Archive | LIC

LIC JEEVAN VAIBHAV

May 10th, 2012No Comments

LIC JEEVAN VAIBHAV (Plan no 809) is the upcoming plan from LIC of INDIA to be launched on 21st MAY 2012. LIC Jeevan VAIBHAV is a non-linked single premium endowment assurance plan which provides for payment of Sum Assured on maturity or on death. Loyalty addition, is also payable on death during the last policy year or on maturity. LIC Jeevan Vaibhav is a close ended plan which would be open for sale from 21st May, 2012 for a maximum period of 120 days.

The benefits and other details of LIC JEEVAN VAIBHAV are given below :

a) Death Benefit:

  • On death during the policy term, excluding last policy year: Sum Assured shall be payable
  • On death during the last policy year: Sum Assured along with Loyalty Addition, shall be payable.

b) Maturity Benefit:

  • On maturity, the Sum Assured along with Loyalty Addition, shall be payable.

Eligibility Conditions and Restrictions in LIC Jeevan Vaibhav

  • Minimum Entry Age : 8 years (completed)
  • Maximum Entry Age : 65 years (nearest birthday)
  • Mode of Premium Payment : Single premium
  • Minimum Sum Assured : Rs.2,00,000/-
  • Maximum Sum Assured : No Limit
  • Policy Term : 10 years

For Personalized presentation of LIC Jeevan Vaibahv please fill the below form:

LIC Jeevan Arogya

May 24th, 2011130 Comments


Health has been a major concern on everybody’s mind, including yours. In these days of skyrocketing medical expenses, when a family member is ill, it is a traumatic time for the rest of the family. As a caring person, you do not want to let any unfortunate incident to affect your plans for you and your family. So why let any medical emergencies shatter your peace of mind,get yourself a Health Insurance Policy like LIC Jeevan Arogya and you and your family can rest assured.Get yourself a personalized presentation of LIC Jeevan Arogya by proving your email id. Jeevan Arogya Premium details are given at the end.List of Surgeries covered in LIC Jeevan Arogya has been uploaded in the end

LIC Jeevan Arogya Health Insurance Plan

LIC Jeevan Arogya (Plan No. 903), a unique non-linked Health Insurance plan from LIC of INDIA which provides health insurance cover against certain specified health risks and provides you with timely support in case of medical emergencies and helps you and your family remain financially independent in difficult times.List of Day Care Surgeries (140 Surgeries) covered in LIC Jeevan Arogya would soon uploaded.

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LIC Jeevan Arogya features at glance:

  • Valuable financial protection in case of hospitalization, surgery etc
  • Increasing Health cover every year
  • Lump sum benefit irrespective of actual medical costs
  • No claim benefit
  • Flexible benefit limit to choose from
  • Flexible premium payment options
  • Spouse, Children, Parents and Parents-in-law can also be covered under the same policy
  • Term Assurance Rider and Accident Benefit Rider available

LIC Jeevan Arogya benefits :

  • Hospital cash benefit (HCB)
  • Major Surgical Benefit (MSB)
  • Day Care Procedure Benefit
  • Other Surgical Benefit
  • Ambulance Benefit
  • Premium waiver Benefit (PWB)

All the benefits, inclusions and exclusions would be provided in personalized presentation.

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Who can be insured?

You (as Principal Insured (PI)), your spouse, your children, your parents and parents of your spouse can all be insured under one policy.Quite a relief isn’t it, to have all insured under one policy.
The minimum and maximum age at entry is as under:

LIC JEEVAN AROGYA PREMIUM DETAILS:

Jeevan Arogya Premium Details

List of Surgeries Covered in Jeevan Arogya:

Jeevan Arogya Diseases Covered

Jeevan Arogya Surgeries Covered

List of Surgeries Covered in LIC Jeevan Arogya

List of Surgeries Covered in LIC Jeevan Arogya


Time to Prioritise your family’s insurance needs

Jan 9th, 2011No Comments

A Sunday is a relaxing day. A late morning, sipping a cuppa tea and reading the morning newspapers — especially the glossies. Love the advertisements in those — the latest gadgets, that fancy car.

Yes, the products are all very good, but we don’t end up buying most of them. Even if we are genuinely interested, we like to research, check around or talk to friends. We do not buy everything that is advertised repeatedly. But when it comes to insurance, we are pressurized by that persistent, glib-talking salesman, as we believe that the product on offer is the one made with only us in mind.

No wonder, I know more people who complain about their insurance than those who crib about their cars. Come to think of it, insurance will possibly last longer than their vehicle.

My family’s needs, not mine: Insurance should be considered as a protection against risk, and you must focus on the sum assured of the policies you have. How much insurance do I really need? That’s an odd question to answer, as the benefits of life insurance accrue to my loved ones, and not me.

Don’t forget to rephrase the question to cover your family’s needs. If I have a home loan for the apartment I live in, I must buy term insurance for the outstanding amount of the loan right away, and, in addition, consider the regular expenses that my family is dependent upon me for.

Calculating expense & liability protection: Let us consider a working example. You, aged 35 years, have a home loan of Rs 40 lakh with an EMI of Rs 40,000 per month for the next 18 years, and your family is dependent on you for living expenses of Rs 5 lakh annually.

The calculation of funds required by your family in the case of your demise will depend upon future rates of inflation and expected returns on the investments from the pool comprising insurance proceeds and other investments available. The assets required rapidly climb if inflation rates nudge up by 1% every year, and returns drop by an equal amount. If we were to consider requirements of the family to age 85 years in this example, the assets needed today spiral up dramatically.

Remember this does not cover other future goals (child’s education and the like) that may be aspirations of your family. Move on your life insurance right away.

Next Sunday, you can be even more relaxed browsing the newspapers and eying that latest gadget.

LIC Infrastructure Bonds

Nov 21st, 2010No Comments

If you  are a tax payer then you can save more tax by investing in LIC Infrastructure Bonds.  Additional Rs.20,000 Tax Exemption under Section 80CCF.Moreover, LIC infrastructure bonds offer stability of fixed returns and are reasonably safe.

Highlights

  • Term: 10 years
  • Minimum lock in period: 5 years
  • Loan on Bond: After 5 years
  • Interest Rate: 7.85%-7.95% after tax.
  • Exit options: Buy back or through Demat account
  • Open for Individual or HUF.

Any individual or HUF can invest in LIC’s Infrastructure Bonds Between Rs.5000 – Rs.20,000/- This will be over the Rs.1 lakh deduction allowed under Section 80C.

Tax Benefit example:
If you are in highest tax payers bracket of 30% can save an additional Rs 6,000 and if you happen to fall in the lower tax bracket then you can still save Rs.2,000/- by investing in LIC infrastructure bonds this financial year.

LIC INFRASTRUCTURE BONDS  not only offers capital safety but also offers fixed returns through ECS.

Term:
The infrastructure bonds will have a maturity of 10 years and lock-in period of 5 years.

After lock in period is over, you can ask issuer (LIC) to buy back bonds Or you can trade these bonds in stock Exchange.

You should have a Demat account to invest in infrastructure bonds.This bond will boost the infrastructure projects in India and at the same time you will get tax benefit and good return. So help India grow.

LIC is expected to issue the infrastructure bonds with insurance cover to differentiate it from other infrastructure bonds.

Note:
The above is the product summary giving the key features of the Bond. This is for illustrative purpose only. This does not represent a contract and for details please refer to your policy document.

How to Apply for LIC Infrastructure Bond?
The infra bonds from LIC are yet to be launched. Enter your Email below and we will update you once the bonds  are available:

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