LIC Jeevan Anand Plan and advantages

Jeevan Anand Features

Jeevan Anand is one of the popular plan from LIC (Life Insurance Corporation.).

LIC's Jeevan Anand is a With Profit assurance plan.

The plan is a combination of the Whole Life Plan and the most popular Endowment Assurance Plan.

Jeevan Anand Policy provides pre-decided Sum Assured and bonuses at the end of the stipulated premium paying term, but the risk cover on the life continues till death.


Salient Features

Under the plan, premiums are limited to the term chosen and benefits are payable on the date of maturity. But the insurance cover on the life assured continues till death, like a whole life policy.

Bonus accrues during the premium paying term and is payable at the end of the premium paying term or on earlier death along with Final Additional Bonus.

No Bonus is paid on death after the premium paying term.

Double Accident Benefit is available during the premium paying term and thereafter up to age 70 where in additional sum assured is payable on death due to an accident. This benefit is built in and no additional premium needs to be paid.

Loans will be granted against the surrender value of the policy after payment of premiums for at least 3 years.

Interest on such loans will be fixed by the corporation from time to time.



Benefits


Survival Benefits:
Sum Assured along with all vested bonuses payable at the end of the premium paying term (Endowment term).

Accident Benefit:
The Double Accident benefit is available during the premium paying term and thereafter up to age 70. The premium for this has been built into the tabular premium rates. Maximum accident cover available under this plan will be Rs. 5 lakh (this limit excludes accident benefit taken under other plans).

Premium Stoppage:
If payment of premiums ceases after at least three years? premiums have been paid , a free paid-up policy for a reduced Sum Assured will be automatically secured provided the reduced sum assured, exclusive of any attached bonus, is not less than Rs. 250/-. The reduced sum assured will become payable on the event as stipulated in the policy.

Bonus:
If it is a With Profits Policy note that every year the LIC distributes its surplus among policyholder to with profits polices in the form of bonuses. Substantial bonuses have been declared in the past after each valuation of policy liabilities.

Death Benefits:
Sum Assured along with vested bonuses are payable on death during the premium paying term and when policy ceases. An amount equal to the Sum Assured is payable if death occurs after the premium paying term. Simple Reversionary Bonus accrues during the premium paying term and is payable at the end of the premium paying term or on earlier death along with final additional bonus, if any. No Bonus is paid on death after the premium paying term.

Suitable for:
Being an endowment assurance + whole life policy, this plan is apt for people 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 policyholders life or in any other way he may think most suitable at that time. Most ideal if you want to ensure Permanent family financial protection + enjoy the fruits of your savings yourself on outliving the PPT you have chosen .

Conclusion:


Jeevan Anand offer the double benefit of Endowment as well as whole life plan with little extra premium and plan is worth taking for those who wants the benefit of both Endowment as well as Whole Life.
Features Jeevan Anand is one of the popular plan from LIC (Life Insurance Corporation.).

LIC's Jeevan Anand is a With Profit assurance plan.

The plan is a combination of the Whole Life Plan and the most popular Endowment Assurance Plan.

Jeevan Anand Policy provides pre-decided Sum Assured and bonuses at the end of the stipulated premium paying term, but the risk cover on the life continues till death.




For free quotations and plan details pls call at 9480240513 or send mail to support@licbangaloreonline.com

L.I.C’s Jeevan Nischay (Plan No. 199)

L.I.C’s Jeevan Nischay (Plan No. 199) Launched

Life Insurance Corporation of India, launched a new close ended plan named, “L.I.C’s Jeevan Nischay”. Jeevan Nischay (Plan No. 199) being a close ended plan, will be open for sale from 29th October, 2009 till 31st March 2010 and will be offered only to the existing policy holders of L.I.C only.

L.I.C’s Jeevan Nischay is a single premium assurance plan with Loyalty Addition. This plan will be offered without any medical examination, only to the existing policyholders of the Corporation whose previous policies have been accepted at standard rates and have at least one policy in force. Further, the policy holders who have only an annuity or pension plan without risk cover shall not be eligible for this plan.

BENEFITS:

a) Death Benefits

On death during first policy year: 5 times single premium excluding extra premium if any.

On death during the policy term after the first policy year: Maturity Sum Assured.

On death during last policy year: Maturity Sum Assured with Loyalty Addition.

b) Maturity Benefits:

On maturity the Maturity Sum Assured with Loyalty Addition will be payable.

ELIGIBILITY CONDITIONS:

Age Limits: 18yrs to 50yrs of age.

Minimum Single Premium: Rs 10,000/-

Maximum Single Premium: Rs 10,00,000/-

Policy Term: 5, 7 and 10 years

SURRENDER VALUE:

Guaranteed Surrender Value will be available under this plan, after completion of one year of policy.

LOAN:

Loan facility is available under this plan after completion of one policy year.

To avail this plan, Call us at 9480240513 ( Bangalore )

JEEVAN AASTHA

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.

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 OF INDIA

No claim without Helmet and Driving Licence

Simplified Claim Settlement Process for Claims arising out of Terrorist Attack in Mumbai

LIC offers heartfelt condolences to all the people affected by Terrorist attack in Mumbai on 26th & 27th November, 2008. In these difficult times, LIC stands by you.

Simplified Claim Settlement Process:
No claim investigation will be conducted.
Double Accident Benefit/Disability Benefit is payable wherever applicable.
Any evidence in Government/Municipal record showing death due to Terrorist attack in Mumbai will be accepted as proof of death.
Police reports, Post Mortem report will also be accepted as evidence of death if original death certificate is not available
For further queries Please contact our INFO Center on 022-1251 OR 022-26134584(from 8.00 AM to 8.00 PM)