Category Archives: Uncategorized

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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Buy LIC Jeevan Akshay VI in Delhi
Posted by:V.K. sharma, July - 29 - 2018

Buy LIC Jeevan Akshay VI in Delhi

When it comes to investment in fixed deposit, Jeevan Akshay 6 of LIC is very popular these days because there is lot of uncertainty in banking rate of interest. People prefer to buy LIC Jeevan Akshay vi in Delhi rather than approaching bank for fixed deposit.

Buy LIC Jeevan Akshay VI in Delhi
Buy LIC Jeevan Akshay VI in Delhi

2 years back the rate of interest in banks were around 8.5%, today the rate of interest for fixed deposit in banks is around 7%. There is no guarantee what will be rate of interest in bank after two years. It can be 6% or 5% or 4%.In such situations when the rate of interest in banks are uncertain and  if someone is approaching the bank regarding a long term FD then even the banks are thinking twice 2 offer such a long fixed deposit schemes.  Becuase banks don’t want to create a liability for them.

Buy LIC Jeevan Akshay VI in Delhi
Buy LIC Jeevan Akshay VI in Delhi

 

Why People prefer to buy LIC Jeevan Akshay VI in Delhi?

Jeevan Akshay VI of LIC is the only option available whether it is bank or insurance company or any financial institution which provides a fixed and guaranteed rate of interest throughout the life of the policyholder. This feature of LIC’s Jeevan Akshay VI makes it favourite financial instrument for people buy LIC Jeevan Akshay VI in Delhi.

Under LIC’s Jeevan Akshay VI, the policyholder can choose the  mode of pension or the interest to be credited in his bank account via NEFT. He can choose any mode monthly basis, on quarterly basis, on half-yearly basis or annual basis. As the mode choosen by the policyholder the interest or pension will be given to him accordingly. LIC of India has made best system where the money credits into the policyholders bank account exactly on the 1st of every month as the mode of payment (Monthly, Quarterly, Half Yearly Or Yearly).

In LIC’s Jeevan Akshay VI, there is no worries to renew it every year or after every fixed interval as is required in case of FDs in Banks. Its totally peace of Mind. Simply buy it and the pension or the rate of interest will remain fixed throughout life, no need to worry about renewing it. The pension rate or rate of interest will remain fixed through out life.

Options under which LIC’s Jeevan Akshay VI can be purchased.

There are various options available in LIC’s Jeevan Akshay VI depends on one’s need one can choose under which mode one want to buy LIC Jeevan Akshay VI in Delhi.

Some Important terms required to note before understanding the options in LIC’s Jeevan Akshay VI.

In LIC’s Jeevan Akshay VI, the single premium( the lump sum amount investment) which is to be invested without taxes(CGST or SGST) is called Purchase Price.

 

Buy LIC Jeevan Akshay VI in Delhi
Buy LIC Jeevan Akshay VI in Delhi

There are 10 options available from which the policyholder can choose to buy LIC Jeevan Akshay VI in Delhi.

Option A: The rate of interest or the rate of pension is maximum because the pension is guaranteed throughout life but after the death of the policyholder the purchase price will not be returned to the nominee of the policyholder or one can say that the purchase price is forfeited by the LIC.

Option B, C, D & E: In these options the pension is guaranteed for 5 years, 10 years, 15 years or 20 years correspondingly and for lifetime there after but the pension rate is slightly lesser in this case then option A as mentioned above. The pension will be given to the policyholder throughout his life and it will remain guaranteed for 5 years, 10years, 15years or 20years  and there after for life but at the death of the policyholder the purchase price will not be returned to the nominee of the policyholder.

Option F: This is the favourite option for most of the people and they buy LIC Jeevan Akshay 6 in Delhi mostly under option f, in this option the policyholder gets lifetime guaranteed pension and after his death the purchase price or the amount invested in to Jeevan Akshay VI will be returned to his Nominee.

Option G, option H and option I are not that popular and not many people buy  LIC Jeevan Akshay VI in Delhi under these options G, H & I.

Buy LIC Jeevan Akshay VI in Delhi
Buy LIC Jeevan Akshay VI in Delhi

The most Popular Option J sometimes better than option F.

Like option F  one more option, the option J, which is also very popular. People who care about their spouses equally prefer to buy LIC Jeevan Akshay VI in Delhi. The best part in this option is first the policyholder gets the pension guaranteed throughout his life after his death his spouse also gets guaranteed pension throughout her life. The rate of interest will remain fixed and after her death, the money, the purchase price is again return to the nominee.

Buy LIC Jeevan Akshay VI in Delhi
Buy LIC Jeevan Akshay VI in Delhi

LIC’s Jeevan Akshay VI is beyond comparison. One who is aged between 30yrs to 85yrs of age, wants to have fix rate of interest for his money, he or she can invest a lump sum amount(Single Premium) in to Jeevan Akshay VI. These were many reasons why people buy LIC Jeevan Akshay VI in Delhi under F and under J option.

 

Is Jeevan Akshay 6 good for husband and wife?

Is Jeevan Akshay best for investing for senior citizen ?

Is Jeevan Akshay better than bank FD?

Is Jeevan Akshay VI better than buying property for investment?

How to surrender Jeevan Akshay VI?

Buy LIC Jeevan Akshay VI in Greater Noida.

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Buy LIC Jeevan Akshay VI in Greater Noida
Posted by:V.K. sharma, July - 23 - 2018

Buy LIC Jeevan Akshay VI in Greater Noida

Living in peaceful and beautiful area of Greater Noida and planning to enjoy life without worries then you are at the right place. LIC of India’s Jeevan Akshay VI adds more peace and happiness to your life by providing fixed rate of interest through out your life, by investing just once in guaranteed return plan, which is better than FD, provides instant income, without worries of share market for you and for your spouse then there is no better option then to buy LIC Jeevan Akshay VI in Greater Noida.

 

Buy LIC Jeevan Akshay VI in Greater Noida
Buy LIC Jeevan Akshay VI in Greater Noida

Who Can buy Jeevan Akshay VI in Greater Noida?

Entry Age to buy Jeevan Akshay VI in Greater Noida
  • Minimum: 30 years.
  • Maximum: 85 years.

 

BUY LIC JEEVAN AKSHAY VI IN GREATER NOIDA
BUY LIC JEEVAN AKSHAY VI IN GREATER NOIDA

Buy LIC Jeevan Akshay VI in Greater Noida under below mention details

Premium paying mode One time lump sum premium is to be paid that it is a Single Premium Policy
Minimum purchase price  Rs.1,00,000 that is the prospect have to pay Minimum Rs 1 lakh and there is no upper limit.
Minimum purchase price No Limit
Benefits Option A: Annuity (Interest) payable for life at fixed and guaranteed rate
Option B: Annuity payable for 5, 10, 15 or 20 years certain and thereafter as long as the annuitant is alive
Option F: Annuity for life with return of purchase price on death of the annuitant
Option G: Annuity payable for life, with an additional increase of 3% per annum (simple rate)
Option H: Annuity for life, with a provision to ensure that 50% of the annuity will be paid to the spouse of the policyholder during his / her lifetime, on the death of the annuitant.
Option I: Annuity for life, with a provision to ensure that 100% of the annuity will be paid to the spouse of the policyholder during his / her lifetime, on the death of the annuitant.
Option J: Annuity for life, with a provision to ensure that 100% of the annuity will be paid to the spouse of the policyholder during his / her lifetime, on the death of the annuitant. With the purchase price being returned in the event of the death of the last survivor.
Mode Of Pension Or Annuity Or Interest Monthly. Quarterly. Half Yearly. Yearly
High purchase price incentives the purchase price is at least Rs.2,50,00o (or more), a higher amount of annuity will be payable to the annuitant because of incentives.
Tax Taxes will be payable as per prevailing taxation laws.

Features and Benefits:

  • Regular payout of annuity.
  • Flexibility to choose annuity payout from 7 options.
  • Benefits extend to the surviving named spouse / nominee after the death of the annuitant.
  • Excellent retirement solution.
  • Incentives for high purchase price.
  • No medical examinations of any kind are required before taking on this plan.

Buy LIC Jeevan Akshay VI in Greater Noida
Buy LIC Jeevan Akshay VI in Greater Noida

How does this policy work?

Mr. Arjun, a 50 year old working professional buy LIC Jeevan Akshay VI in Greater Noida policy with a purchase annuity of Rs.10,00,000. Given below are the annuity options and rates for three of the plan options.

Period Annually Half-Yearly Quarterly Monthly
Option A Rs 79050 Rs 38625 Rs 19113 Rs 6333
Option F Rs 66750 Rs 32575 Rs 16113 Rs 5333
Option J Rs 66250 Rs 32375 Rs 16038 Rs 5317

Death Benefit:

Unlike other LIC plans, you don’t get any death benefit under this plan. Because once you pay the premium your money back starts in the form of pension. If you choose to get payments even after your death, your spouse will be benefited out of it. Your spouse gets the remaining pensions after you.

 

The rate of Pension:

The rate depends on the type of annuity chosen by the policyholder or the annuitant. There are 7 active types of plans under annuity product. But once decided and the one time premium paid, you cannot change the plan as it is a one-time payment and the benefits starts immediately.

 

Maturity Benefit:

Unlike other LIC plans, you don’t get any maturity benefit under this plan. Because once you pay the premium your money back starts in the form of pension. If you choose to get payments even after your death, your spouse will be benefited out of it. Your spouse gets the remaining pensions after you.

 

Rider Benefit

There is no riders benefit available under this plan, as it is a pure pension based annuity plan.

 

Difference between Jeevan Akshay I, Jeevan Akshay  II, Jeevan Akshay  III, Jeevan Akshay  IV, Jeevan Akshay V and Jeevan Akshay VI.

 

 

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Is Jeevan Akshay best for investing for senior citizen ?

Is Jeevan Akshay better than bank FD?

Is Jeevan Akshay VI better than buying property for investment?

How to surrender Jeevan Akshay VI?

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