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FORTUNE BUILDER NEW - New Unit linked Plan

This is a Unit Linked Endowment /Annuity plan with regular and limited premium paying term which offers insurance-cum-investment during the term of the policy and an option to convert it into an Annuity plan at the end of the term. The policyholder can choose the level of cover within the limits, which will depend on amount of premium he desires to pay. The allocated premium will be utilized to purchase units as per the selected fund type. The Policyholders Unit Value will be subject to deduction of charges mentioned under item 4. Units will be allotted and cancelled based on the Net Asset Value (NAV) of the respective fund applicable on the date of allotment / cancellation. There is no Bid-Offer spread (both the Bid price and Offer price of units will be equal to the NAV). Currently Policy is available in U.S. Dollars only. Other details are as follows. 1) ELIGIBILTY CONDITIONS & FEATURES Age at Entry Policy Term Maturity Age Sum Assured Minimum 0 Year (18 for ABR) 5 Years 18 Years US $ 2000 Maximum 70 Years 35 Years 75 Years 5 times of Single Premium (or) 20 times of Annualised Premium. US $ 5000 for ages 65 and Premium Amount US $ 1000 for above. Single US $ 10,000,000 for Single Premium US $ 1,000,000 per annum for Modes of payment.

Premium US $ 400 for Yearly Mode Mode US $ 100 for Quarterly Mode and in multiple of US$ 50/-. Premium Paying Term

US $ 200 for Half Yearly other

Single Premium (or) limited Policy term to

Accident Cover (Available up to the age of 70 Years) Modes of Premium Payment

3 (or) 5 (or) 7 Years Equal to the minimum Sum Equal to Sum Assured subject Assured to US $ 50,000 Including all existing Policies of LIC

(International) BSC (c). Single Premium, Yearly, Half yearly and Quarterly

2. INVESTMENT FUND TYPES: There will be only one Fund called the Global Focussed Equity Opportunities Fund . The constitution and details of the funds are as below . Fund Name Investment in Government/ Investment in listed equity Government Global Guaranteed shares

Securities / Corporate Debt Focused Not less than 15% and not Not less than 75% and not more than 25% more than 85%

Debt/Equity Opportunity Fund

3. NET asset VALUE & ITS APPLICABILITY: The Net Asset Value (NAV) will be computed on the following basis and will be based on the investment performance, Fund Management Charges (FMC) and whether the fund is expanding or contracting under each fund type. The NAV under all funds will be USD10/, the face value, for one month from the date of launch (30 days). During the subsequent 3 months, the NAV will be declared on monthly basis. The NAV will be declared on fortnight basis during the subsequent three months. During the eighth and ninth month the NAV will be declared on a weekly basis and thereafter it will be on daily basis. However, the Company may endeavour to declare NAV on a daily basis at the earliest. a) Appropriation price (when fund is expanding): Market value of investments held by the fund plus the expenses incurred in the purchase of the assets plus the value of any current assets plus any accrued income net of fund management charges less the value of any current liabilities less provisions, if any divided by the number of units existing at the valuation date (before any new units are allocated).

b) Expropriation price (when fund is contracting): Market value of investments held by the fund less the expenses incurred in the sale of the assets plus the value of any current assets plus any accrued income net of fund management charges less the value of any current liabilities less provisions, if any divided by the number of units existing at the valuation date (before any units are redeemed). Premium will be accepted in Cash/Local Cheque and Demand Drafts( for local currency ) . The outstation cheque / Demand draft will not be accepted. The allotment of units will be as follows: The premiums received and adjusted by the company at the policy servicing office by way of a local cheque or a demand draft payable at par at the place of policy servicing office, the closing NAV of the next business day before which premium is received and adjusted shall be applicable. In respect of the valid applications received for surrender, partial withdrawal, death claim, switches, death after maturity (in case of settlement option exercised) etc., up to close of office hours, by the Servicing office the closing NAV of next business day shall be applicable. In respect of maturity claim where no settlement option is opted for, NAV for the date of maturity shall be applicable. 4) CHARGES AND FREQUENCY OF CHARGES: i. Premium Allocation Charge: This is the percentage of the premium appropriated towards charges from the premium received. The balance known as allocation rate constitutes that part of the premium which is utilized to purchase (Investment) units for the policy. The different bands of premiums have been named as Standard, Bronze, Silver and Gold and their premium levels corresponding to them and allocation Rates are, as mentioned, below : Single Premium: Band Standard Bronze Silver Premium Level Upto US$ 10,000 From US$ 10,100 to US$ 20,000 From US$ 20,100 to US$ 30,000 Allocation Charge (Allocation Rate) 8.00% (92.00%) 7.75% (92.25%) 7.50% (92.50%)

Gold

From US$ 30,100 & above

7.25% (92.75%)

Regular Premium with Premium Payment Term = 3 years, 5 years, 7 years & policy term: Band Premium Level Allocation Charge (Allocation Rate) 1st Year 2nd & 3rd Year 4th Year 24.00% (76.00%) 23.00% (77.00%) 22.00% (78.00%) 21.00% (79.00%) 7.00% (93.00%) 6.75% (93.25%) 6.50% (93.50%) 6.25% (93.75%) onwards 1% (99%) 1% (99%) 1% (99%) 1% (99%)

Standar d Bronze Silver Gold

Upto US$ 2,000 From US$ 2,100 to US$ 5,000 From US$ 5,100 to US$ 10,000 From US$ 10,100 & above

ii. Mortality Charge: This is the cost of life insurance cover. Mortality Charge will be taken every month by canceling appropriate number of units out of the Policyholders Fund Value. Further the charges will also depend on the underwriting decision at entry or subsequent revival. Mortality charge, during a policy year, will be based on the age nearer birthday of the Policyholder as at the Policy anniversary coinciding with or immediately preceding the due date of cancellation of units and hence may increase every year on each policy anniversary iii.Accident Benefit Charge: Charges for Accident Benefit rider, if any, will be taken every month by canceling appropriate number of units out of the Policyholders Fund Value as per the rate prevalent at the time of policy issue. A level charge, at present, is at the rate of USD1.00 per thousand Accident Benefit Sum Assured per policy year and will be made for Accident Benefit cover by cancellation of appropriate number of units out of the Policyholders Fund Value every month along with the Mortality charges. Charges for Accident Benefit rider shall be deducted only if this rider has been opted for. iv. Other Charges

A) Policy Administration Charges These charges will be deducted on monthly basis by canceling appropriate number of units out of Policyholders Fund Value for Single Premium as well as Regular Premium Policies: Period First year Renewal during PPT Renewal after PPT * Charges US$ 6.50 per month US$ 1.25 per month US$ 1.00 per month

*These charges will continue till such time the policy continues on the books of the company even after resulting into a death / maturity claim. B) Fund Management Charges Fund Management Charges (FMC) are deductible on the date of computation of NAV at the rate of 2.50% per annum. The NAV, thus declared, will be net of FMC. C) Bid/Offer Spread Nil. D) Surrender Charges :There will be a surrender charge of 7% of the fund if the policy is surrendered in the Second year, 5% of the fund if the Policy is surrendered in the Third Year and 3% of the fund if the policy is surrendered in the fourth year. Thereafter the Surrender charge will be limited to 0.5% of the fund upto 7th year . E) Miscellaneous Charge This is a charge levied for an alteration within the contract, such as reduction in policy term, reduction in Sum assured, change in premium mode to higher frequency, Grant of Accident Benefit after the issue of the policy etc., may be allowed subject to a charge of USD 8.00/- which will be deducted by canceling appropriate number of units out of the Policyholders Fund Value and the deduction shall be made on the date of alteration in the policy. The alteration will be effective from the policy anniversary coincident with or following the alteration. The Company reserves the right to accept or decline an alteration in the policy. The alteration shall take effect from the policy anniversary coincident with or following the alteration only after the same is approved by the Company and is specifically communicated in writing to the policyholder. F) Local Tax: These charges are dependant on tax rule of the country. (v) Right to revise charges: The Company reserves the right to revise all or any of the above charges except Premium Allocation charge and Mortality Charge. The

modification in charges will be done with prospective effect after giving the policyholders a notice of 3 months. 5) BENEFITS: A)Benefits payable on death: In case of death of the policyholder when the cover is in full force, the nominee shall be eligible to get the Sum Assured along with the value of the Policy holders fund as on the date of booking the liability. The liability shall be booked after receipt of intimation along with death certificate. If less than 3 years premiums have been paid and the policy is in lapsed condition, then the Policyholders fund Value only, shall become payable to the nominee. In case of death of the Life Assured before commencement of risk, only the Policyholders Fund Value shall be payable. B)Benefits payable on maturity: Policy holder has the following option on the maturity date. i) Lumpsum equal to value of units in the Policy holders Fund Account. ii) The amount determined in (i) above being utilized to purchase an annuity at the rates then prevailing if requested before three month from the maturity date. iii) The amount determined in (i) above being paid in Installments over a period of 5 years by redeeming units after allowing for administration charges if requested before three month from the maturity date. The option no. (iii) above is called Settlement Option. If it is exercised, the maturity claim under the policy shall not be paid in lump sum. The policyholder, in that case, shall encash the units held in Policyholders Fund in regular (half-yearly / yearly instalments) spread over a period of not more than five years from the date of maturity. He/she shall be required to inform how he/she shall receive the maturity proceeds. The instalment shall be the total number of units as on the date of maturity divided by total number of instalments (i.e 5 and 10 for yearly and half-yearly instalments in 5 year period respectively). This will be reduced by the number of units redeemed to meet the policy charges as per 4(iv) A. The number of units arrived at in respect of each instalment will be multiplied by the NAV as on the date of instalment payment. The first payment will be made on date of maturity and there after based on the mode opted by the policyholder i.e. every six months from the date of maturity or every year from the

date of maturity. During the Settlement Option period no charges other than the administration charges and Fund Management Charge shall be deducted. There shall not be any life cover during this period. The value of installment payable on the date specified shall be subject to investment risk i.e. the NAV may go up or down depending upon the performance of the fund. On death of life assured after the commencement of Settlement Option period, the value of outstanding units held in Policyholders unit account shall become payable to the nominee/ legal heir in lump sum. Settlement Option shall not be allowed under a lapsed policy. No partial withdrawal or switching of fund shall be allowed after commencement of Settlement Option period (i.e. After maturity due date). C ) Other Optional Benefits i.) Accident Benefit Rider Option: Accident Benefit (AB) can be availed of as an optional Rider benefit by paying an additional premium of USD.1.00 for every USD.1,000/- of the Accident Benefit Sum Assured per policy year by cancellation of appropriate number of units out of the Policyholders Fund Account every month. On Accidental death of the Policyholder during the term of the policy, on admission of claim for accident benefit, a sum equal to the Accident Benefit Sum Assured will become payable, provided the Accident benefit cover is opted for and is in force. Further, it will be available up to the Sum Assured, subject to an overall limit of USD50,000 taking all existing policies of the Life Assured under individual as well as group schemes taken from Life Insurance Corporation (International) B.S.C.(C) and the Accident Benefit Rider Sum Assured under the new proposal into consideration. Accident Benefit Rider can be taken at the commencement of policy in case of major life subject to life eligibility condition. If the age at entry of the Life Assured is less than 18 years, then the Accident Benefit Rider can be opted for from the policy anniversary coinciding with or immediately following the completion of 18 or more years of age subject to other condition. This benefit will be available only till the policy anniversary on which the age nearer birthday of the Policyholder is 70 years. No charges for this benefit shall be deducted from the Policy anniversary at which the benefit ceases.

ii) Partial withdrawal: A Policyholder can partially withdraw the units at any time from the second policy anniversary subject to the following: i) Under policies where at least 2 years premiums have been paid, partial withdrawal will be allowed subject to a minimum balance of two annualized premiums in the Policyholders Fund Value. ii) Partial withdrawals may be in the form of fixed amount or in the form of fixed number of units. iii) In case of minors, partial withdrawals shall be allowed from the policy anniversary coinciding with or next following the date on which the life assured attains majority (i.e. on or after 18th birthday). iv) Under policies where less than 2 years premium have been paid and further premiums are not paid, the partial withdrawals shall not be allowed. ii) Under Single premium policy, partial withdrawal will be allowed subject to a minimum balance of 25% of single premium in policy holders fund account or US $ 800.00 whichever is higher after partial withdrawal. 6)COMMENCEMENT OF RISK UNDER THE POLICY: Date of Commencement of Risk is the date from which life assurance cover shall be available under the policy. If the age of the Life to be Assured is 12 years or more, risk will start from the date of policy. If the age of the Life to be Assured is less than 12 years, the date of Commencement of Policy will be the date of completion of the proposal. The date of commencement of Risk shall be as per the following rules Risk will commence either after 2 years from the date of commencement of policy or from the policy anniversary coinciding with or immediately following the completion of 7 years of age, whichever is later in case the age at entry of the life assured is less than or equal to 10 years. Where the age at entry is more than 10 years but less than 12 years, the risk shall commence from the policy anniversary coinciding with or next following 12th birthday of the Life Assured. 7) DAYS OF GRACE: A grace period of one calendar month but not less than 30 days will be allowed for payment of yearly or half-yearly or quarterly premiums. If the death of Life Assured occurs within the grace period but before the payment of premium then

due, the policy will be treated as in-force and the death benefits shall be paid after deduction of all the relevant charges, if not recovered. If premiums are not paid within the days of grace, the policy will be lapsed. 8) REVIVALS: A lapsed policy can be revived during the period of two years from the due date of first unpaid premium or before maturity, whichever is earlier. The period during which the policy can be revived will be called Period of revival or revival period. If premiums have not been paid for at least 3 full years, the risk cover will stop after grace period and recovery of mortality as well as accident benefit ( if opted) charges will not be recovered. Such policy may be revived within two years from the due date of first unpaid premium. The revival shall be made on submission of proof of continued insurability to the satisfaction of the Company and the payment of all the arrears of premium without interest. If at least 3 years premiums have been paid and subsequent premiums are not paid, the policy may be revived within two years from the due date of first unpaid premium but before the date of maturity, if earlier. No proof of continued insurability is required and all arrears of premium without interest can be paid. During this period, the charges for Mortality, Accident Benefit, if any, shall be taken, in addition to other charges, by canceling an appropriate number of units out of the Policyholders Fund Value every month. This will continue to provide relevant risk covers for : i. two years from the due date of first unpaid premium, or ii. till the date of maturity, or iii. till such period that the Policyholders fund Value reduces to one annualized premium, whichever is earlier.