JEEVAN VARSHA

Lic launches new close ended scheme Jeevan varsha

Jeevan varsha plan is available with two policy terms of 9 & 12 yrs
This policy offer guaranteed amount Rs65 per Rs1,000 sum assured
and Rs70 for a 12 year term

The plan will be available only between 16 February and 31 March

survival benefit are payable every three years

LIC’s New Jeevan Saral Monthly Recurring Scheme Jeevan Saral ATM Plan Table
No 165. Jeevan saral policy by Lic of India which is also called ATM plan. Jeevan
Saral has won a Golden Peacock award. Jeevan saral is a Monthly Recurring Life
Insurance Plan by Lic of India where you get 250 times monthly premium + total
premium paid + LA if any in case of death and on maturity you get a lumpsum
amount which is 100% tax free.

Limits Term Age Sum Assured

Minimum 10 12 62500

Maximum 35 60 No Limit

Premium Ceasing Age : 70 Premium Ceasing Term : 0

Table no 165 Plan Highlights
Cheapest LIC’s New Jeevan Saral Monthly Recurring Type Saving Schemes/ Plan
Life Insurance is a unique plan having good features of the conventional plans
and the flexibility of unit linked plans. To the policyholder it provides -
Higher Cover,
smooth returns,
liquidity and
a lot of flexibility Savings
BENEFITS:
On Death:
250 times the monthly premium, plus
return of premiums excluding extra/rider premium and first year premium, plus
the loyalty addition, if any. ATM Facility avail.
On Maturity:
Maturity sum assured, plus
The Loyalty Additions, if any
SPECIAL FEATURES:
High risk cover at low premium
Extended risk cover for one year after 3 years premium payment.
Optional higher cover through Term Riders
The policyholder can choose a maximum term but can surrender at any time
without any
surrender penalty or loss after 5 years
Any number of withdrawals through partial surrendering
OTHER ELIGIBILITY CONDITIONS:
Premium : Minimum premium of Rs.250/- per month for entry age upto 49
years. and Rs.400/- per month for entry age 50 years and above.
No Limit for the maximum premium per month.
Mode : Yearly, Half-yearly, Quarterly and Monthly under Salary Saving Scheme
In case of term rider, minimum and maximum age at entry will be 18 and 50
years respectively.
Further minimum sum assured will be Rs.1 lakh. Flexibility to increase/ decrease
premium & withdraw money according to your needs. Save Tax upto
Rs.33390.The Best and Most Popular and most sellable Product/ Policy of LIC is
Jeevan Saral.
Keyman Insurance

Keyman insurance is taken by a business firm on the life of key employee(s) to protect the firm
against financial losses, which may occur due to the premature demise of the Keyman.

What Is Life Insurance?

Life insurance is a contract that pledges payment of an amount to the person assured (or his
nominee) on the happening of the event insured against.

The contract is valid for payment of the insured amount during:

• The date of maturity, or

• Specified dates at periodic intervals, or
• Unfortunate death, if it occurs earlier.

Among other things, the contract also provides for the payment of premium periodically to the
Corporation by the policyholder. Life insurance is universally acknowledged to be an institution,
which eliminates 'risk', substituting certainty for uncertainty and comes to the timely aid of the
family in the unfortunate event of death of the breadwinner.
By and large, life insurance is civilisation's partial solution to the problems caused by death. Life
insurance, in short, is concerned with two hazards that stand across the life-path of every person:

1. That of dying prematurely leaving a dependent family to fend for itself.

2. That of living till old age without visible means of support.

LIC NEW SCHEME

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Life Insurance Corporation of India (LIC) has announced launch of its new product - LIC's
PENSION PLUS with effect from 2nd September 2010

LIC to launch Pension Plus scheme with guaranteed return -LIC launches pension plan we
help you build retirement corpus Get regular income after retirement. LIC launches unit
linked deferred pension plan

productive span and a happy independent retired lifestyle for yourself and your spouse
when you decide to retire.

LIC’s Pension Plus is a unit linked deferred pension plan, which provides the customer a
minimum guarantee on the gross premiums paid. The plan is without any life cover
Life Insurance Corporation of India (LIC) has announced launch of its new product – LIC’s
PENSION PLUS with effect from 2nd September 2010.

LIC’s Pension Plus is a unit linked deferred pension plan, which provides the customer a
minimum guarantee on the gross premiums paid. The plan is without any life cover. The
customer has a choice of investing the premiums in one of the two types of investment funds
available. Premiums paid after deduction of allocation charge will purchase units of the Fund
type chosen. Within a given policy year 2 switches are allowed free of charge.

Anybody between ages 18 – 75 years can buy this policy. Minimum Deferment Term allowed
is 10 years. Minimum Vesting Age is 40 years while the Maximum Vesting Age allowed is 85
years.

On surviving to the date of vesting, the higher of Policyholder’s Fund Value or Guaranteed
Maturity Proceeds will compulsorily be utilized to provide an annuity based on the then
prevailing immediate annuity rates. However, the policyholder may opt to commute up to
one-third of the Benefit to be paid as a lump sum.

Premiums can be paid through regular modes at yearly, half-yearly or quarterly or monthly
(through ECS mode only) intervals over the term of the policy. Single premium payment
facility is also allowed. The minimum regular premium that can be opted through modes
other the ECS mode is Rs 15000 per annum while the maximum allowed for regular
premium is Rs 1,00,000. For the ECS mode of payment, the minimum premium is Rs 1500
per month.

The minimum single premium that can be paid is Rs 30000 while there is no limit on the
upper side. Top up facility is available under this plan which enables the customer to pay
additional premiums in multiples of Rs 1000/- without any limit at anytime, during the term of
the policy.
The unique feature of the plan is the minimum guarantee on contributions that if offers. As
per the plan, if all due premiums are paid till maturity, a guaranteed interest shall accrue on
the gross premium, including Top-up premiums if any. The guaranteed interest rate shall be
50 basis points above the average of the reverse repo rate. However, it shall be subject to a
maximum of 6% and a minimum of 3%. Currently, a minimum guaranteed rate of 4.5% p.a.
would be available on all premiums received up to 31st March, 2011.

In case of Death, The Policyholder’s Fund Value shall be payable either in a lump sum or as
an annuity, as desired by the nominee. The amount of annuity will depend on the payable
lump sum and the then prevailing immediate annuity rates under the annuity option chosen.

In case of surrender of the policy within 5 years from the date of commencement of policy,
the Policyholder’s Fund Value after deducting the Discontinuance Charge shall be converted
into monetary terms. The Proceeds of the Discontinued Policy shall be utilized for payment
of an annuity, on completion of 5 years from the date of commencement of policy. In case,
however, the policy is surrendered after 5 years from the date of commencement of policy,
the Policyholder’s Fund Value, as at the date of surrender, shall be utilized for payment of an
annuity and there will no Discontinuance Charge.
Pension Plans are Individual Plans to gaze into your future and foresee financial stability
during your retirement age. These policies are most suited for senior citizens and those
planning a safe and secure future. The objective of LIC’s pension plan is to provide financial
security to your family during your
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These are Deferred Annuity plans that allow the policyholder to make provision for regular
income after the selected term.

These are Deferred Annuity plans that allow the policyholder to make provision for regular
income after the selected term
It is an Immediate Annuity plan, which can be purchased by paying a lump sum amount. The
plan provides for annuity payments of a stated amount throughout the life time of the
annuitant. Various options are available for the type and mode of payment of annuities

LIC's JEEVAN NIDHI is a with profits Deferred Annuity (Pension) plan. On survival of teh
policyholder beyond term of teh policy teh accumulated amt (i.e. Sum Assured + Guaranteed
Additions + Bonuses) is used to generate a pension (annuity) 4 teh policyholder. teh plan
also provides a risk cover during teh deferment period. teh USP of teh plan being teh
pension can commence at 40 years. teh premiums paid are exempt under Section 80CCC
of Income Tax Act.

This is a unit linked pension plan wherein the pension is payable after a specified period.
Four types of investment Funds namely Bond, Secured, Balanced and Growth Fund are
offered. Though primarily a Pension product, the plan has many attractive features and
options which make it an ideal Retirement solution for the future.