What are the Best LIC Policy Plans to Invest in 2017 | LIC Agent Bengaluru
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What are the Best LIC Policy Plans to Invest in 2017?

BEST LIC POLICY PLANS 2017:

LIC Plans Plan Type Policy Term
LIC Jeevan Anand Combination of Endowment Plan& Whole life assurance 15 to 35 years
LIC Jeevan Lakshya Endowment Assurance plan 13 to 25years
LIC Jeevan Umang Guaranteed, deferred Pension plan 15, 20, 25 & 30 years
LIC Money Back Plan Endowment plan with periodical Money Back 20& 25 Years
LIC Children's Money Back Plan Money Back plan for higher education 8 to 25 years
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Life Insurance policy is one of the most important financial decisions of your life. But why is it so important? Well, regardless of how much you earn, no one knows what the future holds in case of unforeseen circumstances. The least you can do is, be responsible by securing your loved ones financial future by taking a Life Insurance policy, especially if you are sole breadwinner of the family.

LIC's Insurance policy is a great tool with combination of Protection, Savings & Returns. Premiums paid under insurance policies are eligible for Tax rebate u/s 80c. Maturity amount / Death claim proceedings paid are Tax free u/s 10 (10d).

When it comes to life insurance, LIC is the most trusted company enjoying more than 60 years of trust, faith and confidence of people. LIC has a huge range of unique & innovative insurance products to offer and it often becomes difficult to choose the right fit for oneself. Here are the top 5 bestLIC policy plans that one can choose fromwithout a doubt this year.

      1) NEW JEEVAN ANAND PLAN: A unique Double benefit plan with a Combination of Endowment and Whole-life plan. In this plan, the Policy holder needs to pay the premium for the stipulated period only. On the stipulated date, Complete maturity amount is paid by way of Sum Assured & Bonus [Totally Tax free amount u/s 10(10d)] and again Risk is covered to the extent of Sum Assured thru out his/her lifetime without paying any premium. Premiums which are paid under this plan are eligible for tax benefit under the section 80c.

      Key Features:

          1) It is whole life insurance plan with minimum sum assured offered is Rs.1,00,000/-
          2) Rebate is provided on opting for higher sum assured.
          3) Accidental death and disability benefits are the inbuilt rider of this plan.
          4) Premium paying frequencies include monthly, quarterly, half-yearly, and yearly.
          5) Accrued bonuses are paid out along with the sum assured.
        Eligibility Conditions & Restrictions
        Minimum age : 18 Years (Completed)
        Maximum age : 50 years
        Maximum maturity age : 75 years
        Policy Term : 15 years to 35 years
        Minimum Sum Assured : Rs.1,00,000
        Maximum Sum Assured : No limit
        Premium payment : Yearly / Half yearly / Quarterly / Monthly (Thru bank)
        Loan : Eligible after 3 years
        Surrender : Eligible after 3 years
        On Death before maturity : 1.25% of Sum Assured + Bonus is payable
        On Maturity : Sum Assured + Bonus is payable
        After Maturity on death : Sum Assured is payable
        Income Tax Benefits : (i) Premiums paid are eligible for Tax rebate u/s 80c
        (ii) Maturity amount / Death claim is Non-taxable u/s 10(10d)

        2) JEEVAN LAKSHYA PLAN: A complete family solution plan. This is a special plan for those who care about their family, especially children. This plan is taken by the parent for the benefit of their child’s future. The main advantage of this plan is, Money is paid at the fixed stipulated date (irrespective of Policy holders survives or not). In case of death of policy holders, 10% of Sum Assured is paid to the child/ nominee till the stipulated period for the uninterrupted education.Premiums which are paid under this plan are eligible for tax benefit under the section 80c.

        Key Features:

            1) The plan offers a minimum sum assured of Rs.1,00,000 and has no maximum limits.
            2) Sum assured + Simple Reversionary Bonus + Final Addition Bonus as maturity
            3) Paid premiums are exempted from income tax under 80C and maturity amount is tax free under 10 (10D).
            4) The premium can be paid yearly, half-yearly, quarterly and on monthly basis.
          Eligibility Conditions & Restrictions
          Minimum age : 18 years (Completed)
          Maximum age : 50 years
          Maximum maturity age : 65 years
          Policy Term : 13 years to 25years
          Premium paying term : Policy term -3years
          Minimum Sum Assured : Rs.1,00,000
          Maximum Sum Assured : No limit
          Premium payment mode : Yearly / Half yearly / Quarterly / Monthly (Thru Bank)
          Loan : Eligible after 3 years
          Surrender : Eligible after 3 years
          On Death : (i) Sum Assured (If chosen, Term Rider option)
          (ii) 10% of Sum Assured is paid every year till maturity of the policy term
          (iii) Further premiums are waived till maturity
          (iv) Sum Assured + Bonus is paid on the stipulated policy term
          On Maturity : Sum Assured + Bonus
          Income Tax Benefits : (i) Premiums paid are eligible for Tax rebate u/s 80c
          (ii) Maturity amount/Death claim is Non-taxable u/s 10(10d)

          3) JEEVAN UMANG PLAN: A whole life protection plan. In this world of uncertainty, this LIC plan offers a Government Guaranteed Tax free return for whole life @ 8% p.a. You need to pay the premium only for a stipulated period only. Again, on the Maturity / Death Sum assured & Bonus is paid (Tax-free amount). Premiums paid under this plan are eligible for tax benefit under section 80c.

          Key Features:

              1) 8% of SA per year as survival benefits, suitable plan for pension with whole Life Plan
              2) Availability of Accidental Benefit Rider, Term Rider and Critical Illness riders.
              3) Paid premiums are exempted from income tax under 80C
              4) Maturity amount is tax free under 10 (10D)
            Eligibility Conditions & Restrictions
            Minimum age : 90 days (Completed)
            Maximum age : 55 years for Premium paying term 15 years
            50 years for Premium paying term 20 years
            45 years for Premium paying term 25 years
            40 years for Premium paying term 30 years
            Minimum age at PPT : 30 years
            Maximum age at PPT : 70 years
            Premium paying term : 15, 20, 25 and 30 years
            Policy Term/ Maturity : 100 (-) minus Age at entry
            Minimum Sum Assured : Rs.2,00,000
            Maximum Sum Assured : No limit
            Premium Payment : Yearly / Half yearly / Quarterly / Monthly (Thru Bank)
            Loan : Eligible after 3years
            Surrender : Eligible after 3years
            After Premium paying term : 8% of Sum Assured (Tax-free) is paid every year for whole life
            On Maturity/Death : Sum Assured + Bonus is payable
            Income Tax Benefits : (i) Premiums paid are eligible for Tax rebate u/s 80c
            (ii) Maturity amount / Death claim is Non-taxable u/s 10(10d)

            4) MONEY BACK PLAN: A unique combination of Protection, Money Back & Tax benefit plan. In this plan, Money is paid at the fixed intervals. Premiums are paid for a stipulated period only. Premiums paid are eligible for Tax benefit under section 80c.

            Key Features:

                1) Minimum Basic Sum Assured - Rs.1,00,000 and Maximum Basic Sum Assured has No Limit.
                2) Premiums can be paid regularly at monthly, quarterly, half-yearly or yearly mode (through ECS only) or through SSS mode over the term of policy.
                3) Loan facility is available under this plan after the payment of premiums for at least three full years.
                4) Surrender Value: If the premium has been paid for full three years then the policy can be surrendered at any time during the policy term.
              Eligibility Conditions & Restrictions
              Minimum age : 13 years (Completed)
              Maximum age : 45 years
              Maximum maturity age : 70 years
              Minimum Sum Assured : Rs.1,00,000
              Maximum Sum Assured : No limit
              Policy Term : 25 years
              Premium paying term : 20 years
              Premium payment : Yearly / Half yearly / Quarterly / Monthly (Thru Bank)
              Loan : Eligible after 3rd year
              Surrender : Eligible after 3rd year
              Money Back is paid : End of 5th year - 15% of Sum Assured
              End of 10th year - 15% of Sum Assured
              End of 15th year - 15% of Sum Assured
              End of 20th year - 15% of Sum Assured
              On Maturity : 40% of Sum Assured + Bonus
              On Death : 1.25% of Sum Assured + Bonus
              (Already Money back paid will not be deducted)
              Income Tax Benefits : (i) Premiums paid are eligible for Tax rebate u/s 80c
              (ii) Maturity amount / Death claim is non-taxable u/s 10(10d)

              5) CHILDREN's MONEY BACK PLANGet attractive payouts at important stages of your child's growth, because children grow up very fast. Premiums paid are eligible for Tax benefit under section 80c.

              Key Features:

                  1) This is non-linked Money back plan which is aimed Savings cum Protection plan
                  2) This plan is aimed to meet children education, marriage etc.
                  3) Age of entry for child – Min 0 years and Max 12 years.
                  4) Term of insurance – 5 years to 20 years. However, children maximum age should be 25 by the time policy completes.
                Eligibility Conditions & Restrictions
                Minimum age : 0 years
                Maximum age : 12 years
                Policy Term : 25 – Age at entry
                Minimum Sum Assured : Rs. 1,00,000
                Maximum Sum Assured : No limit
                Premium payment : Yearly / Half yearly / Quarterly / Monthly (Thru Bank)
                Money back is paid : 18th year of child - 20% of Sum assured
                20th year of child - 20% of Sum assured
                22ndyearof child - 20% of Sum assured
                Loan : Available after 3 years
                Surrender : Available after 3 years
                On maturity : 40% of the Sum assured + Bonus
                Premium waiver benefit : Available from age 18 years to 55 years of proposer
                Income Tax Benefits : (i) Premiums paid are eligible for Tax rebate u/s 80c
                (ii) Maturity amount / Death claim is non-taxable u/s 10(10d)

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