Lic Efap ✯

Suppose an LIC officer had a last drawn basic pay + DA = ₹48,000 per month. 50% of that = ₹24,000. The family will receive + the lump sum of ₹2 lakh.

Connects individual branches to LIC’s central server, ensuring data consistency across the organization's vast network. Benefits for Policyholders

On survival till the end of the policy term, the policyholder receives:

: For policies that have lapsed due to non-payment.

| Section | Benefit | | :--- | :--- | | | Premium paid (up to ₹1.5 lakh per year) deductible from taxable income. | | Section 10(10D) | Maturity/death claim proceeds are tax-free (subject to conditions: premium ≤ 10% of sum assured for policies issued after 1 April 2012; for policies issued after 1 April 2023, limit is 15% of sum assured). |

: You will likely need to provide a Certificate of Insurance (COI), your organization's most recent audit report, and an Accounting System Verification Form . General "LIC" Context

| Parameter | LIC EFAP (Table 914) | LIC Jeevan Labh (Table 936) | LIC New Jeevan Anand (Table 915) | | :--- | :--- | :--- | :--- | | | Equal to policy term | Limited (16/25 years) | Equal to term | | Maturity Benefit | SA + Bonus | SA + Bonus | SA + Bonus + Accidental benefit equivalent to SA | | Death Benefit | SA + Bonus | SA + Bonus | SA + Bonus + SA again (double cover) | | Term Range | 12-35 years | 16/25 years only | 15-35 years |