LIC New Plans

Benefits of LIC's Bima Shree policy.

Mentioned below are the benefits of LIC's Bima Shree policy:

1. Death benefit: This policy provides a death benefit equal to 10 times of annualised premium or sum assured on maturity or 125% of basic sum assured along with accrued Guaranteed Addition if the policyholder dies within the first 5 years of the policy. If the policyholder dies after completing 5 years of the policy but before the date of maturity, a lump sum of the previously mentioned amount will be paid along with loyalty addition.
2. Survival benefit: If the policyholder pays all the premiums and survives all the specified periods during the policy term, a specified percentage of the Basic Sum Assured is paid out to him/her.
3. Maturity benefit: If the policyholder survives till the end of the policy term, a lump sum including Guaranteed Additions and Loyalty Additions will be paid out to him/her on the following terms:
4. 40% of basic sum assured for 14 years policy term
5. 30% of basic sum assured for 16 years policy term
6. 20% of basic sum assured for 18 years policy term
7. 10% of basic sum assured for 20 years policy term

LIC Jeevan Umang

LIC's Jeevan Umang policy offers a combination of income and insurance to provide financial support to the policyholders and their families. LIC's Jeevan Umang is a non-linked, with-profit, whole life insurance plan that provides annual survival benefits to policyholders starting from the end of the premium paying tenure till maturity. The plan also offers a lump sum payment upon death of the policyholder within the policy period or at the time of maturity.

Listed below are the features of LIC's Jeevan Umang policy

Benefits LIC Jeevan Umang

Mentioned below are the benefits associated with this plan:

1. Death benefit: Upon death before the commencement of risk, the premiums paid are returned without any interest. If the policyholder dies after the commencement of risk, sum assured on death is payable which is equal to 10 times of annualised premium or sum assured of maturity or basic sum assured. The amount should not be less than 105% of all the premiums paid.
2. Survival benefit: A survival benefit equal to 8% of the basic sum assured is paid to the policyholder if he/she survives till the end of the policy paying term. The amount is payable each year till the insured survives or till maturity of the policy.
3. Maturity benefit: If the policyholder survives till the date of maturity, a sum assured on maturity equal to the basic sum assured is payable.

LIC New Money Back Plan- 20 years

LIC's New Money Back Plan for 20 years is a non-linked, participating plan. It offers the policyholder and his/her family with wholesome financial support by paying a death benefit and survival benefit. A lump sum is payable in cases of death before maturity and maturity is paid out if the policyholder survives till the date of maturity.

Some of the notable features of LIC's New Money Back Plan - 20 years are listed below:

Benefits of LIC's New Money Back Plan -20 years

The benefits of LIC's New Money Back Plan -20 years are mentioned below:

1. Death benefit: In cases of death during the policy period, a lump sum including the sum assured on death, simple reversionary bonus, and final additional bonus is payable to the nominee/ beneficiary. The sum assured on death is equal to 10 times of the annualized premiums or higher than 125% of the basic sum assured. The amount payable should not be less than 105% of all the premiums paid.
2. Survival benefit: If policyholders survive till the specified periods mentioned in the policy, 20% of the basic sum assured is payable at the end of 5th, 10th, and 15th year of the policy.
3. Maturity benefit: 40% of the basic sum assured along with simple reversionary bonuses and final additional bonus is payable if the policyholder survives till the date of maturity.
4. Participation in profits: This policy is entitled to simple reversionary bonuses since it participates in the profits of the organisation. This benefit is applicable only if the policy is in force.

LIC New Jeevan Anand

LIC's New Jeevan Anand policy is non-linked, participating insurance plan. It provides financial security against unexpected death to its policyholders and also allows them to save simultaneously. This policy offers a lump sum at the end of the policy tenure or in case of death of the policyholder. Mentioned below are some notable features of LIC New Jeevan Anand

Benefits of LIC New Jeevan Anand

The following are the benefits offered by LIC New Jeevan Anand:

1. Death benefit: If the policyholder dies during the policy term, simple reversionary bonuses, final additional bonuses and sum assured on death is payable. The sum assured on death is equal to 10 times of annualised premium or higher than 125% of the basic sum assured. The benefits should not be lower than 105% of the premiums paid.
2. Benefits paid at the end of policy term: If the policyholder survives till the end of the policy term, a lump sum consisting of the basic sum assured, simple reversionary bonuses, and final additional bonus is paid. This benefit is applicable only if all the premiums are paid.
3. Participation in profits: LIC's New Jeevan Anand policy is eligible to participate in the profits of the organisation. This policy is entitled to receive simple reversionary bonuses during the policy tenure when the plan is active.

LIC e-term plan

LIC's e-term plan is non-participating term insurance plolicy which is exclusively available online. This non-participating plan offers financial security to the policyholder's family in case he/she passes away. The plan is only available through online application, no intermediaries are involved.

This plan provides two types of premium rates i.e. aggregate lives and non-smoker lives. Aggregate category rates are applicable on a basic sum assured less than Rs.49 lakh. Policyholders have an additional option of non-smoker rates if their sum assured is higher than RS.50 lakh. Non-smoker premiums are applicable based on the results of urinary cotinine tests.

Listed below are some noteworthy features of LIC's e-Term Plan

Benefit of LIC's e-Term Plan

The following is the benefit offered under LIC's e-Term Plan:

1. Death benefit: If the policyholder passes away during the policy tenure, the basic sum assured is paid to the nominee/beneficiary. No benefit is payable if the policyholder survives till the end of the policy term.