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Friday, 15 January 2021

Investment of Rs 150 will get you Rs 19 lakh

With an investment of Rs 150, you will get Rs 19 lakh



LIC will get this policy advantage and tax of Rs.150 lakh. LIC is the most trusted insurance company in the country. Consumers benefit greatly by investing in this government-run company policy. In this age of rising inflation, it is imperative for each of us to save a certain percentage of our hard earned money and invest in policy. Everyone dreams of a better future for their children. The Life Insurance Corporation of India has a similar scheme designed with the needs of children in mind. We are talking about LIC's LIC NEW CHILDREN'S MONEY BACK PLAN

The minimum sum insured is Rs. Is 1,00,00.

There is no limit to the maximum insurance.

The policyholder will receive 20% of the sum insured on completion of 18, 20 and 22 years of age.


At the time of policy maturity (unless the policyholder dies during the term of the policy) the policyholder will receive an additional portion of the sum insured with a bonus of 40%.




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In case of death of the policyholder at the time of policy appointment, in addition to the sum insured, a simple reversionary bonus check and final maximum bonus are given. The death benefit shall not be less than 105% of the total premium payment


See self, spouse and children policies


Register for Premier Services (Service Online Service Requests)


Online Online Renewal Premium Payment; Top; Loan repayment and loan interest payment


Low loan requests


Doctor Locator


Premium paid statements; Individual and integrated


Premium Calendar


Revival Quotes.


See complaint registration and complaint status


Inquiry into the status of the claim


Check loan status


Claim history


See the status of the service request


Email and SMS alerts


Benefits


Jeevan Surabhi - (Table Nos. 106,107 and 108)


Introduction:


The Insurance Regulatory and Development Authority (IRDA) requires all life insurance companies operating in India to provide an official picture to their customers. These pictures are based on the rates of compensation paid by the Life Insurance Council (framed under Section 64C (a) of the Insurance Act 1938) and do not reflect the actual compensation received by life insurance or may be received in the future. Corporation of India (LICI).


The two rates of compensation declared by the Life Insurance Council are 6% and 10% per annum for the year 2004-05.


Product Summer:


This is a for-profit plan available for three different terms of 15, 20 and 25 years with the same premium payment terms of 12, 15 and 18 years. The plan provides a certain percentage of the sum insured on existence for a specific period. Life insurance cover is available for the entire term of the plan which increases after every five annual intervals.


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Premiums: 

  • Premiums are payable yearly, half-yearly, quarterly, monthly or through salary deductions as opted by you throughout the premium paying term of the policy or till the earlier death.

Bonuses :

  • This is a with-profit plan and participate in the profits of the Corporation’s life insurance business. It gets a share of the profits in the form of bonuses. Simple Reversionary Bonuses are declared per thousand Sum Assured annually at the end of each financial year. Once declared, they form part of the guaranteed benefits of the plan. A Final (Additional) Bonus may also be payable provided policy has run for certain minimum period.

 

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Death Benefit:


Sum Assured, with additional cover, if any, plus, all bonus unit amounts up to death on the life of the insured during the term of the policy is payable. Survival benefits paid before death will not be deducted from the claim amount.


Survival Benefit: Up to the end of the specified period you will be paid a percentage of the following sum assured on your existence:


Maturity benefits:


The policy matures on your existence till the end of the policy term. All bonuses declared till maturity date will be paid in unit amount.


Supplemental / Additional Benefits: These are optional benefits that can be added to the original plan for your additional protection / option. An additional premium must be paid for these benefits.


Surrender value:


Buying a life insurance contract is a long term commitment. However, surrender values ​​are available under the scheme upon termination of the contract prior to termination


Guaranteed surrender value:

The policy may surrender after 3 years or more. The guaranteed surrender value is 30% of the basic premium paid, excluding the first year's premium, if no survival benefit payment has already been made. Where one or more survival benefits have declined, the guaranteed surrender value will be 30% of the premium paid on or after the due date of the recent survival benefits payment.

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