Saturday, 7 May 2016
Friday, 22 April 2016
Jeevan Pragati
Product Summary:
·
LIC's Jeevan Pragati (838) is a non-linked, with
profits Endowment Assurance Plan wherein the risks cover automatically
increases after every five years during the term of the policy.
Premium Payment Mode: Yearly, Half Yearly, Quarterly,
Monthly (ECS)
Term: 12 to 20 years
Minimum Entry Age:
12 Year Completed
Maximum Entry Age: 45 Year (Nearest
Birthday)
Maximum Maturity Age: 65 Year
Minimum Sum Assured: Rs. 1,50,000
Maximum Sum Assured: NO LIMIT (Depending upon
Income)
Maximum Accidental Death and
Disability Benefit Rider up to age 65.
Policy Benefits:
·
On Death:
o
Sum Assured + Vested Bonus + FAB if any.
o
Where 'S.A. on Death' is defined as the higher
of
§
10 times of Annualized Premium, OR
§
Absolute amount assured to be paid on death,
which is as under:
o
During first five policy years: 100% of the
Basic S.A.
o
During 6th to 10th policy years: 125% of the
Basic S.A.
o
During 11th to 15th policy years: 150% of the
Basic S.A.
o
During 16th to 20th policy years: 200% of the
Basic S.A.
o
This
Death Benefit shall not be less than 105% of all Premiums paid as on death
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 at least 3 full years premiums have been paid.
Loan:
• Loan Facility is available
under this plan, after payment of premiums for at least 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).
Proposal Form: 300/340/360 shall be used under this plan.
Jeevan Labh
Product Summary:
·
LIC's Jeevan Labh Plan (836) is a limited
premium paying, non-linked, with-profits Endowment Assurance plan.
Premium Payment Mode: Yearly, Half Yearly, Quarterly,
Monthly (ECS)
Term: 16, 21, 25 Years
PPT:
·
For Term 16 Year Ppt 10 year
·
For Term 21 Year Ppt 15 Year
·
For Term 25 Year ppt 16 year
Minimum Entry Age:
8 Year Completed
Maximum Entry Age: 59 Year (Nearest
Birthday)
Maximum Maturity Age: 75 Year
Minimum Sum Assured: Rs. 2,00,000
Maximum Sum Assured: NO LIMIT (Depending upon
Income)
Maximum Accidental Death and
Disability Benefit Rider up to age 70.
Policy Benefits:
·
On Death:
o
Basic Sum-Assured, OR
o
10 times of Annualized Premium, OR
o
105%of all Premiums paid as on death,
o
WHICHEVER IS HIGHER
On Survival:
·
On survival Basic Sum-Assured + Reversionary
Bonus+ Final Additional Bonus.
Surrendered Value:
·
The Policy can be surrendered at any time during
the policy term provided atleast three full years premiums have been paid.
Loan:
• Loan Facility is available
under this plan, after payment of premiums for at least 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).
Jeevan Lakshya
Product Summary:
·
This is a limited premium paying term conventional With-Profits Endowment Assurance plan where premium paying term is
less than policy term by three years.
Premium Payment Mode: Yearly, Half Yearly, Quarterly,
Monthly (ECS)
Term: 13 to 25 Years
PPT: (Policy Term - 3) Years
Minimum Entry Age:
18 Year Completed
Maximum Entry Age: 50 Year (Nearest
Birthday)
Maximum Maturity Age: 65 Year
Minimum Sum Assured: Rs. 1,00,000
Maximum Sum Assured: NO LIMIT (Depending upon
Income)
Maximum Accidental Death and
Disability Benefit Rider up to age 70.
Policy Benefits:
· On Death:
o
Sum Assured on Death + Bonuses & Final
Additional Bonus, if any, shall be payable in following manner.
o
Annual Income Benefit equal to 10% of the Basic
Sum Assured (till policy anniversary prior to date of maturity)
o
Assured
Absolute Amount of 110% of Basic Sum Assured, payable (on due date of maturity)
o
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 at least 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).
Limited Premium Endowment
Product Summary:
·
LIC Limited Premium Endowment Plan (830) is a
limited premium paying conventional With-Profits Endowment Assurance Plan.
Premium Payment Mode: Yearly, Half Yearly, Quarterly,
Monthly (ECS)
Term: 12, 16 & 21 Years
PPT: 8, 9 Years
Minimum Entr y Age:
18 Year Completed
Maximum Entry Age: 62 Year (Nearest
Birthday)
Maximum Maturity Age: 75 Year
Minimum Sum Assured: 3,00,000
Maximum Sum Assured: NO LIMIT (Depending upon
Income)
Maximum Accidental Death and
Disability Benefit Rider up to age 70.
Policy Benefits:
· On Death:
o
125%of Basic Sum-Assured, OR
o
10 times of Annualized Premium, OR
o
105%of all Premiums paid as on death,
o
WHICHEVER IS HIGHER
On Survival:
·
On survival Basic Sum-Assured + Reversionary
Bonus+ Final Additional Bonus.
Surrendered Value:
·
The Policy can be surrendered at any time during
the policy term provided atleast two full years premiums have been paid.
Loan:
• Loan Facility is available
under this plan, after payment of premiums for at least 2 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).
Jeevan Rakshak
Product Summary:
·
This is a regular premium paying Non-linked,
With-Profits, Endowment Assurance plan.
·
This plan shall be available to standard lives
only without any medical examination and the total Sum Assured under all the
policies issued to an Individual under this plan shall not exceed Rs. 2 lacs.
Premium Payment Mode: Yearly, Half Yearly, Quarterly,
Monthly (ECS)
Term: 10 to 20 Years
Minimum Entr y Age:
8 Year Completed
Maximum Entry Age: 55 Year (Nearest
Birthday)
Maximum Maturity Age: 70 Year
Minimum Sum Assured: 75,000
Maximum Sum Assured: Rs. 2,00,000
Maximum Accidental Death and
Disability Benefit Rider up to age 70.
Policy Benefits:
·
On Death: Provided all
due premiums have been paid, the following death benefit shall be paid:
o
On Death
during the policy term:
§
" Sum Assured on Death " shall be
payable, which is the highest of
§
Basic Sum Assured; or
§
10 times of annualized premium; or
§
105% of all the premiums paid as on date of
death.
§
The premium mentioned above excludes taxes,
extra premium and rider premiums, if any. In addition to the above, Loyalty
Addition, if any, shall also be payable if death occurs after completion of 5th
policy year.
On Survival:
·
On survival to the end of the policy term Basic
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 provided atleast three full years premiums have been paid.
Guaranteed Surrender Value:
·
The Guaranteed Surrender Value shall be a
percentage of total premiums paid (net of taxes) excluding any extra premiums
and premiums for riders, if opted for. This percentage will depend on the
policy term and policy year in which the policy is surrendered
Loan:
• Loan facility is available
under this plan,after payment of premiums for at least 3 full years subject to
following conditions :
o
The maximum loan as a percentage of surrender
value shall be 70percent in case of inforce policies and 60percent in case of
paid-up policies.
o
The rate of interest to be charged for the loan
amount would be determined from time to time by the Corporation.
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).
Jeevan Tarun
Product Summary :
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.
Premium Payment Mode: Yearly, Half Yearly, Quarterly,
Monthly (ECS)
Term: 25 Age at Maturity Time
[25-Age at entry]Years
P.P.T.: [20-Age at entry] Years
Minimum Entry Age:
0 Year Last Birthday
Maximum Entry Age: 12 Year Last Birthday
Minimum Sum Assured: 75,000
Maximum Sum Assured: NO LIMIT (Depending upon Income)
Policy Benefits:
·
On Death:
o
On
death Before 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.
o
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. 125% of Sum Assured.
§
This
death benefit shall not be less than 105% of the total premiums paid as on date
of death.
On Survival:
Option
is chosen at proposal stage.
• Option-1: No Survival, Maturity
Benefit 100% S.A.
• Option-2: 5% S.A. every year For 5
Years from age 20 to 24, Maturity Benefit 75% S.A.
• Option-3: 10% S.A. every year For 5
Years from age 20 to 24, Maturity Benefit 50% S.A.
• Option-4: 15% S.A. every year For 5
Years from age 20 to 24, Maturity Benefit 25% S.A.
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 at least 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).
Friday, 15 April 2016
LIC’s NEW CHILDREN's MONEY BACK PLAN
Product Summary :
·
LIC’s New Children’s Money Back Plan is
a non-linked, with-profits, regular premium payment money back plan
Premium
Payment Mode:Yearly, Halfly, Quarterly, Monthly(ECS)
Term : 25 Age at Maturity Time
Minimum
Entry Age : 0 Year Last Birthday
Maximum Entry Age : 12 Year Last Birthday
Minimum Sum Assured :1,00,000
Maximum Sum Assured :NO LIMIT (Depending upon Income)
Policy Benefits :
On
death Before the Date of Commencement of Risk:
o
An amount equal to the total amount of
premium's paid excluding taxes, extra premium and rider premium, if any shall
be payable.
On
death After the Date of Commencement of Risk:
o
Death Benefit, defined as sum of “Sum
Assured on Death” and vested Simple Reversionary Bonuses and Final Additional
Bonus, if any, shall be payable.
o
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.
o
This death benefit shall not be less
than 105% of the total premiums paid as on date of death.
On Survival :
If Policy in
full force :
o
Completion Age 18YRS - 20% OF MSA
o
Completion Age 20YRS - 20% OF MSA
o
Completion Age 22YRS - 20% OF MSA
o
On Maturity at Age 25YRS - 40% of MSA +
Vested Bonus + FAB
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).
