LIC’s New Jeevan Anand Plan (Plan No. 815)

LIC’s New Plan New Jeevan Anand (Table No. 815) implemented.

INTRODUCTION: It has been decided to introduce LIC’s New Jeevan Anand Plan (Plan No. 815) with

effect from 8th January, 2014. The Unique Identification Number (UIN) for LIC’s New Endowment Plan is

512N279V01. This number has to be quoted in all relevant documents furnished to the Policyholders

and other users (public, distribution channels).This is a non linked with profits limited premium

payment plan.

BENEFITS:

The benefits payable under an inforce policy are as under:

c) Benefits payable on death:

On death of the Life Assured during the policy term the Death Benefit, defined as sum of “Sum

Assured on Death”, vested Simple Reversionary bonuses and Final Additional bonus, if any, shall be

payable, where, “Sum Assured on Death” is defined as higher of 125% of Basic Sum Assured or 10

times of annualized premium. This Death Benefit (as defined above) shall not be less than 105% of total

premiums paid as on date of death. The premiums mentioned above exclude taxes, extra premium and

rider premiums, if any.

d) Maturity Benefit:

On the survival to the end of the policy term,Basic Sum Assured along with vested Reversionary

Bonuses and Final Addition Bonus if any shall be payable.

d) Participation in Profits:

Depending upon the Corporation’s experience the policies shall participate in the profits and shall be

eligible for simple reversionary bonus at such rate and on such terms as may be declared by the

Corporation. Final Additional Bonus may also be declared under the policy which will be payable on the

expiry of the policy term or on earlier death provided the policy has run for certain minimum term.

OPTIONAL BENEFIT:

This plan provides the following optional rider by payment of additional premium:

LIC’s Accidental Death and Disability Benefit Rider UIN (512N279V01): LIC’s Accidental Death and

Disability Benefit Rider is available as an optional rider by payment of additional premium during the

term of the policy. If there be more policies than one and if the total Accident Benefit exceeds Rs.50

lakhs, the benefits shall apply to the first Rs. 50 lakhs Sum Assured in order of date of policies issued.

If this benefit is opted for, an additional amount equal to the Accident Benefit Sum Assured is payable

on death due to accident, provided the rider is in force at the time of accident.

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ELIGIBILITY CONDITIONS AND RESTRICTIONS:

For Basic Plan:

1) Minimum Age at entry for Life Assured : 18 years (completed)

2) Maximum Age at entry for Life Assured : 50 years (nearest birthday)

3) Policy Term : 15 years

3) Premium Paying Term : 35 years

4) Minimum Basic Sum Assured : Rs. 1,00,000/-

5) Maximum Basic Sum Assured : No Limit

6) Maximum Maturity Age for Life Assured : 75 years (nearest birthday)

The Basic Sum Assured shall be in multiples of Rs. 5000/-.

For Accident and Disability Benefit Rider:

1)Minimum Entry Age : 18 years (completed)

2)Maximum Entry Age : the cover can be opted for at any policy

anniversary during the premium paying term

1. Maximum Cover ceasing Age : 70 years nearest birthday.

3)Minimum Accident Benefit Sum Assured : Rs. 1,00,000/-

Maximum Accident Benefit Sum Assured: An amount equal to the Basic Sum Assured subject to the

maximum of Rs.50 lakh overall limit taking all existing policies of the Life Assured under individual as

well as group policies including policies within built accident benefit taken with Life Insurance

Corporation of India and the Accident Benefit Sum Assured under the new proposal into consideration.

The Accident Benefit Sum Assured shall be in multiples of Rs. 5,000/-.

MODE OF PREMIUM PAYMENT:

The modes of premium payment allowable are Yearly, Half Yearly, Quarterly, and Monthly (ECS or

through salary deductions).

Three new EXPRESS COMBOS Implemented:-

Income Shower

Income Shower is a retirement solution for single premium deferred annuity requirement. In this you

pay a single premium and after 15 years get annual income for next 20 years

Secure Life

An ideal deferred retirement solution which not only provides pension for life on retirement but also

provides you a high cover for whole life starting from day 1 of the policy.

Bhagya Uday

A unique family protection and wealth creation solution where you pay premiums for 20 years and get

multiples of annual premiums every years for next 20 years

For More Information Please Call:- Giribabu, 09885126368, 9246826368.

LIC’s JEEVAN AROGYA (Plan No. 903)

New Plan – Implementation of New Plan Jeevan Arogya (Plan No. 903).
INTRODUCTION:
It has been decided to introduce LIC’s JEEVAN AROGYA (Plan No. 903) with effect from 1st June, 2011.The
Unique Identification Number (UIN) for LIC’s Jeevan Arogya plan is 512N266V01.An individual can take the
health cover under this plan for himself / herself. This individual will be addressed as Principal Insured (PI)
for the purpose of insurance under this plan. The Spouse, Children, Parents and Parents-in-law can also be
covered under the same policy. This is non-linked health plan which provides fixed benefits for
hospitalization and almost all types of surgical procedures irrespective of actual cost incurred and the
benefit is in addition to any other health insurance cover that insured lives may have, subject to certain
terms and Conditions.
The benefits offered under the plan are:
i) Hospital Cash Benefit (HCB)
ii) Major Surgical Benefit (MSB)
iii) Day Care Procedure Benefit (DCPB)
iv) Other Surgical Benefit (OSB)
Features at a glance:
Provides insurance cover for Hospital Charges, Major Surgical Charges, Day Care Procedure Benefit
Charges and Other Surgical Charges in India.
Entire family including spouse and dependent children, Dependent Parents of Husband and/or Wife can
be covered in a single policy.
Hospital Cash Benefit (HCB)
Feature Principal Insured (PI) Insured Spouse, Parents/In-Laws Insured Dependent Children
Min. Initial Daily Benefit Rs.1000/- Rs. 1000/- Rs. 1000/-
Max. Initial Daily Benefit Rs. 4000/- Equal to or less than PI Equal to or less than PI
Max. Age for Cover 80 Years 80 Years 26 Years
8) HCB (With in India only) is payable on per day basis.
9) 1st policy year: Maximum 30 days hospitalization & including 15 days in ICU (2 times of ADB) for each one.
10) 2nd year onwards: Maximum 90 days and including 45 days in I.C.U. for each insured.
11) Maximum of 720 days including 360 days for ICU during entire policy term for each insured.
12) This Benefit increase @ 5% each year till it reaches a maximum of 1.5 times the original HCB and
arithmetic addition of an amount equal to “No Claim Benefit” at every auto renewal stage.
13) Stay in hospital exceeds a continuous period of 24 hours or part thereof thereafter. Stay more
than 7 days, even for 1st 24 hours also payable.
14) Benefit payout is fixed irrespective of actual expenses incurred.
Major Surgical Benefit (MSB)
Feature Principal Insured (PI) Insured Spouse, Parents/In-Laws Insured Dependent
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Children
S.A. (MSB S.A.) 100 times of HCB 100 times of HCB of Spouse/each parent
100 times of HCB of each
child
Max. annual
benefit
100% of MSB SA 100% of MSB SA 100% of MSB SA
Max. Life Time 800% times MSB SA 800% times MSB SA 800% times MSB SA
8. Quick Cash facility: 50% of eligible MSB amount payable subject to approval from the TPA
9. MSB shall be a percentage of sum assured.
10. Major Surgical Benefit Amount, as calculated as % of Sum Assured, payable regardless of actual
costs incurred.
11. Premium waiver benefit: When any insured undergo major surgery under category 1 or 2,
premium payable for one year from the next
12. Premium due date coinciding or following the date of surgery is waived.
13. Rs.1000/- payable in lump sum towards Ambulance expenses.
14. Applicable for surgery conducted only within India.
Day Care Procedure Benefit (DCPB) (under Basic Plan)
An Insured under this Plan undergoing any specified Day Care Procedure mentioned in the Day Care
Procedure Benefit Annexure.
Feature Principal Insured (PI)
Insured Spouse,
Parents/In-Laws
Insured Dependent
Children
Lump sum benefit
payable
5 times of Applicable
Daily Benefit (ADB)
5 times of Applicable
Daily Benefit (ADB)
5 times of Applicable
Daily Benefit (ADB)
Maximum annual benefit, each insured 3 Surgical Procedures
Maximum Life Time 24 Surgical Procedures
If a Day Care Procedure Benefit is performed no Hospital Cash Benefit shall be paid.
Other Surgical Benefit (OSB) (under Basic Plan)
An Insured under the Plan, due to medical necessity, undergoing any Surgery not listed under Major
Surgical Benefit or Day Care Procedure Benefit and the stay in hospital exceeds a continuous period of 24
hours.
Feature Principal Insured (PI)
Insured Spouse,
Parents/In-Laws
Insured Dependent
Children
Daily benefit amount 2 times of appli.HCB 2 times of appli.HCB 2 times of appli.HCB
Maximum annual benefit, each insured 15 days in year 1 and 45 days per year thereafter
Maximum Life Time, each insured 360 days
For More Information Please Call:- Giribabu, 09885126368, 9246826368..

The Children plan purpose may difrent-2 with each individual investor, for some one it may be for children education, while for other may be for marriage, or for other its may be for child secure future. LIC Children plan are design to give good and financially secured life to your child. 

If life insurance buying is approached in the proper manner it can be very beneficial to yourself and your family. And LIC Children plan gives you option to choose to fit your need, such as listed in below list 

1. LIC Jeevan Anurag: this is a traditional money back plan. It is a participating child plan in which you get bonuses based on the performance of the company. It is a money back plan as it begins payout in the last three years of policy term before maturity. 
   
   Details : LIC Jeevan Anurag
2. LIC Child Career Plan : LIC of India design this plan to notonly  meet the rising educational and other needs of growing but also offer the risk cover on the life of child not only during the policy term but also during the extended term (i.e. 7 years after the expiry of policy term).
   Details : LIC Child Career Plan
3. LIC Komal Jeevan: If you want Money Back Plan that provides financial protection against your death during the term of plan with periodic payments on survival at specified durations to your child LIC Komal Jeevan is for you. This plan can be purchased by any of the parent or grand parent for a child aged 0 to 10 years.
4. LIC Jeevan Kishore :  This is an Endowment Assurance Plan available for children of less than 12 years of age. The policy  may be purchased by any of the parent/grand parent.
5. LIC Jeevan Chhaya: If you are looking Endowment Assurance plan for children that provides financial protection against death throughout the term of the plan. This is a with-profits plan and  participates in the profits of the Corporation’s life insurance  business.  It gets a share of profits in the form of bonuses.Simple Reversionary Bonuses are declared per thousand Sum Assured annually at the end of each financial year.
6. LIC Komal Jeewan: Plan with payment of premium ceasing on policy anniversary immediately after the child attains 18 years of age. The plan, besides offering risk cover, also offers  payment of Sum Assured in installments at age 18,20,22,24 and Guaranteed and Loyalty additions, if any, at the age 26.
7. LIC Marriage Endowment or Educational Annuity Plan: This is an Endowment Assurance plan that provides for benefits on or from the selected maturity date to meet the Marriage/Educational expenses of the named child.
8. LIC Children's Deferred Endowment Assurance Plan: an Endowment Assurance plan that enable a parent or a legal guardian or any near relative of the child (called proposer) to provide insurance cover
   on the life of the child (called life assured).
9. CDA Endowment Vesting At 21
10. CDA Endowment Vesting At 18

For More Information Please Call:- Giribabu, 09885126368, 9246826368.

LIC Monthly Recurring type Scheme


This is like a Post office or Recurring Deposit Scheme. You can deposit Yearly, Hly, Quarterly or Monthly (ECS) in LIC scheme


Maturity received in LIC scheme is Tax Free under section 10-10d of income Tax act.


You can withdraw partial of full amount if necessary after 10 years. 


The amount deposited in LIC is exempted under section 80c of income Tax act.


You can continue LIC scheme after 10 years. 


In case of death 250 times monthly premium + Total Premium paid - (1st years premium & Extra premium paid ) + LA if any payable.


If you forget to take maturity at the end of 10 years, You can get return beyond 10 years in LIC scheme. This is not available in Post office scheme. 
LIC v/s Monthly Recurring Scheme 


Maturity at the end of 10 years in Monthly Scheme


PREMIUM LIC Jeevan Saral POST OFFICE LIC GAIN 
500 106452 + Free insurance 89010 - income Tax 17442 
1000 212904 + Free insurance 178021 - income Tax 34883 
1500 319356 + Free insurance 267031 - income Tax 52325 
2000 425808 + Free insurance 356042 - income Tax 69766 
2500 532260 + Free insurance 445052 _ income Tax 87208 
3000 638712 + Free insurance 534063 - income Tax 104649 
3500 745164 + Free insurance 623073 - income Tax 122091 
4000 851616 + Free insurance 712084 - income Tax 139532 
5000 1064520+ Free insurance 890105 - income Tax 174415

For More Information Please Call:- Giribabu, 09885126368, 9246826368.

In the ever demanding and competitive environment , it is essential to provide the best education to your children which can be very expensive. Fortunately, the sooner you start investing for their education , the more flexibility you'll have and will enable your children to achieve proficiency in their career endeavors. This would make the children proud of their parent's effort and call them The Best Parents.


LIC now introduces a new plan to take care of these needs – A Komal Jeevan Plan with payment of premium ceasing on policy anniversary immediately after the child attains 18 years of age. The plan, besides offering risk cover , also offers payment of Sum Assured in installments at age 18,20,22,24 and Guaranteed and Loyalty additions, if any, at the age 26.

Eligibility:


Minimum Age at entry - 0 years Maximum Age at entry - 10 years


Maturity age - 26 years


Mode of Premium - Single premium, Yearly, Half-yearly, Quarterly, Salary Savings Scheme.


Minimum Sum Assured - Rs.1,00,000/- Maximum Sum Assured - Rs.25,00,000/-

Proposer:


In most cases, father would be the proposer under the plan. But, if mother of the child has income of her own i.e. female category I and II she can also propose under the plan. If both parents are not alive, then legal guardian can propose under the plan.


Medical Examination :


No medical examination of the Life assured is required.

Vesting:


Policy shall automatically vest in the life assured on the policy anniversary immediately after the life assured attains majority .


Guaranteed Surrender Value:


This policy can be surrendered for cash after expiry of 3 policy years, provided at least 3 years’ premiums have been paid under an annual premium policy or the premium under Single Premium Policy. The Guaranteed surrender value allowable under this policy is –


(a) Annual Premium Policy:


Before the date of commencement of risk : 90% of the premiums paid excluding the premiums paid during the first year.


After the date of commencement of risk : 90% of the premiums paid before the date of commencement of risk excluding the premiums paid during the first policy year plus 30% of the premiums paid after the date of commencement of risk.


(b) Single Premium Policy:


The surrender value will be 90% of the Single Premium.


The Guaranteed Surrender Value calculated above will be subject to following deductions:


Total amount of installment benefits that might have been paid earlier. 
All extra premiums and/or any other premium including premium for Premium Waiver Benefit and/or Term Rider Premium, if any. 
Cash value of any existing Guaranteed Additions will also be allowed, provided the risk has commenced under the policy. 
Revival of Discontinued Policies:


If the policy has lapsed, it may be revived during the life time of the Life Assured, but within a period of 5 years from the date of the first unpaid premium and before the premium ceasing date, on submission of proof of continued insurability of the life assured or proposer, if Term Rider Benefit or Premium Waiver Benefit is opted for, to the satisfaction of the Corporation and the payment of all the arrears of premium together with interest at such rate as may be fixed by the Corporation from time to time compounding half-yearly. In case of revival of policy before the date of commencement of risk, the submission of Declaration of Good Health in form No. 720 only will be necessary.

Benefits:
Installment Benefits:


The Sum Assured under this plan will be paid in installments at periodic intervals provided the policy is in force for full sum assured as under:


a) 20% of the Sum Assured on the policy anniversary immediately after the Life Assured attains the age of 18 years.


b) 20% of the Sum Assured on the policy anniversary immediately after the Life Assured attains the age of 20 years.


c) 30% of the Sum Assured on the policy anniversary immediately after the Life Assured attains the age of 22 years.


d) 30% of the Sum Assured on the policy anniversary immediately after the Life Assured attains the age of 24 years.


Guaranteed Additions:


Rs.75 per thousand Sum Assured per annum at the end of each policy year will be added to the policy by way of guaranteed additions provided the policy is in full force,


The Guaranteed Additions will be payable


(i) on death or


(ii) on maturity i.e. on policy anniversary immediately after the Life Assured attains the age of 26 years, provided the risk has commenced under the policy.


Loyalty Addition:


Loyalty Additions will also be payable on maturity or on death after the commencement of the risk under the policy based on the rates declared from time to time , depending on the experience of the Corporation.

Death Benefit:


In the event of unfortunate death during the term, after the commencement of risk but before policy matures, the Sum Assured together with Guaranteed Additions is payable without any deduction or adjustment for the amount that may have been paid earlier by way of instalment benefits.


Premium Waiver Benefit:


Premium waiver benefit can be availed by the proposer under this plan for which additional premium will be payable. Lives up to the age of 50 (nearer birthday) are eligible, subject to normal underwriting requirements.


Term Rider Benefit:


Term Rider Benefit can be availed by the proposer to the extent of 20% of the basic Sum Assured under the policy not exceeding Rs.100000/-. The benefit will be payable in case the proposer dies before the policy anniversary on which the child completes 18 years. Lives up to the age of 50(nearer birthday)are eligible for this benefit subject to normal underwriting requirements . 
For More Information Please Call:- Giribabu, 09885126368, 9246826368.

Lic's Jeevan Ankur Is a Best plan for your Child.

More Information Please Call:- 09885126368 and e-mail: licbestplang@gmail.com,  visit www.licindia.in