LIC 2014-15 New Plans List: Features, Review & Benefits of all the Plans
LIC of India is the largest life insurance company with 2000 branches and 14th lakh agents in the country. LIC provides wide range of life insurance plans & policies like investment policies, health plans, pension policies, term insurance policies.
Life is a beautiful gift by god, but everyone has to face the unfortunate demise someday. Because of an unforeseen accidents and tragic moments in life, it becomes very necessary to invest in the life insurance policies.
When you enroll in a lic life insurance plan, you actually gift your loved ones with the lifetime after survival benefits. This is the policy which will secure your family members or an individual nominee after you are no longer with them.
Lic policies focus majorly upon the life insurance and survival benefit plan so that the policy holder can gain advantages of the premium invested while he or she is alive. However, there are three categories of the lic plans which you will find at the online web portal-
The current 2014 to 2015 new plans are lucrative and very significant for the service class income group. The current popular policies are listed below-
What are the benefits?
When all the premium installments are paid on time, then there are certain death benefits paid by the lic life insurance agent through the company authorization.
The death benefit is not paid less than the 105% calculating upon the premium paid in total. As on the date of death is considered for the end of policy sum assured. Final additional bonuses are also added to the sum assured.
The premiums paid by the policy holder do not include service tax, rider premiums or extra premium cost if invested.
Benefits that are paid at the end of the policy term are- basic sum assured plus reversionary bonuses and the final additional bonuses. They all are paid as lump sum amount if the policy holder survives till the end of the policy term. But it is necessary that all the premium installments are duly paid.
Death benefits are given to the policyholder when all the premium installments are paid on time. The sum which was assured to be paid on death is payable and basic sum assured amount is also payable according to the date of death. There is one plus point in this type of lic life insurance policy and i.e. an additional loyalty amount is payable if the death of the insured person occurs after the completion of the term period.
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This is Yash sharma Sr. creative writer. I have written several articles on finance, insurance & loans & I like very much to write insurance articles.