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9 January 2016

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8 January 2016

SUVICHAR

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7 January 2016

JIVAN SIKHAR LIC'S NEW PLAN LAUNCHED



LIC Jeevan Shikhar Plan 837 | Review, Maturity, Death Benefits


LIC Jeevan Shikhar Plan 837 Review

LIC Jeevan Shikhar Plan 837 is a new Endowment Plan introduced by Life Insurance Corporation of India. This Jeevan Shikhar Plan will start working from 11th January 2016. A Unique Identification Number is given for LIC’s Jeevan Shikhar Plan that is 512N305V01. The policyholder has to quote the UIN no. in all relevant documents that are required to buy the policy. LIC Jeevan Shikhar 837 plan is a Non-Linked, with Profit, Saving cum Protection Single Premium Endowment Assurance plan. The Insured can avail a Death Benefit of ‘Sum Assured equal to 10 times‘ the Tabular Single Premium, which is payable after the commencement of the risk. LIC Endowment plan is a close ended Plan, which will be open for 120 days from the date of launch. So, those who are Interested in LIC Jeevan Shikhar Policy may hurry up to buy this plan as it will be opened for Limited Period of 120 days.
Lic New Jeevan Shikhar Plan 837 provides Death Benefit by the payment of additional premium. Under LIC Jeevan Shikhar Plan 837 the insured can avail Maturity Sum Assured along with Loyalty Addition if any shall be payable. New Jeevan Shikhar Plan also takes care of Liquidity needs through its loan facility. This plan offers a combination of protection and saving features. You can use LIC Jeevan Shikhar Plan 837 Calculator to calculate Premiums and Benefits. We provide Lic Jeevan Shikhar Plan Maturity Calculator and Premium Calculator to calculate Maturity benefits and Death benefits. Refer Lic Jeevan Shikhar plan 837 premium chart and Lic Jeevan Shikhar Premium calculator before buying this plan.

Lic New Jeevan Shikhar Plan 837 Eligibility Conditions

Eligibility Conditions for basic plan are,
Entry Age:
  • Minimum: 6 years (completed).
  • Maximum: 45 years (nearer birthday).
Minimum Maturity Sum Assured:
  • Rs. 100,000/-.
Maximum Maturity Sum Assured:
  • No Limit.
Policy term:
  • 15 years.
Premium Payment Mode:
  • Single Premium.
Maturity Sum Assured: 
  • Multiple of Rs. 20,000/-.
Documents required for a new policy:
  • Application form/Proposal form along with a photo.
  • Address proof.
  • Age proof.
  • Medical reports (if required).

Lic Jeevan Shikhar Endowment Plan 837 Benefits

Maturity Benefits:

On survival of the Life Assured to the end of policy term,
Maturity benefit (Benefits payable on maturity) = Maturity Sum Assured + Loyalty  Additions if any.

Death Benefits:

Two types of Death Benefits are covered in this New Jeevan Shikhar 837 Plan.

  • On Death during the first 5 years of the policy

    • Before the date of Commencement of Risk: Single Premium without interest will be refunded to the nominee in the case of Life Assured dies before the date of commencement of the risk.
    • After the date of Commencement of Risk: A Death Benefit of Sum Assured equal to 10 times the Tabular Single Premium is payable in a case of Life Assured dies after the date of commencement of the risk.

  • On Death After first 5 years of the Policy but before the Maturity Date

Sum Assured equal to 10 times the Tabular Single Premium along with Loyalty Additions, if any, is payable in a to the nominee in a case of the Life assured dies after first five years of the policy.

Loyalty Addition:

Under this plan, the policyholder will be eligible for a share in surplus (profits) in the form of Loyalty Addition. The Loyalty Addition, if any, will be payable on death or surrender. It is provided the policy has run for at least five policy years or on policyholder surviving to the maturity.

Jeevan Shikhar Lic Plan 837 Policy Rebates

The rebates for the basic Lic Jeevan Shikhar Plan are given below.
  • High Maturity Sum Assured Rebate.
  • Corporate Employee’s Insurance Scheme (CEIS) Rebate.

High Basic Sum Assured Rebate

Maturity Sum assured
 Reduction in Tabular Premium as per
Rs.1000 M.S.A 
Below Rs. 2,00,000/- NIL.
Rs. 2,00,000/- to Rs. 4,80,000/- Rs. 15.00/-
Rs. 5,00,000/- to Rs. 9,80,000/- Rs. 20.00/-
Rs. 10,00,000/- and above Rs. 25.00/-

Corporate Employee’s Insurance Scheme (CEIS) Rebate

The Assured will be eligible for Corporate Employee’s Insurance Scheme (CEIS) Rebate of 2% of the Tabular Single Premium.

 LIC New Plan – Jeevan Shikhar 837 Policy Buying Procedure

These are the Required documents to buy LIC Jeevan Shikhar Policy.
  • Application form/ Proposal form No. 300, 340 and 360 issued bu U & R Department along with a photo.
  • Address proof.
  • Age proof.
  • Medical reports(if required).

Claim Procedure of LIC Jeevan Shikar Plan

The documents that are needed for claim procedure under Lic Jeevan Shikhar 837 Policy are given below.
  • Original Policy Document
  • NEFT Mandate Form.
  • Proof of Title.
  • Death Certificate.
  • Accident/ Disability Proof (as mentioned in the rider circular).
  • School/ College/ employer’s certificate.
  • If age is not admitted under the policy, the proof of age of the Life Assured shall also be submitted.

LIC Jeevan Shikhar Plan 837 Premium Calculator

Here we are providing the required data for calculating the premium rates in LIC Jeevan Shikhar  Policy using LIC Jeevan Shikhar 837 premium and maturity calculator. To calculate Premium Online, the Insured have to enter the following details mentioned below.
  • Name.
  • Email Id.
  • Mobile.
  • Age.
  • Term.
  • Sum Assured.
After entering all the above details, you can easily calculate the premium for LIC Jeevan Shikhar Plan 837.

Jeevan Shikhar Plan Lic Maturity Calculator

Lic Jeevan Shikhar 837 Plan Maturity Calculator helps you to calculate the maturity value or maturity amount. Maturity amount is the amount that is payable to the policyholder during the maturity time. You can calculate the Maturity benefits using LIC Jeevan Shikhar Plan Maturity calculator. Maturity value is calculated based on the Sum Assured plus Loyalty benefits. Jeevan Shikhar LIC Plan Maturity Calculator provides maturity amount based on Policy term, Age of the LIC Policyholder, Sum Assured, Policy name, etc. You need to provide these details along with Mobile number, Name, Email ID to calculate the maturity value. But you will receive approximate or nearby maturity amount in this LIC Jeevan Shikhar Plan Maturity Calculator.

Additional Information of LIC Jeevan Shikhar 837 Plan

Loan facility

Loan facility is available under this plan, after payment of premiums for at least 3 full years subject to the policy conditions.

Surrender Value

LIC Jeevan Shikhar 837 policy can be surrendered at any time during the policy term. The surrender options are given below.
  • Guaranteed surrender value.
  • Special surrender value.

Date of Vesting

It is applicable only if the age of the Assured is below 18 years on the date of commencement of the policy.

Free Look Period

If the Insured is not satisfied with the terms and conditions in the policy, he will be provided with a free look period of 15 days. The Policyholder have to state the reasons and should submit the policy to the Life Insurance Corporation of India with the given free look period.

Suicide clause

If the life assured commits suicide before 12 months from the date of commencement of risk, he/she would be returned with 90% of premiums paid excluding any taxes and extra premium, if any.

Taxes

Taxes, if any, shall be as per the Tax laws and the rate of tax as applicable from time to time.
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LIC Jeevan Labh Plan No 836 Review

LIC Jeevan Labh Plan 836 is a new Endowment Plan introduced by Life Insurance Corporation of India on 1st January 2016. This Jeevan Labh Plan will start working from 4th January 2016. A Unique Identification Number is given for LIC’s Jeevan Labh Plan that is 512N304V01. The policyholder has to quote the UIN no. in all relevant documents that are required to buy the policy. LIC Jeevan Labh 836 plan is a Limited Premium Paying, Non-Linked, with Profit Endowment Assurance plan. The benefits payable to the Insured are sum assured plus vested Simple Reversionary Bonuses and Final Additional bonus.
LIC Endowment plan is a non-linked participating Insurance Plan. Lic New Jeevan Labh Plan provides Optional Benefit, Accidental Death and Disability Benefit Rider by payment of additional premium. LIC Jeevan Labh Plan 836 also takes care of Liquidity needs through its loan facility. This plan offers a combination of protection and saving features. You can use LIC Jeevan Labh Plan 836 Calculator to calculate Premiums and Benefits. We provide Lic Jeevan Labh Plan Maturity Calculator and Premium Calculator to calculate Maturity benefits and Death benefits. Refer Lic Jeevan Labh plan 836 premium chart and Lic Jeevan Labh Premium calculator before buying this plan.

Lic Jeevan Labh Plan 836 Eligibility Conditions

Eligibility Conditions for basic plan are,
Entry Age:
  • Minimum: 8 years (completed).
  • Maximum:
    • 59 years (nearest birthday) for Policy Term 16 years.
    • 54 years (NBD) for Policy Term 21 years.
    • 50 years (NBD) for Policy Term 25 years.
Maximum Maturity Age:
  • 75 years (nearest birthday).
Policy term:
  • 16 years.
  • 21 years.
  • 25 years.
Premium Paying Term:
  • 10 years.
  • 15 years.
  • 16years.
Premium Payment Mode:
  • Yearly, Half-yearly, Quarterly or Monthly mode (through ECS only or through salary deductions).
Sum Assured:
  • Minimum: Rs.2,00,000/-.
  • Maximum: No limit.
  • Sum Assured shall be in multiples of Rs. 10,000/-.
Documents required for a new policy:
  • Application form/Proposal form along with a photo.
  • Address proof.
  • Age proof.
  • Medical reports (if required).

Lic Jeevan Labh Endowment Plan 836 Benefits

Maturity Benefits:

On survival of the Life Assured to the end of policy term,
Maturity benefit (Benefits payable on maturity) = Basic Sum Assured + vested Simple Reversionary Bonuses + Final Additional Bonus, if any.

Death Benefits:

On death of the Life Assured during the policy term,
Death benefit (Benefits payable on death) = ‘Sum Assured on Death’ + vested Simple Reversionary Bonuses + Final Additional Bonus, if any.
  • ‘Sum Assured on Death’ is higher of basic sum assured or 10 times of annualized premium.
  • Death benefit shall not be less than 105% of total premiums paid as on date of death.
  • The premiums mentioned above exclude taxes, extra charges, and Rider Premiums, if any.

Lic Jeevan Labh Policy Rebates

There are two rebates for the basic Lic Jeevan Labh Plan, they are
  1. Mode Rebate
  2. Sum Assured Rebate

Mode Rebate:

Mode
Percentage
Yearly mode 2% of tabular premium
Half-yearly mode 1% of tabular premium
Quarterly and monthly mode NIL.

High Basic Sum Assured Rebate:

Basic Sum assured
Rebate as per Rs.1000 B.S.A 
Rs. 2,00,000/- to Rs. 4,90,000/- NIL.
Rs. 5,00,000/- to Rs. 9,90,000/- 1.25 % Basic Sum Assured.
Rs. 10,00,000/- to Rs. 14,90,000/- 1.50 % Basic Sum Assured.
Rs. 15,00,000/- and above 1.75 % Basic Sum Assured.

Jeevan Labh LIC Policy Buying Procedure

These are the Required documents to buy LIC Jeevan Labh Policy.
  • Application form/ Proposal form No. 300, 340 and 360 along with a photo.
  • Address proof.
  • Age proof.
  • Medical reports(if required).

Claim Procedure of LIC New Jeevan Labh Plan

The documents required for claim procedure under Lic Jeevan Labh 836 Policy are given below.
  • Original Policy Document
  • NEFT Mandate Form.
  • Proof of Title.
  • Death Certificate.
  • Accident/ Disability Proof (as mentioned in the rider circular).
  • School/ College/ employer’s certificate.
  • If age is not admitted under the policy, the proof of age of the Life Assured shall also be submitted.

LIC Jeevan Labh Plan 836 Premium Calculator

Here we are providing the required data for calculating the premium rates in LIC Jeevan Labh Policy using LIC Jeevan Labh 836 premium and maturity calculator. To calculate Premium Online, the Insured have to enter the following details mentioned below.
  • Name.
  • Email Id.
  • Mobile.
  • Age.
  • Term.
  • Sum Assured.
After entering all the above details, you can easily calculate the premium for LIC Jeevan Labh Plan 836.

Jeevan Labh LIC Plan Maturity Calculator

Lic Jeevan Labh 836 Plan Maturity Calculator helps you to calculate the maturity value or maturity amount. Maturity amount is the amount that is payable to the policyholder during the maturity time. You can calculate the Maturity benefits using LIC Jeevan Labh Plan Maturity calculator. Maturity amount is calculated based on previous year Bonus Rates. Jeevan Labh LIC Plan Maturity Calculator provides maturity amount based on Policy term, Age of the LIC Policyholder, Sum Assured, Policy name, etc. You need to provide these details along with Mobile number, Name, Email ID to calculate the maturity value. But you will receive approximate or nearby maturity amount in this LIC Jeevan Labh Plan Maturity Calculator.

Additional Information of LIC Jeevan Labh 836 Plan

Loan facility

Loan facility is available under this plan, after payment of premiums for at least 3 full years subject to the policy conditions.

Grace period for payment of premium

Under Lic Jeevan Labh plan 836, the grace period of one month but not less than 30 days will be allowed for payment of yearly or half-yearly or quarterly premiums and 15 days for a monthly mode.

Participation in Profit 

New Lic Jeevan Labh policy intended to participate in profits of the Corporation and entitled to receive Simple Reversionary Bonuses.

Riders

Riders are available under this LIC Jeevan Labh Plan. Availability of Accidental Death and Disability Benefit Rider and New Term Assurance Rider.
  • LIC’s Accidental Death and Disability Benefit Rider UIN (512B209V01): Lic Accidental Death and Disability Benefit Rider (AD&DB) is accessible as an optional rider.
  • LIC’s New Term Assurance Rider UIN (512B210V01): Lic New Term Assurance Rider is available at the policy on payment of additional premium.

Paid-up Value = Basic Sum assured x (No. of premiums paid/ Total no. of premiums payable)
Example:
Suppose, if you have taken the policy of 2,00,000 basic sum assured and Total no. of premiums payable is 20, and if after 5 full years premium have been paid and any subsequent premiums be not duly paid, then
Paid-up value = 2,00,000 x (5/20) = 50,000.

Surrender Value

LIC Jeevan Labh 836 policy can be surrendered at any time during the policy term, provide at least three full years premiums have been paid.

Revival

If premiums are not paid within the grace period, then the policy will lapse. A lapsed policy may be revived during the lifetime of the life assured, but within a period of 2 consecutive years from the date of first unpaid premium and before the maturity date.

Suicide clause

If the life assured commits suicide before 12 months from the date of commencement of risk, he/she would be returned with 80% of premiums paid excluding any taxes and extra premium, if any.

Taxes

Taxes, if any, shall be as per the Tax laws and the rate of tax as applicable from time to time.
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6 January 2016

1) DRIVING LICENCE FORM FILLING

2) GAZZETT FROM GOVERNMENT( FOR NAME AND CAST CHANGE ONLY )

3) HEALTH INSURANCE OF LIFE INSURANCE CORPORATION OF INDIA

4) HEALTH INSURANCE OF RELIGARE HEALTH INSURANCE

5) HEALTH INSURANCE OF STAR HEALTH INSUARANCE

6) PREMIUM POINT OF VARIOUS COMPANIES LIKE BELOW

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