Please help, query on LIC’s Marriage Endowment/Educational Annuity with profits plan (Table no. - 90)?

My father had taken LIC’s Marriage Endowment/Educational Annuity with profits plan (Table no. - 90) in 1998 for a period of 16 and 20 years. My father had expired on 2.06.2012. My father had taken loan on this policy, but today I am in dire need of money what to do? My age is still 17 years old. I need money to surive. I'm studying in class 11. Me and my mother live in rented house.

Please suggest some help.

Policy No 1
SA 211000 =LOAN 75000 BONOUS 82923

PLOICY NO 2
SA 60000=LAON 42000 BONOUS 48060

MY MOTHER NAME IS IN APPOINTY

PLEASE HELP

In LIC Policy the loan is granted as per the terms and conditions applicable to the policy. The maximum loan amount available under the policy is 90% of the Surrender Value of the policy (85% in case of paid up policies) including cash value of bonus.

In case the policy becomes a claim either by maturity or death within six months from the date of loan interest will be charged only up to the date of maturity/death.

You can either repay the loan with interest or pay just the interest and allow the principal amount to be deducted from the accumulated corpus during claim settlement.

Under LIC Marriage Endowment/ Education Annuity Plan (Plan No. 90) the Sum Assured plus Bonus would be paid for the child’s benefit on the term’s maturity even if the Life Insured dies before. Thus, nothing is payable immediately to the nominee on death of the Life Insured, unless accidental; only the future premiums are waived and paid by the company such that the Maturity Benefit of the Sum Assured plus Bonus is duly paid.

In case the policy becomes a claim either by maturity or death within six months from the date of loan interest will be charged only up to the date of maturity/death.