Maturity Benefit

Life insurance is primarily designed to protect your dependents from financial disaster in the event of your death. LIC Child Fortune Plus is a unit linked policy. The needs of children go much beyond securing admissions in the best schools and exploring opportunities for education. What are your child’s needs?  Marriage expenses  foreign or higher studies  Your child’s medical bills  In case of your death then burial expenses After determining child needs, knowing the benefits and features of the policy are of main criteria:  Premium can be paid subject to a minimum of Rs. 25,000 and thereafter in multiples of Rs 1,000/-. The Policyholder will have the option to choose any of the funds like Bond Fund, Secured Fund, Balanced Fund, and Growth Fund. Policy Term: Maximum policy term is 30 years or [25] last birthday of child or [75] nearest birthday of life assured, whichever is lower.  If policy is not in force then partial withdrawals are not allowed.  Partial withdrawal will be allowed subject to a minimum of Rs. 5000/-in the Policyholder’s Fund or 10% of single premium, whichever is higher. The policyholder can switch between any fund types during the policy term. You can pay your premiums…

Read More...

LIC Policies for Children and Kids are specially designed to meet the increasing educational and other needs of growing children. Most of the insurance companies offer plans for children and LIC is one among them.LIC offers various plans for this group. Selecting the right scheme/plan depends on individual needs.  LIC Children,Kids Plans and their features Komal Jeevan:  Jeevan Anurag  Jeevan Kishore:  Jeevan Chhaya:  Plan type Endowment Assurance plan endowment policy Endowment Assurance Plan Endowment Assurance plan Min/Max Term Child/Parent  Premium to be paid till the child attains age 18. Max. Term- 26 yrs Premium to be paid till the parent is 70years old or 25 years term of policy Minimum term is 5 years and maximum 35 years. Maturity age: Max: 65 yrs. Age of child/Parent Child :0 – 10 years N A Child:0-12 years NA Age of parent N A 20-60 years N A 18-65 years Benefit strucure Money paid as per – attained age: 18 yrs-20% of S.A, 20 yrs-20% of SA, 22yrs-30% of SA, 24yrs-30% of SA & 26 yrs- Bonus for entire Term + Loyalty Additions, if any Payment of 20% of the Basic S.A till last 3 policy years before maturity.At maturity, 40% of the…

Read More...

LIC Jeevan Shree 1 Policy is an Endowment Assurance plan. It provides protection against death throughout the term of plan with the payment of maturity amount on the survival at the end of the policy period. It is mostly bought by rich individuals like corporate executives, professionals, software engineers, consultants, film stars etc.  LIC JEEVAN SHREE Features: Guaranteed Additions: Rs 50/- per thousand for the sum assured is paid as guaranteed addition for five years of policy. When acclaim is registered the sum assured + theses guaranteed additions are paid. Bonuses: As guaranteed additions are valid till first five years of policy , the bonuses start from sixth year of policy. Bonuses depend on the overall performance of the company. Thus profits are shared as in the form of bonus. Sum Assured + bonuses acquired are paid at the time of maturity. Maturity Benefit: The Sum Assured along with guaranteed additions and bonuses, if any  are paid at the time of maturity of the policy in case of survival of the policy holder. Death Benefits: In case of death before five years then guaranteed additions + Sum assured are paid.In case death occurs after five years of completion of policy…

Read More...