LIC Launched New Plan For Your Child "Jeevan Ankur"
Plan No. 807 or Table No. 807
Jeevan Ankur is a LIC new policy for your child.
This Plan is for Taking Care of your Child's all requirement.
Jeevan Ankur New LIC Policy for you Child
Late fee for delayed payment of LIC Premium Fine
How delayed payment interest is calculated?
LIC considers the delay of
1 month 14 days as one month.
1 month 15 days to 2 months 14 days as 2 months and like that.
A delay of just 15 days will also be considered as a delay of one month.
And the fine will be charged at the rate of 8%.
For example: A person has to pay a premium of Rs. 2000/- he makes a delay of more than 2 months 14 days in paying the premium then the delay will be considered as a 3 months delay. The late fee rate for Rs. 1% premium for 3 months at the rate of 8% is 0.01999
Therefore the late fee he has to pay is 2000 x 0.01999 = Rs. 39.98/-.
The total amount he has to pay is 2039.98.
LIC considers the delay of
1 month 14 days as one month.
1 month 15 days to 2 months 14 days as 2 months and like that.
A delay of just 15 days will also be considered as a delay of one month.
And the fine will be charged at the rate of 8%.
For example: A person has to pay a premium of Rs. 2000/- he makes a delay of more than 2 months 14 days in paying the premium then the delay will be considered as a 3 months delay. The late fee rate for Rs. 1% premium for 3 months at the rate of 8% is 0.01999
Therefore the late fee he has to pay is 2000 x 0.01999 = Rs. 39.98/-.
The total amount he has to pay is 2039.98.
Jeevan Sukh Combination of LIC plans
Jeevan Sukh is a combination of LIC plans specially researched to meet the objective of securing a financially independent life for yourself and your spouse on retirement.
1. Pay Premium of 86261/- for 12 Years and Get Approximately Returns of 100000/- from 12th year onwards (upto age 75)
2. Tax is not applicable on Annuity Amount
3. High Riskcover during premium paying period
4. Tax Benefit on premiums paid (under sec 80C)
5. Loan is Available after 3 years
Jeevan Sukh Combination ensure you to meet all your retirement requirements. So you can retire peacefully from work, but not from life.
Benefits During Premium Paying Period:
The Premium Paying period is the productive period of your life. During this period you have to make provision for your retirement by paying annual premium of 86261/-. There is high riskcover in this period ranging from 1512115/-(Age: 30) to 2195380/-(Age: 41). Loan facility is also available depending upon number of premiums paid. Premiums paid are available for exemption under section 80C upto 100000/- per annum. This presentation give an effective yield of 8.63%
(*) Jeevan Sukh is a combination of LIC plans specially researched to meet the objective of securing a financially independent life for yourself and your spouse on retirement.
(*) The benefits shown in this presentation have been calculated on the basis of reversionary bonuses declared by LIC for the last year ended. Actual results may deviate depending on the future bonuses declared by LIC.
(*) Loan calculation is done on the basis of present surrender value rates.
(Click on Image to ZOOM)
In Retirement period your physical strength will be low but as you made provision you need not to work and need not to pay premium. In this period you will start getting tax free pension. You will get pension from age 42 to age 75. The pension amount for every year is shown in following table. If required loan can be taken against insurance policy anytime in deferment and retirement period. Loan facility starts after payment of 3 years premium. This presentation give an effective yield of 8.63%
(Click on Image to ZOOM)
(*) Jeevan Sukh is a combination of LIC plans specially researched to meet the objective of securing a financially independent life for yourself and your spouse on retirement.
(*) The benefits shown in this presentation have been calculated on the basis of reversionary bonuses declared by LIC for the last year ended. Actual results may deviate depending on the future bonuses declared by LIC.
(*) Loan calculation is done on the basis of present surrender value rates.
(*) Yearly Installment : Under settlement scheme of LIC
Jeevan Sukh Combination of LIC plans
(Click on Image to ZOOM)