Saturday, February 23, 2019

Life Insurance Plan-make life secured

LIC life insurance plan

LIC life insurance plan-Being educated, first moral duty of one is to be aware of plans one can reap benefits for his loved ones. Death is inevitable, so is difficulties like diableties, critical illness. But LIC has designed various variety of plans for Life, critical illness and term plans according to ones ease.

LIC life insurance plan

Term plan- Term protection arrangement is the base required to give budgetary security to your loved ones if there should arise an occurrence of your sudden death. In basic words, it's the least expensive type of protection which gives passing advantages to the group of the safeguarded individual for a characterized timeframe. It is essential for everybody, particularly for the bread worker of the family. Since, it will go about as a genuine help for your family, if something transpires. Furthermore, the singular amount sum you will get as death advantage brings money related dependability and satisfies the liabilities. To comprehend these term designs, we have to investigate them by going top to bottom. Henceforth, here are the few term plan benefits that you should know:


1. Flexibility - In the event of term approaches, on the off chance that you quit paying premium, the hazard spread arrives at an end and along these lines, the arrangement closes. This implies there is nothing payable to you as there is no reserve funds component in the approach. Along these lines, on the off chance that you quit paying premiums in the mid-term, there is a monetary misfortune as you can't recuperate your reserve funds bit of the approach without specific findings.

2. Simplicity-Term protection designs are that protection designs which are straightforward, for example, blessing designs which mixes up the funds with the inclusion of the hazard. The designs which incorporates the inclusion of hazard are known as money esteem strategies. In straightforward words, term plan is characterized as pay the ideal measure of premium and get yourself secured under the term approach.

3.Tax benefits-It has been said that in the event that you purchase an enrichment sort of protection, as the premium is more, you can get more preferences under the area 80C of salary charge act. What's more, when the development guarantee is paid, it additionally yields tax-exempt pay. Furthermore, the distinction in premium between term protection and gift protection can likewise be put resources into other expense plans, for example, ELSS, PPF.

4. Low premium-The premium for term plan is lower than that for money esteem approaches.

5. Competitive rates-Based on value, term life designs can be effectively contrasted and each other as they are fundamentally comparable and straightforward.

(LIC life insurance plan) LIC’s Anmol Jeevan - II-Term Plan 822- is a protection plan which provides financial protection to the insured’s family in case of his/her unfortunate demise.
Benefits:
Death Benefit: In case of unfortunate death of the Life Assured during the policy term Sum Assured shall be payable.
Maturity Benefit: On survival to the end of the policy term, nothing shall be payable.

Term Plan Number: 822
Plan name:Anmol Jeevan - II
Minimum age at entry – 18 years (completed)
Maximum age at entry – 55 years (nearest birthday)
Minimum Sum Assured – 6 Lakh
Maximum Sum Assured - 24 Lakh (The Sum Assured shall be in multiples of 1 Lakh)
Maximum cover ceasing age – 65 years (nearest birthday)
Minimum policy term - 5 years
Maximum policy term – 25 years
Maximum Sum Assured: No Limit (Multiple of Rs. 5000)
Mode of Premium payment: Yly, Hly
Gender Allowed: Both
Death Benefit – Sum Assured shall be payable
Maturity / Survival Benefit - No benefits on maturity
Loan – NO Loan will be granted
Surrender Value- No surrender value
Paid up value – No paid up value
Age Entry : 18-55 yrs


Money Back Policy-Shiromani 847 (LIC life insurance plan)

Max Maturity Age : 69 yrs
Term/PPT :
14/10
16/12
18/14
20/16

Sum Assured :
1,00,00,000-No limit

Sum Assured multiples : 5,00,000

Mode of payment  : All

Service Tax:
1st year : 4.5%
Subsequent year : 2.25%

Loan : After 1 yr

Surrender : After 1 yr

On Death :

Before 5 yrs
SA+Guaranteed Addition(Rs.50)

After 5 yrs
SA+Guaranteed Addition(Rs.55)+Loyality Addition

Sum Assured on death is 125% of Basic Sum Assured or 10 times of Annualized Premium or 105% of total premiums paid whichever is higher

Returns:

For Term 14:
10th,12th yr  : 30% of SA
Maturiry  :  40% of SA+Guaranteed Addition+Loyality Addition

For Term 16:
12th,14th yr  : 35% of SA
Maturiry  :  30% of SA+Guaranteed Addition+Loyality Addition

For Term 18:
14th,16th yr  : 40% of SA
Maturiry  :  20% of SA+Guaranteed Addition+Loyality Addition

For Term 20:
16th,18th yr  : 45% of SA
Maturiry  :  10% of SA+Guaranteed Addition+Loyality Addition

I personally find it the best plan so far, as one is secured
'LIFE MEIN BHI , LIFE KE BAAD BHI'

(LIC life insurance plan)-This plan also takes care of liquidity needs through loan facility. 1. Benefits payable under an inforce policy (where all due premiums have been paid): a) Death Benefit: On death during first five years: Death Benefit defined as sum of “Sum Assured on Death” and accrued Guaranteed Addition shall be payable. On death after completion of five policy years but before the date of maturity: Death Benefit defined as sum of “Sum Assured on Death” and accrued Guaranteed Addition and Loyalty Addition, if any, shall be payable. Where “Sum Assured on Death” is defined as the highest of  10 times of annualised premium; or  Sum Assured on Maturity as defined in 1. c) below; or  Absolute amount assured to be paid on death, i.e. 125% of Basic Sum Assured. This death benefit shall not be less than 105% of all the premiums paid as on date of death. Premiums referred above shall not include any taxes, extra amount chargeable under the policy due to underwriting decision and rider premium(s), if any. b) Survival Benefit: On the life assured surviving to each of the specified durations during the policy term, provided all due premiums have been paid, a fixed percentage of Basic Sum Assured shall be payable. The fixed percentage for various policy terms is as below: For policy term 14 years: 30% of Basic Sum Assured on each of 10th and 12th policy anniversary. For policy term 16 years: 35% of Basic Sum Assured on each of 12th and 14th policy anniversary. For policy term 18 years: 40% of Basic Sum Assured on each of 14th and 16th policy anniversary. For policy term 20 years: 45% of Basic Sum Assured on each of 16th and 18th policy anniversary.

c) Maturity Benefit: On the life assured surviving to the end of the policy term, provided all due premiums have been paid, “Sum Assured on Maturity” along with accrued Guaranteed Additions and Loyalty Addition, if any, shall be payable. Where “Sum Assured on Maturity” is as under: 40% of Basic Sum Assured for policy term 14 years 30% of Basic Sum Assured for policy term 16 years 20% of Basic Sum assured for policy term 18 years 10% of Basic Sum assured for policy term 20 years.

d) Inbuilt Critical Illness Benefit: 

e) 15 Critical Illness conditions covered under this benefit of LIC life insurance plan

More of Life Insurance will be continued:-

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https://www.kritigyaenterprises.com/2019/01/28/lic-life-insurance-plan-in-delhi-ncr-north-india/

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