Bima Bachat

Bima Bachat Summary:

LIC Bima Bachat (Table No.175) is a single premium money-back policy. Bima Bachat offers financial security and assurance to the policy holder and his family.

Benefits:

Death Benefits:

During the Term of the policy if the Life Assured is dead, apart from survival benefits if any, paid earlier, an amount equal to SA will be paid.

Survival benefits:

Survival benefits (15% of SA) are paid at 3rd, 6th, 9th & 12th policy year respectively depending on the policy term. On maturity the single premium paid alongwith Loyalty addition if any will be paid back.

Maturity Benefit/Survival benefit for 2 lakh SA: (30yrs age)

Policy Term	3rd Year	6th Year	9th Year	12th year
9 years	60,000	60,000	Final Maturity	-
12 years	60,000	60,000	60,000	Final Maturity
15 years	60,000	60,000	60,000	60,000

Eligibility Conditions and Restrictions LIC Bima Bachat:

Min. age at entry: 15 years (completed).
Max. age at entry: 66 years (Nearest).
Min. S.A.: Rs. 20,000
Max. SA.: Any Amount.
SA in multiples: Rs. 5000
Max. Maturity age: 75 years (Nearest).
Terms Available: 9, 12 or 15 years.
Modes Allowed: All
Dating Back @ 8%: Allowed
Term Rider Option: Not available
Critical Illness Rider: Not available
Policy Loan: Available

Surrender Values:
The Bima Bachat can be surrendered after 1 year. The Guaranteed Surrender Value  is equal to 90% of the single premium paid excluding extra premium paid and the survival Benefits paid earlier.

Bima Bachat Examples:

Here is an example to understand this policy. 

Mr. Shayam aged 30 years takes a Bima Bachat Policy for 15 years term for Rs 2 lakhs SA. He pays single premium of Rs. 1,48,322. He receives Survival Benefit of rs 30,000 each at the end of 3rd, 6th, 9th & 12th year respectively. On Maturity, he will receive Rs 1,48,322 being the single Premium paid by Dilip. Thus total amount received by him will be Rs 2,68,322 (Rs 1,20,000 as Survival Benefits + 1,48,322 as single Premium paid) + LA if any. If Mr. Shayam dies during the 13th policy year, his nominee will get Rs 2 lakh as SA as death benefit (Survival benefit of Rs 30000 each received during 3rd, 6th, 9th & 12th year will not be deducted from the SA). hence the total amount received would be Rs. 3,20,000.

Cooling off period:

If you are not satisfied with the “Terms and Conditions” of the policy, you may return the policy to Life Insurance Corporation Of India within 15 days.

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LIC Jeevan Mitra

LIC Jeevan Mitra Double/ Tripple Cover Table No 88 & 133.

	Term	Age	Sum Assured
Minimum	15	18	50000
Maximum	30	50	No Limits

Premium Ceasing Age : 70 Premium Ceasing Term : 0
Premium Ceasing Age : 70 Premium Ceasing Term : 0
 

Plan Highlights

Features

LIC’s Jeevan Mitra Tripple Cover Life Insurance Plan Policy benefits of this policy can be considered only for standard and substandard lives Class I and II. It cannot be allowed for people engaged in hazardous occupations. Individuals engaged in dangerous pursuits will be rated against the revised tabular occupational extra rates.

Special Features

This policy covers the risk for triple the sum assured.

Besides the usual benefits offered by any endowment insurance plan, this policy provides for an additional insurance cover two times the sum assured in the event of a policy holder’s death during the term of the policy. In other words, the death claim in the case of this policy is thrice the basic sum assured.

Benefits

Survival Benefits:

Basic Sum assured along with vested bonuses will be payable on the life assured surviving till the end of the term.
Bonus additions will be reckoned on the basic sum assured at rates applicable to endowment assurance and will be payable at the end of the selected term or at death if it occurs earlier. Accident Benefit equivalent to the basic sum assured would also be available as pre existing rules. This would however, be subject to overall limit of Rs.5,00,000 in the aggregate including existing policies and also the payment of appropriate additional premiums in that behalf at the existing rate.
 

Death Benefits:

Three times the basic sum assured together with vested bonuses if any, will be payable on death of the life assured during the term of assurance.
 

Are there any tax benefits?

Under Section 80C you can avail tax benefit, yearly premium (not more than 1lac) will be deducted from taxable income.

Under Section 10(10D) death claim is completely tax free.

 Suitable for:

Being an endowment assurance policy, this plan is apt for people of of all ages and social groups who wish to protect their families from a financial setback that may occur owing to their demise. The amount assured if not paid by reason of his death earlier will payable at the end of the endowment term where it can be invested in an annuity provision for the rest of the policyholder’s life or in any other way he may think most suitable at that time.

Contact for free quotes/ charts/ examples/ reviews/ illustrations on LIC’sJeevan Mitra Tripple/ Double Cover Life Insurance policy.

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Jeevan Anand

एलआईसी की सर्वाधिक चर्चित और सबसे ज्यादा बिकने वाली बीमा पॉलिसियों में से एक है जीवन आनंद। 2002 में अपनी शुरुआत से ही यह बीमा पॉलिसी चर्चा में रही है और संतुष्ट ग्राहकों के मानकों को देखा जाए, तो यह पॉलिसी पूरी तरह कामयाब रही है। यह पॉलिसी जीवन के साथ भी, जीवन के बाद भी के अपने वायदे को पूरी तरह निभाती है।

क्यों है जीवन आनंद सबसे अलग : यह पॉलिसी धारक को संपूर्ण जीवन की सुरक्षा देने वाली पॉलिसी है। यानी पॉलिसी का पूरा प्रीमियम देने के बाद 70 वर्ष तक बिना कोई अतिरिक्त प्रीमियम देकर रिस्क कवर का लाभ मिलता है। इस उदाहरण से देखें। राज की उम्र 30 साल है। राज ने जीवन आनंद पॉलिसी 10,00,000 (दस लाख) रुपए की ली और 20 साल प्रीमियम देने का फैसला किया। राज की मृत्यु दुर्घटना (प्रीमियम भुगतान अवधि यानी 20 सालों के भीतर) में होती है, तो 10 लाख रुपए + दुर्घटना हितलाभ + मृत्यु के दिन तक का बोनस मिलता है। राज पूरे 20 साल जीवित रहते हैं, तो पॉलिसी  के 20 साल पूरे होने के बाद (50 की उम्र में) मैच्योरिटी पर 10 लाख रुपए + बोनस + अतरिक्त अंतरिम बोनस मिलता है। साथ ही पॉलिसी के 20 साल पूरे होने और सभी लाभ ले लेने के बाद मान लें कि राज का देहांद 60 की उम्र में हुआ, तो ऐसी स्थिति में 10 लाख + दुर्घटना हितलाभ 5 लाख रुपए नॉमिनी को मिलेंगे।

इस पॉलिसी को कौन ले सकता है : -

प्रवेश की उम्र : 18 वर्ष (पूर्ण )

अधिकतम उम्र   : 65 वर्ष 

न्यूनतम अवधि : 5 वर्ष

न्यूनतम बीमाधन : 1,00,000

अधिकतम बीमाधन : कोई सीमा नहीं

प्रीमियम पेड विकल्प :  वार्षिक/अर्धवार्षिक/त्रैमासिक/ईसीएस

पॉलिसी पर लोन सुविधा : 9 प्रतिशत दर

पॉलिसी पर होम लोन : हां

* इस पॉलिसी में बीमाधन बंदोबस्ती अवधि के पूरा होने पर बोनस सहित मिलता है। इसके बाद भी बीमा संरक्षण चालू रहता है और मृत्यु होने पर फिर से देय हो जाता है। मृत्यु बंदोबस्ती अवधि के बीच में हो जाए, तो बीमाधन उस समय तक के बोनस के साथ मिलता है।

* दुर्घटना हितलाभ प्रीमियम भुगतान की अवधि एवं उसके बाद 70 साल की उम्र तक मिलता है। 

* प्रीमियम देय अवधि के बाद मृत्यु होने पर यदि पॉलिसी पेडअप की स्थिति में है, तो पेडअप मूल्य या फिर बीमित धन नॉमिनी को मिलेगा।  पॉलिसी होल्डर अपनी इच्छा से पॉलिसी को प्रीमियम देय अवधि के बाद सरेंडर करा सकते हैं।

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Jeevan Ankur

Jeevan Ankur is a new life insurance plan for children launched on 23^rd Jan 2012 by LIC of India. In order to take this plan, the child’s age should not be more than 17 years and the life Assured’s age should be in-between 18 years to 50 years. The minimum sum assured for this plan is Rs. 1 lakhs while there is no any upper limit.

Features of Jeevan Ankur

• In this plan, the risk cover will be on the life of parent and child shall be the nominee of the policy.
• On premature death of life assured – (a)  Sum Assured is immediately paid. (b) 10% of Sum Assured is paid every year till the maturity of policy. (c) Maturity benefit at the end of the policy term.
• The term of the policy will be based on the age of the child at maturity time.
• Single premium as well as regular premium is available under Jeevan Ankur plan

Benefits of Jeevan Ankur

Death Benefits

• In the case of unfortunate death of Life Assured, i.e. parent, during the term of policy: Sum Assured is paid immediately to the nominee, i.e. child, and an income benefit equal to 10% of Sum Assured paid every year till the maturity of policy.
• In the case of unfortunate death of child while the Life Assured is alive: The policy holder can opt another child or a person as the new nominee. The policy will continue with the same benefit payable to the new nominee.
• In the case of unfortunate death of child after the death of Life Assured: The policy shall continue and the benefits shall be payable to the legal heir(s).

Maturity Benefits

At the end of the policy term Basic Sum Assured + the Loyalty Additions is payable as Maturity Benefit irrespective of whether the Life Insured is alive or not.

Other Optional Benefits of Jeevan Ankur

The Jeevan Ankur LIC plan provide 2 rider benefits. In order to obtain these benefits, the policy holder have to pay additional premium. The 2 rider benefits are:

1. Accidental Benefit rider
2. Critical Illness rider

Why you should buy Jeevan Ankur?

If you are looking for a children’s life insurance plan with strong risk coverage Jeevan Ankur is a good choice. It offers a strong risk coverage to protect a child from the financial crisis arises after the premature death of parent of the child.

Jeevan Ankur is lacking behind the other child plans when we compare the feature of survival benefits. On maturity, it just provides loyalty addition, which is not certain, along with sum assured.

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Jeevan Ankur

`Jeevan Ankur' is the most suitable insurance plan for parents who have children up to the age of 17 years.

The plan covers the risk on the life of the parent and the named child shall be the nominee under the sceme, he said.

It has three riders - accident benefit, critical illness and premium waiver option under critical illness.

In the event of unfortunate death of the parent during the policy term, the basic sum assured is payable immediately.

In addition, an income benefit equal to 10 per cent of the basic sum assured is payable to the nominee child from the policy anniversary coinciding with or immediately after the death till the end of policy term, Joshi said.

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Shareholder for LIC

DID YOU KNOW:

Government of India is the only shareholder for LIC.

There is no term called 'Profit' in LIC. Ever year, valuation is done and 'surplus' is arrived at, out of which 5% is given to Government as dividend and ninety five percent is given back to policyholders as bonus.

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LICMobile

Did you know? You can now access all the pertinent information about LIC’s plans, polices, premiums, make use of the mobile services and also, apply for policies with newly launched ‘LICMobile’ Android application.

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LIC logo

Did you know the famous LIC logo is made up of a flame that signifies life and the protective hands of life insurance that assure its continuance.

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LIC’s new plan ‘Jeevan Vriddhi’

LIC’s new plan ‘Jeevan Vriddhi’ offers multiple benefits to the customer :
Security – Five times of the single premium is being offered as the risk cover

Growth – There is attractive Guaranteed Maturity Sum Assured along with Loyalty additions, if any (based on Corporation’s experience).

Convenience – One time payment only.

Freedom – There is no upper limit on investment for eligible lives.

Liquidity – Loan is available after just one year.

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Children Plans

Secure Child This plan provides regular income for child's education from 16 years of his age till 21 years and Higher lumpsum amount at age 22 to enable him to pursue post graduation studies abroad or start business. Waiver of Premums in case of death of the proposer (parent). Premium payable (from own fund) till 15 years of his age.

Jeevan Anurag Jeevan ANURAG is a with profits plan specifically designed to take care of the educational needs of children. The plan can be taken by a parent on his or her own life. Benefits under the plan are payable at prespecified durations irrespective of whether the Life Assured survives to the end of the policy term or dies during the term of the policy. In addition, this plan also provides for an immediate payment of Basic Sum Assured amount on death of the Life Assured during the term of the policy.

Komal Jeevan This is a Children's Money Back Plan that provides financial protection against death during the term of plan with periodic payments on survival at specified durations. This plan can be purchased by any of the parent or grand parent for a child aged 0 to 10 years.

Jeevan Kishore This is an Endowment Assurance Plan available for children of less than 12 years of age. The policy may be purchased by any of the parent/grand parent.

Jeevan Chhaya This is an Endowment Assurance plan that provides financial protection against death throughout the term of the plan. Besides payment of Sum Assured immediately on death, one-fourth of Sum Assured is payable at the end of each of last four years of policy term whether the life assured dies or survives the term of the policy.

Child Career Plan This plan is specially designed to meet the increasing educational and other needs of growing children. It provides the risk cover on the life of child not only during the policy term but also during the extended term (i.e. 7 years after the expiry of policy term). A number of Survival benefits are payable on surviving by the life assured to the end of the specified durations.

Child Future Plan This plan is specially designed to meet the increasing educational, marriage and other needs of growing children. It provides the risk cover on the life of child not only during the policy term but also during the extended term (i.e. 7 years after the expiry of policy term). A number of Survival benefits are payable on surviving by the life assured to the end of the specified durations.

To avail any LIC plan, mail at ramanand.bokaro@gmail.com.

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LIC Komal Jeevan Review

LIC Komal Jeevan Review

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Plan Name: Komal Jeevan

Insurer: Life Insurance Corporation of India
Category: Traditional Participating Plan
Objective: Financially Securing Child’s Future

Major USP of LIC Komal Jeevan

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Periodic Payout

Bonus Additions
Waiver of premium rider available

Eligibility of LIC Komal Jeevan

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Minimum Entry Age: 0 for child
Maximum Entry Age: 10 for child
Policy Term: 8-18 Years
Minimum Sum Assured: 100,000
Maximum Sum Assured: 2,500,000

What benefits does LIC Komal Jeevan offer?

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Money Back:

A specified % of Sum Assured will be paid in intervals after your child turns 18.


Maturity Benefit:
On maturity, Sum Assured along with all accrued bonuses and guaranteed additions will be paid


Death Benefit:
Sum Assured along with vested bonuses and guaranteed additions will be paid. . If the risk cover has not started, the premiums paid will be returned.


Bonuses:
Compounded Reversionary bonuses and terminal bonus if any shall also be paid.


Waiver of Premium:
You can opt for waiver of premium rider by paying additional nominal premium.

Are there any tax benefits?

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Under Section 80C you can avail tax benefit, yearly premium (not more than 1lac) will be deducted from taxable income.

Under Section 10(10D) death claim is completely tax free.

What else should I know about?

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Paid up Sum Assured: After three policy years if you are unable to continue policy, you can convert to paid up. The policy will not participate in future performance. On maturity or death, reduced Sum Assured with guaranteed addition and any vested bonuses if any will be paid.

Surrender Value: In case you want to cancel Komal Jeevan after 3 years, the minimum guaranteed surrender value before risk cover is equivalent to 90% of all premiums paid barring the first year premium. After the risk cover, the guaranteed surrender value is 30% of all premiums paid plus 90% of premiums paid before commencement of risk.


Free Look Period: Komal Jeevan plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports.

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