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| Criteria | Requirement | |----------|-------------| | Nationality | Indian resident | | Age at entry | 20 to 60 years | | Maximum age at maturity | 75 years | | Min. Sum Assured | ₹2,00,000 | | Policy term | 10–20 years | | Medical underwriting | Required for high SA (above non-medical limits) |
| Feature | LIC EFAP (861) | LIC Jeevan Labh (Plan 836) | LIC Jeevan Umang (Plan 945) | |---------|----------------|----------------------------|------------------------------| | Participation | Non-Participating | Non-Participating | Participating (with bonuses) | | Returns | Guaranteed Additions | Guaranteed Additions + FAB | Reversionary + Final bonus | | Term | 10–20 years | 10–16 years | 100 years minus entry age | | Premium Paying Term | Same as policy term | Same as policy term | Limited pay (e.g., 15, 20 yrs) | | Maturity Age | Max 75 | Max 75 | Max 100 (whole life) | | Ideal for | Mid-term savings | Short-to-mid term savings | Lifetime income & legacy |
Verdict: EFAP is ideal for employees looking for guaranteed, simple, and transparent returns without market risk.
Let’s take a practical example:
Annual Premium (approx.): ~₹90,000 – ₹1,00,000 (depending on mode and rebates)
In case of unfortunate death of the policyholder during the term, the nominee receives:
The death benefit ensures that the family’s financial goals are not derailed by the loss of the primary earner. lic efap
To be eligible for EFAP benefits, the following conditions must be met:
Note: Probationary employees and contractual staff are generally not covered under EFAP. Always check with your divisional office for specific case eligibility.
Within 5 years from first unpaid premium date, policy can be revived by paying all due premiums + interest (as specified by LIC). After 5 years, policy lapses permanently. | Feature | LIC EFAP (861) | LIC
LIC has modernized its purchase process. You can buy LIC EFAP through:
Documents required:
