LIC's JEEVAN SHAGUN (UIN: 512N290V01)

LIC's JEEVAN SHAGUN (UIN: 512N290V01)

• BENEFITS:
• Death Benefit:

  On death during first five policy years:
Basic Sum assured i.e. 10 times the tabular single premium shall be payable.

On death after completion of five policy years:
  Basic Sum assured i.e. 10 times the tabular single premium along with Loyalty Addition, if any, shall be payable.

•  Survival Benefit: On Life Assured surviving to the end of the specified durations, the following Survival benefit shall be payable.

• At the end of 10th policy year: 15% of the Maturity Sum Assured.
• At the end of 11th policy year: 20% of the Maturity Sum Assured.

• Maturity Benefit:

On maturity,  65% of the Maturity Sum Assured along with Loyalty Addition, if any, shall be payable.

• Loyalty Addition:

Depending upon the Corporation’s experience, a policy shall participate in the profits in the form of Loyalty Addition. The Loyalty Addition, if any, shall be  payable on death or surrender, provided the policy has run for atleast  five policy years, or on policyholder surviving to the maturity, at such rate and on such terms as may be declared by the Corporation.

	Policy Document LIC's Jeevan Shagun is a participating, non-linked, savings cum protection single premium plan wherein the risk cover is a multiple of single premium. The proposer will have an option to choose the Maturity Sum Assured. The single premium payable (exclusive of service tax) shall depend on the chosen amount of Maturity Sum Assured and age of the life assured. A percentage of Maturity Sum Assured shall be payable on surviving to the end of the specified durations and on maturity.  This plan also takes care of liquidity need through its loan facility. The plan will be open for sale for a maximum period of 90 days from the date of launch. Statutory warning “Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your life insurance company.  If your policy offers guaranteed returns then these will be clearly marked “guaranteed” in the illustration table on this page.  If your policy offers variable returns then the illustrations on this page will show two different rates of assumed investment returns.  These assumed rates of return are not guaranteed and they are not upper or lower limits of what you might get back as the value of your policy is dependant on a number of factors including future investment performance.” Notes: i)  The single premium shown above is exclusive of service tax. ii) This illustration is applicable to a standard (from medical, life style and occupation point of view) life. iii) The non-guaranteed benefits (1) and (2) in above illustration are calculated so that they are consistent     with the Projected Investment Rate of Return assumption of 4% p.a. (Scenario 1) and 8% p.a. (Scenario 2) respectively.  In other words, in preparing this benefit illustration, it is assumed that the Projected Investment Rate of Return that LICI will be able to earn throughout the term of the policy will be 4% p.a. or 8% p.a., as the case may be.  The Projected Investment Rate of Return is not guaranteed. iv) Under Scenario 1 and 2 where interest rate earned by the Corporation is assumed to be 4% and 8% p.a. respectively throughout the term, the projected Loyalty Addition is nil. v) The main objective of the illustration is that the client is able to appreciate the features of the product and the flow of benefits in different circumstances with some level of quantification. SECTION 45 OF INSURANCE ACT, 1938: No policy of life insurance shall after the expiry of two years from the date on which it was effected, be called in question by an insurer on the ground that a statement made in the proposal for insurance or in any report of a medical officer, or referee, or friend of the insured, or in any other document leading to the issue of the policy, was inaccurate or false, unless the insurer shows that such statement was on a material matter or suppressed facts which it was material to disclose and that it was fraudulently made by the policyholder and that the policyholder knew at the time of making it that the statement was false or that it suppressed facts which it was material to disclose. Provided that nothing in this section shall prevent the insurer from calling for proof of age at any time if he is entitled to do so, and no policy shall be deemed to be called in question merely because the terms of the policy are adjusted on subsequent proof that the age of the life assured was incorrectly stated in the proposal. SECTION 41 OF INSURANCE ACT 1938  (1)  No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer:   provided that acceptance by an insurance agent of commission in connection with a policy of life insurance taken out by himself on his own life shall not be deemed to be acceptance of a rebate of premium within the meaning of this sub-section if at the time of such acceptance the insurance agent satisfies the prescribed conditions establishing that he is a bona fide insurance agent employed by the insurer. (2) Any person making default in complying with the provisions of this section shall be punishable with fine which may extend to five hundred rupees. Note: Conditions apply for which please refer to the Policy document or contact our nearest Branch Office. ELIGIBILITY CONDITIONS AND OTHER RESTRICTIONS: Minimum Entry Age                                         : 8 years (completed) Maximum Entry Age                                         : 45 years (nearest birthday) Minimum/Maximum Basic Sum Assured        : 10 times of tabular single premium paid                                                                                         Minimum Maturity Sum Assured                      : Rs. 60,000/- Maximum Maturity Sum Assured                      : No Limit  Maturity Sum Assured shall be available in multiples of Rs. 5,000/-. Policy Term                                                        : 12 years Premium payment mode                                   : Single premium only SAMPLE  PREMIUM RATES: Specimen tabular Single Premium rates for some of the ages per Rs.1000/- Maturity Sum Assured are as under:     Age at entry  (Nearest Birthday) Tabular Single Premium Rates (Rs.) 10 494.95 20 508.20 30 521.25 40 595.40 Note: Tabular premiums do not include any extra premium or taxes and is before applying high Maturity Sum Assured rebate. REBATE FOR HIGH MATURITY SUM ASSURED: Maturity Sum Assured Reduction in Tabular premium per 1000/- Maturity Sum Assured Below Rs.150,000 Nil Rs.150,000 to Rs. 395,000 Rs. 15 Rs.4,00,000 and above Rs. 20 LOAN: Loan can be availed under this plan any time after completion of one policy term and subject to terms and conditions as the Company may specify from time to time.  SURRENDER VALUE: The policy can be surrendered for cash at any time during the policy term.  The minimum Guaranteed Surrender Value allowable shall be as under: First year: 70% of the Single premium excluding extra premiums and taxes, if any. Thereafter: 90% of the Single premium excluding taxes, any extra premium paid and survival benefits, if paid earlier. The Corporation shall pay Special Surrender Value as applicable as on date of surrender provided the same is higher than Guaranteed Surrender Value. If the policy is surrendered after completion of five policy years Loyalty Addition, if any, based on surrender value, shall also be payable. Tax: Taxes, including Service Tax, shall be as per the Tax laws and the rate of tax shall be as applicable from time to time. The amount of tax as per the prevailing rates shall be payable by the policyholder on single premium including extra premium, if any. The amount of Tax paid shall not be considered for the calculation of benefits payable under the plan. COOLING- OFF PERIOD: If the Policyholder is not satisfied with the “Terms and Conditions” of the policy, the policy may returned to the Corporation within 15 days from the date of receipt of the policy stating the reason of objections. On receipt of the same the Corporation shall cancel the policy and return the amount of single premium deposited after deducting the proportionate risk premium for the period on cover, stamp duty charges and any charges incurred on medical examination and special reports. EXCLUSIONS: The policy shall be void if the Life Assured (whether sane or insane at the time) commits suicide at any time within 12 months from the date of commencement of risk and the Corporation will not entertain any claim under this policy except to the extent of  90% of the single premium paid excluding taxes and any extra premium paid.

LIC’s NEW ENDOWMENT PLAN (UIN: 512N277V01)

LIC’s NEW ENDOWMENT PLAN (UIN: 512N277V01)

LIC's New Endowment Plan is a participating non-linked plan which offers an attractive combination of protection and saving features. This combination provides financial support for the family of the deceased policyholder any time before maturity and good lump sum amount at the time of maturity for the surviving policyholders. This plan also takes care of liquidity needs through its loan facility.

1. Benefits:

Deathbenefit:
In case of death during the policy term provided all due premiums have been paid 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 Basic Sum Assured or 10 times of annualised premium. This death benefit shall not be less than 105% of all the premiums paid as on date of death.

Where premiums exclude service tax, extra premium and rider premiums, if any.

Maturity Benefit: Basic Sum Assured, along with vested simple reversionary bonuses and Final Additional bonus, if any, shall be payable in lump sum on Survival to the end of the policy term provided all due premiums have been paid.

Participation in Profits: The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation, provided the policy is in full force.
     
Final (Additional) Bonus may also be declared under the policy in the year when the policy results into a claim either by death or maturity, provided the policy has run for certain minimum term.

2. Optional Benefit:

LIC’s Accidental Death and Disability Benefit Rider:  LICs Accidental Death and Disability Benefit Rider is available as an optional rider by payment of additional premium. In case of accidental death, the Accident Benefit Sum Assured will be payable as lumpsum along with the death benefit under the basic plan.  In case of accidental permanent 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 equal monthly installments spread over 10 years and future premiums for Accident Benefit Sum Assured as well as premiums for the portion of Basic Sum Assured which is equal to Accident Benefit Sum Assured under the policy, shall be waived.

LIC's JEEVAN AROGYA (UIN - 512N266V02)

Health Plans - LIC's JEEVAN AROGYA (UIN - 512N266V02)

	LIC's Jeevan Arogya is a unique non-participating non-linked plan 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. 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. LIC’s Jeevan Arogya gives you: Valuable financial protection in case of hospitalisation, 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 Very easy to choose your plan             Step 1 Choose the level of Health cover you need Step 2 Work out the premium payable along with our Representative Step 1: Choose the level of Health cover you need: You can choose the amount of Initial Daily Benefit (i.e. the daily Hospital Cash Benefit applicable in the first year of the policy) as per your need from out of the following choices: ` 1000 per day ` 2000 per day ` 3000 per day ` 4000 per day This is the amount that will be payable to you in the event of hospitalisation in the first year on a per day basis. The Major Surgical Benefit that you will be covered for will be 100 times the Initial Daily Benefit you have chosen. Thus the initial Major Surgical Benefit Sum Assured will be ` 1 lakh, 2 lakh, 3 lakh, 4 lakh respectively. Other benefits such as Day Care Procedure Benefit, Other Surgical Benefit and Premium waiver Benefit (PWB) mentioned below shall also be payable depending upon the daily Hospital Cash Benefit chosen. Step 2: Work out the premium payable along with our representative Your premium will depend on your age, gender, the Health cover option you have chosen, whether you are Principal Insured or other insured life and the mode of payment. Tables below give an indicative annual premium, payable yearly, for all health benefits corresponding to an Initial Daily Benefit of ` 1000 per day, for some of the ages in respect of  various lives that can be covered under a single policy:      PRINCIPAL INSURED (Male) Age at entry Premium (`) 20 1922.65 30 2242.90 40 2799.70 50 3768.00          SPOUSE (Female) / PARENT (of PI/Spouse) (Female) Age at entry Premium (`) 20 1393.15 30 1730.65 40 2240.60 50 2849.10 CHILD Age at entry Premium (`) 0 792.00 5 794.75 10 812.35 15 870.75 (Premiums indicated are exclusive of Service Tax) 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: Minimum age at entry Maximum age at entry Self / spouse 18 years 65 years (last birthday) Parents / parents-in-law 18 years 75 (last birthday) Children 91 days 17 years (last  birthday) How long are each insured under this policy? Each of the insured are covered for Health risks up to age (80). Children are insured up to age 25 years.

LIC HOUSING LOAN

Resident Indians

1. Purchase

Loan Amount	:	Min.Rs.1,00,000/-
Loan to Property cost	:	85% of total cost of the property including Stamp Duty & Registration Charges for loan up to 20 Lacs 80% of total cost of the property including Stamp Duty & Registration Charges for loan above 20 Lacs and up to 75 Lacs 75% of total cost of the property including Stamp Duty & Registration Charges for loan upabove 75 Lacs .
Loan Term	:	Maximum term - For Salaried - 30 years, for self employed 20 Years
Repayment Mode	:	Equated Monthly Installments (EMI)- Monthly Rest Basis
Rate of Interest	:	Contact nearest Office for details on the Prevailing Interest Rates
Upfront fees	:	As applicable from time to time

2. Construction

Loan Amount	:	Min.Rs.1,00,000/-
Loan to Property cost	:	85% of total cost of the property including Stamp Duty & Registration Charges for loan up to 20 Lacs 80% of total cost of the property including Stamp Duty & Registration Charges for loan above20 Lacs and up to 75 Lacs 75% of total cost of the property including Stamp Duty & Registration Charges for loan above 75 Lacs
Loan Term	:	Maximum term - For Salaried - 30 years, for self employed 20 Years
Repayment Mode	:	Equated Monthly Installments (EMI) - Monthly Rest Basis
Rate of Interest	:	Contact nearest Office for details on the Prevailing Interest Rates
Upfront fees	:	As applicable from time to time

3. Extension

Loan Amount	:	Min.Rs.1,00,000/-
Loan to Property cost	:	85% of total cost of the property including Stamp Duty & Registration Charges for loan up to 20 Lacs 80% of total cost of the property including Stamp Duty & Registration Charges for loan above20 Lacs and up to 75 Lacs 75% of total cost of the property including Stamp Duty & Registration Charges for loan above 75 Lacs
Loan Term	:	: Maximum term - For Salaried - 30 years, for self employed 20 Years
Repayment Mode	:	Equated Monthly Installments (EMI) - Monthly Rest Basis
Rate of Interest	:	Contact nearest Office for details on the Prevailing Interest Rates
Upfront fees	:	As applicable from time to time

LIC's NEW JEEVAN ANAND (UIN: 512N279V01)

For more details please contact 9443388475,9994760712,9488760712

LIC's New Jeevan Anand Plan is a participating non-linked plan which offers an attractive combination of protection and savings. This combination provides financial protection against death throughout the lifetime of the policyholder with the provision of payment of lumpsum at the end of the selected policy term in case of his/her survival. This plan also takes care of liquidity needs through its loan facility.

1. Benefits:

Death benefit :

Provided all due premiums have been paid, the following death benefit shall be paid:

On Death during the policy term: 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 125% of Basic Sum Assured or 10 times of annualised premium. This death benefit shall not be less than 105% of all the premiums paid as on date of death.

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

On death of policyholder at any time after policy term: Basic Sum Assured

Benefits payable at the end of Policy Term: Basic Sum Assured, along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable in lump sum on survival to the end of the policy term provided all due premiums have been paid.

Participation in Profits : The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation during policy term provided the policy is in full force.

Final (Additional) Bonus may also be declared under the plan in the year when the policy results into death claim during the policy term or due for the survival benefit payment provided the policy is in full force and has run for certain minimum term.

2. Optional Benefit:

LIC's Accidental Death and Disability Benefit Rider: LIC's Accidental Death and Disability Benefit Rider is available as an optional rider by payment of additional premium during the policy term. In case of accidental death during the policy term, Accident Benefit Sum Assured will be payable as lumpsum along with the death benefit under the basic plan. In case of accidental permanent 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 equal monthly installments spread over 10 years and future premiums for Accident Benefit Sum Assured as well as premiums for the portion of Basic Sum Assured which is equal to Accident Benefit Sum Assured under the policy, shall be waived.

LIC's NEW BIMA BACHAT (UIN: 512N284V01)

LIC's New Bima Bachat is a participating non-linked savings cum protection plan, where premium is paid in lump sum at the outset of the policy. It is a money-back plan which provides financial protection against death during the policy term with the provision of payment of survival benefits at specified durations during the policy term. In addition, on maturity, the single premium shall be returned along with Loyalty Addition, if any. This plan also takes care of liquidity needs through its loan facility.
a) BENEFITS:Death benefit:

On death during the first five policy years: Sum Assured.
On death after completion of five policy years: Sum Assured along with Loyalty Addition, if any.

b)Survival Benefits:
Payable as given below in case of Life Assured surviving to the end of the specified durations:

For policy term 9 years: 15% of the Sum Assured at the end of each of 3rd & 6th policy year

For policy term 12 years: 15% of the Sum Assured at the end of each of 3rd, 6th & 9th policy year

For policy term 15 years: 15% of the Sum Assured at the end of each of 3rd, 6th, 9th & 12th policy year

c) Maturity Benefit:
Payment of Single Premium (excluding taxes and extra premium, if any) along with Loyalty Addition, if any, in case of Life Assured surviving to the end of the policy term.
d) Loyalty AdditionDepending upon the Corporation's experience the policies shall be participate in the profits and shall be eligible for Loyalty Addition. The Loyalty Addition, if any, is payable on death after completion of five policy years and on policyholder surviving to maturity, at such rate and on such terms as may be declared by the Corporation.

Life Insurance Vs. Other Savings

Life Insurance Vs. Other Savings 

Contract Of Insurance:
A contract of insurance is a contract of utmost good faith technically known as uberrima fides. The doctrine of disclosing all material facts is embodied in this important principle, which applies to all forms of insurance.

At the time of taking a policy, policyholder should ensure that all questions in the proposal form are correctly answered. Any misrepresentation, non-disclosure or fraud in any document leading to the acceptance of the risk would render the insurance contract null and void.

Protection: 
Savings through life insurance guarantee full protection against risk of death of the saver. Also, in case of demise, life insurance assures payment of the entire amount assured (with bonuses wherever applicable) whereas in other savings schemes, only the amount saved (with interest) is payable.

Aid To Thrift: 
Life insurance encourages 'thrift'. It allows long-term savings since payments can be made effortlessly because of the 'easy instalment' facility built into the scheme. (Premium payment for insurance is either monthly, quarterly, half yearly or yearly).
For example: The Salary Saving Scheme popularly known as SSS, provides a convenient method of paying premium each month by deduction from one's salary.
In this case the employer directly pays the deducted premium to LIC. The Salary Saving Scheme is ideal for any institution or establishment subject to specified terms and conditions.

Liquidity:
In case of insurance, it is easy to acquire loans on the sole security of any policy that has acquired loan value. Besides, a life insurance policy is also generally accepted as security, even for a commercial loan.

Tax Relief: 
Life Insurance is the best way to enjoy tax deductions on income tax and wealth tax. This is available for amounts paid by way of premium for life insurance subject to income tax rates in force.
Assessees can also avail of provisions in the law for tax relief. In such cases the assured in effect pays a lower premium for insurance than otherwise.

Money When You Need It: 
A policy that has a suitable insurance plan or a combination of different plans can be effectively used to meet certain monetary needs that may arise from time-to-time.
Children's education, start-in-life or marriage provision or even periodical needs for cash over a stretch of time can be less stressful with the help of these policies.
Alternatively, policy money can be made available at the time of one's retirement from service and used for any specific purpose, such as, purchase of a house or for other investments. Also, loans are granted to policyholders for house building or for purchase of flats (subject to certain conditions).