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LIC - Bima Bachat Table No. 175
Bima Bachat Insurance Policy by LIC ((Table no. 175)) Features of plan: Bima bachat is a single premium money back plan where single premium paid under the policy shall be paid back to the policyholder along with loyalty additions, if any, on maturity. In addition, the survival benefit instalments are payable on survival of the policyholder till the specified durations. The plan also provides the payment of sum assured in case of death during the term of the policy irrespective of whether of not any survival benefits, have been paid earlier. No rider benefits shall be available. Loyalty additions: this is a participating plan and the policy shall participate in the profits of the corporation's with-profit assurance business. The policy shall, however not be eligible for reversionary bonus and all shall participate to a share of profits in the form of loyalty addition (one time) only payable on maturity. On the life assured surviving the stipulated date of maturity, the policy may be eligible for payment loyalty addition, if any, depending upon the experience of the corporation at such rate and on such terms as may be declared the corporation. Plan parameters Age at entry: Min.15 yrs Completed Max 66 yrs Maturity age: Max. 75 yrs (NBD) Term: 9,12 or 15 yrs. Sum assured: Min. 20,000 Max. No. Limit S.A in multiples: 5,000 Mode of payment: Single premium Policy loan: yes Housing loan: yes Assignment: yes Surrender of policy: yes.
LIC- Jeevan Anand T-149
Features of plan Jeevan Anand plan is the combination of whole life policy and endowment insurance policy the plan provides the per-decided S.A. and bonus at the end of the stipulated PPT, but the risk cover on the life continues till death. This policy is suitable for the people of all ages and social groups. The policyholder will be benefited by giving protection to 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 be payable at the end of the endowment term where it can be invested in an annuity provision for the rest of the policyholder's of this plan is moderate premiums, high liquidity, saving oriented. Premiums are usually payable for the selected term of years or until death if it occurs during the term period. Accident benefit is available during engaged in hazardous occupations attracting occupational extra. Plan parameters Age at entry: Min.18 yrs Max. 65 yrs. PPT maturity age: Max. 75 yrs Sum assured: Min. 1,00,000 Max. No. Limit S.A. in multiples: 5000 Term: Min.5 yrs Max. 57 yrs Mode of payment: YLY/HLY/QLY/SSS/MLY Accident benefit: Incl. in. T.P. Policy loan: yes Housing loan: yes Assignment: yes Revival: yes Surrender of policy: yes Term rider: N.A. CIR: yes.
Lic Jeevan Saral T-165
Jeevan Saral Life Insurance Policy by LIC (Table No. 165) Feature of plan: This plan contains good feature of the conventional plans and the flexibility of unit linked plans. It provides higher cover, smooth return, liquidity and considerable flexibility. In this plan one has to choose the premium he wants to pay whereas in normal plans one chooses the S.A. under this plan death cover will be same irrespective of age at entry and term. The sum payable at maturity however differs for different entry age and terms. This plan is very appropriate for employees seeking life cover through salary savings schemes. Surrender value: the policy can be surrender after it has been in force for at least 3 full years. The surrender value will be the greater then guaranteed surrender value or special surrender value as given below: Guaranteed surrender value (GSV): the GSV will be equal to the 30% of the total amount of premium paid excluding the premium for the first year and all the extra premiums and premium for accident / term riders. Maturity sum assured (MSA): has to be calculated on the basic premium only, before mode rebate & death accident benefit. Death benefit S.A. will be 250 times the monthly basic premium. To arrive at DAB we have to calculate death benefit S.A. E.G. if yearly premium is Rs.6000 The death benefit S.A. = 6000/12 x 250 = 1,25,000 for this DAB will be Re.1per thousand which come out to be Rs.125 Plan parameters Age at entry: Min.12 yrs (completed) Max. 60 yrs (NBD) Maturity age: Min.70 yrs Term: Min.10 yrs Max. 35 yrs Min. premium Age 12 to 49:Rs.250 P.M Age 15 to 60: Rs.400 P.M Max. Premium: No. Limits Premium in Multiples: Rs.50 P.M. Mode of payment: YLY/ HLY/ OLY/ SSS Accident benefit: Re. 1extra per (Max. 50 Lac inclusive all plan).
To,Hem Chand Gupta