LIC, Health, Motor, Travel Insurance Delhi/Noida/Greater Noida: January 2016

Monday, January 18, 2016

LIC Of INDIA

LIC New Jeevan Pragati Table no 838 Details

This is a non-linked, with-profits Endowment Assurance plan. The main feature of this Jeevan Pragathi 838 plan is the ‘sum assured on death’ (part of death benefit) automatically increases after every five years during the term of the policy.

Key Features & Eligibility Conditions of LIC Jeevan Pragati Plan


ELIGIBILITY CONDITIONS AND RESTRICTIONS

  • Minimum Basic Sum Assured (payable on maturity) : Rs. 1,50,000/-
  • Maximum Basic Sum Assured : No Limit (Maturity Sum Assured shall be in multiple of Rs. 10,000/- only)
  • Minimum Policy Term : 12 years
  • Maximum Policy Term  : 20 years
  • Minimum Age at entry for Life Assured : 12 years (completed)
  • Maximum Entry Age : 45 years (nearer birthday)
  • Maximum Age at Maturity for Life Assured : 65 years
  • Premium payment mode : Yearly, half-yearly, quarterly & monthly.
  • Accidental Death & Disability Benefit Rider is available on payment of additional premium.
    • Minimum Accident Benefit Sum Assured is Rs 10,000
    • Maximum Accident Benefit Sum Assured is an amount equal to the Basic Sum Assured subject to the maximum of Rs 1 cr.
    • Minimum entry age for the rider is 18 years

Benefits under LIC’s Jeevan Pragati policy

  • Death Benefit under Jeevan Pragati Plan : On death of the Life Assured during the policy term, the Death Benefit  which is ‘Sum Assured on Death’ + Vested Simple Reversionary Bonuses + Final additional bonus, if any, shall be payable to the nominee. The Sum assured on death automatically increases every fiver years. Where “Sum Assured on Death” is defined as the higher of  a) 10 times of annualized premium (or) b) Absolute amount assured to be paid on death, which is as under;
    • i) During the first five policy years : 100% of the Basic Sum Assured.
    • ii) During 6th to 10th policy years : 125% of the Basic Sum Assured.
    • iii) During 11th to 15th policy years : 150% of the Basic Sum Assured.
    • iv) During 16th to 20th policy years : 200% of the Basic Sum Assured.
  • Maturity Benefit payable under LIC Jeevan Pragati Policy : On survival to the end of the policy term, the maturity benefit which is ‘Sum Assured on Maturity’ + Simple Reversionary Bonuses + Final Additional bonus (FAB) if any, shall be payable to the policy holder. Sum Assured on Maturity is equal to Basic Sum Assured.
  • Final Additional Bonus shall not be payable under paid-up policies..
  • The Bonuses shall be declared on the Basic Sum Assured.
  • The date of commencement of risk under Jeevan Pragati plan will be immediately from the date of issuance of policy.

MODE OF PREMIUM PAYMENT:

  The modes of premium payment allowable are Yearly. Half Yearly. Quarterly, and Monti (ECS only or through salary deductions).

GRACE PERIOD FOR PAYMENT OF PREMIUM:

  • A grace period of one calendar month but not less than 30 days will be allowed for Quarterly, Half Yearly  and Yearly premium paid and 15 days for monthly mode of payment.
  • If the death of the Life Assured occurs within the grace period but before the premium then due, the policy will be treated as in-force and the benefits will be paid deduction of the said unpaid premium and also the unpaid premiums falling due before next policy anniversary
  • If premium is not paid before the expiry of the days of grace, the policy lapses.
  • If the Policy has not lapsed and the claim is admitted in case of death under the where the mode of payment of premium is other than yearly, unpaid premium(s).
  • The above grace period will also apply to rider premium as the rider premium is to be along with the premium of the base plan.

REBATES:


The rebates for base plan are as under:

Mode Percentage

  • Yearly mode : 2% of tabular premium
  • Half-yearly mode : 1% of tabular premium
  • Quarterly and monthly mode : NIL

High Basic Sum Assured Rebate:

  • 1,50,000 to 2,90,000 : Nil
  • 3.00,000 to 4,90,000 : 1.50 % B.S.A
  • 5,00,000 to 9.90.000 : 2.00 % B.S.A
  • 10.00.000 and above : 2.25 %° B.S.A
  • BSA –  Basic Sum Assured

Lic New Jeevan Pragati 838

Lic Jeevan Pragati Plan 838











































Lic New Jeevan Pragati Premium Payment Plan Table No 838 Details

LIC New Jeevan Pragati Payment Plan 838 Details


Lic New Jeevan Pragati Plan Table No 838

Lic New Jeevan Pragati Plan Table 838 Features

Lic New Jeevan Pragati Plan Table No 838 Premium Calculator

Lic Jeevan Pragati Plan 838 Premium Calculator



Other Plans :   LIC Jeevan Anand Policy Table 815LIC New Endowment Plan 814

Thursday, January 7, 2016

LIC Of INDIA

LIC Jeevan Shikhar Single Premium Plan 837 Features


LIC Jeevan Shikhar Plan 837 Features and Benefits

Plan 837 Jeevan Shikhar is extended up to 9th May  2016.
Jeevan Shikhar is a single premium plan wherein life assured will have an option to choose the amount of Sum Assured and the premium payable shall depend on the chosen amount and entry age of life assured.
Features
  • Minimum Entry Age of Life Assured : 6 years (completed)
  • Maximum Entry Age of Life Assured : 45 years (nearer birthday)
  • Sum Assured on Death : 10 times of tabular single premium
  • Minimum Maturity Sum Assured  : Rs.1,00,000/-
  • Maximum Maturity Sum Assured : No Limit (Maturity Sum Assured shall be in multiple of Rs.20,000/- only)
  • Policy Term : 15 years
  • Premium payment mode : Single premium only

Death Benefits
On Death during the First 5 years of Policy
Before the Commencement of Risk:  In case life assured dies before the commencement of the risk, single premium amount without any interest will be refunded to the nominee.
After the Commencement of Risk: In case life assured dies after the risk is commenced, an amount equal to 10 times of tabular single premium will be payable to the nominee.

On Death after first 5 but before maturity of the Policy
In case life assured dies after first 5 years of policy but before maturity of the policy, an amount equal to 10 times of tabular single premium along with Loyalty Additions, if any, will be payable to the nominee.
Maturity Benefits
On life assured survives throughout the policy term, than Sum Assured on Maturity along with Loyalty Additions, if any, shall be paid.
LOAN: Loan facility shall be available under the plan at any time during the policy term after. 3 months from the date of acceptance of risk or after expiry of the free-look period, whichever is later. Depending on the age at entry, the maximum loan that can be granted as a percentage of surrender value for different policy terms are as under:

 Policy year
 Maximum Loan Amount as a % of surrender value for age at entry <=35
Maximum Loan Amount as a % of surrender value for age at entry >35 years.
*3 month  to 3rd
55%
35%
4th  to 6th
65%
50%
7th  to 9th
75%
70%
10th  to 12th
80%
80%
13th to 15th
85%
85%
*3 month means loan can be availed after three months from Date of acceptance of risk or after expiry of the Free-look period, whichever is later.

SURRENDER VALUE:
The policy can be surrendered at any time during the policy year.  The Guaranteed Surrender Value allowable shall be as under:
·         First year: 70% of the Single Premium.
·         Thereafter: 90% of the Single Premium.
Single Premium mentioned above shall not include any extra amount if charged under the policy due to underwriting decision and taxes.
The Corporation shall pay Special Surrender Value as applicable as on date of surrender provided the same is higher than Guaranteed Surrender Value.
If the policy is surrendered after completion of five policy years applicable Loyalty Addition, if any, shall also be payable.
Tax: Statutory Taxes, if any, imposed on such insurance plans by the Govt. of India or any other constitutional tax Authority of India shall be as per the Tax laws and the rate of tax as applicable from time to time.
The amount of  Service Tax payable as per the prevailing rates shall be payable by the policyholder on single premium including extra amount if charged under the policy due to underwriting decision, which shall be collected separately over and above in addition to the premium payable by the policyholder. The amount of Tax paid shall not be considered for the calculation of benefits payable under the plan.
Other conditions and policy features
Policy can be surrendered at any time during the policy term: First year- 70% of Single Premium, Thereafter-90% of Single premium

  1. Loan facility is available under this plan, after 3 months of the issuance of the policy.
  2. Policy can be taken from back date up to same financial year
  3. Nomination and assignment in this policy is available.
  4. This plan is available for sale up to 31/03/2016.








Saturday, January 2, 2016

LIC Of INDIA

LIC JEEVAN LABH Table No 836 ENDOWMENT PLAN


LIC JEEVAN LABH- (T. NO.836) Plan


✅ This is a ltd. Premium Paying non linked with profit endowment plan.

✅ On Death - S.A + BONUS + FAB
SA NOT LESS THAN 105% OF TOTAL PREMIUM PAID AS ON DATE OF DEATH.

✅ Maturity Benefit-
SA ON MATURITY + BONUS + FAB

✅ TR & DAB IS OPTIONAL

✅ Min Age @ entry- 8 years completed

✅ Max maturity Age-75 nbd

✅ Term & premium paying term -16 (10), 21 (15), 25 (16)

✅ Min SA 2 LAC. Then in multiplication of 10,000.

✅ MAXI. NO LIMIT.

✅ Commencement of risk- immediate.

✅ Modes allowed.
ALL With ECS & SSS.

✅ Loan - yes.

✅ Back dating allowed.

✅ PROPOSAL FORMS 302/342/362 AS APPLICABLE.




LIC Jeevan Labh Maturity Plan Details



LIC NEW ENDOWMENT PLAN JEEVAN LABH Table No 836

LIC NEW ENDOWMENT PLAN JEEVAN LABH Table No 836 Details

LIC Jeevan Labh Premium Chart 


LIC NEW ENDOWMENT PLAN JEEVAN LABH Table No 836 Premium Chart





















Jeevan Labh Premium Chart

LIC NEW ENDOWMENT PLAN JEEVAN LABH Table No 836 Premium Recknor