LIC has a variety of security
plans. These plans cater to all categories of people and to their diverse needs. The plans
are simply benefits and in providing happiness and security. LIC funds a number of
socio-economic projects in the country and LIC's plans offer tax advantages too. |
| Jeevan Sanchay |
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To fulfil the
dreams of your loved ones |
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| TIMES CHANGE - NEEDS CHANGE |
To meet the changing preferences of the customer, LIC is
proud to present 'Jeevan Sanchay' - the New Money Back Plan that assures
periodic payment of basic Sum Assured in instalments on survival with increasing LIFE
COVER. 'Jeevan Sanchay' gives you a choice of 3 convenient terms - 12,20,25
years, and added attractive features like Guaranteed and Loyalty Addition. It enables you
to provide for future necessities, to ensure the timely availability of funds for
marriages, education, illness and any unforeseen contingency.
'Jeevan Sanchay' takes care of
your future and MUCH MORE. |
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| PLAN |
| 1) 12 Years : |
On survival, policy money will be payable in three
instalments as under :
- 20% of the Sum Assured at the end of 4
years.
- Another 20% of the Sum Assured at the end of
8 years
- Balance 60% of the Sum Assured alongwith
Guaranteed & Loyalty Addition at the end of 12 years.
In case of unfortunate death at any
time during the 12 years term, the full Sum Assured is payable irrespective of the
instalments paid earlier. Accrued Guaranteed & Loyalty Addition, if any, will also be
paid. |
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| 2) 15 Years : |
On survival, policy money will be payable as under.
- 25% of sum assured at the end of 5 years.
- 25% of sum assured at the end of 10 years.
- Balance 50% of sum assured along with
Guaranteed and Loyalty Addition at the end of 15 years.
In case of any unfortunate death at
any time during the 15 years term, the basic sum assured is payable irrespective of
survival benefits already paid. Accrued Guaranteed & Loyalty Addition, if any, will
also be paid. |
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| 3) 20 Years : |
On survival, policy money will be payable in four instalments
as under :
- 20% of the Sum Assured at the end of 5
years.
- 2nd instalment - 20% of the Sum
Assured at the end of 10 years.
- 3rd instalment - 20% of the Sum
Assured at the end of 15 years.
- Balance 40% of the Sum Assured
alongwith Guaranteed & Loyalty Addition at the end of 20 years.
In case of unfortunate death at any time
during the 20 years term, the full Sum Assured is apyable irrespective of the instalments
paid earlier. Accured Guaranteed & Loyalty Addition, if any, will also be paid. |
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| 4) 25 Years : |
On survival, policy money will be payable in five instalments
as under :
- 15% of the Sum Assured at the end of 5
years.
- 2nd instalment - 15% of the Sum
Assured at the end of 10 years.
- 3rd instalment - 15% of the Sum
Assured at the end of 15 years
- 4th instalment - 15% of the Sum
Assured at the end of 20 years.
- Balance 40% of the Sum Assured along
with Guaranted & Loyalty Addition at the end of 25 years.
In case of unfortunate death at any time
during the 25 years term, the full Sum Assured is payable irrespective of the instalments
paid earlier. Accured Guaranteed & Loyalty Addition, if any, will also be paid. |
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| Miscellaneous |
| 1. |
Minimum age at entry |
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14 years (completed) |
| 2. |
Maximum age at entry |
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58 years |
| 3. |
Maximum age at maturity |
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70 years |
| 4. |
Minimum Sum Assured |
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Rs.25,000/- |
| 5. |
Mode of payment of premium |
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Yly/Hly/Qly/Mly/Mly(SSS) |
Kindly contact your agent or nearest Branch Office for
full details. |
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Jeevan Sneha |
Top |
A Flexible Moneyback Policy Exclusively for the
Women of Today |
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| Life
Insurance Corporatioin presents 'Jeevan Sneha" - a policy exclusively for WOMEN.
Women of today have excelled in every aspect of life. They have a distinct presence in
every profession, vocation or trade and have distinguished themselves in managing
household activities with an inherent instinct to save - to meet the unexpected and the
unforeseen. LIC has, therefore, specially designed a policy for women encouraging them to
SAVE for SAFETY & SECURITY. The Policy provides for fund in times of need like
Education, Marriage, Sickness etc. |
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| Unique
Features of 'Jeevan Sneha' |
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- Periodic Returns of Sum Assured with
Facility to encash at will. Attractive benefits if
retained with Life Iinsurance Corporation.
- Unique provision for payment of
Guaranteed Additions and Loyalty Addition.
- Life cover continues despite
non-payment of premium.
- "Jeevan Sneha" also covers
pregnancy and childbirth risk alongwith accident benefit
at no extra cost.
- Flexibility in Premium Payment.
- 'Jeevan Sneha' offers an option for
pension(annuity) on maturity.
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| Eligibility |
| All
Female lives between the ages 18 years(completed) and 50 years are covered under |
| this
policy. Physically disabled women are also eiligible subject to certain conditions. |
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| Benefits |
- Survival Benefits : 20% of the S.A. Payable at the end
of 5 years.
20% of the S.A. payable at the end of 10 years.
20% of the S.A. payable at the end of 15 years.
40% of the S.A. payable together with accrued Guaranteed
additions and Loyalty addition at the end of 20 years.
- Death Benefits : In case of death of the life assured
during the policy term, the full sum assured is payable in addition to survival benefits
paid earlier. The Guaranteed additions and Loyalty addition, if any, as per undernoted
provisions are also payable. "Jeevan
Sneha" is a without-profit plan, with attractive benefits of guaranteed and loyaity
addition.
- Guaranteed Additions : The Guaranteed Additions @ Rs.70/-
per thousand sum assured for each year premium paid, will be payable with maturity or
death claim.
- Loyalty Addition(Final
Payment) : If the premiums are paid for at least 5 years, Loyalty Addition
may become available along with the claim payment. Actual Loyalty Addition would depend on
Corporation's working experience.
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| Special
Benefits |
- Encashment of Survival Benefit as and
when needed : The policy holder at
her option may avail the survival benefit any time on or after its due date. If opted to
avail later, increased survival benefit(increment @11% compounded yearly) will be payable.
- Free Insurance Cover : After two years premiums have been paid, whenever premium payment
is discontinued, the risk cover for full sum assured will continue for 3 years from the
due date of first unpaid premium.
- Accident Benefit : Accident benefit would be available Under this policy and is
admissible during the period of extended cover of 3 years also without any extra premium.
- Flexibility in Premium
Payment : The policy holder can pay next
premium in advance at her convenience, for which a rebate @ 10% will be available. Advance
payment can also be in instalments - not more than 3.
- Pregnancy and Childbirth Risk : is also covered (with some exceptions)
without extra premium if the policy is in force.
- Option for Annuity : The policyholder can opt for a pension (annuity) in
lieu of the maturity amounts. (The option should be exercised 6 months before date of
maturity). The annuity rates prevalent at the time of maturity will be applicable.
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Jeevan Suraksha |
Top |
Pension Scheme Be at 60 what you are at 30. Self-dependant. |
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A pension scheme for the self
employed,professionals and the salaried.
Jeevan Suraksha - Your Personal Pension
Plan |
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Now also offers return of purchase price and Endowment Facility |
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| Introduction |
| One needs to make financial provisions to cover both - the risk of dying
early as well as the risk of living too long. Statistics prove that with increased
longevity, a man's retired life today is nearly half of his active life. LIC's pension
plan Jeevan Suraksha helps ensure a pleasant and self-reliant life, even after retirement. |
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| "Be
at 60 what you are at 30" |
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| Plan Type
Jeevan Suraksha is available in
three types to suit individual needs
- Pension with life cover
- Pension without life cover
- Pension with endowment type
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| Pension Oprions
The Pension will be payable monthly starting at the end of the chosen
deferment period (waiting period) as per the option exercised by the purchased in all the
above types of Plan. The following options are available in the plan. |
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| Life Pension
Pension for life during the life time of the
purchaser.
Top |
Guaranteed Pension Pension to the purchaser for
his/her life time. If the purchaser dies after the commencement of the pension, the spouse
(nominated by the purchaser) will be paid pension at half of the rate during his/her life
time.
Pension with return of Purchase price * Pension for life time to the purchaser; purchase price will be returned to the
legal heirs/nominee on death of the pensioner.
Top |
| Benifits Under Different Plan Types |
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BENEFITS UNDER PLAN WITH LIFE COVER On vesting date (at the time of start of pension)
- Option to commute 25% of the notional cash
option including terminal bonus, if any, free of tax.
- Pension as per the option selected: on the
balance notional amount, if commutation is exercised; otherwise full pension.
On death of the purchaser (before the
end of deferment period)
The spouse will be eligible for a
life pension with a guarantee period of 15 years. The amount of pension will be a minimum
of 50% of the target pension. The percentage can go upto 95% depending upon the duration
of the policy at death, age of the proposer at entry, deferment period, etc. In case there is no spouse
named by the purchaser to receive the pension, a lumpsum amount known as the proportionate
notional cash option will be payable to the nominee.
Top |
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Benefits under
plan without life cover On vesting (at the time of start of pension)
- Option to commute 25% of the notional cash
option and terminal bonus, if any.
- Pension as per the option selected: on the
balance notional amount, if commutation is exercised; otherwise full pension.
On death of the purchaser (before the
end of deferment period) Duration
at Death Benefit Payable to nominee/legal heir |
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| Within first 3 policy years |
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Return of premiums |
| During 4th to 6th |
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Return of premiums with
interest |
| Policy year |
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of 8% p.a. compounding yearly. |
| After 6th policy year |
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Return of premiums with
interest
Of 9% p.a. compounding yearly. |
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Terminal
Bonus under Plan Types (A) and (B)
One-time bonus, if any, will be attached to the notional cash option at the end of the
deferment period under without and with life cover plans. Go Top |
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Benefits under endowment
type On vesting (at the time of start of pension)
- Option to commute 25% of basic Sum Assured
together with Guaraaaaanteed Addition and Loyalty Addition, if any, free of tax.
- Pension as per the option selected: on the
balance amount, if commutation is exercised, otherwise full pension.
On death of the purchaser (before the
end of deferment period)
- The spouse can exercise an option to commute
25% of basic Sum Assured and accrued Guaranteed Additions, free of tax.
- The remaining Basic Sum Assured and accrued
Guaranteed Additions, if commutation is exercise; otherwise full amount will be utilised
to purchase pension for spouse as per option selected.
In case there is no spouse named by the
purchaser to receive pension, all the benefits will be payable in lumpsum to the nominee. o Top |
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Guaranteed Additions
Guaranteed Additions at the rate of Rs.75 per thousand of the basic Sum Assured will
accrue at the end of each policy year for which premiums are received and shall get
attached to the Endowment type plan.G
Loyalty Addition
Based on the results of actuarial valuation also an
additional amount called the Loyalty Addition, if any, declare by the Corporation on the
expiry of the deferment period, shall become payable provided the policy is in full force.
This benefit is available only under the Endowment type. Go Top
Other Features
Tax Benefits
- Contributions under Jeevan Suraksha upto
Rs.10,000 p.a. will be eligible for tax exemption under Sec. 80 CCC(1) of the Income Tax
Act, 1961.
- Commuted value upto 25% as allowed under the
plan is free of tax. Top
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| Plan Parameters |
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| Minimum age at
entry |
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25 years last
birthday |
| Maximum age at
entry |
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65 years last
birthday |
| Minimum vesting
age (Age at which pension starts) |
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55 years last
birthday |
| Maximum vesting
age |
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70 years last
birthday |
| Minimum Deferment
period (Waiting Period) |
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5 Years |
| Maximum Deferment
period |
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35 Years |
| Mode
of Premium Payment (Frequency) |
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Yearly,
Half-yearly, Qly, Mly |
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| Note
: Option for single premium is also
available under without life cover plan with minimum entry age of 25 years. |
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