LIC's jeevan nivesh plan for international

Life Insurance Corporation(International)'s 3 years guarenteed addition single premium plan Jeevan Nivesh . Jeevan Nivesh plan is launched in 25.05.2014 ,its such a good beneficiary plan for who is staying in abroad. FEATURES OF JEEVAN NIVESH: Minimum Basic SA: $ 2500 thereafter in multiples of $1000 Maximum SA : No Limit Premium Mode : Single Term : 3 years Age Limit : Minimum 15 and maximum 70 Guarenteed Addition : $ 32.50 Per thosand of sum assured and Top up Maturity Benefit :Basic SA + Top up premium +Guarenteed Addition Death Benefit : Double Basic SA+ Top Up Premium +Guarenteed Addition on Top Up Premium Surrender Value :The Policy Can be Surrender af1ter one Year.

Varishtha Pension Bima Yojna by Govt.of India - table no 828

Varishtha pension Bima yojna- New plan relaunch for 1 year (15th august 2014 to 14th august 2015). for the welfare of the senior citizens of our country, the Govt. of India announces a subsidized and attractive pension scheme with LIC.

Eligibility for Varishtha pension Bima Yojna  :
      Age 60 and Above.
      Single lump sum premium 
      Minimum RS 66,665
      Maximum RS 6,66,665
     Minimum Pension RS 500 per month
     Maximum Pension RS 5000 per month
     Assumed Return of 9% monthly (9.38% Annually)
     Pension payment period - monthly, quarterly, half yearly and yearly
    on Death of the pensioner, Nominee will receive the purchase price .

Best plan Introduced by BJP Govt., its a best gift one can give to his old parents , because  it offers  long time confirm pension, which will help old person to pay his medical bills or to spend on social responsibilities..but amount increased to make 10000/ month pension..  

LIC claim settlement for jammu and kashmir flood victims

LIC has relaxed claim settlement procedure for those affected in floods in Jammu and Kashmir and a special help desk has been set up for expeditious claim processing .LIC has extended concessions and relaxations to claimants with respect to settlement of death and disability benefit claims.

These concessions are in the nature of simplified death claim settlement, proof of death or missing, loss of policy documents etc, similar to concessions and relaxations extended to the victims of floods and land slides in Uttarakhand in June 2013. For policy holders residing in the flood affected areas , LIC has extended waiver of interest in the overdue premium.

LIC has set up a special help desk at Srinagar divisional office and northern zonal at new Delhi to facilitate expeditious settlement of clams.
 This is the 2nd time LIC proofing , LIC is the best and biggest insurance company in India. 1st is in the Uttarakhand flood in June 2013 and this is the 2nd time we are proofing in Jammu and Kashmir .so , everyone can see the different between private insurance company and LIC. Natural disaster couldn't inform you and come, before that secure your family with LIC . if you still not secure your family ,just take a insurance policy and secure your family because you don't know after you , where your family will stand. so if you want to find best policy in LIC , visit www.licpolizy.com . you can find any type of policy whichever perfect for your family. you can calculate premium and maturity in this website.

These are the 2 examples ( Uttarakhand floods and jammu and kashmir floods) warning for that persons who are still not secure their family. may be in future  this type of natural disaster will happen with your family. so just take a right decision for your family.

Benefits of LIC life insurance

Life insurance provides the dual benefits of saving and security, along with saving and security, life insurance showers you with many more benefits and help you and your dependents lead a happy and carefree life.

LIFE RISK COVER:
                                 Life insurance provides you with a high life risk cover. Life today is full of uncertainties, in this scenario life insurance ensures that your loved once continue to enjoy a good quality of life against any unforeseen event.in case of any untoward happening to the insured, the insurer pays up the entire amount. i.e the sum assured with bonus to the bereaved family. Life insurance also safeguards interest of people who have diminishing incomes with advancing age, people who meet with accidents or for retired people. there are numerous policies available with LIC and you can choose the policy that will best suit your requirements.

GOOD RETURNS ON INVESTMENT:
                                 Life insurance is a long term saving investments. LIC life insurance schemes yield better when compared to other investment alternatives. most of the LIC life insurance schemes offer bonuses that no other investment schemes can offer. the invested in LIC is safe and cover risks. the money invested in LIC is fully as sum assured either after completion of the term or after the demise of the insured. both way the money invested and the returns are paid back safely.

TAX BENEFIT:
                         Most of the LIC plans provide attractive tax benefits both for the premium paid and also for the Maturity/ Death returns. Under section 80 C of the Income Tax Act is an Effective way life insurance are subject to rebate.currently , the amount available for rebate under section 80 C is RS 1,00000 which can be invested in life insurance premiums , pension superannuation fund, Employee provident fund, Equity linked mutual fund schemes, national saving certificates and public provident fund.

LOAN OPTIONS:
                          Policy holder having the option of taking Loan against the LIC policy after 3 years of taking policy date with very low interest  rates up to 9.5% per annul.this helps you meet your unplanned life stage needs without adversely effecting the benefits of the policy they have bought.

PLANNING FOR LIFE STAGE :
                           Life insurance not only provides for financial support in the event of untimely death but also acts as a long term investments, you can meet your goals, be it yours children's education,their marriage, building your dream home or planning a relaxed retired life , according to your life stage and risk appetite. Traditional LIC policies, that is traditional Endowment plan, offer
in-built guarantees and defined maturity benefits through variety of product options such as money back plans, guaranteed bonus addition , guaranteed maturity values.

ASSURED INCOME THROUGH ANNUITIES:
                            Life insurance is one of the best instruments for retirement planning. LIC pension plans and whole life money back plans provide you a regular income starting from your annuity period.

ADDITIONAL RIDERS :
                             Riders are the additional benefits that can be bought with payment of some additional premium and added to a basic LIC insurance policy.these option allow you to increase your insurance coverage. Riders like Double Accident benefit rider(sum assured will be paid on accidental death), Critical Illness Rider ( sum assured will be paid if the life assured if the life assured survives for a period of 28 days from the date of occurrence of any of the critical illnesses ), premium waiver  benefit rider (further premium on child plans will be waived if the proposer expires ) are available with LIC.
                         

LIC Term Insurance

LIC the indomitable market leader of life insurance segment,has been offering  innovative insurance policies since its inception.it boasts of the highest claim settlement ratio among insurers. moreover, LIC is perhaps the only insurer with such a diversified product portfolio meeting specific individual needs. it offers expensive covers at optimum prices.
At the name suggests, the policy comes with the option of getting converted into either whole life assurance  or endowment assurance, at a later date. Convertible term insurance has been designed for those who cannot afford to buy a whole life or endowment policy but expect t be able to afford it in the near future .
LIC  have 2 types of term plans :
1) Amulya Jeevan
2)Anmol Jeevan

AMULYA JEEVAN : In Amulya jeevan starting sum assured from 25 lakh in a low premium.it will covers  normal death , natural death,accidental death ,terrorist attack death even suicide case consider in after 1 year .
ANMOL JEEVAN: In Anmol jeevan sum assured up to 20 lakhs .this is helps to lower income basis persons . this plan also covers normal death,accidental death terrorist attack even suicide case consider after 1 year.

since both plans are term plans no maturity benefit for these policy. but term plan secures families .term plan  requires for every persons. you can calculate premiums in www.licpolizy.com 

LIC most consumer friendly: IRDA

Life insurance corporation of India has out down its peers in the private sector in most parameters used for measuring consumer friendliness. the corporation had fewer lapses,higher claim settlement and no penalties from the regulator.
In terms of persistence of business too, LIC scores better with a lapse ratio of only 5.6% as against private life companies which are all in double digits ranging from 17% to 42%. The only exception is HDFC Life Insurance, which has a lapse ratio of 5.6%. IRDA measures lapse ratio as number of policies lapsed during the year divided the average of the policies in force at the beginning and end of the year.

While Agents of private companies managed to sell only an Average of  3 policies in financial year 2013, The average Agent of LIC sold 29 policies, In financial year 2013,The Insurance Regulatory Authority Imposed penalties on 12 companies, including 2 public sector non-life insurers, for various reason. The penalties ranged from 5 lakh to 1.4 crore. However LIC did not face any penal action.
Interestingly, although only 5 private life insurers paid out dividend, The total payout by private life insurers to their share holders amounted to nearly 80% of LIC's dividend to the government. While LIC paid a dividend of RS 1,436 Crore to the government, Private life companies paid out 1,115 Crore to their share holders in the financial year 2013.
In the 1st quarter of  financial year 2014 life, Insurers have written business of RS 19,216 crore as against of  19,451 Crore, Recording a 1.2% shrinkage in business. While private insurers registered a 6.87%  decline, The state owned life insurers recorded a growth 2.92%, LIC with RS 14,295 Crore of premium from new policies, saw its new business market share rise from 74.29% to 74.39%.

LIC launches New Plan Jeevan Shagun table no. 826

LIC is back with new plan Jeevan Shagun table no. 826.Jeevan Shagun is non-linked with profit paln , single premium closed ended money back plan, Jeevan Shagun is available for maximum 90 days from 1st september 2014 .
Jeevan Shagun Plan Details:
Jeevan Shagun provides Risk Cover and Money Back benefit to policy holder during term of policy . sum assured is fix decide at time of taking policy.
Jeevan Shagun eligibility:
 minimum entry age : 8 years
maximum entry age : 45 years
premium payment   :  one time payment
minimum maturity sum assured :RS 60,000
maximum maturity sum assured : No Limit
policy term : 12 years
Jeevan Shagun Policy Benefit :On Death 
During the first 5 years from the date of taking policy ,
Basic sum assured's 10 times of the single premium payable .
Death after 5 years from the date of taking policy ,
Basic sum assured's 10 times of the single premium along with loyalty addition.
 On Survival, if policy holder survives money back benefits are payable as below,
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
At the end of the policy term 65% of maturity sum assured along with loyalty addition is payable.

LIC Jeevan Shagun surrender value :
Jeevan Shagun can be surrendered at any time during the term of the policy.
If the policy is surrendered during the First year from the date of taking policy 75% single premium is paid back .
If the policy is surrendered after First year from the date of taking policy then 90% of the single premium is paid back excluding any survival benefits paid and taxes .
LIC Jeevan Shagun Loan Facility: 
Loan amount 50% of surrendered value for the policy 2nd and 3rd year
Loan amount 60% of surrendered value for the policy 4th and 6th year
Loan amount 70% of surrendered value for the policy 7th and 9th year
Loan amount 90% of surrendered value for the policy 10th and 12th year
LIC Jeevan Shagun Premium:
Age 20 years Sum Assured RS. 100000 = 52,390
Age 25 years Sum Assured RS 100000 =52,803
Age 30 years Sum Assured RS 100000 =53,736
Age 35 years Sum Assured RS 100000 =56,019
Age 40 years Sum Assured RS 100000 = 61,380
Above premium includes service tax , you can calculate premium in licpolizy.com
Jeevan Shagun is Typical Non-Linked Money back close Ended plan .As it is close Ended plan ,Once you buy this policy you have to stay invested for 12 years. it is likes 12 years fixed deposit with additional benefit of risk cover and partial money back benefit plan .
If you look comparison fixed deposit surely beat in terms of returns, but in fixed deposit returns is taxable(As per tax slab) while Jeevan Shagun is Expected to give Tax free return.On and Average if you are happy with  7-8% returns like FD ,then you can think of purchasing Jeevan Shagun ,which gives you additional Benefit of Risk Cover.