Tuesday, March 3, 2015


LIC's New Children Money Back Plan (Table No 832)


It has been decided to introduce LIC’s NEW CHILDREN’S MONEY BACK PLAN (Plan No.832), which would be open for sale from 4th March, 2015. 

The Unique Identification Number (UIN) for LIC’s New Children’s Money Back Plan is 512N296V01.This number has to be quoted in all relevant documents furnished to the Policyholders and other users (public, distribution channels, etc.). 

LIC’s New Children’s Money Back Plan is a non-linked, with-profits, regular premium payment money back plan specially designed to meet various financial needs of children through Survival Benefits. It provides for the risk cover on the life of child during the policy term and number of survival benefits on surviving to the end of the specified durations. The benefits and other details of the plan are given below.

2.    Benefits:

The benefits payable under an inforce policy are as under:
a)    Death Benefit

 On death Before the Date of Commencement of Risk:
An amount equal to the total amount of premium/s paid excluding taxes, extra premium and rider premium, if any shall be payable.

On death After the Date of Commencement of Risk:
Death Benefit, defined as sum of “Sum Assured on Death” and vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable. Where “Sum Assured on Death” is defined as higher of 10 times of annualized premium or Absolute amount assured to be paid on death i.e. Basic Sum assured. This death benefit shall not be less than 105% of the total premiums paid as on date of death. 

The premiums mentioned above exclude tax, extra premium and rider premium, if any.

b)    Survival Benefit : On the Life Assured surviving on each policy anniversary coinciding with or immediately following the completion of ages 18 years, 20 years and 22 years of Life Assured,  20% of the Basic Sum Assured on each occasion shall be payable provided the policy is in full force. 

c)    Maturity BenefitOn the Life assured surviving the stipulated date of maturity, Sum Assured on Maturity (which is 40% of the Basic Sum Assured) along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable.

d)    Participation in profits:
Depending upon the Corporation’s experience the policies shall participate in the profits and shall be eligible for Simple Reversionary Bonus at such rate and on such terms as may be declared by the Corporation.                                                            

Final Additional Bonus may also be declared under the policy which will be payable on the expiry of the policy term or on earlier death, provided the policy has run for certain minimum term.

3.    Option to defer the Survival Benefit(s): 
The policyholder will have the option to take the survival benefit (s) at any time on or after its due date but during the currency of the policy. In case of deferment of a due survival benefit(s) opted by the policyholder, the Corporation will pay increased survival benefit (s) equal to 

Survival Benefits % * Sum Assured * Factor applicable to Survival Benefit (s) 

These factors are enclosed as Annexure - I                                                     

This option shall be required to be intimated by the policyholder six months before the due date of the Survival Benefit (s) in writing. 

4.    LIC’s Premium Waiver Benefit Rider (UIN: 512B204V01)
LIC’s Premium Waiver Benefit Rider is available on payment of additional premium. This rider can be opted for along with the basic plan at the inception or at any time during the policy term provided the outstanding policy term of the basic plan is at least 5 years. 

a)  If this rider is opted for, in case of death of the proposer, the payment of the premiums falling due after the date of death shall be waived;  

b)  The Premium Waiver Benefit shall be granted on the basis of the proposer's age, personal declaration and other related documents. In case it is found that any untrue or incorrect statement is contained therein or any material information is withheld, then and in every such case but subject to the provisions of Section 45 of the Insurance Act, 1938, as amended from time to time, all claim to the benefit shall cease and determine; 

c)  The Premium Waiver Benefit shall not operate if the proposer (whether sane or insane) commits suicide within 12 months from the date of issuance of First Premium Receipt or within 12 months from the date of revival; 

d)  The additional premium shall not be taken into account in arriving at the amount to be refunded in the event of death of the Life Assured before the date of commencement of risk and in calculating the surrender value of the policy; 

e)  The medical report and special reports, if required, at proposal stage or on revival, shall be at the proposer’s own expense from the Corporation's appointed Medical Examiner; 

f)   The revival of the rider will be considered along with the revival of the basic policy. The rider can be revived at any time but within a period of two consecutive years from the due date of the said unpaid premium or before the date of expiry of policy term, whichever is earlier subject to evidence of health and habits of the proposer to the satisfaction of the Corporation 

g)  The Premium Waiver Benefit shall cease to apply if policy is in lapsed condition; 

5.    Eligibility Conditions and Restrictions:

For Basic Plan 

(a)    Minimum Age at entry for Life Assured : [0] years (last birthday) 

(b)    Maximum Age at entry for Life Assured :[12] years (last birthday)  

(c)    Policy Term                                             : [25 – Age at entry] years 

(d)    Minimum/Maximum Maturity Age          : [25] years 

(e)    Minimum Basic Sum Assured                : Rs. [100] in ‘000’s 

(f)     Maximum Basic Sum Assured              : No Limit 

The Basic Sum Assured shall be in multiples of Rs. 10,000/- 

Date of commencement of risk under the plan:        
In case the age at entry of the Life Assured is less than 8 years, the risk under this plan will commence either one day before the completion of 2 years from the date commencement of policy or one day before the policy anniversary coinciding with or immediately following the completion of 8 years of age, whichever is earlier. For those aged 8 years or more, risk will commence immediately. 

Date of vesting under the plan: 
The policy shall automatically vest in the Life Assured on the policy anniversary coinciding with or immediately following the completion of 18 years of age and shall on such vesting be deemed to be a contract between the Corporation and the Life Assured.

For LIC’s Premium Waiver Benefit (PWB) Rider – optional: 

(a)  Minimum Entry Age                                  : [18] years (completed)

(b)   Maximum Entry Age                               : [55] years (Nearer Birthday)

(c)   Premium paying term                             : Same as basic plan  

(d)    Maximum cover ceasing age              : [70] years (Nearest Birthday) 

6.    Mode of Premium Payment :
The modes of premium payment allowable are Yearly, Half Yearly, Quarterly, and Monthly [ECS only or through salary deductions (SSS)].

7.    Premium Rates:

8.    Grace Period for Payment of Premium:
A grace period of one month but not less than 30 days will be allowed for yearly, half-yearly, quarterly modes and 15 days for monthly mode of premium payment. 
If death of the Life Assured occurs within the grace period but before the payment of premium then due, the policy will be treated as inforce and the benefits will be paid after deductions of the said unpaid premium as also the unpaid premium/s falling due before the next anniversary of the policy.
If the premium is not paid before the expiry of the days of grace, the policy lapses.                                                                 
If the policy has not lapsed and the claim is admitted in case of death under the policy where the mode of payment of premium is other than yearly, unpaid premium(s), if any, falling due before the next policy anniversary shall be deducted from the claim amount. 
The above grace period will also apply to rider premium as the rider premium is to be paid along with Basic Premium.
9.    Rebates:

Mode Rebate:
Yearly mode                             : 2% of tabular premium
Half-yearly mode                     : 1% of tabular premium
Quarterly and monthly                         : NIL


High Sum Assured Rebate:


Basic Sum Assured                  Rebate (Rs.)

1,00,000 to 1,90,000                 Nil

2,00,000 to 4,90,000                 2 per thousand Basic Sum Assured

5,00,000 and above                  3 per thousand Basic Sum Assured


10.  CEIS Rebate:

If an employee of the Corporation has taken the plan for the benefit of his/her child/children then he/she shall be eligible for a rebate on tabular premium under Corporation’s Employee Insurance Scheme (CEIS) provided policy is not taken through any Agent/ Corporate Agent/ Broker/ Direct Sales Executives etc and are as under:


Policy Term                   CEIS Rebate

13 and 14 years                        5%       

15 years & above                     10%


This rebate shall be applicable for both basic plan as well as on rider premium if opted for.

Wednesday, August 20, 2014

Best Tax saving plans from LIC of India

Hi, We offer free financial planning session to our customers, If you are looking for a tax saving policy kindly visit us here....


Friday, July 25, 2014

Difference Between Life Insurance and Bank Fixed Deposit

New Investors always get confused about which investment they should choose, Here are some tips for new investors, so they can get quickly idea to choose good investment tool.

Bank Fixed Deposit : Several banks and Non Banking Financial Centers provides fixed deposit, Fix Deposit is the deposit for a period of time on fixed interest rate.

Difference Between Fixed Deposit and Life Insurance investment plans : 

Fixed Deposits: 

These are a few components investors ought to remember while putting resources into long haul bank fixed stores: 
Taxable returns : Investors ought to look at different investment streets in the wake of considering the tax component. Premium salary is taxable in the hands of the financial specialist while profit wage is most certainly not. 
To comprehend the distinction , let us accept that the returns from a fixed store and a few shares are 10 for every penny for 2011. For an individual in the most elevated tax section the returns from a fixed store are just 6.7 for every penny while the returns from shares are 10 for every penny. 
For this situation, it doesn't bode well for the financial specialist to put resources into fixed stores regardless of the possibility that the investment rate is the most astounding today. 

Tax Rebate on Deposit:
Under the proposed Direct Tax Code, five-year term stores with banks or post work places, or stores in senior subjects' reserve funds plan and non-unadulterated life insurance premiums will never again be qualified for rebate under Section 80c. The new tax code is required to be executed from April 2012. 
Investors thus have a restricted timeline to put resources into long haul fixed stores that are entitled for rebate. 
The genuine benefits or salary from fixed stores could be abrogated by a climbing expansion rate. Assume the swelling rate is at three for every penny and ascents to six for every penny, and the fixed store rate is 10 for every penny. The yearly returns will successfully be just four for every penny (10 for every penny short six for every penny). The returns would have been seven for every penny (10 for every penny less three for every penny) if the rate of expansion had not changed. 
In nations, for example, the US, investors have a decision of swelling balanced bonds. The investment returns on these bonds are balanced upwards or modified downwards focused around the underlying swelling number. Investors here, however , need to sit tight for fixed wage markets to develop before such decisions are made accessible to them. 

Tax deducted at source :
Not at all like profits, premium got from fixed stores is taxable in the hands of the collector, and henceforth tax is deducted by the bank after a limit. The bank considers the wage earned by the investor work the end of a money related year and after that deducts the tax on it. 

Life Insurance -

Preferences of Life Insurance 
  • Risk Cover - Life today is loaded with vulnerabilities; in this situation Life Insurance guarantees that your friends and family keep on appreciating a decent personal satisfaction against any unforeseen occasion. 

  • Making arrangements for life stage needs - Life Insurance not just accommodates fiscal backing in the occasion of awkward passing additionally goes about as a long haul investment. You can meet your objectives, be it your kids' instruction, their marriage, assembling your fantasy home or arranging a loose resigned life, as indicated by your life stage and danger hankering. Conventional life insurance strategies i.e. conventional blessing arrangements, offer in-fabricated sureties and characterized development benefits through assortment of item alternatives, for example, Money Back, Guaranteed Cash Values, Guaranteed Maturity Values. 

  • Insurance against climbing well being costs - Life Insurers through riders or remain solitary well being insurance arrangements offer the benefits of assurance against discriminating illnesses and hospitalization costs. This benefit has expected basic significance given the expanding frequency of lifestyle ailments and heightening medicinal expenses. 

  • Fabricates the propensity of thrift - Life Insurance is a long haul contract where as policyholder, you need to pay a fixed sum at a characterized periodicity. This assembles the propensity of long haul investment funds. Standard reserve funds over a long period guarantees that a good corpus is constructed to help at different life stages. 

  • Sheltered and productive long haul investment - Life Insurance is a profoundly managed area. IRDA, the administrative body, through different tenets and regulations guarantees that the wellbeing of the policyholder's cash is the essential obligation of all stakeholders. Life Insurance being a long haul reserve funds instrument, likewise guarantees that the life guarantors concentrate on returns over a long haul and don't take unsafe investment choices for transient increases. 

  • Guaranteed pay through annuities - Life Insurance is one of the best instruments for retirement arranging. The cash spared amid the acquiring life compass is used to give a relentless wellspring of wage amid the resigned period of life. 

  • Assurance in addition to investment funds over a long haul - Since customary strategies are seen both by the wholesalers and also the clients as a long haul duty; these approaches help the policyholders meet the double need of insurance and long haul riches creation productively. 

  • Development through profits - Traditional strategies offer a chance to partake in the monetary development without taking the investment hazard. The investment wage is disseminated among the policyholders through yearly declaration of profits/reward. 

  • Office of advances without influencing the arrangement benefits - Policyholders have the choice of taking advance against the approach. This helps you help without unfavorably influencing the benefits of the strategy they have purchased. 

  • Tax Benefits-Insurance arrangements give appealing tax-benefits for both at the time of section and passageway under the vast majority of the arrangements. 

  • Contract Redemption- Insurance goes about as a viable device to blanket home loans and advances taken by the policyholders so that, in the event of any unforeseen occasion, the trouble of reimbursement does not fall on the dispossessed crew.

Wednesday, June 11, 2014

LIC Child Shiksha Plan - Complete Child Education Plan Combination

LIC Child Shiksha Plan - Complete Child Education Plan Combination :  It is a complete package to your child which provides you money backs when your children need according to their educational needs. Below is the table which gives you the Idea of Money Backs provided yearly. To know more CLICK Here

Thursday, March 13, 2014

LIC New Anand Money Back Package

To Buy  Click Here Or Call Manish Raghav - 9818837008
Life Insurance Corporation of India Presents:

New Jeevan Anand Money Back Package, this is the combination of three policies, Two New money back Policies and one New Jeevan Anand Policy. It gives you the unique benefits of all three plans, in this package you get regular money back after 4th, 5th, 9th, 10th, 14th, 15th, 19th, 20th, 21st and 25th year. In this plan we backdate one new money back for 20 years to 3 months so this plan gives you money back on different times. Below is the example in the following conditions;

Plan Number Plan Name Sum Assured
815 New Jeevan Anand 150,000
820 New Money Back 20 Years 150,000
821 New Money Back 25 Years 150,000

Below is the premium age wise and Money Backs and Other Benefits

Money Back Chart   Age Yearly Premium Payable
1 After 4 years 30000     1-15 Years 16-20 Years 21 Years
2 After 5 years 22500   21 29863 17404 8265
3 After 9 years 30000   22 29744 17455 8302
4 After 10 Years 22500   23 29805 17503 8333
5 After 14 years 30000   24 29864 17553 8369
6 After 15 years 22500   25 29941 17614 8407
7 After 19 Years 225000   26 30025 17682 8453
8 After 20 years 22500   27 30115 17747 8496
9 After 21 years 423750   28 30205 17822 8541
10 After 25 years 285000   29 30312 17899 8588
        30 30433 17986 8638
        31 30561 18083 8691
Life Insurance   32 30706 18189 8751
1 Natural Death Cover 562500   33 30865 18299 8810
2 Accidental Death Cover 1012500   34 31032 18419 8870
3 Insurance After Maturity 150000   35 31222 18554 8945
        36 31418 18689 9012
        37 31645 18843 9093
        38 31889 19011 9177
        39 32145 19188 9265
        40 32428 19375 9355
        41 32723 19577 9452
        42 33055 19799 9556
        43 33404 20033 9669
        44 33783 20286 9788
        45 34185 20555 9908

Note: Anand Money Back Package is Available till 31st March 2014 only.
To Buy :  Click Here

For More Details : Click Here