Life Insurance: Your Final Gift

Life Insurance is a type of insurance where every person protects his/her family from the unexpected and uncertainties incidents. It is a preparation for any unwanted incidents. This Policy is essential for the earning person who works for his /her family for providing financial assistance. Life insurance gives stability and security to the entire family of an individual. When person lost his/her job buying this policy can provide financial assistance in child education and funeral arrangements etc. According to the family needs and requirements, insured choose the policy that will accurately fit. Take the plan that will suitable for their family situation. Whole insurance, the universe insurance and the term insurance are the types of insurance policy.

A new product is launched by LIC named as LIC Jeevan Saral. In this plan, lots of flexibilities are available with unit linked insurance plans. Features of this plan include:-

1.      Premium can be paid monthly in this plan.

2.     12 to 49 aged people paid 250 rupees per month of minimum premium and 400 rupees per month by the person of age 49 to 60.

3.      It covers 250 times the monthly premium paid.

4.    The nominee will get the premium paid including the yearly premium, life cover amount plus bonus will also be given in case of usual death of the policy holder.

5.      The insured get the maturity amount and the loyalty addition of he/she survived.

6.      After the completion of 3 years, the policy can be surrendered.

7.      Stipulated minimum surrender value is 30%.

8.      Under this policy loan facility is also provided.

9.      In this product partial surrender is also permitted.

10.  It is a flexible Investment that provides insurance cover and free of tax.

11.  No fixed interest paid, but every year loyalty addition is paid.

LIC Jeevan Ankur Plan is an established Plan with benefits. In this Plan, parent is the Life Insured and the child is the beneficiary. The benefits are payable for the child’s future even till the end of the policy period the parent does not survive. Premium is paid till the end of the policy tenure in this plan. Whether the life insured alive or not the Sum Assured and the Loyalty Additions are paid as Maturity Benefit. Payment of 10% of the Sum assured every year from the date of death of the Insured till the end of the policy period as Income Benefit. The maturity benefits are paid over the completion of policy tenure period.