LIC LIFE INSURANCE PLANS WITH HIGH RETURN

LIC is the first name comes to mind when one thinks of getting any insurance policy as it has been an eternal name among insurance offering bodies in India. Today, there may be a flood of insurance agencies, but LIC has been successfully managing itself to be the first bankable body of insurance event. There are a few schemes as per Reviews of LIC Life Insurance Plans that ensure higher return than ever.

Overview

POLICY	PLAN TYPE	ENTRY AGE	MAX MATURITY AGE	Policy TERM	MIN PREMIUM	MIN SUM ASSURED
LIC New Children’s Money Back	Traditional	0-12yrs	25 yrs.	25- entry age	24,000/	1,00,000/
LIC Jeevan Anand	Traditional Endowment Plan	18-50 yrs	75 yrs.	15-35 yrs	N/A	1,00,000/
LIC Jeevan Saral	Endowment Plan	12-60 yrs	70 yrs.	10-35 yrs	250/ & 400/	250 times monthly premium
LIC Jeevan Akshay	Immediate Annuity Pension Plan	30-85 yrs	N/A	N/A	15,00,00/	7190/
LIC e- term	Pure Term Plan	18-60 yrs	75 yrs	10-35 yrs	46,00/	25,00,000/

LIC New Children’s Money Back Plan

It’s a protection plus saving plan intended to ensure children's educational, marriage sort of needs. The plan was started in the year 2015. It's a regular premium plan with unlinked and with-profit nature. Keeping in view the crucial period of a child's evolution, one has got to give this plan a thought of availing it.

Features and Benefits

Listed below are the salient features as per Reviews of LIC Life Insurance and advantages of this plan:

·         Monthly, quarterly, half yearly and annually premium payment provisions are available.

·         The SSC mode of premium payment lets you pay over the term while ECS mode allows you to pay a premium in time mention in the first point above.

·         If the premium is paid for three years regularly, then the policyholder becomes liable to draw loan.

·         The Basic Sum Assured is in multiples of 10,000/.

·         The amount of 100,000/ has to be Minimum Sum Assured while Maximum Sum Assured has no limit.

·         Entry age is 0-12 years.

·         The maturity of the policy shall be the difference of 25 and the entry age.

·         The policy is liable to be surrendered if one has paid the premium regularly for three years.

Eligibility

·         The insured should be an Indian citizen

·         Age should be between 0 to 12 years.

·         The amount of Minimum Sum Assured will have to be 100,000/

      Inclusions

·       In a case of sudden demise of the insured ward before the start of risk, an amount equal to premiums paid will be given.

·     If the death of the insured happens after the onset of risk, then Sum Assured along with Accrued Bonuses and Additional Bonuses shall be paid.

·         After completion of 18 years, the child is paid 20% of Sum Assured.

·         The Same proportion of Sum Assured is paid to the child when he/she completes 20 and 22 years.

·       After completion of 25 years of age, the insured get the 40% of Sum Assured Plus Accrued Bonuses Plus Final Additional Bonuses according to Reviews of LIC Insurance Plans

       Documents Required

·         A copy of Birth Certificate.

·         Documents supporting Parenthood of the ward.

·         Address proof.

·         Identity proof.

·         Death certificate. (In case of sudden demise)

·         Documents supporting accident as the case may be.

       Claim Process

·         Arrange all policy documents.

·         Arrange all documents were promoting maturity, accident or death. (By nominee in the event of death of the insured)

·         Submit all above mentioned documents.

·         Claim the amount.