LIC Life Insurance Policy: My Policy
LIC (Life Insurance Corporation) has deployed your investment funds to the best advantages as well as the whole community. It’s accurate to the power of nationalization. Your investment in LIC’s funds is governed by Section 27A of the Insurance Act, 1938 subsequent guidelines/instructions by the Government of India from time to time and the IRDA by way of regulations.The Life Insurance marketplace in India is an immature advertises so as to be only tapped by the state owned LIC till the entry of private insurers. The infiltration of life insurance goods was 19 percent of the total 400 million of the insurable inhabitants. The state owned LIC sell assurance as a tax implement, not at the same time as a product giving protection.
In our day to day life, an uncertainly come there is a contribution of risk. The nature of safety beside such risk is the lone of the essential inspiring forces for determining human attitudes. In your urge to give insurance or protection against your loss of future life and property we are at Chandigarh providing a truthful service to the peoples all over India.
There will be no death benefit either for the basic sum assured or for simple reversionary bonuses since, in such case, the risk for life cover commences after 2 years from the death of taking of the policy anniversary coinciding with or immediately following the date on which life assured completes 7 years of age , whichever is later. After the commencement of risk, the normal death benefit as stated above is payable. In Jeevan Tarang Policy Plan
This is a with-profits whole of life plan which provides for annual survival benefit at a rate of 5½ % of the Sum Assured after the chosen Accumulation Period. The vested bonuses in a lump sum are payable on survival to the end of the Accumulation Period or on earlier death. Further, the Sum Assured, along with Loyalty Additions, if any, is payable on survival to age 100 years or on earlier death.
LIC’ Jeevan Saral plan brings you higher cover, smooth returns, liquidity fund and considerable flexibility. In this Jeevan Saral Plan death cover up will be equivalent irrespective of age at entry and term. The sum payable at maturity still differs for different entry ages and terms.
