TOP 5 LIC POLICIES
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1. LIC Jeevan Akshay VIIt is a Single Premium Immediate Annuity Plan which can be purchased by paying a lump sum
amount. It is a non unit-linked pension plan. This plan provides for annuity payment of a fixed amount extending for a life time.
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2. LIC e-Term Plan
amount. It is a non unit-linked pension plan. This plan provides for annuity payment of a fixed amount extending for a life time.
LIC Policy Type
|
Single
Premium Immediate Annuity Plan
|
Entry Age
|
Minimum
Age – 30 Years (Completed)
Maximum
Age – 85 Years (Completed)
|
Minimum Purchase Price
|
Minimum – Rs.1 lakh (All distribution
Channels Except for Online) Maximum
– Rs. 1.5 Lakhs (Online)
|
Maximum Purchase Price
|
No
Limit
|
Modes of Annuity Payment
|
Monthly,
Quarterly, Half-Yearly, Yearly
|
Tax Benefit
|
Premium
paid is tax exempt under Section 80C
Pensions
received is taxable
|
Loan Facility
|
Not
Available
|
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2. LIC e-Term Plan
LIC Policy Type
|
Pure
Term Plan
|
Sum Assured
|
Minimum
– Rs. 25,00,000
Maximum
– No Limit
|
Entry Age
|
Minimum
Age – 18 Years
Maximum
Age – 60 Years
|
Age at Policy Maturity
|
Minimum
– N/A
Maximum
– 75 years
|
Policy Term
|
Minimum
– 10 years
Maximum
– 35 years
|
Modes of Premium Payment
|
Yearly
|
Tax Benefit
|
Premium
paid up to Rs. 1,00,000 is tax exempt under Section 80C
|
Policy Revival
|
Allowed,
within 2 years from the due date of first unpaid premium payment
|
Grace Period
|
30
Days from premium due date
|
Riders
|
Not
Available
|
Loan Facility
|
Not
Available
|
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3. LIC New Children’s Money Back Plan
LIC Policy Type
|
Participating
Non-linked Money Back Plan
|
Sum Assured
|
Minimum
– 1,00,000
Maximum
– No Limit
|
Entry Age
|
Minimum
Age – 0 Years (last birthday)
Maximum
Age – 12 Years (last birthday)
|
Age at Policy Maturity
|
25
years
|
Policy Term
|
25
years
|
Modes of Premium Payment
|
Yearly,
Half-yearly, Quarterly or Monthly (ECS only) or through SSS mode
|
Tax Benefit
|
under
section 80C, under section 10(10D) (Death Benefit ), under section 10(10D)
(Maturity Benefit)
|
Policy Revival
|
Allowed
within a period of 2 consecutive years from the date of first unpaid premium
but before the end of policy term on payment of all the arrears of premium
together with interest (compounding half-yearly) at such rate as fixed by the
insurer.
|
Grace Period
|
30
days for all modes
15
days for monthly
|
Riders
|
Premium
Waiver Benefit Rider
|
Loan Facility
|
Available
|
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4. LIC Jeevan Anand Plan
LIC Policy Type
|
Endowment
cum Whole Life Policy
|
Sum Assured
|
Minimum
– 1,00,000
Maximum
– No Limit
|
Entry Age
|
Minimum
Age – 18 Years
Maximum
Age – 65 Years
|
Age at Policy Maturity
|
75
years
|
Policy Term
|
Minimum–
5 Years
Maximum–
57 Years
|
Modes of Premium Payment
|
Yearly,
Half-yearly, Quarterly or Monthly, SSS mode
|
Tax Benefit
|
Premium
exempt under section 80C, Maturity proceeds under section 10(10D)
|
Policy Revival
|
Allowed
within a period of 2 years
|
Grace Period
|
30
days for all modes
15
days for monthly
|
Riders
|
Premium
Waiver Benefit Rider
|
Loan Facility
|
Available
after 3 years
|
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5. LIC Jeevan Saral
LIC Policy Type
|
Endowment
Assurance plan
|
Sum Assured
|
250
times Monthly Premium
|
Entry Age
|
Minimum
Age – 12 Years
Maximum
Age – 60 Years
|
Age at Policy Maturity
|
70
years
|
Policy Term
|
Minimum
Age – 10 Years
Maximum
Age – 35 Years
|
Modes of Premium Payment
|
yearly,
half-yearly, quarterly, or monthly through salary deductions
|
Tax Benefit
|
Premium
exempt under section 80C, Maturity proceeds under section 10(10D)
|
Policy Revival
|
Allowed
within the five consecutive years from the date of first unpaid premium
|
Grace Period
|
30
days for all modes
15
days for monthly
|
Riders
|
Term
Rider, Accidental Death & Disability Rider
|
Loan Facility
|
Available
|
