Month: June 2016

  Reversionary Bonus is declared per thousand of the Sum Assured Amount in each financial year by LIC. It will be be paid at the end of maturity period or on the death of the policyholder, whichever is earlier. Reversionary Bonus Rates declared as a result of valuation as at 31st March 2015   Reversionary Bonus Rates declared as a result of valuation as at 31st March 2015 Sl No. Plan Term* Bonus Rates (Per `       1000/- Sum Assured)**       2015 1 Whole Life Type Plans (2,5,6,8,10,28 – before conversion,35,36,37,38,49,77,78,85 & 86)   70 2 Endowment Type Plans (14,17,27 – after conversion, 28 -after conversion,34,39,40,41,42,50,54,79,80,81,84,8 7,90,91,92,95,101,102,103,109,110 & 121) < 11 34     11 to 15 38     16 to 20 42     > 20 48 3 N...

LIC has launched "Jeevan Pragati Policy" (Table Plan No. 838) in Feb 2016.   Unique Identification number of Jeevan Pragati Plan is 512N306V01. This policy is with profit endowment (savings-cum-protection) policy non-linked (not linked to stock market) This is the third policy launched by LIC in 2016 after LIC Jeevan Labh and Jeevan Shikhar In this policy, the risk cover keeps on increasing every 5 year. This is an important feature as it provides adequate risk cover against inflation as the years passes.  You can also add accidental benefit rider. Key Features Increasing Life Cover every 5 years (25% risk cover increased every 5 years) Option to add accidental rider Premium paid is eligible for deduction under 80(C) Maturity amount will be tax free under 10(10D) Optional Ri...