LIC, Health, Motor, Travel Insurance Delhi/Noida/Greater Noida: LIC Plans for Male

Showing posts with label LIC Plans for Male. Show all posts
Showing posts with label LIC Plans for Male. Show all posts

Friday, July 12, 2019

LIC Of INDIA

LIC Jeevan Amar Term Insurance Plan No 855

LIC Jeevan Amar (No.855) is a Non-Linked & Non-Participating Term Life Insurance Plan. 


LIC Jeevan Amar Term Insurance Plan 855 - Features

  • Minimum Age : 18 years
  • Maximum Age : 65 years
  • Maximum Age at Maturity : 80 years
  • Minimum Sum Assured is Rs.25 lakh and there is no limit for maximum sum assured.
  • Maximum Sum Assured : No Limit
  • Policy Term : 10 to 40 years
  • Premium Paying Term (PPT) : Same as Policy term
  • Single Premium : Minimum premium would be Rs. 30000/-.
  • Commencement of Risk : Immediate from the date of issuance of Policy.
  • You can pay the premium as regular, single or limited.
  • You can opt for a level sum assured, where the sum assured you opted will remain the same throughout the policy period.
  • You can opt for an increasing sum assured also, where the death benefit will remain the same up to 5 years of the first policy period. After that, it will increases at a rate of 10% for the next 10 years. From the 16th year, it will remain the same.
  • Death Benefits can be taken in installments also of 5 years, 10 years or 15 years.
  • Coverage up to 80 years of age.
  • You can opt for Accidental Rider also.
  • Optional Rider benefit.
  • No Loan facility available under this plan.
  • Back-dating is also not allowed under this plan.
  • Free Look up period  15 days from the date of receipt of policy.
  • Lower rates for Non-Smokers and special rates for women.

LIC Jeevan Amar Term Insurance Plan 855 - Benefit Options

Death Benefits

Regular Premium : For regular & Limited premium payment policy, "Sum Assured on Death" is

  • 7 times or annualized premium or
  • 105 % of all the premiums paid as on the date of death or
  • Absolute amount assured to be paid on death.

Single Premium :

  • 125 % of Single Premium
  • Absolute amount assured to be paid on death.

Increasing Sum Assured

  • Under this feature, the death benefit will be the same as that of the initial sum assured you have chosen for the first five years.
  • From 6th policy year to 10th year, it will increase at the rate of 10% per year.
  • From the 16th year of the policy period, it will remain the same throughout the remaining policy period.
  • Accordingly, your nominee will receive the death benefit during which period of the policy your death occurs.

Death benefit payment option to the nominee


Your nominee can receive the death benefit as a lump sum or in installments. If you opted for installments, then LIC will pay the death benefit installments in 5 years, 10 years or 15 years.
You can choose the full death claim amount be payable in installments or a certain portion of death claim in installments.
You can choose this installment option either at the time of buying or during the policy period.


More Details coming soon.

Wednesday, April 19, 2017

LIC Of INDIA

LIC AADHAAR STAMBH Plan No. 843 Details & Calculation

  • Non-linked 
  • With-profits 
  • Regular Premium Endowment Assurance Plan

LIC AADHAAR STAMBH Plan 843 Features :

  • Exclusively designed for Male Lives 
  • AADHAAR Card issued by UIDAI mandatory 
  • Available for Standard healthy lives 
  • Non- Medical 
  • S.A. maximum 3 lakhs


LIC AADHAAR STAMBH Plan 843 Maturity Benefit's :


On survival to the end of the policy term “Sum Assured on Maturity” along with Loyalty Addition, if any, shall be payable.

Where “Sum Assured on Maturity” is equal to Basic Sum Assured.

LIC AADHAAR STAMBH Plan 843 Maturity Death Benefit:

On death during first five years:


“Sum Assured on Death” shall be payable.

On death after completion of five policy years but before the date of maturity: “Sum Assured on Death” and Loyalty Addition, if any, shall be payable.

Where “Sum Assured on Death” is defined as the higher of 10 times of annualised premium OR Absolute amount assured to be paid on death, i.e. Basic Sum Assured.

The death benefit shall not be less than 105% of all the premiums paid as on date of death.  


LIC AADHAAR STAMBH Plan 843 Accident Benefit Rider :


LIC’s Accident Benefit Rider
is available as an optional rider by payment of additional premium during the term of the policy. Under an in force policy the LIC’s Accident Benefit Rider can be opted for at any time within policy term of the Base Policy provided, the outstanding policy term of the Base Policy is at least five years.

If this benefit is opted for, and if Life Assured is involved in an accident, leading to death and such incident shall occur within 180 days from the date of accident then an additional amount equal to the Accident Benefit Sum Assured is payable. However, the policy shall have to be in force at the time of accident irrespective of whether or not it is in force at the time of death.


LIC AADHAAR STAMBH Plan 843 Auto Cover Period:


“Auto Cover Period”
under a paid-up policy is the period from due date of first unpaid premium (FUP), which includes the Grace Period. The applicable duration of Auto Cover Period shall be as under:


If at least three full years’ but less than five full years’ premiums have been paid in respect of a policy and any subsequent premium is not duly paid: Auto Cover Period of six months from the due date of first unpaid premium (FUP) shall be available.


If at least five full years’ premiums have been paid in respect of a policy and any subsequent premium is not duly paid: Auto Cover Period of two years from the due date of first unpaid premium (FUP) shall be available.


The benefits payable under a paid-up policy during Auto Cover Period shall be as follows:


On Death:

Death Benefit, as payable under an inforce policy will be paid after deduction of


(a) the unpaid premium(s) in respect of the base policy with interest thereon up to the date of death, and


(b) the balance premium(s) for the base policy falling due from the date of death and before the next policy anniversary, if any.  

On Maturity:

“Maturity Paid-up Sum Assured” is payable and shall be equal to [(Number of premiums paid/Total Number of premiums payable) x (Sum Assured on Maturity)]. In addition to the Maturity Paid-up Sum Assured, Loyalty Addition, if any, shall also be payable on maturity.

LIC AADHAAR STAMBH Plan 843 ELIGIBILITY CONDITIONS AND RESTRICTIONS:


For Base LIC AADHAAR STAMBH Plan:


Minimum Age at entry : 8 years (completed) 
Maximum Age at entry : 55 years (nearest birthday)
Minimum Policy Term : 10 years
Maximum Policy Term : 20 years
Maximum Age at Maturity : 70 years (nearest birthday)
Minimum Basic Sum Assured per life : Rs. 75,000/-
Maximum Basic Sum Assured per life : Rs. 300,000/-  

The Basic Sum Assured shall be in multiples of Rs.5,000/- from Basic Sum Assured Rs. 75,000 to Rs. 1,50,000/- and Rs.10,000/- for Basic Sum Assured above Rs.1,50,000/-.

“The total Basic Sum Assured under all policies issued to an individual under LIC AADHAAR STAMBH plan shall not exceed Rs. 3 lakh”.
These wordings have to appear in the First Premium Receipt (FPR) and in the policy document for every policy under LIC AADHAAR STAMBH plan.   Age at entry for the Policyholder is to be taken as age nearest birthday except for the minimum age at entry i.e. 8 years, where it is in completed years.

LIC AADHAAR STAMBH Plan 843 Eligibility Conditions and Restrictions:


For Accident Benefit Rider:

Minimum Entry Age : 18 years (completed)
Maximum Entry Age : The cover can be opted for at any time within policy term of the Base Policy provided, the outstanding policy term of the Base Policy is at least five years.

Maximum cover ceasing Age : Same as under the base plan.
Minimum Accident Benefit Sum Assured : Rs. 20,000/-
Maximum Accident Benefit Sum Assured: An amount equal to the Basic Sum Assured under the Basic Plan subject to the maximum of Rs.100 lakh overall limit taking all existing policies of the Life Assured under individual as well as group schemes including policies with inbuilt accident benefit taken with Life Insurance Corporation of India and the Accident Benefit Sum Assured under the new proposal into consideration.  
The Accident Benefit Sum Assured shall be in multiples of Rs. 5,000/-.

LIC AADHAAR STAMBH Plan 843 MODE OF PREMIUM PAYMENT :

The modes of premium payment allowable are :


  • Yearly 
  • Half Yearly 
  • Quarterly 
  • Monthly ( through NACH only or through salary deductions)


LIC AADHAAR STAMBH Plan 843 REBATES :


The rebates for base plan are as under :



Mode Rebate:

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

High Basic Sum Assured Rebate: 


Basic Sum Assured Rebate (Rs.) 
75,000 to 1,90,000 : Nil
2,00,000 to 2,90,000 : 1.50 ‰  Basic Sum Assured
3,00,000 : 2.00 ‰ Basic Sum Assured

LOAN:


Loan facility is available under LIC AADHAAR STAMBH plan, after payment of premiums for at least 3 full years subject to certain conditions.

SURRENDER VALUE:


The policy can be surrendered at any time during the policy term provided at least three full years’ premiums have been paid.  

LIC AADHAAR STAMBH Plan 843 Premium Calculation Chart







Other Plans :  LIC New Jeevan Anand Plan Table No - 815LIC New Endowment Plan Table No - 814