This is Only Educational and Read Only Purpuse. This Contain Copyright By "http://www.licindia.in/".
- The Whole Life Policy
This plan is mainly devised to create an estate for the heirs of the policyholder as the plan basically provides for payment of sum assured plus bonuses on the death of the policyholder. However, considering the increased longevity of the Indian population, the Corporation has amended the above provision, thereby providing for payment of sum assured plus bonuses in the form of maturity claim on completion of age 80 years or on expiry of term of 40 years from date of commencement of the policy whichever is later.
The premiums under the policy are payable up to age 80 years of the policyholder or for a term of 35 years whichever is later.
If the payment of premium ceases after 3 years, a paid-up policy for such reduced sum assured will be automatically secured provided the reduced sum assured exclusive of any attached bonus is not less than Rs.250/-. Such reduced paid-up policy is not entitled to participate in the bonus declared thereafter but the bonuses already declared on the policy will remain attach, provided the policy is converted in to a paid-up policy after the premiums are paid for 5 years.
Suitable For:
This policy is suitable for people of all ages who wish to protect their families from financial crises that may occur owing to the policyholder’s premature death.
The premiums under the policy are payable up to age 80 years of the policyholder or for a term of 35 years whichever is later.
If the payment of premium ceases after 3 years, a paid-up policy for such reduced sum assured will be automatically secured provided the reduced sum assured exclusive of any attached bonus is not less than Rs.250/-. Such reduced paid-up policy is not entitled to participate in the bonus declared thereafter but the bonuses already declared on the policy will remain attach, provided the policy is converted in to a paid-up policy after the premiums are paid for 5 years.
Suitable For:
This policy is suitable for people of all ages who wish to protect their families from financial crises that may occur owing to the policyholder’s premature death.
This is Only Educational and Read Only Purpuse. This Contain Copyright By "http://www.licindia.in/".
- The Whole Life Policy- Limited Payment
This is the best form of life assurance for family provision since it enables the Life Assured to pay all the premiums during the ordinarily vigorous and most productive years of life. He need not pay any premium in the later stages of life if and when his conditions might become adverse.
With Profits Limited Payments Policies do not cease to participate in profits after completion of the premium paying period but continue to share in the periodical Bonus Distribution until the death of the Life Assured.The Without-Profit option is available under Table no. 3.
If the policyholder pays at least 3 years' premiums and then discontinues paying any more premium, a reduced paid-up assurance policy comes into force.
Such a reduced paid-up Policy will not be entitled to participate in the profits declared thereafter, but such Bonus as has already been declared on the Policy will remain attached thereto. The premium paying term under this plan is five years minimum and 55 years maximum.
With Profits Limited Payments Policies do not cease to participate in profits after completion of the premium paying period but continue to share in the periodical Bonus Distribution until the death of the Life Assured.The Without-Profit option is available under Table no. 3.
If the policyholder pays at least 3 years' premiums and then discontinues paying any more premium, a reduced paid-up assurance policy comes into force.
Such a reduced paid-up Policy will not be entitled to participate in the profits declared thereafter, but such Bonus as has already been declared on the Policy will remain attached thereto. The premium paying term under this plan is five years minimum and 55 years maximum.
This is Only Educational and Read Only Purpuse. This Contain Copyright By "http://www.licindia.in/".
- The Whole Life Policy- Single Premium
This is the best form of life assurance for family provision since it enables the Life Assured to pay the premium during the ordinarily vigorous and most productive years of life, relieving him from the necessity of making payments later in life when they might become a burden.
With Profits Single Premium policies do not cease to participate in profits after completion of the period for which premium has been paid ,but continue to share in the periodical Bonus Distribution until the death of the Life Assured.
Suitable For:
Being a limited-payment life assurance policy, this plan is suitable for people of all ages and social groups who wish to protect their families from a financial setback that may occur owing to their demise.
With Profits Single Premium policies do not cease to participate in profits after completion of the period for which premium has been paid ,but continue to share in the periodical Bonus Distribution until the death of the Life Assured.
Suitable For:
Being a limited-payment life assurance policy, this plan is suitable for people of all ages and social groups who wish to protect their families from a financial setback that may occur owing to their demise.
This is Only Educational and Read Only Purpuse. This Contain Copyright By "http://www.licindia.in/".
- Jeevan Anand
This plan is a combination of Endowment Assurance and Whole Life plans. It provides financial protection against death throughout the lifetime of the life assured with the provision of payment of a lump sum at the end of the selected term in case of his survival.
Premium:
Premiums are payable yearly, half-yearly, quarterly, monthly or through salary deductions as opted by you throughout the selected term of the policy or till earlier death.
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. Bonuses will be added during the selected term or till death, if it occurs earlier. Final (Additional) Bonus may also be payable provided the policy has run for certain minimum period.
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. Bonuses will be added during the selected term or till death, if it occurs earlier. Final (Additional) Bonus may also be payable provided the policy has run for certain minimum period.
This is Only Educational and Read Only Purpuse. This Contain Copyright By "http://www.licindia.in/".
- Jeevan Tarang
Introduction:
This is a with-profits whole of life plan which provides for annual survival benefit at a rate of 5½ % of the Sum Assured after the chosen Accumulation Period. The vested bonuses in a lump sum are payable on survival to the end of the Accumulation Period or on earlier death. Further, the Sum Assured, along with Loyalty Additions, if any, is payable on survival to age 100 years or on earlier death.
This is a with-profits whole of life plan which provides for annual survival benefit at a rate of 5½ % of the Sum Assured after the chosen Accumulation Period. The vested bonuses in a lump sum are payable on survival to the end of the Accumulation Period or on earlier death. Further, the Sum Assured, along with Loyalty Additions, if any, is payable on survival to age 100 years or on earlier death.
Accumulation Period :
The plan offers three Accumulation periods – 10, 15 and 20 years. A proposer may choose any of them.
The plan offers three Accumulation periods – 10, 15 and 20 years. A proposer may choose any of them.
Payment of Premium:
Premiums can be paid regularly at yearly, half-yearly, quarterly or monthly intervals or through salary deductions over the Accumulation Period. Alternatively, a Single Premium can be paid on commencement of a policy.
Premiums can be paid regularly at yearly, half-yearly, quarterly or monthly intervals or through salary deductions over the Accumulation Period. Alternatively, a Single Premium can be paid on commencement of a policy.
Sample Premium Rates:
The tables below provide tabular premiums for various age-term combinations for Rs. 1000/- Sum Assured.
The tables below provide tabular premiums for various age-term combinations for Rs. 1000/- Sum Assured.
Regular premiums | |||
Accumulation period | |||
Age | 10 years | 15 years | 20 years |
Up to 40 years | 109.10 | 71.40 | 51.50 |
41 to 45 years | 109.10 | 71.40 | 53.40 |
46 to 50 years | 109.10 | 73.80 | 56.60 |
51 to 55 years | 111.80 | 77.90 | - |
56 to 60 years | 116.60 | - | - |
Single premiums | |||
Accumulation period | |||
Age | 10 years | 15 years | 20 years |
Up to 46 years | 756.00 | 644.00 | 548.00 |
47 years | 756.00 | 644.00 | 549.00 |
48 years | 756.00 | 644.00 | 552.00 |
49 years | 756.00 | 644.00 | 555.20 |
50 years | 756.00 | 644.00 | 558.90 |
51 to 55 years | 756.00 | 644.00 | - |
56 to 60 years | 756.00 | - | - |
Policies under this plan shall participate in profits of the Corporation. During the accumulation period policies shall be entitled to receive simple reversionary bonuses which will be payable on survival to the end of the accumulation period or on earlier death. After the accumulation period, policies will be entitled to receive a Loyalty Addition payable on maturity or earlier death. The amount of simple reversionary bonus and Loyalty Addition will depend on the experience of the Corporation.
This is Only Educational and Read Only Purpuse. This Contain Copyright By "http://www.licindia.in/".
0 comments:
Post a Comment