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LIC News : LIC's net proft increase by 14% 27May 24
27 May 2024, LIC Net profit increase by 14%
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LIC Phamphlets, Plans & Combination Posters https://lichelpline.com/lic-phamphlets-plans-combination-posters/ https://lichelpline.com/lic-phamphlets-plans-combination-posters/#respond Sat, 01 Jun 2024 10:36:30 +0000 https://lichelpline.com/?p=6775

LIC Phamphlets, Plans & Combinations

LIC Husband wife Plan

001. 

LIC Husband Wife Pension Plan

Detail: Jeevan Umang 945-15 for both Husband & Wife

S.A. 5lac Each

………………………………………………………………………………….

LIC Marriage Fund Plan

002. 

LIC Marriage Fund Plan

Detail: Amrit Baal for Kids 874-7-25 S.A. Rs 9.1lac

………………………………………………………………………………….

LIC Family Income Plan

003. 

LIC Happy Family Plan

Detail: 871-15-18 S.A. 5Lac for Father, Mother & Kid

………………………………………………………………………………….

004. Special Women Plan

004.

Special Women Plan

Detail: 936-16-25, SA 8lac with settlement option for 5yrs

………………………………………………………………………………….

005. Small Savings Big Benefits

005. 

Small Savings Big Benefits (LIC Jeevan Labh)

Detail: 936-15-21, SA 10ac

………………………………………………………………………………….

6. LIC Jeevan Dhara II
Jeevan Dhara II Hindi
6b. LIC Jeevan Dhara II
Jeevan Dhara II Hindi

………………………………………………………………………………….

007. Jeevan Khushali

007. 

Jeevan Khush-hali

Detail: Jeevan Utsav 871-16-18, SA 10ac

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LIC Jeevan Utsav (Table No. 871): A Comprehensive Guide to LIC’s Latest Plan for Maximum Returns! https://lichelpline.com/lic-jeevan-utsav/ https://lichelpline.com/lic-jeevan-utsav/#respond Fri, 24 Nov 2023 08:41:28 +0000 https://lichelpline.com/?p=6267

LIC Jeevan Utsav : Table No. 871

10% Guaranteed Lifelong

पॉलिसी एक, फायदे अनेक

90 दिन से लेकर 65 वर्ष की आयु तक

Key Benefits: Short term, Limited Premium, Non-Participating, Guaranteed, Life Long Income benefit, Whole life,  Tax Free Insurance Plan

All about LIC Jeevan Utsav [ Table No. 871 ] LIC’s New Plan

LIC Jeevan Utsav, also known as Table No. 871, is LIC’s new plan designed to meet the growing demand for short-term, guaranteed, and lifelong income benefit plans.

In today’s changing times, where people are seeking security and assurance, LIC OF INDIA has responded by launching the Jeevan Utsav Plan. This plan aims to fulfill the evolving needs of individuals, whether they are just 90 days old or a youthful 65 years, providing a comprehensive solution tailored to each person’s requirements.

What makes this plan stand out are the numerous benefits and flexibilities it offers to policyholders. The beauty of Jeevan Utsav lies in its guarantees, clearly outlined in the policy bond. With guaranteed bonuses, insurance coverage, moneyback options, survival benefits, and a secure death claim, this plan ensures financial security and peace of mind for policyholders.

It’s a comprehensive package that addresses the diverse needs of individuals across different age groups.

Table Of Content

Features of LIC’s Jeevan Utsav Plan
Elligibility Criteria of Jeevan Utsav
Benefits Offered by LIC Jeevan Utsav Plan
Annual Income Benefit of Jeevan Utsav
Survival benefit of Jeevan Utsav
Riders in LIC Jeevan Utsav
Loan in LIC Jeevan Utsav
Death Benefit in LIC Jeevan Utsav
Paid up condition in LIC Jeevan Utsav Policy
Nomination in LIC Jeevan Utsav
Option to take death benefit in installments:
Check list of documents
FAQ of LIC Jeevan Utsav
LIC Jeevan Utsav Plan

LIC Jeevan Utsav Plan 

Call us to buy Now

Ph 9910039879

Features of LIC Jeevan Utsav Policy 

  • It’s a whole life, guaranteed, Annual Income benefit,  insurance plan.  The customer has to pay the premium for limited number of years (5 to 16yrs) and the coverage continues for life that is till 100yrs or upto the death whichever is earlier.  
  • 10% of the sum assured will be payable whole life after the deferement period in the policy. 
  • Option to accumulate survival benefit @5.5% p.a. compounded yearly. 
  • Policyholder can withdraw the accumulated amount any time by just writting a letter and can withdraw 
  • It is best suited plan for yound kids, boys & Girls. This Plan can be gifted to spouse, sister or two anyone who want regular guaranteed income for life.  

Eligibility Criteria of Jeevan Utsav :

Criteria Minimum Maximum
Age Entry 90days 65Yrs
Age at the end of PPT 16yrs 75Yrs
Sum Assured 5,00,000 No Limit
Premium Paying Term 5yrs 16yrs
Deferent Period For 5yr PPT-5yr, For 6yr PPT-4yr, FOr 7yr PPT-3yr For 8yr to 16yr PPT-2yr

Minimum Installment Amount for different modes of payments being as under

Mode of Installment Payment Minimum Installment Amount
Monthly Rs 5,000/-
Quarterly Rs 15,000/-
Half Yearly Rs 25,000/-
Yearly Rs 50,000/-

Benefits Offered by LIC Jeevan Utsav Plan

Annual Income Benefit 

Income benefits starts at the age of minimum 18yrs. Income benefit payable at the end of policy year in which it falls due. That is the term and the premium paying term should be choosen accordingly.

Survival benefit 

Option I : Regular income benefit 10% of the basic sum assured at the end of each policy year.

Option II: Flexi income benefit 10% of the basic sum assured at the end of each policy year.  Flexibility to defer and accumulate such Flexi income benefit at 5.5% per annum compounded yearly for completed months from the due date, till the date of withdrawal or surrender or death, which ever is earlier. Policy holder on written request can withdraw once in a policy year, a maximum of 75% of balance accumulated Flexi income benefits, including interest if any, which has not already been withdrawn and net amount after withdrawal will continue to accumulate at 5.5% per annum compounding yearly.

Riders Available:

(1)LIC’s accidental death and disability benefit rider

(2)LIC is accident benefit rider

(3)LIC is term Assurance Rider

(4)LIC is critical illness benefit rider

(5)LIC is premium waiver benefit rider

Loan in LIC Jeevan Utsav

Up to 50% of Flexi income benefit due and not withdrawn is available

Death benefit in LIC Jeevan Utsav

Death benefit is equal to sum assured on death + accrued guaranteed additions, where sum assured on death is defined as higher of basic sum assured or seven times of the annualised premium. 

Paid up condition in LIC Jeevan Utsav Policy

Under a paid up policy,  where paid up sum assured is less than Rs 2 lakh on death of the life asured death benefit equal to death paid up sum assured along with accrued guaranted editions shall be payable to the nominee/beneficiary 

On survival of life assured regular income benefit of Flexi income benefits shall not be payable under a paid up policy where paid up sum assured is less than Rs 2 lakh  

Under a Paid up Policy, when Paid up sum assured is greater than equal to Rs 2lac

Paid up Sum AssuredRegular Income/flexi Benefit
Rs 2lac to Rs 2.99lac5% of Paid up Sum Assured
Rs 3lac to Rs 3.99lac6% of Paid up Sum Assured
Rs 4lac to Rs 4.99lac7% of Paid up Sum Assured
Rs 5lac & Above10% of Paid up Sum Assured

Nomination:  Multiple and successive nomination is possible 

Multiple Nomination: More than one nominee is possible in this plan and their share in the death claim can also be specified.

Successive nominations: Successive nominations are possible in this plan. That is if something happens to first nominee then death claim will be given to the second nominee and if something happens to first and second nominee then the death claim will be payable to the third nominee. 

Option to take death benefit in installments

This is an option to receive death benefit in installments over the chosen term. 5 years or 10 years or 15 years instead of lumps in amount under and inforce as well as paid up policy. 

Sample illustration of LIC Jeevan Utsav

A person aged 25 decided to buy LIC Jeevan Utsav for Sum Assured Rs 10,00,000 with premium paying term 12yrs. The annual income benefit will start from 14yrs that is from 39years of age. He decided to go for Option II flexi income plan. He is getting Rs 1 lac annually which is decided not to withdraw till 60yrs of age. At 60 he withdraws Rs32lac as lum sum at the age of 60. The policy continues and the illustration is as follows: 

LIC Jeevan Utsav Table No. 871

 Free Look Period/Grace Period  : 30days

Check list of documents to buy LIC Jeevan Utsav Plan

Photo
Age Proof : Pan, Aadhar, DL, School Certificate, Passport (any one)
Address Proof : Adhaar, DL, Voter Id, Passport, utility bill (any one)
Bank Detail: Cancel Cheque with name printed on it | Bank Passbook | Bank Statement (any one)
Nominee's Id proof: Pan, Aadhar, DL, Voter Id, Passport (any one)

LIC Jeevan Utsav Enquiry form:

[contact-form-7]

LIC's Top selling Policies

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Best LIC Policy for Husband and Wife: A Comprehensive Guide to LIC Jeevan Saathi https://lichelpline.com/new-lic-jeevan-saathi-plan/ https://lichelpline.com/new-lic-jeevan-saathi-plan/#respond Fri, 15 Sep 2023 13:00:53 +0000 https://lichelpline.com/?p=6116 Introduction to LIC Jeevan Saathi

LIC Jeevan Saathi is a special plan from the Life Insurance Corporation of India (LIC) designed for married couples it is said Best LIC Policy for Husband and Wife as per user reviews. This plan is like a joint savings and protection policy that covers both the husband and wife under one policy. It provides financial security by offering benefits in case of maturity or unfortunate events like death. So, it’s a life insurance plan that also helps you save for the future.

This policy looks out for both husband and wife, making sure their family is financially secure if something unexpected happens. You get to pick how you want to pay the premium – all at once, for a limited time, or regularly. With LIC Jeevan Saathi, if either or both of the policyholders pass away during the policy term, the nominee gets a payout. But, just so you know, this plan isn’t up for grabs anymore because the company stopped offering it. Keep reading to get all the info on LIC Jeevan Saathi Plan.
Note: LIC Jeevan Saathi (discontinued – Plan No. 89, UIN : 512N081V01)

LIC Jeevan Saathi Double Cover Joint Life Plan

The best LIC policy for husband and wife is the one that best meets their individual needs and financial goals. There are a number of factors to consider when choosing a policy, such as the age and health of the couple, their income and expenses, and their desired level of coverage.

One of the most popular LIC plans for husband and wife is the LIC Jeevan Saathi Plus (Plan No. 197). This is a unit-linked joint life insurance plan that provides coverage to both the husband and wife under a single policy. It offers a number of benefits, including:

  • Financial protection for both the husband and wife: In case of the death of either or both of the policyholders during the policy term, the nominee receives a death benefit.
  • Flexibility in premium payment options: Policyholders can choose to pay the premium in a single lump sum, over a limited period of time, or on a regular basis.
  • Maturity benefits: Upon maturity of the policy, policyholders receive a maturity benefit, which is the sum of the fund value and the guaranteed addition.

However, it is important to note that the LIC Jeevan Saathi Plus plan is no longer available for new purchase. LIC has discontinued this plan, but there are a number of other LIC plans that can be considered by couples.

Here are some other LIC policies that can be considered by husband and wife:

  • LIC New Jeevan Anand Plan (Plan No. 915)
  • LIC Jeevan Labh Plan (Plan No. 936)
  • LIC Jeevan Lakshya Plan (Plan No. 933)
  • LIC Jeevan Umang Plan (Plan No. 945)
  • LIC Aadhaar Stambh Plan (Plan No. 943)

It is important to consult with a financial advisor to determine the best LIC policy for your individual needs and financial goals.

Best LIC Policy for Husband and Wife in 2024

The best LIC policy for husband and wife in 2023 will depend on the specific needs and circumstances of the couple. However, some of the most popular LIC plans for husband and wife include:

  • LIC New Jeevan Anand Plan (Plan No. 915): This is a traditional endowment plan that offers a combination of life insurance and savings. It provides a guaranteed death benefit and maturity benefit, as well as bonuses.
  • LIC Jeevan Labh Plan (Plan No. 936): This is another traditional endowment plan that offers a combination of life insurance and savings. It provides a guaranteed death benefit and maturity benefit, as well as loyalty additions.
  • LIC Jeevan Lakshya Plan (Plan No. 933): This is a unit-linked insurance plan (ULIP) that offers a combination of life insurance and investment. It provides a guaranteed death benefit and maturity benefit, as well as the potential for investment returns.
  • LIC Jeevan Umang Plan (Plan No. 945): This is a whole life insurance plan that provides lifelong coverage and guaranteed benefits. It provides a guaranteed death benefit and maturity benefit, as well as bonuses.
  • LIC Aadhaar Stambh Plan (Plan No. 943): This is a term insurance plan that offers affordable life insurance coverage. It provides a guaranteed death benefit in case of the policyholder’s death during the policy term.

Couples should consult with a financial advisor to determine the best LIC policy for their individual needs and financial goals.

Eligibility Criteria of LIC Jeevan Saathi

Minimum Entry Age18 years
Maximum Entry Age55 years
MaximumMaturity Age70 years

Benefits of LIC Jeevan Saathi Policy

Tax Benefits:

You get a break on taxes! The premiums you pay for this plan are tax-exempt under Section 80 C of the Indian Income Tax Act. Even the maturity amount is tax-free. Just keep in mind, tax rules can change.

*Standard T&C Apply.

Maturity Benefits:

When the policy matures, the promised amount along with any bonuses you’ve earned is handed over to you. It’s like a savings reward for sticking with the plan. If one person survives the policy term, they still get the benefits.

Death Benefits:

If one partner sadly passes away during the policy term, the guaranteed amount is given to the surviving partner. Plus, they don’t have to worry about paying future premiums. If the surviving partner also passes away, the assured amount and any earned bonuses go to the nominees. Any extra financial perks are included too.

Optional Benefits:

Want more coverage? LIC Jeevan Saathi lets you add extra protection with optional riders. Just pay a bit more in premiums for that added peace of mind.

  • 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. Such bonuses are to be added till date of maturity or the second death of the lives covered, whichever is earlier. Final (Additional) Bonus may also be payable provided policy has run for certain minimum period.

Premium Payment Structure for LIC Jeevan Saathi Plan

Regular Premium Payment:

You’ve got options! Pay your premium every year, every quarter, every half-year, or every month (only through ECS – Electronic Clearing System). Choose what works for you.

Single Premium Payment:

Keep it simple with a one-time payment. For those who prefer to settle things in one go.

Minimum Premium Amounts:

For Regular Premium Payment:

  • Policy term of fifteen to twenty years: Rs. 10,000 per annum
  • Policy term of ten years: Rs. 15,000 per annum

For Monthly ECS Mode:

  • Policy term of fifteen to twenty years: Rs. 1,000 per month
  • Policy term of ten years: Rs. 1,500 per month

For Single Premium Payment:

  • A minimum of Rs. 40,000 is all it takes.

Documents Required

Every insurance plan comes with specific document requirements. For LIC Jeevan Saathi, the following standard Documents are necessary when purchasing a life insurance plan:

  • ID proof
  • Address proof
  • Income proof
  • Passport size photo of the policyholder

For raising a claim, specific documents under LIC Jeevan Saathi include:

  • Claim form 3783
  • Death certificate
  • Policy documents
  • FIR copy (if applicable)
  • Post-mortem report (if applicable)
  • Coroner’s report (if applicable)
  • Proof of title (if applicable)

For claiming maturity, necessary documents include:

  • Claim discharge voucher
  • Identity proof
  • Bank details

The Process to Buy Online

You can still buy this policy till Dec. 2023 as the LIC has issued a Date of Withdrawal on : 01.01.2014

Key Exclusions of the Plan

Explore specific exclusions mentioned for the LIC Jeevan Saathi policy. Notably, in cases of suicide within one year, the Corporation will not provide any claim, except for the Policyholder’s Fund Value upon death.



FAQs: Your Queries Answered

Q1: Can I buy LIC Jeevan Saathi if I’m not married?
Absolutely! While it’s designed for couples, single individuals can also avail of this plan.

Q2: What happens if both spouses pass away simultaneously?
In such a scenario, the sum assured is paid to the nominee, ensuring that your loved ones are financially secure.

Q3: Can I surrender my LIC Jeevan Saathi policy?
Yes, you can surrender your policy, but it’s advisable to consult with LIC for a better understanding of the surrender value and implications.

Q4: How are the bonuses calculated?
Bonuses are calculated based on the sum assured and the policy’s performance. LIC announces these bonuses annually.

Q5: Can I change the nominee of my policy?
Yes, you can change the nominee at any time during the policy term by contacting LIC and filling out the necessary forms.

In conclusion, LIC Jeevan Saathi is not just an insurance policy; it’s a promise of financial security and stability for you and your loved ones. With its unique features, flexibility, and tax benefits, it’s a smart choice for those who want the best of both worlds – protection and savings. So, why wait? Secure your future today with LIC Jeevan Saathi!

LIC Resources

Buy LIC Policies OnlineLIC Policies ServicingLIC Agent’s resources
LIC’s SIIPPay Premium OnlineJoin LIC as Advisor
Term Plan with ROPAddress CorrectionIC-38 Study Material
LIC 5 Year PlanSurrender of LIC PolicyAgents training Academy
LIC Jeevan UmangLIC Branch ChangeMock Test IC 38
LIC pension PlanNomination ChangeLIC Forms
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5 Best LIC Policy for Working Women https://lichelpline.com/lic-policy-for-working-women/ https://lichelpline.com/lic-policy-for-working-women/#respond Fri, 15 Sep 2023 11:39:38 +0000 https://lichelpline.com/?p=6090 Best LIC Policy for Working Women : Secure Your Financial Future

In today’s fast-paced world, financial security is a top priority for everyone, especially working women who juggle multiple responsibilities. Life Insurance Corporation of India (LIC) offers a range of policies designed to cater to the unique needs of working ladies. The best LIC policy for working ladies provide financial protection, investment opportunities, and peace of mind to women in the workforce.

Understanding the Needs of Working Ladies

Financial Independence

One of the primary concerns for working women is achieving financial independence. LIC policies offer a solid foundation for building financial security. This is one of the most important point which is available in LIC policy for working ladies.

Life Coverage

Life is uncertain, and ensuring that your loved ones are financially secure in your absence is crucial. LIC policies provide substantial life coverage benefits.

Tax Benefits

LIC policies come with tax advantages under Section 80C and 10(10D) of the Income Tax Act, making them an attractive investment option.

Investment Opportunities

Working women often seek investment avenues that offer potential returns. LIC policies combine insurance with investment opportunities.

The Best LIC Policies for Working Ladies

Now, let’s delve into the specific LIC policies that are most suitable for working women:

LIC Jeevan Labh

LIC Jeevan Labh is a popular choice, offering a blend of savings and protection. It provides a lump sum amount at maturity, making it ideal for long-term financial goals.

LIC New Money Back Plan

This plan offers periodic money-back benefits while ensuring life coverage. It suits working women looking for regular returns.

LIC Jeevan Anand

LIC Jeevan Anand is a whole-life insurance plan with an attractive bonus feature. It provides financial support throughout your life.

LIC Jeevan Kiran

For insurance minded females, LIC Jeevan Kiran is the pure term plan with return of premium. Whatever premium will be paid in this plan throughout the term, it will be returned at the end of term.

LIC Jeevan Umang

This is one of the best LIC policy for working ladies. The policyholder keep on getting a regular income life long tax free with whole life insurance cover. Pay Rs 2 lac for 15 years and get Rs Rs 2lac life long tax free.

Factors to Consider

Premium Affordability
Evaluate your financial situation and select a policy that matches your budgetary constraints.

Coverage Amount
Determine the appropriate coverage amount based on your financial responsibilities and future needs.

Policy Term
Consider the policy term carefully; it should coincide with your financial goals, such as retirement or your child’s education.

Riders
Explore optional riders like critical illness or accidental death benefit to enhance your coverage.

Conclusion
In conclusion, securing your financial future as a working lady is essential, and LIC offers a range of policies tailored to your needs. Whether you prioritize financial independence, life coverage, or investment opportunities, there’s a LIC policy for you. Evaluate your requirements, choose wisely, and take a step towards a more secure tomorrow.

Frequently Asked Questions

FAQ 1: Can I purchase LIC policies online?
Yes, LIC offers several policies that can be conveniently purchased online, catering to the tech-savvy working woman.

FAQ 2: Are LIC policies tax-efficient?
Absolutely! LIC policies provide tax benefits under Section 80C and 10(10D) of the Income Tax Act, helping you save on taxes.

FAQ 3: What is the key advantage of LIC Jeevan Anand?
LIC Jeevan Anand provides coverage for your entire life, ensuring lifelong financial support.

FAQ 4: Can I customize my LIC policy with additional riders?
Yes, LIC policies allow you to enhance your coverage with optional riders, such as critical illness or accidental death benefits.

FAQ 5: How do I determine the right coverage amount?
To determine the right coverage amount, consider your financial responsibilities and future goals, such as education and retirement, and choose accordingly.

In this comprehensive guide, we’ve highlighted the best LIC policies for working ladies, helping you take a step towards a financially secure future. Remember, choosing the right policy depends on your individual needs and goals, so make an informed decision to safeguard your financial well-being.

LIC Resources

Buy LIC Policies OnlineLIC Policies ServicingLIC Agent’s resources
LIC’s SIIPPay Premium OnlineJoin LIC as Advisor
Term Plan with ROPAddress CorrectionIC-38 Study Material
LIC 5 Year PlanSurrender of LIC PolicyAgents training Academy
LIC Jeevan UmangLIC Branch ChangeMock Test IC 38
LIC pension PlanNomination ChangeLIC Forms

LIC’s Top Selling Policies

LIC Jeevan Umang
LIC Jeevan Umang
LIC Child Plan
LIC Child Plan
LIC pension plans
LIC pension plans
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LIC Jeevan Anand Plan Complete Detail in Hindi and English https://lichelpline.com/lic-jeevan-anand/ https://lichelpline.com/lic-jeevan-anand/#respond Fri, 15 Sep 2023 10:11:57 +0000 https://lichelpline.com/?p=6042

Best Plan for Individuals : Pension cum investment LIC Jeevan Anand

Regular Premium | Participating | Non- Unit Linked Assurance Plan | insurance-cum-investment | Whole life 

Smart Financial Planning: Maximizing LIC Jeevan Anand for a Secure Future : Pay Rs 6000 p.m. & Get Rs 1Cr 16Lakh on retirement and whole life insurance cover of Rs 23,80,000

LIC Jeevan Anand: A Smart Choice for Young Professionals in India

India’s financial landscape is dynamic, and young professionals often find themselves juggling multiple financial obligations. From education loans to family expenses, these responsibilities can grow rapidly. Amidst this whirlwind of responsibilities, it can be difficult to prioritize personal savings and investments. However, smart financial planning is essential, especially during one’s formative years.

Why is Retirement Planning Important?

Retirement planning is a crucial aspect of financial planning, often overlooked until it becomes a pressing concern. The reality is that there are limited pension provisions in India, especially beyond the age of 60. This is true for individuals employed in the public sector, private industry, and even self-employed individuals. Therefore, initiating a robust retirement savings strategy early is imperative.

Benefits of LIC Jeevan Anand for Young Professionals

LIC Jeevan Anand is a life insurance plan that offers a combination of insurance coverage, tax benefits, and loan provisions, making it a smart choice for young professionals in India. Here are some of its key benefits:

  • Comprehensive insurance coverage: LIC Jeevan Anand provides comprehensive insurance coverage, starting from ₹3,000,000. This coverage increases with time and can reach up to ₹11,110,000 by the age of 57. Additionally, the plan includes accidental coverage, which begins at ₹2,300,000 and can soar to a staggering ₹88,330,000.
  • Tax benefits: LIC Jeevan Anand is an eligible investment for tax deductions under Section 80C of the Income Tax Act. This means that policyholders can deduct up to ₹1.5 lakhs from their taxable income every year, making the plan even more affordable.
  • Loan provisions: LIC Jeevan Anand policyholders can avail loans against their policies at lower interest rates than traditional bank loans or credit card debt. This can be a valuable feature in times of financial need.
  • Affordable premiums: LIC Jeevan Anand offers affordable premiums, starting at just ₹65,000 per year for a 23-year-old individual. This makes it an accessible investment option for young professionals with limited financial commitments.

Advantages of Starting Early

There are several advantages to starting LIC Jeevan Anand early, including:

  • Lower premiums: Younger individuals typically pay lower premiums for life insurance policies. This is because they are considered to be lower risk.
  • Favorable medical results: Medical examinations for life insurance policies are typically easier to pass at a younger age. This is because individuals are generally healthier at a young age.
  • Longer compounding period: The earlier you start investing, the longer your money has to compound. This means that your savings can grow significantly over time.

Helpful Tips for Readers

  • Compare different life insurance plans: Before choosing LIC Jeevan Anand, compare it with other life insurance plans available in the market to find the best plan for your needs.
  • Consider your financial goals: When choosing a life insurance plan, it is important to consider your financial goals. For example, if you are saving for retirement, you will need a plan with a longer policy term.
  • Read the policy document carefully: Before purchasing any life insurance plan, read the policy document carefully to understand the terms and conditions of the plan.
  • Seek professional advice: If you are unsure about which life insurance plan is right for you, seek professional advice from a financial advisor.

LIC New Jeevan Anand 915 Plan – Key Features

LIC New Jeevan Anand Plan 915, previously known as LIC Plan 149, is a comprehensive whole-life endowment plan offered by Life Insurance Corporation of India (LIC). This participating policy not only provides financial security but also allows policyholders to participate in the profits of the company. Here are the key features of this plan:

1. Participating Whole-Life Endowment Plan

LIC New Jeevan Anand 915 is a participating whole-life endowment plan, which means that it combines assured benefits with the potential for earning profits.

2. Premium Payment Options

Policyholders have the flexibility to choose regular premium payment options to suit their financial needs.

3. Maturity Benefit

Upon survival until the end of the plan term, policyholders receive the maturity benefit, which includes the basic sum assured and any applicable bonuses.

4. Lifelong Coverage

This plan provides lifelong coverage, ensuring that the risk coverage continues until the policyholder reaches the age of 100. In the event of the policyholder’s demise during the policy term or after, the death benefit is paid out.

5. Bonus Amount

Policyholders receive benefits along with a bonus amount, enhancing the overall earnings of the insured.

6. Rider Options

LIC New Jeevan Anand 915 offers optional rider benefits for added protection, including coverage against natural death, accidental death or disability, and critical illnesses.

LIC New Jeevan Anand 915 Plan Benefits

Death Benefit

Nominees can claim death benefits if all due premiums have been paid. The death benefit includes:

  • 125% of the Base Sum Assured or 7 times the annual premium amount, whichever is higher at the time of death during the policy tenure.
  • The final additional bonus and simple reversionary bonuses are added to this amount.
  • If death occurs after the maturity date, only the basic sum assured is payable.

Maturity Benefit

Surviving policyholders, who have paid all due premiums until the maturity date, receive the basic sum assured along with any applicable bonuses. They can choose to receive this amount in a lump sum or installments over 5, 10, or 15 years.

Participation in Profits

LIC shares profits with policyholders in the form of a simple reversionary bonus. Additionally, a final additional bonus may be declared based on the company’s experience during the policy term. Please note that these bonuses are not guaranteed.

Loan Facility

Policyholders can avail of a loan against the policy once it acquires a surrender value. The maximum loan amount is typically a percentage of the surrender value.

Tax Benefits

The LIC New Jeevan Anand policy offers tax benefits on the premium paid and claims received under Sections 80C and 10(10D) of the Income Tax Act.

LIC New Jeevan Anand 915 – Eligibility

CriteriaMinimumMaximum
Entry Age18 years50 years
Maturity Age75 years
Policy Term15 Years35 years
Sum Assured1 lacNo Limit
Premium Payment TermSame as Policy Term
Premium Paying FrequencyAnnual/Half Yearly/ Quarterly/ Monthly

Riders Benefits with LIC New Jeevan Anand – Plan No. 915

Four optional riders are available for extra protection:

  1. LIC Accidental Death and Disability Benefit
  2. LIC Accident Benefit Rider
  3. LIC New Term Assurance Rider
  4. LIC New Critical Illness Benefit Rider

These riders provide an additional sum assured amount on top of the assured death benefit. Policyholders can select a maximum of three of these options.

How Does LIC New Jeevan Anand Policy Work?

Let’s illustrate the working of the LIC New Jeevan Anand policy with an example:

Example:

  • Policyholder: Mr. Mathur, 30 years old
  • Policy Details:
    • Policy Term: 25 years
    • Sum Assured: Rs. 20 lakhs
    • Premium Payment Term: 20 years
    • Premium Amount: Rs. 25,000 per year

Working:

  • As long as Mr. Mathur pays the premiums regularly, he has life insurance coverage for 25 years.
  • In case of his demise during the policy term, the nominee receives the sum assured of Rs. 20 lakhs.
  • If Mr. Mathur survives the 25-year term, he is eligible for the maturity benefit, which includes the sum assured and any accumulated bonuses.

LIC New Jeevan Anand 915 – Additional Plan Details

Grace Period

A grace period of 15 to 30 days is provided for premium payment. If premiums are not paid during this grace period, the policy may lapse.

Revival of Lapsed Policies

Lapsed policies can be revived within 5 years from the due date of the first unpaid premium, but it must be done before the maturity date.

Free Look Period

Policyholders have a 15-day free look period during which they can cancel the plan if it doesn’t meet their needs.

Policy Termination or Surrender Benefit

After two policy years, the policy acquires a surrender value and a paid-up value. Even if premiums are not paid after 2 years, a percentage of the benefits/premiums is still available. Surrendering the policy after the chosen policy term ends doesn’t result in losses.

Sample Premium Rates of LIC New Jeevan Anand 915 Plan

The below table illustrates the annual premium rates in Rs. for a basic sum assured of Rs. 1 Lac for standard lives under LIC New Jeevan Anand plan 915:

AgePolicy Term
152535
20 years774743412935
30 years808045813165
40 years864450373636
50 years95755846

The above premium rates are exclusive of taxes*

Exclusions of LIC New Jeevan Anand Plan 915

In the unfortunate event of suicide within 12 months of the policy’s inception, 80% of the premiums paid to date will be returned to the nominee. After the policy’s renewal, the higher of 80% of the paid premium amount or the acquired surrender value is paid in case of death.

Required Documents for Buying LIC New Jeevan Anand 915

To purchase the LIC New Jeevan Anand 915 plan, you will need the following documents:

  • Correctly filled Application/Proposal form
  • Address Proof
  • Age Proof
  • Other KYC documents (PAN Card, Aadhaar Card, Tax Details, etc.)
  • Medical History
  • Medical Diagnosis Reports as required

This comprehensive explanation of LIC New Jeevan Anand 915 Plan and its features should help you make an informed decision when considering life insurance options.

People Also Ask

Q. What is the minimum age to apply for LIC Jeevan Anand?
The minimum age to apply for LIC Jeevan Anand is 90 days and the maximum age is 50 years.

Q. What is the minimum sum assured for LIC Jeevan Anand?
The minimum sum assured for LIC Jeevan Anand is ₹3,000,000.

Q. What is the maximum sum assured for LIC Jeevan Anand?
The maximum sum assured for LIC Jeevan Anand is ₹10,000,000.

Q. What is the premium payment frequency for LIC Jeevan Anand?
LIC Jeevan Anand premiums can be paid annually, half-yearly, quarterly, or monthly.

Q. What is the loan facility available for LIC Jeevan Anand?
LIC Jeevan Anand policyholders can avail loans against their policies after paying premiums for two continuous years. The loan amount can be up to 90% of the surrender value of the policy.

Q. What are the tax benefits of LIC Jeevan Anand?
LIC Jeevan Anand is an eligible investment for tax deductions under Section 80C of the Income Tax Act. This means that policyholders can deduct up to ₹1.5 lakhs from their taxable income every year.

Q. What are the riders available for LIC Jeevan Anand?
LIC Jeevan Anand offers the following riders:

  •  Accidental Death and Disability Benefit Rider
  •  Term Rider
  •  Critical Illness Benefit Rider
  •  Waiver of Premium Benefit Rider

Q. Can I buy LIC Jeevan Anand online?
Yes, you can buy LIC Jeevan Anand online on the LIC website.

Disclaimers: 
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^Tax benefit are for Investments made up to Rs.2.5 L/ yr and are subject to change as per tax laws.
+Returns Since Inception of LIC Growth Fund

Illustration of LIC Jeevan Anand plan for a person aged 22 for 35years term.
Best Plan for Individuals : Pension cum investment LIC Jeevan Anand
Best Plan for Individuals : Pension cum investment LIC Jeevan Anand
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LIC's Best Plan for individuals LIC Jeevan Anand 3
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18. LIC Jeevan Anand Enquiry form:

[contact-form-7]

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How to Update contact details in your LIC Policy https://lichelpline.com/update-your-contact-details-in-your-lic-policy/ https://lichelpline.com/update-your-contact-details-in-your-lic-policy/#respond Sat, 09 Sep 2023 17:04:39 +0000 https://lichelpline.com/?p=6020

Update your contact details in your LIC Policy

These days to update your contact details in your LIC policy is just a click away. Now you can do it online. Follow these simple steps and it will be done in a minute.

Things you need to keep ready for updating your contact details in your lic policy are

  1. Policy numbers
  2. Full name which you have in your LIC poilcy
  3. Date of Birth the same date of birth as per your LIC records
  4. Mobile number
  5. Email id

Read the entire article and click on the link below to proceed to update your contact details on LIC official site.

https://licindia.in/update-your-contact-details-online

Step 1: As soon as you will click on the link, it will take you to the LIC’s official site. Then you have to click on the link update your contact details.

how to update your contact details in your LIC policy

Step 2: once you click on the link, a new page will open as shown in the image below

how to update your contact details in your LIC policy

Step 3: Fill the details in it as you have in your LIC policy. For that it is always advisable to keep your premium receipt or policy bond near you.

How to Update contact details in your LIC Policy

Step 4: If all the information give by you is correct then a next step is to put the LIC policies in which you want to update the records. You can update upto 10 policies at one go. Enter the policy numbers and click on the link validate policy details.

If the details of your policies are correct then you can see request status successfull. And then the next step is send the request.

How to Update contact details in your LIC Policy

Step 5: On clicking on send request, you will get request number and records will be updated in your LIC policies. If there will be any clarification required by LIC officials, then they may call you. Hence the process of updating your contact details in your LIC policy is complete.

How to Update contact details in your LIC Policy

If the data entered in Step 4 is not correct or mismatched then it will show the following error. And you have to start the process again with correct contact details and policy numbers.

How to Update contact details in your LIC Policy

In case you still not find the details then you can sms to the number 9222492224 given below. or start refresh.

How to Update contact details in your LIC Policy
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The Best LIC Policy https://lichelpline.com/the-best-lic-policy/ https://lichelpline.com/the-best-lic-policy/#respond Fri, 25 Aug 2023 08:56:59 +0000 https://lichelpline.com/?p=5984

The Best LIC Policy

High Returns | High Insurance coverage | Flexibility | Guaranteed Addition | Pension | Short term 

LIC policies are designed to provide best features to the policyholders. Every individual has different requirement, based on their requirements different policies can be best for him. LIC offers a wide range of life insurance products, each designed for different purposes, Some of the best plans and their key features are as follows:  

LIC Term Insurance Plans: If your primary goal is to provide financial protection to your family in case of your untimely demise, term insurance plans are a good choice. These plans provide a high life cover at a relatively low premium.

Two popular plans are:

  1. LIC Jeevan Amar
  2. LIC Jeevan Kiran

LIC Endowment Plans: If you want both insurance coverage and savings, LIC’s endowment plans can be considered. These plans provide a lump-sum payout at maturity or on the insured’s death. Popular options include

  1. New Endowment Plan
  2. Jeevan Lakshya
  3. Jeevan Labh
  4. New Jeevan Anand
  5. Jeevan Umang

LIC Whole Life Insurance Plans: These policies provide coverage for your entire life, making them suitable for long-term financial planning and legacy creation.

  1. New Jeevan Anand
  2. Jeevan Umang

LIC ULIPs (Unit Linked Insurance Plans): If you want to invest in the stock market while also having insurance coverage, ULIPs are an option.

  1. LIC’s New Endowment Plus 
  2. Nivesh Plus
  3. LIC’s SIIP

LIC Pension Plans: These plans are designed to provide a regular income post-retirement. The most well-known plans are:

  1. Jeevan Umang
  2. Jeevan Akshya 7
  3. Jeevan Shanti 

LIC Child Plans: If your goal is to secure your child’s future, LIC offers child insurance plans like

  1. the New Children’s Money Back Plan.
  2. LIC Jeevan Tarun
  3. Jeevan Lakshya
  4.  Jeevan Umang

Choosing the best LIC policy involves considering your financial objectives, risk tolerance, and budget. It’s also a good idea to consult with us to help you assess your needs and recommend the most appropriate LIC policy based on your circumstances.

Why one should buy LIC Policies?

LIC is a the best life insurance company in India, and its policies  have best features, highest bonus rates, best death claim ratio, It is no.1 trusted brand in India for many years. Its traditional policies are backed by the sovereign guarantee of the Central government.  LIC’s Sovereign Guarantee enhance financial stability and trust in LIC Policies.

What is “sovereign guarantee” of LIC?

A sovereign guarantee is a promise or assurance provided by a central government, to back the financial obligations or liabilities of a government-owned entity or a state-owned enterprise. In the context of LIC, it means that the Indian government stands behind LIC to fulfill its financial obligations. That in case of any bankruptcy, Central govt will be responsible for the people’s money. LIC of India is the safest financial institution in India even more safer than your bank. 

buy LIC policy for NRI

Fill the Enquiry form to consult with us for the best suited plan for you. 

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Cooling off LIC Policy https://lichelpline.com/cooling-off-lic-policy/ https://lichelpline.com/cooling-off-lic-policy/#respond Mon, 21 Aug 2023 15:31:12 +0000 https://lichelpline.com/?p=5848

Cooling off LIC Policy

LIC policy returned | Within 15days of Policy bond receiving | Documents required | Request Letter | Bank Details

COOLING OFF LIC POLICY

A “cooling-off period” refers to a specific period of 15days during which a policyholder can cancel his life insurance policy and receive a full refund of the premiums paid without incurring any penalties or charges.

During this cooling-off period, policyholders have the opportunity to review the terms and conditions of their insurance policy more thoroughly. If they decide that the policy doesn’t meet their needs or if they change their mind for any reason, they can contact the insurance company, formally request cancellation, and receive a full refund of the premiums paid.

Documents required for Cancellation of LIC Policy during Cooling off period
  1. Request Letter: The policyholder usually needs to submit a written request for cancellation during the cooling-off period. This request should be made to the LIC branch or agent through whom the policy was purchased.
  2. Original LIC Policy Bond : The policyholder should return the original policy document along with the cancellation request.
  3. Original LIC Policy Receipt : The policyholder should return the original First Premium Receipt
  4. Id Proof: Any of Pan, Addhar, DL, Voter Card, Passport, etc.
  5. Bank Details: Cancel Cheque which has the name printed on it or Bank Statement or Bank Passbook showing the customers name, Bank Account Number, MICR Code and IFSC Code

Format for written request Letter for cooling off LIC Policy

[Your Name]
[Your Address]
[City, State, ZIP Code]
[Your LIC Policy Number]
[Date]

[The Branch Manager / Customer Service Department]
[Name of LIC Branch]
[Address of LIC Branch]
[City, State, Pin Code]

Subject: Cancellation Request for LIC Policy No. [Your Policy Number] in the cooling off period

Dear Sir/Madam,

I am writing to request the cancellation of my LIC policy, Policy No. [Your Policy Number], which was issued on [Date of Policy Issuance]. I am exercising my right to cancel the policy within the cooling-off period as provided by the terms and conditions of the policy. I also state that whatever terms and conditions were told by the advisor they are not available in this policy. 

I have enclosed the original policy document and original premium payment receipt for your reference. Please find the necessary details below:

– Policyholder Name: [Your Full Name]
– Date of Birth: [Your Date of Birth]
– Address: [Your Address as per Policy]
– Contact Number: [Your Contact Number]
– Email Address: [Your Email Address]
– Bank Account Details for Refund : [Your Bank Account Number, IFSC Code, and Bank Name]. I have also enclosed the canceled cheque or self-attested copy of the bank passbook or bank statement. 

I hereby also state that I have not taken any kind of tax benefit from this policy.

I kindly request that you process this cancellation request as soon as possible and arrange for a full refund of the premiums paid to the bank account mentioned above. I understand that no charges or penalties should be applied since this request is made within the stipulated cooling-off period.

Thank you for your prompt attention to this matter.

Sincerely,

[Your Signature]

[Your Full Name]

Enclosures: Original Policy Document, Premium Payment Receipt, Id proof, Bank details

Note 1: This is the right of the policyholder and do remember to send this letter to the LIC branch where you purchased the policy via certified mail or a reliable courier service to ensure it’s received. Keep copies of all correspondence for your records, and follow up with LIC to ensure the cancellation and refund are processed as requested. 

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Revival of LIC Lapsed Policy https://lichelpline.com/revival-of-lic-lapsed-policy/ https://lichelpline.com/revival-of-lic-lapsed-policy/#respond Sun, 20 Aug 2023 15:37:11 +0000 https://lichelpline.com/?p=5798

Revival of LIC Lapsed Policy

Procedure | Forms | Type of Revival | Grace Period | Documents Required 

When the premium of inforced policy is not paid timely that is on the due date or within the grace period, the LIC policy got lapsed. Lapsation means risk cover is stopped temporarily for a period until the policy is not revived. During lapsation, the policyholder does not get the full benefits of the LIC policy. Even in case of death, no claim is paid to the nominee of the life assured except the paid value. So to get the full benefits, the revival of lapsed LIC policy is must.

Grace Period: The grace period is the additional time period given in LIC policy after the due date, that is if the full premium is paid within this period neither late fees is applied nor the policy will be lapsed.

Grace period in Endowment policy if the premium mode is yearly, Half-yearly, or Quarterly: 30 days.

Grace period in Monthly policies, ULIPS, and Term plans is just 15 days.

An inforce LIC policy is like an umbrella for the family of the policyholder but a lapsed LIC policy is like a torn umbrella. It neither helps the policyholder nor its family members in any manner. 

Revival of LIC Lapsed Policy

Note: A policy can be revived within 2 years from the FUP and before the maturity of the LIC policy. FUP stands for First Unpaid Premium. After 2 years, the policy can not be revived in any circumstances.

Steps to restart the LIC lapsed policy

  1. Pay the total due premium amount: Premium amount + Late fees 
  2. Get the revival quotation of the lapsed policy from the nearest branch. 
  3. Fill the revival form    a)Form no. 680 DGH for those aged 18 & above                                            b) Form no. 700 720  for aged less than 18yrs 
  4. Id proof: Any of Pan, Adhar, Voter Id, DL, Passport
  5. Address proof: Adhar, Voter Id, DL, Passport, any utility bill
  6.  
Note 1: If the age is more or the sum assured is higher than a particular amount then the LIC underwriter may ask the policyholder to go for medical tests. These test details will be shared by the LIC officer in the branch. 
Note 2: Form no. 680, 700 or 720 mentioned above are downloadable in just 1 click. 

Types of Revival

Ordinary Revival: It is the most basic kind of revival where the policyholder has to pay the entire premium due from FUP along with late fees in one go. The above-mentioned documents are also required to be submitted at the time of revival.

Loan cum Revival: When the policyholder is unable to pay the total premium due along with the late fees as mentioned in ordinary revival, then he can go for loan cum revival. The loan is calculated on the policy and given to the customer and his policy is revived. After that, the customer has to pay both the premium and loan amount together in installments. At the time of loan cum revival the policyholder needs to carry the Original policy bond, NEFT form, and loan form along with the documents mentioned above. 

SB cum Revival: This kind of revival is possible only in moneyback policies where money back is fall due in a certain time. The moneyback is adjusted in the revival amount and the policy is revived. Note: Discharge form is taken along with NEFT form and bank details. 

Procedure to be followed in LIC Branch

Visit the inquiry counter or the Policy servicing department (PS dept) in the LIC branch. Ask for policy revival quotation and form no. 680 as mentioned above. you can download this form by clicking on form no. 680. The branch official will provide you with the revival quotation. Fill the form no. 680. Note that fill the same details in form no. 680 as you filled in at the time of taking the LIC policy, like Height Weight and signature. Visit the PS dept of LIC they will verify the details and after that by paying the total premium due at the counter the policy will start again.

Note: Policies of SA more than 5lac are being uploaded by the staff on the DOC Q app.

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