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LIC launches yet again another new plan of the year - Jeevan Pragati (T. No. 838), which is an endowment plan with increasing risk cover: Here are the salient features of this plan: With Profit Non Linked Endowment Plan with Increasing Risk Cover as below: Term (in Years) Risk Cover 0-5 100% of Basic Sum Assured 6-10 125% of Basic Sum Assured 11-15 150% of Basic Sum Assured 16-20 200% of Basic Sum Assured What is the speciality and beauty of this plan? Its premium remains same over the term. So at the same premium, you will get double the risk cover from 16th year. As your age increases, its necessary to increase your risk cover. No new policies are to taken to increase your risk cover in future Eligibility criteria for the plan is: Minimum age of entry : 12 years Maximum age of entry: 45 years Minimum Sum Assured: 1.5 Lakhs. Policy benef...

For all those who were missing the great plan, Jeevan Shree, from LIC, here is a great news. The old plan is re launched as Jeevan Labh (T. No. 836). And also the minimum sum assured is ₹.2,00,000/- only. Here are the salient features of the new plan Jeevan Labh (836) Limited premium paying term Non Linked With Profit Endowment Plan Plan Term and premium paying terms(PPT) are as under: For term 16 years, PPT is 10 years For term 21 years, PPT is 15 years For term 25 years, PPT is 16 years. You can choose term from one of the above options. It is a very good plan with good returns. Also its payment term is less than plan term, which is useful mostly for professionals or short term paying users. Eligibility criteria for the plan is: Minimum age of entry : 8 years Maximum age of entry: 59/54/50 for above terms of 16/21/25 Minimum Sum Assured: 2 Lakhs. Policy benefits include: Death Benefit: Basic Sum Assured Survival Benefit: Basic Sum Assured...

Life Insurance corporation of India, on 19/08/2015, Wednesday, launching the ULIP plan after a gap of 20 months. It is the first of its kind from LIC after December, 2013. This plan, new Endowment plus, offers investment-cum-insurance during the term of the policy. Plan for your kids education or marriage with this plan. Policyholder has the option to choose anyone from below 4 funds to invest premiums initially and at the time of switching: Fund Type Investment in Government / Government Guaranteed Securities / Corporate Debt Short- term investments such as money market instruments Investment in Listed Equity Shares Details and objective of the fund for risk /return Bond Fund Not less than 60% Fund Not more than 40% Nil Low Risk Secured Fund Not less than 45% Not more than 40% Not less than 15% & Not more than 55% Steady Income -Lower to Medium risk Balanced Fund Not less than 30% Not more than 40% Not less than 30% & Not more than 70% Balanced Income and growth...

LIC launched One more child plan.  The name of the plan is Jeevan Tarun and No is 834. In this plan, you have the option to choose money back from kids age of 20. Here's are the salient features of the plan -  AGE: 0 - 12 Min SA: ₹75000 TERM: (25 - Age at Entry) PPT: (20 - Age at Entry) PWB Available. MATURITY : AGE 25. LAST 5 YEARS OPTIONAL MONEY BACK. Option:  SB (Last 5 yrs): Maturity: 1:          No SB.             100% SA 2:          5% SB.             75% SA 3:          10% SB.           50% SA 4:          15% SB.           25% SA.  All other features such as loan and surrender are available by default. Income Tax Benefit – Available under Section 80 C for premiums paid and Section 10 (10D) for Maturity returns. Ne...

LIC launches a new plan Jeevan Lakshya 833, which has similar features of earlier Jeevan Ankur plan. Jeevan Lakshya is a child benefit endowment plan. This plan is specially designed to meet the Child's future requirements even if the parent is alive or not, as in Jeevan Ankur. Features of LIC's new Jeevan Lakshya: Premium Payment Term = Premium Term - 3 Years. Sum assured with Bonus will be paid on policy maturity .  On the death (natural)  of life insured within the policy term :  Future premiums are waived. So no premium needs to be paid after that.  10% of Sum assured will be paid to the child every year , starting from the next year of parent's expiry.  110 % Sum assured with Bonus will be paid at the end of the policy term. On the  death (accidental)  of life insured  within  the policy term :  Sum assured will be paid immediately . Future premiums are waived. So no premium needs to be paid afte...

Jeevan Sangam :   Single Premium Plan No.831 launching on 4th  March 2015 and available for a maximum period of 90 days.           Close-ended, Non-linked, With-profits plan.           ELIGIBILITY CONDITIONS- o    Minimum Entry Age= 6 yrs completed; o    Maximum Entry Age= 50 yrs nearer birthday; o    Minimum Sum Assured= Rs.75,000/- (in multiples of Rs.10,000/-); o    Maximum Sum Assured= No limit; o    Policy term= 12 yrs fixed;           DATE OF COMMENCEMENT OF RISK- o    for age 7 yrs nearer birthday= Risk will commence from policy anniversary coinciding with or immediately following age 8 yrs ( nearer birthday); o    For those aged 8 yrs nearer birthday or more= Risk will commence immediately.           MATURITY SUM ASSURED = Sum Assured + Loyalty Addition, if any...

LIC launches New Plan - 830 - Limited Premium Endowment Plan. This is a limited premium paying conventional With-Profits Endowment Assurance plan. The plan is available from Ages 18 years to 62 years with certain conditions. The attractive feature of this plan is that Premium paying term is 8 years or 9 years only, whereas the policy term can be for 12,16, and 21 years as per the choice. Features in short: Premium Paying Term            -           8 or 9 years. Policy Term                             -          12, 16 or  21 years. Minimum Basic Sum Assured -            Rs. 3, 00,000/- Maximum Basic Sum Assured-            No Limit. ...

LIC has recently launched a new single premium, money back, 12 years fixed plan. It is available from Sep 1, 2014 to Nov 29, 2014(90 days only). This plan also has 10 times of premium of risk cover. Its returns are thrice to its premium (approximate). It can be compared with FD if needed, where it has more advantages over FD. Here is an illustration of the Jeevan shagun plan at age 30. This is a best plan for those who are looking to fill 50K tax slab (i.e., tax slab raised from1,00,000 to 1,50,000). So why delay? Interested in this policy or need more details? Please feel free to contact me :)