Showing posts with label Insurance. Show all posts
Showing posts with label Insurance. Show all posts

Tuesday 1 March 2016

LIC Jeevan Labh – Features and Benefits



Life Insurance Corporation of India (LIC) recently announced new endowment plan on 4th January which is called name as LIC Jeevan Labh Plan under the Table no. 836.
LIC's Jeevan Labh is a limited premium paying, non-linked, with-profits endowment plan which offers a combination of protection and savings. This plan provides financial support for the family in case of unfortunate death of the policyholder any time before maturity and a lump sum amount at the time of maturity for the surviving policyholder. This plan also takes care of liquidity needs through its loan facility.
Example If policy term 16 has selected then Policyholder have to paid only 10 years time premium and maturity amount will be paid after the 16 Years of Completion

Also see Other Lic Plan: - Jeevan Lakshya, New MoneyBack Plan

Saturday 24 October 2015

Tax Benefits of Life and Health Insurance Policies in India



Insurance policies whether it is Life Insurance or Health Insurance, not only safeguard your life and health but also give you tax benefits for the premium paid and maturity amount received. The first step of a financial planning start with getting yourself adequately insured.

Life Insurance Policy is a traditional plan which includes term plans, ULIPS (unit linked insurance plans), money back and whole life cover plan. All the above plans are combination of investment as well as insurance except term plan which gives you pure insurance. 

Thursday 17 September 2015

Details about Term Life Insurance Policy



Term life insurance is life insurance that provides protection at a fixed rate of payments for a specific period of time, the relevant term and pays benefit only if you die during that period of time. If the life insured dies during the term, the death benefit will be paid to the beneficiary. 

One of the biggest advantages of term insurance is its lower premium as compared to endowment insurance because term insurance does not acquire any cash value and at the end of term, policy will not have any value. In term insurance you are paying for death benefit, if you die during the term then benefit will be paid to the beneficiary.

Term insurance is a good option for young people with high level of protection of life with low premium. In this way they can ensure family’s financial independence in the event of your unfortunate demise or critical illness. One thing must remember while taking term insurance that term insurance should be taken as early as possible and have long period of time or term.  So that you have to pay lower premium. If you take short period of time or term and after end of that term, you choose to take term insurance again then you have to pay more premium as compared to previous for similar amount of coverage. 

Read LIC Term Insurance plan Anmol Jeevan II

Wednesday 16 September 2015

LIC Term Plan - Anmol Jeevan II

LIC’s Anmol Jeevan - II is a protection plan which provides financial protection to the insured’s family in case of his/her unfortunate demise.

Eligibility Conditions:-
Minimum Sum Assured          :   Rs. 6,00,000
Maximum Sum Assured         :   Rs. 24,00,000
(The Sum Assured shall be in multiples of Rs. 1, 00,000/-)
Minimum age at entry             :  18 years (completed)
Maximum age at entry            :  55 years (nearest birthday)
Maximum cover ceasing age             :  65 years (nearest birthday)
Minimum policy term              :  5 years
Maximum policy term            :  25 years

Wednesday 5 August 2015

LIC Jeevan Akshay VI – Pension Plan



Jeevan Akshay VI plan is an Immediate Annuity plan, which can be purchased by paying a lump sum amount. The plan provides for annuity payments of a stated amount throughout the life time of the annuitant. Various options are available for the type and mode of payment of annuities.

The following options are available under the plan
Type of Annuity:
1.       Annuity payable for life at a uniform rate.
2.       Annuity payable for 5, 10, 15 or 20 years certain and thereafter as long as the annuitant is alive.

Saturday 20 June 2015

Reliance Child Education Plan



Reliance Life Insurance Company launched a new child insurance plan - Reliance Education Plan. This Plan is a non-linked, non-participating, specialist child insurance plan that provides assured payouts for financing a child's education and securing their future. This plan helps parents save for child's career milestones and provide them with the security of future income.

  • Guaranteed achievement of your child’s future dream: Receive guaranteed benefits at maturity of the policy, even in your absence 
  • Choose your benefit Payout Option
    1. Self Starter: A single lump sum for your child’s ambition
    2. Post Graduation Degree: 2 annual payouts for your child’s post-graduation
    3. Professional Degree: 4 annual payouts for your child’s professional degree
    4. Career Starter: 5 annual payouts to fund your child’s higher education and provide a career launch pad

Thursday 18 June 2015

LIC JEEVAN RAKSHAK



LIC's Jeevan Rakshak Plan is a participating non-linked plan which offers a combination of protection and savings. This plan provides financial support for the family in case of unfortunate death of the policyholder any time before maturity and a lump sum amount at the time of maturity for the surviving policyholder. This plan also takes care of liquidity needs through its loan facility.

Eligibility Conditions and Other Restrictions:
Minimum Basic Sum Assured per life*        :   Rs. 75,000
Maximum Basic Sum Assured per life*       :   Rs. 200,000
(The Basic Sum Assured shall be in multiples of Rs. 5000/-)
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)
Premium paying modes:             Yearly, Half-yearly, Quarterly and Monthly mode.

Monday 18 May 2015

LIC JEEVAN TARUN – New Child Plan


LIC's JEEVAN TARUN is a participating non-linked limited premium payment plan which offers an attractive combination of protection and saving features for children. This plan is specially designed to meet the educational and other needs of growing children through annual Survival Benefit payments from ages 20 to 24 years and Maturity Benefit at the age of 25 years. It is a flexible plan wherein at proposal stage the proposer can choose the proportion of Survival Benefits to be availed during the term of the policy as per the following four options:

Option
Survival Benefit
Maturity Benefit
Option 1
No survival benefit
100% of Sum Assured
Option 2
5% of Sum Assured every year for 5 years
75% of Sum Assured
Option 3
10% of Sum Assured every year for 5 years
50% of Sum Assured
Option 4
15% of Sum Assured every year for 5 years
25% of Sum Assured

Eligibility Conditions and Other Restriction:  
Minimum Sum Assured                             : Rs. 75,000
Maximum Sum Assured                           : No Limit
(The Sum Assured shall be in multiples of Rs. 5,000 from Sum Assured Rs. 75,000 to Rs. 100,000 and Rs. 10,000/- for Sum Assured above Rs 100,000)

Minimum Age at entry                               : [90] days  (last birthday)
Maximum Age at entry                              : [12] years (last birthday)
Minimum/ Maximum Maturity Age             : [25] years (last birthday)      
Policy Term                                               : [25 – Age at entry] years
Premium Paying Term (PPT)                      : [20 – Age at entry] years
Premium paying modes                               :Yearly, Half-yearly, Quarterly and Monthly mode.
However, a grace period of one month but not less than 30 days will be allowed for yearly, half-yearly, quarterly modes and 15 days for monthly mode of premium payment.
 
The plan can be purchased by any of the parent or grand parent for a child aged 0 to 12 years.

LIC NEW MONEY BACK PLAN-25 YEARS



LIC's New Money Back Plan-25 years is a participating non-linked plan which offers an attractive combination of protection against death throughout the term of the plan along with the periodic payment on survival at specified durations during the term. This unique combination provides financial support for the family of the deceased policyholder any time before maturity and lump sum amount at the time of maturity for the surviving policyholders. This plan also takes care of liquidity needs through its loan facility.

Eligibility Conditions and Other Restrictions:
Minimum Basic Sum Assured                       :   Rs. 100,000
Maximum Basic Sum Assured                      :   No Limit
(The Basic Sum Assured shall be in multiples of Rs. 5000/-)
Minimum Age at entry for Life Assured         :  13 years (completed)
Maximum Age at entry for Life Assured        :  45 years (nearest birthday)
Maximum Maturity Age for Life Assured      :  70 years (nearest birthday)
Term                                                            :  25 years
Premium paying term                                    :  20 years
Premium paying modes                                 : Yearly, Half-yearly, Quarterly and Monthly mode.

However, a grace period of one month but not less than 30 days will be allowed for yearly, half-yearly, quarterly modes and 15 days for monthly mode of premium payment.

Thursday 14 May 2015

LIC JEEVAN SANGAM



LIC’s Jeevan Sangam is a participating, non-linked, savings cum protection single premium plan wherein the risk cover is a multiple of single premium. The proposer will have an option to choose the Maturity Sum Assured. The single premium payable (exclusive of service tax) shall depend on the chosen amount of Maturity Sum Assured and age of the life assured.
The plan will be open for sale for a maximum period of 90 days from the date of launch (1st June 2015).
ELIGIBILITY CONDITIONS AND OTHER RESTRICTIONS:
Minimum Entry Age                                         : 6 years (completed)
Maximum Entry Age                                         : 50 years (nearest birthday)
Minimum/Maximum Basic Sum Assured       : 10 times of tabular single premium                                                                                  
Minimum Maturity Sum Assured                    : Rs. 75,000/-
Maximum Maturity Sum Assured                   : No Limit
Policy Term                                                      :   12 years
Premium payment mode                                   : Single premium only
Date of commencement of risk: In case the age at entry of the Life assured is less than 8 years, the risk under this plan will commence from one day before the policy anniversary coinciding with or immediately following the age of 8 years.
For those aged 8 years or more, risk will commence immediately.
Policy Benefits:
On death during first five policy years:
Before the date of commencement of risk: Refund of single premium excluding service tax and extra premium, if any, without interest.
 After the date of commencement of risk: Basic Sum assured i.e. 10 times the tabular single premium shall be payable.
On death after completion of five policy years but before the stipulated Date of Maturity:
 Basic Sum assured i.e. 10 times the tabular single premium along with Loyalty Addition, if any, shall be payable.
Maturity Benefit:
On maturity, the Maturity Sum Assured along with Loyalty Addition, if any, shall be payable.


For more details visit your nearest LIC branch or email at: sushilshm2010@gmail.com  
Call: 0- 80581 89360