LIC,Health,Motor,Travel Insurance Agent Delhi 9811362697: Short Term Plan

Showing posts with label Short Term Plan. Show all posts
Showing posts with label Short Term Plan. Show all posts

Friday, January 3, 2014

LIC Of INDIA

Lic Bima Bachat Money Back Plan 816 Features & Details

Service Tax shall be applicable at the prevailing rates and borne by the policyholder as per rules.
LIC Bima Bachat Maturity Benefit -Single Premium Paid along with loyalty addition less Taxes and extra premiums, if any
LIC Bima Bachat Death Benefit -
First 5 years: Sum Assured shall be payable.
After completion of 5 years: Sum Assured and Loyalty Additions, if any shall be payable.

LIC Bima Bachat SURVIVAL BENEFIT (as a percentage of Sum Assured)

Year >Term
3rd
6th
9th
12th
15th
9
15%
15%
Maturity
NA
NA
12
15%
15%
15%
Maturity
NA
15
15%
15%
15%
15%
Maturity
Eligibility Conditions and Restrictions
· Age at entry - 15 years
· Age at Maturity - Maximum 75 Years
· Policy Term - 9 , 12 and 15 years
· Premium mode – Yearly, Half-yearly, Quarterly, Monthly (SSS or ECS)
·
Basic Sum Assured –
Min Term 9 Yrs.
Min Term 12 Yrs.
Min Term 15 Yrs.
Maximum Term – 9/12/15
Sum Assured
35000
50000
70000
No upper Limit SA shall be in multiple of Rs.5000
Maximum Age
66 years
63 years
60 years

Loan – 
Loan facility available after completion of 1 policy year.
Loan can be granted up to 60% of Surrender Value
Surrender Value-
· Available at any time during the policy term subject to realization of the premium cheque.
· No Loyalty Addition payable
· Higher of GSV or SSV payable
Guaranteed Surrender Value (GSV) -
1st Year ~ 70% of Single Premium excluding taxes and extra premium, if any.
Thereafter ~ 90% of Single Premium excluding all Survival Benefits paid earlier, taxes and extra premium, if any.
Special Surrender Value (SSV) -Discounted value of Single Premium paid excluding taxes and extra premium, if any.




Lic New Bima Bachat Plan Table No 816 Premium Chart


LIC Single Premium Bima Bachat Plan 816 Maturity Illustration 9 YEARS



Above Illustration is for

Age                                      : 30 years
Sum Assured                       : 2,00,000 (2 Lacs)
Premium                              : 146945 (141634 + 5311 (S. Tax))
Premium Paying Term          : Single
Policy / Maturity Term           : 9 years
Loyality Addition (2016)        : 110 per 1000

LIC Single Premium Bima Bachat Plan 816 Maturity Illustration 12 YEARS



Above Illustration is for

Age                                      : 30 years
Sum Assured                       : 2,00,000 (2 Lacs)
Premium                              : 150783 (145333 + 5450 (S. Tax))
Premium Paying Term          : Single
Policy / Maturity Term           : 12 years
Loyality Addition (2016)        : 150 per 1000

LIC Single Premium Bima Bachat Plan 816 Maturity Illustration 15 YEARS



Above Illustration is for

Age                                      : 30 years
Sum Assured                       : 2,00,000 (2 Lacs)
Premium                              : 155787 (150156 + 5631 (Tax))
Premium Paying Term          : Single
Policy / Maturity Term           : 15 years
Loyality Addition (2016)        : 220 per 1000

Lic New Bima Bachat Plan Table No 816 Illustration


Lic New Bima Bachat Plan Table No 816 Illustration 1

Lic New Bima Bachat Plan 816 Illustration

Lic New Bima Bachat Plan Table No 816 Illustration 3


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

Tuesday, July 2, 2013

LIC Of INDIA

LIC Jeevan Surabhi (Money Back) Plan Details


Features:

This plan is similar to other money back plans. However main differences in regular money back plans and LIC Jeevan Surabhi are as under

Maturity term is more than premium paying term.

Early and higher rate of survival benefit payment.

Risk cover increases every five years.

The actual term and the premium paying term for these plans are as under.

Plan no.
Policy Term
Premium Paying Term
106
15 years
12 years
107
20 years
15 years
108
25 years
18 years

Full sum assured is paid back as survival benefit by the end of premium paying term. However, the risk cover and additional risk cover continue and the policy participates in profits till the end of policy term.

Accident Benefit is restricted to the premium paying period and to the overall limit of Rs.5 lakhs on a single life.

Suitable For:

LIC Jeevan Surabhi plan holds special interest to people who besides wishing to provide for their old age and family feel the need for lump sum benefits at periodical intervals.

Benefits:

JEEVAN SURABHI – (Table Nos. 106,107 & 108)


Introduction:


For the year 2004-05 the two rates of investment return declared by the Life Insurance Council are 6% and 10% per annum.

Product summary:


This is a with-profits plan available for three different terms of 15, 20 and 25 years with corresponding premium paying terms of 12, 15 and 18 years. The plan provides a specified percentage of Sum Assured on survival up to specified durations. A life insurance cover is available throughout the term of the plan which increases after every five yearly intervals.

Premiums:  

Premiums are payable yearly, half-yearly, quarterly, monthly or through salary deductions as opted by you throughout the premium paying term of the policy or till the earlier death.

Bonuses: LIC Jeevan Surabhi is a with-profit plan and participates in the profits of the Corporation’s life insurance business.  It gets a share of the profits in the form of bonuses. Simple Reversionary Bonuses are declared per thousand Sum Assured annually at the end of each financial year.  Once declared, they form part of the guaranteed benefits of the plan. A Final (Additional) Bonus may also be payable provided policy has run for certain minimum period.

Death Benefit:     

The Sum Assured along with the additional cover, if any, plus all bonuses declared till death is payable in a lump sum upon the death of the life assured during the policy term. The survival benefits paid prior to death will not be deducted from the claim amount.

Survival Benefit: A percentage of sum assured as mentioned below will be paid on your survival to the end of specified durations:

Percentage of Sum Assured payable at the end of specified duration
Plan and Term ( Premium Paying Term )
Duration
106/15(12)
107/20(15)
108/25(18)
4
30%
25%
20%
5
-
-
-
8
30%
25%
20%
10
-
-
-
12
40%
25%
20%
15
 
25%
20%
18
-
-
20%





Maturity Benefit:    

LIC Jeevan Surabhi policy matures on your survival to the end of the policy term. All bonuses declared up to maturity date will be paid in a lump sum.


Supplementary/Extra Benefits:  These are the optional benefits that can be added to your basic plan for extra protection/option.  An additional premium is required to be paid for these benefits.


Surrender Value:    

Buying a life insurance contract is a long-term commitment.  However, surrender values are available under the plan on earlier termination of the contract.

Guaranteed Surrender Value:

The policy may be surrendered after it has been in force for 3 years or more.  The guaranteed surrender value is 30% of the basic premiums paid excluding the first year’s premium in case no survival benefit payment has already fallen due. Where one or more survival benefits have fallen due, the guaranteed surrender value will be 30% of the premiums paid on or after the due date of payment of latest survival benefit.

Corporation’s policy on surrenders:

 In practice, the Corporation will pay a Special Surrender Value – which is either equal to or more than the Guaranteed Surrender Value. The benefit payable on surrender is the discounted value of the reduced claim amount that would be payable on death or at maturity. This value will depend on the number of premiums paid and the duration at which surrender value is calculated. In some circumstances, in case of early termination of the policy, the surrender value payable may be less than the total premium paid.

The Corporation reviews the surrender value under its plans from time to time depending on the economic environment, experience and other factors.


  Note: The above is the product summary giving the key features of the plan.  This is for illustrative purpose only.  This does not represent a contract and for details please refer to your policy document.


Benefit Illustration:



            Illustration 1 (Table 106)

            Age at entry: 35 years

            Policy Term: 15 Years   

            Premium Paying Term: 12 Years  

            Mode of premium payment: Yearly

            Sum Assured : Rs. 1,00,000 /-

            Annual Premium : Rs. 10963 /-


               Illustration 2 (Table 107)

            Age at entry : 35 years

            Policy Term : 20 Years     

            Premium Paying Term : 15 Years  

            Mode of premium payment : Yearly

            Sum Assured : Rs. 1,00,000 /-

            Annual Premium : Rs. 9581 /-

                 

                Illustration 3 (Table 108)

            Age at entry : 35 years

            Policy Term : 25 Years     

            Premium Paying Term : 18 Years  

            Mode of premium payment : Yearly

            Sum Assured : Rs. 1,00,000 /-

            Annual Premium : Rs. 8776 /-

                 

            Plan Parameters :

Minimum
Maximum
Entry age
14 (last birthday)
plan 106
55
plan 107
50
plan 108
45
Sum assured (Rs.)
50,000
NO LIMIT
Term (years)
15 years
Fixed Term
Mode of Payment
Maximum Maturity Age
Policy loan available
Yearly, Half-yearly, Quarterly, Monthly, Salary Saving Scheme
70 years
Yes


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Friday, May 17, 2013

LIC Of INDIA

LIC's Jeevan Mitha (Triple Benefit) Features & Details

What does LIC's Jeevan Mitra (Triple Cover) Offer you?



Sum Insured + Bonus Accrued For the Policy Term chosen, on your surviving the premium payment term you have chosen (15 to 30 years), 3 times the basic sum Insured + Bonus accrued on the basic sum insured in case you do not outlive the premium payment term you have chosen ( 15 to 30 years)
4 times the basic sum insured in case death is due to accident against a little extra, Waiver of further premium payable + Basic Sum Insured spread over in the form of an Annuity for next 10 years + All other Maturity benefits in case of Total and Permanent Disability due to Accident, Loan against surrender value at 9.00% per annum simple interest,

Why Should You Invest On LIC's Jeevan Mitra (Triple Benefit)?


Financial security available to your nominee in your absence during the currency of the plan is maximum, Maturity Benefit available should you outlive the PPT you have chosen is quite impressive, Premium paid qualifies for Section 80 C benefit within the overall limit of Rs 1 Lakh per annum allowed for various savings, Policy proceeds received by you on surviving the PPT chosen are free from income-tax under section 10(10D) of the I.T Act.


Policy loans available under the plan offer you additional investment facilities without effecting any of the policy privileges, Most ideal as a collateral security while drawing housing or any capital loans in view of the high security it offers.


These are some of the prominent reasons why you should invest on LIC's Jeevan Mitra (Triple Benefit) as much as you can.

How long you need to Invest on LIC's Jeevan Mitra (Triple Benefit)?


15 to 30 years ceasing at death, if it occurs early.

What are the Modes of Investment available under LIC's Jeevan Mitra (Triple Benefit)?


Yearly, Half-yearly or Quarterly or Monthly.

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LIC Of INDIA

LIC's Bima Account -1 Features & Plan Details


What does LIC's Bima Account - 1 Offer you?

Balance in your Account ( Total investment in regular premium account + Total investment in top up premium account - expenses) on surviving the policy term you have chosen (5 to 7 years),

Sum Insured + Balance in your account ( Total investment in regular premium account till the day of death + Total investment in top up premium account till day of death - expenses till the day of death) in case you do not survive the policy term chosen ( 5 to 7 years)

Guaranteed Interest at 6% per annum on the balance in your account,

Possibility of enhanced interest on the premium account portion of the policy account,

Loan against surrender value at 9.00% per annum simple interest after 1 year from the commencement,

Facility for topping up the premium with additional amount.

Why Should You Invest On LIC's Bima Account-1?

It is a short term plan of 5 to 7 years.

You are assured of a minimum 6% per annum on the balance in your account. In addition, there is a possibility of higher returns on your premium account. But in reality, you are earning more every year, since, more and more amount out of your gross investment is getting transferred to your policy account with reduction in charges towards expenses. Coupled with Section 80C benefit subject to a overall limit of Rs 1 Lakh per annum allowed for various savings and full I.T exemption on the claim amount you receive under section 10(10D) of the I.T Act, you will observe Bima Account 1 as one of the most lucrative investment options you love to explore.

The plan offers quite an impressive life insurance coverage right from day one till day last. In addition, entire balance in the policy account is returned in such an event marking the uniqueness of the plan!

Policy loans available under the plan offer you additional investment facilities without affecting any of the policy privileges.

These are some of the prominent reasons why you should invest on LIC's Bima Account-1) as much as you can.

How long you need to Invest on LIC's Bima Account-1?

5 to 7 years ceasing at death, if it occurs early.

What are the Modes of Investment available under LIC's Bima Account-1?

Yearly, Half-yearly or Quarterly or Monthly.



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LIC Of INDIA

LIC's Bima Account -2 Features & Plan Details

What does LIC's Bima Account - 2 Offer you?
Balance in your Account ( Total investment in regular premium account + Total investment in top up premium account - expenses) on surviving the policy term you have chosen (10 to 15 years),
Sum Insured + Balance in your account ( Total investment in regular premium account till the day of death + Total investment in top up premium account till day of death - expenses till the day of death) in case you do not survive the policy term chosen ( 10 to 15 years)
Guaranteed Interest at 6% per annum on the balance in your account,
Possibility of enhanced interest on the premium account portion of the policy account,
Loan against surrender value at 9.00% per annum simple interest after 1 year from the commencement,
Facility for topping up the premium with additional amount.
Why Should You Invest On LIC's Bima Account-2?
It is a short term plan of 10 to 15 years.
You are assured of a minimum 6% per annum on the balance in your account. In addition, there is a possibility of higher returns on your premium account. But in reality, you are earning more every year, since, more and more amount out of your gross investment is getting transferred to your policy account with reduction in charges towards expenses. Coupled with Section 80C benefit subject to a overall limit of Rs 1 Lakh per annum allowed for various savings and full I.T exemption on the claim amount you receive under section 10(10D) of the I.T Act, you will observe Bima Account 2 as one of the most lucrative investment options you love to explore.
The plan offers quite an impressive life insurance coverage right from day one till day last. In addition, entire balance in the policy account is returned in such an event marking the uniqueness of the plan!
Policy loans available under the plan offer you additional investment facilities without affecting any of the policy privileges.
These are some of the prominent reasons why you should invest on LIC's Bima Account-2) as much as you can.

How long you need to Invest on LIC's Bima Account-2?
10 to 15 years ceasing at death, if it occurs early.
What are the Modes of Investment available under LIC's Bima Account-2?
Yearly, Half-yearly or Quarterly or Monthly.


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