 70.90 70.30 69.80 71.20 70.50 70.10 71.40 70.80 70.30 71.70 71.00 70.60 72.00 71.30 70.90 72.30 71.60 71.20 72.70 72.00 71.50 73.00 72.30 71.80 73.40 72.70 72.20 73.80 73.10 72.60 74.20 73.50 73.00 74.60 73.90 73.40 75.10 74.40 73.90 75.60 74.90 74.40 76.10 75.40 74.90 76.70 75.90 75.40 77.30 76.50 76.00 77.90 77.10 76.60 78.60 77.80 77.20 79.30 78.40 77.90 80.00 79.20 78.60 80.70 79.90 79.40 81.50 80.70 80.10

56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85

84.10 85.00 86.00 86.90 87.90 89.00 90.00 91.10 92.20 93.30 94.30 95.40 96.40 97.40 98.30 99.20 100.10 100.80 101.50 102.20 102.70 103.20 103.70 104.10 104.40 104.70 104.90 105.10 105.30 105.40

82.40 83.20 84.10 85.10 86.10 87.10 88.10 89.10 90.20 91.20 92.30 93.30 94.30 95.30 96.30 97.10 98.00 98.70 99.40 100.10 100.60 101.20 101.60 102.00 102.30 102.60 102.90 103.10 103.30 103.40

81.50 82.40 83.30 84.20 85.10 86.10 87.10 88.20 89.20 90.30 91.30 92.30 93.30 94.30 95.20 96.10 96.90 97.70 98.40 99.00 99.60 100.10 100.60 101.00 101.30 101.60 101.90 102.10 102.30 102.40

80.90 81.80 82.70 83.60 84.50 85.50 86.50 87.50 88.60 89.60 90.70 91.70 92.70 93.60 94.60 95.40 96.30 97.00 97.70 98.40 99.00 99.50 99.90 100.30 100.70 101.00 101.20 101.40 101.60 101.80

IN ADDITION TO ABOVE ANNUITY RATES, INCENTIVE AS SHOWN ABOVE FOR HIGH PURCHASE PRICE SHOULD BE ADDED SEPARATELY.

LIC’S JEEVAN AKSHAY-VI PLAN 189, ANNUITY RATES PAYABLE FOR 20 YEARS CERTAIN AND LIFE THEREAFTER PER ANNUM UNDER ANNUITY OPTION – E FOR RS. 1000 PURCHASE PRICE.

PLAN 189- ANNUITY OPTION - E AGE 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55

MODE OF ANNUITY , RATES ARE QUOTED ON ANNUAL BASIS YLY HLY QLY MLY

71.50 71.70 71.90 72.10 72.30 72.60 72.90 73.10 73.40 73.70 74.10 74.40 74.80 75.20 75.60 76.00 76.50 76.90 77.40 78.00 78.50 79.10 79.70 80.30 80.90 81.50

70.10 70.30 70.50 70.80 71.00 71.20 71.50 71.70 72.00 72.30 72.70 73.00 73.30 73.70 74.10 74.50 75.00 75.40 75.90 76.40 77.00 77.50 78.10 78.70 79.30 79.90

69.50 69.70 69.90 70.10 70.30 70.50 70.80 71.10 71.30 71.60 72.00 72.30 72.60 73.00 73.40 73.80 74.20 74.70 75.20 75.70 76.20 76.70 77.30 77.90 78.50 79.10

69.10 69.20 69.40 69.70 69.90 70.10 70.40 70.60 70.90 71.20 71.50 71.80 72.20 72.50 72.90 73.30 73.80 74.20 74.70 75.20 75.70 76.20 76.80 77.30 77.90 78.50

56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85

82.20 82.80 83.50 84.10 84.80 85.40 86.00 86.60 87.20 87.80 88.30 88.80 89.20 89.60 89.90 90.30 90.50 90.80 91.00 91.10 91.30 91.40 91.50 91.60 91.60 91.70 91.70 91.70 91.70 91.80

80.50 81.10 81.80 82.40 83.00 83.70 84.30 84.90 85.50 86.00 86.50 87.00 87.40 87.80 88.20 88.50 88.80 89.00 89.20 89.40 89.60 89.70 89.80 89.80 89.90 90.00 90.00 90.00 90.00 90.10

79.70 80.30 80.90 81.60 82.20 82.80 83.40 84.00 84.60 85.10 85.70 86.10 86.60 87.00 87.30 87.70 87.90 88.20 88.40 88.60 88.70 88.80 88.90 89.00 89.10 89.10 89.20 89.20 89.20 89.20

79.10 79.80 80.40 81.00 81.60 82.30 82.90 83.50 84.00 84.60 85.10 85.60 86.00 86.40 86.80 87.10 87.40 87.60 87.80 88.00 88.10 88.30 88.40 88.50 88.50 88.60 88.60 88.60 88.70 88.70

IN ADDITION TO ABOVE ANNUITY RATES, INCENTIVE AS SHOWN ABOVE FOR HIGH PURCHASE PRICE SHOULD BE ADDED SEPARATELY.

LIC’S JEEVAN AKSHAY-VI PLAN 189, ANNUITY RATES PAYABLE FOR LIFE WITH RETURN OF PURCHASE PRICE ON DEATH OF THE ANNUITANT UNDER ANNUITY OPTION – F FOR RS. 1000 PURCHASE PRICE.

PLAN 189- ANNUITY OPTION AGE 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54

68.70 68.70 68.70 68.80 68.80 68.80 68.80 68.90 68.90 68.90 69.00 69.00 69.00 69.10 69.10 69.10 69.20 69.20 69.30 69.30 69.40 69.50 69.50 69.60 69.60 69.70 69.80 69.90 69.90 70.00 70.10 70.20 70.30 70.40

F

MODE OF ANNUITY , RATES ARE QUOTED ON ANNUAL BASIS YLY HLY QLY MLY 67.40 66.80 66.40 67.40 66.80 66.40 67.40 66.80 66.40 67.50 66.80 66.40 67.50 66.80 66.40 67.50 66.90 66.50 67.50 66.90 66.50 67.50 66.90 66.50 67.60 66.90 66.50 67.60 67.00 66.50 67.60 67.00 66.60 67.70 67.00 66.60 67.70 67.00 66.60 67.70 67.10 66.60 67.80 67.10 66.70 67.80 67.10 66.70 67.80 67.20 66.70 67.90 67.20 66.80 67.90 67.20 66.80 68.00 67.30 66.80 68.00 67.30 66.90 68.10 67.40 66.90 68.10 67.40 67.00 68.20 67.50 67.00 68.20 67.50 67.10 68.30 67.60 67.10 68.30 67.60 67.10 68.40 67.70 67.20 68.40 67.70 67.20 68.50 67.80 67.30 68.60 67.80 67.30 68.60 67.90 67.40 68.70 68.00 67.50 68.80 68.00 67.50

55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85

70.50 70.60 70.70 70.80 70.90 71.10 71.20 71.30 71.50 71.60 71.80 71.90 72.10 72.30 72.40 72.60 72.80 73.00 73.20 73.40 73.60 73.80 74.10 74.30 74.60 74.80 75.10 75.40 75.70 76.00 76.30

68.90 69.00 69.00 69.10 69.20 69.30 69.40 69.50 69.60 69.70 69.80 69.90 70.00 70.10 70.20 70.30 70.40 70.50 70.60 70.70 70.80 70.90 71.00 71.20 71.30 71.40 71.50 71.60 71.70 71.80 71.90

68.10 68.20 68.20 68.30 68.40 68.50 68.50 68.60 68.70 68.80 68.90 68.90 69.00 69.10 69.20 69.20 69.30 69.40 69.40 69.50 69.50 69.60 69.60 69.70 69.70 69.80 69.80 69.80 69.90 69.90 69.90

67.60 67.60 67.70 67.80 67.80 67.90 68.00 68.00 68.10 68.20 68.20 68.30 68.40 68.40 68.50 68.50 68.60 68.60 68.60 68.70 68.70 68.70 68.70 68.70 68.70 68.70 68.70 68.70 68.70 68.70 68.70

IN ADDITION TO ABOVE ANNUITY RATES, INCENTIVE AS SHOWN ABOVE FOR HIGH PURCHASE PRICE SHOULD BE ADDED SEPARATELY LIC’S JEEVAN AKSHAY-VI PLAN 189, ANNUITY RATES PAYABLE FOR IMMEDIATE ANNUITY INCREASING AT SIMPLE RATE 3% PER ANNUM FOR LIFE FOR RS. 1000 PURCHASE PRICE.

PLAN 189- ANNUITY OPTION AGE 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55

G

MODE OF ANNUITY , RATES ARE QUOTED ON ANNUAL BASIS YLY HLY QLY MLY

52.50 52.80 53.00 53.30 53.70 54.00 54.40 54.80 55.20 55.60 56.10 56.60 57.10 57.70 58.30 58.90 59.60 60.30 61.10 61.90 62.80 63.80 64.80 65.80 66.90 68.10

51.80 52.00 52.30 52.60 52.90 53.20 53.60 54.00 54.40 54.80 55.20 55.70 56.20 56.80 57.40 58.00 58.70 59.40 60.10 60.90 61.80 62.70 63.60 64.70 65.70 66.90

51.40 51.60 51.90 52.20 52.50 52.80 53.20 53.60 54.00 54.40 54.80 55.30 55.80 56.40 56.90 57.50 58.20 58.90 59.60 60.40 61.30 62.10 63.10 64.10 65.10 66.30

51.20 51.40 51.70 52.00 52.30 52.60 52.90 53.30 53.70 54.10 54.60 55.00 55.50 56.10 56.60 57.20 57.90 58.60 59.30 60.10 60.90 61.80 62.70 63.70 64.80 65.90

56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85

69.30 70.70 72.10 73.60 75.30 77.00 78.90 81.00 83.30 85.90 88.60 91.60 94.90 98.40 102.20 106.30 110.70 115.50 120.50 125.90 131.70 137.90 144.50 151.50 158.90 166.80 175.30 184.20 193.70 203.80

68.10 69.30 70.70 72.20 73.80 75.40 77.30 79.30 81.50 83.90 86.50 89.40 92.50 95.90 99.50 103.40 107.50 112.00 116.70 121.80 127.20 132.90 139.00 145.50 152.40 159.60 167.30 175.50 184.10 193.10

67.40 68.70 70.00 71.50 73.00 74.70 76.50 78.40 80.60 83.00 85.50 88.30 91.40 94.60 98.20 101.90 106.00 110.30 114.90 119.80 125.00 130.60 136.40 142.70 149.30 156.20 163.60 171.40 179.60 188.20

67.00 68.30 69.60 71.00 72.50 74.20 75.90 77.90 80.00 82.30 84.90 87.60 90.60 93.80 97.30 101.00 105.00 109.20 113.70 118.50 123.60 129.00 134.80 140.90 147.30 154.10 161.20 168.80 176.70 185.10

IN ADDITION TO ABOVE ANNUITY RATES, INCENTIVE AS SHOWN ABOVE FOR HIGH PURCHASE PRICE SHOULD BE ADDED SEPARATELY LIC’S JEEVAN AKSHAY-VI PLAN 189, ANNUITY RATES PAYABLE FOR JOINT LIFE AND LAST SURVIVOR ANNUITY PER ANNUM WITH REDUCING TO 50% PAYABLE TO SPOUSE ON THE DEATH OF ANNUITANT ANNUITY OPTION – FOR RS. 1000 PURCHASE PRICE.

PLAN 189- ANNUITY OPTION AGE 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55

H

MODE OF ANNUITY , RATES ARE QUOTED ON ANNUAL BASIS YLY HLY QLY MLY

70.80 71.00 71.20 71.30 71.50 71.70 72.00 72.20 72.50 72.80 73.10 73.40 73.80 74.10 74.50 75.00 75.40 75.90 76.50 77.00 77.60 78.30 79.00 79.70 80.50 81.30

69.50 69.60 69.80 70.00 70.20 70.40 70.60 70.80 71.10 71.40 71.70 72.00 72.30 72.70 73.10 73.50 73.90 74.40 74.90 75.40 76.00 76.70 77.30 78.00 78.80 79.60

68.80 69.00 69.10 69.30 69.50 69.70 69.90 70.20 70.40 70.70 71.00 71.30 71.60 72.00 72.30 72.70 73.20 73.70 74.20 74.70 75.30 75.90 76.50 77.20 77.90 78.70

68.40 68.60 68.70 68.90 69.10 69.30 69.50 69.70 70.00 70.20 70.50 70.80 71.20 71.50 71.90 72.30 72.70 73.20 73.70 74.20 74.70 75.30 76.00 76.70 77.40 78.20

56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85

82.20 83.20 84.20 85.30 86.40 87.70 89.10 90.60 92.20 94.00 95.90 98.10 100.40 102.90 105.60 108.50 111.60 115.00 118.60 122.40 126.60 131.00 135.70 140.70 146.00 151.70 157.70 164.10 170.90 178.10

80.40 81.30 82.30 83.30 84.50 85.70 87.00 88.40 90.00 91.70 93.50 95.50 97.70 100.10 102.60 105.40 108.30 111.50 114.90 118.50 122.40 126.50 130.90 135.50 140.50 145.70 151.30 157.10 163.30 169.90

79.60 80.40 81.40 82.40 83.50 84.70 86.00 87.30 88.90 90.50 92.30 94.30 96.40 98.70 101.20 103.90 106.80 109.80 113.10 116.60 120.40 124.40 128.60 133.10 137.90 142.90 148.20 153.90 159.80 166.00

79.00 79.90 80.80 81.80 82.90 84.00 85.30 86.70 88.20 89.80 91.60 93.50 95.60 97.90 100.30 102.90 105.70 108.80 112.00 115.40 119.10 123.00 127.10 131.50 136.20 141.10 146.30 151.70 157.50 163.60

IN ADDITION TO ABOVE ANNUITY RATES, INCENTIVE AS SHOWN ABOVE FOR HIGH PURCHASE PRICE SHOULD BE ADDED SEPARATELY LIC’S JEEVAN AKSHAY-VI PLAN 189, ANNUITY RATES PAYABLE FOR JOINT LIFE AND LAST SURVIVOR ANNUITY PER ANNUM WITH 100% OF ANNUITY PAYABLE TO SPOUSE ON THE DEATH OF ANNUITANT ANNUITY OPTION –FOR RS. 1000 PURCHASE PRICE. without return of cash option

PLAN 189- ANNUITY OPTION - I AGE 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55

MODE OF ANNUITY , RATES ARE QUOTED ON ANNUAL BASIS YLY HLY QLY MLY

69.70 69.80 70.00 70.10 70.20 70.30 70.50 70.60 70.80 71.00 71.20 71.40 71.60 71.90 72.10 72.40 72.70 73.00 73.40 73.80 74.20 74.60 75.10 75.60 76.10 76.70

68.50 68.50 68.70 68.80 68.90 69.00 69.20 69.30 69.50 69.70 69.80 70.00 70.30 70.50 70.70 71.00 71.30 71.60 71.90 72.30 72.70 73.10 73.60 74.00 74.60 75.10

67.80 67.90 68.00 68.10 68.30 68.40 68.50 68.70 68.80 69.00 69.20 69.40 69.60 69.80 70.10 70.30 70.60 70.90 71.20 71.60 72.00 72.40 72.80 73.30 73.80 74.40

67.40 67.50 67.60 67.70 67.80 68.00 68.10 68.20 68.40 68.60 68.80 68.90 69.20 69.40 69.60 69.90 70.20 70.50 70.80 71.10 71.50 71.90 72.40 72.80 73.30 73.90

56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85

77.30 78.00 78.70 79.50 80.30 81.30 82.20 83.30 84.40 85.70 87.00 88.50 90.10 91.80 93.70 95.80 98.00 100.50 103.10 105.90 108.90 112.20 115.70 119.40 123.40 127.70 132.20 137.00 142.10 147.50

75.70 76.40 77.10 77.80 78.60 79.50 80.40 81.40 82.50 83.70 85.00 86.40 87.90 89.60 91.40 93.40 95.50 97.80 100.30 103.00 105.80 108.90 112.20 115.70 119.40 123.40 127.60 132.10 136.80 141.90

75.00 75.60 76.30 77.00 77.80 78.70 79.60 80.60 81.60 82.80 84.00 85.40 86.90 88.50 90.30 92.20 94.30 96.50 98.90 101.50 104.30 107.30 110.50 113.90 117.50 121.40 125.40 129.80 134.30 139.20

74.50 75.10 75.80 76.50 77.30 78.10 79.00 80.00 81.00 82.20 83.40 84.80 86.20 87.80 89.60 91.40 93.50 95.70 98.10 100.60 103.30 106.30 109.40 112.70 116.30 120.00 124.00 128.30 132.70 137.40

IN ADDITION TO ABOVE ANNUITY RATES, INCENTIVE AS SHOWN ABOVE FOR HIGH PURCHASE PRICE SHOULD BE ADDED SEPARATELY

LIC’S JEEVAN AKSHAY-VI PLAN 189, ANNUITY RATES FOR LIFE WITH PROVISION FOR 100%OF ANNUITY PAYABLE TO SPOUSE ON THE DEATH OF ANNUITANT WITH RETURN OF PURCHASE PRICE ON THE DEATH OF LAST SURVIVOR FOR RS. 1000 PURCHASE PRICE.

PLAN 189- ANNUITY OPTION - J AGE 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54

MODE OF ANNUITY , RATES ARE QUOTED ON ANNUAL BASIS YLY HLY QLY MLY

68.60 68.60 68.70 68.70 68.70 68.70 68.80 68.80 68.80 68.90 68.90 68.90 69.00 69.00 69.00 69.10 69.10 69.20 69.20 69.30 69.30 69.40 69.50 69.50 69.60

67.40 67.40 67.40 67.40 67.40 67.50 67.50 67.50 67.50 67.60 67.60 67.60 67.70 67.70 67.70 67.80 67.80 67.80 67.90 67.90 68.00 68.00 68.10 68.20 68.20

66.70 66.80 66.80 66.80 66.80 66.80 66.90 66.90 66.90 66.90 67.00 67.00 67.00 67.00 67.10 67.10 67.10 67.20 67.20 67.30 67.30 67.40 67.40 67.50 67.50

66.30 66.30 66.40 66.40 66.40 66.40 66.40 66.50 66.50 66.50 66.50 66.60 66.60 66.60 66.70 66.70 66.70 66.80 66.80 66.80 66.90 66.90 67.00 67.00 67.10

55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85

69.70 69.80 69.80 69.90 70.00 70.10 70.20 70.30 70.40 70.50 70.70 70.80 70.90 71.00 71.20 71.30 71.50 71.60 71.80 71.90 72.10 72.30 72.40 72.60 72.80 72.90 73.10 73.30 73.50 73.70 73.90

68.30 68.30 68.40 68.50 68.50 68.60 68.70 68.80 68.90 69.00 69.00 69.10 69.20 69.30 69.50 69.60 69.70 69.80 69.90 70.00 70.10 70.20 70.30 70.40 70.50 70.60 70.70 70.80 70.90 71.00 71.00

67.60 67.60 67.70 67.80 67.80 67.90 68.00 68.00 68.10 68.20 68.30 68.40 68.40 68.50 68.60 68.70 68.80 68.90 69.00 69.00 69.10 69.20 69.30 69.30 69.40 69.50 69.50 69.60 69.60 69.70 69.70

67.10 67.20 67.20 67.30 67.30 67.40 67.50 67.50 67.60 67.70 67.80 67.80 67.90 68.00 68.10 68.10 68.20 68.30 68.40 68.40 68.50 68.50 68.60 68.70 68.70 68.70 68.80 68.80 68.80 68.80 68.80

IN ADDITION TO ABOVE ANNUITY RATES, INCENTIVE AS SHOWN ABOVE FOR HIGH PURCHASE PRICE SHOULD BE ADDED SEPARATELY

(policy document of plan 189 to be issued from 16/5/2012 and onwards) LIFE INSURANCE CORPORATION OF INDIA (ESTABLISHED BY THE LIFE INSURANCE CORPORATION ACT, 1956) LIC’S JEEVAN AKSHAY-VI (UIN: 512N234V04) Whereas the LIFE INSURANCE CORPORATION OF INDIA (hereinafter called “the Corporation”) has received a Proposal and Declaration for the purchase of an Immediate Annuity under the “LIC’s Jeevan Akshay-VI Plan” and the said Proposal and Declaration with the statements contained and referred to therein, which the Proposer named in the Schedule referred to herein below has agreed shall be and are hereby declared to be the basis of this Annuity Contract and has received the purchase price for an Annuity amount and on the terms stated in the said Schedule. NOW THIS POLICY WITNESSETH THAT IN CONSIDERATION OF THE PURCHASE PRICE PAID, THE CORPORATION WILL PAY EITHER AT ITS OFFICE WHERE THIS POLICY IS SERVICED OR AT SOME OF ITS OTHER OFFICE THE ANNUITY AND PURCHASE PRICE (IF PAYABLE) AS SPECIFIED IN THE SAID SCHEDULE, BUT WITHOUT INTEREST, TO THE PERSON/PERSONS TO WHOM THE SAME IS / ARE THEREIN EXPRESSED TO BE PAYABLE UPON PROOF TO THE SATISFACTION OF THE CORPORATION BEING FURNISHED, IN RESPECT OF EACH INSTALMENT, THAT THE INSTALMENT IN QUESTION HAS BECOME PAYABLE AND ALSO IN RESPECT OF THE HAPPENING OF THE EVENT ON WHICH THE PURCHASE PRICE IS TO BECOME PAYABLE IN TERMS OF THE SAID SCHEDULE, AND THE TITLE OF THE PERSON/PERSONS CLAIMING TO RECEIVE THE INSTALMENT / PURCHASE PRICE. BUT WHERE THE ANNUITY CEASES OR DETERMINES ON THE DEATH OF THE ANNUITANT, NO PART OF THE SAID ANNUITY SHALL BE PAYABLE OR PAID FOR SUCH TIME AS MAY ELAPSE BETWEEN THE DATE OF PAYMENT IMMEDIATELY PRECEDING THE DEATH OF ANNUITANT AND THE DAY OF HIS/HER DEATH, THE SUBSISTENCE OF LIFE OF THE ANNUITANT AT TWELVE O’CLOCK ON THE DAY ON WHICH THE SAID ANNUITY FALLS DUE BEING DULY CERTIFIED FROM TIME TO TIME IN SUCH MANNER AS THE CORPORATION MAY REQUIRE. AND IT IS HEREBY DECLARED THAT THIS POLICY SHALL BE SUBJECT TO THE CONDITIONS AND PRIVILEGES PRINTED ON THE BACK HEREOF, AND THAT THE SCHEDULE HERETO AND EVERY ENDORSEMENT PLACED ON THE POLICY BY THE CORPORATION SHALL BE DEEMED PART OF THE POLICY.

SCHEDULE

DIVISIONAL OFFICE:

BRANCH OFFICE: PLAN NO.:

POLICY NO.:

AMOUNT OF ANNUITY INSTALMENT: (RS.)

PURCHASE PRICE: (RS.)

DATE OF COMMENCEMENT: NAME AND ADDRESS OF ANNUITANT :

PROPOSAL NO. : DATE OF PROPOSAL: AGE OF THE ANNUITANT : DATE OF BIRTH : WHETHER AGE ADMITTED : MODE OF PAYMENT OF ANNUITY: DATE OF 1ST ANNUITY PAYMENT: DUE DATE : NOMINEE (UNDER SECTION 39 OF THE NAME OF SPOUSE: INSURANCE ACT, 1938) OF ANNUITANT AND RELATIONSHIP: IF NOMINEE IS A MINOR, THE NAME OF THE APPOINTEE: TYPE OF ANNUITY: BENEFITS PAYABLE AND EVENTS ON THE HAPPENING OF WHICH THEY ARE PAYABLE: DETAILS MENTIONED OVERLEAF.

AS PER

IN WITNESS WHEREOF THESE PRESENTS HAVE BEEN STAMPED AND SIGNED ON BEHALF OF THE CORPORATION AT THE ABOVE-MENTIONED BRANCH OFFICE WHOSE ADDRESS IS GIVEN BELOW AND TO WHICH ALL COMMUNICATIONS RELATING TO THE POLICY SHOULD BE ADDRESSED: DATE: EXAMINED BY: FORM NO.: MANAGER AGENCY CODE

__________________ _____ P. CHIEF/SR./BRANCH

AGENCY NAME AGENT’S MOBILE NUMBER/ LANDLINE NUMBER ENEFITS PAYABLE AND EVENTS ON THE HAPPENING OF WHICH THEY ARE PAYABLE:

TYPE OF ANNUITY

TO WHOM ANNUITY PAYABLE

EVENT ON HAPPENING OF WHICH ANNUITY CEASE OR DETERMINES

TO THE ANNUITANT. • ANNUITY FOR LIFE • ANNUITY WITH RETURN OF •

ON

DEATH ANNUITANT

OF

THE

PURCHASE PRICE ANNUITY FOR LIFE WITH INCREASING AT A SIMPLE RATE OF 3% P.A.

DEATH OF THE • ANNUITY GUARANTEED FOR TO THE ANNUITANT. IF THE ON 5,10,15,20 YEARS AND FOR DEATH OF THE ANNUITANT ANNUITANT OR ON EXPIRY LIFE THEREAFTER

OCCURS DURING THE GUARANTEED PERIOD, ANNUITY PAYABLE TO THE NOMINEE.

OF THE GUARANTEED PERIOD WHICHEVER IS LATER.

• ANNUITY FOR LIFE WITH A TO THE ANNUITANT AND ON ON DEATH OF THE LAST PROVISION FOR 50% / 100% OF DEATH OF THE ANNUITANT TO SURVIVOR. THE ANNUITY TO THE SPOUSE THE SURVIVING NAMED SPOUSE. ON DEATH OF THE ANNUITANT. • ANNUITY FOR LIFE WITH A PROVISION FOR 100% OF THE ANNUITY TO THE SPOUSE ON DEATH OF THE ANNUITANT WITH RETURN OF PURCHASE PRICE ON DEATH OF LAST SURVIVOR.

TO WHOM THE PURCHASE PRICE OR ANNUITY FOR THE GUARANTEED PERIOD, IF ANY, SUBSEQUENT TO THE DEATH OF THE ANNUITANT IS PAYABLE WHEREVER APPLICABLE.

TO THE ANNUITANT’S NOMINEE OR TO THE PROVING EXECUTORS OR ADMINISTRATORS OR OTHER LEGAL REPRESENTATIVES OF THE ANNUITANT WHO SHOULD TAKE OUT REPRESENTATION TO HIS / HER ESTATE OR LIMITED TO THE MONIES PAYABLE UNDER THIS POLICY FROM ANY COURT OF ANY STATE OR TERRITORY OF THE UNION OF INDIA

CONDITIONS AND PRIVILEGES WITHIN REFERRED TO: 1. Forfeiture in certain events : In case any condition herein contained or endorsed hereon shall be contravened, or in case it shall hereafter appear that any untrue or incorrect averment is contained in the proposal and declaration herein mentioned, or in the statements referred to therein, have not been truly and fairly stated or that any material information has been withheld, then and in every such case but subject to the provisions of Section 45 of the Insurance Act, 1938, wherever applicable, this policy shall be void, and all claims to any benefit, in virtue hereof shall cease and determine and all moneys that have been paid in consequence hereof shall belong to the Corporation, excepting always in so far as relief is provided in terms of the privileges herein contained or may be lawfully granted by the Corporation. 2. Claim: The amounts due under this policy are payable at the office of the Corporation where this policy is serviced; but the Corporation has absolute discretion to fix, at any time, any alternative place of payment. 3. Service Tax: Service tax, if any, shall be as per the Service Tax Laws and the rate of service tax as applicable from time to time. The amount of service tax as per the prevailing rates shall be payable by the policyholder along with the purchase price. 4. Surrender: The policy shall not acquire any surrender value. 5. Loan: No loan is payable under this policy. 6. Nomination: Notice of change of nomination should be submitted for registration to the office of the Corporation where this policy is serviced. In registering a nomination, the Corporation does not accept any responsibility or express any opinion as to its validity or legal effect.

7. Assignment: No assignment is allowed under this policy. 8. Normal requirements for benefit payable on death of the annuitant: The normal documents which the claimants shall submit while lodging the claim in case of death of the Annuitant shall be the claim form, as prescribed by the corporation, accompanied with original policy document, proof of title, proof of death, whichever is applicable, to the satisfaction of the Corporation. If the age is not admitted under the policy, the proof of age of the Annuitant shall also be submitted. This condition applies in case the option exercised is for (i) a guaranteed period and death of the annuitant takes place before expiry of the guaranteed period; (ii) annuity for life with return of purchase price on death of annuitant; (iii) annuity for life with a provision of 50% / 100% of the annuity to spouse for life on death of the annuitant,(iv)annuity for life with a provision of 100% of the annuity to spouse on death of the annuitant with return of purchase price on death of last survivor. 9. Cooling off period: If you are not satisfied with the “Terms and Conditions” of the policy, you may return the policy to us within 15 days from the date of receipt of the Policy Bond. On receipt of the policy we shall cancel the same and the amount of premium deposited by you shall be refunded to you after deducting the charges for stamp duty. Section 45 Of Insurance Act 1938 : No policy of life insurance shall after the expiry of two years from the date on which it was effected, be called in question by an insurer on the ground that a statement made in the proposal for insurance or in any report of a medical officer, or referee, or friend of the insured, or in any other document leading to the issue of the policy, was inaccurate or false, unless the insurer shows that such statement was on a material matter or suppressed facts which it was material to disclose and that it was fraudulently made by the policyholder and that the policyholder knew at the time of making it that the statement was false or that it suppressed facts which it was material to disclose. Provided that nothing in this section shall prevent the insurer from calling for proof of age at any time if he is entitled to do so, and no policy shall be deemed to be called in question merely because the terms of the policy are adjusted on subsequent proof that the age of the life assured was incorrectly stated in the proposal. NOTE:

In case you have any complaint/grievance, you may approach Grievance Redressal Officer/Ombudsman whose address is as under: ADDRESS OF GRIEVANCE REDRESSAL OFFICER

ADDRESS OF OMBUDSMAN

Note: In case of dispute in respect of interpretation of these terms and conditions and special provisions/conditions the English version shall stand valid. YOU ARE REQUESTED TO EXAMINE THIS POLICY, AND IF ANY MISTAKE BE FOUND THEREIN, RETURN IT IMMEDIATELY FOR CORRECTION.