Month: January 2016

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.

LIC JEEVAN SHIKHAR
LIC JEEVAN SHIKHAR

This plan also takes care of liquidity need through its loan facility.

BENEFITS:

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:

  1. Minimum Entry Age                                      : 6 years (completed)
  2. Maximum Entry Age                                     : 45 years (nearer birthday)
  3. Sum Assured on Death                                : 10 times of tabular single  premium
  4. Minimum Maturity Sum Assured                   : Rs. 100,000/-
  5. Maximum Maturity Sum Assured                  : No Limit

(Maturity Sum Assured shall be in multiple of Rs. 20,000/- only.)

  1. Policy Term                                                  :15 years
  2. Premium payment mode                             : Single premium only

 

LIC JEEVAN SHIKHAR
LIC JEEVAN SHIKHAR

Loan:

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.

buy jeevan shikhar
buy jeevan shikhar
buy lic JEEVAN SHIKHAR
buy lic JEEVAN SHIKHAR

 

Jeevan Shikhar lic
Jeevan Shikhar lic
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JEEVAN LABH VS ENDOWMENT PLAN
Posted by:V.K. sharma, January - 20 - 2016

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.

Buy LIC jeevan labh plan
Buy LIC jeevan labh plan

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:

Guaranteed adition in Jeevan Labh Total Premium is less in Jeevan Labh Tax benefits of Jeevan Labh

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LIC JEEVAN LABH : TABLE NO 836
Posted by:V.K. sharma,

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.

Why one should buy jeevan labh Total Premium is less in Jeevan Labh Tax benefits of Jeevan Labh
Buy Jeevan labh Plan
Buy Jeevan labh Plan

Buy Jeevan labh Plan

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