LIC Limited Period Premium Plan (830)

Transcription

1 LIC Limited Period Premium Plan (830) Plan No: 830 Limited Period Premium plan is a limited premium conventional, with-profits, Endowment Assurance plan. It provides financial protection against the untimely death of the policyholder. In case of the survival of the policyholder there is a provision of payment of lump sum at the maturity of the policy. Plan Features Of Limited Period Premium Plan Min Entry Age: 8 years completed Max Age: 55 years (nearest birthday) Max maturity age: 70 year Payment mode: Yly, Hly, Qtrly, Mly. Policy Term: 10 to 20 years Min Sum Assured: Rs /- Max Sum Assured: Rs /- Surrender Value: Policy can be surrendered after 3 full years premium have been paid. The surrender value shall be a percentage of the total premiums paid.

2 No Loyalty Addition is payable in case of surrender of the policies. LIC s Accident Benefit Rider will not acquire any surrender value. Loan: Loan can be availed under the policy provided the policy has acquired a surrender value. Income Tax Benefit: Premium paid under this plan is eligible for tax rebate under section 80c Maturity under this plan is free under section 10(10D) Limited Period Premium plan Benefits On Death- During the policy term: Sum Assured on Death + vested simple reversionary bonus + FAB, if any shall be payable. Sum Assured on Death is defined as the higher of. Basic Sum Assured; or 10 times of annualized premium; or 125% of all the premiums paid as on date of death. On Maturity: Basic Sum assured + vested simple reversionary bonus + FAB, if any shall be payable in lump sum. Optional Benefit [at payment of additional premium amount]- Accidental Death and Disability Benefit: If Life Assured is involved in an accident, leading to death and such incident shall occur within 180 days from the date of accident then an additional amount equal to the Accident Benefit Sum Assured is payable. In case the accident leads to permanent disability within 180 days from the date of accident then an additional amount equal to the Accident Benefit Sum Assured is paid in equal monthly instalments spread over 10 years and future premiums are waived off.

3 Optional Benefit Term Rider Benefit: On death of the life assured during the policy term an additional amount equal to term assurance rider Sum Assured shall be payable. Why should you buy Limited Period Premium plan? 1. You are an earning memberof your family! 2. You want to insure your family income, when you are no more! 3. You want to set aside some money as a forced savingthat also gives you the risk cover! 4. After the end of policy term you will receive maturity amount. 5. In case of your untimely deathyour family will get immediate compensation! 6. You will get maturity returnwith bonus once the policy matures! 7. In case of accidental death and disability there is a provision for additional benefits [if these benefits were opted for in the beginning of the policy] 8. You may opt to receive the maturity amount as pensionthroughout your life? In case any of the above statement appeal to you and your need then Limited Period Premium plan is best suited for you.

4 LIC Jeevan Rakshak Plan (827) Plan No: 827 Jeevan Rakshak plan is a regular premium paying Non-linked, With-Profits, Endowment Assurance plan. This plan shall be available to standard lives only under non-medical limit and the total Sum Assured under all the policies issued to an Individual under this plan shall not exceed Rs. 2 lacs. Plan Features of Jeevan Rakshak Plan Min Entry Age: 8 years completed Max Age: 55 years (nearest birthday) Max maturity age: 70 year Payment mode: Yly, Hly, Qtrly, Mly. Policy Term: 10 to 20 years Min Sum Assured: Rs /- Max Sum Assured: Rs /- Surrender Value: Policy can be surrendered after 3 full years premium have been paid. The surrender value shall be a percentage of the total premiums paid. No Loyalty Addition is payable in case of surrender of the

5 policies. LIC s Accident Benefit Rider will not acquire any surrender value. Loan: Loan can be availed under the policy provided the policy has acquired a surrender value. Income Tax Benefit: Premium paid under this plan is eligible for tax rebate under section 80c. Maturity under this plan is free under section 10(10D) Jeevan Rakshak Plan Benefits On Death- During the policy term before 5 yrs: 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. On Death- During the policy term after the completion of 5 th policy year: In addition to the above, Loyalty Addition, if any, shall also be payable On Maturity: Basic Sum assured + Loyalty Addition if any shall be payable in lump sum. Optional Benefit [at payment of additional premium]- Accident Benefit: If Life Assured is involved in an accident, leading to death and such incident shall occur within 180 days from the date of accident then an additional amount equal to the Accident Benefit Sum Assured is payable. Why should you buy Jeevan Rakshak Plan? 1. You are an earning memberof your family! 2. You want to insure your family income, when you are no more! 3. You want to set aside some money as a forced savingthat

6 also gives you the risk cover! 4. After the end of policy term you will receive maturity amount and risk cover for your entire life! 5. In case of your untimely deathyour family will get immediate compensation! 6. You will get maturity returnwith bonus once the policy matures! 7. You may receive the maturity amount as pensionthroughout your life? In case any of the above statement appeal to you and your need then Jeevan Rakshak policy is best suited for you. LIC Single Premium Endowment Plan (817) Plan No: 817 Single Premium Endowment Plan of LIC is a single premium, nonlinked, with profits endowment assurance plan. It offers an attractive combination of savings and risk cover. Single

7 Premium Endowment Plan provides financial protection against the untimely death of the policyholder. In case of the survival of the policyholder there is a provision of payment of lump sum at the maturity of the policy. Features of Single Premium Endowment Plan Min Entry Age: 90 days Max Age: 65 yrs. Payment mode: Single Min maturity age : 18 yrs Max maturity age : 75 yrs Policy Term: 10 to 25 yrs. Surrender Value: Policy can be surrendered after 1 full year premium has been paid. The surrender value shall be a percentage of the total premiums paid. Min Sum Assured: Rs /- Loan: Loan can be availed under the policy provided the policy has acquired a surrender value. Max Sum Assured: No limit (depending upon income) Income Tax Benefit: Premium paid under this plan is eligible for tax rebate under section 80c. Maturity under this plan is free under section 10(10D) Single Premium Endowment Plan

8 Benefits On Death Before commencement of risk : Return of single premium excluding taxes and extra premium On Death After commencement of risk : Sum Assured + Vested Bonus + FAB if any On Maturity Sum Assured + Vested Bonus + FAB if any Who should buy Single Premium Endowment Plan 1. You are an earning memberof your family! 2. You want to insure your family income! 3. You want to set aside a lump sum that also gives you the risk cover! 4. After the end of policy term you will receive maturity amount. 5. In case of your untimely deathyour family will get immediate compensation. In case any of the above statement appeal to you and your need then New Jeevan Anand policy is best suited for you. LIC New Endowment Plan (814) Plan No: 814

9 New Endowment Plan of LIC is a regular premium, non-linked, with profits Endowment Assurance plan. It offers an attractive combination of savings and risk cover. New Endowment Plan provides financial protection against the untimely death of the policyholder. In case of the survival of the policyholder there is a provision of payment of lump sum at the maturity of the policy. Features of New Endowment Plan Min Entry Age: 8 years completed Max Age: 55 years (nearest birthday) Max maturity age : 75 year Payment mode: Yly, Hly, Qly, Mly Surrender Value: Policy can be surrendered after 3 full years premium have been paid. The surrender value shall be a percentage of the total premiums paid. Policy Term: 12 to 35 years Loan: Loan can be availed under the policy provided the policy has acquired a surrender value. Min Sum Assured: Rs /- Income Tax Benefit: Premium paid under this plan is eligible for tax rebate under section 80c. Maturity under this plan is

10 free under section 10(10D) Max Sum Assured: No limit (depending upon income) New Endowment Plan Benefits On Death During the policy term : Sum assured on death + vested simple reversionary bonus + final additional bonus (if any) shall be payable. OR 10 times of annualised premium OR 105% of all premiums paid as on death (WHICHEVER IS HIGHER) On Survival till Maturity- Basic Sum assured + vested simple reversionary bonuses + Final additional bonus (if any) shall be payable in lump sum. Optional Benefit [at payment of additional premium] Accidental Death and Disability Benefit If Life Assured is involved in an accident, leading to death and such incident shall occur within 180 days from the date of accident then an additional amount equal to the Accident Benefit Sum Assured is payable. In case the accident leads to permanent disability within 180 days from the date of accident then an additional amount equal to the Accident Benefit Sum Assured is paid in equal monthly instalments spread over 10 years and future premiums are waived off. Who should buy New Endowment Plan 1. You are an earning memberof your family! 2. You want to insure your family income!

11 3. You want to set aside some money as a forced savingthat also gives you the risk cover! 4. After the end of policy term you want to receive some maturity amount as lump sum. 5. In case of your untimely deathyour family should get immediate compensation. 6. You desire to get maturity returnwith added bonus once the policy matures. 7. You may receive the maturity amount as pension throughout your life? In case any of the above statement appeal to you and your need then New Endowment Plan policy is best suited for you. LIC New Jeevan Anand Plan (815) Plan No: 815 New Jeevan Anand Plan of LIC is a participating non-linked plan. It offers an attractive combination of savings and risk

12 cover. New Jeevan Anand provides financial protection against the untimely death of the policyholder. In case of the survival of the policyholder there is a provision of payment of lump sum at the maturity of the policy. Features of New Jeevan Anand Min Entry Age:18 years completed Max Age:50 years (nearest birthday) Max maturity age :75 year Payment mode: Mly., Qtrly., Hly., Yly. Min Sum Assured: Rs /- Max Sum Assured: No limit (depending upon income) Policy Term: 15 to 35 years Surrender Value: Policy can be surrendered after 3 full years premium have been paid. The surrender value shall be a percentage of the total premiums paid. Loan: Loan can be availed under the policy provided the policy has acquired a surrender value. Income Tax Benefit: Premium paid under this plan is eligible for tax rebate under section 80c. Maturity under this plan is free under section 10(10D) New Jeevan Anand Policy Benefits On Death During the policy term: Sum assured on death + vested simple reversionary bonus + final additional bonus (if any) shall be payable. On Death After the policy term: Basic sum assured

13 On Survival at Maturity: Basic Sum assured + vested simple reversionary bonuses + FAB if any shall be payable in lump sum. Example of New Jeevan Anand Who should buy New Jeevan Anand Plan 1. You are an earning member of your family! 2. You want to insure your family income! 3. You want to set aside some money as a forced saving that also gives you the risk cover! 4. After the end of policy term you will receive maturity amount and risk cover for your entire life! 5. In case of your untimely death your family will get immediate compensation! 6. You will get maturity return with added bonus once the policy matures!

14 7. You may receive the maturity amount as pension throughout your life? In case any of the above statement appeal to you and your need then New Jeevan Anand policy is best suited for you. LIC Jeevan Lakshya Plan (833) Plan No: 833 Jeevan Lakshya from LIC is a participating non-linked plan where the premium paying term is less than policy term by three years. This plan is a combination of savings and risk cover. Features of Jeevan Lakshya Min Entry Age: 18 years completed Max Age: 50 years (nearest birthday) Max maturity age: 65 year (nearest birthday) Payment mode: Mly., Qtrly., Hly., Yly. Min Sum Assured: Rs /-

15 Max Sum Assured: No limit (depending upon income) Policy Term: 13 to 25 years Premium paying term: Policy term 3 years Surrender Value: Policy can be surrendered after 3 full years premium have been paid Loan: Available after 3 full years premium have been paid Income Tax Benefit: Premium paid under this plan is eligible for tax rebate under section 80c. Maturity under this plan is free under section 10(10D) Jeevan Lakshya Policy Benefits On Death: Annual Income Benefit of 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). Bonuses and Final additional bonus, if any, on the due date of maturity. On Survival: Basic Sum assured + vested bonus + FAB if any Example of Jeevan Lakshya Plan

16 Who should take Jeevan Lakshya Plan 1. You are an earning member of your family! 2. You want to insure your family income! 3. You want to set aside some money as a forced saving that also gives you the risk cover! 4. In case of your untimely death your family starts getting some fixed annual income until the maturity of the policy! 5. You or your nominee get the maturity amount at the end of the policy term irrespective of your survival! In case any of the above statement appeal to you and your need then Jeevan Lakshya policy is best suited for you.

17 LIC Jeevan Labh Plan (836) Plan No: 836 LIC s Jeevan Labh is a limited premium, non-linked, withprofits endowment plan. It is 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. Features of Jeevan Labh plan Min Entry Age: 8 years completed Max Age: 59 years (nearest birthday) Max maturity age: 75 year Payment mode: Mly., Qtrly., Hly., Yly. Min Sum Assured: Rs /- Max Sum Assured: No limit (depending upon income) Policy Term: 16 years, 21 years, 25 years Premium paying term: 10 yr for 16 year term, 15 yr for 21 year term, 16 yr for 25 year term

18 Surrender Value: Policy can be surrendered after 3 full years premium have been paid. The surrender value shall be a percentage of the total premiums paid. Loan: Loan can be availed under the policy provided the policy has acquired a surrender value. Income Tax Benefit: Premium paid under this plan is eligible for tax rebate under section 80c. Maturity under this plan is free under section 10(10D) Jeevan Labh Policy Benefits On Death: Basic Sum Assured Or 10 times of annualized premium Or 105% of all premiums paid as on death (WHICHEVER IS HIGHER) On Survival at Maturity: Basic Sum Assured + Reversionary Bonus + Final Additional Bonus Example of Jeevan Labh Plan

19 Who should buy Jeevan Labh Plan 1. You are an earning member of your family! 2. You want to insure your family income! 3. You want to set aside some money as a forced saving that also gives you the risk cover! 4. After the end of policy term you will receive maturity amount! 5. In case of your untimely death your family will get immediate compensation! 6. You will get maturity amount with added bonus at the end of policy term! 7. Your policy term is 25 years but you pay insurance only for 16 years, you get premium holiday! 7. You may receive the maturity amount as pension throughout your life? In case any of the above statement appeal to you and your need then Jeevan Labh plan is best suited for you.