Life Insurance - What benefits are not accrued to a Paid-up LIC policy?

A paid-up policy loses all the additional benefits attached to the policy:

  • Double Accident benefits
  • Survival benefit installments in the case of money-back policies

A paid-up policy may be free from payment of further premium but is subject to the payment of interest on any loan and other charges, if any are applicable. The interest on the loan must be paid regularly or LIC will start to write off the policy towards the repayment of loan amount and the interest in terms of the conditions governing the grant of the loan.