This new plan of LIC (Jeevan Aastha) although provide gtd. returns but plz. note the NET Yield is variable for different age person due to difference in prem. paid for the same amount of cover.
Some info for this policy is given below.
Minimum Sum assured = 150000 & can be purchsed in multiples of 30000
Max. Sum assured = No limit
Prem. type = single prem. only
Type of policy = Traditional endowment policy with gtd. return
Minimum entry age = 13 years (nearest birth day)
Max. entry age = 60 years (nearest birth day)
Policy term = 5 years or 10 years
in First policy year the SA = 6 times of Single prem. paid (appx.)
From 2nd year onwards SA = 2 times of single prem. paid (appx.)
Maturity SA = 1/6th of original SA
GTD. addition per year = 100 Rs. for per 000 maturity SA for 10Y plan & 90 Rs. for 5 year plan
Loan & surrender value = after completion of 1st policy year
Sample benefit illustration for a 35year normal healthy male stamdard life.
Age of life assured = 35 years
SA = 300000
Maturity SA = 1/6 of Initial SA = 50000
Single prem. = 48975
Term of policy = 10 years
In case of death during 1st policy year claim amount = Initial SA + GTD addition = 300000 + 5000 (@ 100 Rs. per 000 maturity SA for 50,000 maturity SA)
In case of death during 2nd to 10th year claim amount = 100000 (reduced SA) + GTD. addition of 5000 Rs. per year
Maturity amount after 10 years = 50000 (maturity SA) + 50000 (gtd. addition) + 10000 (lyality addition if any, not gtd.) = 110000 Rs.
Paying premium is the best way to save TAX make savings for the future. Invest in Insurance plans which gives good returns. Call me at 9972660645 or visit http://www.licbangalore.in
Saturday, January 10, 2009
Wednesday, January 7, 2009
jeevan aastha
Life Insurance Corporation of India (LIC) on Monday launched Jeevan Aastha, a single premium life insurance product with guaranteed benefits on maturity and death.
LIC zonal manager (south central zone) DD Singh said the scheme would be offered with five and ten-year terms giving a guaranteed ten per cent and nine per cent per annum of maturity sum respectively. While the minimum age for entry will be 13, the maximum is 60.
The minimum basic sum assured will be Rs 1.5 lakh. In the first year, the risk coverage will be six times the maturity sum assured along with the guaranteed returns while it will be double the maturity amount after one year.
The premium paid and returns from the product will be exempted from tax.
Singh said LIC was expecting Rs 3,500 crore from the new product from Andhra Pradesh and Karnataka zones. The scheme closes on January 21.
LIC zonal manager (south central zone) DD Singh said the scheme would be offered with five and ten-year terms giving a guaranteed ten per cent and nine per cent per annum of maturity sum respectively. While the minimum age for entry will be 13, the maximum is 60.
The minimum basic sum assured will be Rs 1.5 lakh. In the first year, the risk coverage will be six times the maturity sum assured along with the guaranteed returns while it will be double the maturity amount after one year.
The premium paid and returns from the product will be exempted from tax.
Singh said LIC was expecting Rs 3,500 crore from the new product from Andhra Pradesh and Karnataka zones. The scheme closes on January 21.
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