LIC POLICY LIST
Jeevan Anand Lic Policy Jeevan Anand Lic Policy
Jeevan Anurag Lic Policy Jeevan Anurag Lic Policy
Jeevan Kishore Lic Policy Jeevan Kishore Lic Policy
Image Brightness & Contrast Jeevan Chhaya Lic Policy
Jeevan Saral Lic Policy Jeevan Saral Lic Policy
Jeevan Mitra 2 Lic Policy Jeevan Mitra 2 Lic Policy
Jeevan Mitra 3 Lic Policy Jeevan Mitra 3 Lic Policy
Jeevan Tarang Lic Policy Jeevan Tarang Lic Policy
Komal Jeevan Lic Policy Komal Jeevan Lic Policy
Market Plus I Lic Policy Market Plus I Lic Policy
Child Career Plan Lic Policy Child Career Plan Lic Policy
Child Future Plan Lic Policy Child Future Plan Lic Policy
Jeevan Bharati Lic Policy Jeevan Bharati Lic Policy
Money Plus-I Lic Policy Money Plus-I Lic Policy
New Bima Gold Lic Policy New Bima Gold Lic Policy
Amulya Jeevan-I Lic Policy Amulya Jeevan-I Lic Policy
Group Insurance Lic Policy Group Insurance Lic Policy
Bima Bachat Lic Policy Bima Bachat Lic Policy
Bima Nivesh Lic Policy Bima Nivesh Lic Policy
Money Back Policy-20 Money Back Policy-20
Money Back Policy-25 Money Back Policy-25
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 

 

1. Magic Plan – Retire and Enjoy

Magic-Plan Retire & Enjoy is a combination of LIC plans specially researched to meet the objective of securing a financially independent life for yourself and your spouse on retirement.

The benefits shown in this presentation have been calculated on the basis of interim bonuses declared by LIC for the year ended 31-Mar-2009. Actual results may deviate depending on the future bonuses declared by LIC.

Loan calculation is done on the basis of present surrender value rates.

Please download the attached PDF.

For example:

In this Insurance proposal you will need to make premium payments of Rs.39,911/- p.a. from your own funds till your age of 53 years (In this example your age is 24).

In the year 2040 when you will be 54 years of age, you will start receiving annual tax free amount of 3,76,304/- ( 3.76 Lakhs) every year from LIC till 75 years of your age.

The total amount received from LIC will be 83,82,914/- ( 83.82 Lakhs).

This proposal provides a high risk cover of Rs.14,98,640/- (Nearly 15 Lakhs) starting at age 24 and growing to Rs.5450200/- at age 54.

Please Note: The Magic Plan is a group of LIC Policy’s for getting maximum returns + high risk cover.

In our above example, four LIC Policy’s with a total sum assured 14.3 Lakhs is taken as shown below.

1) 7,50,000/- ( Seven lakh fifty thousand rupees)
2) 4,75,000/- ( Four lakh seventy five thousand rupees)
3) 1,10,000/- ( One lakh ten thousand rupees)
4) 95,000/- ( Ninty five thousand )

 2. Jeevan Tarang

Features:
Introduction:
This is a with-profits whole of life plan which provides for annual survival benefit at a rate of 5½ % of the Sum Assured after the chosen Accumulation Period. The vested bonuses in a lump sum are payable on survival to the end of the Accumulation Period or on earlier death. Further, the Sum Assured, along with Loyalty Additions, if any, is payable on survival to age 100 years or on earlier death.

Accumulation Period :
The plan offers three Accumulation periods – 10, 15 and 20 years. A proposer may choose any of them.

Payment of Premium:
Premiums can be paid regularly at yearly, half-yearly, quarterly or monthly intervals or through salary deductions over the Accumulation Period. Alternatively, a Single Premium can be paid on commencement of a policy.

Sample Premium Rates:
The tables below provide tabular premiums for various age-term combinations for Rs. 1000/- Sum Assured.

Please download the attached PDF.

For example:

Smt. Lakshmi takes Jeevan Tarang policy for a sum assured of 5,00,000/- and her age is 26 now.

Smt Lakshmi needs to pay 52,334/- yearly for the next 10 years. On 10th year she will get 2,00,000/- from LIC of INDIA and from 11th year onwards Smt Lakshmi will get 27,000/- every year till her life time.

Note: There are also Single, Yearly, Half Yearly, Quarterly, Monthly options for premium payments based on once comfort level.

3. Magic Plan - Secure Child.

Features:

Introduction:

Magic Plan — Secure Child is a combination of LIC Plans specially researched to meet the objective of securing your child’s future.

The returns shown in this illustration have been calculated on the basis of the interim bonus rates last declared by LIC for the year ended
31-Mar-2009. Actual results may deviate depending on future bonuses declared by LIC,

In the unfortunate event of your early death, the premiums on the policies will cease immediately. The returns, however will be received in the
years as indicated in this MagicPlan.

 Please download the attached PDF.

For example:

In this LIC Proposal. Mr Santosh wants to secure the future of his child Master Anand.

Mr Santosh needs to pay 45,719/- for the next 16 years. From 16th year onwards Mr Santosh will receive the below
benefits as shown below.

Year

Age

Estimated Amount from LIC to Mr Santosh.

2026

16

2,77,044/-

2027

17

1,33,981/-

2028

18

1,41,169/-

2029

19

1,48,149/-

2030

20

1,54,942/-

2031

21

1,72,919/-

2032

22

5,44,840/-

The total amount received from LIC OF India will be 15.73 Lakhs in the above policy.

 

4. JEEVAN ANAND

Product summary:
This plan is a combination of Endowment Assurance and Whole Life plans. It provides financial protection against death throughout the lifetime of the life assured with the provision of payment of a lump sum at the end of the selected term in case of his survival.

Premium:
Premiums are payable yearly, half-yearly, quarterly, monthly or through salary deductions as opted by you throughout the selected term of the policy or till earlier death.

Bonuses:
This is a with-profit plan and participates in the profits of the Corporation’s life insurance business. It gets a share of the profits in the form of bonuses. Simple Reversionary Bonuses are declared per thousand Sum Assured annually at the end of each financial year.  Once declared, they form part of the guaranteed benefits of the plan. Bonuses will be added during the selected term or till death, if it occurs earlier. Final (Additional) Bonus may also be payable provided the policy has run for certain minimum period.

Please download the attached PDF.

For example:

Mr Sunil takes Anand policy for a sum assured of 5,00,000/- ( 5 Lakhs) and his age is 26 now.

Mr Sunil needs to pay 25,319/- for the next 21 years. On the 21st year ( Mr Sunil age will be 47 then) will get a lump sum amount of 11,67,500/- ( 11.67 Lakhs) from LIC OF India.

Plus a free Risk cover for amount 500,000/- (5 Lakhs) till his life time.

Plus a free additional accidental cover from 2031 (21st year) to 2054, when Mr Sunil reaches 70 yrs

 
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