Guaranteed Investment Plan – Plan No. 267


Guaranteed Investment Plan is a Single Premium, Guaranteed Return, Non-linked, saving plan. It provides financial protection against death during the policy term with provision of One-year additional guaranteed addition. On survival to the end of the term, the policy provides guaranteed lump sum amount at Maturity after 5 Year. An ideal plan for those looking for guaranteed return in USD for short term need.




Death Benefits

In the event of unfortunate death of the Life Assured during the term of the policy, Basic Sum Assured accrued Guaranteed Addition on Basic Sum Assured along with one additional years’ Guaranteed Addition on the Basic Sum Assured will be paid to the nominee/beneficiary. The Policy will terminate upon such payment of Death Benefit.

Maturity Benefits

The Basic Sum Assured and Guaranteed Additions on the Basic Sum Assured are payable in lump sum to the policyholder on survival to the end of the policy term.

Guaranteed Addition

Guaranteed Additions accrue on completion of every policy year at a rate of USD 40 per annum per thousand on Basic Sum Assured.



Attribute Minimum limit Maximum limit
Sum Assured USD 15,000 No Limit, subject to underwriting limits as per company’s policy.
Age Entry 13 years ( completed) 70 years ( nearer birthday)
Age at Maturity 75 years ( nearer birthday)
Term 5 Years
Premium Paying Term Single Premium



A Single premium is payable at the start of the Term. Premiums are payable directly to the Company by an acceptable method in advance and are as set out in the policy schedule.





The policy will acquire a surrender value after completion of one full policy year. The minimum Guaranteed Surrender Value is 95% of the Single Premium paid excluding any extra premiums.

However, Special Surrender Value as mentioned in the Policy Bond may be paid if it is more favorable to the Policyholder.

The special Surrender Value is as follows:


Policy Year Special Surrender Value as a percentage of Single premium & Top Up Premium  (excluding any taxes and extra premium)
2 102% of Single Premium & Top Up Premium
3 106% of Single Premium & Top Up Premium
4 110% of Single Premium & Top Up Premium
5 115% of Single Premium & Top Up Premium


On surrender, the higher of Guaranteed Surrender Value and Special Surrender Value shall be payable. Special Surrender Value scale may be changed depending upon the future experience of the Company.



Provided the policy has acquired surrender value, the Life Assured may obtain a loan up to 80% of the Surrender Value of the policy subject to production of satisfactory title to the policy and satisfactory assignment of the policy to the Company.  The rate of interest and other terms and conditions of granting loan will be as determined by the Company at the time of granting the loan.

The rate of interest is subject to change from time to time by the company.

A policy shall be foreclosed if the loan and interest outstanding exceeds the Surrender Value.



All aspects of underwriting will be as per the underwriting policy of the company.



Insurance levy/VAT or any other taxes levied by the Government Authorities will be in addition to the premiums mentioned.



If you are not satisfied with the terms and conditions of the policy, you may return the policy document to the Company within 30 days from the date of receipt of policy document stating the reason for your objection. The Company shall cancel the policy document and refund the amount of premium paid after deducting the proportionate risk premium for the period on cover and the expenses incurred by the company on medical examination of the life proposed and policy preparation charges.




This policy shall be void if the Life Assured unfortunately commits suicide (whether sane or insane at the time) before the expiry of one year from the date of this policy except to the extent of a third party’s bonafide beneficial interest acquired in the policy for valuable consideration of which notice has been given in writing to the office to which premiums under this policy were paid last, at least one calendar month prior to the death.



For making a claim you should contact LIC International or your consultant will also be able to help you in making a claim.

  • The person making a claim should inform us as soon as possible.
  • In the event of a claim under the policy we may need to see the relevant life insured’s medical records. You will be required to supply this information at your own expense.
  • Full detail on how to make a claim can be found in the terms and conditions.



Generally, we may not be able to pay claim if:

  • The policy was fully surrendered or terminated prior to a claim being made.
  • In case it is found that any untrue or incorrect statement be contained in the proposal, personal statement, declaration and connected documents or any information is withheld, then in every such case policy shall be void and all claims to any benefit in virtue thereof cease.
  • The life insured did not disclose all matters which they know or would reasonably be expected to know, that are relevant to acceptance of risk by us.
  • The claim arises directly or indirectly as a result of the life insured’s active involvement in:
  1. War or warlike operations (Whether war is declared or not)
  2. Invasion, hostilities, mutiny, riot, civil commotion, civil war, rebellion, insurrection or the usurping of government power.
  3. An act committed by a foreign enemy.
  4. Any activity (military or otherwise) or conspiracy that causes or leads to the proclamation of material law or a state of siege, or
  5. Terrorism or conspiracy to commit terrorism which includes any activity that jeopardizes the continuance of human life or causes damage to property.