Month: February 2012

LIC JEEVAN VRIDDHI

( A Non ULIP, Single Premium, Guaranteed Maturity Plan, Table no. 808)

LIC OF INDIA has launched another new product LIC JEEVAN VRIDDHI. It is a single premium non-market linked plan which provides for payment of Guaranteed Maturity Sum Assured along with Loyalty Addition, on maturity. Under this plan death benefit is the Basic Sum Assured. The benefits and other details of this plan are given below.

Buy LIC JEEVAN VAIBHAV

Maturity Benefit:
At the end of the policy term, maturity benefit equal to the Guaranteed Maturity Sum Assured along with Loyalty Addition, shall be payable. Guaranteed Maturity Sum Assured will depend on the entry age of the Policyholder and the single premium excluding extra premium, if any.

LIC HELPLINE

Case 1: If someone who is in 30% tax slab invest Rs 1,00,000/- in it he will save Rs30,000/- as tax benefit so his net investment becomes Rs 70,000/- and on which he is getting Rs 2,21,651 which is 100% tax free so the net yield in this plan is more than 12%.

Case 2:  If the investor is in 30% tax slab and his 1lac limit of secton 80 C already used, even it is great investment for him as if he had invested in banks he has to pay the taxes on maturity @30% (Rs 121651 @ 30% = 36495 goes in taxes ) but here in LIC JEEVAN VRIDDHI he is not taxed at all so still it is a good investment.

Death Benefit:
On death of the life assured during the policy term, Basic Sum Assured i.e. 5 times of single premium excluding extra premium, if any, shall be payable.

To Buy this policy visit http://www.lichelpline.com

 

Why one should buy LIC JEEVAN VRIDDHI?

a) In the time of uncertainity, LIC JEEVAN VRIDDHI is the only guaranteed plan.

b) This is one time (Single Premium) investment LIC POLICY in which the customer get returns alongwith  insurance.

c) You can get loan on your investment at very reasonable rate 10.25% per annum.

d) There is tax benefit on the premium under section 80C.

e) The maturity is also tax free under section 10.10D.

f) Best plan for people with High Income group as they can get tax benefit on the premium and the maturity will also be tax free.

Buy LIC JEEVAN VAIBHAV

 

Eligibility Conditions and Restrictions
a) Minimum Entry Age : 8 years (completed)
b) Maximum Entry Age : 50 years (nearest birthday)
c) Mode of premium payment : Single premium
d) Minimum Single Premium : Rs.30,000/-
e) Maximum Single Premium : No Limit
The Single Premium shall be in multiple of Rs. 1000/-
f) Policy Term : 10 years
Age at entry of the Policyholder is to be taken as age nearest birthday except for the
minimum age at entry i.e. 8 years.

Guaranteed Surrender Value
The Guaranteed Surrender Value will be available after expiry of one policy year.
The Guaranteed Surrender Value shall be 90% of the Single premium paid excluding
any extra premium, if any.

Special Surrender Value
Special Surrender Value will be payable, if it is more favorable to the policyholder. The Special Surrender Value will be the discounted value of the Guaranteed Maturity Sum Assured. The discount factors shall be the special surrender value factors used for Endowment Assurance plan, which will depend on the duration elapsed since commencement of the policy.

Loans
Loan facility is available under this plan, after completion of one policy year subject to following conditions:
a) Loan can be granted after completion of one policy year subject to a maximum of 70% of Surrender Value.
b) The rate of interest to be charged on loans granted under this plan will be 10.25% p.a. compounding half-yearly and the same would be subject to review from time to time by the Corporation.

Back-dating :
The policies can be dated back within the financial year, as usual. Back-dating interest will be charged at the rate of 10% p.a., at the time of completion of policy, for dating back in excess of one month. The interest shall be charged even where the policy is back dated to a lean month.

Proposal Form :
Proposal Form No. 300 or 340, as the case may be shall be used under this plan.

Buy LIC JEEVAN VAIBHAV

Download power point presentation of Jeevan_Vriddhi

Download Guaranteed maturity Sum assured LIC JEEVAN VRIDDHI

 

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LIC GUARANTEED (178+5) Vs MAX NEW YORK’S LIFE PARTNER PLUS
Posted by:V.K. sharma, February - 27 - 2012

LIC OF INDIA has many plans and if they are combined well then it can be better than any other plans of any Life insurance company.

One such example is combination of LIC JEEVAN TARANG with LIMITED WHOLE LIFE PLAN shows how it can be better than Max New York’s LIFE PARTNER PLUS.

In this example 178-20-6( For 5lacs )+5-6(for 1 lac) is taken with 6 yrs of premium paying term to compare with Max New York’s LIFE PARTNER PLUS.

Case where LIC wins over Max New York’s LIFE PARTNER PLUS.

1. Higher Insurance and keep on increasing.

2. Higher Money Back Rs27500 (5.5% of 5lacs) compare to 22500 (7.5% of 3lacs)

3 Money back ( Returns) starts after 20yrs where in Max New York’s LIFE PARTNER PLUS money back (Returns) starts at the age of 61

4. Loan available in LIC GUARANTEED + after 3 yrs whereas no loan is available in Max New York’s LIFE PARTNER PLUS.

5. After 20yrs Money back higher than total premium paid comes as lump sum in LIC GUARANTEED +, whereas in Max New York’s LIFE PARTNER PLUS only Sum Assured comes at 75yrs. of age

6. Another Higher Maturity comes at the age of 80, whereas in Max New York’s LIFE PARTNER PLUS.there is not even any insurance.

7. Whole Life insurance of Rs 5 lac in LIC GUARANTEED +

 

Life Partner Plus LIC + (178+5)
S.No Age Premium Insurance Returns Age Premium Insurance Returns
1 36 121659 300000 36 54763 631000 0
2 37 121659 300000 37 54763 662000 0
3 38 121659 300000 38 54763 693000 0
4 39 300000 39 54763 724000 0
5 40 300000 40 54763 755000 0
6 41 300000 41 54763 786000 0
7 42 300000 42 817000 0
8 43 300000 43 848000 0
9 44 300000 44 879000 0
10 45 300000 45 910000 0
11 46 300000 46 941000 0
12 47 300000 47 972000 0
13 48 300000 48 1003000 0
14 49 300000 49 1034000 0
15 50 300000 50 1065000 0
16 51 300000 51 1096000 0
17 52 300000 52 1127000 0
18 53 300000 53 1158000 0
19 54 300000 54 1189000 0
20 55 300000 55 740000 480000
21 56 300000 56 747000 27500
22 57 300000 57 754000 27500
23 58 300000 58 761000 27500
24 59 300000 59 768000 27500
25 60 300000 60 775000 27500
26 61 300000 22500 61 782000 27500
27 62 300000 22500 62 789000 27500
28 63 300000 22500 63 796000 27500
29 64 300000 22500 64 803000 27500
30 65 300000 22500 65 810000 27500
31 66 300000 22500 66 817000 27500
32 67 300000 22500 67 824000 27500
33 68 300000 22500 68 831000 27500
34 69 300000 22500 69 838000 27500
35 70 300000 22500 70 845000 27500
36 71 300000 22500 71 852000 27500
37 72 300000 22500 72 859000 27500
38 73 300000 22500 73 866000 27500
39 74 300000 22500 74 873000 27500
40 75 300000 300000 75 880000 27500
41 76 76 887000 27500
42 77 77 894000 27500
43 78 78 901000 27500
44 79 79 908000 27500
45 80 80 500000 735500
46 81 81 500000 27500
47 82 82 500000 27500
48 83 83 500000 27500
49 84 84 500000 27500
50 85 85 500000 27500
51 86 86 500000 27500
52 87 87 500000 27500
53 88 88 500000 27500
54 89 89 500000 27500
55 90 90 500000 27500
56 91 91 500000 27500
57 92 92 500000 27500
58 93 93 500000 27500
59 94 94 500000 27500
60 95 95 500000 27500
61 96 96 500000 27500
62 97 97 500000 27500
63 98 98 500000 27500
64 99 99 500000 27500
65 100 Premium Paid Total Maturity 100 Premium Paid 500000 27500
Net Amount 364977 615000 328578 2425500
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PREMIUM CALCULATOR for LIC JEEVAN ANKUR and FORM FOR LIC JEEVAN ANKUR
Posted by:V.K. sharma, February - 08 - 2012

Download premium Calculator for LIC JEEVAN ANKUR. Premium Calculator for LIC JEEVAN ANKUR.

LIC JEEVAN ANKURNote: Form 300 is used for LIC JEEVAN ANKUR and you can download form 300 from http://lichelpline.com/blog/2011/12/27/lic-300-form-download-lic-form-300-download-lic-proposal-form-300-free-download-form-300-of-lic/

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