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Central Government Provisions: Indirect provisions: Miscellaneous

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Insurance Schemes for disabled persons under the Life Insurance Corporation of India

Family pension

Ad-hoc allotment of central pool residential accommodation

Scheme of national Award for the welfare of persons with disabilities

Family pension

Handicapped children shall be eligible for the benefit of family pension even if they have been born after retirement of the Government servant from a marriage solemnised after retirement.

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Ad-hoc Allotment of Central Pool Residential Accommodation

On request, disabled government employees can get ad-hoc allotment of general pool residential accommodation, after getting a recommendation from the Special Recommendation Committee and approval from the Urban Development Ministry.

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Insurance Schemes for disabled persons under the Life Insurance Corporation of India

Jeevan Adhaar Plan

Features: This Plan has been specially designed to make provision for maintenance of handicapped dependants. Under the Jeevan Aadhar plan, an individual or member of a Hindu undivided Family can take an assurance on his/her own life to provide for payment of a lump sum and an annuity to the handicapped dependant.

The payment will be made to the nominee under the policy, who will be either the handicapped dependant or any other person or a trust, all for the benefit of the handicapped dependant.

Under the Jeevan Aadhar plan, Guarantee Additions at the rate of 10 percent of the basic Sum Assured per each completed policy year will be payable on the death of life assured. Such additions will be paid until the policy anniversary on which the life assured turns 65 years old.

Suitable for: The Plan has been specially designed to make provision for maintenance of handicapped dependants. Under the Plan an individual or member of Hindu Undivided Family can take an assurance on his/ her own life to provide for payment of a lump sum and an annuity to the handicapped dependant.

"Handicapped dependant" shall mean a person who:

• Is a relative of the individual or, as the case may be, is a member of the Hindu undivided family and is not dependant on any person other than such individual or Hindu undivided family for his/ her support or maintenance.
• Is suffering from a permanent physical disability (including blindness) or is subject to mental retardation, being a permanent physical disability or mental retardation specified in the rules made by the CBDT for the purpose of section 80DD of I.T. Act 1961, which is certified by a physician, a surgeon, an oculist or a psychiatrist, as the case may be, working in a Government hospital, and which has the effect of reducing considerably such person's capacity for normal work or engaging in a gainful employment or occupation.

Terms allowed are 10, 15, 20, 25, 30 & 35 only.

Survival benefits: Sum Assured + 10 percent guaranteed addition of the sum assured on an annual basis.

Death benefits: In the event of handicapped dependant predeceasing the life assured during the term of the policy the contract ceases and the life assured will have the option of keeping the policy for a reduced paid-up sum assured or receive a refund of premiums paid (excluding extra premiums and accident benefit premium if any). The reduced paid up sum assured including any guaranteed and terminal addition as applicable will be paid as lump sum to the estate of the life assured on the death of the life assured.

Plan Parameters:

Jeevan Vishwas

Features: This plan is Endowment with guaranteed and loyalty additions.
Guaranteed Additions at the rate of Rs.60 % of basic sum assured will accrue at the end of each completed policy year while the policy is in force for full sum assured and will be payable on the date of maturity or on earlier death of the life assured.
Loyalty Addition On the life assured surviving the date of maturity, or on earlier death after five years, loyalty addition, if any may be paid at such rates and on such terms as may be declared by the Corporation.

Guaranteed Surrender Value: Annual premium paying policy under this plan can be surrendered for cash at any time after the premiums have been paid for at least three years. The surrendered value allowable under this policy will be equal to 30 % of the total amount of premiums paid excluding the premiums for the first year and all extra premiums, if any, On surrender, cash value of accrued Guaranteed additions also will be allowed.

Single premium policy can be surrendered for cash at any time after the policy has run for at least three years. The surrender value allowable under this policy will be equal to 90 % of the total amount of premiums paid excluding all extra premiums, if any, On surrender, cash value of accrued Guaranteed additions also will be allowed.

Accident Benefit: This benefit can be allowed only under annual premium policies, subject to underwriting restrictions. The accident and disability benefits will be paid as per the usual LIC practice.

Manner of Benefit Payment: Twenty percent of the total of basic sum assured, accrued guaranteed additions and loyalty addition if any will be paid in lump sum. He balance eighty percent will compulsorily be utilised to provide an immediate annuity on the life of handicapped dependant, payable as per the chosen mode. The annuity will be at the rates prevailing at the time of claim. The following are the annuity options under the plan:

• Annuity for life.
• Annuity certain for 5 or 10 or 15 years and life thereafter.
• Annuity for life with return of notional purchase price (which is 80% of the total of basic sum assured, accrued guaranteed additions and loyalty addition, if any).

In the event of the handicapped dependant predeceasing the life assured, the life assured will have the option to surrender the policy if it has acquired surrender value or keep it in force by regularly paying the premiums. In the later case, the life assured has the option to go in for the benefits in lump sum or bifurcate the sum into 20% lump sum and effect annuity on his own life for the balance 30%.

Survival benefits: Basic sum assured together with accrued guaranteed additions and loyalty additions, if any will be payable on the life assured (proposer) surviving the date of maturity of the policy.

Death Benefits: On death of the life assured during the term of the policy, Basic sum assured together with accrued guaranteed additions and loyalty addition, if any will be payable.

Plan Parameters:

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