Sunday, 17 May 2015

LIC'S JEEVAN TARUN - 834

LIC's Jeevan Tarun Plan is non-linked, with-profits, Limited premium payment plan specially designed to meet the educational and other needs of growing children.
LIC Jeevan Tarun Plan Eligibility and Other Features:
Minimum Entry Age: 90 days
Maximum Entry Age: 12 years
Minimum/Maximum Maturity Age: 25 years
Policy term: 25 years – Age at entry (years)
Premium Paying Term: 20 years – Age at entry (years)
Minimum Sum Assured: Rs.75,000/-
Maximum Sum Assured: No limit
Premium Payment Mode: All Modes
Premium Waiver Benefit Rider: Available
Proposer’s Minimum Age: 18 years
Proposer’s Maximum Age: 55 years
Policy Benefits :
Benefits payable on death:
On death before the date of Commencement of risk: total amount of Premiums paid, extra premium and rider Premiums (if any) as Death benefit.
On death after the date of Commencement of risk: Sum Assured on death + Vested Simple Reversionary bonuses and Final Additional Bonus (if any) as Death benefit.

Note: Sum Assured on death defined as higher of 10 times AP (Annualized premium) or absolute amount assured to be paid on death i.e., 125% of Sum assured.
This death benefit shall not be less than 105% of total premiums paid as on date of death.
On Survival : Benefits are payable in the last five years of policy term. Based on the option selected by policy holder, every year the Policy holder will get a fixed percentage of the sum assured. LIC Jeevan Tarun Policy No.834 will have following options of Survival benefits :-
 
Surrendered Value : The policy can be surrendered at any time during the policy term provided premiums have been paid for full three years.
Loan : Loan facility is available under this plan after the payment of premiums for atleast three full years.
Income Tax Benefit :
• Premium paid under this plan is eligible for TAX rebate under section 80c.
• Maturity under this plan is free under sec 10(10D).
More Details... or Call 9990286759

Thursday, 12 March 2015

LIC'S JEEVAN LAKSHYA - 833

LIC's Jeevan Lakshya is a participating non-linked plan which offers a combination of protection and savings. This plan provides for Annual Income benefit that may help to fulfill the needs of the family, primarily for the benefit of children, in case of unfortunate death of Policyholder any time before maturity and a lump sum amount at the time of maturity irrespective of survival of the Policyholder. This plan also takes care of liquidity needs through its loan facility.


Premium Payment Mode:
Yearly, Halfly, Quarterly, Monthly(ECS)
Term :
13 to 25 Years
P.P.T.
(Policy Term - 3) Years
Minimum Entry Age :
18 Year Completed
Maximum Entry Age :
50 Year (Nearest Birthday)
Maximum Maturity Age :
65 Year (Nearest Birthday)
Minimum Sum Assured :
1,00,000
Maximum Sum Assured :
NO LIMIT (Depending upon Income)
Maximum Accidental Death and Disability Benefit Rider up to age 65.
Policy Benefits :
On Death :
 Benefits payable on death:
Sum Assured on Death + Bonuses & Final Additional Bonus, if any, shall be payable in following manner.
Annual Income Benefit equal to 10% of the Basic Sum Assured (till policy anniversary prior to date of maturity)
Assured Absolute Amount of 110% of Basic Sum Assured, payable (on due date of maturity)
Along with Bonuses & Final Additional Bonus, if any, on maturity. (on due date of maturity)
On Survival : On survival Basic Sum Assured + Vested Bonus + FAB if any.
Surrendered Value : The Policy can be surrendered at any time during the policy term provided atleast 3 full years premiums have been paid.
Loan : Available after payment of premium of 3 full years.
Income Tax Benefit :
• Premium paid under this plan is eligible for TAX rebate under section 80c.
• Maturity under this plan is free under sec 10(10D).

More Details... or Call 9990286758

Tuesday, 10 March 2015

LIC's New Children Money Back Plan (832): Should You Invest?

LIC has recently come up with a New Children Money Back Plan, providing one more option among the many that are available in the market.
This plan is a non-linked money back plan, which would eventually enable to meet meet the child's multiple financial needs including education, marriage, further studies abroad etc.
The plan also has a survival benefit like most other plans from Life Insurance Corporation.
During the policy term, there is a risk cover on the life of child, which means that if anything were to happen to the child, the parent or the guardian would end up getting the money.
Insurance
Another interesting feature of the plan is that it also covers risk for a periodic payment on surviving to the end of the specified duration.

LIC New Children Money Back Plan Table 832

Children Min and Maximum age0-12
Policy term25 years minus age at entry
Minimum and Maximum maturity age25 years
Minimum Basic Sum AssuredRs 1,00,000
Maximum Basic Sum AssuredNo Limit
Death Benefits
In event of death before the date of commencement of risk, an amount which is equal to the total amount including premium/s paid excluding taxes, extra premium and rider premium, will be payable.
If the event happens after the date of commencement of risk, death benefit, will be sum assured on death along with bonuses and final additional bonus.
This death benefit shall not be less than 105% of the total premiums paid as on date of death.
Survival Benefit
When Child Complete 18 years20% of Sum Assured
When Child Complete 20 years20% of Sum Assured
When Child Complete 22 years20% of Sum Assured
Maturity40% of the Basic Sum Assured also bonus if any
Premium waiver
Premium waiver can be availed on payment of additional premium. If this rider is opted for, in case of death of the proposer, the payment of the premiums falling due after the date of death shall be waived
High Sum Assured Rebate
Basic Sum AssuredRebate
Rs 1,00,000 - 1,90,000Nil
Rs 2,00,000-4,90,0002 % thousand basic sum assured
Rs 5 00,000 & above3 % per thousand of Basic Sum Assured
Modes of Premium PaymentAll modes i.e. Yearly, Half-yearly, Quarterly and Monthly.
Loan
A loan can also be availed, but that is  applicable only after 3 full years of the payment of premiums.
Also, there has to be a declaration from the proposer to the effect that loan is raised for the benefit of the minor life assured. What this essentially means is that the amount has to be used for the benefit of the child.

Should You Buy The LIC New Children Money Back Plan?

The scheme is good for those looking at a predefined target to meet the needs of a child. The returns may not be better then bank interest rates but, it does provide some insurance benefit.
If you have a girl child's education a better prospect would be the Sukanya Samrudhi Yojana Account, where interest income is tax free and the current interest rate is a huge 9.1%.
It gives you tax benefits Under Sec 80C and also the interest income is free from tax.

Wednesday, 4 March 2015

Lic's New Children Money Back Plan - 832


Lic's Jeevan Sangam Plan - 831


LIC's New Children Money Back Plan - 832

LIC's New Children’s Money Back Plan is a participating non-linked money back plan. This plan is specially designed to meet the educational, marriage and other needs of growing children through Survival Benefits. In addition, it provides for the risk cover on the life of child during the policy term and for number of survival benefits on surviving to the end of the specified durations.
The plan can be purchased by any of the parent or grand parent for a child aged 0 to 12 years.
Premium waiver benefit is available for proposers aged between 18 to 55 years.
Loan facility available after 3 years.

Survival Benefits:
Age of the child
18 years, 20 years, 22 years
Survival Benefit Payable
20%, 20%, 20%

Maturity Benefits:
On maturity at the age of 25 years 40% of Basic Sum assured along with Bonus and Final Additional Bonus (if any) will be paid

Death benefit: On death of the Life Assured before the stipulated Dat e of Maturity provided the policy is in full force, then
On death of the Life Assured before the date of comme ncement of risk: Return of premium/s excluding taxes, extra premium and rider premium, if any.

On death after the date of commencement of risk:
An amount equal to the total amount of premium/s paid excluding taxes, extra premium and rider premium, if any shall be payable. In case the age at entry of the Life Assured is less than 8 years, the risk under this plan will commence either one day before the completion of 2 years from the date commencement of policy or one day before the policy anniversary coinciding with or immediately following the completion of 8 years of age, whichever is earlier. For those aged 8 years or more, risk will commence immediately.

On death After the Date of Commencement of Risk: Death Benefit, defined as sum of “Sum Assured on Death” and vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable. Where “Sum Assured on Death” is defined as higher of 10 times of annualized premium or Absolute amount assured to be paid on death i.e. Basic Sum assured. This death benefit shall not be less than 105% of the total premiums paid as on date of death.

More Details... or Call 9990286758

LIC's JEEVAN SANGAM Plan - 831

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.
Death benefit:
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.

More Details... or Call 9990286758

Tuesday, 27 January 2015

LIC New Jeevan Anand Plan 815

LIC's New Jeevan Anand Plan is a participating non-linked plan which offers an attractive combination of protection and savings. This combination provides financial protection against death throughout the lifetime of the policyholder with the provision of payment of lumpsum at the end of the selected policy term in case of his/her survival. This plan also takes care of liquidity needs through its loan facility.