Call us at 9811362697
.PNG "LIC Golden Money Back Best Policy") |
Call us at 9899307833 / 9811362697 |
Friday, June 28, 2013
Tuesday, June 25, 2013
LIC Jeevan Anurag Features & Plan Details
LIC’s Jeevan ANURAG is a with profits plan specifically designed to take care of the educational needs of children. LIC Jeevan Anurag plan can be taken by a parent on his or her own life. Benefits under the plan are payable at prespecified durations irrespective of whether the Life Assured survives to the end of the policy term or dies during the term of the policy. In addition, LIC Jeevan Anurag plan also provides for an immediate payment of Basic Sum Assured amount on death of the Life Assured during the term of the policy.
Assured BenefitPayment of 20% of the Basic Sum Assured at the start of every year during last 3 policy years before maturity. At maturity, 40% of the Basic Sum Assured along with reversionary bonuses declared from time to time on full Sum Assured for the full term and the Terminal bonus, if any shall be payable. For example, if term of the policy is 20 years, 20% of the Sum assured will be payable at the end of the 17th,18th, 19th year and 40% of the Sum Assured along with the reversionary bonuses and the terminal bonus, if any, at the end of the 20th year.
Death Benefit
Payment of an amount equal to Sum Assured under the basic plan immediately on the death of the life assured.
Eligibility Conditions And Other Restrictions
FOR BASIC PLAN
FOR TERM ASSURANCE RIDER
The Term Assurance Rider Sum Assured will be in multiples of Rs.25,000 /-.
FOR CRITICAL ILLNESS RIDER
The Critical Illness Rider Sum Assured will be in multiples of Rs.10,000 /-.
REBATES/EXTRA FOR MODE OF PREMIUM PAYMENT AND HIGH SUM ASSUREDMode rebate: 2% for yearly mode and 1% for half yearly mode on the tabular premium. There are no rebates for quarterly and SSS modes. For monthly mode, 5% extra will be charged on the tabular premium. Large Sum Assured Rebate: Rs. 2%o Sum Assured for Sum Assured Rs.1,05,000/- and above. No rebate for Sum Assured up to and including Rs.1,00,000/-. No rebate is available (either made) on the rider premiums.
The plan offers other benefits as follows:
Grace Period: A grace period of one month but not less than 30 days will be allowed for payment of yearly, half-yearly or quarterly premiums and 15 days for monthly premiums.
15 –days Cooling-off period:If you are not satisfied with the “Terms and Conditions” of the policy you may return the policy to us within 15 days. Paid up Value:
If at least three full years' premiums have been paid in respect of this policy, any subsequent premium be not duly paid, this policy shall not be wholly void, but the Sum Assured by it shall be reduced to such a Sum, called the paid-up value, as shall bear the same ratio to the full Sum Assured as the number of premiums actually paid shall bear to the total number of premiums originally stipulated in the policy. The policy so reduced shall thereafter be free from all liability for payment of the within mentioned premium, but shall not be entitled to the future bonuses. The existing vested reversionary bonuses, if any, will remain attached to the reduced paid-up Policy. The Sum Assured so reduced along with existing bonuses, if any, shall be paid in one single installment on maturity or on earlier death.
The rider benefits will cease to apply if the policy is in lapsed condition.
Once the payment of assured benefit starts, the policy shall be kept in force till maturity and the unpaid premiums, if any, will be deducted with interest at appropriate rate out of the next benefit payment. Loan:
Policy Loan is permissible under the policy after it acquires a paid-up value but before starting of payment of assured benefits. The terms and conditions of loan and the rate of interest applicable will be as fixed by the Corporation from time to time. At present, the rate of interest is 9% p.a. compounding half-yearly. Guaranteed Surrender Value: LIC Jeevan Anurag policy can be surrendered for cash after the policy is kept in force by payment of premiums for at least three years. The guaranteed surrender value allowable under this plan for all modes, except the single premium mode will be equal to 30 per cent of the premiums paid excluding the premiums paid for the first year and all extra premiums and the premiums paid for optional / rider benefits. In case of single premium mode, the guaranteed surrender value will be 90 per cent of the premiums paid excluding all extra premiums and the premiums paid for optional / rider benefits. The cash value of any existing vested bonus additions will also be payable on surrender. Revival: Subject to production of satisfactory evidence of continued insurability, a lapsed policy can be revived by paying arrears of premium together with interest within a period of five years from the due date of first unpaid premium. The rate of interest applicable will be as fixed by the Corporation from time to time. At present the rate of interest is 8% p.a. compounding half-yearly.
OPTIONAL RIDER BENEFITS:
LIC Jeevan Anurag plan offers following optional riders on payment of additional premium and subject to the eligibility conditions mentioned below: Accidental Death and Disability Benefit Accidental Death and Disability Benefit will be available for an amount not exceeding the sum assured under the basic plan subject to overall cover of 25 lakh under all policies of the life assured with the Corporation taken together
Term Assurance Rider Benefit Term assurance rider benefit will be available for an amount not exceeding the sum assured under the basic plan subject to overall cover of 25 lakh under all policies of the life assured with the Corporation taken together.
Critical Illness Rider Benefit Critical Illness Rider Benefit will be available for an amount not exceeding the sum assured under the basic plan subject to overall cover of 5 lakh under all policies of the life assured with the Corporation taken together.
If Premium Waiver Benefit is opted for, then in case of diagnosis by any of the critical illness conditions covered under the policy, the total future premiums in respect of the policy will be waived. Sum Assured under such policies will not exceed Rs 5 lakh.
ACCIDENTAL DEATH AND DISABILITY BENEFIT:
On death arising as a result of accident an additional amount equal to the Accident Benefit Sum Assured is payable. On total and permanent disability arising due to accident (within 180 days from the date of accident) an amount equal to the Accident Benefit Sum Assured will be paid over a period of 10 years in monthly installments. The disability due to accident should be total and such that the Life Assured is unable to carry out any work to earn the living. Following disabilities due to accidents are covered :
i) Irrevocable loss of the entire sight of both eyes, or
ii) amputation of both hands at or above the wrists, or
iii) amputation of both feet at or above ankles, or
iv ) amputation of one hand at or above the wrist and one foot at or above the ankle
ii) engagement in aviation or aeronautics other than that of a passenger in any air craft
iii) injuries resulting from riots, civil commotion, rebellion, war, invasion, hunting, mountaineering, steeple chasing or racing of any kind
iv) accident resulting from committing any breach of law
v) accident arising from employment in armed forces or military services or police organization.
TERM ASSURANCE RIDER BENEFIT: An amount equal to Term Assurance Rider Sum Assured will be payable on death of the life assured during the policy term.
If Premium Waiver Benefit has been opted for , then in case of diagnosis by any of the critical illness conditions covered under the policy, the total future premiums payable (total installment premium) will be waived.
EXCLUSIONS:
LIC Jeevan Anurag policy shall be void if the Life Assured commits suicide (whether sane or insane at the time) at any time on or after the date on which the risk under the policy has commenced but before the expiry of one year from the date of commencement of risk. In case of death due to suicide during this period, the Corporation will not entertain any claim by virtue of this policy except to the extent of a third party’s bona-fide beneficial interest acquired in the policy for valuable consideration of which notice has been given in writing to the office where this policy is serviced, at least one calendar month prior to death.
BENEFIT ILLUSTRATION:
Illustration 1:
Age at entry (Life Assured): 35 years
Policy Term: 25 years
Premium paying term: 25 years
Mode of premium payment: Yearly
Sum Assured: Rs.1,05,000/-
Bonus Assumptions:
Regular Bonus - Rs.21 per thousand S.A at 6% rate of return
Rs.55 per thousand S.A at 10% rate of return
Terminal Bonus - Rs. 170 per thousand S.A at 6% rate of return
Rs. 450 per thousand S.A at 10% rate of return
Annual Premium : Rs.4,606/-
Illustration 2:
Age at entry (Life Assured): 35 years
Policy Term: 25 years
Premium paying term: One
Sum Assured: Rs.1,05,000/-
Bonus Assumptions:
Regular Bonus - Rs.24 per thousand S.A at 6% rate of return
Rs.92 per thousand S.A at 10% rate of return
Terminal Bonus - Rs.200 per thousand S.A at 6% rate of return
Rs.760 per thousand S.A at 10% rate of return
Single Premium: Rs.59,157 /-
EXTRACT from Section 41 of the Insurance Act:
(1) No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy nor shall any person taking out or renewing or continuing a policy accept any rebate except such rebates as may be allowed in accordance with the published prospectuses or tables of the insurer : provided that acceptance by an insurance agent of commission in connection with a policy of life insurance taking out by himself on his own life shall not be deemed to be acceptance the insurance agent satisfies the prescribed conditions establishing that he is a bona fide insurance agent employed by the insurer.
(2) Any person making default in complying with the provisions of this Section shall be punishable with a fine which may extend to Rs.500 / -
Assured BenefitPayment of 20% of the Basic Sum Assured at the start of every year during last 3 policy years before maturity. At maturity, 40% of the Basic Sum Assured along with reversionary bonuses declared from time to time on full Sum Assured for the full term and the Terminal bonus, if any shall be payable. For example, if term of the policy is 20 years, 20% of the Sum assured will be payable at the end of the 17th,18th, 19th year and 40% of the Sum Assured along with the reversionary bonuses and the terminal bonus, if any, at the end of the 20th year.
Death Benefit
Payment of an amount equal to Sum Assured under the basic plan immediately on the death of the life assured.
Eligibility Conditions And Other Restrictions
FOR BASIC PLAN
| Age at entry | Age of the Life Assured- 20 to 60 years (age nearest birthday) |
| Age of the Life Assured at maturity | Maximum 70 years (age nearest birthday) |
| Term | All terms from 10 to 25 years. In case of single premium mode minimum term shall be 5 Years. |
| Minimum Sum Assured | Rs. 50,000 /- |
| Maximum Sum assured | No limit. Sum Assured will be in multiples of Rs.5,000 /- only. |
| Mode | Yearly, Half-yearly, Quarterly, Monthly or through salary deductions in case of regular premiums. |
FOR TERM ASSURANCE RIDER
| Age at entry | Age of the Life Assured- 20 to 50 years (age nearest birthday) |
| Age of the Life Assured at maturity | Maximum 60 years (age nearest birthday) |
| Term | NIL |
| Minimum Sum Assured | Rs. 1,00,000 /- |
| Maximum Sum assured | An amount equal to the Sum Assured under Basic Plan subject to the maximum of Rs. 25 lakh overall limit taking all term assurance riders availed under all existing policies of the life assured and the term assurance rider under the new proposal into consideration. |
| Mode | NIL |
The Term Assurance Rider Sum Assured will be in multiples of Rs.25,000 /-.
FOR CRITICAL ILLNESS RIDER
| Age at entry | Age of the life Assured- 20 to 50 years (age nearest birthday) |
| Age of the Life Assured at maturity | Maximum 60 years (age nearest birthday) |
| Term | NIL |
| Minimum Sum Assured | Rs. 50,000 /- |
| Maximum Sum assured | An amount equal to the Sum Assured under Basic Plan subject to the maximum of Rs. 5 lakh overall limit taking all critical illness riders availed under all existing policies of the life assured and the critical illness rider under the new proposal into consideration. |
| Mode | NIL |
The Critical Illness Rider Sum Assured will be in multiples of Rs.10,000 /-.
REBATES/EXTRA FOR MODE OF PREMIUM PAYMENT AND HIGH SUM ASSUREDMode rebate: 2% for yearly mode and 1% for half yearly mode on the tabular premium. There are no rebates for quarterly and SSS modes. For monthly mode, 5% extra will be charged on the tabular premium. Large Sum Assured Rebate: Rs. 2%o Sum Assured for Sum Assured Rs.1,05,000/- and above. No rebate for Sum Assured up to and including Rs.1,00,000/-. No rebate is available (either made) on the rider premiums.
The plan offers other benefits as follows:
Grace Period: A grace period of one month but not less than 30 days will be allowed for payment of yearly, half-yearly or quarterly premiums and 15 days for monthly premiums.
15 –days Cooling-off period:If you are not satisfied with the “Terms and Conditions” of the policy you may return the policy to us within 15 days. Paid up Value:
If at least three full years' premiums have been paid in respect of this policy, any subsequent premium be not duly paid, this policy shall not be wholly void, but the Sum Assured by it shall be reduced to such a Sum, called the paid-up value, as shall bear the same ratio to the full Sum Assured as the number of premiums actually paid shall bear to the total number of premiums originally stipulated in the policy. The policy so reduced shall thereafter be free from all liability for payment of the within mentioned premium, but shall not be entitled to the future bonuses. The existing vested reversionary bonuses, if any, will remain attached to the reduced paid-up Policy. The Sum Assured so reduced along with existing bonuses, if any, shall be paid in one single installment on maturity or on earlier death.
The rider benefits will cease to apply if the policy is in lapsed condition.
Once the payment of assured benefit starts, the policy shall be kept in force till maturity and the unpaid premiums, if any, will be deducted with interest at appropriate rate out of the next benefit payment. Loan:
Policy Loan is permissible under the policy after it acquires a paid-up value but before starting of payment of assured benefits. The terms and conditions of loan and the rate of interest applicable will be as fixed by the Corporation from time to time. At present, the rate of interest is 9% p.a. compounding half-yearly. Guaranteed Surrender Value: LIC Jeevan Anurag policy can be surrendered for cash after the policy is kept in force by payment of premiums for at least three years. The guaranteed surrender value allowable under this plan for all modes, except the single premium mode will be equal to 30 per cent of the premiums paid excluding the premiums paid for the first year and all extra premiums and the premiums paid for optional / rider benefits. In case of single premium mode, the guaranteed surrender value will be 90 per cent of the premiums paid excluding all extra premiums and the premiums paid for optional / rider benefits. The cash value of any existing vested bonus additions will also be payable on surrender. Revival: Subject to production of satisfactory evidence of continued insurability, a lapsed policy can be revived by paying arrears of premium together with interest within a period of five years from the due date of first unpaid premium. The rate of interest applicable will be as fixed by the Corporation from time to time. At present the rate of interest is 8% p.a. compounding half-yearly.
OPTIONAL RIDER BENEFITS:
LIC Jeevan Anurag plan offers following optional riders on payment of additional premium and subject to the eligibility conditions mentioned below: Accidental Death and Disability Benefit Accidental Death and Disability Benefit will be available for an amount not exceeding the sum assured under the basic plan subject to overall cover of 25 lakh under all policies of the life assured with the Corporation taken together
Term Assurance Rider Benefit Term assurance rider benefit will be available for an amount not exceeding the sum assured under the basic plan subject to overall cover of 25 lakh under all policies of the life assured with the Corporation taken together.
Critical Illness Rider Benefit Critical Illness Rider Benefit will be available for an amount not exceeding the sum assured under the basic plan subject to overall cover of 5 lakh under all policies of the life assured with the Corporation taken together.
If Premium Waiver Benefit is opted for, then in case of diagnosis by any of the critical illness conditions covered under the policy, the total future premiums in respect of the policy will be waived. Sum Assured under such policies will not exceed Rs 5 lakh.
ACCIDENTAL DEATH AND DISABILITY BENEFIT:
On death arising as a result of accident an additional amount equal to the Accident Benefit Sum Assured is payable. On total and permanent disability arising due to accident (within 180 days from the date of accident) an amount equal to the Accident Benefit Sum Assured will be paid over a period of 10 years in monthly installments. The disability due to accident should be total and such that the Life Assured is unable to carry out any work to earn the living. Following disabilities due to accidents are covered :
i) Irrevocable loss of the entire sight of both eyes, or
ii) amputation of both hands at or above the wrists, or
iii) amputation of both feet at or above ankles, or
iv ) amputation of one hand at or above the wrist and one foot at or above the ankle
No benefit will be paid if accidental death or disability arises due to accident in case of:
i) intentional self-injury, attempted suicide insanity or immorality or the Life Assured is under the influence of intoxicating liquor, drug or narcoticii) engagement in aviation or aeronautics other than that of a passenger in any air craft
iii) injuries resulting from riots, civil commotion, rebellion, war, invasion, hunting, mountaineering, steeple chasing or racing of any kind
iv) accident resulting from committing any breach of law
v) accident arising from employment in armed forces or military services or police organization.
TERM ASSURANCE RIDER BENEFIT: An amount equal to Term Assurance Rider Sum Assured will be payable on death of the life assured during the policy term.
If Premium Waiver Benefit has been opted for , then in case of diagnosis by any of the critical illness conditions covered under the policy, the total future premiums payable (total installment premium) will be waived.
EXCLUSIONS:
LIC Jeevan Anurag policy shall be void if the Life Assured commits suicide (whether sane or insane at the time) at any time on or after the date on which the risk under the policy has commenced but before the expiry of one year from the date of commencement of risk. In case of death due to suicide during this period, the Corporation will not entertain any claim by virtue of this policy except to the extent of a third party’s bona-fide beneficial interest acquired in the policy for valuable consideration of which notice has been given in writing to the office where this policy is serviced, at least one calendar month prior to death.
BENEFIT ILLUSTRATION:
Illustration 1:
Age at entry (Life Assured): 35 years
Policy Term: 25 years
Premium paying term: 25 years
Mode of premium payment: Yearly
Sum Assured: Rs.1,05,000/-
Bonus Assumptions:
Regular Bonus - Rs.21 per thousand S.A at 6% rate of return
Rs.55 per thousand S.A at 10% rate of return
Terminal Bonus - Rs. 170 per thousand S.A at 6% rate of return
Rs. 450 per thousand S.A at 10% rate of return
Annual Premium : Rs.4,606/-
Illustration 2:
Age at entry (Life Assured): 35 years
Policy Term: 25 years
Premium paying term: One
Sum Assured: Rs.1,05,000/-
Bonus Assumptions:
Regular Bonus - Rs.24 per thousand S.A at 6% rate of return
Rs.92 per thousand S.A at 10% rate of return
Terminal Bonus - Rs.200 per thousand S.A at 6% rate of return
Rs.760 per thousand S.A at 10% rate of return
Single Premium: Rs.59,157 /-
EXTRACT from Section 41 of the Insurance Act:
(1) No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy nor shall any person taking out or renewing or continuing a policy accept any rebate except such rebates as may be allowed in accordance with the published prospectuses or tables of the insurer : provided that acceptance by an insurance agent of commission in connection with a policy of life insurance taking out by himself on his own life shall not be deemed to be acceptance the insurance agent satisfies the prescribed conditions establishing that he is a bona fide insurance agent employed by the insurer.
(2) Any person making default in complying with the provisions of this Section shall be punishable with a fine which may extend to Rs.500 / -
LIC Komal Jeevan Children Money Back Plan Details & Features
Product summary:
LIC Komal Jeevan is a Children's Money Back Plan that provides financial protection against death during the term of plan with periodic payments on survival at specified durations. LIC Komal Jeevan plan can be purchased by any of the parent or grand parent for a child aged 0 to 10 years.
Commencement of risk cover:
The risk commences either after 2 years from the date of commencement of policy or from the policy anniversary immediately following the completion of 7 years of age of child, whichever is later.
Premiums:
Premiums are payable yearly, half-yearly, quarterly, monthly or through Salary deductions, as opted by you, up to the policy anniversary immediately after the life assured (child) attains 18 years of age or till the earlier death of the life assured. Alternatively, the premium may be paid in one lump sum (Single premium).
Guaranteed Additions:
LIC Komal Jeevan policy provides for Guaranteed Additions at the rate of Rs.75 per thousand Sum Assured for each completed year. The Guaranteed Additions are payable at the end of the term of the policy or earlier death of the Life Assured.
Loyalty Additions:
LIC Komal Jeevan 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 loyalty additions which are terminal bonuses payable along with death or maturity benefit. Loyalty addition may be payable depending on the experience of the Corporation.
Survival Benefit:The percentage of sum assured as mentioned below will be paid on survival to the end of specified durations:
Death Benefit:
In case of death of the life assured before the commencement of risk, the policy shall stand cancelled and premiums paid (excluding the Premium for Premium waiver Benefit ) under the policy will be refunded. However, if death occurs after the commencement of risk but before the policy matures, the full Sum Assured plus Guaranteed Additions together with Loyalty Additions, if any, is payable.
Maturity Benefit:
The Guaranteed Additions together with Loyalty Additions, if any, is payable in a lump sum on survival to the end of the policy term.
Premium Waiver Benefit:
This is an optional benefit that can be added to your basic plan. An additional premium is required to be paid for this benefit. By payment of this additional premium, the proposer can secure the benefit of cessation of premiums from his/her death to the end of the deferment period. The deferment period for this purpose is to be taken as 18 minus age at entry of child.
Surrender Value:
Buying a life insurance contract is a long-term commitment. However, surrender value is available on 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 before the date of commencement of risk is 90% of the premiums paid excluding the premiums paid during the first year and any extra premium paid. After the date of commencement of risk, the Guaranteed Surrender Value is 90% of the premiums paid before the date of commencement of risk excluding the premiums paid during the first year and any extra premium paid plus 30% of the premiums paid after the date of commencement of risk.
Corporation’s policy on surrenders:
In practice, the company will pay a Special Surrender Value – which is either equal to or more than the Guaranteed Surrender Value. The benefit payable on surrender reflects the discounted value of the claim amount that would be payable on death or at maturity. This value will depend on the duration for which premiums have been paid and the policy at the date of surrender. 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 payable under its plans from time to time depending on the economic environment, experience and other factors.
Illustration 1
Age at entry: 0 years
Premium Paying Term: 18
Years Annual Premium: Rs. 7281/-
Policy Term: 26 Years
Sum Assured: Rs. 1,00,000 /-
Illustration 2Age at entry: 0 years
Premium Paying Term: 1 Year
Single Premium: Rs. 73,980/- Policy Term: 26 years
Sum Assured: Rs. 1,00,000/-
LIC Komal Jeevan is a Children's Money Back Plan that provides financial protection against death during the term of plan with periodic payments on survival at specified durations. LIC Komal Jeevan plan can be purchased by any of the parent or grand parent for a child aged 0 to 10 years.
Commencement of risk cover:
The risk commences either after 2 years from the date of commencement of policy or from the policy anniversary immediately following the completion of 7 years of age of child, whichever is later.
Premiums:
Premiums are payable yearly, half-yearly, quarterly, monthly or through Salary deductions, as opted by you, up to the policy anniversary immediately after the life assured (child) attains 18 years of age or till the earlier death of the life assured. Alternatively, the premium may be paid in one lump sum (Single premium).
Guaranteed Additions:
LIC Komal Jeevan policy provides for Guaranteed Additions at the rate of Rs.75 per thousand Sum Assured for each completed year. The Guaranteed Additions are payable at the end of the term of the policy or earlier death of the Life Assured.
Loyalty Additions:
LIC Komal Jeevan 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 loyalty additions which are terminal bonuses payable along with death or maturity benefit. Loyalty addition may be payable depending on the experience of the Corporation.
Survival Benefit:The percentage of sum assured as mentioned below will be paid on survival to the end of specified durations:
| On the policy anniversary immediately following the Life assured attains the age of | % of Sum Assured |
| 18 years | 20% |
| 20 years | 20% |
| 22 years | 30% |
| 24 years | 30% |
Death Benefit:
In case of death of the life assured before the commencement of risk, the policy shall stand cancelled and premiums paid (excluding the Premium for Premium waiver Benefit ) under the policy will be refunded. However, if death occurs after the commencement of risk but before the policy matures, the full Sum Assured plus Guaranteed Additions together with Loyalty Additions, if any, is payable.
Maturity Benefit:
The Guaranteed Additions together with Loyalty Additions, if any, is payable in a lump sum on survival to the end of the policy term.
Premium Waiver Benefit:
This is an optional benefit that can be added to your basic plan. An additional premium is required to be paid for this benefit. By payment of this additional premium, the proposer can secure the benefit of cessation of premiums from his/her death to the end of the deferment period. The deferment period for this purpose is to be taken as 18 minus age at entry of child.
Surrender Value:
Buying a life insurance contract is a long-term commitment. However, surrender value is available on 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 before the date of commencement of risk is 90% of the premiums paid excluding the premiums paid during the first year and any extra premium paid. After the date of commencement of risk, the Guaranteed Surrender Value is 90% of the premiums paid before the date of commencement of risk excluding the premiums paid during the first year and any extra premium paid plus 30% of the premiums paid after the date of commencement of risk.
Corporation’s policy on surrenders:
In practice, the company will pay a Special Surrender Value – which is either equal to or more than the Guaranteed Surrender Value. The benefit payable on surrender reflects the discounted value of the claim amount that would be payable on death or at maturity. This value will depend on the duration for which premiums have been paid and the policy at the date of surrender. 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 payable under its plans from time to time depending on the economic environment, experience and other factors.
Illustration 1
Age at entry: 0 years
Premium Paying Term: 18
Years Annual Premium: Rs. 7281/-
Policy Term: 26 Years
Sum Assured: Rs. 1,00,000 /-
Illustration 2Age at entry: 0 years
Premium Paying Term: 1 Year
Single Premium: Rs. 73,980/- Policy Term: 26 years
Sum Assured: Rs. 1,00,000/-
Wednesday, June 19, 2013
Friday, June 14, 2013
Thursday, June 6, 2013
Wednesday, May 29, 2013
Friday, May 17, 2013
LIC Jeevan Tarang Features & Plan Details
What does LIC's Jeevan Tarang Offer you?
Cash value of bonus on the full sum insured + Annual
Installments @ 5.5% of the sum insured up to your 100 years of age + Sum
Insured whenever you are not alive instead of annual installments, without any
deduction towards installments already paid + Loyalty Addition if any, on your
surviving the premium payment term you have chosen (10 or 15 or 20 years),
Sum Insured + Bonus accrued in case you do not outlive the
premium payment term you have chosen ( 10 or 15 or 20 years)
Loan against surrender value at 9.00% per annum simple
interest,
Additional sum equal to face value but not exceeding Rs 50
Lakhs in case of fatal accident against a small extra,
Premium waiver in addition to the above accident benefit in
case of Total and Permanent Disability due to Accident against a small extra,
Term Cover Rider against extra
Why Should You Invest On LIC's Jeevan Tarang?
Under this plan, your nominee is assured of the face value
of the policy on your death whenever it occurs within your 100 years of age.
Your premium payment however is limited only for the term chosen (10 or 15 or
20 years).
You are assured of a regular annual income as long as you
are alive up to a maximum of 100 years of age, once you outlive the premium
payment term you have chosen. By going for LIC's Jeevan Tarang every month, you
can reduce the frequency of annual installments to monthly also.
From income-tax point of value also, you stand to gain quite
a bit through LIC's Jeevan Tarang investment. While the premium paid qualifies
for Section 80 C benefit within the overall limit of Rs 1 Lakh per annum
allowed for various savings, annual installments received as above are free
from income-tax, since they are nothing but settlement options on the sum
insured exercised by you. In other words, under LIC's Jeevan Tarang, you are
assured of a tax-free annuity @5.5% of the sum you have insured for rest of
your life, once you outlive the PPT chosen.
Bonus available before commencement of Annuity can be
profitably invested to fetch you income additional to annuity installments
available under 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 Jeevan Tarang as much
as you can.
How long you need to Invest on LIC's Jeevan Tarang?
How long you need to Invest on LIC's Jeevan Tarang?
10 or 15 or 20 years ceasing at death, if it occurs early.
What are the Modes of Investment available under LIC's
Jeevan Tarang?
Single, Yearly, Half-yearly or quarterly or monthly.
Want to know more about LIC's Jeevan Tarang or
want to invest on the plan?
Call us at 9899307833 / 9811362697 or write us at everyoneinusred@gmail.com
Leave a comment on these posts (we LOVE comments) »
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.
Leave a comment on these posts (we LOVE comments) »
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?
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.
Leave a comment on these posts (we LOVE comments) »
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?
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.
Leave a comment on these posts (we LOVE comments) »
Wednesday, May 15, 2013
LIC Health Insurance Jeevan Arogya
What is Jeevan Arogya?
It is LIC’s family Medical Insurance Plan.
Whom All I can cover under Jeevan Arogya?
Yourself (Known as Principal Insured), Your Spouse, all your family members including dependent parents and parents-in-law in the age group 0-75.
Is there any Maturity or Death Benefit under Jeevan Arogya?
What is the Mandatory requirement for claiming Medical Benefits under Jeevan Arogya? Hospitalization in India due to either accident or sickness for at least 24 hours, every block of 4 hours deemed as 1 day.
What is the basis of calculating Medical Benefits under Jeevan Arogya?
Hospital Cash Benefit (HCB) you opt for at the time of entering the plan. It can be anything between Rs 1, 000/- to Rs 4, 000/- per day (in multiples of Rs 1,000).
What are the eventualities covered under Jeevan Arogya?
Hospitalization as above. No surgery: Cash reimbursement equal to Applicable Daily Benefit (ADB) x No of day's hospitalization.
ICU admission:
Cash reimbursement equal to double the ADB.
Listed Surgical Procedures:
Cash reimbursement equal to 2 times the ADB subject to a maximum of 45 days in a year or 360 days during the entire policy term (15 days - First Year).
Listed Day Care Procedures: 5 times the ADB applicable regardless of the actual costs incurred not exceeding 3 times in a year and 24 times in the entire policy term.
What is `Applicable Daily Benefit' (ADB)' referred to under Jeevan Arogya?
It is the sum total of HCB you have opted for at the commencement of the plan + 5% of the HCB you earn every year subsequent to first year reaching a maximum of additional 50% of the initial HCB + 5% of the HCB you earn at the end of every 3 years in case you have not claimed any amount under the plan for previous 3 years, without any limit.
How long I need to pay premium under Jeevan Arogya?
Upto age 80, if the age at entry is 18-75 years, Upto age 25, if the age at entry is 0-17.
Does premium under Jeevan Arogya remains same throughout the premium payment term or will it keep varying?
It keeps varying once in 3 years.
Is there any Income-Tax Benefit on Jeevan Arogya Premium?
Yes, Premium paid every year enjoys I.T exemption under section 80 D within the statutory limit for medical insurance premium up to Rs 15,000/- per annum in case of individuals and Rs 30,000/- for the family members.
Does Jeevan Arogya offer any Cash-less facility?
No.
What is so special about Jeevan Arogya?
This is one plan where,You get medical coverage up to age 80 without any interruption, provided, policy is kept in force by premium payment in time. You can cover all your family members including your parents and parents- in law in the age group 0-75. Medical reimbursement available under the plan is independent of the actual medical expenses incurred. Mere hospitalization followed by discharge certificate is enough to claim medical reimbursement unlike Mediclaim plans where medical reimbursement is directly related to the actual expenses claimed by your hospital. As a result, unlike Mediclaim Plans, Jeevan Arogya takes care of your post treatment expenses and possible drop in your income especially during prolonged illness.
You can draw up to 50% of the claim amount in advance for meeting surgical procedures instead of waiting for the claim settlement. ADB keeps increasing every year by 5%, reaching a maximum of 150%. As a result, other benefits like HCB and MSB sum also stand increased. You can claim HCB every year upto 30 days at a stretch that includes 15 days in ICU or as a lifetime benefit up to 720 days that includes 360 days in ICU.
It provides you premium waiver for next 1 year in case of your undergoing major surgical procedures.
Jeevan Arogya investment as an additional benefit, even if you have invested in General Insurance Companies' Mediclaim plans Infact, a combination of Jeevan Arogya Mediclaim could be the best way of providing for medical exigencies. While Mediclaim provides for Medical Expenses during treatment, Jeevan Arogya takes care of your monetary requirement after treatment.
Leave a comment on these posts (we LOVE comments) »
It is LIC’s family Medical Insurance Plan.
Whom All I can cover under Jeevan Arogya?
Yourself (Known as Principal Insured), Your Spouse, all your family members including dependent parents and parents-in-law in the age group 0-75.
Is there any Maturity or Death Benefit under Jeevan Arogya?
What is the Mandatory requirement for claiming Medical Benefits under Jeevan Arogya? Hospitalization in India due to either accident or sickness for at least 24 hours, every block of 4 hours deemed as 1 day.
What is the basis of calculating Medical Benefits under Jeevan Arogya?
Hospital Cash Benefit (HCB) you opt for at the time of entering the plan. It can be anything between Rs 1, 000/- to Rs 4, 000/- per day (in multiples of Rs 1,000).
What are the eventualities covered under Jeevan Arogya?
Hospitalization as above. No surgery: Cash reimbursement equal to Applicable Daily Benefit (ADB) x No of day's hospitalization.
ICU admission:
Cash reimbursement equal to double the ADB.
Listed Surgical Procedures:
Cash reimbursement equal to 2 times the ADB subject to a maximum of 45 days in a year or 360 days during the entire policy term (15 days - First Year).
Listed Day Care Procedures: 5 times the ADB applicable regardless of the actual costs incurred not exceeding 3 times in a year and 24 times in the entire policy term.
What is `Applicable Daily Benefit' (ADB)' referred to under Jeevan Arogya?
It is the sum total of HCB you have opted for at the commencement of the plan + 5% of the HCB you earn every year subsequent to first year reaching a maximum of additional 50% of the initial HCB + 5% of the HCB you earn at the end of every 3 years in case you have not claimed any amount under the plan for previous 3 years, without any limit.
How long I need to pay premium under Jeevan Arogya?
Upto age 80, if the age at entry is 18-75 years, Upto age 25, if the age at entry is 0-17.
Does premium under Jeevan Arogya remains same throughout the premium payment term or will it keep varying?
It keeps varying once in 3 years.
Is there any Income-Tax Benefit on Jeevan Arogya Premium?
Yes, Premium paid every year enjoys I.T exemption under section 80 D within the statutory limit for medical insurance premium up to Rs 15,000/- per annum in case of individuals and Rs 30,000/- for the family members.
Does Jeevan Arogya offer any Cash-less facility?
No.
What is so special about Jeevan Arogya?
This is one plan where,You get medical coverage up to age 80 without any interruption, provided, policy is kept in force by premium payment in time. You can cover all your family members including your parents and parents- in law in the age group 0-75. Medical reimbursement available under the plan is independent of the actual medical expenses incurred. Mere hospitalization followed by discharge certificate is enough to claim medical reimbursement unlike Mediclaim plans where medical reimbursement is directly related to the actual expenses claimed by your hospital. As a result, unlike Mediclaim Plans, Jeevan Arogya takes care of your post treatment expenses and possible drop in your income especially during prolonged illness.
You can draw up to 50% of the claim amount in advance for meeting surgical procedures instead of waiting for the claim settlement. ADB keeps increasing every year by 5%, reaching a maximum of 150%. As a result, other benefits like HCB and MSB sum also stand increased. You can claim HCB every year upto 30 days at a stretch that includes 15 days in ICU or as a lifetime benefit up to 720 days that includes 360 days in ICU.
It provides you premium waiver for next 1 year in case of your undergoing major surgical procedures.
Jeevan Arogya investment as an additional benefit, even if you have invested in General Insurance Companies' Mediclaim plans Infact, a combination of Jeevan Arogya Mediclaim could be the best way of providing for medical exigencies. While Mediclaim provides for Medical Expenses during treatment, Jeevan Arogya takes care of your monetary requirement after treatment.
Leave a comment on these posts (we LOVE comments) »
Tuesday, April 30, 2013
About LIC and various LIC Products
|
INSURANCE PLANS
As individuals it is inherent to differ. Each individual's insurance needs and requirements are different from that of the others. LIC's Insurance Plans are policies that talk to you individually and give you the most suitable options that can fit your requirement.
- Child Plan
- Endowment Plan
- Money Back
- Single Premium
- Term Plan
- Pension Plan
- ULIP Plan
- Health Plan
- Travel Insurance
- Calculator
- Closed Plans
- Golden Money Back Policy
- Children's Plan
- Jeevan Anand
- Jeevan Sathi
- Jeevan Tarang
- Jeevan Mithra (Triple Benefit)
- Bima Account -1
- Bima Account -2
- Jeevan Chhaya - 103
- Jeevan Kishore - 102
- Child Future 185
- Child Fortune Plus - 194
- Child Career 184
- Jeevan Saral ATM Plan table no 165
- Jeevan Surabhi (Money Back)
- Jeevan Anurag 168
- Jeevan Anurag
- Komal Jeevan
- Top 10 reasons for Jeevan Nidhi
- Top 10 reason for Jeevan Pramukh
- Health Protection Plus
- Jeevan Saral ATM Plan 825
- Lic Varishtha Pension Bima Yojana Plan 828
- Jeevan Shagun Plan 826
- Jeevan Sangam Plan 831
- Jeevan Sagar Plan 839
- How to Become LIC Agent In Delhi NCR
- Jeevan Shikhar Plan 837
- LIC Jeevan Saral
Leave a comment on these posts (we LOVE comments) »
Monday, April 8, 2013
LIC Jeevan Anand Plan Details & Features
LIC Jeevan Anand Plan Details & Features - LIC Jeevan Anand is an endowment cum whole life policy along with bonus facility. LIC Jeevan Anand is a double death benefit plan if the life insured survives till the end of the policy term. LIC Jeevan Anand has average premium, high rate of bonus and great liquidity features.
What Insured receives: Any Individual who takes LIC Jeevan Anand, receives the Sum Assured with Bonus as maturity benefit but the cover continues till his death. An additional Sum insured is paid whenever the Insured dies.
So LIC Jeevan Anand is both an Endowment plan and a whole life plan. In case the insured dies in Jeevan Anand policy tenure the entire sum assured with Bonus is paid to the nominee and policy would terminate. An additional accidental death and disability benefit is payable under Jeevan Anand till 70 years of age.
Why to buy Jeevan Anand: Jeevan Anand is amazing plan for guaranteed returns with high coverage and suits people who do not want to take much risk in their lives . Also the coverage continues till death.
Key Features of LIC Jeevan Anand:
LIC Jeevan Anand is a Endowment cum Whole life plan.
Maturity benefit is Sum Assured + Bonus and the life cover continues till death.
Death benefit after policy maturity is only Sum Assured.
Death benefit before policy maturity is Sum Assured + Accured bonus.
Simple reversionary bonus is payable on maturity or earlier death under Jeevan Anand.
Accidental death and disability benefit is an inbuilt feature of Jeevan Anand plan.
Jeevan Anand provides critical Illness benefit.
In Jeevan Anand plan additional premium can be given to people with hazardous occupation.
Benefits Of LIC Jeevan Anand
Income Tax Benefit under section 80C :
Life Insurance premiums paid under for Jeevan Anand, is allowed as a deduction from the taxable income each year under section 80C up to Rs. 1,00,000.
The maturity amount you get under LIC Jeevan Anand is also tax free under section 10(10)D provided all conditions have been fulfilled.
Death Benefit under Jeevan Anand:
In case of death of the Life Insured of Jeevan Anand
· Before the end of the Policy Term, the Sum Assured + accrued Bonus is paid
· After the Policy Term, Sum Assured is paid as Death Benefit whenever the Life Insured dies.
· Before the end of the Policy Term, the Sum Assured + accrued Bonus is paid
· After the Policy Term, Sum Assured is paid as Death Benefit whenever the Life Insured dies.
Maturity Benefit of Jeevan Anand:
At the maturity of the Jeevan Anand policy, the insured will get Sum Assured + accrued Bonus + Final Additional Bonus
Additional Features & Benefits of LIC Jeevan Anand Plan
There are 2 in built riders available under LIC Jeevan Anand:
Accidental death benefit rider – an additional sum assured is paid if death is due to accident till 70 years of age.
Accidental disability benefit rider- additional sum assured is payable in installments. Additional rider available : Critical Illness rider.
Leave a comment on these posts (we LOVE comments) »
Leave a comment on these posts (we LOVE comments) »
Friday, March 1, 2013
LIC Children's Plan Details & Features
LIC Child plan are design to give good and financially secured life to your child. LIC Children plan gives you option to choose to fit your need, such as listed in below list.
It is the Premium Waiver advantage that secures your child upcoming if something unlucky happens to you. This makes them interesting, and a worth investing your money.
LIC Child Plan Currently Available Products to Purchase
1) LIC Jeevan Anurag – LIC Jeevan Anurag is plan designed for the children educational requirements. This plan can be taken on the parent’s life. The basic sum assured is given immediately on the death of the life assured during the term of the policy.
2) LIC Jeevan Kishore – LIC Jeevan Kishore is a plan which can be availed by the parent or grand parents of the children. It is an endowment assurance plan for children of less than 12 years of age.
3) LIC Jeevan Chhaya – LIC Jeevan Chhaya is a plan where financial protection is given against death during the term of the plan. LIC Jeevan Chhaya is an Endowment Assurance plan. Besides this benefit one-fourth of Sum Assured is payable at the end of each of last four years of policy term irrespective if the life assured dies or survives the duration of the policy.
4) LIC Komal Jeevan – LIC Komal Jeevan a Money Back Plan which can be bought by the parent or grand parent for their child from the age of 0-10years. LIC Komal Jeevan plan gives financial protection against death during the duration of the plan with periodic payments on survival at specified durations.
5) LIC Child Future Plan – LIC Child Future Plan is a policy where the future needs like education, marriage and other requirements are taken care of. This plan provides a benefit which not only takes care of the risk cover of the child during the policy but also after 7 years of the policy being expired.
6) LIC Child Career Plan – LIC Child Future plan is to meet the educational and other needs of the child. It provides the risk cover on the life of child during the policy term as well as 7 years after the policy has expired. There are also Survival benefits given to the life assured at the end of a specific duration.
7) LIC Children's Deferred Endowment (CDA) Vesting at 21 – This is an Endowment Assurance plan designed to enable a parent , legal guardian or any near relative of the child to provide insurance cover on the life of the child (called life assured).
8 ) LIC Children's Deferred Endowment (CDA) Vesting at 18 – This is an Endowment Assurance plan designed to enable a parent, legal guardian or any near relative of the child to provide insurance cover on the life of the child (called life assured).
Leave a comment on these posts (we LOVE comments) »
It is the Premium Waiver advantage that secures your child upcoming if something unlucky happens to you. This makes them interesting, and a worth investing your money.
LIC Child Plan Currently Available Products to Purchase
1) LIC Jeevan Anurag – LIC Jeevan Anurag is plan designed for the children educational requirements. This plan can be taken on the parent’s life. The basic sum assured is given immediately on the death of the life assured during the term of the policy.
2) LIC Jeevan Kishore – LIC Jeevan Kishore is a plan which can be availed by the parent or grand parents of the children. It is an endowment assurance plan for children of less than 12 years of age.
3) LIC Jeevan Chhaya – LIC Jeevan Chhaya is a plan where financial protection is given against death during the term of the plan. LIC Jeevan Chhaya is an Endowment Assurance plan. Besides this benefit one-fourth of Sum Assured is payable at the end of each of last four years of policy term irrespective if the life assured dies or survives the duration of the policy.
4) LIC Komal Jeevan – LIC Komal Jeevan a Money Back Plan which can be bought by the parent or grand parent for their child from the age of 0-10years. LIC Komal Jeevan plan gives financial protection against death during the duration of the plan with periodic payments on survival at specified durations.
5) LIC Child Future Plan – LIC Child Future Plan is a policy where the future needs like education, marriage and other requirements are taken care of. This plan provides a benefit which not only takes care of the risk cover of the child during the policy but also after 7 years of the policy being expired.
6) LIC Child Career Plan – LIC Child Future plan is to meet the educational and other needs of the child. It provides the risk cover on the life of child during the policy term as well as 7 years after the policy has expired. There are also Survival benefits given to the life assured at the end of a specific duration.
7) LIC Children's Deferred Endowment (CDA) Vesting at 21 – This is an Endowment Assurance plan designed to enable a parent , legal guardian or any near relative of the child to provide insurance cover on the life of the child (called life assured).
8 ) LIC Children's Deferred Endowment (CDA) Vesting at 18 – This is an Endowment Assurance plan designed to enable a parent, legal guardian or any near relative of the child to provide insurance cover on the life of the child (called life assured).
Leave a comment on these posts (we LOVE comments) »
Subscribe to:
Posts
(
Atom
)