LIC JEEVAN ANKUR : BEST CHILD PLAN EVER FROM LIC FOR KIDS
LIC OF INDIA has launched one more plan on 23rd January 2012 and added one more option in the bouquet of CHILD PLANS. LIC OF INDIA had already 7 child plans (namely JEEVAN CHHAYA, MARRIAGE ENDOWMENT, KOMAL JEEVAN, JEEVAN KISHORE, JEEVAN ANURAG, CHILD CAREER PLAN & CHILD FUTURE PLAN ), before the launched of LIC JEEVAN ANKUR. Now the question arises how this plan is different from other 7 plans and how will it be better than the child plans of other pvt. insurers.
Main features of LIC JEEVAN ANKUR as follows:
1. It is with profit conventional plan ( Not related to market ) so all investment will be debt based. It means over the term of 20yrs it will easily give the yield of nearly 8%.like other LIC PLANS.
2. In LIC JEEVAN ANKUR, parents will be insured not the child. Means the parents will be the owner of the plan and at the maturity the funds will go to the parent and they can use it wisely for their kids.
3. DEATH BENEFIT:
A) On death of the Life Assured during the policy term: Sum Assured( equal to parents Insurance in this plan) shall be payable to the nominee( the child) and an Educational income benefit equal to 10% of parent’s insurance will be payable on each policy anniversary, from the policy anniversary coinciding with or next following the date of death, till the end of the policy term.
For example if an insurance of Rs 10lac is taken in LIC JEEVAN ANKUR by the proposer then a) in case of death of the proposer, Rs 10lac (in case of normal death ) and Rs 20lacs (in case of accidental death) will be given to the child immediately and b) future premium will be waived if CIR opted also c) Rs 1,00,000 per annum will be given to the child for educational expenses per annum on the policy anniversary till the end of the term and also d) the maturity amount of Rs 10lac along with the bonus (loyalty) amount will be given to the child.
B) On death of the child, when parents are alive, the Life Assured (parents ) will have an option to nominate another child or any person and the policy will continue with the same benefit payable to new nominee/legal heirs after the death of the Life Assured during the term of the policy. Means no insurance amount will be given at the death of the child but simply another child or person will replace the nominee as parents are insured in LIC JEEVAN ANKUR not the child.
3. Tax Benefit : Premium paid in this policy is 100 % tax free under section 80C and the maturity will also be tax free under section 10 (10D)
HOW LIC JEEVAN ANKUR IS BETTER THAN CHILD PLANS OF OTHER PVT. INSURERS.
1. Educational Income benefit in case of death of the parents is the new concept first time launched by LIC OF INDIA in a child plan.
2. Bonus rates in LIC OF INDIA is much higher than the bonus available in the plans of pvt. insurers.
3. Lesser premium: LIC OF INDIA charges no extra premium for premium waiver benefit in case of death of the parent in LIC JEEVAN ANKUR and also LIC is not charging any thing extra for EDUCATIONAL INCOME BENEFIT whereas in pvt. insurers nothing comes for free.
4. LIC SOVEREIGN GUARANTEE make it safest to invest in lic but there is no such guarantee exists with any plan of any pvt. insurers.
The list of benefits of LIC JEEVAN ANKUR for you and your family and how it is better than other plans of pvt. insurers are many. To know more or to take this plan to secure the future of your loving kids contact LIC authorized agents visit LIC HELPLINE.
Source LIC JEEVAN ANKUR