What is LIC Komal Jeevan plan?
What is LIC Komal Jeevan plan?
LIC’s Komal Jeevan Plan is a child insurance plan that offers guaranteed money back facility. In the unfortunate event of the child’s death during the policy tenure, the sum assured along with the guaranteed additions are paid out and the policy terminates. The following are the key features of this LIC Child Plan.
What is loyalty addition in Komal Jeevan?
Loyalty Additions: This LIC Komal Jeevan Plan generates profits by engaging in the corporation’s life insurance business to earn a considerable amount of profits. These bonuses are paid on the termination of the policy tenure or on the death of assured.
How can I surrender LIC Komal Jeevan policy?
To surrender your policy, you need the original policy bond, photocopy of your premium receipts, application for surrender value, relevant LIC forms (Form no. 3510/5074) and revenue stamp. You need to submit the documents and forms, duly filled, at the LIC office where the policy was issued.
What is Jeevan Anand policy 149?
Key Features of LIC Jeevan Anand – Plan 149 Jeevan Anand plan is a combination of an Endowment Assurance plan and a Whole Life plan. Maturity benefit includes Sum Assured + Accrued (Simple reversionary) Bonus + Final addition bonus (If any) and shall be available after the completion of the term.
Is Jeevan Tarang a good policy?
Benefits and Advantages of LIC Jeevan Tarang Plan Sum assured as well as the loyalty additions are paid out as death benefit. Annual Survival Benefit: The plan provides annual survival benefits at the rate of 5½ % of the Sum Assured after the policy owner chooses an Accumulation Period.
What is Jeevan Kishore policy?
LIC Jeevan Kishore Plan is an Endowment Assurance Plan for a child such that Sum Assured plus Bonus would be paid for the child’s benefit on the term’s maturity.
What is Jeevan Anand?
Jeevan Anand is a life endowment plan that comes with a multitude of benefits for the policyholders throughout the term period. As per the plan, the insurance cover continues even after completion of the premium payment term.
How is LIC surrender value calculated?
The paid-up value is calculated as original sum assured multiplied by the quotient of the number of paid premiums and number of payable premiums. On discontinuing a policy, you get special surrender value, which is calculated as the sum of paid-up value and total bonus multiplied by surrender value factor.
How is LIC endowment maturity amount calculated?
Details of your Plan:
- Sum Assured (A): = Rs. 5,00,000.
- Total Bonus Amount on Maturity (B): * = Rs. 1000.
- Maturity Amount (A+B): = Rs. 35,000.
- Period of Maturity = Dec, 2021.
What is the maturity amount of LIC Jeevan Anand?
Scenario 1:
| Year of maturity | 2039 |
|---|---|
| Age at maturity | 50 years |
| Sum Assured | Rs.5,00,000 |
| Bonus additions | Rs.8,00,000 (approx.) |
| Total amount payable | Rs.13,00,000 |
Which plan is best in LIC?
Best LIC Plans for 2021
| LIC Policies | Plan Type | Policy Term |
|---|---|---|
| LIC Jeevan Umang | Whole Life Insurance | 100 years minus(-) the age at entry |
| LIC Jeevan Amar | Term Assurance Plan | 10 years-40 years |
| LIC Money Back 25 years | Money Back Policy | 25 years |
| LIC New Jeevan Anand | Endowment Plan | 15 years-35 years |
What is the benefit of Jeevan Tarang?
If you avail LIC’s Jeevan Tarang, you’ll be able to avail the following benefits: Maturity Benefit: Being a Whole Life Plan, it matures when the Life Insured is 100 years old. Thus, if the Life Insured survives till the age of 100 years, then the entire Sum Assured + Loyalty Bonus is paid out and the policy terminates.
Is the LIC Komal Jeevan plan still available?
This plan has been withdrawn by the insurance company and is no longer available for sale. LIC’s Komal Jeevan Plan is a children’s moneyback policy in which the premium is returned on the policy anniversary after the child attains 18 years, 20 years, 22 years and 24 years.
When to buy a Komal Jeevan maturity return?
Komal Jeevan (Table 159) is a children’s Money back plan in which the maturity returns will be paid after the child attains 18, 20 , 22, 24 and 26 yrs. This plan can be bought by any of the parents or grandparent of the child. In most cases, Father would be the proposer.
What is the deferment period for LIC Komal Jeevan?
*Deferment period counted for this policy is 18 years minus the entry age of the child. Lakshay took LIC Komal Jeevan Plan for his newly born baby who is of 6 months. He purchased a policy with a lump sum premium payment option for the whole policy tenure of 26 years.
Which is term Rider benefit of Komal Jeevan?
Term rider benefit: term rider benefit can be availed by the proposer to the extent of 20% of the basic S.A. under the policy not exceeding Rs.100000/- the benefit will be payable in case the proposer dies before the policy anniversary on which the child completes 18 years.