New Jeevan Nidhi Plan no. 818

LIC’s New Jeevan Nidhi Plan no. 818 is a deferred annuity plan with bonus. This Plan is a non unit-linked insurance pension plan. Jeevan Nidhi Plan in LIC is purchased to cover the risk of living too long and hence has multiple pension options to cover that risk. This is a regular premium pension plan of LIC. Premium needs to be paid till the end of the accumulation period. In this lic jeevan nidhi plan at the end of the accumulation period, the maturity comprising of the sum assured, increment bonus and the final additional bonus will be converted into pension. After the expiry of the life insured, a lump sum will be paid to the nominee.

Types of Plans in New Jeevan Nidhi

1.  Single Premium: Buying Premium with lump sum amount at once.

2.  Regular Premium: Paying Premium at different intervals such as Yearly, Half-Yearly, quarterly or monthly (through ECS only) or through SSS mode over the term of policy.

LIC's New Jeevan Nidhi

Benefits of New Jeevan Nidhi Plan No. 818:

1.   Guaranteed Additions: The policy provides for Guaranteed Additions @ Rs.50/- per thousand Sum assured for each completed year, for the first five years.

2.   Optional Benefit: Accident Benefit Rider: Accident Benefit Rider is available as an optional rider by payment of additional premium under regular premium policies. In case of accidental death, the Accident Benefit Rider Sum Assured will be payable as lumpsum along with the death benefit under the basic plan. In case of accidental disability arising due to accident (within 180 days from the date of accident), an amount equal to the Accident Benefit Sum Assured will be paid in monthly instalments spread over 10 years and future premiums shall be waived. If the policy becomes a claim either by way of death or the policy vests before the expiry of the said period of 10 years, the disability benefit instalments which have not fallen due will be paid in lump sum. The Accident Benefit Sum Assured may be opted for an amount upto the Basic Sum Assured subject to minimum of Rs. 25,000 and maximum of Rs. 50 lakh (including all policies with LIC of India and other insurers). This benefit will be available only till the age nearer birthday of the Life assured is 65 yrs or till the vesting age, whichever is earlier.

3.   Income Tax Benefit – Premiums paid under life insurance policy are exempted from tax under Section 80 C and 1/3rd of the maturity proceeds are exempted from tax under Section 10 (10A). Annuity that is received is taxable.

4.   Benefit on Vesting: On vesting an amount equal to the Basic Sum Assured along with accrued Guaranteed Additions, vested Simple Reversionary bonuses and Final Additional bonus, if any, shall be made available to the Life Assured.

5.   Death Benefit :

·         Death during first five policy years: Basic Sum Assured along with accrued Guaranteed Addition shall be paid as lump sum or in the form of an annuity or partly in lump sum and balance in the form of an annuity to the nominee.

·         Death after first five years: Basic Sum Assured along with accrued Guaranteed Addition, Simple Reversionary and Final Additional Bonus, if any, shall be paid as lump sum or in the form of an annuity or partly in lump sum and balance in the form of an annuity to the nominee.

·         The amount of annuity will depend on the payable lump sum and the then prevailing immediate annuity rates.

Eligibility conditions of New Jeevan Nidhi Plan No. 818:

1)  Minimum Age at entry for Life Assured   : 20 years (nearest Birth day)

2) Maximum Age at entry for Life Assured   : 58 years (nearest Birthday) in Regular Premium

: 60 years (nearest Bday) in Single Premium

3) Minimum Deferment Period                     : 5 years under Single Premium

:7 years under Regular Premium

4) Maximum Deferment Period                    : 35 years

5) Minimum age at Maturity                          : 55 years (Nearest Birthday)

6) Maximum age at Maturity                         : 65 years (Nearest Birthday)

7) Premium payment mode                         : Yearly, Half-yearly, Quarterly, Monthly (SSS or

ECS ) Or Single Premium

8) Minimum Sum Assured                           : Rs 1,00,000/- for regular Premium

: Rs 1,50,000/- for Single Premium

9) Maximum Sum Assured                          : No Limit

The Sum Assured shall be in multiple of Rs 5000/-

LIC's New Money Back Plan No. 921 - 25 Years

New Money Back Plan-25 years plan no. 921 is a taking part non-joined plan which offers an appealing mixture of assurance against death all through the term of the plan alongside the occasional installment on survival at defined lengths of time throughout the term. It is a non-linked life insurance plan which offers guaranteed returns and bonus. This policy combines the dual benefits of savings and insurance. In money back 25 years insurance policy partial survival benefits means some percentage of sum assured are paid to the policyholder at specific intervals during the term of the policy. In this plan, premium needs to be paid for a period of 20 years while the policy continues for 25 years. In this plan policy can be taken by anyone between the age of 13 to 45 years for a fixed tenure of 25 years. In this plan 15% of the Sum Assured is paid to the Life Insured on survival at the end of every 5 years and the remaining 40% of the Sum Assured along with Vested Simple Reversionary Bonus + Final Addition Bonus would be paid to the Life Insured on survival till the end of the Policy Tenure as Maturity Benefit.

Features of New Money Back Plan No. 921 - 25 Years

Money Back Plan for a tenure of 25 years

15% of Sum Assured is paid at the end of 5^th, 10^th 15^th and 20^th Year as Survival Benefit

Simple Reversionary Bonus is payable on maturity or earlier death

Large Sum Assured is available in this plan

LIC’ s Accidental Death and Disability Benefit Rider is available

Benefits of LIC’s New Money Back Plan No. 921 - 25 Years

Death benefits: On death of policyholder throughout the policy term gave the policy is in full constrain, death benefit, characterized as total of "Entirety Guaranteed on Death" and vested Straightforward Reversionary Bonuses and Last Extra Bonus, if any, should be payable. Where, "Entirety Guaranteed on Death" is characterized as higher of 125% of the Fundamental Total Guaranteed or 10 times of annualized premium. This death benefits should not be less of what 105% of the aggregate premiums paid as on date of death. 

The premiums specified above prohibit tax, additional premium and rider premium, if any. 

Survival Benefits: 

If there should arise an occurrence of Life Guaranteed making due to the end of the tagged lengths of time 15% of the Essential Entirety Guaranteed at the end of each of 5th, 10th, 15th & 20th policy year. 

Maturity benefit: 

If there should arise an occurrence of Life guaranteed surviving the stipulated date of Maturity, 40% of the Fundamental Total Sum Assured alongside vested Straightforward Reversionary Bonuses and Last Extra bonus, if any, might be payable. 

Participate in Benefits: 

The insurance policy might partake in benefits of the Enterprise and should be qualified for accept Basic Reversionary Bonuses proclaimed according to the knowledge of the Partnership, gave the policy is in full constrain. 

Last Extra Bonus might likewise be proclaimed under the policy in the year when the policy results into a case either by death or development gave the policy has race to certain base term.

Eligibility Conditions of New Money Back Plan No. 921 - 25 Years

·         Age at entry – 13 to 45 years

·         Age at Maturity – Maximum 70 Years

·         Policy Term – 25 years

·         Premium Paying Term – 20 Years

·         Premium mode – Yearly, Half-yearly, Quarterly, Monthly (SSS or ECS)

·         Basic Sum Assured – 1,00,000 and above ( In multiples of 5000)

Loan – Available after payment of 36 months premiums.

The maximum amount of loan that can be granted as a percentage of Surrender Value be as under:

·         For inforce and fully paid-up policies – upto  90%

·         For paid-up policies – 80%

·         Foreclosure action shall not be taken under fully paid-up and inforce policies even if there is default of loan interest.

Surrender Value -

Guaranteed Surrender Value (GSV) – Available after payment of 36 months premiums.

GSV shall be a percentage of total premiums paid (net of taxes) excluding extra premium, if any and premium paid for riders, if opted for. Less any Survival Benefits already paid.

Single Premium Endowment Plan No. 917

LIC Single Premium Endowment Policy plan no. 917 is an endowment insurance policy or a savings plan where the entire premium is paid just once at the start of the policy. Lic Single Premium Endowment Policy plan no. 917 is an endowment policy where Sum assured along with Bonus and Final additional bonus will be paid to the policyholder, at the end of the policy term or policy period. LIC Single Premium Endowment policy 917 offers bonus and is not linked to the market. In Single Premium Lic policy the premium is paid in lump sum at the beginning of the policy and the returns are given to the policyholder at the end of policy term or to the nominee in case of death of the policyholder.

Single Premium Endowment Plan Highlights:

1. Single premium
2. With profit endowment plan
3. Minimum age at entry is 90 days
4. Loan available after completion of one year
5. Back dating is allowed

Maturity Benefits:

On survival of the Life Assured to the end of policy term,

Maturity benefit = Sum Assured + vested Simple Reversionary Bonuses + Final Additional Bonus, if any.

Death Benefits:

On death of the Life Assured on or after the commencement of risk during the policy term,

Death Benefit = Sum Assured + vested Simple Reversionary Bonuses + Final Additional Bonus, if any.

On death of the Life Assured before the commencement of risk during the policy term,

Death Benefit = Return of single premium – service tax and extra premium, if any, without interest.

Eligibility conditions and restrictions:

Particulars	Description
Age at entry	90 days (completed) to 65 years (nearest birthday)
age at maturity	18 to 75 years
Policy term	10 to 25 years
Premium mode	Single premium only
basic sum assured	50000 and above ( in multiples of 5000) – no upper limit

Date of Commencement of risk:

In case the entry age of Life Assured is less than 8 years, risk will commence either 2 years from the date of commencement or from the policy anniversary coinciding with or immediately following the attainment of 8 years of age, whichever is earlier. For those aged 8 years or more, risk will commence immediately.

Surrender Value:

Single Premium Endowment Lic policy can be surrendered at any time during the policy term.

Guaranteed Surrender Value (GSV):

1. First year: 70% of the Single premium – service tax and extra premium, if any
2. Thereafter: 90% of the Single premium – service tax and extra premium, if any.

In addition, the surrender value of vested Simple Reversionary Bonuses, if any shall also be payable.

Special surrender value (SSV):

Special surrender Value is the discounted value of sum assured and vested simple reversionary bonuses.

Loan:

Loan facility is available under Single Premium Endowment Lic plan.

Suicide clause:

If the life assured commits suicide before a year from the date of commencement of risk, he/she will be returned back with 90% of single premium paid excluding any taxes and extra premium, if any.

Taxes:

Taxes, if any, shall be as per the Tax laws and the rate of tax as applicable from time to time.

New Jeevan Anand Plan No. 815

LIC New Jeevan Anand Plan No. 815 is a combination of whole life policy and endowment. New Jeevan Anand Plan offers insurance cover for entire life of the insured person. It is a pure investment plan with high bonus facility and liquidity facility incorporated and saving. This plan is a double death benefit plan if the life insured survives till the end of the policy term. Jeevan Anand policy is whole life risk coverage even after maturity and full payout at maturity.





New Jeevan Anand Plan No. 815

Jeevan Anand Plan No. 815 Benefits

Maturity Benefit - Basic Sum Assured along with Vested Simple Reversionary Bonuses and Final       Additional Bonus, if Any

Death Benefit - The death benefit as defined above shall not be less than 105% of total premiums* paid as on the date of death.

Sum Assured on Death shall be Higher of ~125% of Basic Sum Assured (1.25 x BSA) OR 10 times Annual Premium.(10 x AP).

During the policy term – ‘Sum Assured on Death’ along with Vested Simple Reversionary Bonuses and Final Additional Bonus, if any.

Eligibility Conditions and Restrictions

• Age at entry – 18 to 50 years
• Age at Maturity – Maximum 75 Years
• Policy Term – 15 to 35 years
• Premium mode – Yearly, Half-yearly, Quarterly, Monthly (SSS or ECS)
• Basic Sum Assured – 100000 and above ( In multiples of 5000)

Loan – Available after payment of 3 full years premiums.

Jeevan Tarun Plan of LIC plan 834

Jeevan Tarun Plan of Lic (Table No.: 834) is children money back plan which is specially designed for securing children education. This plan gives options to choose survival benefit and helps to ensure financial requirements of child education from 20 to 25 years of child age. This plan can be purchased by parent or grand parent for their 0-12 year old child and very useful with premium waiver rider which provides premium waiver in case of death of guardian during policy term.

Option Name	Survival Benefits	Maturity Benefits
Option 1	No Survival Benefit	100% of Sum Assured
Option 2	5% of Sum Assured every year for 5 years	75% of Sum Assured
Option 3	10% of Sum Assured every year for 5 years	50% of Sum Assured
Option 4	15% of Sum Assured every year for 5 years	25% of Sum Assured

Eligibility Conditions

Age of Entry	90 days to 12 years
Premium Paying Mode	Yearly, Half Yearly, Quarterly, Monthly (ECS Only)
Policy Term	25 - Age at Entry (20 years in case of 5 year old child)
Premium Paying Term	20 - Age at Entry (15 years in case of 5 year old child)
Sum Assured	75000 and above (in multiples of 10000)
Premium Payment Mode rebate	2% on yearly, 1% on Half Yearly, Nil on Quarterly & Monthly
High Sum assured Rebate (per Thousand of SA)	Rs. 0 on 75,000 to 1,90,000 Rs. 2 on 2,00,000 to 4,90,000 Rs. 3 on SA on 5,00,000 and above
Loan	After 2 Years for less than 10 year term & 3 years for more than 10 year term
Surrender	After 2 Years for less than 10 year term & 3 years for more than 10 year term
Revival	Within 2 Years of Lapse

LIC Jeevan Tarun Policy (Plan No.834) Benefits

Under this LIC Jeevan Tarun optional Money back policy 834 survival benefits, maturity benefits, death benefits, rider benefits are available. Detailed explanation about benefits of LIC Jeevan Tarun Plan 834 are given below.

Death benefits

• If death happens before start of risk, all premiums paid excluding taxes will be paid.
• If death happens after start of risk, then Sum Assured on death (125% of sum assured) + Bonus + FAB will be payable.

Maturity benefit

There are four options available to take the maturity on survival which gives the flexibility to plan and secure future requirements from 20 year of age to 25 year of age child. The four option are explained in following table.

Premium Waiver Benefit Rider (PWB)

This plan can be bought with Premium waiver benefit against life of proposer (Parents or Grand Parents) with additional premium. In case of death of Parents, further premiums will not be required to pay. This rider must be included with this policy to get a complete child plan.

Starting of Risk

• In case, the child is less than 8 year old, then, life cover will start 2 year after policy purchase or completion of 8 year of age, whichever is earlier.
• Example, if child is 2 year old, then life cover (risk) will start after 2 year i.e. when child will become 4 year old and if child is 7 year old then, risk will start when child becomes 8 year old i.e. that is one year after purchasing policy.
• If child is 8 year old at the time of buying policy then, risk will start immediately.