Back to Investment Opportunities Main Page  |  Back to Home Page  |  



Life Insurance Corporation


Jeevan Anurag
Komal Jeevan
CDA Endowment Vesting At 21
Marriage Endowment or Educational Annunity Plan
CDA Endowment Vesting At 18
Jeevan Kishore
Jeevan Chhaya

 

 

 

Jeevan Anurag

TOP

Benefits
LIC’s Jeevan ANURAG is a with profits plan specifically designed to take care of the educational needs of children. The plan can be taken by a parent on his or her own life. Benefits under the plan are payable at prespecified durations irrespective of whether the Life Assured survives to the end of the policy term or dies during the term of the policy. In addition, this plan also provides for an immediate payment of Basic Sum Assured amount on death of the Life Assured during the term of the policy.

Assured Benefit
Payment of 20% of the Basic Sum Assured at the start of every year during last 3 policy years before maturity. At maturity, 40% of the Basic Sum Assured along with reversionary bonuses declared from time to time on full Sum Assured for the full term and the Terminal bonus, if any shall be payable. For example, if term of the policy is 20 years, 20% of the Sum assured will be payable at the end of the 17th,18th, 19th year and 40% of the Sum Assured along with the reversionary bonuses and the terminal bonus, if any, at the end of the 20th year.

Death Benefit
Payment of an amount equal to Sum Assured under the basic plan immediately on the death of the life assured.


for more details log on to www.licindia.com

 

 

 

Komal Jeevan

TOP

Product summary:
This is a Children's Money Back Plan that provides financial protection against death during the term of plan with periodic payments on survival at specified durations. This plan can be purchased by any of the parent or grand parent for a child aged 0 to 10 years.

Commencement of risk cover:
The risk commences either after 2 years from the date of commencement of policy or from the policy anniversary immediately following the completion of 7 years of age of child, whichever is later.

Premiums:
Premiums are payable yearly, half-yearly, quarterly, monthly or through Salary deductions, as opted by you, up to the policy anniversary immediately after the life assured (child) attains 18 years of age or till the earlier death of the life assured. Alternatively, the premium may be paid in one lump sum (Single premium).

 


for more details log on to www.licindia.com

 

 

 

 

CDA Endowment Vesting At 21

TOP

Features:
This plan of assurance is designed to enable a parent or a legal guardian or any near relative of the child to provide for the child, by payment of a very low rate of premium, the risk under which will commence at a selected age. The policy envisages two stages, one covering the period form the date of commencement of the policy to the deferred date( that is the date of cent of risk on the childommencem's life) called the deferment period, and the other covering the period from the deferred date to the date on which the policy emerges as a claim by the death of the child or its survival to a stipulated date. A combined policy will be issued covering both the aforesaid periods. Policy under the scheme will not be issued for deferment periods less then four years or for maturity ages other than quinquennial. Option is available as regards the age of commencement of risk on the child's life which may be 18 or 21 completed as desired. In case of assurance vesting at age 18, table no. will be 50 and in case of assurance vesting at age 21, table no. will be 41.

Suitable For:
The special provisions applicable to this policy provide that if the life assured shall be alive on the deferred date, if all the premiums due prior to the deferred date have been paid, and if a request in writing for receiving the cash option available on the deferred date or for surrendering the policy has not been received by the corporation before the deferred date from the person entitled to policy monies, the policy shall vest in the life assured on the deferred date and shall on such vesting be deemed to be a contract between the corporation and the life assured as the absolute owner of the policy and the proposer or his estate shall cease to have any right or interest herein.

for more details log on to www.licindia.com


 

 

 

 




Marriage Endowment or Educational Annunity Plan

TOP

Feature:
The Marriage Endowment/ Educational annuity plan provides a sum assured to be kept aside for the expenses of marriage or higher education of the policyholder's children. Premiums payable for selected term or till death of the life Assured. Benefits will be given only after the selected term.

Special Features:
With the help of this policy one can earmark money exclusively for the marriage or higher education of children – two major responsibilities in the life of every family person.Under this plan the policy monies and bonus are paid only at the end of the selected term, irrespective of whether the policy holder survives till the term or not, i.e. the survival or death benefit is payable at the same time. Unlike in the case of other endowment policies, the policy benefits in the case of Marriage Endowment / Educational Annuity Plan are not released to the policy holder’s family in case of his premature death, but retained by LIC and released only at the end of the originally selected term.In case the policy holder were to die during the term of the policy, no further premiums are payable but the bonus continues to accrue for the full-term of the policy. The sum assured, plus the accumulated bonus for the full term, are then paid to the family at the end of the policy’s term. Further, one can opt to receive the money either in one lump sum, or in ten half-yearly installments, the former may be suitable if the policy is bought essentially for the purpose of a child marriage and the latter if it is a provision for higher education.In case, the Double Accident Benefit is availed, then an additional sum equal to the basic Sum Assured becomes payable immediately on death due to accident during the policy term.Non-medical General and Special schemes are applicable.

Suitable For:
Being an endowment assurance policy, this plan is apt for people with fluctuating income of all ages and social groups who wish to protect their families from a financial setback that may occur owing to their untimely death and in particular to meet the educational and marriage expenses of childern.The amount assured will become payable at the end of the endowment term when it can be invested in an annuity provision for the rest of the policyholder's life or in any other way he may think most suitable at that time.The policyholder also has the option to receive the policy moneys in 10 equal half-yearly installments. If there is a death claim, then the beneficiaries can exercise their right instead.

for more details log on to www.licindia.com



 

 

 

 


CDA Endowment Vesting At 18

TOP

Feature:
This plan of assurance is designed to enable a parent or a legal guardian or any near relative of the child to provide for the child, by payment of a very low rate of premium, the risk under which will commence at a selected age. The policy envisages two stages, one covering the period form the date of commencement of the policy to the deferred date( that is the date of commencement of risk on the child's life) called the deferment period, and the other covering the period from the deferred date to the date on which the policy emerges as a claim by the death of the child or its survival to a stipulated date.

A combined policy will be issued covering both the aforesaid periods. Policy under the scheme will not be issued for deferment periods less then four years or for maturity ages other than quinquennial. Option is available as regards the age of commencement of risk on the child's life which may be 18 or 21 completed as desired. In case of assurance vesting at age 18, table no. will be 50 and in case of assurance vesting at age 21, table no. will be 41.

Suitable For:
The special provisions applicable to this policy provide that if the life assured shall be alive on the deferred date, if all the premiums due prior to the deferred date have been paid, and if a request in writing for receiving the cash option available on the deferred date or for surrendering the policy has not been received by the corporation before the deferred date from the person entitled to policy monies, the policy shall vest in the life assured on the deferred date and shall on such vesting be deemed to be a contract between the corporation and the life assured as the absolute owner of the policy and the proposer or his estate shall cease to have any right or interest herein.


for more details log on to www.licindia.com

 

 

 

 



Jeevan Kishore

TOP

Product summary:
This is an Endowment Assurance Plan available for children of less than 12 years of age. The policy may be purchased by any of the parent/grand parent.

Commencement of risk cover:
The risk commences either after 2 years from the date of commencement of policy or from the policy anniversary immediately following the completion of 7 years of age of child, whichever is later.

Premiums:
Premiums are payable yearly, half-yearly, quarterly or monthly throughout the term of the policy or till earlier death of child.

Bonuses:
This is a with-profits 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. A Final (Additional) Bonus may also be payable provided policy has run for certain minimum period.


for more details log on to www.licindia.com

 

 

 

 

 


Jeevan Chhaya

TOP

Features:
Ideal for parents having less than a year old child.Makes provision for education/ marriage of the child.Extra benefit of waiver of premium in case of death of the policy holder.

Suitable For:
Couples having a less than one year child (not an adopted child) can avail themselves of this plan, in order to ensure that an adequate financial provision is made for the higher education of the child. The child should not have completed one year of age on the date of Registration of the proposal. Either father or mother or each one of them individually can take policies under this plan under Non-medical Scheme. This plan is also allowed to others subject to medical examination.

Special Features:
This policy is given under non-medical scheme up to sum assured of Rs.1 lakh, if the prospect is having a child of less than one year of age as on date of registering the proposal. This non-medical is exclusive for other policies.



for more details log on to www.licindia.com


 

 

Back to Investment Opportunities Main Page  |  Back to Home Page  |