For Individual policy enquiry through SMS, Type

LIC policy details

ASKLIC < POLICY NO > PREMIUM/REVIVAL/BONUS/LOAN/NOM

Send To 56767877 (“Policyholders can make same enquiries by sending SMS to 9664996649)
Premium – Installment premium under policy
Revival – If policy is lapsed, Revival amount payable
Bonus – Amount of Bonus vested
Loan – Amount available as Loan
NOM – Details of Nomination

For e.g. if your policy no is 9898787878 and you want to get name of the nominee for the policy

Type: ASKLIC 9898787878 NOM and send it to 56767877

SMS for Pension Policies:
To get Annuity plan status you need to type following in your mobile SMS
Type LICPension

The post Now SMS to 56767877 9664996649 for LIC Policy Details appeared first on TechAccent.

LIC Jeevan Tarun Money Back Plan

Option Name Survival Benefits Maturity Benefits
Option 1 No Survival Benefit 100% of Sum Assured
Option 2 5% of Sum Assured every year for 5 years 75% of Sum Assured
Option 3 10% of Sum Assured every year for 5 years 50% of Sum Assured
Option 4 15% of Sum Assured every year for 5 years 25% of Sum Assured

LIC Jeevan Tarun Policy (Plan No.834) Eligibility Conditions

Entry Age (in Years)
Minimum – 90 days (Completed)
Maximum – 12 years (last birthday)
Maximum Maturity Age
Maximum – 25 Years (last birthday)

LIC Jeevan Tarun Money Back Plan Policy Term:

25 is the Entry Age in years

Sum Assured (SA)
Minimum – Rs. 75,000
Maximum – No limit

Note: (From Rs. 75,000 – 1,00,000) – SA (in multiples of Rs. 5000)
Above Rs. 1,00,000 – SA (in multiples of Rs. 10,000)
Premium Paying term (PPT)
(20 – Entry Age) (in years)

Premium pay Mode : Yearly, Half, Quarterly, Monthly(ECS) and also via online by visiting the licindia official websites.

LIC Jeevan Tarun Money Back Policy Benefits :

ON DEATH: On death before the date of Commencement of Risk:An amount equal to the total amount of premium’s paid excluding taxes,extra premium and rider premium,if any shall be payable.

On death after the date of commencement of Risk: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 10 times of annualized premium or Absolute amount assured to be paid on death i.e. 125% of Sum Assured.This death benefit shall not be less than 105% of the total premiums paid as on date of death.

LIC Jeevan Tarun Money Back Surrendered Value :

LIC Jeevan Tarun Money Back Policy can be Surrendered at any time during The policy term provided at least 3 full years premiums have been paid completed.

LIC Jeevan Tarun Money Back Loan Availablity : Loan Available Under this Money Back plan after the Payment of Premiums for at least 3 full years

Income tax benefit : Premium paid under this plan is eligible for TAX rebate under section 80c. and Maturity under this plan is free under sec 10(10D).

The post LIC Jeevan Tarun Money Back Plan Review Maturity Benefit Sum Assured and Interest Rate appeared first on TechAccent.

LIC New Children Money back Policy

LIC Children Money Back Policy Eligibility:

Entry Age :

Minimum: 0 Years
Maximum: 12 Years

Sum Assured
Minimum: Rs 100000/-.
Maximum: No Limit.

Policy Term
25 years Age at Entry

Maturity Age
Minimum: 25 Years.
Maximum: 25 Years.

For Ex: Child Age: 0 Years, Maturity Age: 25 years -0 years = 25 years.

If Child age: 6 years, Maturity age: 25 – 6 = 19 Years.

LIC New Children Money back Policy Premium Payment Mode

Yearly, Half Yearly, Quarterly, and Monthly. (ECS through only salary Deduction SSS).

LIC Children Money Back Policy Benefits :

ON DEATH: On death before the date of Commencement of Risk:An amount equal to the total amount of premium’s paid excluding taxes,extra premium and rider premium,if any shall be payable.

On death after the date of commencement of Risk: 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 10 times of annualized premium or Absolute amount assured to be paid on death i.e. 125% of Sum Assured.This death benefit shall not be less than 105% of the total premiums paid as on date of death.

Survival Benefits : If policy in full fource:

Completion Age 18years-20% of MSA
Completion Age 20years-20% of MSA
Completion Age 22years-20% of MSA

After the policy matures, maturity amount which includes 40% of sum assured + Accrued Bonuses (vested Simple Reversionary Bonuses) + Final Additional Bonus (FAB – if any) will be paid.

Revivals:

If premiums are not paid within the grace period then the lic new children money back policy will lapse. A lapsed policy can be revived during the lifetime of the Life Assured, but within a period of 2 consecutive years from the date of first unpaid premium and before the date of maturity.

Lic New Children Money Back Policy 832 PWB RIDERS

LIC New children money back policy in premium waiver benefit ( PWB ) riders are Available. This benefit can be availed usually in case of accident,disability or death of the person who was paying the premiums when the insured is incapable of paying premiums due to his loss of revenue.

SURRENDERED VALUE :

Lic New Children Money Back policy can be surrendered at any time during the policy term provided premiums have been paid for full three years.

Guaranteed Surrender Value:

Lic New Children Money Back policy Guaranteed Surrender Value shall be a percentage of total premiums paid (net of taxes) excluding any extra premiums and premium for rider.

Special Surrender Value:

Children Money Back policy 832 will pay Special Surrender Value and it is applicable on the date of surrender provided the same is higher than Guaranteed Surrender Value.The Special Surrender Value will be the discounted value of the sum of Maturity Paid-up Sum Assured and vested Simple Reversionary Bonuses.

Loan Availablity :

Loan Available Under this plan after the Payment of Premiums for atleast 3 full years

The Maximum loan that can be granted as a percentage of Surrender Value shall be as under:

For enforce policies – upto 90%

For paid-up policies – upto 80%

INCOME TAX BENEFIT :

Children Money Back policy 832 Premium paid is eligible for TAX rebate under section 80c. and Maturity under this plan is free under sec 10(10D).

The post LIC New Children Money back Policy Review Benefits Sum Assured Eligibility Calculator appeared first on TechAccent.

LIC Money Back Policy

Lic New Money Back Plan Eligibility:

Minimum age: 13 years
Maximum age: 45 years

Policy Term : 25 years

Sum Assured
Minimum sum assured: Rs 1,00,000
Maximum sum assured: No Limit.

Premium Paying Term – 20 years
Premium Paying Mode – Monthly (SSS, ECS), Quarterly, Half yearly, Yearly.

LIC Money Back Policy Benefits

ON DEATH: Sum Assured on Death , vested Bonus & FAB if any.
Sum Assured on Death=Higher of 125% of Basic sum Assured Or 10 Times of Annualized Premium.
Death Benefits Shall not be less than 105% of total premiums paid as on date of death.
The premiums exclude taxes,Extra premium and rider premiums.

New Money Back Plan 25 year’s policyholder receives survival benefits at 15% Sum Assured 5th, 10th, 15th, 20th years .

At the end of 25th year, Policyholder receives Maturity Benefit which is 40% Sum Assured – Survival Benefits paid + BONUS +FAB, etc.

In case Policy holder dies within the term of the Policy, Death Benefit paid to Nominee i.e. Sum Assured + Bonus acquired till that Year.
We can opt for Accident Benefit Rider and Critical Illness Rider by paying small Amount with the Premium.New Money Back Policy – 25 years there is High Bonus and High liquidity and saving point.

Surrendered value :
The Policy can be Surrendered for cash provided at least 3 full years premiums have been paid completed.The Guaranteed Surrender value during policy term shall be a percentage of total premiums paid excluding extra premiums and premiums for riders,if opted for.This percentage will depend on the policy term and policy year in which the policy is Surrendered.

LIC Money Back Policy Loan :
Money Back Plan – 25 years Plan No. 821 Available after payment of 3 full years premiums. premiums. % of loan modified Loan granted shall be 90% of the The maximum amount of loan that can be granted Surrender Value in case of in force as a percentage of Surrender Value be as under: policies and 85% of the Surrender For in force and fully paid-up policies – up-to 90% Value in case of Paid-up policies. For paid-up policies – 80% Foreclosure action shall be initiated on Foreclosure action shall not be taken under fully default of 2 or more half-yearly loan paid-up and in force policies even if there is interest installments. default of loan interest.

LIC Money Back Policy Income Tax Benefit:

Premium paid under this plan is eligible for TAX rebate under section 80c. and Maturity under this plan is free under sec 10(10D).

The post LIC Money Back Policy Review Maturity Death Benefit appeared first on TechAccent.

LIC New Bima Bachat Policy

Lic New Bima Bachat plan no 816 Policy the premium is paid only once and 15% of the Sum Assured is paid after every 3 years and the entire Single Premium paid plus Loyalty Additions are paid on Maturity. However, if the Life Insured dies within the policy tenure, the entire Sum Assured is paid irrespective of the amount of money paid as Survival Benefit. In addition to the Maturity benefit, on maturity of the policy, the single premium shall be returned along with Loyalty Addition, if any. Lic New Bima Bachat policy also takes care of liquidity needs through its loan facility.

Lic New Bima Bachat policy Eligibility

Entry Age
Minimum: 15 years.
Maximum:
66 years for 9 years policy term.
63 years for 12 years policy term.
60 years for 15 years policy term.
Sum Assured

Minimum:
35,000/- for 9 years policy term
50,000/- for 12 years policy term.
70,000/- for 15 years policy term.
Maximum: No Limit.

Policy Term : 9,12 or 15 years
Maturity Age : Maximum: 75 Years
Premium payment mode : Single premium only

Rebates :
Term | Sum Assured | Rebate

9 years Less than Rs. 75,000 NIL

Rs. 75,000/- to Rs. 1,50,000/- 6%

Rs. 1,50,000/- and above 8%

12 years Less than Rs. 1,00,000 NIL

Rs. 1,00,000/- to Rs. 2,00,000/- 4%

Rs. 2,00,000/- and above 6%

15 years Less than Rs. 1,50,000 NIL

Rs. 1,50,000/- to Rs. 3,00,000/- 3%

Rs. 3,00,000/- and above 5%

Lic New Bima Bachat Policy Benefits :
ON DEATH: During 1st five years Policy years : Sum Assured Only. After Completion of five policy years : Sum Assured +Loyalty Addition, if Any.

ON SURVIVAL : For policy term of 9 years: 15% of Sum Assured,After 3rd & 6th policy year. For Policy term of 12 years : 15% of sum assured,after 3rd,6th,& 9th policy year.
For Policy Term of 15 years : 15% of sum assured,after 3rd,6th,9th & 12th Policy year.

Maturity Time : Single Premium Paid + Loyalty Additions,if Any. At the end of the policy term i.e. on Maturity, the single premium that you had originally paid, along with the Loyalty Addition (L.A) will be paid to you as Maturity Benefits of the plan. Note here that loyalty benefit is not guaranteed and declared upfront – it depends on profits of LIC

Income tax benefit: Premium paid under this plan is eligible for TAX rebate under section 80c. and Maturity under this plan is free under sec 10(10D).

Loan Available under this New Bima Bachat Policy at any time after completion of one policy year.Loan can be granted to a maximum of 60% of Surrender Value as on the date of sanction of loan.

The post LIC New Bima Bachat Policy Review, Policy Benefits, Sum Assured, Maturity Period and Other Details appeared first on TechAccent.

Lic Jeevan Lakshya plan

Lic Jeevan Lakshya plan(833) Introduction :
Lic Jeevan Lakshya plan(833) is a participating non-linked plan which offers an attractive combination of risk cover and savings. Jeevan Lakshya plan provides for Annual Income benefit that may help to fulfill the needs of the family, primarily for the benefit of children, in case of unfortunate death of Policyholder any time before maturity and a lump sum amount at the time of maturity irrespective of survival of the Policyholder.

This plan also takes care of liquidity needs through its loan facility.This is a limited premium paying term conventional With-Profits Endowment Assurance plan where premium paying term is less than policy term by three years.

Lic Jeevan Lakshya plan(833) Eligibility

Term : 13 to 25 years
Premium Pay Term : (Policy Term-3) Years
Min.Entry Age : 18 Year Completed
Max.Entry Age : 50 Year (Nearest Birthday)
Max.Maturity Age : 65 Year
Min.Sum Assured : 1,00,000
Max.Sum Assured : NO LIMIT (Depending upon Income)
Premium Pay Mode : Yearly, Halfly, Quarterly, Monthly(ECS)

Maximum Accidental Death and Disability Benefit Rider up to age 65.

Lic Jeevan Lakshya plan(833) Rebates:

Sum Assured Rebates:
Sum Assured = Rebate
Rs.1,00,000 to Rs.1,90,000 = NIL
Rs.2,00,000 to Rs.4,90,000 = 2 % per thousand basic sum assured
Rs. 5,00,000 & above = 3% per thousand basic sum assured

Mode Rebates:
Mode = Percentage
Yearly = 2% of tabular premium
Half-yearly = 1% of tabular premium
Quarterly and monthly = Nil

Lic Jeevan Lakshya plan(833) Policy Benefits :

On Death : Benefits payable on death:

Sum Assured on Death + Bonuses & Final Additional Bonus, if any, shall be payable in following manner.

Annual Income Benefit equal to 10% of the Basic Sum Assured (till policy anniversary prior to date of maturity)

Assured Absolute Amount of 110% of Basic Sum Assured, payable (on due date of maturity)

Along with Bonuses & Final Additional Bonus, if any, on maturity. (on due date of maturity)

On Survival : On Survival Basic Sum Assured + Vested Bonus + FAB if any.

Lic Jeevan Lakshya plan(833) Policy Surrendered Value :
The policy can be surrendered for cash provided at least three full years premiums have been paid.The Guaranteed Surrender value during policy term shall be a percentage of total premiums paid (net of service tax) excluding extra premiums and premiums for riders, if opted for.

This percentage will depend on the policy term and policy year in which the policy is surrendered

Lic Jeevan Lakshya plan(833) Policy Loan :
Loan can be availed under Jeevan Lakshya policy provided the policy has acquired a surrender value and subject to the terms and conditions as the company may specify from time to time.

Income Tax Benefit :
• Premium paid under this plan is eligible for TAX rebate under section 80c.
• Maturity under this plan is free under sec 10(10D).

The post Lic Jeevan Lakshya Plan Policy Review and Maturity Benefits appeared first on TechAccent.