Efap - Lic

If the life assured dies during the policy term (provided all premiums paid up to date):

Definition of Sum Assured on Death:
Higher of:

LIC EFAP allows attaching the following riders (additional premium):

Riders are subject to conditions and increase the total premium. lic efap

If at least 2 full years’ premiums are paid and subsequent premiums are not paid:

No. It is a non-linked guaranteed savings plan, unaffected by stock market movements.

Guaranteed Surrender Value (GSV):
50% of total premiums paid (excluding taxes, rider premiums) after 2 years. If the life assured dies during the policy

Special Surrender Value (SSV):
Calculated as (Paid-up Value + Accrued Bonuses) × Surrender Value Factor (based on policy term completed).

Higher of GSV or SSV is paid on surrender.

Enhance your coverage with these optional riders (extra premium applies): Definition of Sum Assured on Death: Higher of:

| Rider Name | Benefit | |------------|---------| | LIC’s Accident Benefit Rider | Additional Sum Assured on accidental death or total permanent disability | | LIC’s New Term Assurance Rider | Extra life cover without additional savings component | | LIC’s Critical Illness Rider | Lump sum on diagnosis of specified critical illnesses (cancer, heart attack, etc.) |

Note: Riders increase premium but significantly boost protection.

I’m not sure what "lic efap" refers to — I’ll assume you mean "LIC EFAP" (Life Insurance Corporation — Employee Family Assistance Program) or "LIC" (Life Insurance Corporation) and "EFAP" (Employee Assistance Program). I’ll prepare a detailed article covering both possible meanings: an overview of LIC, and a thorough guide to EFAP (purpose, services, implementation, benefits, challenges, and sample policy). If you meant something else, tell me the intended term and I’ll adjust.