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8/7/2019 lic products

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LIC & PRODUCTS

Made by:

ShilpiAnchal

Zindagi ke saath bhi,Zindagi ke baad bhi


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Superannuation

The act of discharging someone because of age (especially to

cause someone to retire from service on a pension)

a monthly payment made to someone who is retired from

work


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Superannuation Fund

Superannuation fund is a contribution made by theemployer each year(usually it is 10-15% of thebasic salary of the employee) on the behalf ofthe employee towards the Group Superannuationpolicy held by the employer.

& in case of Individual Superannuation funds, theemployee contributes based on thesuperannuation premium decided thereafter.


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Features of superannuation scheme

It is a voluntary scheme best suited for tax planning. Company contributes upto 15% of basic wages (maximum

cont.) Applicable law is income tax act, 1961 and rules thereunder. We can invest funds / in house or can invest with lic. Lic acts on the advice of board of trustees and the trust

rules framed by the company given to them while takingpolicy.

Fund is created under an irrevocable trust recognised underthe income tax act, 1961.

Different employers put different clauses of mandatory

service from 1 to 10 years. mandatory service in amodel case it is Upto 1 year - nil Upto 2 years - 50% More than 2 years - 100%


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Features

Premiums Tax Benefits

Bonuses

Death Benefit


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Introduction:

It is an Immediate Annuity plan, which can be purchased by paying a lumpsum amount. The plan provides for annuity payments of a stated amountthroughout the life time of the annuitant. Various options are available forthe type and mode of payment of annuities.

Options Available:

The following options are available under the planType of Annuity:i. Annuity payable for life at a uniform rate.ii. Annuity payable for 5, 10, 15 or 20 years certain and thereafter as long as

the annuitant is alive.iii. Annuity for life with return of purchase price on death of the annuitant.iv. Annuity payable for life increasing at a simple rate of 3% p.a.v. Annuity for life with a provision of 50% of the annuity payable to spouse

during his/her lifetime on death of the annuitant.vi. Annuity for life with a provision of 100% of the annuity payable to spouse

during his/her lifetime on death of the annuitant.You may choose any one. Once chosen, the option cannot be altered.


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Salient features: Premium is to be paid in a lump sum.

No medical examination is required under the plan.

No maximum limits for purchase price, annuity etc.

Minimum age at entry 40 years last birthday and Maximum age atentry 79 years last birthday.

Age proof necessary.

Minimum purchase price : Rs.50,000/= or such amount which maysecure as under:

Annuity is the income from capital investment paid in a series ofregular payments.

Mode: Annuity may be paid either at monthly, quarterly, halfyearly or yearly intervals. You may opt any mode of payment ofAnnuity.


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JeevanJeevan NidhiNidhi

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

Salient Features:

a . Guaranteed Additions: Guaranteed Additions @ Rs.50/- per thousand Sum assured for eachcompleted year, for the first five years.b. Participation in profits: The policy shall participate in profits of the Corporation from the 6thyear onwards and shall be entitled to receive bonuses declared as per the experience of theCorporation.c. Benefit On Vesting:

1. Option to commute up to 1/3rd of the amount available on vesting, which shall include the SumAssured under the Basic Plan together with accrued Guaranteed Additions, simple ReversionaryBonuses and Terminal Bonus, if any.

2 . Annuity as per the option selected:Annuity on the balance amount if commutation is exercised,otherwise annuity on the full amount.

d. Annuity Options:On vesting, the annuity instalment, mode of annuity payment and type of annuity which shall bemade available to the Life Assured (Annuitant) / Nominee will depend upon the then prevailingImmediate Annuity plan of the Life Insurance Corporation ofIndia and its terms and conditions.


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LIC POLICIES

Lic Jeevan anand: LIC Jeevan Anand is a good whole life plan. It has the wonderful returns

and extremely helpful plan. Entire Life Plan + Endowment guaranteed Plan.

Lic Jeevan saral:LIC'sNewJeevan SaralMonthly Recurring SchemeJeevan SaralATM

Plan Table No 165.Jeevan saralpolicy byLic of India which is also called ATM plan. Jeevan

Saral offers insurance with money liquidity and tax saving. Awarded best innovativeInsurance product from IRDA (Golden Peacock AwardWinnerPolicy international award)

SPECIAL FEATURES:

Lic new bima gold Policy: Table-179 It is a plan where premiums paid over the term of plan

are paid back during the policy term in installments and life insurance cover is available not

only during the term but also during the extended term of the plan.

LIC Jeevan Tarang: Table 178 this is a with-profits whole of life plan which provides forannual survival benefit at a rate of 5 % 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.


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Lic Pension Plan Jeevan Nidhi: LIC's JEEVAN NIDHI is a with profits DeferredAnnuity (Pension) plan.

Lic Pension Plan Jeevan Akshay VI: It is an Immediate Annuity plan, which can bepurchased by paying a lump sum amount. The plan provides for annuity payments of a statedamount throughout the life time of the annuitant. Various options are available for the typeand mode of payment of annuities.

Lic Pension Plan New Jeevan Dhara-I: These are Deferred Annuity plans that allow thepolicyholder to make provision for regular income after the selected term.

Lic Pension Plan New Jeevan Suraksha-I: These are Deferred Annuity plans that allow thepolicyholder to make provision for regular income after the selected term.

Lic Tarm Policy Amulya Jeevan I: Death Benefit: In case of unfortunate death of the LifeAssured during the term of the policy, Sum Assured is payable, provided the policy is kept inforce.

Lic Tarm Policy Anmol Jeevan-I: On Death during the Term of the Policy, Sum Assured.

Lic Children plans Child Career Plan: This plan is specially designed to meet theincreasing educational and other needs of growing children.

Lic Children plans Child Future Plan: This plan is specially designed to meet theincreasing educational, marriage and other needs of growing children.


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Lic Children plans Marriage Endowment or Educational Annuity Plan: This is an EndowmentAssurance plan that provides for benefits on or from the selected maturity date to meet theMarriage/Educational expenses of the named child.

Lic Children plans Jeevan Kishore: This is an Endowment Assurance Plan available for childrenof less than 12 years of age. The policy may be purchased by any of the parent/grand parent.

Lic Children plans Komal Jeevan: This is a Children's Money BackPlan that provides financialprotection against death during the term of plan with periodic payments on survival at specifieddurations. This plan can be purchased by any of the parent or grand parent for a child aged 0 to 10years.

Lic Children plans Jeevan Anurag: Jeevan ANURAG is a with profits plan specifically designedto take care of the educational needs of children.

Lic Children plans Jeevan Chhaya: This is an Endowment Assurance plan that provides financialprotection against death throughout the term of the plan. Besides payment of Sum Assuredimmediately on death, one-fourth of Sum Assured is payable at the end of each of last four years of

policy term whether the life assured dies or survives the term of the policy.

TaxS

avings -buy life insurance is to avail tax benefits under section 80C up to the limit of Rs.1,00,000 annuallyFinancial Planning: LIC Term, Endowment, Pension, Child, Money Back, best lic life insurancepolicy


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PRODUCTS

Insurance Plans

Pentions Plans

Unit Plans

Special Plans

Withdrawn Plans


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Insurance Plans

As individuals it is inherent to differ. Each individual's

insurance needs and requirements are different from that ofthe others. LIC's Insurance Plans are policies that talk to you

individually and give you the most suitable options that can

fit your requirement Bima account

Endorsement account

Children plans

Money back plans

Whole life plans

Joint life plans


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Pension Plans

Pension Plans are Individual Plans that gaze into your future and foresee

financial stability during your old age. These policies are most suited for

senior citizens and those planning a secure future, so that you never give

up on the best things in life.

Pension Plus

Jeevan Nidhi

Jeevan Akshay-VI

New Jeevan Dhara-I

new Jeevan Suraksha-I


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UNIT PLANS

Unit plans are investment plans for those who realise the

worth of hard-earned money. These plans help you see your

savings yield rich benefits and help you save tax even if you

don't have consistent income.

Samridhi Plus

Pension Plus

Endowment Plus


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SPECIAL PLANS

LICs Special Plans are not plans but opportunities thatknock on your door once in a lifetime. These plans are aperfect blend of insurance, investment and a lifetime ofhappiness!

>GOLDEN JUBLIE PLANNew Bima Gold

>HEALTH PLAN

Health Protection Plus>SPECIAL PLANS

Bima Nivesh 2005Jeevan Saral

>MICRO INSURANCE PLANS

Jeevan Madhur

Jeevan Mangal


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WITHDRAWN PLANS

Jeevan Nischay

Market Plus I

Wealth Plus

Profit Plus

Jeevan Aastha

Money Plus-I

Jeevan Varsha

Child Fortune Plus

Fortune Plus

Jeevan Saathi Plus

Health Plus

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