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On December 19th, 2017, LIC will introduce the LIC Jeevan Shiromani Plan 847, a new money-back plan. Let's look at the LIC Jeevan Shiromani Plan 847's benefits, evaluation, and returns. It is a money-back plan with a low premium payment that is non-linked and profitable. This approach, according to LIC, is specifically intended to target HNIs (High Net Worth Individuals). You are also covered for serious illnesses under this plan. Benefits of LIC Jeevan Shiromani Plan 847 Now let us see the benefits available under LIC Jeevan Shiromani Plan 847. This plan offers a guaranteed addition. For the first 5 years, the guaranteed addition will be Rs.50 per Rs.1,000 Sum Assured. From the 6th year onward to till POLICY PREMIUM PAYING TERM, this plan offers the guaranteed addition of Rs.55 per Rs.1,000 Sum Assured. 1. Death Benefits of LIC Jeevan Shiromani Plan 847 Under this plan, there are two requirements that must be met in order to pay the death benefits. a) Death d...

A contract that covers any risk save the danger of death is known as general insurance, also referred to as non-life insurance or property and casualty insurance. The purpose of insurance is to protect ourselves and our possessions, such as our home, automobile, and other assets, from hazards like fire, theft, flood, storm, accident, and earthquake. These are indemnity contracts, in which the insurer guarantees to compensate the insured for any losses. Therefore, the insurance company will compensate the insured for their loss regardless of the policy's coverage amount. Since they are typically one year in length, they must be renewed annually. General insurance comes in the following forms: There are three types of life insurance, discussed: • Whole life assurance: With whole life assurance, the policy's pay out only goes to the nominee or the insured's legitimate heir after the latter passes away. • Term life insurance: In this type of insurance, the policy amount...

LIC provides a wide range of life insurance plans intended to generate improved returns. The following LIC schemes have the full benefits for you-Jeevan Akshay VI, New Children's Money Back Plan, New Endowment Program, New Money Back Plan- 20 years. These days, consumers are looking into policies promising better returns on the premiums charged. LIC offers a detailed list of policies designed to offer optimal benefits alongside defense. The four best insurance policies given below are: Jeevan Akshay VI, LIC: LIC Jeevan Akshay VI is an instant annuity product that guarantees a steady cash flow up front for a lump sum payment. The annuity as set out in the contract should be paid over the policyholder 's lifetime. It comes with several options about program form and payment modes. The annuity options available under Jeevan Akshay VI are as follows: Annuity payable at a fixed rate over the insured 's life. Any annuity payable for a term of 5, 10, 15 and 20 year...

LIC Jeevan Lakshya is a limited premium paid traditional program that is unlinked and graded as an endowment with-profits scheme. The plan became effective in March 2015. This program offers an annual income that can be helpful for the family's needs, particularly for children, in the event of the policyholder 's death before the plan's maturity. By the completion of the maturity period, a lump sum balance is always made available irrespective of the policyholder 's survival. LIC Jeevan Lakshya Key Features & Highlights The salient features of the Jeevan Lakshya plan can be mentioned as follows- Guaranteed Sum Minimum: Rs.1,00,000 Full-No Deadline Multiples- The basic assured sum can only be Rs 10,000 in multiples Benefits of LIC Jeevan Lakshya This policy, if availed, offers the following benefits - Maturity Benefit - The Maturity Benefit will include the Sum Assured on Maturity plus the vested Simple Reversion Benefits and the Final Additional Bonus...

SBI Smart Wealth Builder - SBI Life Insurance offers a unit-linked, non-participating insurance plan. Individuals can benefit from this policy in two ways: increased investment opportunities by parking money in investment funds and life insurance coverage. Based on the policy period, SBI Smart Wealth Builder gives guaranteed additions. SBI Life is one of India's most well-known life insurance companies. It is a joint venture between the State Bank of India and BNP Paribas Cardiff, a renowned global insurer. At low rates, the organization offers a wide choice of life insurance and pension solutions. Features of SBI Smart Wealth Builder The features of SBI Smart Wealth Builder plan are as under: Life insurance coverage Guaranteed increases can be up to 125 percent of one annual regular premium depending on the policy length. There are no premium allocation charges after the 11th year. From the 6th policy year onwards, you have the option to increase or decreas...

LIC Jeevan Lakshya is a limited premium paid traditional program that is unlinked and graded as an endowment with-profits scheme. The plan became effective in March 2015. This program offers an annual income that can be helpful for the family's needs, particularly for children, in the event of the policyholder 's death before the plan's maturity. By the completion of the maturity period, a lump sum balance is always made available irrespective of the policyholder 's survival. LIC Jeevan Lakshya Key Features & Highlights The salient features of the Jeevan Lakshya plan can be mentioned as follows- Guaranteed Sum Minimum: Rs.1,00,000 Full-No Deadline Multiples- The basic assured sum can only be Rs 10,000 in multiples Benefits of LIC Jeevan Lakshya This policy, if availed, offers the following benefits - Maturity Benefit - The Maturity Benefit will include the Sum Assured on Maturity plus the vested Simple Reversion Benefits and the Final Additional ...

LIC's JEEVAN TARUN is a participating, unlinked, restricted premium payment plan that offers an attractive combination of protection and saving features for children. This plan is specifically designed to meet growing children's educational and other needs through annual Survival Benefit payments from ages 20 to 24 years and Maturity Benefit at age 25. It is a flexible plan in which the proposer can select the proportion of Survival Benefits to be used during the policy period as per the following four options at the proposal stage: Option Survival benefits Maturity benefits Option 1 No survival benefit 100% of Sum Assured Option 2 5% of Sum Assured every year for 5 years 75% of Sum Assured Option 3 10% of Sum Assured every year for 5 years 50% of Sum Assured Option 4 15% of Sum Assured every year for 5 years 25% of Sum Assured Benefits available under an in-force po...

Life insurance companies have meticulous procedures in place to guarantee timely and smooth payment of the multiple advantages. However, did you think what happens when the policyholder does not claim an advantage when it is due? Or a situation in which the insurance company is not in a position to pay the advantages as the policyholder is reachable / untraceable, or rather a case in which the insurance company has not been notified of the life insured’s death. These may look like isolated incidents; however, you would be surprised to know that Rs 15,166.47 crore was unclaimed with 23 life insurers as of March 31, 2018, according to official data. Of this, Rs 10,509 crore was with India’s Life Insurance Corporation (LIC), and Rs 4,657.45 crore was with private insurance firms. Compared to this, the unclaimed quantity for the whole sector was Rs 4,865.81 crore for the year 2012-13. This is an annual 25 percent rise in unclaimed money from policyholders over the previous five years...