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LIC Agent Bengaluru

Residency Road, Bengaluru, Karnataka

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We are LIC's Officially authorised & recognised IRDA certified LIC Agent / Advisor in Bangalore since 18 years, providing Professional & value based Insurance services to our esteemed clients not only in Bangalore, but across India & Globally (NRI clients). We provide continuously ONLINE & OFFLINE support to our clients right from choosing the plan, Opening of LIC policy to till maturity claim settlement. We have 1000+ happily satisfied customers from all walks of life from India and abroad. We just don't sell policies, We provide need based solutions according to the individual need of the customers. We are best known for our professional approach and honest advice. We feel happy and privileged to meet our clients at given point of time, which makes as easily accessible to our clients. We have many Awards & achieved many laurels & honours in LIC, by achieving highest recognition among the Advisors in LIC and also internationally. We are rated among top Agents / Advisors in Bangalore Come join and be a part of us+ Read More

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HUF Insurance Policy Services
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A Hindu Undivided Family, which is also known as Joint Hindu Family is governed by Hindu Law.

An HUF consists of all persons lineally descended from a common ancestor and have not separated and include their wives and unmarried daughters. The head of the family is called ‘Karta’ who is solely responsible for all the affairs of the family. The members of the family are called co–parceners who acquire interest in thefamily by birth. Co–parceners are admitted to the benefits of the family, but they are not liable to the commitment of HUF during their minority.

In view of the separate legal provisions especially in income tax law, the HUF has important significance in life insurance –LIC insurance policy is taken by the Karta on his life or on the lives of co–parceners. where under premiums are financed by HUF funds. As per the law relating of HUF, all income earned with the property of HUF, shall belong to HUF. As such where policies are taken on the lives of members of HUF and premiums thereunder are paid out of HUF funds, insurance amount when due would belong to HUF and it becomes a part of assets of HUF. However, under policies effected by the co–parceners. on their own lives and where under premiums are paid out of their own separate income, policy moneys when due become the part of the estate of the lives assured. It is also important to note that neither the Karta of HUF nor any member thereon can take out policies on their own lives for their own benefits or for the benefit of their dependants and finance them to the detriment of joint family funds. If, therefore, policy is financed through HUF funds irrespective of contractual positions enumerated in the policy document, with regard to the title thereto, the policy would belong to HUF entirely and as such the policy moneys would be payable only to the Karta of HUF who represents HUF as Manager. However, a member of HUF can take a policy on his own life for the benefit of his immediate family, provided the premiums thereunder are not paid from HUF funds.

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NRI Insurance Service
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NRI Insurance Service

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Definition of Non-Resident Indian for the purpose of Insurance

  1. A citizen of India temporarily residing in the country of his / her present residence.
  2. Must be holding a valid passport issued by Govt. of India.
  3. Should not be a green card Holder or applied for or planning to apply in near future for acquiring citizenship of other country.
  4. Foreign nations of Indian origin are not to be treated as NRIs
Conditions:
  1. NRIs can be allowed insurance:
    1. On their visit to India – insurance cover is canvassed in India and all formalities regarding filling in the proposal forms, obtaining medical examination report /special medical reports and Moral Hazard Report are completed during their stay in India.
    2. From their present country of residence – known as MAIL ORDER BUSINESS –where all or some of the formalities regarding filling in the proposal forms,obtaining medical and special reports are completed in their present country of residence.
  2. Minimum Sum Assured:
    1. No minimum sum assured,if insurance is allowed on their visit to India.
    2. For Mail Order Business, minimum basic sum assured of Rs.10 lacs. Sum assured over Rs.10 lacs will be in multiple of Rs.one lac..
  3. Maximum Rated Up Sum Assured:
    1. For NRIs residing in countries falling under Residence:
      1. Group V: No restriction on visit to India,Rs.3 Crores under mail order.
      2. Group IV: Rs.2.50 Crores
      3. Group III: Rs.1.50 Crores
      4. Group II : Rs. 25 lakhs
      5. Group I: Rs. 10 lakhs
  4. Types of cover:
    1. For NRIs residing in countries falling under Residence Group V
      1. All plans except CI rider will be allowed when all formalities are completed in India on the NRIs’ visit to India.
      2. All plans except CI rider will be allowed under Mail Order Business (i.e., where all formalities are completed in the NRIs’s present country of residence), subject to following restrictions:
      3. Maximum SA under pure Term Insurance Plans and Term Rider ( Both Inclusive) – Rs. 25 lacs

    2. For NRIs residing in countries falling under Residence Group III & IV Pure term insurance plans (Plan 822 and 823), Term rider and CI rider will not be allowed.
    3. For NRIs residing in countries falling under Residence Group I and II Only Single Premium Plans with Max Term/ Deferment period of 15 years are allowed.( Plans 816,817 and 818).
  5. Non - Medical Special Scheme:

    (Cir: U&R/22/2008 dt. 02/09/2008, U&R/104 dated 10/03/2014, U&R/109 dated 05/06/2014)

    Major males and females Sum Assured (SUC)
    aged upto 35 years:30,00,000
    aged between 36 to 45 years:20,00,000
    aged between 46 to 50 years:10,00,000

    Exclusive Non-Medical Single Premium Scheme and Standalone under Bima Bachat Plan:

    Age NBD SUV
    Exclusive SPBima Bachat
    18-3515,00,00020,00,000
    36-5010,00,00010,00,000
    51-603,00,0003,00,000

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LIC Endowment Plan Services
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  • New jeevan anand plan
  • Jeevan labh plan
  • Jeevan lakshya plan
  • Jeevan pragati plan
  • Jeevan rakshak plan
  • Limited premium endowment plan
  • New endowment plan

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LIC Money Back Plan Services
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  • Bima diamond plan
  • New bima bachat plan
  • New money back plan - 20 years
  • New money back plan - 25 years

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LIC Child Plan Services
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LIC Child Plan Services

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  • jeevan tarun plan
  • new children's money back plan

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LIC Single Premium Plan Services
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  • Jeevan akshay vi plan
  • New bima bachat plan
  • Single premium endowment plan

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LIC Term Plan Services

LIC Term Plan Services

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LIC Pension Plan Services
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