Table No. 833 : LIC JEEVAN LAKSHYA
Posted by:V.K. sharma, March - 07 - 2015

LIC JEEVAN LAKSHYA

(Table No.833)

LIC’s Best Plan Ever for Child & Family

LIC Jeevan Lakshya is a limited premium paying, conventional With-Profits, Endowment Assurance plan. This plan provides for Annual Income benefit that may help to fulfill the needs of the family. Primarily the annual income benefit is for the education of the children, in case of unfortunate death of Policyholder any time before maturity, a lump sum amount at the time of maturity will be given to the nominee (Child) independent of survival of the Policyholder.

LIC Jeevan Lakshya
LIC Jeevan Lakshya

Benefits:
The benefits payable under an inforce policy are as under:

1. ) Maturity Benefit: On survival to the end of the policy term provided all due premiums have been paid, “Sum Assured on Maturity” along with vested Simple Reversionary bonuses and Final Additional bonus, shall be payable. Where Sum Assured on Maturity is equal to Basic Sum Assured.

2.) In case of death of the life assured in LIC’s Jeevan Lakshya, future premium will be waived, an annual income benefit equal to 10% of the sum assured (Also called educational benefit for the child) & maturity equal to 110% of point 1 above will also be given.

ELIGIBILITY CONDITIONS AND RESTRICTIONS for LIC’s Jeevan Lakshya:

For Basic Plan:

1)    Minimum Age at entry for Life Assured  : 18 years (last birthday)

2)    Maximum Age at entry for Life Assured : 50 years (nearer birthday)

3)    Maximum Maturity Age                          : 65 years (nearer birthday)

4)    Policy Term                                             : 13 to 25 years

5)    Premium paying Term                             : (Policy Term – 3) years

6)    Minimum Basic Sum Assured                : Rs. 1,00,000/-

7)    Maximum Basic Sum Assured               : No Limit

MODE OF PREMIUM PAYMENT in LIC’s Jeevan Lakshya: The modes of premium payment allowable are Yearly, Half Yearly, Quarterly, and Monthly (ECS only or through salary deductions)

LIC Jeevan Lakshya

 

REBATES:

The rebates for basic plan are as under:

Mode Rebate:

Yearly mode                                 : 2% of tabular premium

Half-yearly mode                         : 1% of tabular premium

Quarterly and monthly mode        : NIL

High Basic Sum Assured Rebate:

Basic Sum Assured                            Rebate (in Rs.)

1,00,000 to 1,90,000               –           Nil

2,00,000 to 4,90,000               –           2%o Basic Sum Assured

5,00,000 to and above            –           3%o Basic Sum Assured

LOAN:

Loan facility is available under this plan, after payment of premiums for at least 3 full years subject to following conditions:

a)    The maximum loan that can be granted as a percentage of surrender value are as under:

For inforce policies – 90%

For paid-up policies – 80%

However, the above percentages may vary from time to time.

LIC Jeevan Lakshya

GRACE PERIOD FOR PAYMENT OF PREMIUM: A grace period of one calendar month but not less than 30 days will be allowed for payment of yearly or half-yearly or quarterly premiums and 15 days for monthly mode of premium payment.

 

LIC Jeevan Lakshya
LIC Jeevan Lakshya

 

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Table No. 832 : New Children Money Back Plan
Posted by:V.K. sharma, March - 04 - 2015

LIC’s NEW CHILDREN MONEY BACK PLAN

(Plan No.832)

 

LIC’s New Children Money Back Plan is a non-linked, with-profits, regular premium
payment money back plan. It provides for the risk cover on the life of child (that is child will be the life assured in this plan). During the policy term, the of survival benefits equal to 20% of sum assured will be payable on surviving to the end of the specified duration.

New Children Money back Plan
New Children Money back Plan

Benefits:
The benefits payable under an inforce policy are as under:

1. ) Maturity Benefit: On the Life assured surviving the stipulated date of maturity, Sum
Assured on Maturity (which is 40% of the Basic Sum Assured) along with vested Simple
Reversionary Bonuses and Final Additional Bonus.

2. ) Survival Benefit : On the Life Assured surviving on each policy anniversary coinciding with or immediately following the completion of ages 18 years, 20 years and 22 years of Life Assured, 20% of the Basic Sum Assured on each occasion shall be payable provided the policy is in full force.

New Children Money back Plan

3.) LIC’s Premium Waiver Benefit Rider : LIC’s Premium Waiver Benefit Rider is available on payment of additional premium.

4.) Death Benefit: On death Before the Date of Commencement of Risk: An amount equal to the total amount of premium/s paid excluding taxes, extra premium and rider premium, if any shall be payable.

On death After the Date of Commencement of Risk: Death Benefit, defined as sum of “Sum Assured on Death” and vested Simple Reversionary Bonuses and Final Additional Bonus.

New Children Money back Plan

Mode of Premium Payment : The modes of premium payment allowable are Yearly, Half Yearly, Quarterly, and Monthly [ECS only or through salary deductions (SSS)].

Loan: Loan facility is available under New Children Money back plan after the payment of premiums for at least three full years . After obtaining the declaration from the proposer to the effect that loan is raised for the benefit of the minor life assured.

Rebates:

Mode Rebate:
Yearly mode : 2% of tabular premium
Half-yearly mode : 1% of tabular premium
Quarterly and monthly : NIL
High Sum Assured Rebate:

Basic Sum Assured Rebate (Rs.)
1,00,000 to 1,90,000            Nil
2,00,000 to 4,90,000           Rs 2 per thousand Basic Sum Assured
5,00,000 and above            Rs 3 per thousand Basic Sum Assured

New Children Money back Plan

 Eligibility Conditions and Restrictions:

Basic Sum Assured Rebate (Rs.)
Minimum Age at entry for Life Assured (LBD)            0 years
Maximum Age at entry for Life Assured (LBD)           12 Years

Policy Term                                                                       (25-Age Entry) Yrs

maturity Age                                                                      25 Years

Minimum Sum Assured                                                   Rs 1 Lac

New Children Money back Plan
New Children Money back Plan
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How to join LIC as Agent in Delhi & Gurgaon ?
Posted by:V.K. sharma, December - 16 - 2014

                 

Call 99100-39879 Now to Join LIC as an Advisor in Delhi NCR

LIC  एजेंट बनने का तरीका एवं  फायदे

http://lichelpline.com/blog/2014/06/03/how-to-be-an-lic-agent/

यह एक नौकरी नहीं है बल्कि एक बिज़नेस है , यह आप पार्ट टाइम या फुल टाइम में भी कर सकते हैं आप इसे अपनी चालू नौकरी के साथ भी कर सकते हैं , इसमें समय की कोई पाबन्दी नहीं होती ,आप इसमें किसी भी नौकरी या बिज़नेस से ज्यादा पैसा कमा सकते हैं

Call 99100-39879 Now to Join LIC as an Advisor in Delhi NCR

                  http://lichelpline.com/blog/tag/be-an-lic-agent-in-gurgaon/

इसकी सबसे अच्छी बात है अगर आप कम से कम बारवीं पास है तो आप इस काम को कर सकते हैं.  कमा सकते है लाखों या करोडो जो कोई बड़ा बिज़नेस मैन या ऊचें ओहदे पर बैठा आदमी कमाता है

                 http://lichelpline.com/blog/tag/be-an-lic-agent-in-gurgaon/

          Call 99100-39879 Now to Join LIC as an Advisor in Delhi NCR

http://lichelpline.com/blog/2014/06/03/how-to-be-an-lic-agent/

                                                 दिल्ली एवं गुडगाँव में एजेंट बनने के लिए संपर्क करें

                                                     श्री विनय कुमार शर्मा

                                                      विकास अधिकारी

                                                       शाखा 11A एवं  122

                                                      99100-39879, 9716-836-836

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LIC’s LIMITED PREMIUM ENDOWMENT PLAN (Plan No. 830)
Posted by:V.K. sharma, December - 06 - 2014

This is a limited premium paying conventional With-Profits Endowment Assurance plan. The benefits and other details of the plan are given below.

BENEFITS:

The benefits payable under an inforce policy are as under:

a)    Benefits payable on death:

On death of the Life Assured during the policy term, the Death Benefit, defined as sum of  “Sum Assured on Death” and vested Simple Reversionary Bonuses and Final Additional bonus, if any, shall be payable.

Where “Sum Assured on Death” is defined as the higher of 10 times of annualized premium or Absolute amount assured to be paid on death i.e. 125% of the Basic Sum Assured.

This death benefit shall not be less than 105% of all the premiums paid as on date of death.

Call for expert advice
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b)    Benefits payable on maturity:

On survival to the end of the policy term, “Sum Assured on Maturity” along with vested simple reversionary bonuses and Final Additional bonus, if any, shall be payable. Where Sum Assured on Maturity is equal to Basic Sum Assured.

c)  Participation in Profits:

Depending upon the Corporation’s experience the policies shall participate in the profits and shall be eligible for simple reversionary bonus at such rate and on such terms as may be declared by the Corporation.

Final Additional Bonus may also be declared under the policy which will be payable on the expiry of the policy term or on earlier death, provided the policy has run for certain minimum term.

ELIGIBILITY CONDITIONS AND RESTRICTIONS:

For Basic Plan:

1)    Minimum Age at entry for Life Assured  : 18 years (completed)

2)    Maximum Age at entry for Life Assured :

Maximum Age at entry

   Term           (in Years)   PPT = 8 years PPT = 9 years

12

57

62

16

59

59

21

54

54

3)    Policy Term                                   : [12,16 and 21] years

4)    Premium paying Term                   : [8 and 9] years

5)    Minimum Basic Sum Assured       : Rs. 3,00,000/-

6)    Maximum Basic Sum Assured      : No Limit

The Basic Sum Assured shall be in multiples of Rs. 10000/- only.

 

Age at entry for the Policyholder is to be taken as age nearest birthday except for the minimum age at entry i.e. 18 years

 MODE OF PREMIUM PAYMENT:

The modes of premium payment allowable are Yearly, Half Yearly, Quarterly, and Monthly (ECS only or through salary deductions).

REBATES:

The rebates for basic plan are as under:

 Mode Rebate:

Mode                                             Percentage

Yearly mode                                 : 2% of tabular premium

Half-yearly mode                         : 1% of tabular premium

Quarterly and monthly mode        : NIL

 

High Basic Sum Assured Rebate:

Basic Sum Assured (B.S.A)         Rebate per Rs.1000 B.S.A

3,00,000 to 4,90,000                     : Nil

5,00,000 to 9,90,000                     : 0.50 ‰  B.S.A

10,00,000 and above                    : 0.75 ‰  B.S.A

 Click here to download the Ready reckoner of Table no. 830

” ” ” Ready Reckoner 830″ ” “

 

” ” ” Presentation for Table No. 830 ” ” “

 

 

 

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Varistha Pension Bima Yojna : Jeevan Rakshak: Table No. 827
Posted by:V.K. sharma, August - 12 - 2014
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How to be an LIC AGENT ?
Posted by:V.K. sharma, June - 03 - 2014

LIC OF INDIA is the biggest and govt. life insurance organization in India. Already more than 14,00,000 people are associated with LIC as LIC AGENTS. Many are earning in SIX FIGURES by just giving 2-3 hours a day.

To know more click here

Benefits of becoming LIC AGENT
1. Handsome Commission
2. Renewal & Hereditary Regular Income
3. Gratuity
4. Computer advance

To know more click here

5. Festival Advance
6. Foreign Trips
7. Regular Awards / Competitions
8. Office maintenance Allowance

To know more click here

9. Car Advance
10. E-support
11. Best Software for plan presentation
and much more

To know more click here

Contact : Mr. Vinay Kumar Sharma,
Development Officer, LIC OF INDIA,
Ph: 99100-39879, 9716-836-836

 

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Table no. 823 : Amulya Jeevan 2 : LIC’s Amulya Jeevan -2
Posted by:V.K. sharma, February - 03 - 2014

 

Table no. 823

Amulya Jeevan -2

Amulya Jeevan is a regular premium paying conventional WITHOUT profit pure protection plan

 

Eligibility Conditions And Restrictions:

1) Minimum Age at entry for Life Assured    : 18 years (completed)

2) Maximum Age at entry for Life Assured    : 60 years (nearest birthday)

3) Minimum Policy Term                                : 5 years

4) Maximum Policy Term                               : 35 years

5) Premium payment mode                           : Yearly, Half-yearly

6) Minimum Sum Assured                             : Rs 25,00,000/-

7) Maximum Sum Assured                            : No Limit

 

The Sum Assured shall be in multiple of Rs 1,00,000/-

 

Benefits:

Maturity Benefit – On Survival to the end of the policy term, no benefits shall be payable.

Death Benefit – On death of Life Assured during the term of the policy, Sum Assured will be payable.

 

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Grace Period:

Grace period of one calendar month but not less than 30 days will be allowed.

 

Additional Premium :

2% of the tabular annual premium will be payable for HALF YEARLY mode.

 

Higher Sum Assured: No Higher Sum assured rebate

 

Paid Up Value:  NIL

 

Surrender Value : NIL

 

Loan : Not allowed

 

Back Dating Interest:

Back dating allowed but no interest will be charged for back dating.

 

Assignment and Nomination is allowed as per normal rules.

Suggested and Must reading while studying Term Plans from LIC like Table no. 822 and 823.

Why Term Plan from LIC?

Why LIC?

LIC : A place in everyone life

LIC hai to kahin aur kyon jana.

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Table No. 822 : Anmol Jeevan-2 : Anmol Jeevan-2
Posted by:V.K. sharma, February - 02 - 2014

Table no. 822

Anmol Jeevan -1

Anmol Jeevan is a regular premium paying conventional WITHOUT profit pure protection plan

Eligibility Conditions And Restrictions:

1) Minimum Age at entry for Life Assured    : 18 years (completed)

2) Maximum Age at entry for Life Assured   : 55 years (nearest birthday)

3) Minimum Policy Term                               : 5 years

4) Maximum Policy Term                              : 25 years

5) Premium payment mode                            : Yearly, Half-yearly

6) Minimum Sum Assured                             : Rs 6,00,000/-

7) Maximum Sum Assured                            : Rs 24,00,000/-

 

The Sum Assured shall be in multiple of Rs 1,00,000/-

buy LIC plans before 30th Sept

 

Benefits:

Maturity Benefit – On Survival to the end of the policy term, no benefits shall be payable.

Death Benefit – On death of Life Assured during the term of the policy, Sum Assured will be payable.

 

Grace Period:

Grace period of one calendar month but not less than 30 days will be allowed.

          Why Term Plan from LIC?

Why LIC?

LIC : A place in everyone life

 

Additional Premium :

2% of the tabular annual premium will be payable for HALF YEARLY mode.

 

Higher Sum Assured:

No Higher Sum assured rebate

 

Paid Up Value:  NIL

 

Surrender Value : NIL

 

Loan : Not allowed

 

Back Dating Interest:

Back dating allowed but no interest will be charged for back dating.

 

Assignment and Nomination is allowed as per normal rules.

 

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Table no. 818

LIC’s New Jeevan Nidhi Plan

A Compulsory Pension Plan from LIC

LIC’s New Jeevan Nidhi Plan is introduced with effect of 27th Jan 2014. This is  conventional with profit Pension Plan from LIC.

Eligibility conditions and restrictions:

1)  Minimum Age at entry for Life Assured   : 20 years (nearest Birth day)

2) Maximum Age at entry for Life Assured   : 58 years (nearest Bday) in Regular Premium

: 60 years (nearest Bday) in Single Premium

3) Minimum Deferment Period                     : 5 years under Single Premium

:7 years under Regular Premium

4) Maximum Deferment Period                    : 35 years

5) Minimum age at Maturity                          : 55 years (Nearest Birthday)

6) Maximum age at Maturity                         : 65 years (Nearest Birthday)

7) Premium payment mode                         : Yearly, Half-yearly, Quarterly, Monthly (SSS or

ECS ) Or Single Premium

8) Minimum Sum Assured                           : Rs 1,00,000/- for regular Premium

: Rs 1,50,000/- for Single Premium

9) Maximum Sum Assured                          : No Limit

The Sum Assured shall be in multiple of Rs 5000/-

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Benefits:

Benefit on Vesting:  – Provided this policy is in full in force, on vesting, an amount equal to Basic Sum Assured along with accrued Guaranteed Additions, vested Simple Reversionary Bonuses and Final Additional Bonus if any shall be made available to the life assured. The benefits available on vesting shall  be payable as per details given below:

a) Option available to the Life Assured for utilization of benefit amount:

The following options will be available to the life assured for the utilization of benefit amount on vesting/surrender

1) To Purchase in immediate annuity

The life assured will have a choice to commute the amount available on vesting/surrender to the extent allowed under Income tax act. The entire amount available on vesting/surrender or the balance amount after commutation as the case may be, shall be utilized to purchase immediate annuity at then prevailing annuity rates. Commutation will only be allowed provided that the balance is sufficient to purchase the minimum amount of annuity as per the provisions of sections of insurance Act. 1938.

In case the said is insufficient to purchase the minimum amount of annuity then the said amount shall be paid as a lump sum to the life assured.

The annuity shall only be purchased from Life Insurance Corporation of India.

2) To purchase a new Single premium deferred pension product from Life Insurance Corporation of India.

Under this option the entire proceeds available on vesting/ surrender shall be utilized to purchase a new single premium deferred pension product provided the policyholder satisfied the eligibility criteria for purchasing a single premium deferred pension product.

b) Death Benefit:

Death during the first five policy years: Provided the full policy in force, basic sum assured along with accrued guaranteed addition bonus shall be paid as lump sum or in the form of annuity or partly in lump sum and balance in the form of annuity to the nominee/legal heir at then the prevailing immediate annuity rates.

Death during the first five policy years:

 

 

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Comparison between Table no. 814 and Table no. 14 of LIC
Posted by:V.K. sharma, January - 05 - 2014

Comparison between Table no. 814 to Table no. 14

Endowment Assurance Plan (Table No. 14) New Endowment Plan (Table No.814)
Maturity Benefit Basic Sum Assured along with Vested Simple Reversionary Bonuses and Final Additional Bonus, if Any. No Change
Death Benefit Sum Assured (SA) along with Vested Simple Reversionary Bonuses and Final Additional Bonus, if any. ‘Sum Assured on Death’ along with Vested Simple Reversionary Bonuses and Final Additional Bonus, if any.
The death benefit as defined above shall not be less than 105% of total premiums* paid as on the date of death.
Age at entry 12 to 65 years 8 to 55 years
Age at Maturity Maximum  75 years Maximum  75 years
Policy Term 5 to 55 years 12 to 35 years
Premium mode Yearly, Half-yearly, Quarterly, Monthly (SSS or ECS) Yearly, Half-yearly, Quarterly, Monthly (SSS or ECS)
Basic Sum Assured 50,000 and above 1,00,000 and above ( In multiples of 5000)
Rebate
  • 3% of tabular Premium for Yearly premium
  • 1.5% of tabular premium for Half-Yearly premium
  • 2% of tabular premium for Yearly premium
  • 1% of tabular premium for Half-Yearly premium
Loan
  • Available after payment of 3 full year’s premiums.
  • Loan granted shall be 90% of the Surrender Value in case of in force policies and 85% of the Surrender Value in case of Paid-up policies.
  • Foreclosure action shall be initiated on default of 2 or more half-yearly loan interest installments.
  • Available after payment of 3 full years premiums
  • The maximum amount of loan that can be granted as a percentage of Surrender Value shall  depend on the Policy Term,
  • Foreclosure action shall not be taken under fully paid-up and in force policies even if there is default of loan interest.
Guaranteed Surrender Value (GSV)
  • Available after payment of 3 full years premiums
  • GSV shall be equal to 30% of the total premiums paid less First Year Premium and extra premium, if any.
  • Available after payment of 3 full year’s premiums.
  • GSV shall be a percentage of total premiums paid (net of taxes) excluding extra premium, if any and premium paid for riders, if opted for. Examples of GSV factors applicable for total  premiums paid
    Policy Year ~ GSV factor
             3   =   30%
             5   =   50%
           t -1  =   80% (t=Policy Term)
Main Changes
  • A  Policy may be revived within a period of 5 years from the date of first unpaid premium.
  • Taxes, if any, were borne by the Corporation.
  • A  Policy may be revived within a period of 2 years from the date of first unpaid premium.
  • Taxes, if any, shall be applicable at the prevailing rates and borne by the policyholder as per rules.
NO Changes in
  • Back Dating
  • Paid-up Value
  • Grace Period
  • Assignment/Nomination
  • Back Dating
  • Paid-up Value
  • Grace Period
  • Assignment/Nomination
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