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Kasinathan Insurance Consultant
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LIC MONEY BACK PLAN
1. NEW MONEY BACK PLAN-20 Yrs
Product Summary:
LIC’s New Money Back Plan20 yrs is a participating non-linked plan which offers an attractive combination of protection against death throughout the term of the plan along with the periodic payment of every 5 years on survival at specified durations during the term.
Entry age:13 years - 50 years
Maximum maturity age:70 years
Minimum Sum Assured:Rs.1,00,000 - No limit
Policy Term:20 years
Premium paying term:15 years
Premium payment:Yearly / Half yearly / Quarterly / Monthly
Benefits:
Loan:Eligible after 3rd year
Surrender:Eligible after 3rd year
Money Back is paid:End of 5th year - 20% of Sum Assured
End of 10th year - 20% of Sum Assured
End of 15th year - 20% of Sum Assured
On Maturity:40% of Sum Assured + Bonus
On Death:1.25% of Sum Assured + Bonus
(Already Money back paid will not be recovered)
Income Tax Benefits:(i) Premiums paid are eligible for Tax rebate u/s 80c
(ii) Maturity amount / Death claim is non-taxable u/s 10(10d)
2. NEW MONEY BACK PLAN-25 Yrs
Product Summary:
LIC New Money Back Plan 25 years is a participating non-linked plan which offers an attractive combination of protection against death throughout the term of the plan along with the periodic payment on survival at specified durations during the term.
Entry age:13 years - 45 years
Maximum maturity age:70 years
Sum Assured:Rs.1,00,000 - No limit
Policy Term:25 years
Premium paying term:20 years
Premium payment:Yearly / Half yearly / Quarterly / Monthly
Benefits:
Loan:Eligible after 3rd year
Surrender:Eligible after 3rd year
Money Back is paid:End of 5th year - 15% of Sum Assured
End of 10th year - 15% of Sum Assured
End of 15th year - 15% of Sum Assured
End of 20th year - 15% of Sum Assured
On Maturity:40% of Sum Assured + Bonus
On Death:1.25% of Sum Assured + Bonus
(Already Money back paid will not be deducted)
Income Tax Benefits:(i) Premiums paid are eligible for Tax rebate u/s 80c
(ii) Maturity amount / Death claim is non-taxable u/s 10(10d)
3. BIMA BACHAT
Product Summary:
LIC New Bima Bachat is a participating non-market-linked Moneyback, savings cum protection plan, where premium is paid in lump sum at the outset of the policy. LIC Bima Bachat plan details would help help you to invest your hard earned money under this policy. LIC Bima Bachat is a money-back plan which provides financial protection against death during the policy term with the provision of payment of survival benefits at specified durations during the policy term. Under Bima Bachat plan, on maturity, the single premium shall be returned along with Loyalty Addition, if any.
Minimum age:15 years (Completed)
Maximum age:66 years for 9 years term
63 years for 12 years term
60 years for 15 years term
Maximum maturity age:75 years
Premium term:9 years / 12 years / 15 years
Minimum Sum Assured:Rs.35,000 for 9 years term
Rs.50,000 for 12 years term
Rs.70,000 for 15 years term
Maximum Sum Assured:No limit
Premium payment:Single premium
Benefits:
Loan:Eligible after 1st year
Surrender:Eligible with immediate effect
On Death:Sum Assured (1st five years)
Sum Assured + Loyalty addition (After 5 years)
Income Tax Benefits:Premium paid is eligible for Tax rebate u/s 80c
4. BIMA SHREE
Product summary:
LIC Bima Shree, Table No. 848, is a money back plan which provides guaranteed addition (GAs) at the rate of Rs. 50 per thousand of basic sum assured for first 5 policy years and Rs 55 per thousand of sum assured from sixth policy year till the year of last premium payment. Complete details like Premium, Money Backs, Risk Cover and Maturity of this plan has been explained with an Illustration.
Age Entry : 8-55 yrs
Max Maturity Age : 69 yrs
Term/PPT : 14/10 ,16/12 ,18/14 ,20/16
Sum Assured : 10,00,000-No limit
Sum Assured multiples : 1,00,000
Mode of payment :Yearly / Half yearly / Quarterly / Monthly
Sum Assured on death is higher of 125% of Basic SA or 7 times of annualized premium
Death benefit shall not be less than 105% of all the premiums paid
Returns:
For Term 14:
10th,12th yr : 30% of SA
Maturity : 40% of SA+Guaranteed Addition+Loyality Addition
For Term 16:
12th,14th yr : 35% of SA
Maturity : 30% of SA+Guaranteed Addition+Loyality Addition
For Term 18:
14th,16th yr : 40% of SA
Maturity : 20% of SA+Guaranteed Addition+Loyality Addition
For Term 20:
16th,18th yr : 45% of SA
Maturity : 10% of SA+Guaranteed Addition+Loyality Addition
Income Tax Benefits:Premium paid is eligible for Tax rebate u/s 80c
5.JEEVAN SHIRONMANI
It is a non-linked, limited premium payment money back plan. It is a with-profits participating plan. This plan is especially designed for HNIs (High Networth Individuals).
It provides a life insurance cover, payouts at regular intervals during the policy term and a lumpsum amount on maturity.This plan also provides cover for critical illnesses and has 3 optional riders.
Plan name : 947-Jeevan Shiromani
Age Entry : 18-55 yrs
Max Maturity Age : 69 yrs
Term/PPT : 14/10 ,16/12 ,18/14 ,20/16
Sum Assured : 1,00,00,000-No limit
Sum Assured multiples : 5,00,000
Mode of payment : All
ServiceTax:
1st year : 4.5%
Subsequent year : 2.25%
Loan : After 1 yr
Surrender : After 1 yr
Risk Cover :
Before 5 yrs
SA+Guaranteed Addition(Rs.50)
After 5 yrs
SA+Guaranteed Addition(Rs.55)+Loyality Addition
SumAssured on death is higher of 125% of Basic SA or 7 times of annualized premium
Death benefit shall not be less than 105% of all the premiums paid
Returns:
For Term 14:
10th,12th yr : 30% of SA
Maturity: 40% of SA+Guaranteed Addition+Loyality Addition
For Term 16:
12th,14th yr : 35% of SA
Maturity : 30% of SA+Guaranteed Addition+Loyality Addition
For Term 18:
14th,16th yr : 40% of SA
Maturity : 20% of SA+Guaranteed Addition+Loyality Addition
For Term 20:
16th,18th yr : 45% of SA
Maturity : 10% of SA+Guaranteed Addition+Loyality Addition
Income Tax Benefits:Premium paid is eligible for Tax rebate u/s 80c
call us/Whatsapp to 9841739216.We will reach you immediately