There are more than 20 Life Insurance companies in India. You may find cheaper term insurance plans advertisements everywhere but always remember, you take term plans so that your family does not suffer in any way. Please check well before with the claim settlement history of the insurance company while buying term plan.
In our day to day life we see many uncertainties. We never know when those could touch us, so we required pre planning for such events before they can leave our family helpless. If you are the only wage earner of your family, you must think twice before choosing a good Term Plan and good insurance company. You may save some penny to invest in a cheaper insurance plan but always remember you may never want your family to be in trouble for your own money when you are no more.
LIC of India has been providing insurance services since 1956. It has more than 2000 branches and 8 zonal offices in India. LIC has more than 250 million lives insured till now and has best claim settlement record as per Insurance Regulatory Development Authority 2011-2012 report. LIC has settled one crore policies settlement through NEFT. Company has more than forty life insurance products in line with various features for different segments
Apart from two basic Temporary Assurance Policy and Convertible Term Assurance Policies, LIC has Anmol Jeevan and Amulya Jeevan pure term Plans for higher returns and long term. Basically both plans have same features but kept separated for higher risk cover and average risk cover.
Anmol Jeevan Policy can protect one for the risk cover less than 25 lacs and Amulya Jeevan policy can cover risk cover greater than 25 lacs. Both policy has same eligibility for application and features. Policy can be taken by a person completed 18 years and the maximum age of entry is 55 years. Risk cover will be available till 65 years. One can take this policy for years 5 to 25. Minimum SUM assured is five lacs and maximum differs in both Anmol Jeevan and Amulya Jeevan policy. Policy premium can be paid Yearly, Half- Yearly and Single premium. Rebate on premium will be 1 % for Annual premium for yearly mode and no rebate for Half-Yearly payment.
No surrender value is applicable in both policies and no loan can be taken against policy. In case of both insurance plan a grace period of 15 days will be given for premium payment in half yearly and yearly mode.
Both Anmol Jeevan and Amulya Jeevan insurance plans have tax exception provision under Income Tax Act 1961 for premium paid (80 C) and for death claim received (10 10 d).
Jeevan Saral VS Jeevan Anand
Jeevan Saral and Jeevan Anand are two most popular individual plans from LIC of India. Both plans are well design for great savings and risk cover against death. These are combinations of whole life and endowment plans and have some unique features that attract people. We will compare both policies in all relevant aspects.
Jeevan Saral Policy with Double accidental Death Benefits
People invest in whole life insurance because whole life plans are providing good savings and god risk cover. There are many whole life plans provided by life insurance companies in India but Jeevan Saral Policy from LIC has got Golden peacock award for its unique feature apart from good savings and risk cover.
LIC Jeevan Saral Review and Details
Jeevan Saral was introduced as a combination of Whole Life Policy and Endowment Plan in 2004 and now Jeevan Saral has best sale and demand in market. This policy has won Golden Peacock award. No other plan has such a great combination of risk cover and saving like Jeevan Saral.
