Available till 31st January 2020 Only
You may getting various calls from all Private Insurance Companies for short term policy. And my experience also All investors attract to take short term policy.
But all Private Insurance Companies, personal call center always attract investor with fake policy details about plan and most of investors purchased that plan.
That is very blunder by Investors, without knowing plan they attract on fake calls and invested.
LIC Limited Premium Policy-
To get out from those all fake plans, LIC come with very good Plan LIMITED Premium. Here you have to pay only 8 yrs or 9 Yrs and option to maturity at 12, 16 or 21 yrs with very attractive returns. so LIC HAI TO KAHI AUR KYO JANA.
LIC Limited Premium Endowment Policy (Plan No:830)
LIC’s Limited premium endowment policy (Plan No: 830) is a non-linked guaranteed life insurance plan which provides protection with investment. This plan is having fixed premium paying terms of 8 & 9 years and fixed policy terms 12, 16 & 21 years which allows policy holder to plan for financial requirements by paying less number of years and secure life and receive maturity at later stage.
This plan may be recommended for everyone because of following reasons.
- A sound combination of Life insurance and investment.
- Less number of premium paying term than policy term.
- Eligible for bonus and Final Addition bonus declared by LIC.
- Comparatively High Bonus
- Double Accidental benefit with rider.
- Tax saving on premium paid.
- Tax Free maturity amount.
Plan Parameters
| Age of Entry | 18 to 62 years |
|---|---|
| Premium Paying Mode | Yearly, Half Yearly, Quarterly, Monthly (ECS Only) |
| Premium Payment Term | 8 or 9 Years (Fixed) |
| Policy Term | 12, 16 and 21 Years (Fixed) |
| Basic Sum Assured | 300000 and above ( in multiple of 10000) |
| Policy Revival | within 2 year |
| Rebate Premiums | 2% on yearly, 1% on Half Yearly, Nil on Quarterly |
| Loan | After 2 years |
| Surrender | After 2 years of full premium payment |
| Guaranteed Surrender Value | From 30% to Maximum 80% of total premium paid |
Benefit Illustrations
To Illustrate the benefits of Limited Premium Endowment Plan, Lets take
an example of a person who is purchasing this plan with following
details.
Sum Assured: Rs. 500000
Premium Paying term: 9 Years
Policy Term: 16 Years
Policy Purchase Year: 2015
Age: 28 Years
Premium: Rs. 43995(Yearly)
With above proposed policy details, following benefit chart has been generated according to bonus rate Rs. 52 per thousand of sum assured.
| Maturity Year | Maturity Age | Maturity Amount |
|---|---|---|
| 2031 | 44 | 910000 |
For each year during the term of policy, LIC declares Bonus (Per Thousand of Sum Assured) for that particular year. This policy may eligible for Final Addition bonus after certain number of years. As the policy term progresses, these benefits in the form of Bonuses keep accumulating and at the time of matuirty, policy holder gets lump sum amount i.e. Sum Assured + Bonus. In case of death during the policy term, nominee gets sum assured plus bonus accumulated up to that peroid. Year-wise and Age-wise benefits in case of death is indicated below.
| End of year | Year | Age | Premium Paid | Normal Life Cover | Accidental Life Cover |
|---|---|---|---|---|---|
| 1 | 2016 | 29 | 43950 | 522500 | 1022500 |
| 2 | 2017 | 30 | 87900 | 545000 | 1045000 |
| 3 | 2018 | 31 | 131850 | 567500 | 1067500 |
| 4 | 2019 | 32 | 175800 | 590000 | 1090000 |
| 5 | 2020 | 33 | 219750 | 612500 | 1112500 |
| 6 | 2021 | 34 | 263700 | 635000 | 1135000 |
| 7 | 2022 | 35 | 307650 | 657500 | 1157500 |
| 8 | 2023 | 36 | 351600 | 680000 | 1180000 |
| 9 | 2024 | 37 | 395550 | 702500 | 1202500 |
| 10 | 2025 | 38 | 0 | 725000 | 1225000 |
| 11 | 2026 | 39 | 0 | 747500 | 1247500 |
| 12 | 2027 | 40 | 0 | 770000 | 1270000 |
| 13 | 2028 | 41 | 0 | 792500 | 1292500 |
| 14 | 2029 | 42 | 0 | 815000 | 1315000 |
| 15 | 2030 | 43 | 0 | 877500 | 1377500 |
| 16 | 2031 | 44 | 0 | 910000 | 1410000 |
Above example illustrates that premium paying stops after 9 years and insurance receives maturity after completion of 16th year. This illustration also includes double accidental benefit which gives the nominee an extra amount equal to sum assure in case of accidental death.
More details you can contact to 9891423442 or write your comments in comment section. Also you can write to [email protected] for personalised presentation.