A policy to take care of your better half – Jeevan Saathi
Beat the uncertain future with LICs Jeevan Tarang
Bima Bachat
LIC Jeevan Saral
Jeevan Anand – A blend of happiness and security
Showing posts with label Jeevan Tarang. Show all posts
Showing posts with label Jeevan Tarang. Show all posts
Retirement Solution Through LIC's JEEVAN TARANG Plan 178
Ready recknor for all modes and for age 0 to 40 years depending on monthly/yearly. Pension desired by loyalty addition.
JEEVAN TARANG is a with-profits whole life plan which provides for annual survival benefit at a rate of 5 % 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.
Benefits of Jeevan Tarang plan 178
Survival Benefits: On survival to the end of the selected accumulation period: Vested reversionary bonuses in a lump sum will be payable. On survival to the end of each year after the accumulation period: 5«% of the Sum Assured will be payable. The first survival benefit will be payable on survival to one year after the end of the accumulation period.
Maturity Benefit: On survival to the policy anniversary coinciding with or immediately following the completion of age 100 years, the Sum Assured along with Loyalty Addition, if any, will be payable.
Death Benefit: In case of death of the Life Assured during the Accumulation Period, the Sum Assured along with vested reversionary bonuses is payable.
In case of death of the Life Assured any time after the Accumulation Period, the Sum Assured along with Loyalty Addition, if any is payable.
Retirement Solution Through LIC’s JEEVAN TARANG PlAN
Yly Pension (5.5 % of SA) Rs. | SA required Rs. | 20 yrs | 15 yrs | 10 yrs | 20 yrs | 15 yrs | 10 yrs |
Single Prem. Rs. | Single Prem. Rs. | Single Prem. Rs. | BONUS @ Rs 50 | BONUS @ Rs 50 | BONUS @ Rs 50 | ||
12000 | 220000 | 118910 | 140030 | 164670 | 220000 | 165000 | 110000 |
24000 | 440000 | 237820 | 280060 | 329340 | 440000 | 330000 | 220000 |
36000 | 655000 | 350753 | 413633 | 486993 | 655000 | 491250 | 327500 |
48000 | 875000 | 468563 | 552563 | 650563 | 875000 | 656250 | 437500 |
60000 | 1095000 | 586373 | 691493 | 814133 | 1095000 | 821250 | 547500 |
72000 | 1310000 | 701505 | 827265 | 973985 | 1310000 | 982500 | 655000 |
84000 | 1530000 | 819315 | 966195 | 1137555 | 1530000 | 1147500 | 765000 |
96000 | 1750000 | 937125 | 1105125 | 1301125 | 1750000 | 1312500 | 875000 |
108000 | 1965000 | 1052258 | 1240898 | 1460978 | 1965000 | 1473750 | 982500 |
120000 | 2185000 | 1170068 | 1379828 | 1624548 | 2185000 | 1638750 | 1092500 |
200000 | 3640000 | 1949220 | 2298660 | 2706340 | 3640000 | 2730000 | 1820000 |
300000 | 5455000 | 2921153 | 3444833 | 4055793 | 5455000 | 4091250 | 2727500 |
400000 | 7272000 | 3894156 | 4592268 | 5406732 | 7272000 | 5454000 | 3636000 |
500000 | 9090000 | 4867695 | 5740335 | 6758415 | 9090000 | 6817500 | 4545000 |
550000 | 10000000 | 5355000 | 6315000 | 7435000 | 10000000 | 7500000 | 5000000 |
1010000 | 18180000 | 9735390 | 11480670 | 13516830 | 18180000 | 13635000 | 9090000 |
1200000 | 21820000 | 11684610 | 13779330 | 16223170 | 21820000 | 16365000 | 10910000 |
2400000 | 43635000 | 23366543 | 27555503 | 32442623 | 43635000 | 32726250 | 21817500 |
Download Ready recknor of Jeevan Tarang Reckoner for all modes and for age 0 to 40 years
JEEVAN TARANG With profits Table No 178
JEEVAN TARANG LIFE INSURANCE POLICY BY LIC With profits (Table No 178)
Features of plan: jeevan tarang plan (plan No.178) is introduced w. e. f 17th march 2006. the plan is a whole life plan, which provides annual survival benefit at a rate of 5.5 % Of the sum assured for life time after the chosen accumulation period
Accumulation period:
The plan offer three accumulation periods - 10, 15 and 20 years. A proposer may choose.
Plan parameters
Age at entry: min.0 yrs. (LBD) max 60 yrs. (NBD)
Premium payment
Ceasing age: 70 yr. (NBD)
Age up which
Life cover available: 100 yrs. (completed)
Min. age at the and Of accumulation period: 18 yrs. (completed)
Sum assured: min. 1 Lac max. no. limit
Premium In multiples: Rs.5000
Accumulation period: 10,15,20, yrs
Mode of payment: YLY/ HLY/ QLY/ SSS/ MLY/ SP
Accident benefit: Re. 1 extra per (max. 50Lacs inclusive 1000 S.A. all plan)
Policy loan: yes
Housing loan: yes
Assignment: yes
Revival: yes
Surrender of policy: yes
Term rider: yes
CIR: yes
Underwriting condition
Form no: 300/340/360
Age proof: std./ NSAP- 1.2.3
Female lives category: I/II/III
Non-medical (gen): allowed
Non-medical (prof): allowed
Non-medical (special): allowed
Actual sum assured: basic SA
Dating back: allowed @ 9% p.a
BENEFITS:
Survival benefit
Accident benefit rider option (allowed for regular premium policies only):
Accident benefit option will be available under the plan by the payment of conditional premium. Accident benefit rider shall be available for an amount not exceeding the sum assured under the basic plan subject to an overall limit of Rs.50Lakh taking all existing policies of the life assured under individual as will as group schemes including those with in- built accident benefit taken with the corporation and other insurance companies and the accident benefit rider sum assured the new proposal into consideration. This benefit is available under regular premium policies only and it is available under premium policies.
Term assurance rider option: term assurance as optional rider will be available under this plan during the accumulation period. The premium for this option are payable during the premium paying term and an amount equal to term assurance sum assured will be payable on death during the accumulation period. The maximum cover for rider will be Rs.25Lakh under all policies of the life assured with the corporation taken together. The terms and condition applicable to this rider will be as mentioned in circular Ref: Actl/1909/4 dated 24th October 2003.
Critical illness rider option: an amount equal to critical illness rider sum assured will be payable in case of diagnosis of defined categories of critical illness during the accumulation period subject to certain term and conditions. The maximum cover for this rider will be Rs.5Lakh under all policy all policy of the life assured with the corporation taken together. The term and conditions applicable to this rider will be as mentioned in circular Ref: Actl/1906/4 dated 8th October 2003 and Actl/2034/4 dated 13th September 2005.
Premium waiver benefit option under critical illness rider: this is an optional Benefit under regular premium policy which may be opted in case of the following.
Paid-up & surrender vales (GSV SSV): In case of regular premium policies, if after at lest there full year's premium have been paid and any subsequent premium be not duly paid, this policy shall not be wholly void, but the sum assured by it shall be reduced to such a sum, called paid-up sum assured, as shall bear to the total number of premiums originally stipulated in the policy. The policy so reduced shall thereafter before from all liabilities for payment of the within mentioned premium, but shall not be entitled to the future bonuses. The existing vested reversionary bonuses, if any, shall remain attached to the reduced paid-up policy.
In the event of death of life assured during the accumulation period, the reduced paid-up sum assured as defined above, along with vested reversionary bonus, if any, shall be payable. No survival benefit will be payable for a reduced paid-up policy. Provided the life assured is then alive, the vested bonuses and the reduced paid-up sum assured as defined above shall be payable at the end of the accumulation period.
Features of plan: jeevan tarang plan (plan No.178) is introduced w. e. f 17th march 2006. the plan is a whole life plan, which provides annual survival benefit at a rate of 5.5 % Of the sum assured for life time after the chosen accumulation period
Accumulation period:
The plan offer three accumulation periods - 10, 15 and 20 years. A proposer may choose.
Plan parameters
Age at entry: min.0 yrs. (LBD) max 60 yrs. (NBD)
Premium payment
Ceasing age: 70 yr. (NBD)
Age up which
Life cover available: 100 yrs. (completed)
Min. age at the and Of accumulation period: 18 yrs. (completed)
Sum assured: min. 1 Lac max. no. limit
Premium In multiples: Rs.5000
Accumulation period: 10,15,20, yrs
Mode of payment: YLY/ HLY/ QLY/ SSS/ MLY/ SP
Accident benefit: Re. 1 extra per (max. 50Lacs inclusive 1000 S.A. all plan)
Policy loan: yes
Housing loan: yes
Assignment: yes
Revival: yes
Surrender of policy: yes
Term rider: yes
CIR: yes
Underwriting condition
Form no: 300/340/360
Age proof: std./ NSAP- 1.2.3
Female lives category: I/II/III
Non-medical (gen): allowed
Non-medical (prof): allowed
Non-medical (special): allowed
Actual sum assured: basic SA
Dating back: allowed @ 9% p.a
BENEFITS:
Survival benefit
- The vested simple reversionary bonuses will be payable in one lump sum on survival to the end of the selected accumulation period.
- 5 ½ % of the sum assured will be payable on survival to the and each year after the accumulation period. The first survival benefit will be payable on survival to one year after the accumulation period is over.
- The sum assured, along with vested reversionary bonus is payable in case of death of the life assured during the accumulation period.
- In case of death before commencement of risk when the life assured is aged less then or equal to 12 years, the premiums paid will be returned without any interest. 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.
- The sum assured along whichever along with loyalty addition, if any payable in case of death of the life assured any time after the accumulation period.
Accident benefit rider option (allowed for regular premium policies only):
Accident benefit option will be available under the plan by the payment of conditional premium. Accident benefit rider shall be available for an amount not exceeding the sum assured under the basic plan subject to an overall limit of Rs.50Lakh taking all existing policies of the life assured under individual as will as group schemes including those with in- built accident benefit taken with the corporation and other insurance companies and the accident benefit rider sum assured the new proposal into consideration. This benefit is available under regular premium policies only and it is available under premium policies.
Term assurance rider option: term assurance as optional rider will be available under this plan during the accumulation period. The premium for this option are payable during the premium paying term and an amount equal to term assurance sum assured will be payable on death during the accumulation period. The maximum cover for rider will be Rs.25Lakh under all policies of the life assured with the corporation taken together. The terms and condition applicable to this rider will be as mentioned in circular Ref: Actl/1909/4 dated 24th October 2003.
Critical illness rider option: an amount equal to critical illness rider sum assured will be payable in case of diagnosis of defined categories of critical illness during the accumulation period subject to certain term and conditions. The maximum cover for this rider will be Rs.5Lakh under all policy all policy of the life assured with the corporation taken together. The term and conditions applicable to this rider will be as mentioned in circular Ref: Actl/1906/4 dated 8th October 2003 and Actl/2034/4 dated 13th September 2005.
Premium waiver benefit option under critical illness rider: this is an optional Benefit under regular premium policy which may be opted in case of the following.
- The critical illness under has been opted for, and
- The sum assured under the basic plan is equal to the critical Illness rider sum assured
- The chosen accumulation period is such that the premium payment ceases on or before the policy anniversary at which the life assured completes 60 years (nearest birthday) of age in case the life assured is diagnosed with any of the critical illnesses covered under the policy, the life total future premium (i. e. premium for sum assured under the basic plan and the premium policy is in full force. All there optional rider benefit mentioned above shall be available during accumulation period only.
Paid-up & surrender vales (GSV SSV): In case of regular premium policies, if after at lest there full year's premium have been paid and any subsequent premium be not duly paid, this policy shall not be wholly void, but the sum assured by it shall be reduced to such a sum, called paid-up sum assured, as shall bear to the total number of premiums originally stipulated in the policy. The policy so reduced shall thereafter before from all liabilities for payment of the within mentioned premium, but shall not be entitled to the future bonuses. The existing vested reversionary bonuses, if any, shall remain attached to the reduced paid-up policy.
In the event of death of life assured during the accumulation period, the reduced paid-up sum assured as defined above, along with vested reversionary bonus, if any, shall be payable. No survival benefit will be payable for a reduced paid-up policy. Provided the life assured is then alive, the vested bonuses and the reduced paid-up sum assured as defined above shall be payable at the end of the accumulation period.
Jeevan Tarang Table No. 178
Benefits:
- Life long money back @ 5.5% of SA is payable every year on survival after
- accumulation period which is as good as yearly pension without tax liability.
- Full risk cover.
- All riders allowed (Critical, Accident & Term Assurance Rider) during accumulation period.
- Vested Bonus will be paid in one Lumpsum at the end of accumulation
- period on survival till the end of accumulation period.
- Loan facility available (*in addition to periodic money back).
- SA+LA payable at age 100 or death (after accumulation period).
- Attractive rebates for S.A. & Hly. /Yly. modes.
- (12.50% for SA .5, lakhs 86 above in Single Premium)
- Ideal investment for all-entrepreneurs, businessmen, professionals etc-
- for their children to cater to their educational & all future needs.
- Exemptions under Sec 80C & Section 10 (10D) of Income Tax Act.