Double payment made for my LIC policy
Often people complaint that double payment made for their LIC policy by them at the due date. So how to get the extra amount refund paid for their LIC.
There are various cases that take place
- When sometimes double payments are made by the policyholder for their policy due, one payment directly credit into their account back within 48hours.
- If the extra payment made by them does not credit to their account automatically in 48hours, it means that their extra amount is transferred to their LIC home branch. By writing to the home branch you can take extra amount back.
Note: Unless you will not ask for the refund for the extra payment to your home branch, it will remain lying it with your home branch in their deposit account. so do ask for it.
Note: How to know which is your home branch. It is written on your premium receipt and the policy bond given to you. Even sometimes the phone number is also written on them.
Higher Maturity in LIC Plans
There are various life insurance companies operating in India but why there is higher maturity in LIC Plans on comparing with the plan or policies of other life insurance companies.
LIC India is operating since 1956. Over these long years, the total life fund of LIC has crossed Rs 20lakh Crores.
You name any reputed company or bank LIC has stake in that. LIC holds shares holding in a total of 27 Nifty companies. The major companies where LIC has raised its stake include Infosys, RIL,Coal India Ltd, Cairn India. ITC, Power Grid Corp, NTPC, Siemens, Bharti Airtel and Hero MotoCorp. Mahindra & Mahindra, HDFC Bank, ICICI Bank, Tata Motors, L&T, HDFC, Wipro, SBI, Maruti Suzuki, Dr Reddys, Bajaj Auto etc. Among the Nifty companies, LIC’s holding in terms of value is estimated to be highest in ITC (Rs 27,326 crore), followed by RIL (Rs 21,659 crore), ONGC (Rs 17,764 crore), SBI (Rs 17,058 crore), L&T (Rs 16,800 crore), and ICICI Bank (Rs 10,006 crore). These are companies which are growing and so it LIC.
In FY14, LIC invested Rs 2.25 lakh crore in government securities, bonds, infrastructure, debenture and equity. The insurer had booked Rs 21,000 crore profit from sale of equities and churning of the portfolio.
With respect to the investment in infrastructure and the social sector, LIC invested Rs 10,995.33 crore in power, Rs 4,121.74 crore in housing, Rs 35.72 crore in water supply and sewerage, and Rs 5,012.13 crore in other infrastructure in FY13.
A whopping 25 per cent rally in the equity markets boosted the net profit, or valuation surplus in the official language, of Life Insurance Corporation by 10.4 per cent in 2014-15 at Rs 36,087 crore.
As per the LIC Act, the corporation has to distribute 95 per cent of its profits with the policyholders, and accordingly the financial powerhouse paid Rs 34,283 crore to its millions of policyholders in the year, while the remaining 5 per cent worth Rs 1,804.35 crore was paid to its owner, the government.
Now one can understand that when LIC is earning this much profit and 95% of that is going for its policyholders so the point is very much clear that there is higher maturity in LIC Plans. So buy today.
Address Change in LIC Policy?
Address change in LIC policy, LIC policy में address change कराने का तरीका
LIC Policy में address change करने के लिए आप नीचे लिखे तरीकों में से कोई भी फॉलो कर सकते हैं
1. Offline from Home Branch Only : अगर आपको अपनी LIC policy की home branch (जहाँ से policy ली गई थी ) पता है और आप वहाँ जा सकते है तो आप अपनी home branch में एक लेटर लिखकर दे सकते है ( branch manager के नाम ) की आपको अपनी LIC policy में address change कराना है तो आपका काम बड़े आसानी से हो सकता है
documents जो साथ लगाने है
1 . ID proof (Pan Card, Voter Card, Adhar card )
2 Address Proof ( Voter Card, Adhar card, Electric Bill, Mobile Bill, Water Bill, Rent Agreement etc )
2. Offline from any LIC Branch : EDMS (Enterprise Data Management System) ये एक सिस्टम है LIC में जिसमे LIC की सभी पॉलिसियों को scan किया जाता है उसके बाद उन्हें LIC database में upload कर देते हैं Upload करने के बाद उन्हें किसी भी LIC branch से access कर सकते हैं अगर आपकी LIC Policy की image भी यदि आपकी पास वाली किसी भी ब्रांच में visible है तो आप अपना address, LIC policy में कहीं से भी change करा सकते हैं और ऊपर लिखे documents साथ जरूर ले ले
Note :-ये जानने के लिए की आपकी LIC policy की image visible है या नहीं तो आप 01128042584 या 01128042585 पर भी call करके confirm कर सकते हैं अगर इन numbers पर कोई जवाब नहीं दे रहा है तो आप LIC Helpline numbers पर भी कॉल कर सकते हैं
3. Online through Email: ऊपर दी Information (point no. 1 में ) को E-mail से भी आप अपनी home branch में भेज सकते हो यदि आपको अपनी home branch का Email Id मालुम है तो । यदि नहीं मालूम तो आप 01128042584 या 01128042585 पर भी call करके ले सकते हैं या आप LIC Helpline numbers पर भी कॉल करके मदद ले सकते हैं
यदि आपको यह जानकारी Change address in LIC policy महत्वपूर्ण लगी हो तो http://www.facebook.com/lichelpline पर like जरूर करें
The Jeevan Shikar, one time, tax saving, life insurance policy is one of the best plan available in Indian financial market as far as guarantee of customer’s money is concerned.
There are many financial instrument are available in Indian financial market like FD, ULIP, GOLD, Mutual Funds, ELSS, Stocks etc. Many of them claim to give you good interest rates but there is only one financial instrument which is telling you the maturity amount at the time of investment. It is giving many benefits other than good returns like
- Good Risk Cover- The customer gets risk cover for next 15yrs by doing a single investment in LIC. This risk cover will be ten times of the premium paid.
- Tax Free Maturity-There is no financial instrument avaiable in the Indian financial market which can help people to save their taxed on maturity. But LIC JEEVAN SHIKHAR provides tax free maturity.
- Safe- The investment in LIC JEEVAN SHIKHAR is 100% safe. The money invested in this plan will be invested by LIC only in debt market, hence no risk of returns.
Note: This policy is closing on 31st March 2016. Only few days left. Act Now!
LIC JEEVAN SHIKHAR plan (the best plan for tax free maturity ) is closing on 31st March 2016. The Actual calculations shows that this plan is better than fixed deposit in banks. These days the rate of interest on fixed deposit in banks is 7.5% but for a tax payer or whose income is more than 10lakhs, LIC JEEVAN SHIKHAR is better than FD of the bank.
Example: Suppose Mr. Ram aged 35 is investing Rs 96,184 in bank for a term of 15yrs at the rate of 7.5% . If Mr Ram is in 30% slab than for every investment he is doing in bank will attract 30% tax that means the net rate of interest for him will be 7.5% minus 30% of 7.5% that is 7.5-2.25=5.25%. In this case his money will be doubled in 13.72yrs as per 5.25% rate of interest and with this rate of interest his money after 15years will be Rs 207,221.
But LIC JEEVAN SHIKHAR is giving you much more than this
- For an investment of Rs 96,184 the customer will get Rs 2,40,000 (Rs 2,20,000 MSA +20,000 LA) after 15yrs which is definitely more than bank FD.
- In Bank the customer is getting just interest but in LIC he is getting life insurance that too ten times of the premium paid that is in this case Rs9,61,840 which is absolutely free..
- If you buy a term plan of Rs 9,61,840 for a tenure of 15yrs at the age of 35 then the annual premium will be Rs 2000 for the term plan. That is customer saves Rs 30,000 for the term plan. Which is free in this plan.
- If you consider the cost of insurance than net investment of the customer will be Rs 96,184-30,000=Rs66,184 and the returns of Rs 2,40,000 on this investment is better than any investment in Indian market available today.
LIC JEEVAN SHIKHAR
(Single Premium, Guaranteed, Tax Free Maturity, 10 times insurance Cover, Better than long term FD, Best for Tax Paying People)
Jeevan Shikhar is a guaranteed, 100% safe (No Share Market Risk) fix term, tax free policy. It is available only till 31st March 2016.
There are many people in India who are in 30% tax bracket and they are looking for a plan which can help them to save their tax U/S 80C and also which can provide them a tax free maturity. Jeevan Shikhar is specially design for those kind of people.
Note: Insurance cover in this plan is a feature which is not just securing their family financially but also provide them tax free maturity.
As per IRDA , policies with insurance cover more than or equal to ten times of premium are exempted from tax while paying the premium and while taking the maturity.
This plan also takes care of liquidity need through its loan facility.
Death Benefit: On death during first five policy years: Before the date of commencement of risk: Refund of Single Premium without interest.
After the date of commencement of risk: “Sum Assured on Death” equal to 10 times the tabular single premium shall be payable.
On death after completion of five policy years but before the stipulated Date of Maturity:
“Sum Assured on Death “equal to 10 times the tabular single premium along with Loyalty Addition, if any, shall be payable.
Maturity Benefit: On maturity, the Maturity Sum Assured along with Loyalty Addition, if any, shall be payable.
ELIGIBILITY CONDITIONS AND OTHER RESTRICTIONS:
- Minimum Entry Age : 6 years (completed)
- Maximum Entry Age : 45 years (nearer birthday)
- Sum Assured on Death : 10 times of tabular single premium
- Minimum Maturity Sum Assured : Rs. 100,000/-
- Maximum Maturity Sum Assured : No Limit
(Maturity Sum Assured shall be in multiple of Rs. 20,000/- only.)
- Policy Term :15 years
- Premium payment mode : Single premium only
Loan facility shall be available under the plan at any time during the policy term after. 3 months from the date of acceptance of risk or after expiry of the free-look period, whichever is later. Depending on the age at entry, the maximum loan that can be granted as a percentage of surrender value for different policy terms are as under:
|Policy year||Maximum Loan Amount as a % of surrender value for age at entry <=35||Maximum Loan Amount as a % of surrender value for age at entry >35 years.|
|*3 month to 3rd||55%||35%|
|4th to 6th||65%||50%|
|7th to 9th||75%||70%|
|10th to 12th||80%||80%|
|13th to 15th||85%||85%|
*3 month means loan can be availed after three months from Date of acceptance of risk or after expiry of the Free-look period, whichever is later.
JEEVAN LABH VS ENDOWMENT PLAN
1. Premium payment is lesser.
There are many endowment plans in LIC like table no. 814 (Normal Endowment Plan), 815 ( New Jeevan Anand), 833 ( LIC Jeevan Lakshya) etc where maturity comes in the end of the term chosen by the policyholder.
For Example :
If Table no. 814 is taken in the name of Mr. Ram Kumar aged 30yrs for 21years for sum assured of Rs 10,00,000/- then his annual premium is 46069 (Excluding service tax) to be paid for total 21yrs that mean Mr. Ram end up paying Rs 9,61,449/- i.e. 46069X21=Rs 9,61,449
If Table no. 815 is taken in the name of Mr. Shyam Kumar aged 30yrs for 21years for sum assured of Rs 10,00,000/- then his annual premium is 53713 (Excluding service tax) to be paid for total 21yrs that mean Mr. Shyam end up paying Rs 11,27,973/- i.e. 53713X21= Rs11,27,973
If Table no. 836 is taken in the name of Mr. Rahim Kumar aged 30yrs for 21years for sum assured of Rs 10,00,000/- then his annual premium is 53601 (Excluding service tax) and the client is to pay for a term of 15yrs because in Jeevan Labh for 21yrs term the premium payment term is just 15yrs so Mr. Rahim end up paying in Jeevan labh is just 8,04,015/-
so the premium payment is least in Jeevan Labh which makes LIC JEEVAN LABH as the favourite among endowment plans.
2. Payment is limited
There are many people who are looking for a plan where they can premium for a lesser number of years even if they agree to maturity at a later date as most of the people are working in pvt. sector where they are more chances of unemployment. so they want to end up their responsibility by paying premium as early as possible.
To know more click on the link below:
LIC JEEVAN LABH
(Table No. 836)
Jeevan Labh is limited payment Endowment & Guaranteed Plan launched by LIC on 04th Jan 2016. As per LIC terminology the table number of this plan is 836. After a long time LIC OF INDIA has launched such a wonderful Plan. If you will have a look at this Plan then you can stop yourself buying for this plan. This plan is available for all age groups from 8yr to 59yr so age.
Term in Jeevan Labh Plan
There are three fixed terms in this plan 16yrs, 21yrs & 25 yrs. The premium payments are 10yrs, 15yrs & 16yrs respectively.
For term of 16yrs the premium paying term is only 10years i.e 836-10-16
For term of 21yrs the premium paying term is only 15years i.e 836-15-21
For term of 25yrs the premium paying term is only 16years i.e. 836-16-25
Age Entry in Jeevan Labh
Min Age Entry : 8 years
Max Age Entry : For Term 16yrs -59yrs
: For Term 21yrs- 54yrs
: For Term 25yrs- 50yrs
Minimum Sum Assured : Rs 2,00,000
Maximum Sum Assured : There is no upper limit in the multiple of Rs 10,000
Modes: Yearly, Half-yearly, Quarterly & Mly (ECS)
Click the below pictures to know why you should buy this plan.
Buy Jeevan labh Plan
LIC POLICY FOR GIRL CHILD
Girls are gift of god. In earlier times, people used to expect a boy child over a girl child. They used believe that a boy will serve them throughout their lives. But over a period of time this thought is changing, now in every sector girls are proving themselves better than boys. Even government is coming with new schemes so that people treat girls and boys equally. And studies proved that girls are better than boys in every field.
LIC OF INDIA has a launched a new LIC Policy for girl child, which provides full security to girl child education from Kindergarten to Post Graduation.
Normally the best and the safest investment from safety point of view is RD regular deposit in bank, In any situation the money will be safe though the returns are small.
LIC also brought a plan “Jeevan Lakshya Plan for girls” which is totally risk free. All investment in this plan goes into the debt market. “Means whatever you will invest in this plan that is 100% safe and secure“.
In this plan the maturity is “GUARANTEED“. If you are there then you have to make the payments till the end of the term and then the maturity will be given to you which you can use for the well fare of your girl child and in case due to any mis happening with you if you are not around even then LIC of India will definitely give maturity to your GIRL CHILD at the end of the term of the policy without taking any premium from the family of the girl child. that is premium will be waived for this policy so that girl should not be a burden for the family.
Due to above GUARANTEED maturity feature this plan is also called “SECURE MARRIAGE PLAN for girls”
Guaranteed Educational benefits: If you as parents are around then you will try to provide you the best education from kindergarten to post graduation to your “GIRL CHILD”
but in your absence LIC will provide a lump sum amount every year to the GIRL CHILD so that she can continue her education in the same manner.
Due to this above feature this plan is also called “GUARANTEED EDUCATION plan for GIRL CHILD.
LIC CUSTOMER PORTAL LOGIN ISSUE
Most of the time customers or even agents face problem like forget password of their LIC portal, sometimes when they don’t login for long time and forget their password. Many customers complaints regarding they misplaced their username for the LIC website.
Customers requiring their username and password for login at LIC website. www.licindia.in. There are various reasons for customer portal related problems.
- Sometimes when the website is under maintenance then customers or agents not able to login. so they should try after some time may be a day or two.
- If a customer forgets his username or password he can use forget password options at www.licindia.in and new fresh password will be sent to their registered email id.
- Sometimes the customers does not remember their registered email id’s and when they use option like forget password option at www.licindia.in site they don’t get password as the customer has no idea which email is registered at LIC portal.
- Password at LIC portal is a combination of UPPERCASE, LOWERCASE, ALPHABETICAL & SPECIAL CHARACTERS so many customer or agents remember but they forget whether the letters used is uppercase or lowercase. So it is always advisable to write the username and password while creating it.
Even after doing all the above mentioned steps the problem does not resolve then the customer or agents should contact their home branches from which they have taken their LIC polices.
LIC customers zones are also very supportive and they can also guide you regarding resolving this problem. For customer zone numbers please click here.
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- LIC CUSTOMER PORTAL LOGIN ISSUE on
- LIC Surrender Form; LIC surrender form 5074 download; LIC surrender form free download on
- JEEVAN LABH VS ENDOWMENT PLAN on
- Jeevan Saral : LIC Jeevan Saral : Jeevan Saral from LIC : Table no 165 on
- Jeevan Saral : LIC Jeevan Saral : Jeevan Saral from LIC : Table no 165 on