- Tax Exemption Under 80C: Why to pay more tax unnecessarily? You can reduce tax by Taking LIC Policies till 1,50,000 to reduce tax and total amount you get at maturity is Tax free under 10 D
- Money When You Need It : What ever may be the needs in future, Save now to get money at any time by planning properly, It may be the Children's Education and Marriage etc
- Financial Support at Old Age: Life is complicated in old age and old age homes drastically increasing because of lack of planning and depending on others in old age, So we have to be take care of Financial Support for Old Age Now Itself.
- Fixed Amount at Any Time, Risk Free, Peace of Mind : When you take policy is the Sum Assured, Amount you get at any time if any thing happens is fixed from the date you took policy and you will get more than that at Maturity(after policy ends) so Why to worry live with peace of mind and Relax.
- You Never Know What Happens Next : It
may come's in any form with or with out your actions such as
unexpected illness or sudden accident and Many More we have to be
prepared for what ever happens in future.
- Protect Your Loved One's even After You : In
your life, you work hard to make sure those you love — spouse, partner,
children, family members — are taken care of. It’s just as important to
consider providing financial support for the future living costs of
surviving dependents. After all, they will have to go on without you.
Make sure they’re protected, too.
Choose Best LIC Policy Now and Secure your Life contact us Mail us : licpolicies.info@gmail.com or Call : +91 9059108346
Wednesday, July 30, 2014
Why Insurance
Most of the people thinks that
taking Life Insurance is Policy in which they get money after death but
actually it does more than that and every Person must have at least one
Insurance Policy because
LIC Jeevan Arogya -904
LIC Jeevan Arogya : is a plan which helps individuals to cope up with the rising medical costs. In this plan you can cover yourself, spouse, children, parents as well as mother-in-law and father-in-law. It is a comprehensive health insurance policy for the entire family.
Features ;
Features ;
§ One health insurance policy that covers self, spouse, children, parents and parents-in-law
§ Covers hospitalization, surgery and much more
§ Provides benefit payout irrespective of actual medical cost incurred
§ Can be availed along with existing mediclaim policy for the same hospitalization / surgery
§ Cover can be extended to new members of the family in case of marriage and childbirth
§ Quick Cash Facility is available on hospitalization instead of waiting to make a claim for the benefit after discharge
§ Under Quick Cash, 50% advance payment is given by LIC (under 57 surgeries performed in network hospitals)
§ Payout made on the basis of photocopy of bills
§ No Claim Benefit is 5% of initial Hospitalization Cash Benefit (HCB)
What is covered in LIC Jeevan Arogya?
§ Hospitalisation Cash Benefit (HCB)
§ Major Surgical Benefit (MCB) is 100 times the HCB / Accidental Death Benefit (ADB)
§ Day Care Procedure Benefit paid as lump sum
§ Other Surgical Benefits (where all other surgeries are covered) is 2 times HCB / ADB
§ Ambulance charges up to Rs 1000 per insured per year, for major surgeries under category 1 or 2
§ Premium Waiver Benefit
§ Auto increase @ 5% in both HCB and MCB up to 50% even if there is any claim
Hospitalisation Cash Benefit in detail:
- Choose from Rs 1000 to Rs 4000 per day
- Up to Rs 4000 per day for maximum 720 days
- Up to Rs 8000 per day for maximum 360 days in ICU
Daycare procedures (which do not require 24 hr hospitalisation) in detail:
- 5 times Hospitalisation Cash Benefit (HCB) / Accidental Death Benefit (ADB)
- 140 surgeries
- 3 daycare procedures covered in a year, and 24 procedures covered in a lifetime
Waiting period for availing benefits in LIC Jeevan Arogya
- Accidental claims - 0 days
- HCB and MSB - 90 days from policy start date
Example :
If any one at age of 25 Years want to take Health plan with Daily Hospitalization Cost Benefit 1000 Per Day Need to pay only 2,025/- Per Year
LIC's New Jeevan Nidhi - 818
New Jeevan Nidhi : is a deferred annuity plan with bonus. This plan is purchased to cover the risk of living too long and hence has multiple pension options to cover that risk. The corpus that is created to provide pension for old age is the Sum Assured + Accrued Guaranteed Additions + Simple Reversionary Bonus + Terminal Bonus. The age where pension is payable is called Vesting Age and the date when pension starts is called Vesting Date.
Features :
Benefits
Features :
- Deferred annuity plan with bonus facility
- Guaranteed Additions available for the first 5 years
- Offers Bonus from the 6th year onwards
- Optional cover of Accidental Death and Disability Benefit rider available
- Large sum assured rebate
Benefits
Death Benefit
In case of death of the Life Insured before the vesting date, but
Within the first 5 years of the policy
provided all premiums have been paid, the nominee will be provided the Basic Sum Assured + accrued Guaranteed Additions which can be paid in a lump sum or as annuity or a combination of the two.
After the first 5 years of the policy:
provided all premiums have been paid, the nominee will be provided the Basic Sum Assured + accrued Guaranteed Additions + Simple Revisionary + Final Additional Bonus, if any, which can be paid in a lump sum or as annuity or a combination of the two.
Vesting Benefit – At the time of vesting, there are 3 choices
1. Withdraw 1/3rd of the entire corpus tax free and then purchase an Immediate
Annuity Plan from the remaining amount at the prevailing annuity rates
2. Buy an Immediate Annuity Plan from the entire amount at the prevailing annuity rates
3. Buy a Single Premium Deferred Annuity Plan
Example :
If any one at age of 25 Years want to take the pension plan with Sum Assured of 5,00,00 for the period of 30 Years Need to Pay only 15,548/- per year
On Death :
With in First 5 Years of the Policy :
If policy holder dies With in First 5 Years of the Policy then Nominee will get
5,00,000/- Basic Sum Assured
1,25,000/ - Accrued Guaranteed Additions
5,00,000/- Accidental Sum Assured
Total Around 11,25,000/- , This can be taken as Lump Sum or Can be converted to Pension for Nominee or Both
After First 5 Years of the Policy:
If policy holder dies After First 5 Years of the Policy then Nominee will get
5,00,000/- Basic Sum Assured
1,25,000/ - Accrued Guaranteed Additions
5,00,000/- Accidental Sum Assured
5,00,000/- Simple Revisionary Bonus
5,50,000/- Final Additional Bonus
Total Around 21,75,000/- This can be taken as Lump Sum or Can be converted to Pension for Nominee or Both
If the Person die because of A
On Maturity:
On Maturity Total Amount can be take in 3 ways
1) 5,58,334/- Can be taken as Lump Sum and Remaining Amount will be used to Buy Annuity Plan By which Pension will be paid after policy holder death
2) Total Amount will be Used Annuity Plan By which Pension will be paid after policy holder death
3) Total Amount will be Used Buy a Single Premium Deferred Annuity Plan By which Pension
will be paid Pension after policy holder death.
Monday, July 28, 2014
Single Premium Endowment Plan - 817
LIC's
Single Premium Endowment Plan : is a savings cum protection plan. The
plan provides financial protection against death during the policy term
with the provision of payment of lump sum at maturity on survival. This
plan also takes care of liquidity needs through its loan facility.
Features
For those aged 8 years or more, risk will commence immediately.
Benefits:
On Death before the commencement of risk
If the policy holder dies before the commencement of risk, the nominee will receive the single premium paid (excluding the service tax and extra premium).
On Death after the commencement of risk
If the policy holder dies before the commencement of risk, the nominee will receive following:
1. Basic Sum Assured
2. Revisionary Bonus
3. Final Additional Bonus (if any)
On Maturity
If the policy holder survives the term of the plan, he/she will receive:
1. Basic Sum Assured + Revisionary Bonus + Final Additional Bonus (if any)
Example
If any one at age of 25 Years with Sum Assured of 1,00,000 for the period of 20 years need to pay
Single Premium : 52,765/-
Sum Assured : 1,00,000/-
Tax benefit
She will only get a tax exemption of Rs 10,000/- (10% of sum assured) irrespective of the fact that she is paying premium of Rs 52,765/-
On Death
If policy holder dies during the policy term, her nominee will receive the sum assured along with the accrued bonuses.
1,00,000/- ( Sum Assured )
84,000/- ( Bonus accrued)
4,000/ -( Final Additional Bonus)
Total Around : 1,88,000/-
On Maturity
If policy holder survives the policy term the will receive the sum assured along with the accrued bonuses.
1,00,000/- ( Sum Assured )
84,000/- ( Bonus accrued)
4,000/ -( Final Additional Bonus)
Total Around : 1,88,000/-
- Single Premium Endowment Plan
- Life risk cover for the life insured
- Savings Oriented Plan
- Loan facility available after completing one policy year
- Moderate Premium, high bonus rate
Commencement of Risk
In case the age of Life Assured at entry is less than 8 years, risk under this plan will commence either 2 years from the date of commencement or from the policy anniversary coinciding with or immediately following the attainment of 8 years of age, whichever is earlier.For those aged 8 years or more, risk will commence immediately.
Benefits:
On Death before the commencement of risk
If the policy holder dies before the commencement of risk, the nominee will receive the single premium paid (excluding the service tax and extra premium).
On Death after the commencement of risk
If the policy holder dies before the commencement of risk, the nominee will receive following:
1. Basic Sum Assured
2. Revisionary Bonus
3. Final Additional Bonus (if any)
On Maturity
If the policy holder survives the term of the plan, he/she will receive:
1. Basic Sum Assured + Revisionary Bonus + Final Additional Bonus (if any)
Example
If any one at age of 25 Years with Sum Assured of 1,00,000 for the period of 20 years need to pay
Single Premium : 52,765/-
Sum Assured : 1,00,000/-
Tax benefit
She will only get a tax exemption of Rs 10,000/- (10% of sum assured) irrespective of the fact that she is paying premium of Rs 52,765/-
On Death
If policy holder dies during the policy term, her nominee will receive the sum assured along with the accrued bonuses.
1,00,000/- ( Sum Assured )
84,000/- ( Bonus accrued)
4,000/ -( Final Additional Bonus)
Total Around : 1,88,000/-
On Maturity
If policy holder survives the policy term the will receive the sum assured along with the accrued bonuses.
1,00,000/- ( Sum Assured )
84,000/- ( Bonus accrued)
4,000/ -( Final Additional Bonus)
Total Around : 1,88,000/-
New Bima Bachat - 816
New Bima Bachat :LIC’s Bima Bachat is a single premium money-back policy which offers financial security and assurance to the policy holder and his family.
Bima Bachat requires the policy holder to pay only one premium. The amount paid for the premium depends on the duration of the policy taken and life insurance is available till the date of maturity.
Features
Available Terms : 9, 12 and 15 years
Survival Benefits :
For a term 9 years: The policy holder will receive 15% of the sum assured at the end of 3rd and 6th policy year.
For a term 12 years: The policy holder will receive 15% of the sum assured at the end of 3rd, 6th and 9th policy year.
For a term 15 years: The policy holder will receive 15% of the sum assured at the end of 3rd, 6th, 9th and 12th policy year.
Benefits:
On Death within first 5 years of policy term
If the policy holder dies within first five years of the policy term, his/her nominee will receive the sum assured. The periodical survival benefits which have already been paid will not be deducted.
On Death after 5 years of policy term
If the policy holder dies after completing first five years of the policy term, his/her nominee will receive the sum assured + loyalty additions. The periodical survival benefits which have already been paid will not be deducted
On Maturity
At the time of maturity, a single premium payment (excluding extra premium) is made along with loyalty additions, if any.
Example:
If any one at age of 25 Years want this Policy With Sum Assured of 1,00,000 for policy period of 15 Years
Single Premium : Rs 77,270/-
Sum Assured : Rs 1,00,000/-
Tax benefit : He will only get tax exemption of Rs 10,000/- (10% of sum assured) irrespective of the fact that he is paying premium of Rs 74,592/-
Survival Benefits
3rd year : Rs 15,000/- (15% of Sum Assured)
6th year : Rs 15,000/- (15% of Sum Assured)
9th year : Rs 15,000/- (15% of Sum Assured)
12th year : Rs 15,000/- (15% of Sum Assured)
15th Year : 77,270/- ( Single Premium Paid)
71,000/- ( Loyalty Bonus )
Total around : 1,48,270/- On 15th Year
On Death
If policy holder dies first five years of policy term, Nominee will receive the sum assured Rs 1,00,000/-
If policy holder dies after completing first five years of the policy term, Nominee will receive
1,00,000/- ( Sum Assured )
71,000/- ( Loyalty Bonus ) Loyalty additions.
Total around : 1,71,000/-
Bima Bachat requires the policy holder to pay only one premium. The amount paid for the premium depends on the duration of the policy taken and life insurance is available till the date of maturity.
Features
- Single premium money back plan
- Option to choose among 9,12 and 15 year terms
- 15% of sum assured is paid as survival benefit after every 3 years
- Single premium (excluding extra premium) is returned along with loyalty additions (if any) at the time of maturity
- Loan facility available after completing one policy year
Available Terms : 9, 12 and 15 years
Survival Benefits :
For a term 9 years: The policy holder will receive 15% of the sum assured at the end of 3rd and 6th policy year.
For a term 12 years: The policy holder will receive 15% of the sum assured at the end of 3rd, 6th and 9th policy year.
For a term 15 years: The policy holder will receive 15% of the sum assured at the end of 3rd, 6th, 9th and 12th policy year.
Benefits:
On Death within first 5 years of policy term
If the policy holder dies within first five years of the policy term, his/her nominee will receive the sum assured. The periodical survival benefits which have already been paid will not be deducted.
On Death after 5 years of policy term
If the policy holder dies after completing first five years of the policy term, his/her nominee will receive the sum assured + loyalty additions. The periodical survival benefits which have already been paid will not be deducted
On Maturity
At the time of maturity, a single premium payment (excluding extra premium) is made along with loyalty additions, if any.
Example:
If any one at age of 25 Years want this Policy With Sum Assured of 1,00,000 for policy period of 15 Years
Single Premium : Rs 77,270/-
Sum Assured : Rs 1,00,000/-
Tax benefit : He will only get tax exemption of Rs 10,000/- (10% of sum assured) irrespective of the fact that he is paying premium of Rs 74,592/-
Survival Benefits
3rd year : Rs 15,000/- (15% of Sum Assured)
6th year : Rs 15,000/- (15% of Sum Assured)
9th year : Rs 15,000/- (15% of Sum Assured)
12th year : Rs 15,000/- (15% of Sum Assured)
15th Year : 77,270/- ( Single Premium Paid)
71,000/- ( Loyalty Bonus )
Total around : 1,48,270/- On 15th Year
On Death
If policy holder dies first five years of policy term, Nominee will receive the sum assured Rs 1,00,000/-
If policy holder dies after completing first five years of the policy term, Nominee will receive
1,00,000/- ( Sum Assured )
71,000/- ( Loyalty Bonus ) Loyalty additions.
Total around : 1,71,000/-
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