Saturday, 23 January 2016

LIC's Jeevan Lakshya Plan


LIC’s Jeevan Lakshya policy is a combination of risk cover and saving plan which is most suitable for the purpose of providing financial security of children and family. This policy provides life cover during the policy term and Sum Assured + Bonuses on survival as maturity. In case of death of policy holder during the policy term, this policy provides 10% of sum assured every year till maturity and on maturity it again provides Sum Assured + Bonuses as maturity.





















Key Features

  • Annual Income in case of death
  • Sum assured + Simple Reversionary Bonus + Final Addition Bonus as maturity.
  • Annual Income feature can be used as child education in case of death
  • Paid premiums are exempted from income tax under 80C
  • Maturity amount is tax free under 10 (10D)

Plan Parameters

Age of Entry18 to 50 years
Premium Paying ModeYearly, Half Yearly, Quarterly, Monthly (ECS Only)
Go to Premium Calculator
Policy Term13 to 25 years
Premium Paying Term(Policy Term - 3) years
Sum Assured100000 and above (in multiples of 10000)
Premium Payment Mode rebate2% on yearly, 1% on Half Yearly, Nil on Quarterly & Monthly
High Sum assured Rebate0% of SA on 0 to 2,00,000
2% of SA on 2,00,000 to 4,90,000
3% of SA on 5,00,000 and above
LoanAfter 3 Years
SurrenderAfter 3 Years
RevivalWithin 2 Years of Lapse

Death benefits

  • In case of death of policy holder during policy term, 10% of Sum Assured will be provided to nominee each year till the maturity, and
  • On maturity, Sum Assured + Simple Reversionary Bonus + Final Addition Bonus will be payable as maturity amount.

Maturity benefit

  • Sum Assured + Simple Reversionary Bonus + Final Addition Bonus will be payable as maturity amount. .

Illustrations with Example

To understand Jeevan Lakshya Plan, Lets take an example of a person who is purchasing Jeevan lakshya Plan with following details.

Sum Assured: Rs. 10,00,000
Policy Term: 21 Years
Premium Paying Term: 18 Years
Policy Purchase Year: 2015
Age: 28 Years
Yearly Premium: Rs. 52455

Calculate premium other than above, Click Here
Since Premium paying term is 3 year lesser than policy term, so premium will be payable for 18(21-3) years in this case.

Maturity benefit illustration

At maturity, Jeevan Lakshya provides Sum Assured + Simple Reversionary Bonus + Final Addition as maturity amount on survival of policy holder. Following table indicates the maturity details.
YearSum Assured (Guaranteed)Bonues (Variable)Maturity Amount (Approx)
203610,00,00011,08,00021,08,000

Death benefit illustration

In case of unfortunate death of policy holder during policy term, this plan proivides 10% of sum assured every year till maturity and again at competion of policy term maturity amount is also payable. To understand this benefit, let's suppose death happens 10 year after taking this policy, age of the policy holder and year at time of death will 38 and 2024 repectively. 10% of sum assured will be payable from year of death till maturity and on completion of the policy term maturity benefit will be also provide. Following table provides year-wise details.

End of YearYearPremium PaidReturn in case of deathRemarks
12015524550
22016524550
32017524550
42018524550
52019524550
62020524550
72021524550
82022524550
92023524550
1020240100000Unfortunate death happens
1120250100000
1220260100000
1320270100000
1420280100000
1520290100000
1620300100000
1720310100000
1820320100000
1920330100000
2020340100000
21203502108000Maturity Amount
Total5245503208000Maturity + Yearly Income






Posted by at 1 comment:

Friday, 22 January 2016

LIC न्यू जीवन आनन्द (815) पालिसी

LIC न्यू जीवन आनन्द (815) पालिसी

LIC न्यू जीवन आनन्द (815) पालिसी एक सबसे ज्यादा बिकने वाला जीवन बीमा प्लान है जो परिपक्वता (Maturity) के बाद भी जिंदगी भर सुरक्षा प्रदान करता है | यह प्लान दुर्घटना लाभ राइडर के साथ और भी लाभदायक हो जाता है | इस प्लान को एक उद्दाहरण के द्वारा समझाया गया है | उद्दाहरण से पहले इस प्लान से संबंधित आवश्यकतायें एवं लाभ को संछिप्त में विवरण कर लेते हैं |

प्लान के लिय योग्यता एवं अन्य बिवरण

प्रवेश की न्यूनतम उम्र18 साल ( पूर्ण)
प्रवेश की अधिकतम उम्र50 बर्ष ( निकटतम जन्म दिन)
प्रीमियम भुगतान वार्षिक, अर्धवार्षिक, तिमाही, मासिक
पालिसी की अवधि (Term)15 से 35 वर्ष
बीमा राशि (Sum Assured)100000 से उपर ( 5000 के गुणक में)
प्रीमियम भुगतान विधि (mode) छुट2% वार्षिक एवं 1% अर्धवार्षिक प्रीमियम पर
अभायर्पण (Surrender)3 बर्ष चलाने के बाद
कर्ज (Loan)3 बर्ष चलाने के बाद

परिपक्वता लाभ (Maturity)

पालिसी अवधि के पूरा होने पर परिपक्वता राशि बीमा धारक को दी जायेगी जो की बीमा राशि (Sum Assured) + साधारण प्रत्यावर्ती बोनस (Bonus)+ अंतिम अतिरिक्त बोनस (FAB) के बराबर होगी है | परिपक्वता के बाद, किसी भी समय पालिसी धारक मृत्यु होने पर Nominee को बीमा राशि के बराबर मृत्यु दावा राशि दी जायेगी |

मृत्यु लाभ (Death Claim)

पालिसी अवधि के दौरान मृत्यु होने पर मृत्यु दावा nominee को दी जायेगी, जो की बीमा राशि (Sum Assured) का 125 % + मृत्यु के समय तक निहित साधारण प्रत्यावर्ती बोनस (Bonus)+ अंतिम अतिरिक्त बोनस (FAB) के बराबर होगी |

समझने के लिए एक उद्दाहरण

एक व्यक्ति जिनकी उम्र 26 वर्ष है और निम्नलिखित विवरण का न्यू जीवन आनन्द पालिसी खरीदता है |
बीमा राशि (Sum Assured): रू . 5,00,000
पालिसी अवधि (Term):21 साल
पालिसी लेने का वर्ष : 2015
Age: 26 Years

वार्षिक प्रीमियम : रू 27454 प्रीमियम कैलकुलेटर

अन्य विवरण के साथ maturity कैलकुलेट करने क लिए यंहायंहा क्लिक करें .
Advertisement


पालिसी लेने के बाद 2 सम्भावनाये हो सकती है | पहली संभावना, पालिसी धारक 21 साल पूरा करे और अपना परिपक्वता राशि ले या पालिसी धारक की मृत्यु 21 साल से पहले हो और nominee को मृत्यु दावा राशि मिले | दोनों दशा के लाभ को नीचे बताया गया है |
परिपक्वता राशि (Maturity)
पालिसी धारक के 21 साल पूरा करने पर बीमा राशि (Sum Assured) + साधारण प्रत्यावर्ती बोनस (Bonus)+ अंतिम अतिरिक्त बोनस (FAB) मिलेगी जो की नीचे टेबल में दर्शायी गयी है |

परिपक्वता वर्षपरिपक्वता के समय उम्रपरिपक्वता राशि (लगभग)
2036471102000
परिपक्वता राशि (maturity) लेने के बाद जीवन आनन्द प्लान जिंदगी भर बीमा प्रदान करता रहेगा. अर्थात् maturity के बाद मृत्यु की दशा में nominee को बीमा की राशि फिर से दी जायेगी|

वर्ष अंतरालउम्र अंतरालबीमा राशि
2036 से आगे47 से आगे500000
मृत्यु लाभ (Death Claim)

पालिसी धारक के 21 साल से पहले मृत्यु की दशा में बीमा राशि (Sum Assured) का 125 % + मृत्यु के समय तक निहित साधारण प्रत्यावर्ती बोनस (Bonus)+ अंतिम अतिरिक्त बोनस (FAB) nominee को दी जायेगी. उम्र- वार और साल-वार मृत्यु दावा राशि अगले टेबल में दी गयी है | अगर मृत्यु किसी दुर्घटना से होती है तो बीमा राशि के बराबर राशि और दी जायेगी नीचे टेबल में इसे दुर्घटना लाभ के रूप में दर्शाया गया है |

वर्षउम्रवर्ष-वार व उम्र-वार मृत्यु दावा राशि (लगभग)वर्ष-वार व उम्र-वार दुर्घटना मृत्यु दावा राशि (लगभग)
2015266495001149500
2016276740001174000
2017286985001198500
2018297230001223000
2019307475001247500
2020317720001272000
2021327965001296500
2022338210001321000
2023348455001345500
2024358700001370000
2025368945001394500
2026379190001419000
2027389435001443500
2028399680001468000
20294010075001507500
20304110345001534500
20314210640001564000
20324310935001593500
20334411355001635500
20344511875001687500
20354612270001727000

Posted by at No comments:

Wednesday, 20 January 2016

LIC's New Children Money Back Plan





Posted by at 1 comment:

Thursday, 14 January 2016

NEW BIMA GOLD INSURANCE POLICY BY LIC

Features of plan It has been decided to introduce LIC,S new bima gold (plan no. 179) with effect from 4th September, 2006. it is a plan where premiums paid over the term of plan are paid back during the policy term in instalments at specified duration in case of survival of life assured and life insurance cover is a available not only during the term but also during the extended term of the plan.
Extended term: the extended term will be half of the policy term and shall commence immediately on the expiry of the term. For example for a 16 years policy term The extended term will be 8 years with the result the total term will be 24 years. No premium are payable during the extended term of the plan.
Plan parameters 
Age at entry: Min. 14 yrs (comp) max. 57 yrs (NBD) for term 12 yrs max.51 yrs (NBD) for term 16 yrs. Max 45 yrs (NBD) for term 20 yrs
Age at expiry of
Extended term: max. 75 yrs. (NBD)
Sum assured: min. 50,000 max. no. limit
S.A in multiples: 5000
Term: 12, 16, 20 years.
Mode of payment: YLY/HLY/ QLY/ SSS/ MLY
Accident benefit: Re. 1 extra per
(Max. 50Lacs inclusive all plan)
Policy loan: yes
Housing loan: yes
Assignment: yes
Revival: yes
Surrender of policy: yes
Term rider: N.A.
CIR: N.AUnderwriting conditions
Form no: 300/340
Age proof: std/ NSAP- 1
Female lives category: I/II
Non-medical (gen): allowed
Non-medical (prof): allowed
Actual coverage: SA+ Bonus
Dating back @ 8%: Allowed
Benefits:
Death benefit: during the policy term: payment of amount equal to sum assured under the basic plan on death of the life assured during the policy term
During the extended term: payment of an amount equal to 50% of sum assured under the basic plan on death of the life assured during the extended term provided all the premium under the policy have been paid.
Survival benefit: in case the life assured is surviving to the end of the specified durations, the following benefit shall be payable:For policy term 12 years: 15% of the sum assured under basic plan at the end of each 4th policy year.
For policy term 16 tears: 15% of the sum assured under basic plan at the end of each 4th, 8th 12th policy year.
On expiry of policy term: total amount of premiums (excluding extra/optional rider premiums, if any) paid plus loyalty addition, if any less the amount of survival benefit paid earlier.
Loyalty addition: this is a with-profit plan and the policy shall participate in the profits corporation’s with-profits assurance business. The policy shall however, be eligible to a share of profit in the form of loyalty addition (on time) only payable on expiry of policy term. On the life assured surviving the stipulated date of expiry of policy term, the policy may be eligible for payment of loyalty addition, if any; depending upon the experience of the corporation at such rate and on such term as may be declared by the corporation.
Auto cover: if at least two full year’s premium has been paid in respect of this policy, any subsequent premium is not duly paid, full death cover shall continue for a period of two years from the date of first unpaid premium (FUP). This period of 2 during the auto-cover period, one or more installments of premiums can be paid along with interest without considering continued of the life assured.
Paid-up & surrender values (GSV, SSV): if after at least full year’s premiums have been paid in respect of this policy, any subsequent premium be not duly paid, this policy shall not be wholly void after the expiry of two years auto cover period from the due date of fist unpaid premium, but shall subsist as a paid up policy for an amount equal to the total premiums paid (excluding any extra/ optional premium) less the survival benefit paid earlier, if any. This amount shall be called as paid up value. This policy, thereafter, shall be payable on the date of expiry of the policy term or at life assureds prior death. No survival benefit shall be free from all liabilities for payment of the within mentioned premiums.
The guaranteed surrender value shall be available after completion of at least three policy years and at least full years’ premiums have been paid. The guaranteed surrender value is equal to 30 percent of the total amount of premium paid for accident benefit rider and the amount of survival benefit paid earlier.
Cooling-off period: if a policyholder is not satisfied with the “term and conditions” of the policy, he/she may return the policy to the corporation within 15 days from the date receipt of the policy
Example: Mr. Ashok, aged 30 years opts for new bima gold (T. No.179) for 2lac S.A, paying an annual premium of Rs.7363/- for 20 years period. He receives Rs.20,000 each at the end of 4,8,12 and 16 years. On maturity the net amount payable will be total premium paid _ paid up survival benefit + loyalty addition, if any i.e. 7363 x 20 – 20,000 x 4 = 1,47,260 + loyalty addition, if any, he will also enjoy the extended term of 10 years i.e. the term will be 20+10 = 30 years. But if Mr. Ashok dies after 12 years, his nominee will receive Rs.2lac without deducting the survival benefit paid to Mr. Ashok.


Posted by at No comments:

LIC Jeevan Labh Plan

LIC Jeevan Labh (Table No 836) is a non-linked ( Not dependent on share market) limited premium paying endowment assurance plan which means premium paying term is less than policy term for example, if policy term 16 has been selected then premium will be paid for 10 years only and maturity will be paid after completion of 16 years. This policy is similar to Jeevan shree (closed for sale) which is one of the highest bonus attracting plans of LIC.

Key Features

  • High Bonus Attracting Plan
  • Premiums need to be paid for less number of years than Maturity year
  • Ideal Plan for planning Child's Education and Marriage
  • Options to avail accidental benefit and term riders
  • Paid premiums are exempted from income tax under 80C
  • Maturity amount is tax free under 10 (10D)

Plan Parameters

Minimum Age at Entry8 Years (Completed)
Maximum Age at Entry59 Years for 16 Year Term
54 Years for 21 Year Term
50 Years for 25 Year Term
Premium Paying ModeYearly, Half Yearly, Quarterly, Monthly (ECS Only) 
Calculate Your Premium
Policy Term (Premium Payment Term)16(10), 21(15), 25(16)
Basic Sum Assured2,00,000 and above (in multiple of 10,000)
Premium Payment Mode rebate2% on yearly, 1% on Half Yearly, Nil on Quarterly & Monthly
Rebate on High Sum Assured
(Per 1000 of Sum Assured)		0% up to 4,90,000
1.25% for 5,00,000 to 9,90,000
1.50% for 10,00,000 to 14,90,000
1.75% for 15,00,000 and above
LoanAfter 3 years
SurrenderAfter 3 years of full premium payment

Maturity Benefit

On completion of policy term, Sum Assured + Bonus + Final Addition Bonus will be paid as maturity.

Death Benefit

In case of death during policy term of the plan, Bonus up to year of death & FAB along with Sum Assured will be paid as Death claim to Policy holder's nominee.

Jeevan Labh (836) with an Example

Suppose a person who is purchasing Jeevan Labh Policy with following details. 
Sum Assured: Rs. 12,00,000
Policy Term: 25 Years
Premium Paying Term: 16 Years
Policy Purchase Year: 2016
Age: 29 Years.

As per above details, Yearly Premium: will be Rs. 56,357 (with Service tax)
Go To Premium Calculator 
Go To Maturity Calculator


So, as per above example, policy holder needs to pay the premium of Rs. 56,357 per year for 16 years (Premium Paying Term) and after completion of 25 years (Policy Term). The benefits (maturity & Year-wise death claims) related to this plan is given below.

Maturity Details
If Policy holder survives 25 years, then Maturity (Sum Assured + Bonus +FAB) will be as under.

Maturity YearAge at MaturityTotal Premium PaidMaturity Amount (Approx.)
2041548869073300000
Death Claim Details
In case of death during policy term ( Before 25 years ), Sum Assured + Bonus + Final Addition Bonus (Normal Life Cover) will be paid to nominee. In case of accidental death, additional amount equal to Sum Assured along with Sum Assured + Bonus + Final Addition Bonus (Accidental Life Cover) will be paid to nominee. Year-wise and Age-wise Normal Life Cover and Accidental Life Covers will be as follows.

How Understand Following Table
Suppose if, unfortunate death of policy holder happens in year 2027 (at age 40), then by that time total premium paid will be Rs. 6,65,427 and nominee will get death claim as Rs. 19,48,800 in case of normal death or Rs. 31,48,800 as accidental death claim in case of death due to accident and policy will stop.

YearAgeTotal Paid PremiumNormal Life Cover (Approx.)Accidental Life Cover (Approx.)
2016295635712624002462400
20173011172713248002524800
20183116709713872002587200
20193222246714496002649600
20203327783715120002712000
20213433320715744002774400
20223538857716368002836800
20233644394716992002899200
20243749931717616002961600
20253855468718240003024000
20263961005718864003086400
20274066542719488003148800
20284172079720112003211200
20294277616720736003273600
20304383153721720003372000
20314488690722404003440400
203245--23148003514800
203346--23892003589200
203447--24936003693600
203548--26220003822000
203649--27204003920400
203750--28728004072800
203851--29952004195200
203952--31176004317600
204053--33000004500000

website www.licindia.in.




Posted by at No comments:
Subscribe to: Posts (Atom)