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Life Insurance
Get the latest information on all LIC's plans and all private insurance companies.
- Ideal for planning your child's career goals
- Moderate premiums
- Multiple premium payment frequency to choose from
- Premium Discount available for higher Sum Assured (SA).
- Premium Waiver option – to ensure that the planned benefits will be paid to the child – with or without you
- Life Cover to the extent of 125% of Sum Assured + Bonus + Final Additional Bonus (as applicable)
- Survival Benefit: Option to take 5%, 10% or 15% of sum assured as survival benefit every year from 20 to 24 years of child's age
- Maturity Benefit: Sum Assured (or Balance SA, if SB is chosen) + Bonus + Final Additional Bonus as applicable, will be paid on completion of 25 years of age
- Loan is available any time after 2 policy years (after 1 years incase Premium paying term is less than 10 years)
- Policy can be back dated.
- Premium Paid is TAX EXEMPTED u/s 80 C
- All returns from the policy are TAX FREE u/s 10 (10) (D)
- Free lookup period for 15 days
- LIC's New Jeevan Nidhi is a conventional with profits pension plan.
- Life Cover:
- Death during first five policy years:
Provided the policy is in full force, Basic Sum Assured along with accrued Guaranteed Addition shall be paid as lump sum or in the form of an annuity or partly in lump sum and balance in the form of an annuity to the nominee/ legal heir at the then prevailing immediate annuity rates. - Death after first five policy years:
Provided the policy is in full force, Basic Sum Assured along with accrued Guaranteed Addition, Vested Simple Reversionary Bonuses and Final Additional Bonus, if any,shall be paid as lump sum or in the form of an annuity or partly in lump sum and balance in the form of an annuity to the nominee/legal heir at the then prevailing immediate annuity rates. - Benefit on vesting:
Provided the policy is in full force, on vesting, an amount equal to the Basic Sum Assured along with accrued Guaranteed Additions, Vested Simple Reversionary Bonuses And final Additional Bonus,if any shall be made available to the Life Assured. - Option available to Life Assured for utilization of the benefit amount:
The following options shall be available to the Life Assured for utilization of the benefit amount on vesting/ surrender.
- A conventional with profits Endowment Assurance Plan.
- Maturity Benefits:
- Basic Sum Assured along with Vested Simple Reversionary Bonuses and final Additional Bonus, if any.
- Death Benefits:
- Sum Assured on death along with Vested Simple Reversionary Bonuses and final Additional Bonuses, if any.
- The death benefit as defined above shall not be less than 105% of total premium paid as on the date of death.
- Optional Rider:
- Accidental Death & Disability Rider by payment of additional premium.
- Loan facility is available, after payment of premiums for at least 3 full years.
- LIC's New Money Back Plan 20 years is a non-linked with profit limited premium payment plan.
- Maturity Benefit:
- 40% of the basic Sum Assured along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any.
- Death Benefit:
- Sum Assured on death along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any.
- The death benefit as defined above shall not be less than 105% of total premiums paid as on the date of death.
- Survival Benefits:
- In case of Life Assured surviving to the end of the specified durations 20% of the Basic Sum Assured at the end of each of 5th, 10th & 15th policy year.
- Optional Benefit:
- Accidental Death & Disability Benefit Rider.
- Loan Available after payment of 3 full years premiums.
- Jeevan Arogya is a unique non-participating non-linked plan.
- It gives 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.
- Benefits offered under the plan are:
- Hospital cash benefit (HCB)
- Major Surgical Benefit (MSB)
- Day Care Procedure Benefit
- Other Surgical Benefit
- Ambulance Benefit
- Premium waiver Benefit (PWB)
- It's a regular premium paying conventional without profit pure protection plan.
- A protection plan which provides financial protection to the insured family in case of his/her unfortunate demise.
- Benefits:
- Death Benefit:In case of unfortunate death of the Life Assured during the policy term, Sum Assured shall be payable.
- Maturity Benefit:On survival to the end of policy term, no benefits shall be payable.
