LIC Jeevan Tarun is an endowment plan which aims to secure children’s future for higher education and other needs. The plan offers flexibility with regards to payment disbursement options with different percentages of pay-outs. The plan has been well customized with eligibility for bonus additions to help the fund grow and waiver of premium benefit rider to give protection for a child’s future if the proposer of the policy dies during payment paying term. Features of the policy – (Table 834) It an endowment plan which offers protection as well as saving features for children. The maturity benefit age is […] READ MORE

LIC’s Aadhaar Stambh Plan offers dual benefit of protection and savings. This policy is exclusively designed for male lives having Aadhaar Card issued by UIDAI (Unique Identification Authority of India). This policy provides financial support for the family in case of unfortunate death of the policyholder any time before maturity and a lump sum amount at the time of maturity for the surviving policyholder. Features of this policy – (Table 843) This plan is only for males who have Aadhaar Card. It is a low premium policy. Premium Paid is exempted from tax u/s 80C of Income Tax Act, 1961. […] READ MORE

LIC Jeevan Rekha is a Money-Back Whole Life plan. It provides financial protection against death throughout the lifetime with regular flow of survival benefits at five-yearly intervals. Features of this policy – One can pay the premium in one lump sum (single premium) and may choose premium paying terms such as 5, 10, 15, 20, 25 years or for life. The premium can be paid monthly, quarterly, half-yearly or yearly. Minimum and Maximum sum assured on this policy is Rs 2 lacs and No limit. Benefits of the policy – Survival Benefits – This policy offers a survival benefit of […] READ MORE

LIC’s Bima Diamond plan offers dual benefits of protection and savings. In case of the unfortunate death of the policyholder, this policy will provide financial support for the family not only during the policy term but also beyond the policy term during the Extended Cover Period (equal to half of the policy term and beginning from the date of maturity). Features of this policy – (Table 841) The policy is Money Back Plan with tenure of 16, 20 & 24 years. Regular payouts are made every 4 years depending on the policy term. An additional bonus to be paid at […] READ MORE

LIC’s Jeevan Utkarsh is a non-linked, close-ended single premium, with profit- life insurance plan. It offers a combination of protection and savings wherein the risk cover is ten times of Tabular Single premium. The policyholder will have an option to choose the Basic Sum Assured. The single premium payable shall depend on the chosen Basic Sum Assured and age at the entry of the policyholder. Features of this policy – (Table 846) Single-Premium Endowment Plan with a fixed tenure of 12 years Loyalty Additions to be paid on maturity of the policy. The loan facility is available against this policy. […] READ MORE

LIC’s Limited Premium Endowment Plan is an endowment plan with a limited premium facility. This plan offers a dual benefit of protection and savings. This plan provides financial support for the family in case of unfortunate death of the policyholder any time before maturity. A lump sum amount is given to the policyholder who survives till the end of the maturity period. Features of this policy – (Table 830) It is an endowment plan with a limited premium facility. The loan facility is available against this policy. Rider Benefit is available on additional premium. On the death of the policyholder, […] READ MORE

LIC’s Jeevan Rakshak Plan is a simple endowment plan which offers a dual benefit of protection and savings. This plan provides financial support for the family in case of unfortunate death of the policyholder any time before maturity. If the policyholder survives till the end of the maturity period, then the policyholder will get a lump sum amount at the time of maturity. Features of this policy – (Table 827) It is an endowment plan which offers the dual benefit of protection and savings. Maturity Benefit is paid to the policyholder if the policyholder survives till the end of the […] READ MORE

LIC New Bima Kiran Policy is a premium back term assurance plan that provides financial protection against death throughout the term of plan together with a return of premiums paid at maturity. Features of the policy – (Table 150) Premiums can be quarterly, half-yearly and yearly throughout the term of the policy. Rider Benefit is available Maximum Risk covers up to Rs 10 lacs with minimum premium. Free insurance cover after maturity for a period of 10 yrs. Term of the policy 25 yrs Free Risk Cover (depending on term) for 10 yrs after maturity. Benefits of the policy – […] READ MORE

LIC’s Jeevan Lakshya is a participating non-linked plan which offers a combination of protection and savings. This plan provides for Annual Income benefit that may help to fulfill the needs of the family, primarily for the benefit of children, in case of unfortunate death of Policyholder any time before maturity and a lump sum amount at the time of maturity irrespective of survival of the Policyholder. This plan also takes care of liquidity needs through its loan facility. Features of this policy – (Table 833) Minimum and Maximum sum assured is Rs 1 lacs and no limit. The policy term […] READ MORE

LIC’s Jeevan Shiromani plan offers a dual benefit of protection and savings. This policy is specially designed for High Net-worth Individuals. Financial support for the family in case of unfortunate death of the policyholders is provided during the policy term. If the policyholder survives at specified duration during the policy term, then Periodic payments shall also be paid. And a lump sum payment to the surviving policyholder at the time of maturity will be paid. In addition, this plan also provides for payment of a lump sum amount equal to 10% of the chosen Basic Sum Assured on the diagnosis […] READ MORE