GOLD MINE
Posted by:V.K. sharma, July - 20 - 2022

When a new LIC advisor join LIC OF INDIA, then he needs to make the list of contacts that he has. But normally it is not easy for him to note it down on the piece of paper. From here you can download the pdf with which you can easily write the names of the people you know.

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How to Transfer LIC Policy from one branch to Another?
Posted by:V.K. sharma, November - 12 - 2021

When a person relocate himself from one place to another due to any reason, be it job change, promotion, marriage or any other reason. Then in that case the person wants to keep all his LIC policies near his residence. The purpose of shifting all the LIC Policies near his residence he can easily get support from the nearest branch of LIC. We also suggest that one should have LIC policy near his residence so that in case of emergency his family can also do the formality easily. 

The process is simple and easy. The person wants to change the branch of his LIC policy has to write the letter to the previous branch mentioning the name or the number of the new branch along with the id proof. 

The exact process is as follows:

Keep the ID proof ready (Pan/Aadhar/DL/Voter Card) ready with you. Keep the code of the old branch ready with you. It will be mentioned on the first premium receipt or policy bond. 

The letter format is:

To
The Branch Manager
LIC OF INDIA
Branch Code .......... //Note: Write old branch code
Address.............
// if address is also known
Pin Code........

Subject: Branch change in the policy number....................
//write the policy number

Sir,
I have taken the policy (//write policy number) from your branch (//write the branch code) and now I have shifted at the new address (//mention new address) so I want to transfer my LIC Policy from (//write old branch code) to (//write new branch code with address). Kindly get it done.

Id proof (Pan/aadhar) is attached alonwith.

Thanking you

Sincerely
Your Name.................
address.................
Mobile .................

 

Send the Letter & ID proof by email and the by courier also. Why by courier? so that it can be traced out, who received it in LIC, as when required. 

The same should also be sent by email. Before sending courier to the branch scan it with some good mobile scanner and do send the mail also. The Email id of the old will be bo_(branch code)@licindia.com. For example if the branch code is 112 (would be written on the premium receipt of policy bond) then the email id will be bo_112@licindia.com. This format is applicable to all the branches of LIC. 

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LIC POLICY MATURITY : ANYTIME ANYWHERE
Posted by:V.K. sharma, March - 20 - 2021
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Document Checklist : For Early Death Claim
Posted by:V.K. sharma, March - 12 - 2021
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Name difference in Policy & in Bank Account
Posted by:V.K. sharma, March - 09 - 2021

भारतीय जीवन बीमा निगम की पॉलिसी के अंदर कहीं पर भी यदि नाम में गलती है मतलब यह की पॉलिसी बांड के ऊपर लिखा हुआ नाम और बैंक पासबुक या चेक के ऊपर लिखा हुआ नाम दोनों में किसी तरह का भी अंतर है जैसे सरनेम नहीं है या फिर स्पेलिंग में कोई अंतर है तो यदि आपको अपनी पॉलिसी सरेंडर करनी है या मैच्योरिटी लेनी है या फिर उसका मनी बैक आना है तो आपका बैंक आपकी पॉलिसी से केवल तभी लिंक हो सकता है जब आप आपकी पॉलिसी बांड के अंदर और अपने बैंक मैं लिखे हुए नाम को बिल्कुल एक जैसा करवा के एलआईसी में जमा कराएंगे

इसके लिए ₹10 के स्टैंप पेपर के ऊपर कस्टमर को यह लिखवा कर देना पड़ेगा कि जो नाम उसके बैंक अकाउंट में है और जो नाम उसकी एलआईसी पॉलिसी बांड पर लिखा हुआ है वह दोनों एक ही रहती हैं भारत के नागरिक हैं आदि

इसमें बिल्कुल भी चिंता करने की आवश्यकता नहीं है कि मैटर क्या लिखवाना है जब आप उस व्यक्ति के पास जाएंगे जो स्टांप पेपर में डील करता है और उसे यह बात बताएंगे तो उसके पास एक फॉर्मेट होता है और उसे यह बात भली-भांति पता होती है तो आपको कोई समस्या नहीं आएगी

ध्यान देने वाली बात यह है कि इस स्टांप पेपर याने की एफिडेविट को नोटरी से या फिर oath कमिश्नर से अटेस्ट भी करवाना है जब यह डॉक्यूमेंट रेडी हो जाए उसके बाद ही एलआईसी में आप अपने डॉक्यूमेंट जमा कराएं

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Why one should choose LIC over PPF or bank deposit
Posted by:V.K. sharma, March - 08 - 2021
LIC VS PPF, LIC VS BANK
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why one should buy LIC JEEVAN UMANG in comparison with Hdfc’s Life Sanchay Plus
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Gold Mine, Goal Finder & 914
Posted by:V.K. sharma, July - 02 - 2020
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LIC JEEVAN SHANTI Table No 850
Posted by:V.K. sharma, September - 25 - 2018

LIC Jeevan Shanti Table No 850
“Single premium guaranteed immediate and deferred pension cum investment plan of LIC”

On the occasion of its 62nd birthday, LIC of India has launched superb pension cum investment plan LIC Jeevan Shanti . The best part with this plan is its guaranteed pension rates.  Weather you buy LIC Jeevan Shanti under immediate option or deferred option, the pension rates will remain guaranteed throughout life of the policyholder. LIC Jeevan Shanti can be bought on single life or on the Joint life. The concept of joint life has been redefined in LIC Jeevan ShantiLIC Jeevan Shanti can be purchased in the name of husband and wife jointly, a father and son jointly, father and daughter jointly, father and grandson jointly, mother and granddaughter jointly etc.  All possible combination of three generations from grandparents parents to kids but their ages should be greater than 30 years.  Age above 30yrs in Single life or in joint life is the minimum criteria to buy LIC Jeevan Shanti.

 

buy LIC jeevan Shanti
buy LIC jeevan Shanti

 

LIC Jeevan Shanti
LIC Jeevan Shanti

Question: What are options available under which Jeevan Shanti can be bought?

Answer: LIC Jeevan Shanti can be bought under Immediate Pension or Deferred Pension. The details of Immediate and Deferred pension are detailed below:

Under Immediate Pension(Annuity), the prospect can choose any of the following options in LIC Jeevan Shanti:

  • Option A :-Immediate Pension for life
  • Option B :-Immediate Pension with guaranteed period of 5 years and life thereafter
  • Option C :-Immediate Pension with guaranteed period of 10 years and life thereafter
  • Option D :-Immediate Pension with guaranteed period of 15 years and life thereafter
  • Option E :-Immediate Pension with guaranteed period of 20 years and life thereafter
  • Option F :-Immediate Pension for life with return of Purchase Price
  • Option G :-Immediate Pension for life increasing at a simple rate of 3% p.a.
  • Option H :-Joint Life Immediate Pension for life with a provision for 50% of the Pension to the Secondary Pensioner on death of the Primary Pensioner.
  • Option I :-Joint Life Immediate Pension for life with a provision for 100% of the Pension payable as long as one of the Pensioner survives.
  • Option J :-Joint Life Immediate Pension for life with a provision for 100% of the Pension payable as long as one of the Pensioner survives and return of Purchase Price on death of last survivor

The options available under Deferred Pension are:

  • Option 1 Deferred Pension for Single life
  • Option 2 Deferred Pension  for Joint life

LIC Jeevan Shanti

 

Question: What are the modes available for taking pension in LIC Jeevan Shanti?

Answer : Mode of annuity payments Annuity allowable under Immediate and Deferred annuity are yearly, half-yearly, quarterly or monthly installments. The pension shall be payable in arrears.

 

Question: What are the main features of LIC Jeevan Shanti?

Answer: LIC Jeevan Shanti is Non-linked, Non-participating, Single Premium Annuity Plan ( Immediate Annuity/ Deferred Annuity), Guaranteed Annuity rates, Pension is guaranteed for life of Single life or for joint life.

LIC Jeevan Shanti

 

Question: What are benefits available in LIC Jeevan Shanti on survival?

Answer: On Survival, under immediate pension option F (Single Life), Pension payments are paid as long as the annuitant is alive and on death, the pension will cease and purchase price(initial investment without GST) is payable to nominee. Under Deferred pension option, there are two cases

Case 1 for Single Life : On Survival nothing is paid during the deferment period and after the deferment period pension is payable to the pensioner whole life. On Death during deferment period purchase prize + Accrued Guaranteed Additions will be paid to the nominee. After deferment period higher of 110% of Purchase Price or Purchase Price (+) Accrued Guaranteed Additions (-) Total Annuity payouts till date of death is payable to the nominee.

Case 2 for joint life: On Survival, nothing is paid the during the deferment period and after the deferment period pension is payable till the life of primary annuitant and after the death of primary annuitant the pension is payable till the life of secondary annuitant. On death during the deferment period of primary annuitant nothing is payble to the secondary annuitant till the end of deferment period  and after deferment period guaranteed annuity is payable to the survivor till the end of his life and on the death of secondary annuitant after deferment period, higher of 110% of Purchase Price or Purchase Price (+) Accrued Guaranteed Additions (-) Total Annuity payouts till date of death is payable to the nominee.

 

LIC Jeevan Shanti

Question: What are conditions for immediate pension in LIC Jeevan Shanti?

Answer: Under Immediate Annuity in LIC Jeevan Shanti following are the conditions:

  • Minimum Purchase Price: Rs.1,50,000
  • Minimum Age at entry: 30 yrs (lbd)
  • Maximum Age at entry
    • 85 yrs (lbd) except Option F
    • 100 yrs (lbd) for Option F
  • Deferment Period is NOT APPLICABLE

 

Question: What are conditions for deferred pension in LIC Jeevan Shanti?

Answer: Under deferred Annuity in LIC Jeevan Shanti following are the conditions:

  • Minimum Purchase Price: Rs.1,50,000
  • Minimum Age at entry: 30 yrs (lbd)
  • Maximum Age at entry: 79 yrs (lbd)
  • Deferment Period is applicable
    • Minimum deferment period: 1 year
    • Maximum deferment period: 20 yrs (subject to maximum vesting age)
    • Minimum vesting age: 31 yrs (lbd)
    • Maximum vesting age: 80 yrs (lbd)

 

Question: What are options available for payment on death in LIC Jeevan Shanti?

Answer: Following are the options available for payment on death in LIC Jeevan Shanti:

  • Available for Immediate Annuity Options Option F and Option J
  • Available for Deferred Annuity Options Option 1 and Option 2
  • Annuitant has to choose any of the following options
    • Lump Sum Death Benefit :-Entire purchase price/death benefit to nominee
    • Annuitisation of Death Benefit : Benefit payable on death shall be utilized by the Nominee for purchasing an Immediate Annuity
    • In Installment : Benefit payable on death can be received in installments over a chosen period of 5/10/15 years with interest or Full or part amount of the death benefit
  • At the proposal stage
  • Options can be subsequently modified by the Annuitant
  • Options cannot be changed by the nominee

 

Question: What are the options NPS subscriber can take in Immediate Annuity under LIC Jeevan Shanti ?

Answer:  All options can  be take in Immediate Annuity under LIC Jeevan Shanti  by NPS subscriber in LIC Jeevan Shanti.

LIC Jeevan Shanti
LIC Jeevan Shanti

 

Question : Why one should purchase LIC Jeevan Shanti?

Answer : In today’s scenario interest rates are changing all over the world, specially in India the interest rates are lowest in 2018 on comparing interest rate in banks since independence lot of uncertainty is there among real estate PM Narendra Modi’s planning, housing for all slashing down Property rates all over India specially in metros like Delhi Mumbai Chennai Kolkata and Madras and people are not considering investment in property as their first priority now as it used to be a decade back. Investment experts do not suggest to invest lump sum amount n Mutual fund or stock market as market is very volatile these days investment in mutual funds and stock market for a layman May loose all his money so there are no such options are available for investment where one can get guaranteed Returns throughout life which are 100% safe and giving returns better than other option of investment for entire life not for just a single life but for Joint life as well.

People are finding it quite lucrative because LIC Jeevan Shanti is the only product which clearly States pension rates 20 years from now or 30 years from now or 40 years from now or entire life of two people buying LIC Jeevan Shanti jointly.

To know more how LIC Jeevan shanti is better than Bank FD

LIC Jeevan shanti is better than investment in Property

LIC Jeevan shanti should be first choice of NRI’s & HNI’s

How LIC Jeevan shanti is better than PMVVY?

 

LIC Jeevan Shanti

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