Life is a beautiful gift by god, but everyone has to face the unfortunate demise someday. Because of an unforeseen accidents and tragic moments in life, it becomes very necessary to invest in the life insurance policies.
When you enroll in a lic life insurance plan, you actually gift your loved ones with the lifetime after survival benefits. This is the policy which will secure your family members or an individual nominee after you are no longer with them.
Lic policies focus majorly upon the life insurance and survival benefit plan so that the policy holder can gain advantages of the premium invested while he or she is alive. However, there are three categories of the lic plans which you will find at the online web portal-
Money back plans
Endowment plans
Term assurance plans
The current 2014 to 2015 new plans are lucrative and very significant for the service class income group. The current popular policies are listed below-
New Jeevan Anand plan- This is a non-linked plan that is offering a fabulous combination of the savings as well as protection. The amalgamation provides financial fortification against demise i.e. death throughout the survival period of the insured person. There is a provision given to the insured person of the payment of lumsum after the end of the term period in case he or she survives till then. It also offers loan facility and takes care of the liquidity issues of the policy holder.
What are the benefits?
Death benefit
When all the premium installments are paid on time, then there are certain death benefits paid by the lic life insurance agent through the company authorization.
The death benefit is not paid less than the 105% calculating upon the premium paid in total. As on the date of death is considered for the end of policy sum assured. Final additional bonuses are also added to the sum assured.
The premiums paid by the policy holder do not include service tax, rider premiums or extra premium cost if invested.
Benefits that are paid at the end of the policy term are- basic sum assured plus reversionary bonuses and the final additional bonuses. They all are paid as lump sum amount if the policy holder survives till the end of the policy term. But it is necessary that all the premium installments are duly paid.
LIC jeevan rakshak is a very attractive policy which is a non-linked plan and offers an arrangement of protection and the saving plans together. This is one of the most wanted and popular lic plans that support family financially in case the insured person face death before the maturity of the term. Liquidity services considering loan facility is also provided in this plan.
Death benefits are given to the policyholder when all the premium installments are paid on time. The sum which was assured to be paid on death is payable and basic sum assured amount is also payable according to the date of death. There is one plus point in this type of lic life insurance policy and i.e. an additional loyalty amount is payable if the death of the insured person occurs after the completion of the term period.
Hence, at the online sources lic policies are reviewed as the best and most lucrative one because they also serve with tax redemptions under the income tax act 1961, section 80C. If you are looking for the suitable policy under the LIC brand, then you can visit their official website today. Enroll easily in just few easy steps without leaving the comfort zone. Enroll by using your aadhar card or the ID proof scanned copy and get registered for free of cost.