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.

LIC NEW MONEY BACK PLAN-20 YEARS

LIC's New Money Back Plan-20 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      :  50 years (nearest birthday)

Maximum Maturity Age for Life Assured     :  70 years (nearest birthday)

Term                                                           :  20 years

Premium paying term            (PPT)              :  15 years

Premium paying modes:                   Yearly, Half-yearly, Quarterly and Monthly mode.

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

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.

Investment in Mutual Fund

A mutual fund is a professionally managed trust that pools the savings of many investors and invest in stocks, bonds, short-term money market instruments and commodities such as precious metals. Investors have a common financial goal to invest in mutual fund and their money is invested in different assets according to the mutual fund objective. Mutual fund provides advantage of professional management to the retail investors.

A mutual fund company collects money from investors and invests it in various securities like Stocks, Bonds and other market instruments. Mutual fund is managed by professionals who understand the market very well and try to accomplish growth by making strategic investments. Investors get units of the mutual fund according to the amount they have invested. The Asset Management Company is responsible for managing the investments for the various schemes operated by the mutual fund.