LIFE INSURANCE PLANNER

CHILD EDUCATION PLAN

The Child Education Plan is a participating non-linked limited premium payment plan, which is a mixture of insurance & savings for a child's secure future. This insurance plan allows you to fulfil your child's dreams of higher education, hostel charges, and other expenses.

Why Child Education Plan?

Child Education Plan that focus on offering required financial support & stability to your child. Child Education plans are designed with great features and are more than enough to safeguard your child's future.

How does LIC Child Plan work?

Let's take the help of an example for a proper explanation.

Mr.Sharma bought a Child Education Plan (tenure of 20 years) for his 6-year-old child. The plan promises to pay the benefits at the 15th, 17th, and 20th year of the policy. Mr. Sharma set the time for the benefit so that the child can easily attain the set milestones of the education. Mr. Sharma will receive the funds when the child attains the age of 20 years, 22 years, and 25 years. The same fund can be used further for the higher education of the child. If Mr. Kumar dies during the policy tenure, the plan will continue to function and the company will pay the rest of the premiums.

ENDOWMENT PLAN

Endowment Plan is a participating non-linked plan which offers an attractive combination of protection and saving features. This combination provides financial support for the family of the deceased policyholder any time before maturity and good lump sum amount at the time of maturity for the surviving policyholders. This plan also takes care of liquidity needs through its loan facility.

1. BENEFITS

Death benefit:

In case of death during the policy term provided all due premiums have been paid Death benefit, defined as sum of "Sum Assured on Death" and vested Simple Reversionary Bonuses and Final Additional bonus, if any, shall be payable. Where, “Sum Assured on Death” is defined as higher of Basic Sum Assured or 10 times of annualised premium. This death benefit shall not be less than 105% of all the premiums paid as on date of death.

Where premiums exclude service tax, extra premium and rider premiums, if any.

Maturity Benefit:

Basic Sum Assured, along with vested simple reversionary bonuses and Final Additional bonus, if any, shall be payable in lump sum on Survival to the end of the policy term provided all due premiums have been paid.

Participation in Profits:

The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation, provided the policy is in full force.

Final (Additional) Bonus may also be declared under the policy in the year when the policy results into a claim either by death or maturity, provided the policy has run for certain minimum term.

2. Optional Benefit:

Accidental Death and Disability Benefit Rider:

Accidental Death and Disability Benefit Rider is available as an optional rider by payment of additional premium. In case of accidental death, the Accident Benefit Sum Assured will be payable as lumpsum along with the death benefit under the basic plan. In case of accidental permanent disability arising due to accident (within 180 days from the date of accident), an amount equal to the Accident Benefit Sum Assured will be paid in equal monthly instalments spread over 10 years and future premiums for Accident Benefit Sum Assured as well as premiums for the portion of Basic Sum Assured which is equal to Accident Benefit Sum Assured under the policy, shall be waived.

MONEY BACK PLAN

Money Back Plan 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. This unique combination provides financial support for the family of the deceased policyholder any time before maturity and lump sum amount at the time of maturity for the surviving policyholders. This plan also takes care of liquidity needs through its loan facility.

1.Benefits:

Death benefit:

On death during the policy term provided the policy is in full force, death benefit, defined as sum of “Sum Assured on Death” and vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable. Where, “Sum Assured on Death” is defined as higher of 125% of the Basic Sum Assured or 10 times of annualized premium. This death benefit shall not be less than 105% of the total premiums paid as on date of death.

The premiums mentioned above exclude tax, extra premium and rider premium, if any.

Survival Benefits:

In case of Life Assured surviving to the end of the specified durations 20% of the Basic Sum Assured at the end of each of 5th, 10th & 15th policy year.

Maturity Benefit:

In case of Life Assured surviving the stipulated date of maturity, 40% of the Basic Sum Assured along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable.

Participation in Profits:

The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation, provided the policy is in full force.

Final Additional Bonus may also be declared under the policy in the year when the policy results into a claim either by death or maturity, provided the policy has run for certain minimum term.

2.Optional Benefit:

Accidental Death and Disability Benefit Rider:

Accidental Death and Disability Benefit Rider can be opted for under an inforce policy at any time within the premium paying term by payment of additional premium and the cover will be available throughout the policy term provided the Policy is inforce for the full Sum Assured as on date of accident. In case of accidental death, the Accident Benefit Sum Assured will be payable as lumpsum along with the death benefit under the basic plan. In case of accidental permanent disability arising due to accident (within 180 days from the date of accident), an amount equal to the Accident Benefit Sum Assured will be paid in equal monthly instalments spread over 10 years and future premiums for Accident Benefit Sum Assured as well as premiums for the portion of Basic Sum Assured which is equal to Accident Benefit Sum Assured under the policy, shall be waived.

However, on surrender of an inforce basic policy (which has acquired Surrender Value) to which this rider is attached, a proportion of additional premium charged in respect of cover after premium paying term shall be refunded.

TERM

PLAN

Term Plan will guarantee a death benefit, the increased sum insured on death, family security, faster claim settlement & simple claim process. You are loaded with benefits.

Benefits Term Policy

Death Benefit : Term Plan contain death benefit. The nominee on death of the insured will get the proposed sum insured during the term of the policy.
Rise in Sum Insured : Post five consecutive renewals, the sum insured will keep on elevating @10% for ten years without any obstruction.
Health Rewards : Term Policy takes care of customers by promising them health rewards which can be attained by not consuming any toxic substances like cigarettes, drugs, tobacco or any other hallucinogenic material.
Flexible-Premium Payment : Premium payment for the term plan will give three choices including- Single, Regular, Limited.

Single-Premium : Insured had to pay the premium in one go for the whole term. There is no need for submitting annual premium.
Regular Premium : Insured has to pay the premium every year till the end of the term policy or death of the policyholder.
Limited Premium : The premium is submitted for a specific term period. The payment term is evaluated by subtracting 5 years or 10 years from the policy term chosen.

Discount for Females Insured : If a female takes a term insurance, then she will get a discount on premium as a special privilege for female life insured. The percentage of discount may vary between 5% to 10%.
Higher Sum Insured Benefit : Term insurance plan also gives the benefit of choosing a higher sum insured under annual or single premium payment. A maximum discount of 20% is offered concerning the sum insured preferred.

PENSION

PLAN

Pension Plans are effective means to secure future. With an effective pension plan, you do not have to compromise your future needs during post-retirement life. By taking pension plans, you can enjoy your life even after your retirement with your family. The invested amount in the pension will help you in old age while to cater to the changing and evolving needs of its customers. Currently, it has pension plans to offer economic stability during the post-retirement life with various financial benefits.

Benefits of Choosing Pension Plans

Death Benefit : Payable to the beneficiary when the insured or annuitant passes away. Alternatively, a death benefit may be a large lump-sum payment from a life insurance policy.
Tax Exemption : Charges paid to the insurer for any of the pension plans are exempted from tax.
Choice of Term : The insured can construct a good retirement portfolio by choosing a policy term that can offer great returns.
Age Flexibility : The insured also can select to increase his retirement age if required. Moreover, the insured will acquire a steady income depending on the annuity he chooses. Tax-free withdrawals of 1/3rd of the accrued price range upon retirement give the insured the liberty to fulfill wishes.
Special Protection : It protects the insured's family by giving the minimum assured amount based on a number of premiums paid in case of the demise of the insured.
Tax Benefits : Tax benefits may be availed on investment in addition to returns according to the income tax policies.

To see more or discuss possible work let's talk >>

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LIFE INSURANCE PLANNER

CHILD EDUCATION PLAN

The Child Education Plan is a participating non-linked limited premium payment plan, which is a mixture of insurance & savings for a child's secure future. This insurance plan allows you to fulfil your child's dreams of higher education, hostel charges, and other expenses.

Why Child Education Plan?

Child Education Plan that focus on offering required financial support & stability to your child. Child Education plans are designed with great features and are more than enough to safeguard your child's future.

​

How does LIC Child Plan work?

Let's take the help of an example for a proper explanation.

ENDOWMENT PLAN

1. BENEFITS

Death benefit:

Where premiums exclude service tax, extra premium and rider premiums, if any.

Maturity Benefit:

Basic Sum Assured, along with vested simple reversionary bonuses and Final Additional bonus, if any, shall be payable in lump sum on Survival to the end of the policy term provided all due premiums have been paid.

Participation in Profits:

The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation, provided the policy is in full force.

Final (Additional) Bonus may also be declared under the policy in the year when the policy results into a claim either by death or maturity, provided the policy has run for certain minimum term.

2. Optional Benefit:

Accidental Death and Disability Benefit Rider:

MONEY BACK PLAN

1.Benefits:

Death benefit:

The premiums mentioned above exclude tax, extra premium and rider premium, if any.

Survival Benefits:

In case of Life Assured surviving to the end of the specified durations 20% of the Basic Sum Assured at the end of each of 5th, 10th & 15th policy year.

Maturity Benefit:

In case of Life Assured surviving the stipulated date of maturity, 40% of the Basic Sum Assured along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable.

Participation in Profits:

The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation, provided the policy is in full force.

Final Additional Bonus may also be declared under the policy in the year when the policy results into a claim either by death or maturity, provided the policy has run for certain minimum term.

2.Optional Benefit:

Accidental Death and Disability Benefit Rider:

However, on surrender of an inforce basic policy (which has acquired Surrender Value) to which this rider is attached, a proportion of additional premium charged in respect of cover after premium paying term shall be refunded.

TERM

PLAN

Term Plan will guarantee a death benefit, the increased sum insured on death, family security, faster claim settlement & simple claim process. You are loaded with benefits.

Benefits Term Policy

Death Benefit : Term Plan contain death benefit. The nominee on death of the insured will get the proposed sum insured during the term of the policy.

Rise in Sum Insured : Post five consecutive renewals, the sum insured will keep on elevating @10% for ten years without any obstruction.

Health Rewards : Term Policy takes care of customers by promising them health rewards which can be attained by not consuming any toxic substances like cigarettes, drugs, tobacco or any other hallucinogenic material.

Flexible-Premium Payment : Premium payment for the term plan will give three choices including- Single, Regular, Limited.

Single-Premium : Insured had to pay the premium in one go for the whole term. There is no need for submitting annual premium.

Regular Premium : Insured has to pay the premium every year till the end of the term policy or death of the policyholder.

Limited Premium : The premium is submitted for a specific term period. The payment term is evaluated by subtracting 5 years or 10 years from the policy term chosen.

Discount for Females Insured : If a female takes a term insurance, then she will get a discount on premium as a special privilege for female life insured. The percentage of discount may vary between 5% to 10%.

Higher Sum Insured Benefit : Term insurance plan also gives the benefit of choosing a higher sum insured under annual or single premium payment. A maximum discount of 20% is offered concerning the sum insured preferred.

PENSION

PLAN

​

Benefits of Choosing Pension Plans

Death Benefit : Payable to the beneficiary when the insured or annuitant passes away. Alternatively, a death benefit may be a large lump-sum payment from a life insurance policy.

Tax Exemption : Charges paid to the insurer for any of the pension plans are exempted from tax.

Choice of Term : The insured can construct a good retirement portfolio by choosing a policy term that can offer great returns.

Age Flexibility : The insured also can select to increase his retirement age if required. Moreover, the insured will acquire a steady income depending on the annuity he chooses. Tax-free withdrawals of 1/3rd of the accrued price range upon retirement give the insured the liberty to fulfill wishes.

Special Protection : It protects the insured's family by giving the minimum assured amount based on a number of premiums paid in case of the demise of the insured.

Tax Benefits : Tax benefits may be availed on investment in addition to returns according to the income tax policies.

To see more or discuss possible work let's talk >>