Maturity Claims
Endowment Plans – Table Nos. 14 & 48: The Sum Assured along with the vested Bonus is paid to the policyholder on the date of maturity of the policy.

Money back Plans – Table Nos. 74, 75, & 93: The final instalment of the survival benefit is paid to the policyholder along with the vested bonuses.

Whole Life Plans – Table Nos. 2, 5 & 28: By definition, a whole life policy bears no maturity date. Sum Assured along with bonuses are payable only on the life assured’s death. However, LICI has made a concession to its valued whole life policyholders; A maturity value is payable on LICI’s whole life policies provided the policies run at least 40 years and the assured has crossed 80 years of age. Payment of maturity value terminates the contract of whole life policy.

Smart Life Policies (Table Nos. 134 & 135): The sum assured along with the guaranteed additions is paid to the policyholder on the date of maturity of the policy.

Aspire Children’s Plans (Table Nos. 601, 602 & 603): The final instalment of the survival benefit/ educational benefit is paid to the policyholder – along with the vested bonuses – on the policy anniversary falling after the child’s attainment of his or her 20th birthday.

Requirements:
1.
Discharge Voucher form – completed, signed and witnessed. 
2. Original Policy document to be returned to LICI.

IMPORTANT: If the policyholder does not receive his discharge voucher at least one month before the maturity date, he or she must contact LICI office.
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