Monday, 18 December 2017

LIC Jeevan Shiromani Plan 847

LIC Jeevan Shiromani Plan 847 – Features and Review

Plan :Jeevan Shiromani (847)

Product Summary :
LIC is launching a new money back plan LIC Jeevan Shiromani Plan 847 on 19th December 2017.
LIC's Jeevan Shiromani plan is a non-linked, with-profits, limited premium payment money back life insurance plan especially designed for targeted segment of High Net-worth Individuals.

Premium Payment Mode :
Yearly, Halfly, Quarterly, Monthly(ECS)

Term/Ppt :
14/10, 16/12, 18/14 & 20/16 Years

Minimum Entry Age :
18 Years completed

Maximum Entry Age :
55 Years (Nearer Birthday) for Term 14
51 Years (Nearer Birthday) for Term 16
48 Years (Nearer Birthday) for Term 18
45 Years (Nearer Birthday) for Term 20

Maximum Maturity Age :
69 Years (Nearer Birthday) for term 14
67 Years (Nearer Birthday) for term 16
66 Years (Nearer Birthday) for term 18
65 Years (Nearer Birthday) for term 20

Minimum Sum Assured :
Rs 1 crore (Multiple of 5 lakhs thereafter)

Maximum Sum Assured :
No Limit

Guaranteed Addition :
Rs 50/- per 1000 SA for 1st 5 years
Rs 55/- per 1000 SA for remaining PPT

Policy Benefits :

On Death :
Death during 5 yrs : SA on Death + GA
Death after 5 yrs : SA on Death + GA + LA

*SA on Death* : 110% of BSA or 10 times AP or 105% of Premiums Paid

Survival Benefits :
For 14 yrs policy : 30% of BSA in 10th & 12th year
For 16 yrs policy : 35% in 12th & 14th year
For 18 yrs policy : 40% in 14th & 16th year
For 20 yrs policy : 45% in 16th & 20th year

Maturity time : Remaining SA with GA + LA

Inbuilt Critical Illness Benefit:
10% of BSA on diagnosis of 15 Critical diseases + 2 years Premium Holiday

Surrendered Value :
The Policy can be surrendered at any time during the policy term provided atleast 3 full years premiums have been paid.

Loan :
Loan Facillity is available under this plan, after payment of premiums for at least 1 full years.

For more information call 9990286759 or visit

Tuesday, 5 September 2017

LIC Jeevan Utkarsh Plan 846

LIC Jeevan Utkarsh Plan 846

Product Summary:
LIC’s Jeevan Utkarsh is a single premium, non-linked, with-profits, savings cum protection plan wherein the risk cover is ten times of Tabular Single Premium.

Premium Payment Mode:
Single Premium

12 Year

Minimum Entry Age:
6 years (completed)

Maximum Entry Age: 47 years (nearer birthday)

Minimum Sum Assured :75,000

Maximum Sum Assured :NO LIMIT (Depending upon Income)

Basic Sum Assured shall be in multiples of:
Rs. 5,000 – if Basic Sum Assured under a policy is below Rs. 3,00,000

Rs. 20,000 – if Basic Sum Assured under a policy is Rs. 3,00,000 and above

Policy Benefits :
On Death :
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.

On Survival:At Maturity Time :On the Life Assured surviving to the end of the policy term, the Maturity Sum Assured along with Loyalty Addition, if any, shall be payable

Surrendered Value:The policy can be surrendered at any time during the policy term subject to realization of the premium cheque.

Loan:Loan facility shall be available under the plan at any time during the policy term after three months of the policy issuance.

Income Tax Benefit:• Premium paid under this plan is eligible for TAX rebate under section 80c.
• Maturity under this plan is Tax free under sec 10(10D).

Friday, 5 May 2017


Pradhan Mantri Vaya Vandana Yojana - 842

Product Summary :
As announced by the Government of India regarding the pension plan for senior citizen of India (Aged above 60 years) in last financial year, the Government of India has announced the Pradhan Mantri Vaya Vandana Yojana (PMVVY) Plan No. 842 for citizens aged 60 year and above.
Pradhan Mantri Vaya Vandana Yojana (Plan No. 842) is a pension plan with subsidized pension rates which will provide an assured return of 8% per annum payable monthly (equivalent to 8.30% per annum) on the pensioner surviving during the policy term of 10 years.
This plan is available for sale from 04/05/2017 through LIC of India. This plan will be available for sale up to 03/05/2018 (one year). Unique Identification Number (UIN) for Pradhan Mantri Vaya Vandana Yojana is 512G311V01.

Monthly Quarterly Half Yly Yearly
Minimum Pension 1,000 3,000 6,000 12,000
Minimum Purchase Price 1,50,000 1,49,068 1,47,601 1,44,578
Maximum Pension 5,000 15,000 30,000 60,000
Maximum Purchase Price 7,50,000 7,45,342 7,38,007 7,22,892
Pension Rates 8.00% 8.05% 8.13% 8.30%

Premium Payment Mode:
Term :
10 Years
Minimum Entry Age :
60 Year Completed
Maximum Entry Age :
No Limit.

Policy Benefits :
Pension Payment :Pensioner will get the pension during the policy term, pension in arrears (at the end of each period as per mode is chosen by the pensioner) will be payable.
Death Benefit :On the death of the pensioner during the policy term, the Purchase Price will be refunded to the nominee (or legal heirs in absence of nominee).
Maturity Benefits :n survival of pensioner to the end of the policy term, Purchase Price and final installment of the pension will be paid to the pensioner.

Other features and Benefits of Pradhan Mantri Vaya Vandana Yojana :
Policy can be surrendered during the policy term under exceptional circumstances like pensioner requires money for treatment of any critical/terminal illness of self or spouse. Surrender value payable will be 98% of purchase price.

Loan Facility available after completion of 3 policy years, maximum loan payable will be 75% of purchase price. Interest on the loan will be recovered from the pension amount. There will no exclusion on the count of suicide and full purchase price will be payable to the nominee.

Free look period, 15 days available from the date of receipt of policy bond if the policyholder is not satisfied with the “Terms and Conditions” of the policy.

Assignment as per Sec 38 of Insurance Act 1938 allowed only in favor of LIC of India (in the case of Loan taken on policy). Nomination required as per Sec 39 of Insurance Act 1938

The pension will be paid through NEFT or Aadhaar Enabled Payment System.