New Life Insurance Plans from LIC in 2014

AS per IRDA, Some changes are required in most of the Life Insurance Plans also service tax is applicable on all plans. LIC is closing most of the popular plans in year 2013 end, Jeevan Anand, Jeevan Tarang, Bima Bachat, Jeevan Saral, Komal Jeevan, Jeevan Madhur & Jeevan Anurag among others.

Such plans are available for sale only until December 31, 2013. LIC, Jeevan-Bharti I, a money-back policy, catering specifically to the women segment will be closed from December 21, 2013.

Great possibility to decrease in the LIC premiums, based on the mortality rate. mortality rates that means based on your age lic insurance company deducts the fees.

Visit again to see the new plan  list as soon it launched.

 

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Steps to Calculate Your Life Insurance Needs

Calculate Your Life Insurance Needs

1. Know your Family Income and Expenses – Earning – Expenses
2. Know your Family’s one time needs – Child’s Wedding + Education, home Loan + Other expense
3. Know your current assets – Cash + Savings + Investments + Existing Life Insurance

Your Calculation = Total Requirements (1 +2) – Existing Assets (3) = Insurance needed.

Reasons you need to increase insurance cover

1. Your parents retire
2. You get married
3. You become parents
4. You take a big loan
5. You start a business

Circumstances when you don’t need insurance

1. You don’t have dependents
2. You have enough assets
3. Your spouse earns well
4. You have retired

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LIC Best Plan Details

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

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