The Life Insurance Corporation of India (LIC) has launched Protection Plus (Plan 886) and Bima Kavach (Plan 887). They are totally different beasts. Here’s the reporter’s field notes on what they are and who they’re for.

Also Read |EPFO Alert: You Could Get ₹28,000. Check Your PF Balance Now

1. Protection Plus (Plan 886): The Investor’s Choice

This is a Unit-Linked, Non-Participating Life Insurance Plan (ULIP). Let’s be real, this is insurance with a strong side of market investment.

• The Vibe: Life cover plus investment. You choose the fund; the return is tied to the market. High risk, high potential reward.

• The Flex: You decide the premium amount. You can pay regularly or for a limited period. Here’s the kicker: you can also pay top-up premiums to boost your investment and make partial withdrawals after five years for that emergency cash.

• The Coverage:

  • Entry Age: 18 to 65 years.

  • Sum Assured: Linked to premium and age (7x annual premium for under 50; 5x for 50+).

  • Maturity: You get the total unit fund value (base + top-up funds). This is a survival benefit—you get back the investment portion.

Also Read |EPFO Alert: You Could Get ₹28,000. Check Your PF Balance Now

2. Bima Kavach (Plan 887): Pure Protection

This is a Non-Linked, Non-Participating, Pure Protection Plan (Term Plan). This is insurance in its rawest form: guaranteed payout if you die, no market risk, and no investment return if you survive.

• The Vibe: Financial support for your family. The benefits are fixed and guaranteed; they don’t depend on market performance, or nothing.

• The Muscle: The minimum cover is a whopping ₹2 Crore. There is no upper limit on the maximum sum assured, allowing individuals to secure massive coverage.

• The Flex: You choose the death benefit:

  • Level Sum Assured: Stays constant throughout the policy.

  • Increasing Sum Assured: Grows gradually over the years to keep up with inflation.

• The Coverage:

  • Entry Age: 18 to 65 years.

  • Maturity Age: Protection can run until a maximum age of 100 years, giving truly long-term security.

  • Survival Benefit: None. This is pure term insurance.

The Key Difference (For Financial Planning)

Ultimately, Protection Plus is for those who want to save long-term and are fine with market fluctuations. Bima Kavach is for those who want the maximum, guaranteed safety net for their family, simple as that.

Also Read |EPFO Alert: You Could Get ₹28,000. Check Your PF Balance Now

Disclaimer: This information is based on LIC’s public plan documents. Always read the full sales brochure and consult a financial advisor before purchasing any insurance plan.

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Pension Sakhi Yojana: The central government is implementing several schemes aimed at empowering women with self-reliance. Meanwhile, the central government launched the LIC Insurance Sakhi Yojana on December 9, 2024. This scheme has received positive feedback, with millions of women finding employment through this scheme. Similarly, preparations are underway to launch the Pension Sakhi Yojana. On October 1, on the occasion of NPS Day, Union Finance Minister Nirmala Sitharaman appealed for training and incentives for women as “Pension Sakhis.”

Sitharaman stated that the National Pension System (NPS) has rapidly transformed the pension approach in India. It needs to be expanded to all sections and classes. To expand the reach of this scheme, the government could launch the Pension Sakhi Yojana. Under this scheme, women will become Pension Sakhis to raise awareness about the NPS and encourage more people to register.

Learn what NPS is.
NPS, or National Pension System, is a voluntary scheme run by the government. Any Indian citizen between the ages of 18 and 70 can invest in this scheme. Even NRIs can invest. Investors can choose a mix of equities, corporate bonds, and government securities as per their choice. This scheme has consistently generated annual returns of 8% to 10%. Although NPS funds cannot be withdrawn until the age of 60, the tax benefits are quite attractive. ₹1.5 lakh is eligible for deduction under Section 80C of the Income Tax Act and an additional ₹50,000 is eligible for deduction under Section 80CCD(1B).

Learn about the Bima Sakhi Scheme.
This LIC scheme offers women a golden opportunity to build a better career by becoming insurance agents. Minister of State for Finance Pankaj Chaudhary stated that ₹62.36 crore has been disbursed to Bima Sakhis in the financial year 2024-25. For the financial year 2025-26, LIC (Life Insurance Corporation of India) has budgeted ₹520 crore, of which ₹115.13 crore has already been disbursed as of July 14.

The Bima Sakhi Yojana is a special scheme launched by the Life Insurance Corporation (LIC) for women. It benefits women between the ages of 18 and 70. Women who have passed 10th standard are given priority in this scheme. Under this scheme, women are first given training for three years. During this time, they are taught about insurance. During the training, they are given Rs 7000 per month in the first year, Rs 6000 per month in the second year, and Rs 5000 per month in the third year. A commission is given on top of that for insurance.

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LIC Jeevan Arogya Policy: In today’s fast-paced life, no one can say when someone will fall prey to which disease. Anyway, a lot of money is spent on diseases. In such a situation, it is very important to have health insurance. For this, Life Insurance Corporation of India (LIC) can prove to be a better option. LIC offers many policies for its customers. It is considered to be the largest company in India, which provides insurance to people of every class. Jeevan Arogya Policy has been started by LIC. In this, the expenses of the diseases of the entire family will be covered.

LIC ‘s Jeevan Arogya Yojana is a non-linked health policy. This policy helps you in health related diseases and the expenses incurred on it. In this plan, you can cover not only yourself, wife, children, parents but also your in-laws. It helps your family in bad times. The special thing is that the money of this plan is available only when the patient is admitted to the hospital.

How much premium will have to be paid
At the time of buying the plan, you have to pay the annual premium according to your age. If your age at the time of buying the plan is 20 years, then the premium will be Rs 1922 annually, Rs 2242 at the age of 30 years, Rs 2799 at the age of 40 years and Rs 3768 at the age of 50 years.

How to get coverage
Coverage is available from small hospital expenses to major operations. 50% payment is made immediately on hospitalization. Payment is made on the photocopy of the hospital bill. In serious cases like accident, operation, payment is made immediately. Ambulance charge of Rs. 1000 is also provided.

Daily profit of Rs 400
Under this scheme, if you get admitted in the hospital, you get the option to choose from Rs 1000 to Rs 4000 per day. You can take payment of Rs 4000 per day for 720 days. If your coverage amount is higher, you can take Rs 8000 per day for 360 days. This facility is for ICU. Under this scheme, you can avail the facility 5 times a year. In case of an accident, the claim is settled within 0 days.

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In such a situation, some plans of Life Insurance Corporation of India (LIC) are proving to be very beneficial for the salaried class. These plans are not only affordable, but also provide many benefits like security and bonuses in the long run. Let’s know about the benefits of these LIC policies.

Jeevan Amar Yojana…

This is a pure term insurance plan that can be purchased online, which reduces its premium rates. In this, if the policyholder wants, he can double the sum assured by paying about 25-30% more premium. It also has the option of an accident rider. In the event of death, the sum assured can be taken not at once, but in installments of 5, 10 or 15 years. The special thing is that women also get a discount of 10% to 20%.

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Jeevan Labh Yojana…

This is an endowment plan in which the amount is received immediately on maturity. If the policyholder dies, the family gets financial assistance. This plan makes the policyholder a participant in the profits of LIC and also gets a bonus. A discount of 2% is given on paying the annual premium. However, no tax deduction is available under the section on investing in this policy.

Jeevan Umang Yojana…

This is a plan that provides lifetime cover with coverage available up to 100 years. After the premium payment period ends, 8% of the sum assured is received every year. Also, the amount is received in one go on the maturity of the policy or in the event of death. It also has benefits like bonus and final addition bonus.

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What is Bima Sakhi Yojana?

The aim of the Bima Sakhi scheme is to make women from rural and semi-urban areas financially self-reliant. Under this, selected women are given training related to insurance, financial literacy, customer dealing and policy sales. After completing the training, women are issued Bima Sakhi certificate and LIC agent code.

The post LIC Bima Sakhi Yojana: Opportunity for women to earn ₹ 7000 every month, Key Feature & other Details first appeared on Rightsofemployees.com.

How to pay premium on WhatsApp?

Registered LIC customers can now send ‘HI’ on WhatsApp to mobile number 8976862090. After this, many options will appear on the screen. You can select policy services as per your choice. WhatsApp bot will give you information about your policies and you can make payment from there itself through UPI, net banking or card. You will also get the receipt there.

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By investing in some of the schemes of LIC, you get good returns and the investment amount is also safe.

Actually, SIIP is a Unit Linked Insurance Plan (ULIP), in which you get insurance coverage along with your investment. The returns in it are based on the performance of the stock market, so it comes with some risks, but with it you get the benefit of high returns and insurance protection. Let’s know the important information related to this plan and its benefits.

LIC SIIP: The best combination of insurance and investment

You get four fund options under LIC’s SIIP plan:

• Bond Fund
• Balanced Fund
• Safe Funds
• Growth Fund

Each of these fund options has its own risk profile. The highest returns are available in growth funds, in which up to 80% of the investment is made in the stock market. Although, this also involves market risk, the return potential is quite high.

Money will double…

Suppose, you have invested ₹1,00,000 every year for a period of 10 years under LIC’s SIIP plan. With this investment, you choose a growth fund, whose NAV growth is expected to be 15%. In 10 years, your total investment will be ₹10,00,000, and you are expected to get ₹19.3 lakh at maturity. This is just a potential calculation, which will depend on the market performance. This plan is available for different tenures of 10, 15, 20 and 25 years.

Suppose, if you take a SIIP plan for a period of 10 years and choose the growth fund option. Under this plan, if you deposit Rs 100,000 every year, a total of Rs 10,00000 will be deposited in 10 years. At maturity, you will get a total of Rs 19.3 lakhs considering the NAV growth of 15 percent. However, this is a probable calculation.

For SIIP plans:

• The policyholder’s age should be a minimum of 3 months and a maximum of 65 years.
• It also provides accidental death benefit rider and partial withdrawal facility.

LIC’s SIIP plan is a great way to grow your investments and secure your future. If you want to invest for the long term and also need insurance coverage, then this plan can be a good option for you.

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In this, you get a monthly, quarterly, half-yearly or annual pension. This plan also has a death benefit, various pension options and the facility to take a loan if needed. If you want a regular income after retirement, then LIC’s Smart Pension Plan can be a good option. It is a safe, reliable and easy plan, which offers multiple pension options. Some important questions related to this plan and their answers

1. What is LIC Smart Pension Plan?

It is a pension scheme in which you have to deposit money once. In return, you get pension every month or throughout the year.

2. Who can take this plan?

Any person between the age of 18 and 100 years can take up this scheme, provided he/she fulfills the rules of the scheme.

3. How many pension options are available in this plan?

• There are two types of pension options available in this plan.
• Single Life Annuity – In this, only the policyholder gets pension as long as he is alive.
• Joint Life Annuity – In this, along with the policyholder, his spouse also gets pension.

4. What is the minimum pension that can be received?

Per month – Rs. 1,000
Every three months – Rs. 3,000
Every six months – Rs. 6,000
Per year – Rs. 12,000

5. Can a loan be taken under this scheme?

Yes, the loan can be taken after three months from the date of policy issuance or after the free-look period ends. The maximum loan limit will depend on the surrender value of the policy.

6. Can people with NPS (National Pension System) take it?

If you are affiliated with NPS, you can improve your retirement pension by taking this scheme. With this, you will continue to get regular income.

7. What are the special facilities for Persons with Disabilities (PwD)?

If a person takes this scheme in the name of a disabled person and the policyholder dies, then a pension will be issued in the name of that disabled person from the death benefit.

8. How can this plan be purchased?

Online – By visiting the official website of LIC.
Offline – You can contact the LIC agent, broker or the nearest service center.

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Government-owned Life Insurance Corporation of India (LIC) has launched a digital marketing platform. This platform is the first initiative of the project drive launched to promote digitalization of LIC. This will make insurance related work of common people easier and along with this the credibility of the corporation will increase further in the insurance sector. This platform will provide hyper-personalized customer engagement and strengthen LIC in digital insurance innovation.

LIC said that this launch is the first step towards further strengthening the company’s presence globally in the insurance sector. LIC MD and CEO Siddharth Mohanty said that with the launch of the MarTech platform, LIC has taken a new leap towards digital transformation. Through this platform, policyholders will be able to connect with agents in an easier way.

LIC will dominate digital insurance

He said that MarTech is not just a technological innovation. Rather it is a strategic change that establishes LIC as a global leader in digital insurance innovation. He said that Project DIVE is a proof of our vision for the future. He said that in the coming days, LIC will dominate the digital insurance sector.

Benefits of Marketing Technology

A better connection will be established with policyholders and agents through the MarTech platform. This platform will provide the facility of hyper-personalized and multi-channel marketing, so that all policyholders will get better information about their policies. The company said that this MarTech platform has been launched under the first phase of Project DIVE. In the future, LIC will continue to add new digital capabilities, so that it can strengthen its position in the global insurance sector.

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This scheme is a non-participating plan, non-linked, individual or group, savings, intermediate annual plan. This scheme can relieve the financial tension of the elderly. It offers a variety of annuity options for both single life and joint life annuities, providing flexibility and protection to policyholders.

Special Features of LIC Smart Pension Plan

Age Eligibility:

The minimum entry age is 18 years, allowing young investors to plan early. The maximum entry age ranges from 65 to 100 years, depending on the annuity option chosen.

Flexible annuity options:

• Single Life Annuity: This provides annuity payouts for life.
• Joint Life Annuity: This ensures that the annuity payouts continue for both the primary annuitant and the secondary annuitant (e.g. spouse).

Incentives for existing policyholders and beneficiaries: Existing LIC policyholders and nominees/beneficiaries of deceased policyholders are offered higher annuity rates, making this plan more beneficial for loyal customers.

Liquidity Options for Withdrawal:

This policy offers the option of partial or full withdrawal under certain conditions, thereby providing financial flexibility to policyholders when needed.

LIC’s premium income declined

Public sector LIC’s net premium income in the third quarter fell by 9 per cent to Rs 1.07 lakh crore due to a 24 per cent decline in single premium collection and a 14 per cent decline in first year premium collection.

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There are many investment schemes, but Life Insurance Corporation of India (LIC) has no shortage of options. LIC has a scheme in which you can create a big fund by depositing a small amount every day. This fund can be used for studies or marriage or any other important work. Apart from this, this scheme has many other benefits as well.

The name of this scheme of LIC is Jeevan Anand Policy. In this, you can create a fund of Rs 20 lakh by depositing less than Rs 200 daily. If you want to create a bigger fund, you will have to invest more money. In this scheme, the sum assured is at least Rs 1 lakh. There is no maximum limit. You can create any big fund.

How will a big fund be created?

In this scheme, age and time limit matter. Suppose, you are 21 years old now. To create a fund of Rs 20 lakh, you will have to invest Rs 5922 every month for 30 years, i.e. about Rs 197 per day. This premium will be for the first year. From the second year onwards, you will have to pay a premium of Rs 5795 every month, i.e. about Rs 193.

What is this scheme?

This is a term maturity plan. You will have to pay premium for the number of years for which you want to take this plan. Like we have told about the 30 year plan. The policy holder will have to pay premium for this period. During this period, if the policy holder dies, then the nominee gets 125% of the basic sum assured or 105% of the premiums paid till death.

These benefits are also available

You also get the benefit of bonus in this plan. If you deposit about Rs 200 daily for 30 years, you can get a bonus of about Rs 30 lakh. However, for more information about this, go to the nearest branch of LIC. You can also take a loan on this policy.

Who can take this plan?

Any person between 18 and 50 years of age can take this policy. The policy term is 15 to 35 years. The premium can be paid on a monthly, quarterly, half-yearly or yearly basis.

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LIC Jeevan Pragati Plan: Today, there is a lot of turmoil in global politics. This is having a direct impact on the stock market. In such a situation, investing in the stock market and mutual funds is very risky. Apart from this, the pace of inflation is also increasing rapidly.

If you have savings and you want to invest it in a place where there is no risk of market risks, then we are going to tell you about a very great scheme of LIC, where you can save Rs 200 and collect a big fund of Rs 28 lakh. The name of this scheme of LIC is Jeevan Pragati Plan. Many people in the country are investing in this scheme. In this episode, let us know about LIC’s Jeevan Pragati Plan in detail –

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Keeping in mind the people of different income groups in the country, LIC is running many great schemes. Many people in the country see LIC as a safe investment option. In this episode, today we are going to tell you about a very great investment plan of LIC, where you can get pension for life by investing once.

The name of this scheme of LIC is Saral Pension Plan. If you want to get regular income every month on your investment, then this scheme is a great option for you. This scheme of LIC is very popular as a retirement plan. If you have recently retired, then you can invest your retirement fund or gratuity amount in this scheme. Let us know about this scheme in detail –

Any person between 40 and 80 years of age can invest in LIC’s Saral Pension Plan. In LIC’s Saral Pension Plan, you can buy an annuity of at least Rs 12,000 annually.

The maximum investment limit has not been fixed in this scheme. In this scheme of LIC, you can get the benefit of pension on annual, half-yearly, quarterly or monthly basis by paying premium once.

If a person buys an annuity of Rs 30 lakh at the age of 42, then he will get a pension of Rs 12,388 every month for life. You can buy this plan by visiting the official website of LIC.

After completion of 6 months of this LIC scheme, you can surrender it at the time of need. The special thing about LIC Saral Pension Plan is that you can also take a loan under this scheme at the time of need. However, the amount of loan you will get will be decided on the basis of your investment amount.

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That is, now only people up to the age of 50 will be able to take the endowment plan. According to sources, this change has become effective from October 1, 2024.

According to this, ‘As per the new surrender norms, the maximum age of entry into LIC’s ‘New Endowment Plan’ has been reduced from 55 to 50 years.’

LIC’s New Endowment Plan-914 is a participating endowment plan and it provides dual benefits of protection and savings plan. LIC’s New Endowment Plan provides both death and maturity benefits. Endowment plan is a type of life insurance policy which not only provides life insurance cover but also maturity benefits. In case of death of the policyholder during the policy period, a lump sum amount is provided to his family and under the maturity component, a fixed payment is provided at the time of maturity.

LIC has reduced the entry age probably because the life expectancy rate of people increases after a certain age.

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Keeping in mind the needs of the people and other things, LIC is running many great investment schemes in the country. In this episode, today we are going to tell you about a very great scheme of LIC, where you can save Rs 200 and collect a big fund of Rs 28 lakh.

This scheme of LIC is very popular in the country. Many people are investing their savings here. This is the Jeevan Pragati plan of LIC. By investing in this scheme, you also get the benefit of risk cover. In this episode, let us know about this scheme in detail –

The minimum age limit for investment in LIC’s Jeevan Pragati plan is 12 years. The maximum age limit is 45 years. By investing in this scheme, you get good returns as well as life time security.

In LIC’s Jeevan Pragati plan, the risk cover keeps increasing every five years. Under the scheme, if the policyholder dies, the sum of the insurance amount, simple reversionary bonus and final bonus are paid together.

If you save Rs 200 every day in LIC’s Jeevan Pragati plan and invest Rs 6,000 every month in it, then you will deposit Rs 72,000 annually in this scheme.

In this case, you will invest Rs 14,40,000 for 20 years. If you add all the benefits, then after 20 years you will have a total of Rs 28 lakh. The minimum term in this scheme has been fixed at 12 years. The maximum term has been fixed at 20 years. The minimum sum assured of LIC’s Jeevan Pragati plan is Rs 1.5 lakh. The maximum has not been fixed.

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This plan is specially designed to provide simple, flexible and affordable life insurance. It aims to meet the needs of financial institutions, including microfinance institutions, to cover their lenders, co-operative societies, self-help group members and NGOs. It also addresses the essential insurance needs of members of unorganised groups, employer-employee groups and other affinity groups.

The post LIC launched Single Premium Group Micro Term Insurance Plan, know its special features first appeared on Rightsofemployees.com.

Despite the availability of many investment options, there are some investments that people have trusted for a long time. Even today, people definitely include them in their portfolio. People have the same trust in LIC. Even today, many people like to invest in LIC schemes. Today we tell you about one such scheme of LIC for which if you save just Rs 45 daily, you can create a fund of Rs 25 lakh for yourself.

We are talking about LIC’s Jeevan Anand policy, in Jeevan Anand policy, a sum assured of one lakh rupees is given, while there is no maximum limit. Bonuses, death benefits and other benefits are also included in this scheme. Know the details here.

You get these benefits

This policy of LIC is a term policy. There are four types of riders available in this policy. These include Accidental Death and Disability Rider, Accident Benefit Rider, New Term Insurance Rider and New Critical Benefit Rider. If the insured person dies due to any reason, then his nominee gets 125 percent death benefit. However, there is no tax benefit in this policy.

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These features are also included

Any person between the ages of 18 and 50 can buy this policy. The maximum maturity age is around 75 years. The minimum policy term is 15 years and the maximum policy term is 35 years. You are given the option to pay the policy premium on a monthly, quarterly, half-yearly or yearly basis. The policy can be surrendered at any time, provided two full years’ premiums have been paid. On surrender of the policy, LIC will pay a surrender value equal to the Guaranteed Surrender Value or Special Surrender Value, whichever is higher. Loan facility is also available against the policy.

25 lakhs will be added like this

If you take a policy with a sum assured of 5 lakhs, you will have to invest Rs 1358 every month. In this way, Rs 16,300 will be deposited in a year. To add Rs 1358 per month, you will have to save Rs 45 every day. In this way, by depositing Rs 16,300 every year, you will invest a total of Rs 5,70,500 in 35 years. After 35 years, you will get Rs 5 lakh as sum assured, Rs 8.50 lakh as bonus and about Rs 11.50 lakh as final additional bonus. In this way, you will get a total of Rs 25 lakh on maturity.

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However, whenever a policy is stopped, the insurance company gives a chance to revise it for 2 years. In such a situation, you have a chance to restart that policy. If you also want to restart your closed LIC policy, then know here what is the way to do it.

This is the way to restart the policy

The policyholder has to pay all the outstanding premiums and interest to restart the policy. To restart the policy, the policyholder can complete the LIC policy revision process by visiting the agent or branch. For this, inquiries can also be made by calling customer service. Any special report or medical report required to restart the policy is paid by the policyholder.

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What is unclaimed amount

Many times account holders are unable to deposit the premium due to various problems and do not even surrender the policy. In such a situation, their money remains with LIC. On the other hand, if a policyholder dies due to any reason and the nominee does not claim the amount for years, then such money is considered unclaimed after a certain period. The facility to check such unclaimed money is also given to you by LIC.

Check the unclaimed amount like this

To check the unclaimed amount, you have to visit the official website of LIC. After this, come to the bottom and go to Unclaimed Amounts of Policyholders among the options given there and click on it. After this a window will open in which you will be asked for the policy number, name of the policyholder, date of birth and PAN card number. After giving this information, you have to click on the submit button. If you have any money in LIC, it will be visible as soon as you click on submit. After this you have to complete the process of claiming the money.

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In such a situation, if we tell you that you have an option with the help of which you can easily take a loan at low interest. But for this, it is necessary for you to have a LIC policy, because you can take a loan on it at low interest. Let us know how you can take a loan on your LIC policy.

Who can take loan against LIC

• If you want to get a loan against LIC policy, then you will have to fulfil certain standards.
• You must have Indian citizenship.
• The person taking the loan should be at least 18 years of age or above.
• The person taking the loan must be a policyholder and should have a valid LIC policy with at least 3 premiums paid.

Why is LIC loan beneficial

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These are non-participating, non-linked, risk plans. These plans are designed to provide protection against loan repayment risks. Know their advantages and disadvantages here.

LIC’s new plans

LIC CEO and MD Siddhartha Mohanty has launched LIC Yuva Term (UIN: 512N355V01), Digi Term (UIN: 512N356V01), Yuva Credit Life (UIN: 512N357V01), and Digi Credit Life (UIN: 512N358V01).

LIC Yuva Term/Digi Term

Financial Security: Provides financial security to the family of the policyholder in case of death of the policyholder during the policy term.

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Guaranteed Death Benefits: Offers guaranteed death benefits and the plan is available both online and offline.

How to buy:

LIC Yuva Term: Available through intermediaries.

LIC Digi Term: Available only on LIC website.

Target Customer : Specifically designed for young individuals, offering offline and online shopping options.

Age of Entry

Minimum Entry Age: 18 years.

Maximum Entry Age: 45 Years.

Maturity age: Between 33 to 75 years.

Sum Assured: Between Rs 50 lakh and Rs 5 crore.

Death Benefits

Regular and Limited Premium Payment: Seven times the annual premium or 105% of total premiums paid till the date of death or fixed amount.

Single Premium Payment: 125% of single premium or sum assured.

LIC Yuva Credit Life/Digi Credit Life

Yuva Credit Life/Digi Credit Life plans provide coverage for loan liabilities, thereby providing protection against repayment for needs such as housing, education or vehicle. These plans are also available both offline and online.

Sum Assured: Rs 50 lakh to Rs 5 crore.

Death Benefits: In case of death of the policyholder during the policy term, death benefits get reduced as per the loan balance. These new plans of LIC will give young consumers a better opportunity to secure their future and get protection from loan risks.

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However, many people stay away from investing in LIC because they feel that its premium is very high. In such a situation, you may like LIC’s policy named Jeevan Anand. The special thing about this policy is that you can create a fund of Rs 25 lakh by investing just Rs 45 daily. The

most special thing about Jeevan Anand policy is that it offers many other benefits. Actually, it is a kind of term policy. Four types of riders are available in this policy. These include Accidental Death and Disability Rider, Accident Benefit Rider, New Term Insurance Rider and New Critical Benefit Rider. If the policyholder dies due to any reason, then the nominee gets 125 percent death benefit of the policy. Keep in mind here that by investing in this policy, the policyholder does not get the benefit of any kind of tax exemption.

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How to create a fund of Rs 25 lakh from Rs 45

Suppose your age is 30 years. You will have to take this policy with a sum assured of Rs 5 lakh. In such a case, you will have to pay a premium of Rs 1341 per month. This premium will be around Rs 45 per day. You will have to invest in this for 35 years. After 35 years, you will get Rs 25 lakh. In this Rs 25 lakh, Rs 5 lakh will be sum assured, Rs 8.50 lakh will be bonus and around Rs 11.50 lakh will be final additional bonus. In this way, you will get a total of Rs 25 lakh.

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In fact, on July 5, 2024, LIC has advised its shareholders to update PAN through an advertisement. The advertisement said that the Board of Directors of the Corporation in its meeting held on May 27, 2024 has recommended a final dividend of Rs 6 on each equity share of face value of Rs 10.

LIC shareholders – only these people will get dividend

This has been declared by the members of the Corporation in the third Annual General Meeting to be held on Thursday 22nd August 2024 for the financial year 2023-24. As per the record date which is Friday 19th July 2024, the dividend will be paid to the members who hold equity shares of LIC in physical or electronic form. The dividend will be paid to the members eligible for final dividend within 30 days of the declaration date or latest by 20th September 2024. Members who have updated their bank account details with their depository participants can receive the payment online and through other modes.

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Shareholders should update this information

LIC said in the newspaper that members who have not updated their bank account details are requested to update them in time. The dividend will be transferred by July 19. Dividend payment will be made as per the bank details of any member.

TDS is deducted on dividend income

The Income Tax Act 1961 (IT Act) mandates that the Corporation deducts Tax Deducted at Source (TDS) on dividends paid to members. Dividend income of members is taxable. To enable compliance with TDS requirements, LIC members are advised by the company to complete and update their residential status, PAN and category as per the IT Act with their DP.

This is the rule

According to the LIC website, however, no tax will be deducted on dividends paid to resident members (individuals) if the total dividend paid to them during the financial year 2024-25 does not exceed Rs 5,000. Where the PAN is either not registered or invalid. Tax deducted at source will be deducted at the same rate as the higher of the prescribed TDS rates or @ 20%. Members will also be able to view the credit of TDS in Form 26AS, which can be downloaded from their e-filing account https://www.incometax.gov.in/iec/foportal.

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This is an assignment of life insurance policies, with the help of which policyholders considering policy surrender or policy lapse will get great relief. Life insurance policyholders will be able to easily get their surrender value with the help of this platform. Let us tell you that ALIP operated by ACESO Endowment Services Private Limited has been designed to provide maximum value and benefits to LIC policyholders.

Nominees will get life coverage

Further, ALIP goes beyond the idea of ​​surrender value and provides year-wise life coverage benefits to the nominees of the policyholder in case of accidental death or lapse of premium from the date of assignment to the date of maturity. All this is provided by an independent SPV trust, which is managed by a company registered with the Securities and Exchange Board of India (SEBI).

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ACESO said this

Ranjit Kulkarni, Head of Research and Strategic Acquisitions at ACESO, said that endowment policies contribute a significant 80 per cent of all its policy issuances, playing a vital role in the insurance landscape. However, 50 per cent of these policies are surrendered before maturity or lapse. He further said that ALIP gives LIC insured people a simple option to surrender their policies prematurely, which will ensure that they can unlock their insurance policy value while also protecting their future life coverage.

Payment will be made in 48 hours

With the help of ALIP, the policyholder will be able to get his payment in less time under a faster process. Under ALIP, after completion of all the necessary documents, the payment will usually be made within 48 hours. Apart from this, the documentation and KYC process is completed online as quickly as possible, so that both the policyholder and his LIC agent do not have to face any hassles.

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For this reason, many investment schemes of LIC are quite popular in the country. If you are thinking of investing in a great scheme for the purpose of securing your future, then today we are going to tell you about a very great scheme of LIC. The name of this scheme of LIC is Jeevan Umang Policy. By investing in this scheme of LIC, you can financially secure your life after retirement. The most special thing about this scheme is that you also get the benefit of life insurance in this. In this episode, let us know about this scheme in detail –

If you invest Rs 10,000 every month in LIC’s Jeevan Umang policy for the entire 15 years, then you will start getting pension benefits after the premium payment date ends. You will get the benefit of this pension throughout your life.

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In this way, you can secure your future by investing in LIC’s Jeevan Umang policy. After investing in this scheme, you get the benefit of life insurance along with regular pension.

After investing in this scheme, the policy holder also gets the benefit of the assured sum. Not only this, if you ever need a loan in the future, you can also take a loan on the basis of LIC Jeevan Umang policy.

In this scheme, you can pay the premium for 15 years, 20 years, 25 years and 30 years. People from the age of 90 days to 55 years can invest in LIC Jeevan Umang Plan.

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The total premium collection of LIC in April, 2024 was Rs 12,383.64 crore. A year ago, in April 2023, the company had received a premium of Rs 5,810.10 crore (LIC Premium). In this one year period, LIC premium has more than doubled.

Premium of LIC and private insurance companies increased by 61 percent
The country’s largest insurance company LIC (Life Insurance Corporation of India) had achieved a higher premium than this in April 2014. Compared to April 2023, the premium of LIC and private insurance companies has increased by 61 percent. LIC has a big contribution in this increase. During this period, LIC premium has increased by 113 percent.

Changes made in many products according to customer needs
The company said that this is a big achievement for us. We have promoted innovation in marketing during this period. Besides, changes have also been made in many of our products as per the needs of the customers.

Besides, new products have also been launched in the market during this period. Due to this, the trust of customers in LIC has strengthened. This is the reason why our policies have been sold more in the last one year and the premium has also increased more than double. We have broken the record of the last 12 years.

The total number of LIC policies also increased to 8.56 lakh.
LIC has received Rs 3,175.47 crore in the individual premium category. The company has received Rs 9,141.34 crore in group premium and Rs 66.83 crore in annual group premium. The total number of LIC policies has also increased to 8.56 lakh in April, 2024. In April, 2023 the same figure was 7.85 lakh.

Performance of private insurance companies was also excellent
The premium of SBI Life, the largest among private insurance companies, has also increased by 26 percent during this period. The premium of HDFC Life has increased by 4.31 percent, the premium of ICICI Prudential has increased by 28.13 percent, the premium of Bajaj Allianz has increased by 25.20 percent and the premium of Max Life has increased by 41 percent.

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LIC Scheme: There are many people in India who have great faith in LIC i.e. Life Insurance Corporation. People like to invest in LIC insurance or policy for security as well as good returns. There are many types of policy plans in it, from children to senior citizens. Meanwhile, LIC’s Jeevan Anand policy is making a lot of headlines.

Get maturity benefit
In this, a person can make a fund of Rs 25 lakh in his name by saving just Rs 45 daily. This policy is a very good option for high returns with very low premium. This is a term policy plan in which maturity benefit is also given to the policy holder. In this, the minimum sum assured is Rs 1 lakh and there is no maximum limit.

Benefits available in Jeevan Anand Policy

If the policy holder dies, the nominee gets the benefit of 125 percent death benefit.
The benefit of tax exemption is not given in this.

In this policy, the benefits of Accident Benefit Rider, New Critical Benefit Rider, New Term Insurance Rider and Accidental Death and Disability Rider are given.

LIC Jeevan Anand Policy Calculation
In this, the person will have to deposit Rs 1358 every month, after which he can get Rs 25 lakh. This clearly means that you have to deposit only Rs 45 daily in this scheme. This is a kind of long term plan in which investment has to be made from 15 years to 35 years.

If you invest in it for 35 years, then after maturity you will be given Rs 25 lakh. In this policy you will be able to save up to Rs 16,300 annually.

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LIC Special Pension Scheme: Life Insurance Corporation (LIC) offers several investment options that provide impressive returns along with security of returns on investment. In one such standard immediate annuity, LIC Saral Pension Scheme, the government-owned insurer offers investors an opportunity to secure their future. This scheme follows the guidelines of Insurance Regulatory and Development Authority of India (IRDAI).

Age limit for investing in LIC Saral Pension Scheme
The minimum age limit for investing in LIC Saral Pension Scheme is 40 years while the maximum age limit is 80 years.

Two annuity options in LIC Saral Pension Scheme
LIC Saral Pension Plan offers investors to select the type of annuity from two available options:

Option 1: Insurers can choose to get an annuity with 100% return on the purchase price.

Option 2: In the second option, the insurer can select the joint-life last-survivor, who will continue to receive the annuity with 100% return on the purchase price.

How to invest in LIC Saral Pension Scheme?
Investors who are planning to invest their money on LIC Saral Pension Scheme can buy the policy through a LIC agent or the nearest LIC office. You can also invest in this scheme online through www.licindia.in.

What is the minimum investment in the scheme?
You can invest a minimum of Rs 12,000 per year in the Saral Pension Scheme, which works out to Rs 1000 per month; Rs 3000 per quarter; And Rs 6000 per half year. That means you can deposit money in three ways.

According to LIC calculator, if a 42 year old person buys an annuity of Rs 30 lakh, he will get Rs 12,388 as pension every month.

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We are talking about such a policy of LIC, which guarantees you pension every month. The special thing is that you have to invest only once in this and with this you start getting pension. The name of this policy is LIC Saral Pension Plan.

The age limit for the scheme is 40-80 years.

This LIC Saral Pension Scheme, which guarantees pension throughout life, can be purchased by a person between the age of 40 years to 80 years. You can take this scheme alone or along with husband and wife. In this, the policyholder is also given the facility to surrender anytime after six months from the date of commencement of the policy. Similarly, in case of death benefit, if the policyholder dies, the investment amount is returned to his nominee.

Popular as a retirement plan –

LIC Saral Pension, which gives fixed pension every month, is also seen as a retirement plan. Actually, this scheme fits perfectly into post-retirement investment planning. Suppose any person has recently retired. If he can invest the money received from PF fund and gratuity during retirement in it. Then he will continue to get the benefit of pension every month throughout his life.

No maximum limit for investment-

In LIC Saral Pension Plan, you can buy annuity of at least Rs 12,000 annually. There is no limit on maximum investment, you can get pension according to your investment. In this screen, any person can get pension on yearly, half yearly, quarterly or monthly basis after paying the premium under this plan. He can buy annuity from this lump sum investment. According to LIC Calculator, if any 42 year old person buys an annuity of Rs 30 lakh, then he will get Rs 12,388 every month as pension.

Loan facility also available-

In this pension policy of LIC, loan facility is also provided to the policyholder. Under Saral Pension Scheme, policyholders can also take a loan after six months. Another special thing in this simple pension scheme is that the amount of pension you start getting, you will continue to get the same amount throughout your life. To buy this plan online, you can visit the official website of LIC www.licindia.in.

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It can be purchased both online and offline from February 17, 2024. According to LIC, LIC Amritbal policy is designed to provide adequate funds to meet the needs of the child.

Life Insurance Corporation of India (LIC) has launched its new scheme (LIC New Scheme) Amritbaal with the aim of securing the future of children. Amritbal is an individual savings life insurance plan specifically designed to meet the higher education and other needs of the child. This plan has also been named ‘Plan 874’, which has been specially designed for children. In a way, this is a child insurance policy. People can buy this policy from today. Let us tell you about this new policy of LIC.

You will get discount on buying online

Life Insurance Corporation of India (LIC) has launched a new insurance policy specially designed for children aged between 30 days to maximum 13 years. You will also get a discount on purchasing this Individual Savings Life Insurance Plan online.

According to LIC, LIC Amritbal policy is designed to provide adequate funds to meet the needs of the child. This policy can be purchased both online and offline from Saturday, February 17, 2024. This policy offers Sum Assured through Guaranteed Addition at the rate of Rs 80 per thousand of Basic Sum Assured at the end of each policy year from inception to the end of the policy term.

Many options are available

Short term premium payment terms of 5, 6 or 7 years are available for this policy. The maximum premium payment term is 10 years. You can also choose the single premium payment option. Under this, you will have to take an insurance of at least Rs 2 lakh. If you want, you can take the maturity settlement in 5th, 10th or 15th year like a money back plan.

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LIC Share Price: Shares of the country’s largest life insurance company LIC (LIC Share Price) have done wonders. Today for the first time the company’s stock has crossed the level of Rs 1000. LIC shares rose 6 percent during trading on Monday. After this rise, the market cap of the company increased by more than Rs 6 lakh crore.

Today the company’s stock closed at the level of 995.75 with a rise of 5.32 percent i.e. Rs 50.30. At one point during today’s trading, the stock had risen by 8.81 percent to reach its 52-week record level of Rs 1,027.95. Its shares rose by 5.64 percent at Rs 998.85 on NSE.

MCAP reached Rs 6,32,721.15 crore

Amid the rise in the stock market, the market cap of LIC increased by Rs 35,230.25 crore to reach Rs 6,32,721.15 crore. So far this year, LIC shares have risen by 20 percent.

How much did the stock increase in 6 months?

In the last 6 months, LIC has given a return of 51.90 percent i.e. Rs 340.20 to investors. At the same time, in the last one year the share has given a return of 65.99 percent to the investors.

SBI was also left behind

At the same time, last month LIC became the most valuable public sector company in the country by leaving behind State Bank of India (SBI) in terms of market cap. However, Reliance Industries is the most valuable company in the country with an mcap of Rs 19,46,521.81 crore.

The listing took place in May 2022

The country’s largest insurance company LIC was listed in the stock market in May 2022. At that time, the government had sold more than 22.13 crore shares i.e. 3.5 percent stake in LIC through IPO. The government still holds 96.5 percent stake in the company.

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Notification has also been issued in this regard. Besides, LIC has also informed the stock market about this. The new rules have come into effect from December 6. It is noteworthy that in September 2023, the Finance Ministry had made several announcements for LIC agents and employees.

The Finance Ministry had announced increase in gratuity limit and family pension and restoration of renewal commission for the benefit of LIC agents and employees. Now a notification has been issued to increase gratuity from Rs 3 lakh to Rs 5 lakh, increase the rate of family pension to 30 percent and reintroduce renewal commission.

Term insurance cover also increased

According to a report  the term insurance cover for agents was Rs 3,000 to Rs 10,000, which has been increased to Rs 25,000-1,50,000. This will provide better security cover to the families of the agents. Approval has also been given to give family pension at the rate of 30 percent to the families of LIC employees.

Renewal commission reinstated

By making changes in the LIC (Agents) Rules 2017, not only has the gratuity limit for LIC agents been increased from Rs 3 lakh to Rs 5 lakh, but the renewal commission has also been restored. This reinstatement will provide a lot of relief to the agents. Now LIC has considered the re-appointed agents also entitled to receive renewal commission. As per the current LIC rules, agents are not entitled to renewal commission on any business under the old agency.

Important contribution of agents in increasing business

LIC is the largest insurance company in the country. LI has an agent network across the country. About 13 lakh agents of LIC have an important contribution in increasing the business of the company. The market capitalization of LIC is around Rs 5 lakh crore.

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LIC said that this plan will be available from Monday (January 22), that is, this plan can be purchased from Monday. Jeevan Dhara II is a non-linked and non-participating annuity plan. This plan of LIC is an individual savings and deferred annuity plan.

Annuity guaranteed from day one

The most special thing about this plan is the annuity guarantee. In this, the annuity is guaranteed from the beginning. In this, 11 annuity options will be available for policyholders. Policy buyers will also get higher annuity rates and life cover even at older ages.

The minimum age to buy a policy is 20 years.

The minimum age to buy this plan is 20 years, while the maximum age limit will be decided according to the annuity option. The maximum age limit for purchasing Jeevan Dhara II plan is 80 years, 70 years and 65 years minus deferment period.

Annuity option in LIC Jeevan Dhara II

Regular Premium: Deferment period ranges from 5 years to 15 years.
Single Premium: Deferment period ranges from 1 year to 15 years.
Single life annuity and joint life annuity.

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Why should you buy term insurance plan?

Term insurance plan is suitable for working people. In this, life with family should save oneself from death. This plan provides financial security to the policy holder and his family. You also get death benefit in this policy.

Death interest

After the death of the policy holder, the nominee receives the insurance amount. This amount is given in lump sum. If the nominee wishes, he can take the lump sum amount in installments.

He can take the insurance amount on monthly, quarterly, half yearly or yearly basis. The policy holder can select these options during his lifetime.

Maturity benefit

After maturity of LIC Jeevan Kiran policy, the policy holder can also take the investment amount in lump sum after maturity. Apart from this, he can select how to invest. If he wants, he can make payment on monthly, quarterly, half yearly or yearly basis. A minimum investment of Rs 5,000 can be made in this policy on a monthly basis.

After the death of the insured, the nominee will get death benefit.

If the policy holder dies, the nominee will receive the investment amount of the policy. The company will pay the entire investment amount in lump sum. However, the nominee can select whether he will take the amount in lump sum or in installments. You can select this option at any time during your lifetime to avail all the benefits available under the policy terms or death benefit.

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Specialties of LIC Jeevan Utsav

The specialty of LIC Jeevan Utsav is that its premium pay term is between 5 to 16 years. That means you will have to pay the premium of the policy for a limited time. You will start getting the benefits of the policy after waiting for a few years depending on the premium pay term.

If death benefit is also given in this policy. If an individual dies during the policy term, Basic Sum Assured or 7 times the annual premium whichever is higher. That will be given. The death benefit can never be less than 105 percent of the total premium paid.

At the same time, if the person survives after the completion of the policy term, an income benefit of 10 percent of the basic sum assured will be given every year on regular and flexi basis. The minimum sum assured in LIC Jeevan Utsav will be Rs 5 lakh.

How to get pension of one lakh

For example, if you are a 25 year old person and select LIC Jeevan Utsav Plan with Rs 10 lakh sum assured and premium pay term of 12 years. In this you will have to pay premium for a period of up to 36 years (premium pay term 12 years). A premium of Rs 92,535 (GST 4.5 per cent) will have to be paid in the first year of the policy and a premium of Rs 90,542 per annum (2.25 per cent) from the second year to year 12.

You will have to wait for the 37th and 38th years after completing the premium pay term. After this, you will be given an income benefit of Rs 1 lakh (10 percent of the sum assured) from LIC from 39th year to 100th year.

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LIC schemes are not only reliable but after investing in them, you also get excellent returns. For this reason, millions of people across the country prefer to invest in LIC schemes. In this series, today we are going to tell you about a very wonderful plan of LIC. The name of this scheme of LIC is Jeevan Umang Yojana. People are getting many great benefits by investing in LIC’s Jeevan Umang Plan. In this scheme, you can avail the benefit of Rs 48 thousand every year by saving only Rs 54.

If you buy Jeevan Umang policy for 30 years with a sum assured of Rs 6 lakh at the age of 25 years. In such a situation, after saving Rs 54.6 daily, you will have to pay a premium of Rs 1638 in this scheme every month. When you turn 55 years old. At that time the payment term of the policy will end and you will get Rs 48 thousand every year till maturity. In LIC’s Jeevan Umang Scheme, the maturity age has been fixed at 100 years.

In such a situation, you will continue to get maturity benefit under LIC Jeevan Umang Plan till the age of 100. You are also getting the benefit of death benefit in LIC Jeevan Umang policy. This scheme of LIC is a non-linked, participating, life insurance plan. If you are looking for a good investment plan to secure your future. In such a situation, this scheme of LIC can prove to be a good option for you.

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The name of this scheme is LIC Aadhaar Shila Plan. In this plan, you get huge benefits in the long term.

LIC Aadhar Shila Scheme is a non-linked, individual life insurance scheme. This scheme has been specially designed for women. On the maturity of this policy, the investor gets a fixed amount from LIC. To invest in this, the age of the woman should be between 8 to 55 years.

If the policyholder dies before the completion of the policy, then in such a situation the family gets financial assistance. Only physically healthy people can invest in this scheme.

Under the Aadharshila policy, the basic sum assured under LIC Aadharshila plan is minimum Rs 75,000 and maximum Rs 3,00,000. In this plan, you get the option of monthly, quarterly, half yearly and yearly payment of premium.

The maximum age of maturity in this scheme is 70 years. This means that the age of the policy holder at the time of maturity should not be more than 70. A lump sum amount is received on maturity.

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LIC Disinvestment Plan in IDBI Bank: IDBI Bank’s promoter Life Insurance Corporation of India has given a big statement regarding selling its stake in the bank. The insurance company has said that LIC wants to retain some of its stake in IDBI Bank to take advantage of the bank-insurance business. Speaking to PTI, LIC Chairman Siddharth Mohanty said that LIC does not want to sell its entire stake at present.

IDBI Bank is necessary for bank-insurance business-

LIC Chairman said that IDBI Bank is an important partner of the bank-insurance business of Life Insurance Corporation of India. In such a situation, LIC wants to retain some of its stake in the bank in future also so that the bank remains an important part of its bank-insurance business.

What is bank-insurance business?

It is noteworthy that through bank-insurance business, insurance products are sold through banks. In such a situation, IDBI Bank plays an important role in saving the products of LIC. It is worth noting that the government has been preparing to sell stake in IDBI Bank in collaboration with LIC for a long time. Government’s stake in this bank is 45 percent and LIC’s stake is 49.24 percent. The government wants to sell 60.70 percent of its stake in LIC under the disinvestment plan.

When will the disinvestment process be completed?

Giving major information on the process of disinvestment, Tuhin Kant Pandey, Secretary of DIPAM i.e. Department of Investment and Public Asset Monetization, had said that the process of disinvestment of the government and LIC in IDBI Bank can be completed by March 2024. In the year 2019, LIC became a subsidiary of IDBI Bank, but in 2020, after LIC’s stake increased to 49.24, it became a subsidiary of the bank.

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LIC Chairman Siddharth Mohanty has said in an interview that we are estimating double digit growth as compared to last year. Recent trends are showing a boom in personal retail business, so we will achieve this target.

Will introduce new service in the first week of December

Let us tell you that LIC is going to introduce a new service in the first week of December. Hopefully it will get a good response in the market. Sharing some of the features of the new service, Mohanty said that it will provide assured returns and after its completion, the policyholder will get 10 percent of the sum assured for the lifetime.

Impact of new service will be visible in the market

He expressed confidence that the new service will create a stir in the market as everyone wants to know how much he is paying and how much return he will get after 20-25 years. He said that apart from this, loan facility and premature withdrawal are also included in the features of this new service.

Income increased by 2.65 percent in the first half

In the first half of the current financial year 2023-24, LIC’s new policy premium income segment increased by 2.65 percent to Rs 25,184 crore, compared to Rs 24,535 crore in the same period a year ago. New policy premium is the insurance premium payable or lump sum payment made by the policyholder in the first policy year of the life insurance contract.

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Similarly, LIC also keeps coming up with different types of plans for people of different ages. Being a government unit, there is little risk of losing money here. That’s why people are associated with many of its policies. One such policy is also for women, in which you can collect up to Rs 11 lakh on daily savings of Rs 87. So without any delay, let us know about this policy of LIC.

This is the policy

• Actually, the name of this policy of LIC is LIC Aadhar Shila Plan. Women can get a good amount by investing in it. For this, women will have to save Rs 87 daily, after which you will accumulate Rs 31 thousand 755 annually.

• Talking about the maturity of this Aadhar Shila plan, its duration is 70 years. At the same time, by investing in this scheme, you can get a benefit of up to Rs 11 lakh at the time of maturity.

• Whereas, the minimum sum assured in this scheme of LIC is Rs 75 thousand. Whereas, the maximum sum assured is Rs 3 lakh. At the same time, the minimum policy term of this scheme is 10 years and maximum is 20 years.

Who can join?

• If your age is between 8 to 55 years, and you are a woman then you can join this Aadhar Shila scheme of LIC. In such a situation, if you are planning to save money, then this scheme may be better for you.

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When the policyholder does not pay his premium on time, his life insurance policy lapses. Due to this, the benefits they get on the coverage also become temporarily inaccessible. To restart this insurance coverage, life insurance companies usually give a window of two years, during which period the policy holder can renew the policy by paying the premium and restarting the coverage.

What is a lapse policy?

If the premium is not paid within the stipulated days then the insurance policy lapses. To get the coverage available on any policy, it is necessary to renew the insurance policy from time to time by paying premium. If this is not done, the policy lapses. Life Insurance Corporation of India (LIC) reserves the right to reinstate or reject a canceled policy. LIC gives permission to restart the discontinued policy.

How to revive lapsed LIC policy

If your policy has lapsed due to non-payment of premium within the due date, all benefits, terms and conditions associated with the policy remain invalid until you revive it.

How to revive lapsed policy

If you have any LIC policy which has lapsed, you can pay its premium along with late fine. After paying the premium of LIC policy, the health benefits related to the policy will start.

Contact LIC – You can contact LIC through their customer care number, email or at your Pasi LIC branch.

Request for Revival Form – You can submit the revival form to revive your policy.

Pay late fine along with premium – You can pay the interest by paying late fine along with your premium.

How to get LIC policy service on WhatsApp

1. Type ‘Hi’ and send it to 8976862090 through WhatsApp application.

2. You will get 11 options to choose from. To select a service, reply in the chat with the option number. For example, if you want to know when your next LIC policy premium is due and how much premium you have to pay then send 1.

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They do not have to face the dangers of market risks. For this reason, instead of investing in any other schemes, people prefer to invest in LIC schemes. In this series, today we are going to tell you about a very wonderful scheme of LIC, which is being run especially for women. The name of this scheme of LIC is Aadhar Shila Yojana. This is a non-linked personal life insurance scheme of LIC. By investing in this scheme of LIC, you can get fixed returns at the time of maturity.

If you also want to save Rs 87 in LIC’s Aadhar Shila scheme and collect Rs 11 lakh. In this series, let us understand this mathematics of investment thoroughly – If you save Rs 87 daily and invest Rs 31,755 in this scheme annually. In such a situation, the amount deposited by you in ten years will be Rs 3,17,550.

When the policy holder attains the age of 70 years. In this case, he will get a total of Rs 11 lakh. If you invest in LIC’s Aadharshila plan, then you get many great benefits in it. In this scheme, if the policyholder dies untimely. In such a situation, payment is made to the nominee. Loan benefit is also available in LIC’s Aadharshila scheme. Women aged 8 to 55 years can invest in this scheme of LIC.

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LIC Aadhar Shila Policy is a non-linked individual life insurance policy designed for women. As part of this policy, a fixed payment is made to the insured person on maturity. In case of his untimely demise, the family is provided financial assistance.

LIC is known for its low-risk, consumer-oriented policies with a variety of options to suit financial goals and needs. LIC Aadhar Shila policy also helps policyholders earn up to Rs 11 lakh on a nominal investment of Rs 87 per day.

How to make Rs 11 lakh by investing less than Rs 100?

If a woman at the age of 55 deposits at least Rs 87 every day for the next 15 years, the total contribution of that woman at the end of the first year will be Rs 31,755.

Over a period of ten years, the accumulated amount will be Rs 3,17,550 and finally, on reaching the age of 70 years, the policy holder will be entitled to receive a total of Rs 11 lakh.

Minimum age to take the policy?

Under LIC Aadhar Shila Policy, the minimum entry age for the policy is 8 years, while the maximum age limit is 55 years. Investors can go for a minimum policy term of 10 years and a maximum policy term of 20 years.

Maximum maturity age is 70 years. A person who is willing to invest in it can invest a minimum of Rs 75,000 to a maximum of Rs 3 lakh.

Policy Benefits

• If the insured person survives for the entire period for which the policy is taken, he becomes eligible to receive the maturity benefit. On maturity, the policyholder can reinvest the lump sum amount in a new policy.
• Death benefit is available in this policy. In case of untimely demise of the insured person, the death benefit is given to the nominee of the policy.
• Policyholders can apply to surrender their policy after completing two consecutive policy years. On surrender of the policy, the Guaranteed Surrender Value payable should be equal to the total premium paid during the policy term.
• The investor can also get the benefit of loan after receiving the policy surrender value.
• The premium for the payment term is considered equal to the policy term and can be paid in annual, monthly, quarterly or half yearly mode.

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At the same time, people also get different types of benefits from the schemes given through LIC. However, now LIC has suffered a shock. A fine has been imposed on LIC and this fine has been imposed on LIC by GST. Let us know about it…

Fine imposed on LIC

The Goods and Services Tax (GST) authority has imposed a penalty on Life Insurance Corporation of India (LIC) for underpayment of tax. This is a fine of Rs 36844 which has been imposed on LIC. The insurance company gave this information on Wednesday. LIC told the stock exchange that it has received a communication/demand order for collection of GST along with interest and penalty for Jammu and Kashmir.

LIC

According to the notice dated October 9, 2023 from the State Tax Officer, Srinagar, LIC paid 12 percent GST instead of 18 percent on some bills (invoices). The tax authority has issued demand order and penalty notice for 2019-20. In this, GST is Rs 10,462, penalty is Rs 20,000 and interest is Rs 6,382. LIC said that this has not affected the financial, operational or other activities of the corporation.

Share Market

Let us tell you that LIC is a listed company in the stock market. The 52 week high of LIC shares on NSE is Rs 754.25. Whereas the 52 week low price of LIC shares is Rs 530.05. Along with this, on October 11, the share price of LIC was seen trading at around Rs 636.

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LIC operates many types of schemes. Here you can start investing to secure the future of your children and also to financially secure your retirement life. Today we are going to tell you about a very wonderful scheme of LIC. The name of this scheme is LIC Jeevan Akshay Policy. If you are planning your retirement.

In this situation you can start investing in LIC’s Jeevan Lakshya policy. By investing in this scheme you are getting many great benefits. Let us know about it in detail – LIC’s Jeevan Akshay Plan is a special type of single premium policy. In this you have to invest your money only once.

Under this scheme, you start getting payouts from the inception of the policy. The special thing about LIC’s Jeevan Akshay Plan is that the more you invest in it. The more pension you get. You can invest a minimum of Rs 1 lakh in this scheme. To invest, your minimum age should be 30 years. If you invest Rs 35 lakh in this scheme.

In such a situation, you will get a pension of Rs 16,479 every month. The pension amount on quarterly basis is Rs 49,744. The amount of pension on half yearly basis is Rs 1,00,275. Apart from this, you will get Rs 2,03,700 on annual basis. This scheme is quite safe from investment point of view. For this reason many people in the country are investing in this scheme of LIC.

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Money has to be invested only once

You have to invest money once in LIC’s Dhan Vriddhi policy and you will be able to take advantage of this scheme throughout your life. In this, customers get the benefit of life protection as well as savings. Apart from this, investors can exit this plan anytime.

The plan started on June 23

Let us tell you that this plan was started by LIC on 23rd June and this plan will be closed on 30th September. According to LIC. If you are thinking of investing money in an individual, savings and single premium life plan, then this is a great option.

LIC tweeted

Information about this has been given by LIC by tweeting. LIC has written in the tweet that hurry up, the plan is ending on 30 September 2023. LIC’s Dhan Vriddhi plan is a protection and saving plan. For more information about this plan, you can contact LIC agent or LIC branch.

Hurry! Plan closes 30th September 2023.

LIC's Dhan Vriddhi offers a combination of protection and savings. To know more contact your LIC Agent/LIC Branch/Visit https://t.co/5q5I7LsemK#DhanVriddhi #LIC pic.twitter.com/NB3NP6IIX5

— LIC India Forever (@LICIndiaForever) September 25, 2023

Loan will be available on LIC Dhan Vriddhi policy

Loan facility is also provided by LIC on this plan. You can avail the loan after completion of 3 months of taking the plan.

What is the specialty of this plan –

LIC Dhan Vriddhi Plan is for 10, 15 and 18 years.
To invest in this plan, your age should be at least 90 days i.e. 3 months to 8 years.
In this plan, you are also getting the benefit of tax exemption up to Rs 1.5 lakh under 80C.
LIC gives a minimum guaranteed return of Rs 1,25,000 in Dhan Vriddhi Plan.
It also gives a lump sum amount to the insured person along with a guarantee on maturity.

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In such times, only pension comes in handy, but it is necessary to arrange for it after joining the job. If we tell you to deposit money today and get a pension of Rs 1 lakh fixed every year, then there will be no need to reach out to anyone else for your needs in old age.

LIC’s Jeevan Shanti plan is very popular among all the pension plans available in the market. Because, by investing lump sum money in this, you can be free from the worry of old age. Let us know the features related to LIC’s New Jeevan Shanti plan and the terms and conditions related to buying the policy.

Pension starts only after 1 year of investment.

LIC has prepared the new Jeevan Shanti plan keeping in mind the needs related to pension in old age. The special thing is that this is a deferred annuity plan, in which you can decide the pension amount at the time of investing and you start getting pension every month only after a fixed period of at least 1 year.

Features of New Jeevan Shanti Plan:

Any person in the age group of 30 years to 79 years can invest in LIC’s New Jeevan Shanti Plan. There is no maximum limit on investment in this. Since it is a deferred annuity plan, there is an option to receive pension after a period of 1 to 12 years after investing in it. The special thing is that in this scheme, there is a facility to get pension in both single life and joint life, that is, if you want, you can buy New Jeevan Shanti Plan in your name or in the name of yourself and your spouse. After this both husband and wife will get pension. There is no risk protection in this plan, so if the policyholder dies during this period, the money deposited in his account along with some additional amount goes to the nominee.

Up to 14 percent interest

is available from 6 to 14 percent interest in the New Jeevan Shanti Plan of Life Insurance Corporation of India. At the same time, there are 4 options for getting pension, these include annual, half-yearly, quarterly and monthly options. Suppose you are 55 years old and you deposit 11 lakh rupees lump sum in New Jeevan Shanti Yojana and want to get pension after 5 years i.e. from the age of 60 years, then you will get more than 1 lakh rupees pension every year.

On the other hand, if you want it in half yearly, then 49911, 24701 in quarterly and 8149 rupees pension is included in every month. The minimum investment in this policy is Rs 1.5 lakh while there is no maximum limit.

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In this series, today we are going to tell you about a very wonderful scheme of LIC. The name of this scheme of LIC is New Jeevan Shanti Plan. If you want to secure your life after retirement financially. In such a situation, this scheme of LIC is a great option for you. Many people in the country are investing in this scheme of LIC to secure their future. In this episode, let us know in detail about LIC Jeevan Shanti Plan –

You can invest a minimum of Rs 1.5 lakh in LIC’s Jeevan Shanti Plan. The limit of maximum investment amount has not been fixed.

People from 30 years to 79 years can invest in LIC’s New Jeevan Shanti plan. According to LIC if the purchase price of an individual is 5 lakhs or more. In such a situation, he is given annuity of higher amount.

You get two options in this scheme of LIC. The first in this is Deferred Annuity For Single Life . There is another Deferred Annuity For Joint Life .

If you invest a minimum of Rs 1.5 lakh in this scheme of LIC. In this case, your pension of Rs 1,000 will be fixed. And if you invest Rs 10 lakh. In this case, your pension amount of Rs 11,192 will be fixed every month. This is a great plan by LIC to secure the future.

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Today we are telling you about one such policy of LIC which has been specially designed to provide financial security to senior citizens after retirement. The name of this insurance policy is LIC New Jeevan Shanti Policy.

Know about LIC New Jeevan Shanti Policy?

LIC New Jeevan Shanti Policy is an annuity plan that can be purchased through a single premium. This is a non-linked, non-participating and single premium annuity plan. The biggest advantage of investing in this policy is that you can get a pension of up to Rs 1 lakh on an annual basis. This is a policy that provides pension for a fixed period. If you are also thinking of investing in this policy, then we are telling you about its details.

What is the investment limit?

The age for investing in this pension policy of LIC has been fixed between 30 years to 79 years. In this policy you do not get the benefit of any risk cover in the policy. You can invest in this policy in two ways. The first is Deferred Annuity for Single Life (Single Annuity Plan) and the second is Deferred Annuity for Joint Life (Joint Annuity Plan). In single plan only you will get the benefit of pension. At the same time, two people will get the option of investing in joint.

What is the calculation of pension?

In this pension scheme, you can get pension after 1 to 12 years by investing single premium. Whereas in the case of deferred annuity, you start getting pension benefits immediately after paying the premium. According to LIC calculator, if you invest Rs 10 in this policy at the age of 30 for a period of 5 years, then you will get a pension of Rs 86,784 after five years.

And in a period of 12 years, you will get Rs 1,32,920 as pension on annual basis. At the age of 45, on an investment of Rs 10 lakh, an annual pension of Rs 90,456 will be received after five years and Rs 1,42,508 after 12 years. If a policyholder dies, the entire amount will be given to the nominee.

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Under life insurance of Life Insurance Corporation (LIC), if the sum assured is not received by the insurer for about 3 years or more, then it is called unclaimed amount. Its calculation is done on the basis of the maturity date of the policy, the date from which the policyholder has stopped paying premiums, or the date of death of the policyholder.

How to check unclaimed amount

Go to the official website of LIC https://licindia.in/.
Go to the Online Services tab and select the Unclaimed Amount option.
Provide your policy number and date of birth.
Login to your account, and you will be able to see your unclaimed amount.
If any problem persists, visit LIC branch office or contact customer care service.

How to claim amount

To receive the unclaimed amount, the policyholder has to submit a form along with the required documents. The documents you will need are policy documents, premium receipt and death certificate (if applicable). You can get the form from LIC office or you can also download it from the official website. It is necessary to submit the form with proper documents. Only after this will further action be taken and the insurance company will release the unclaimed amount.

In some situations, the nominee is not aware of this type of policy or the required documents. The nominee should be aware of the policy, and the policyholder should always keep the nomination policy updated.

What happens if you don’t claim?

If you choose not to claim the amount, the company usually invests these unclaimed amounts in government securities or other approved investments and credits the same to the Unclaimed Amounts Account. The amount will remain in the account until the policyholder or his legal heir makes a claim and the amount is paid.

There are also cases of lack of information or documents

In some cases, the policyholder has forgotten about the policy or is unaware of the existence of an insurance policy. It may also happen that they are not aware of the required documents or, in some cases, they may not have the required documents at all. There are also cases where the policyholder dies without making a claim or without selecting a nominee. Therefore, it is always suggested that you keep visiting the official website and always update your policy.

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Will get pension after retirement

The biggest feature of this scheme of LIC, specially designed for pension, is that money will have to be deposited only once and after retirement, pension will be available for life. The plan number of LIC’s New Jeevan Shanti plan is 858.

Keep these things in mind while buying the plan

Many times one has to leave the job before retirement, in which case the income source ends. Keeping this problem in mind, LIC’s New Jeevan Shanti plan has been prepared. This is an annual plan. In this, you can decide your pension on the basis of investment. While taking which you can decide the pension amount. You start getting pension every month after a regular interval of at least one year.

LIC scheme rules

This is a single premium plan, which means you have to invest only once. After investing, you can get pension in a period of 1 to 12 years. You can get a monthly pension of more than Rs 11000 on an investment of 10 lakhs in the scheme. Interest is available in this scheme from 6.81 to 14.62%. In this, both single and joint get the service of getting pension.

These people can buy the plan

Anyone between the age of 30 years to 79 years can invest in LIC’s plan. The special thing is that you can surrender this plan anytime. There is no maximum investment limit in this. If the policyholder dies during this period, the money deposited in his account goes to the nominee. There is no risk cover in this plan.

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The biggest feature of this plan of LIC specially prepared for pension is that it has to be deposited only once and after retirement, pension will be available for life. The plan number of LIC’s New Jeevan Shanti Yojana is 858. Let us know the features and terms and conditions of this scheme.

While buying the plan, choose from when you want pension.

Due to some reason one has to take premature retirement in the job, in such a situation the source of income ends. Keeping this type of problem in mind, LIC’s New Jeevan Shanti Plan has been prepared. This is a deferred annuity plan, which you can fix the pension amount at the time of taking it. After a regular interval of at least one year, you start getting pension every month.

Key Features of LIC New Jeevan Shanti Plan

• This is a single premium plan, which means you have to invest only once.
• Deferred Annuity Plan (option to get pension after a period of 1 to 12 years after making the investment)
• Option to receive pension amount yearly, half-yearly, quarterly and monthly
• Monthly pension of more than Rs 11000 is available on investment of 10 lakhs
• Interest from 6.81 to 14.62% in this plan
• Facility to get pension in both single life and joint life

Minimum and maximum age of entry

Any person between 30 years to 79 years can invest in this plan. The special thing is that you can surrender this plan anytime. There is no maximum investment limit in this. If the policyholder dies during this period, the money deposited in his account along with some additional amount will be given to the nominee. Please tell that there is no risk cover in this plan.

Investment advisor Sweety Manoj Jain says that due to loss of employment during the Corona epidemic, many people had to face financial difficulties, as the income had ended at that time. Such problems can come at any time in life, so it is important that every person invests in such pension plans, so that they do not have to face financial crunch in difficult times.

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Significantly, due to lack of information, many women are unable to invest their savings in any good schemes. In this episode, today we are going to tell you about a wonderful scheme of LIC. The name of this scheme of LIC is Aadhaar Shila Plan. A large number of people in the country see LIC as a safe investment option. For this reason, instead of investing in any other schemes, most people invest their money in LIC. In this episode, let us understand about the maths of investment in which you can collect Rs.11 lakh by saving Rs.87.

For this you have to save Rs 87 daily. In this case, a total of Rs 31,755 will be collected with you in a year. If you invest in LIC Aadharshila plan continuously for ten years. In this case, your total Rs 3,17,550 will be deposited in the scheme.

The maturity period of LIC Aadhaar Shila plan is 70 years. In such a situation, by investing in this scheme, you can collect around Rs 11 lakh at the time of maturity. Women aged 8 to 55 can invest in this scheme of LIC.

In this plan of LIC, the minimum sum assured has been fixed at Rs 75 thousand. Whereas the maximum sum assured is Rs 3 lakh. The minimum policy term of this scheme is 10 years. And the maximum age limit has been fixed at 20 years.

Apart from this, many other great facilities are available in this scheme of LIC. If women want to invest their money in a good scheme. In such a situation, this scheme can prove to be a good option for you.

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We are talking about such a policy of LIC, which guarantees you pension every month. The special thing is that you have to invest only once in this and with this you start getting pension. The name of this policy is LIC Saral Pension Plan.

The age limit for the scheme is 40-80 years.

A person from the age of 40 years to the age of 80 years can buy this LIC Saral Pension Scheme, which guarantees pension throughout life. You can take this scheme alone or together with husband and wife. In this, the policyholder is also given the facility to surrender anytime after six months from the date of commencement of the policy. On the other hand, in the case of death benefit, if the policyholder dies, the investment amount is returned to his nominee.

Popular as a retirement plan,

LIC Saral Pension, which gives fixed pension every month, is also seen as a retirement plan in a way. Actually, this scheme fits perfectly in post-retirement investment planning. Suppose any person has recently retired. If he can invest the money received from PF fund and gratuity received during retirement in it. Then he will continue to get the benefit of pension every month for the rest of his life.

There is no maximum investment limit

in LIC Saral Pension Plan, you can buy an annuity of at least Rs 12,000 annually. There is no limit on maximum investment, you can get pension according to your investment. In this screen, any person can get pension on yearly, half-yearly, quarterly or monthly basis after paying the premium once under this plan. He can buy annuity from this lump sum investment. According to LIC Calculator, if any 42-year-old person buys an annuity of Rs 30 lakh, then he will get Rs 12,388 as pension every month.

Loan facility also available

In this pension policy of LIC, loan facility is also provided to the policyholder. Policyholders can also take a loan after six months under Saral Pension Yojana. Another special thing in this simple pension scheme is that the amount of pension you start getting, you will continue to get the same amount throughout your life. To buy this plan online, you can visit LIC’s official website www.licindia.in.

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Life Insurance Corporation of India has launched several schemes to meet the post-retirement needs of the policyholders. These plans provide you financial security after your retirement. One such plan is the LIC Saral Pension Plan. The policyholder has the option to choose the annuity type from the 2 available options at lump sum payment. Annuity rates are guaranteed at the inception of the policy.

The main objective of Saral Pension Yojana is to make the policy customer-friendly which helps in making an informed choice. Creation of trust between the insurer and the insured. To create uniformity and reduce misuse of the scheme.

Eligibility Criteria under LIC Saral Pension Plan

• Minimum age at the time of entry is 40 years (completed).
• Maximum age at entry is 80 years (completed).
• No limit on maximum purchase price.

Policy Term Whole Life Policy

• Minimum Annuity for Monthly: Rs.1000
• For Quarterly: Rs. 3000
• Half Yearly: Rs. 6000
• for Annual: Rs. 12000

Features of LIC Saral Pension Plan

It is a non-participating, single premium, non-linked, immediate annuity plan. This plan comes with two annuity options. In joint life policy, 100% of the annuity is paid to the spouse in case of death of the spouse. However, in case of death of both, 100% of the purchase price will be given to the nominee. The policyholder can choose the frequency of annuity payment as per his/her convenience. LIC offers annual, half-yearly, quarterly and monthly modes of annuity payment under Saral Pension Plan.
If the spouse or the annuitant or any of their children is diagnosed with a critical illness, the policy can be surrendered at any time after 6 months from the date of inception. The insured person can take a loan against it after 6 months from the inception of the plan.

Benefits of LIC Saral Pension Plan

Death Benefit

Under single-life annuity, 100% of the purchase price is paid to the nominee after the death of the policy holder. If the spouse is alive, they will receive equal annuity amount on the death of the annuitant. In case the spouse also dies, 100% of the purchase price will be given to the nominee.

Loan Benefit

Loan under LIC Saral Pension Plan is allowed only after 6 months from the date of inception of the policy. The annual interest amount paid should not exceed 50%.

If the policyholder is not satisfied with the terms and conditions of the policy, the policy may be returned to the company within 15 days (30 days if the policy is purchased online) from the date of receipt of the policy documents mentioning the reasons for objections.

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If you are also going to buy any scheme of LIC, then today we are telling you about such a scheme, in which after depositing only Rs 87, you can earn a profit of up to Rs 11 lakh. This scheme has been specially made keeping women in mind. Whose name is Aadharshila Scheme (Lic Aadhaar Shila Plan (844) Details).

Let’s know the special things related to LIC Aadhaar Shila Plan  – only 87 rupees

will have to be deposited daily

• If you also want to deposit lakhs of rupees under LIC’s foundation stone scheme by taking very good profit for women, then deposit Rs.87 daily. This small savings can fetch you huge funds.
• Only investors from 8 years to 55 years can apply in the scheme.
• This is a non-linked, individual life insurance scheme for women.
• The maturity period under the Aadharshila scheme ranges from 10 years to 20 years.
• After the death of the insured, the benefit of the policy is provided to the family.
• Women can invest in the scheme on monthly, quarterly, half yearly or yearly basis.
• The investment limit is also fixed. Only up to three lakh rupees can be invested.
• Financial security will be achieved in old age through the scheme.
• If you invest only Rs 87 daily, then Rs 31,755 will be accumulated in a year. On the other hand, an amount of Rs 3,17,550 will be deposited if invested continuously for ten years.
• You can take advantage of this amount even in old age. If you are a woman, you can make yourself empowered in your old age by investing in this foundation stone scheme.

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The name of this policy of LIC is Dhan Varsha Yojana. No much money has to be invested in this and you can start investing from a young age. The special thing is that you can take huge advantage in this scheme and you can get very good results from it.

In this, you can get a profit of up to 10 times, you can save in it for a long time. Along with this, you can also take advantage of the benefits of life insurance, for this you will have to pay the premium only once. LIC’s Dhan Varsha Plan Arik is a non-participating, individual, savings, life insurance plan. This scheme provides both protection and savings to the customers.

Who can take advantage?

If you want to plan up to 15 years then its minimum age is 3 years and for 10 years the minimum age is 8 years. Only after turning 35, you can get a 15-year policy with 10%.

How can I buy the policy?

You can invest in this scheme at a very young age. LIC Dhan Varsha Policy is a non-participating, personal, single premium and a savings insurance plan. You cannot buy it online, it can be bought offline only.

Nominee gets the money, you have to go to LIC office and apply for this policy there. In this, you have to pay the premium only once, if the policyholder dies, then the fund money is given to his family or nominee.

How to get 91 lakh?

If the policyholder dies in the 10th policy, then the nominee will get Rs 91,49,500. This plan also gives a guaranteed amount on completion. If you start investing at a young age, you can get bumper returns later by depositing Rs 10 lakh.

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This policy is a premium term policy in which you have to pay the premium only till the time you have to run the policy. The most special thing about this plan is that in this you can create a fund of 25 lakhs by saving not much but very little money. So let’s know, we are giving information about the policy (Jeevan Anand Policy Details).

Through this policy, you can save a good amount of money for the future. By the way, many options are available in the market to make big funds by investing less. But before investing in any scheme, you must review all of them. It is necessary to do this because some schemes are such that not only does your money grow over time, but you also get some additional benefits.

Investing is very easy

Investing in this policy is very easy. If you also want to invest in this scheme, then you must have government documents. If you have Aadhaar card and bank account, then you can apply in this scheme without any tension.

Save 45 rupees daily

To invest in this policy, you will have to save 45 rupees i.e. 1358 rupees every day. With this small savings, you can create a fund of Rs 25 lakh on maturity. For this you have to invest in long term. For this, you can choose the maturity period up to 35 years. Apart from depositing Rs 1358 every month or Rs 45 every day, you can also deposit Rs 16,300 annually. By depositing this amount in this scheme for 35 years, you will get Rs 25 lakh on maturity.

You will get these benefits.

In this policy, the benefit of death benefit and rider benefit is also available. If a policyholder dies before maturity, then in such a situation the nominee of the policyholder will get the death benefit of up to 125%. In this scheme, you get the minimum sum assured of Rs 1 lakh. There is no maximum limit in this policy.

On the other hand, in Rider Benefit, you get the benefit of Accidental Death and Disability Rider, Accident Benefit Rider, New Term Rider, New Term Insurance Rider and New Critical Illness Benefit. You do not get any kind of tax exemption by investing in this scheme.

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The best thing is that this will not affect your job as well, and if your income starts getting good then you can do this work full time also. Actually you have to join LIC as an insurance agent. This work can be done both part time and full time. There is neither any limit to work nor there is any limit to earning. LIC agent’s earning comes from getting a good commission on insurance. If you want to become an agent of LIC, then you must have intermediate certificate.

That is, even a normal 12th pass person can increase his earnings many times by becoming an agent of LIC. To become an agent, you have to provide 4 color passport size photographs, age proof, education proof, PAN card and Aadhaar card details as documents.

35% commission, income will increase every year

LIC gives its insurance agents a maximum commission of up to 35 percent on a policy. Although it decreases every year. If you get an insurance policy with a premium of Rs 10,000. So in the first year you will get 35 percent of it as commission i.e. Rs.3500. After this, on depositing the premium of the policy in the second year, you will get 7.5 percent commission i.e. Rs.750.

On the other hand, after this, for the number of years the policy will run, you will get a commission of 5 percent of the premium every time i.e. 500 rupees. One of the advantages of becoming an agent of LIC is that your one policy gives you continuous income for the next 10 to 15 and 20 years.

If you do a new LIC policy every year in the right way, and your old policy is also renewed on time, then your income increases every year. However, the agent’s commission on LIC’s policy is decided according to the type of policy.

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Commission is decided according to the policy

LIC mainly sells two types of policy plans. There is an endowment plan and the other is money back plan. LIC agent gets a maximum commission of 35 percent of the first premium on some special policies. While up to 25 percent commission is available on new endowment plans, term plans, health insurance plans and child plans. At the same time, LIC also gives a commission of 2 percent to the agent on the pension plan.

This is how you can earn 84,000 per month

If you understand this math, then to earn Rs 84,000 per month as an LIC agent, you will have to sell at least 2 policies on every weekend. Means you have to sell 1 policy every day in 8 days of the weekend. If the commission of 35 percent of the first premium is considered as income, then you will have to bring a business of at least Rs 2.4 lakh in a month to LIC i.e. premium.

On this, you will get a direct income of Rs.84000 as premium. If you make it up to Rs 3 lakh, then your income will cross Rs 1 lakh.

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This plan is available to any employer with 50 or more employees. Explain that apart from this scheme, LIC also offers 11 group products and a group accident benefit rider to its customers.

LIC Group Post Retirement Medical Benefit Scheme

LIC Group Post Retirement Medical Benefit Scheme is a non-linked, non-participating, life, group savings insurance product. According to LIC, under this scheme, employees will be able to take advantage of medical benefits after retirement. This scheme helps in fulfilling the responsibility of the employer related to the medical benefits of the employees.

Life cover benefit

The plan also provides a fixed life cover benefit (Sum Assured) to the employees. Any employer who wants to fund the benefit of their employees can apply for this scheme.

LIC said in a regulatory filing, “Pursuant to Regulation 30 of the Securities and Exchange Board of India Regulation 2015, you are informed that the Corporation has announced the launch of its new product on May 02, 2023.”

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What is LIC Jeevan Shanti Policy?

LIC Jeevan Shanti Policy is the best option to get a fixed amount as pension after retirement. Lifetime monthly pension is available after investing in this policy. With this, any person can easily meet his expenses after retirement.

LIC Jeevan Shanti One Single Premium Plan

LIC Jeevan Shanti is a single premium plan. Means you have to invest only once in this and in return you will get monthly pension. You can choose two types of options in LIC Jeevan Shanti policy. First Immediate Annuity and second Deferred Annuity.

Know how and how much pension will be received?

In LIC Jeevan Shanti policy, if a 45-year-old person invests Rs 10 lakh in a lump sum and wants pension after 5 years, then he will start getting a pension of Rs 95,300 annually with 9.53% interest. On a monthly basis, it works out to Rs 7,941. On the other hand, if you start taking pension after 10 years, you will get Rs 133,800 annually with an interest rate of 13.38%. In this context, your monthly pension will be around Rs 11,150.

Who can take LIC Jeevan Shanti Policy

Please tell that a person from the age of 30 years to 79 years can take this policy. This is a non-linked plan. Loan facility is also available in this single premium deposit pension plan. Loan can be taken in this scheme after 1 year of commencement of pension. It can also be surrendered after 3 months from the commencement of pension.

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If you want to invest in LIC’s plan, then LIC has come up with a SIIP, a unit-linked insurance plan for the customers. Which gives investment opportunities with insurance protection. It provides high returns to the policyholders. Allows to choose equity and debt fund option based on risk appetite.

This plan can provide coverage to the family of the insured in any type of situation. This policy can help investors build their savings into a huge corpus fund.

To take advantage of LIC SIIP policy, the age of the policyholder should be at least 90 days i.e. 3 months and the maximum age should be 65 years. The policy term ranges from 10 to 25 years with a minimum sum assured of 10 times the annualized premium for customers below 55 years of age and 7 times for those above 55 years of age.

Multiple benefits are available-

LIC SIIP offers multiple benefits to the policyholders, which include death and maturity benefits as well as guaranteed benefits. If the life assured dies before the commencement of risk, the beneficiary will receive an amount equal to the Unit Fund Value. In case of death after commencement of risk, the beneficiary can choose to receive the Unit Fund Value.

Keep these things in mind-

– There are four fund options to choose from in LIC SIIP. Free switch between funds, add-on rider benefits to enhance the coverage of the policy and tax exemption under the Income Tax Act. The customer can also make a partial withdrawal after completing five policy years.

There are two optional benefits of LIC SIIP. An Accidental Death Benefit rider option and partial withdrawal facility. The Basic Sum Assured of the policy cannot exceed the Accidental Death Benefit Sum Assured. If you want to make a partial withdrawal, you can withdraw money in the form of a fixed amount or a fixed number of units.

LIC SIIP offers four fund options to choose from namely Bond Fund, Secured Fund, Balanced Fund and Growth Fund. The investment pattern of these funds varies depending on the type of security they invest in and the risk-weight of their portfolio.

If a policyholder invests Rs 50,000 in the Balanced Fund option of LIC SIIP for ten years, the rate of interest will be 10% and after ten years the total fund value will be Rs 9,39,700.

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LIC Housing Finance Limited ( LIC HFL ) has increased its interest rates on Cumulative Public Fixed Deposit with effect from April 12, 2023. After the revision, HFL is offering interest rates ranging from 7.25% to 7.75% on deposits of 1 year to 5 years.

Cumulative Public Deposit

LIC Housing Finance Limited has increased the interest rates on its Cumulative Public Deposit . These rates are being offered for deposits of Rs 20 crore and above and deposits under the scheme are available for tenures of 1 year, 18 months, 2 years, 3 years and 5 years. So let’s know the interest rates available under it.

Interest rates offered by LIC HFL

Interest rates for deposits below Rs 20 crore-

• 1 year: 7.25%
• 18 months: 7.35%
• 2 years: 7.60%
• 3 years: 7.75%
• 5 years: 7.75%

Interest rates for deposits above Rs 20 crore-

• 1 year: 7.25%
• 18 months: 7.25%
• 2 years: 7.50%
• 3 years: 7.75%
• 5 years: 7.75%

Non-Cumulative Public Deposit interest rate

Interest rates for non-cumulative public deposits up to Rs 20 crore-

Monthly option

• Monthly Option for 1 Year Deposit: 7%
• Monthly option for 18 months deposit: 7.10%
• Monthly Option for 2 Year Deposit: 7.35%
• Monthly Option for 3 Year Deposit: 7.50%
• Monthly option for 5 years deposit: 7.50%

Annual option

• Annuity option for 1 year: 7.25%
• Annuity option for 18 months: 7.35%
• Annuity option for 2 year deposit: 7.60%
• Annuity option for 3 years deposit: 7.75%
• Annuity option for 5 years deposit: 7.75%

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In which after investing, you will not have to worry about money for the rest of your life. LIC’s Saral Pension Scheme arranges for lifelong pension on paying the premium only once. After taking this policy, the pension you will get for the first time, the same pension will be available for the whole life.

After investing in it, you do not even need to wait for the age of more than 60 years for pension. In this policy only at the age of 40 years you start getting the benefit of pension. You can take pension every month, every three months, every 6 months or once in 12 months. So let’s know about it in detail…

Will get two options

There are two options to take this scheme. The first is single life in which the policy will be in the name of any one. On his death, the amount of base premium will be given to the nominee. Another option is joint life. In this, both the spouses are covered. First the primary pensioner will get the pension and after his death the pension will be given to his spouse. If both of them die, then after their death, the amount of base premium will be received by their nominee.

Who will get how much pension?

People of minimum 40 years and maximum 80 years can take advantage of this scheme. In this, you will have to take a minimum of Rs 1,000 per month or an annual pension of Rs 12,000. For this you have to invest 2.5 lakhs. There is no limit on taking maximum pension in this. You can get a pension of Rs 50250 every year by paying a single premium of Rs 10 lakh. Remember that you must be 40 years old here.

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If you like to invest in LIC’s policy. So you can get good returns by investing in this scheme of LIC. Because at present there are many types of options available for investment in India, but millions of people in the country rely on the investment of post office, LIC schemes. LIC is the largest and oldest insurance company in the country with lakhs of customers across the country.

LIC keeps bringing many types of schemes for the people of every region of the country. Many schemes are designed only for children. Telling you about such a policy, which you can buy to remove the stress related to your children’s school education. This scheme is called LIC Jeevan Tarun Policy.

LIC’s Jeevan Tarun plan is a non-linked limited premium payment plan. This LIC money-back plan gives the benefit of both protection and savings to the children. LIC Jeevan Tarun plan was specially created for children to take care of their growing financial and educational needs.

This is how the stress of parents will go away

To invest in LIC’s Jeevan Tarun plan, the child’s age should be at least 3 months and maximum 12 years. You can invest fully in this policy till the youth turns 20 years old. After the child turns 25, he can claim the total amount. Due to this, the stress of the parents regarding the expenses of the child’s college and marriage goes away.

Will get 7 lakhs on maturity

If a person buys this policy for a child at the age of 12 years and pays a small premium of Rs 150 per day, the annual premium would be close to Rs 54,000. In this case, in 8 years you will deposit Rs 4.32 lakh. In this, 2.47 lakh rupees will be given as bonus. In this scheme, by the age of 25, your child will become the owner of about 7 lakh rupees.

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Because of which people are very fond of investing in Mutual Funds. You can get better returns by doing small SIP in mutual funds. If you also want to improve your portfolio, then investing in Mutual Fund Scheme can be a very good option.

Today we are telling you about such a mutual fund scheme, which has given its investors a fund of more than 10 lakhs on SIP of 10,000 in the last three years. This mutual fund is Quant Small Cap Fund Direct Plan.

Investors got bumper returns

Many financial experts keep advising people to invest in mutual funds. Quant Small Cap Fund has given investors a return of 64.5% in the last 3 years under the direct plan. A monthly investment of Rs 10,000 in this fund grows to around Rs 10.9 lakh in three years. Done. On the other hand, the regular plan of the scheme has given a return of 62.19 per cent in three years. Due to which the monthly SIP of Rs 10,000 increases to approximately Rs 10.4 lakh.

Top Stock Holdings

Top Stock Holdings in the Fund’s Factsheet for April 2023 are Reliance Industries, ITC, HDFC Bank, Jindal Stainless, RBL Bank, IRB Infrastructure, Punjab National Bank, Bikaji Foods International, Usha Martin and Just Dial This Small Cap Fund The top 10 stocks held are. Quant Small Cap Plan has allocated 15.3% of its capital to banks, followed by petroleum products (6.52%), pharmaceuticals (5.86%) and construction (5.78%).

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It offers protection as well as savings. This plan of LIC is a non linked plan. In this, at least Rs 1 crore assured sum is guaranteed. Sum assured is the amount that the customer will definitely get from an insurance company.

This plan has been designed for people with high income. If a policyholder dies before maturity, then in such a situation his family gets financial help. It is also a money back plan in a limited premium, in which you get money from time to time. The maximum investment age in the policy is 55 years (policy term 14 years), 51 years (policy term 16 years), 48 years (policy term 18 years) and 45 years (policy term 20 years).

How much will be invested

in Jeevan Shiromani policy, the basic sum assured is one crore rupees. For this, the customer will have to invest for four years. After that the returns will start coming. Talking about the investment amount, the customer will have to deposit around Rs 94,000 every month.

In this policy, the facility of payment during a fixed period has been given in case of survival of the policyholders. Apart from this, a lump sum amount is also given on maturity. The plan also provides cover for critical illnesses and has 3 optional riders available.

These are Survival Benefit: Survival Benefit means a fixed payment is made on the survival of the policy holders, which is as follows: –

– 30% of the Sum Assured in the 10th and 12th years in a 14-year policy.
– 35% of the Sum Assured in the 12th and 14th years in a 16-year policy.
– 40% of the Sum Assured in the 14th and 16th years in an 18-year policy.
– 45% of the Sum Assured in the 16th and 18th years in a 20-year policy.

How much loan will be available

During the policy term, the customer can take a loan based on the surrender value of the policy, which will be available on the basis of LIC’s terms and conditions. The policy loan will be available at the rate of interest decided from time to time.

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It provides high returns to the policyholders. Allows to choose equity and debt fund option based on risk appetite. This plan can provide coverage to the family of the insured in any type of situation. This policy can help investors build their savings into a huge corpus fund.

To take advantage of LIC SIIP policy, the age of the policyholder should be at least 90 days i.e. 3 months and the maximum age should be 65 years. The policy term ranges from 10 to 25 years with a minimum sum assured of 10 times the annualized premium for customers below 55 years of age and 7 times for those above 55 years of age.

Get many benefits

LIC SIIP offers a host of benefits to the policyholders, which include death and maturity benefits as well as guaranteed benefits. If the life assured dies before the commencement of risk, the beneficiary will receive an amount equal to the Unit Fund Value. In case of death after commencement of risk, the beneficiary can choose to receive the Unit Fund Value.

keep these things in mind

1. There are four fund options to choose from in LIC SIIP. Free switch between funds, add-on rider benefits to enhance the coverage of the policy and tax exemption under the Income Tax Act. The customer can also make a partial withdrawal after completing five policy years.
2. LIC SIIP has two optional benefits. An Accidental Death Benefit rider option and partial withdrawal facility. The Basic Sum Assured of the policy cannot exceed the Accidental Death Benefit Sum Assured. If you want to make a partial withdrawal, you can withdraw money in the form of a fixed amount or a fixed number of units.
3. LIC SIIP offers four fund options to choose from namely Bond Fund, Secured Fund, Balanced Fund and Growth Fund. The investment pattern of these funds varies depending on the type of security they invest in and the risk-weight of their portfolio.
4. If a policyholder invests Rs 50,000 in the Balanced Fund option of LIC SIIP for ten years, the rate of interest will be 10% and after ten years the total fund value will be Rs 9,39,700.

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31st March Deadline: This policy is LIC’s Pradhan Mantri Vaya Vandana Yojana and Dhan Varsha policy. PM Vaya Vandana Yojana is a pension scheme in which you will get the benefit of fixed pension by investing.

Under PM Vaya Vandan Yojana, you can invest from Rs 1.5 lakh to Rs 15 lakh. Senior citizens will get a monthly pension of Rs 1,000 after investing Rs 1.5 lakh. At the same time, on investing a maximum of Rs 15 lakh in this, you will get a monthly pension of Rs 9,250. Keep in mind that if both husband and wife invest Rs 30 lakh, then they will get a pension of Rs 18,300.

Whereas LIC’s second policy is Dhan Varsha Plan. By investing in it, you get two types of options.

In one you get 1.25 times return. Whereas in the second option, you will get a return of up to 10 times. In this policy, you do not have to pay premium again and again. This is a gender premium policy.

It is worth noting that the deadline for both Pradhan Mantri Vaya Vandana Yojana and Dhanvarsha policy will end on March 31. LIC has not extended both these policies. In such a situation, there is a last chance to invest in both.

You can buy both the policies both offline and online. To buy online you can visit LIC’s official website www. Visit licindia.in. Whereas offline you can also buy it from any LIC branch.

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It is a non-linked, non-participating, individual saving life insurance plan that offers guaranteed bonuses. Investors can earn Rs 50 lakh on maturity by investing up to Rs 5 lakh in this policy. This is ten times the amount deposited.

One of the most important features of this policy is that it requires a shorter premium payment time frame, and investors are also guaranteed to receive bonuses on maturity. The policyholder should have a minimum sum assured of Rs 5 lakh. And the minimum age to invest in this scheme is 90 days, while the maximum age is 55 years. Investors can pay their installments on monthly, quarterly, half-yearly or yearly basis as per their convenience.

This policy is available in three options

The policy term is available in 15, 20 and 25 year options, with premium payments being made for shorter terms depending on the term (time frame) selected. For example, investors opting for a 15-year term would pay premiums for 11 years, while investors opting for a 20-year term would pay premiums for 16 years, and those opting for a 25-year term They have to pay the premium for 21 years.

By investing in this policy, customers can get substantial returns, earning around Rs 9,00,000 on Rs 5 lakh invested for 15 years. The minimum monthly premium for investors is Rs 5,000, which equates to a savings of approximately Rs 166 a day.

Investors can calculate themselves

LIC Bima Ratna policy is a better investment option for those who are looking for guaranteed bonus and good return on investment. With its short premium payment term, investors can easily calculate the bonus they will get on maturity, making it a convenient and secure option for savings and investment.

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Crores of people of the country have invested in the schemes of Life Insurance Corporation of India (LIC), the country’s largest government insurance company. LIC is also very famous because it has schemes for people of all ages and provides both safety and savings. One such policy is Jeevan Labh Yojana, this non-linked policy gives a lump sum amount to the policyholder after maturity. The special thing in this is that by taking a plan of 25, you can get Rs 54 lakh on maturity by saving just Rs 253 daily.

This scheme of LIC (LIC Scheme) is also considered safe because the full account of premium is not dependent on the share market. In this, on the death of the policyholder, the benefit is given to the nominee. If you are also planning to take a policy, then investing in Jeevan Labh scheme can prove to be a profitable deal. To get an amount of Rs 54 lakh on maturity, you will have to buy this policy for 25 years.

According to this, after saving Rs 253 daily, you will deposit around Rs 7,700 every month and around Rs 92,400 every year and a total of around Rs 20 lakh in paying all the premiums. There you will get Rs 54 lakh in lump sum.

This is the age limit for taking the policy

The age limit for taking LIC’s Jeevan Labh policy has been fixed at 18 years minimum and 59 years maximum. If a person takes this policy on a policy term of 21 years, then his age should be less than 54 years at the time of taking the policy. For a policy term of 25 years, the age limit of the person should be 50 years. The maximum age limit for maturity of the policy has been kept at 75 years.

Features of LIC Jeevan Labh

If the policyholder dies due to any reason during the term of the policy, then the nominee gets the benefit. Along with the bonus, the insurance company also gives the benefit of the sum assured to the nominee. Death benefit is considered to be the biggest plus point of this policy. In this, the sum assured is returned on the death of the policyholder, provided the policy has not broken and all the premiums have been paid.

In this Jeevan Labh policy, on the death of the policyholder, the sum assured is available at seven times the annual premium. This death benefit cannot be less than 105% of all premiums paid till the date of death. Along with this, it will not include any tax or any additional amount imposed for the policy.

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It is being claimed in the media reports that the Indian Banks’ Association (IBA) is going to consider the demands of bank unions for holidays and working days in a week. If this rule is accepted then the bank employees will get great relief.

Work burden on bank employees

In fact, the issue of work burden on bank employees is repeatedly raised by bank unions. In view of this, they are demanding work for 5 days a week. According to media reports, IBA is considering the model of bank employees working 5 days a week and two days off.

Right now there are six weeks off in a month. It is being said that if this is implemented, the employees will get Saturday and Sunday off, while their working hours will increase by 5 days. They will have to work 40 minutes more everyday. According to media reports, after the new model is implemented, bank employees may have to work from 9.45 am to 5.30 am.

Let us tell you that now the employees get 6 days of week off in a month, while after the new model is implemented, they will get 8 days of week off. At present, apart from four Sundays in the bank, there is a holiday on the second and fourth Saturdays. This also creates a bit of confusion among the customers.

Two week offs are also being given by LIC

Tell that the government insurance company LIC is also giving two days week off to its employees. Before listing last year, LIC had implemented a model of working 5 days a week. After this the bank unions intensified their demands in this regard.

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Let us tell you, LIC’s Dhan Varsha policy, which gives the strongest returns, is going to close soon. Yes, you read it right, actually LIC has informed that it is discontinuing its Dhan Varsha policy. In such a situation, if you have invested in this policy, then it is very important to know that what is the last date of this scheme? So let us tell you when the LIC Dhan Varsha policy will be closed.

What is the last date of Dhan Varsha Yojana?

Let us tell you, this policy will run till this quarter i.e. March 31, 2023. After that it will end. The special thing about this policy is that it is a single premium policy. To know more about its features, read this article completely.

How LIC Dhan Varsha Plan Works

LIC Dhan Varsha Plan is a non-linked, individual, savings and single premium insurance plan that offers both savings and protection. The plan provides death benefit in case of untimely death of the policyholder. The plan also eliminates the need to pay premiums again and again. There are two investment options in this scheme.

Investment options

Under LIC Dhan Varsha plan, the investor can invest in two ways. The first option is investment can get the benefit of 1.25 times the premium amount. During this, his nominee will get Rs 10 lakh as death benefit on a single premium deposit of Rs 12.5. In the second option, investors get returns of up to ten times the premium amount. With a single premium deposit of Rs 10 lakh, the investor can get a return of Rs 1 crore on death.

Return on maturity

If the policyholder survives till the maturity of the plan, he gets the benefit of Guaranteed Additions along with the Basic Sum Assured. These guaranteed returns are credited to the policy at the end of every year and are given to the policyholder at maturity.

Policy Specification

LIC Dhan Varsha plan can be bought for ten or fifteen years. The policy can be purchased both online and offline, and the minimum age requirement to purchase the policy is three years, with a maximum age of 60 years for a term of 15 years. While the minimum age to buy a policy for ten years is eight years, the maximum age is 40 years.

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It is necessary to link PAN card with the policy (PAN link with LIC policy). Please tell that the government has extended the last date for linking PAN and Aadhaar to 31 March 2023. Market regulator SEBI has also set a similar rule and has asked investors to link their PAN with Aadhaar. Similarly, LIC has also been asked to link with PAN.

Government of India was issuing deadline for linking Aadhaar-PAN card for a long time. Even after this, many people did not link their PAN card with Aadhaar card. Even if you have not yet linked the policy with PAN, then you can do it online from home. Let us know its steps…

1. Provide PAN information along with the list of policies on LIC’s site.
2. Now enter your mobile number. An OTP will come on that mobile number from LIC, enter it.
3. After the form is submitted, you will get the message that the registration request is successful.
4. Now you will know that your PAN has been linked with the policy.

Check policy status sitting at home

>> To know the online status of LIC policy, first of all you have to visit the official website https://www.licindia.in/. To know the status here you have to register.
>> You do not have to pay any kind of charge for registration. For this you have to enter your date of birth, name, policy number. Once you have registered, you can check your status anytime.
>> If you want any information, you can also call on 022 6827 6827. Apart from this, you can also send a message by writing LICHELP <policy number> to the number 9222492224. Your money will not be deducted for sending messages in this.

How to get information through SMS

>> You can also get information about the status of the policy by sending SMS from mobile. For this you have to send SMS to 56677.
>> If you want to know the premium of the policy, then you can send SMS by typing ASKLIC PREMIUM to 56677.
>> If the policy has lapsed, then for this SMS will have to be typed ASKLIC REVIVAL.

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There is no danger of money sinking in this. At the same time, by investing just a few rupees every month, you can build up a substantial bank balance till maturity. Today we are going to tell you about one such scheme. In which you can make good savings by depositing small amounts. This scheme is of LIC.

LIC keeps taking out policies for people of different ages ranging from women. LIC schemes are a popular option for Indians to save money after savings linked schemes provided by banks and post offices. People prefer to invest in LIC’s schemes. Let us tell you about this plan.

Know which is the scheme

Life Insurance Corporation of India (LIC) has schemes for every section of the society. This is the reason why it is the market leader in the insurance sector. LIC Aadhaar Shila Policy is a good plan for low and middle income group. Its minimum amount is Rs 75000 and maximum Rs 3 lakh. You can set aside a modest amount per day to invest in LIC Aadhaar Shila. This is a long term investment like most LIC policies.

It also gives death cover to the individual. If a person invests Rs 58 every day, he will get lakhs of rupees at the time of maturity. The Sum Assured on Death is seven times the Annualized Premium and 110% of the Basic Sum Assured. The minimum age for entry into this scheme is 8 years and the maximum is 55 years. The term of the policy is 10 to 20 years.

In this way you will get 8 lakh rupees on maturity

This scheme is exclusively for women. The minimum plan term is between 10 to 20 years. The maximum age for maturity is 70 years. There is also a loyalty addition feature. The premium has to be paid in monthly, quarterly, half-yearly and yearly mode. If you are 20 years old and invest at the rate of Rs 58 every day, you will invest Rs 21918 annually. After 20 years your invested amount will be Rs 429392. At the time of maturity you will get Rs 794000.

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LIC keeps on introducing new policies from time to time. Today we will tell you about LIC’s money saving policy (LIC Dhan Sanchay Policy). In this policy, you get many tremendous benefits along with guaranteed returns.

LIC Dhan Sanchay Plan is a non linked, non participating, individual saving life insurance plan, which works to provide the facility of life insurance cover along with savings. Under this policy, in case of death of the policyholder, financial assistance is provided to the family during the policy term. It provides guaranteed income benefit during the payout period from the date of maturity and it also provides guaranteed terminal benefit along with the last installment of guaranteed income benefit.

How much is the term of wealth accumulation policy?

Wealth accumulation policy can be taken for a period of 5 to 15 years. The policyholder also gets the facility of loan in this policy. Along with this, you can also avail riders by paying extra. In case of death of the policyholder during the policy term, the death benefit is given to the family of the policyholder.

4 options for investment in the plan You are given 4 options in this plan. A sum assured of Rs 3,30,000 is given under Plan A and B, a minimum sum assured cover of Rs 2,50,000 under Plan C and a sum assured of Rs 22,00,000 under Plan D.

What is the minimum age to invest?

The minimum age to take the policy should be 3 years. At the same time, the maximum age limit varies according to the plan. The maximum age for Plan A and B is 50 years, 65 years for Plan C and 40 years for D.

You can buy this policy for 5, 10 and 15 years for the number of years you pay the premium, the number of years you earn. For the number of years the premium is paid, there is income for the same number of years later. The minimum premium under this policy is Rs 30,000 annually.

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But, he wants to have assured income in his old age and wants to spend his old age peacefully without any worries. LIC has invited customers to buy the new Jeevan Shanti plan with revised rates.

The country’s largest insurance company LIC has increased the annual rates of ‘New Jeevan Shanti Yojana’ (Plan No. 858). New Jeevan Shanti plan is a single premium plan of the company.

Enhanced new rates applicable from this day

LIC said the plan with enhanced annuity rates will be available for sale from January 5, 2023. At the same time, the incentive for higher purchase price has also been increased. It ranges from Rs.3/- to Rs.9.75 per Rs.1000/- depending upon the purchase price and the moratorium period selected.

LIC New Jeevan Shanti Plan Minimum Annuity

• Monthly minimum annuity: Rs.1000 per month
• Minimum quarterly annuity: Rs.3000 per quarter
• Half yearly minimum annuity: Rs.6000 per half year
• Annual minimum annuity: Rs.12000 per year.
• New Jeevan Shanti Scheme Payment Method

According to LIC, the payout of New Jeevan Shanti plan is payable half-yearly, quarterly and monthly. Annuity will be payable in arrears i.e. after 1 year, 6 months, 3 months and 1 month from the date of vesting of annuity, depending on whether the mode of annuity payment is yearly, half-yearly, quarterly Or not. Annuity rates are guaranteed at policy inception, and annuities are payable when the deferment period expires for the remainder of the annuitant’s life.

Plan available in two options

LIC’s New Jeevan Shanti plan is available to the customers in two options. One is deferred annuity for single life and the other is deferred annuity for joint life. However, while taking the scheme, keep in mind that the annual option once chosen cannot be changed.

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According to the new rules implemented, now only some center employees will be eligible for House Rent Allowance. Actually, the Central Government provides the facility of house rent to its employees to live in a rented house, but now the Ministry of Finance under the Central Government has made some updates in the rules of HRA. This change has been made by the Department of Expenditure (DoE) of the Ministry of Finance.

These are the new rules

According to (DoE), the House Rent Allowance (HRA) rules for government employees have been updated. As per the updated rules, a government servant will not be eligible for HRA in certain cases. As per the new rule in force, an employee will not be entitled to HRA if he shares a government accommodation allotted to another government employee. That worker will not get the house rent of the government.

Further, as per the new rule, if an employee is staying with his parents/son/daughter in the accommodation allotted by the Central, State Government, Autonomous Public Sector Undertaking and Semi-Government organization like Municipality, Port Trust, Nationalized Bank, LIC etc. If he is living together then he too will not get the house rent.

Husband wife will not get house rent even at government residence

If the spouse of a Government Servant resides in the same station as the Government Servant in accommodation provided by any of the above institutions or separately, he/she shall not be entitled to HRK. In this situation, the government will not give house rent to that employee.

Housing allowance is available in three categories

The central government is for salaried people who live in rented houses and is divided into three categories for housing related expenses. These three categories are X, Y and Z. The ‘X’ category is for areas with a population of 50 lakhs and above. As per the recommendation of the Seventh Central Pay Commission (CPC), HRA is given at 24%. In ‘Y’ category, the government provides 16 per cent house rent for areas with a population between 5 lakh and 50 lakh. While in the ‘Z’ category, the government provides 8 percent house rent in areas with a population of less than 5 lakhs.

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After the Union Budget 2023, the fitment factor of the salary of government employees is expected to change. The fitment factor is a common value, which is calculated by multiplying the basic pay of the employees by their total salary. After this increase, the minimum wage of the employees will increase from Rs 18,000 to Rs 26,000.

How much will be the salary?

The common fitment factor currently stands at 2.57 per cent. This means that if a person gets a basic pay of Rs 15,500, then his total salary will be Rs 15,500*2.57 or Rs 39,835. The 6th CPC has recommended the fitment ratio to remain at 1.86 per cent.

Now according to reports, the employees are demanding the government to increase the fitment factor to 3.68 per cent. With this, the minimum pay for central government employees will increase from Rs 18,000 to Rs 26,000. Unions and employee associations have been demanding an increase in the fitment factor for many years. They say that despite the increase in DA, an increase in basic salary is necessary because the salary increases on this basis.

The government also changed these rules

Let us tell you that the Finance Ministry has recently changed the rules related to House Rent Allowance (HRA) for central government employees. According to the new rules, government employees will not be eligible for HRA in certain cases. The first rule is that if the employee shares the Government accommodation allotted to another Government employee, he will not be eligible for the same.

Apart from this, if the parent, son or daughter of the employee has been allotted a house by any of them and he is living in it. These include Central or State Government, Public Sector Undertaking and Semi-Government Organization like Municipal Corporation, Port Trust, Nationalized Bank, LIC etc.

Apart from this, if the spouse of the government employee has been given a house by any of the units mentioned above. And even if he is living in that house or living on a separate rental, he will not qualify. At the same time, central employees are expecting an increase in DA. The decision to increase the DA for the second half has not yet been taken, whereas as a rule it should happen.

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Please tell that LIC is a name of trust in a way. Even today, crores of people of the country prefer to invest money in LIC and Post Office. And LIC also never disappoints its customers. Under LIC’s Aadhaar Shila plan (LIC Aadhaar Shila), the customer will also be able to save money and will also give good returns. Also, on Maturity, the customer will immediately return their money. Under this scheme, even after the death of the policyholder, all the money is given to the nominee.

The specialty of Aadhaar Policy

• LIC Aadhaar Shila Yojana is specially designed for women.
• The minimum policy term is 10 years and the maximum is for 20 years.
• The maximum age of this plan maturity is 70 years.
• If the policy holder (LIC India) dies after 5 years of taking the policy, then in this situation the family will get the facility of Loyalty Addition on Maturity.
• A lump sum amount will also be received at the end of the policy term.
• Under the scheme, you will be able to invest Minimum 75000 rupees and Maximum 3 lakh rupees.
• There is an option to make premium payment of this plan on monthly, quarterly, half yearly or yearly basis.

This is how you will get big amount

Suppose, at the age of 30, you deposited Rs 58 every day for 20 consecutive years in this scheme, then a total of Rs 21918 will be deposited in your first year. On which you also have to pay tax at the rate of 4.5 percent. Then in the second year you will have to pay Rs 21446. In this way, you will deposit this premium on a monthly, quarterly, half-yearly or yearly basis. You will deposit Rs 429392 for 20 years on paying every year’s premium. After this, at the time of maturity, you will get a total of Rs 794000.

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Income Tax: If your salary package is 10 lakh rupees and you pay a large part of your earnings in the form of tax, then be careful. Perhaps you would think that there is no way to save tax, in such a situation, if it is right to pay tax, then you are wrong. Not only this, even if your salary package is 10.5 lakh rupees, even then you will not have to pay 1 rupee as tax. Let’s know the complete maths…

The post Income Tax Big News: Tax of Re 1 will not have to be paid even on earning of 10 lakhs, Know full details first appeared on Rightsofemployees.com.

However, its benefit will be available only to those policyholders who have taken the plan on or after January 5. LIC also said that the purchase price for the New Jeevan Shanti plan has also been increased. Now policyholders can get an incentive of Rs 3 to Rs 9.75 per purchase price of Rs 1,000. However, the incentive is based on the purchase price and the deferment period chosen . LIC has given information about the change in this plan through a statement.

What is LIC’s New Jeevan Shanti Plan?

After retirement, people’s means of earning often ends, but the expenses of common life keep on increasing. This plan of LIC ensures a source of income for post-retirement life. LIC’s New Jeevan Shanti Scheme ( LIC New Jeevan Shanti Scheme ) is an annuity plan, that is, while taking it, your pension amount will be fixed. In this you will get the facility of pension every month.

There are two options for the plan

This is a single premium plan. You get two types of options in LIC’s New Jeevan Shanti Scheme. Policyholders can choose between Single Life and Joint Life Deferred Annuity. In the first option, you can buy a pension scheme for an individual.

In Deferred Annuity for Single Life when a policyholder dies. The nominee will get the money deposited in his account. If the policyholder survives, he starts getting pension after a certain period of time. In Deferred Annuity for Joint Life, if one person dies, the other gets the facility of pension. At the same time, after the death of both the persons, the money of the policy is given to the nominee .

New Jeevan Shanti Plan offers guaranteed annuity rates at the inception of the policy.

How much money will you get for 10 lakh rupees

The minimum purchase price in this plan is Rs 1.5 lakh. In this, you will get a minimum annuity of Rs 12,000 per year. However, there is no limit for the maximum purchase price.

According to the plan, in case of deferred annuity for single life, you can get a monthly pension of Rs 11,192 by purchasing a policy for Rs 10 lakh. You can get a monthly pension of Rs 10,576 on deferred annuity for joint life. The amount of annuity may vary on a case to case basis. For more information, you can contact LIC’s website.

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The name of this scheme of LIC is New Jeevan Shanti Yojana. By investing in it, you get the facility of lifelong pension after retirement. After retirement, often people’s source of income ends, but the expenses of normal life increase your burden. In such a situation, the Life Insurance Corporation of India ie LIC keeps coming up with different types of pension plans. LIC’s New Jeevan Shanti Scheme (LIC New Jeevan Shanti Scheme) is an annuity plan, that is, while taking it, your pension amount will be fixed. In this, you will get the facility of pension every month.

LIC has increased the annuity rates for the new Jeevan Shanti plan. LIC says that the revised version of this plan with increased annuity rates will be available for sale from January 5, 2023. The incentive for the higher purchase price has also been increased. It ranges from Rs 3 to Rs 9.75 or Rs 1000 depending on the purchase price and deferment period selected.

Press Release – LIC of India modified New Jeevan Shanti (Plan No. 858)#LIC pic.twitter.com/xBzwAaeyHR

— LIC India Forever (@LICIndiaForever) January 5, 2023

There are two options

You get two types of options in LIC’s New Jeevan Shanti Scheme. The first option is Deferred Annuity for Single Life. And the other is Deferred Annuity for Joint Life. In the first option, you can buy a pension scheme for one person.

On the death of one, the other will get pension 

In Deferred Annuity for Single Life when a policyholder dies. The nominee will get the money deposited in his account. If the policyholder survives, he starts getting pension after a certain period of time. In Deferred Annuity for Joint Life, if one person dies, then the other gets the facility of pension. At the same time, after the death of both the persons, the money that remains of the policy. It is given to the Nominee.

Understand the method of payment 

As per this scheme, the mode of payment is half-yearly, quarterly and monthly. Annuity will be payable in arrears i.e. after 1 year, 6 months, 3 months and 1 month from the date of vesting of annuity depending on whether the mode of annuity payment is yearly, half-yearly, quarterly or No. The annuity rates are guaranteed at the inception of the policy and the annuity is payable when the deferred period is over.

Understand the special things at a glance 

• The minimum plan price of New Jeevan Shanti Scheme is Rs 1.5 lakh.
• You can invest at least Rs 1.5 lakh in this scheme.
• There is no limit on the maximum investment in this scheme of LIC.
• You can get the pension on yearly, 6 months, 3 months or monthly basis as per your requirement.
• If you invest Rs 1.5 lakh, you get a lifetime pension of Rs 1000 every month.
• On an annual basis, a pension of Rs 12,000 will continue to be available throughout life.

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They do not have regular income, which can meet their daily expenses like salary. LIC Jeevan Saral is one such plan. In this, the investor has the option to choose the amount from premium payment. In this, investors can invest from 40 years to 80 years of age.

LIC Saral Jeevan Plan

Most of the employed people look for such investment options for themselves, by investing in which they can get money like regular income even after retirement. Here we are telling you about such a simple pension scheme of LIC. According to the LIC website, LIC Jeevan Saral plan is an annual plan based on the norms set as per the guidelines of the Insurance Regulatory and Development Authority of India (IRDA). In this, the investor has to deposit money in one go.

You can buy the policy from here

LIC has said that this plan can be purchased offline as well as online through LIC’s website www.licindia.in. Life Annuity with 100% Return of Purchase Price This pension is for single life, i.e. this pension scheme will be linked to a single person.

so much pension

In LIC Saral Jeevan plan, the investor gets a monthly pension of Rs 12,000 and has to pay a one-time premium. The policyholder can opt for Monthly, Half Yearly, Quarterly and Yearly. In this policy, the pension starts after the policy is purchased. If a person invests Rs 10 lakh, he will get a pension of Rs 52,500 per year.

Must have these documents

The policy buyer will have to provide address proof and KYC documents along with medical details. Medical tests will also be done.

The post LIC Launched New Pension Plan: You will get Rs 52,000 pension every year, premium will have to be paid just once, know details first appeared on Rightsofemployees.com.

This scheme was started by the central government on 26 May 2020. Couples can invest till 31 March 2023 to take advantage of this scheme. If both husband and wife want, then after the age of 60, they can take advantage of it. Know about the complete plan.

What is Vaya Vandana Yojana?

Pradhan Mantri Vaya Vandana Yojana is a social security scheme. Under which the beneficiary will get monthly pension. It has been brought by the Government of India, while this scheme is being operated by Life Insurance Corporation of India (LIC).

If both husband and wife have crossed the age of 60 years, then they can invest a maximum of Rs 15 lakh. Earlier the investment limit was Rs 7.5 lakh, which was doubled later. Compared to other schemes, senior citizens get more interest in this scheme. People of 60 years or above can choose this pension plan.

This is how you will get monthly pension of Rs 18500

If both husband and wife want to take advantage of this scheme, then both will have to invest an amount of 15 lakh rupees in the Pradhan Mantri Vaya Vandana Yojana, that is, a total of 30 lakh rupees. 7.40 percent annual interest will also be available on this scheme.

Accordingly, the annual interest on the investment will be Rs 222000. If it is divided in 12 months, then an amount of Rs 18500 is formed, which you will get as monthly pension. There is also a plan in this scheme that only one person can invest in this scheme. If you invest Rs 15 lakh, then the annual interest will be Rs 111000 and his monthly pension will be Rs 9250.

Full amount back in 10 years

This plan is for 10 years. Monthly pension will continue to be received on your deposited money. If you remain in the scheme for 10 years then after 10 years your invested money will be returned to you. You can surrender this scheme at any time.LIC Pension Scheme: Pradhan Mantri Vaya Vandana Yojana is being run by the Modi government. Under which monthly pension is guaranteed. This scheme was started by the central government on 26 May 2020. Couples can invest till 31 March 2023 to take advantage of this scheme. If both husband and wife want, then after the age of 60, they can take advantage of it. Know about the complete plan.

What is Vaya Vandana Yojana?

Pradhan Mantri Vaya Vandana Yojana is a social security scheme. Under which the beneficiary will get monthly pension. It has been brought by the Government of India, while this scheme is being operated by Life Insurance Corporation of India (LIC).

If both husband and wife have crossed the age of 60 years, then they can invest a maximum of Rs 15 lakh. Earlier the investment limit was Rs 7.5 lakh, which was doubled later. Compared to other schemes, senior citizens get more interest in this scheme. People of 60 years or above can choose this pension plan.

This is how you will get monthly pension of Rs 18500

If both husband and wife want to take advantage of this scheme, then both will have to invest an amount of 15 lakh rupees in the Pradhan Mantri Vaya Vandana Yojana, that is, a total of 30 lakh rupees. 7.40 percent annual interest will also be available on this scheme.

Accordingly, the annual interest on the investment will be Rs 222000. If it is divided in 12 months, then an amount of Rs 18500 is formed, which you will get as monthly pension. There is also a plan in this scheme that only one person can invest in this scheme. If you invest Rs 15 lakh, then the annual interest will be Rs 111000 and his monthly pension will be Rs 9250.

Full amount back in 10 years

This plan is for 10 years. Monthly pension will continue to be received on your deposited money. If you remain in the scheme for 10 years then after 10 years your invested money will be returned to you. You can surrender this scheme at any time.

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According to sources, this change of LIC can be of great benefit to the customers. Explain that there is a provision in the proposed bill that if any applicant can register and apply for one or more categories of insurance business of any category.

If any company has a composite license, then in this situation it can offer both general and health insurance services through the same company. For this, they will not have to do separate insurance. According to the agency, in the event of the passing of the LIC Insurance Amendment Bill, the composite license and all other issues related to insurance will be considered keeping in mind the Life Insurance Corporation Act, 1956.

At the same time, re-insurance companies are prohibited from getting registered for any other category of insurance business. Composite licensing will enable insurance companies to offer general and health insurance services through a single entity. It is believed that to amend the Insurance Act 1938 and the Insurance Regulatory and Development Authority Act, 1999, this bill can be tabled in the budget this year. The Finance Ministry is currently planning to make major changes in the insurance law.

Customers will get good returns

The Finance Ministry is planning to make large-scale changes in the insurance law to promote the policyholders and keeping in mind their interests. With this, apart from getting good returns to the policyholders, new employment opportunities will also be created in the market, which will also boost economic growth. At present, there are 24 life insurance companies and 31 non-life or general insurance companies operating in the country.

The post LIC Rules Change: LIC is going to make big changes in these rules in the new year first appeared on Rightsofemployees.com.

Income Tax Saving: Form-16 has been issued by the companies. The last date for filing ITR has been fixed by the Income Tax Department as July 31. In such a situation, if you are also thinking of paying tax on income of 10 lakh rupees, then you are wrong.

The post Income Tax Big News! Tax of Re 1 will not have to be paid even on earning of 10 lakhs, Know full details first appeared on Rightsofemployees.com.

Income Tax Saving: Form-16 has been issued by the companies. The last date for filing ITR has been fixed by the Income Tax Department as July 31. In such a situation, if you are also thinking of paying tax on income of 10 lakh rupees, then you are wrong.

The post Income Tax Big News : Tax of Re 1 will not have to be paid even on earning of 10 lakhs, Know full details first appeared on Rightsofemployees.com.

Income Tax Saving: Form-16 has been issued by the companies. The last date for filing ITR has been fixed by the Income Tax Department as July 31. In such a situation, if you are also thinking of paying tax on income of 10 lakh rupees, then you are wrong.

The post Income Tax Big News! Tax of Re 1 will not have to be paid even on earning of 10 lakhs, Know full details first appeared on Rightsofemployees.com.

But there are many such pension schemes from which individuals get benefits. Such as Old Age Pension Scheme, Widow Pension Scheme, and National Pension Scheme Scheme. But in all these pension schemes individuals have to wait for a very long time. Under all these pension schemes, the facility of pension is provided to the individuals at the age of 60 years.

But if we talk about the best pension scheme among all these pension schemes, then it can go to Saral Pension Yojana. You must be thinking that what is the name of the scheme, then we will provide you a brief description about it.

LIC Saral Pension Yojana

The name of this pension scheme brought by LIC is Saral Pension Yojana. Let us tell you that it comes in the list of a single premium pension plane. In this, a type of premium is required to be paid for taking the policy. As we have told above that in the coming pension schemes, pension facility is provided only after the age of 60 years. But there is no such circumstance under this pension scheme. Let us tell you that a great film has been launched by Life Insurance Corporation (LIC). Under this, by depositing the amount, you will be provided pension facility only from the age of 40 years.

Know more about Saral Pension Yojana

About this scheme of Life Insurance Corporation LIC, we have told you in the east that the name of this scheme is Saral Pension Yojana. It is also a single premium pension plan. Under which you need to pay premium only once at the time of taking the policy. Thereafter, you continue to get pension for the rest of your life. And on the death of the pensioner, the single premium amount is returned and given to his nominee.

Let us tell you that Saral Pension Yojana is an immediate annuity plan. Meaning you will start receiving pension only at the time of taking the policy. After taking this policy, the amount of pension you will start getting will be provided to you for the whole life.

How to take Saral Pension Yojana

Saral Pension Yojana 2022 Details: If you are interested in this pension scheme, then you can join this scheme mainly in two ways.

Single Life:- Under this, there is a policy in the name of any one. As long as the pensioner is alive, he continues to get pension under this scheme, but when he dies, the amount of his base premium is returned to his nominee.
Joint Life:- Under this, both the spouses have coverage. As long as the primary pensioners are alive, they will continue to get pension. After his death, his life partner will continue to get pension for the rest of his life. If he dies, his best premium is handed over to his nominee.

Know who can take advantage of Saral Pension Yojana

To take advantage of this scheme, the minimum age limit has been fixed at 40 years and the maximum age limit has been fixed at 80 years. Because it is a whole life policy under which the pensioner gets whole life pension till he is alive. Saral Pension Policy can be surrendered anytime after 6 months from the date of commencement.

Till when can I get pension

From when to take the pension, this decision would have been taken by the pensioner only. In this, four options are provided to the equality pension holders. in which

Pension can be taken every month
Can be received after every 3 months
Pension can be taken after every 6 months
Pension facility is available even after 12 months

You have to get pension by selecting any one of these options.

How much pension will be provided up to Rs.

To get pension, you have to take care of a special thing that how much you get a policy under this scheme. That is to say, you have to pay according to the amount of pension you want to get. If you want to take ₹ 1000 pension, ₹ 3000 for 3 months, ₹ 6000 for 6 months, and ₹ 12000 for 12 months is the minimum pension. There is no maximum limit for this.

If the age of the person is 40 years and he has deposited a single premium of ₹ 1000000, then he will be provided ₹ 50250 annually. And let us tell you that he will continue to receive this pension for life. If for any reason the person gets the situation to withdraw the amount in the middle, then the balance amount is returned to him after deducting 5%.

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LIC has many policies keeping in mind the personal needs of the people. Very little money is needed to invest in them. One such plan of LIC is Jeevan Labh (LIC Jeevan Labh Policy). This is a limited premium paying non-linked, with profit endowment plan. This plan provides financial support to the family in case of unfortunate death of the policyholder at any time before maturity and by creating a substantial corpus to the surviving policyholder.

What is LIC Jeevan Labh Policy?

LIC’s Jeevan Labh plan is to pay premiums for a limited period of time. This is a non-linked plan from the stock market. Means, its money is not invested in the stock market. If the insured dies before the maturity of the plan, then this plan gives money i.e. security to the family. If the insured is alive till the maturity of the policy, then his money is received.

Benefits of LIC Jeevan Labh

If the life assured is alive till the maturity of the plan, he/she is given full Sum Assured along with Reversionary Bonuses and Final Additional Bonus together. The insured can pay the premium for a time period of 10, 13 and 16 years. They will get money on maturity after 16 to 25 years. The minimum age for taking LIC Jeevan Labh policy is 8 years and the maximum age is 59 years. A person aged 59 years will get only insurance with maturity of 16 years. So, that the age of the insured at the time of maturity does not exceed 75 years.

Will get Rs 54.50 lakh on maturity

If you are 25 years old and you buy LIC Jeevan Bima Labh policy for a maturity period of 25 years, you will get Rs 54.50 lakhs on maturity. For this, you will have to pay around 20 lakh rupees in 25 years for basic insurance. That is, you will have to pay a premium of around Rs 92,400 annually. This is around Rs 260 per day. After this you will get Rs 54.50 lakh on maturity.

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So we tell you about a scheme of LIC where you can make a good profit by investing. We are talking about LIC SIIP where it is considered good to invest. For years, people have been considering investing in LIC as safe. You must be at least 90 days old and not more than 65 years old to enter the policy.

Under this scheme, you will have to invest about 10 lakh rupees for 21 years and you will get a profit of about 35 lakhs, that is, after the scheme matures, you can get 45 lakh rupees. Know here the important information related to this scheme.

Know everything about it

Systematic Investment Insurance Plan is called SIIP. LICIn the SIIP scheme, you have to invest around Rs 4000 every month. This investment has to be made for 21 years. At Rs 4000 per month, you will invest Rs 48000 in one year and Rs 10,08,000 in 21 years. When this scheme is completed, then you can get a total of 45 lakh rupees. Means after the completion of the scheme, you will get a profit of Rs 34,92,000 i.e. around Rs 35 lakh.

You will get these benefits

>> The plan taker can choose the amount of single premium.

>> The policy taker can choose the amount to be deposited.

>> He also has the facility to choose the Basic Sum Assured at the time of taking the policy.

>> You can buy both these schemes offline as well as online.

LIC’s SIIP

>> LICSIIP is a regular premium, non participating, unit linked, individual life insurance plan that provides investment along with insurance during the term of the policy.

>> Policy takers can choose the premium amount payable that they want to pay. Guaranteed Additions as a percentage of annualized premiums will be added to the Unit Fund under an in force policy, on completion of the specified policy term. The premium and guaranteed additions allocated as per the allocated fund type will be used to purchase the units.

>> The minimum premium payable is Rs.40000 (for annual mode) with no maximum premium limit.

>> On completion of the policy, an amount equal to the Unit Fund Value will be given. After completion of five years of the policy, some money can also be withdrawn as per the terms of the policy.

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Income Tax Saving: Form-16 has been issued by the companies. The last date for filing ITR has been fixed by the Income Tax Department as July 31. In such a situation, if you are also thinking of paying tax on income of 10 lakh rupees, then you are wrong.

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Most senior citizens want to invest their post-retirement money in a place where they can get regular income. Along with this, their investment should also be safe. Pradhan Mantri Vaya Vandana Yojana, a well-known scheme of the Modi government, has been made keeping in mind the needs of senior citizens. Both husband and wife can invest in this scheme together. Both husband and wife will get a pension of Rs 18,500. Let’s know about this plan..

Pradhan Mantri Vay Vandana Yojana – Husband and wife will get Rs 18,500

The Modi government launched this scheme on 4 May 2017 keeping in mind the needs of senior citizens. This scheme was started to provide social security to senior citizens. LIC is running this scheme for the government. Earlier the limit to invest in it was Rs 7.50 lakh but now it has been increased to Rs 15 lakh.

Get this much interest

In Pradhan Mantri Vaya Vandana Yojana, 7.4 percent interest is available annually. Now people above 60 years of age can invest Rs 15 lakh in it. Both husband and wife can invest in this scheme. If both husband and wife invest Rs 15 lakh each in this scheme at the age of 60, then both of them will get a pension of Rs 18,300. If one of the husband and wife invests Rs 15 lakh, they will get Rs 9,250.

This is the complete calculation

All citizens above the age of 60 years can invest up to Rs 15 lakh. This investment will have to be made before March 31, 2023. In this, depending on the investment, a pension of Rs 1000 to Rs 9250 is available every month. If you invest a minimum of Rs 1.50 lakh, you will get an investment of Rs 1,000 every month. Rs 9,250 per month pension will be available on an investment of Rs 15 lakh. If husband and wife invest, then they will have to invest Rs 30 lakh and then both of you will get Rs 18,500 every month.

You can apply for pension scheme from here

You can get pension at 1 year, 6 months, 3 months and every month. It depends on which plan you have taken. This scheme can be taken both offline and online. You can buy online by visiting LIC’s website. You can also apply offline by visiting the branch of LIC. This plan is for 10 years. If the policyholder dies in the meantime, the basic amount will go to the nominee

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Important news for customers thinking of investing in LIC. LIC, which gives secure returns, keeps on offering tremendous schemes for the customers from time to time. In this sequence, LIC has a special scheme – Jeevan Umang Policy (LIC Jeevan Umang Policy) in which you can get good profits by investing. There are many great features of this scheme. Let’s know about this wonderful policy.

Know what is Umang policy?

Jeevan Umang policy has many features. This scheme is different from other schemes in many respects. People from 90 days to 55 years of age can take this policy. Not only this, it is an endowment plan. In this, along with life cover, a lump sum amount is also available on maturity. Fixed income will come into your account every year after completion of maturity. On the other hand, after the death of the policyholder, his family members and nominee will get a lump sum amount. Another specialty of this scheme is that it provides coverage of up to 100 years.

Will get an amount of 27.60 lakhs

If you pay a premium of Rs 1302 every month in this policy, then in a year this amount is Rs 15,298.
– If this policy is run for 30 years, then the amount increases to about Rs 4.58 lakh.
– On the investment made by you, the company starts giving you a return of 40 thousand every year from the 31st year.
– If you take a return of 40 thousand annually from 31 years to 100 years, you get an amount of about 27.60 lakh rupees.

Term rider also benefits

– Under this policy, investors get another big benefit.
In this policy, term rider benefit is also available in case of death or disability of the investor in an accident.
Not only this, market risk does not affect this policy.
– Yes, but LIC’s profits and losses definitely have an impact on this policy.
Tax exemption is also available on taking this policy under section 80C of Income Tax.
– If someone wants to take a plan of Jeevan Umang Policy (LIC Jeevan Umang Policy), then he will have to take an insurance of at least two lakh rupees.

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The decision to withdraw these plans has come into effect from 23 November. At the same time, New Jeevan Amar and New Tech term plan have been launched. LIC Tech term plan is an online policy whereas LIC Jeevan Amar is an offline policy. According to reports, these plans have been withdrawn due to the rising cost of reinsurance.

What are the benefits of the new plan

New Jeevan Amar and New Tech Term both are term insurance plans. Both the new plans are non linked and non participating plans. That is, the policy holder will have to pay a fixed premium and in return will get guaranteed returns.

Why did you decide to withdraw the old plan

According to sources, these term plans have been withdrawn due to the increase in reinsurance rates. Actually Jeevan Amar plan was launched in August 2019 and Tech term plan was launched in September 2019. Since then till now there has been no change in the premium for these policies.

Although the rates of reinsurance have increased during this period. Actually reinsurance is the process when the company providing insurance policy to the general public covers some part of the policy distributed by it through another insurance company to reduce its risk. Due to which, when the number of claims suddenly increases manifold on occasions like epidemics, the risk on the company remains under control.

What will be the effect on the holders of the old policy

Those who have invested in both these policies will not be affected by this, their policy will continue as before and benefits will be available on the basis of that. According to the sources, not only this, those people who have completed their purchase by November 22 or the proposal and money related to the policy have also been deposited, then the policy will be issued to all those people whose proposals are accepted by November 30.

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If you also want to take advantage of this scheme, then you can apply for this scheme by 31 March 2023. Both husband and wife can take pension under this scheme after the age of 60. Know about this scheme.

What is Vaya Vandana Yojana?

Pradhan Mantri Vaya Vandana Yojana is a social security scheme. Under which there is a provision to give annual, quarterly or monthly pension to the applicant. Let us tell you that the Government of India has brought this scheme and this scheme is operated by the Life Insurance Corporation of India (LIC). Those people who are 60 years or more are eligible in this scheme. Under this scheme, they can invest a maximum of Rs 15 lakh. Let us tell you that earlier only Rs 7.5 could be invested in this scheme, but later this amount was increased to double. In this plan, compared to other plans, senior citizens get more interest.

How to get 51 thousand rupees a year

If both husband and wife want to take advantage of this scheme, then both will have to invest an amount of about Rs. An annual interest of 7.40 percent is also given on this scheme. Accordingly, the annual pension of the investor will be Rs 51 thousand 45. If you want to take this pension monthly, then every month you will get an amount of Rs 4100 as pension.

Will get full money after 10 years

Your investment in this scheme is for 10 years. You will be given annual or monthly pension for 10 years. If you remain in this scheme for 10 years, then after 10 years your investment will be returned to you. You can surrender in this plan anytime.

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But there are many such pension schemes from which individuals get benefits. Such as Old Age Pension Scheme, Widow Pension Scheme, and National Pension Scheme Scheme. But in all these pension schemes individuals have to wait for a very long time. Under all these pension schemes, the facility of pension is provided to the individuals at the age of 60 years.

But if we talk about the best pension scheme among all these pension schemes, then it can go to Saral Pension Yojana. You must be thinking that what is the name of the scheme, then we will provide you a brief description about it.

LIC Saral Pension Yojana

The name of this pension scheme brought by LIC is Saral Pension Yojana. Let us tell you that it comes in the list of a single premium pension plane. In this, a type of premium is required to be paid for taking the policy. As we have told above that in the coming pension schemes, pension facility is provided only after the age of 60 years. But there is no such circumstance under this pension scheme. Let us tell you that a great film has been launched by Life Insurance Corporation (LIC). Under this, by depositing the amount, you will be provided pension facility only from the age of 40 years.

Know more about Saral Pension Yojana

About this scheme of Life Insurance Corporation LIC, we have told you in the east that the name of this scheme is Saral Pension Yojana. It is also a single premium pension plan. Under which you need to pay premium only once at the time of taking the policy. Thereafter, you continue to get pension for the rest of your life. And on the death of the pensioner, the single premium amount is returned and given to his nominee.

Let us tell you that Saral Pension Yojana is an immediate annuity plan. Meaning you will start receiving pension only at the time of taking the policy. After taking this policy, the amount of pension you will start getting will be provided to you for the whole life.

How to take Saral Pension Yojana

Saral Pension Yojana 2022 Details: If you are interested in this pension scheme, then you can join this scheme mainly in two ways.

1. Single Life:- Under this, there is a policy in the name of any one. As long as the pensioner is alive, he continues to get pension under this scheme, but when he dies, the amount of his base premium is returned to his nominee.
2. Joint Life:- Under this, both the spouses have coverage. As long as the primary pensioners are alive, they will continue to get pension. After his death, his life partner will continue to get pension for the rest of his life. If he dies, his best premium is handed over to his nominee.

Know who can take advantage of Saral Pension Yojana

To take advantage of this scheme, the minimum age limit has been fixed at 40 years and the maximum age limit has been fixed at 80 years. Because it is a whole life policy under which the pensioner gets whole life pension till he is alive. Saral Pension Policy can be surrendered anytime after 6 months from the date of commencement.

Till when can I get pension

From when to take the pension, this decision would have been taken by the pensioner only. In this, four options are provided to the equality pension holders. in which

1. Pension can be taken every month
2. Can be received after every 3 months
3. Pension can be taken after every 6 months
4. Pension facility is available even after 12 months

You have to get pension by selecting any one of these options.

How much pension will be provided up to Rs.

To get pension, you have to take care of a special thing that how much you get a policy under this scheme. That is to say, you have to pay according to the amount of pension you want to get. If you want to take ₹ 1000 pension, ₹ 3000 for 3 months, ₹ 6000 for 6 months, and ₹ 12000 for 12 months is the minimum pension. There is no maximum limit for this.

If the age of the person is 40 years and he has deposited a single premium of ₹ 1000000, then he will be provided ₹ 50250 annually. And let us tell you that he will continue to receive this pension for life. If for any reason the person gets the situation to withdraw the amount in the middle, then the balance amount is returned to him after deducting 5%.

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LIC Policy Status : Many schemes are being run by LIC, but today we will tell you about a policy through which you can earn Rs 36000 per month. LIC is also giving investors an opportunity to earn every month. Apart from this, the security of life and the guarantee of Rs.

Resuming plan

The name of this policy is LIC Jeevan Akshay Policy and this scheme is being started once again by the company. Under this policy, you can earn for life by paying installment only once. Jeevan Akshay Policy is a single premium non linked non participating and personal annuity plan.

There is no limit of maximum investment, let us tell you if you want to invest a little money, then you also have the option of pension of Rs 12000 annually. On the other hand, if you have more money to invest in, then you can choose other options. You can earn every month even by investing only 1 lakh rupees. On investing 1 lakh, you will get 12000 rupees every year. At present, there is no maximum investment limit in this scheme.

Who can take advantage of this policy

>> People from 35 years to 85 years can take this policy.
>> Apart from this, disabled people can also take advantage of this policy.
>> In this policy, you can take advantage of the option of getting pension in 10 ways.

How to get Rs 36000 per month To get Rs 36000 per month in this policy, you have to select the option of Annuity payable for life at a uniform rate. In this, you will get a lump sum pension every month. For example- If any 45 years old person takes this plan and opts for Sum Assured option of Rs 70,00,000 then he will have to pay a lump sum premium of Rs 71,26,000. After making this investment, he will get a pension of Rs 36429 every month. Let us tell you that after the death of the person, this pension will stop.

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Income Tax Saving: Form-16 has been issued by the companies. The last date for filing ITR has been fixed by the Income Tax Department as July 31. In such a situation, if you are also thinking of paying tax on income of 10 lakh rupees, then you are wrong.

The post Income Tax Big News : Tax of Re 1 will not have to be paid even on earning of 10 lakhs, Know full details first appeared on Rightsofemployees.com.

Till now you must have heard or seen getting pension in 60 years or more. But now you will not have to wait so long for pension. Life Insurance Corporation (LIC) has launched a great plan, under which you start getting pension even at the age of 40 by depositing a lump sum amount. Let us know about this scheme.

What is Saral Pension Yojana?

The name of this scheme of LIC is Saral Pension Yojana. This is a single premium pension plan, in which premium is to be paid only at the time of taking the policy. After this, you will continue to get pension for the whole life. If the amount of single premium is returned to the nominee on the death of the policyholder. Saral Pension Yojana is an immediate annuity plan, that means you start getting pension as soon as you take the policy. After taking this policy, as much as the pension starts with, the same pension is available for the whole life.

Two ways to take this pension scheme

Single Life- In  this, the policy will remain in the name of any one, as long as the pensioner is alive, he will continue to get the pension, after his death, the amount of base premium will be returned to his nominee.

Joint Life- In  this, both the spouses have coverage. As long as the primary pensioners are alive, they will continue to get pension. After his death, his spouse will continue to get pension for life, after his death the amount of base premium will be handed over to his nominee.

Who can take Saral Pension Yojana?

The minimum age limit for the benefit of this scheme is 40 years and the maximum is 80 years. Since it is a whole life policy, pension is available for the whole life, as long as the pensioner is alive. Saral Pension Policy can be surrendered anytime after six months from the date of commencement.

When will I get the pension?

When will the pension be received, it is for the pensioner to decide. In this you get 4 options. You can take pension every month, every three months, every 6 months or you can take it in 12 months. Whichever option you choose, your pension will start coming in that period.

How much will you get pension?

Now the question arises that how much money you will have to pay for this simple pension scheme, then let us tell you that you will have to choose it yourself. That is, whatever amount of pension you choose, you will have to pay accordingly. If you want pension every month, then you have to take at least Rs 1000 pension, Rs 3000 for three months, Rs 6000 for 6 months and Rs 12000 for 12 months. There is no maximum limit.

If you are 40 years old and you have deposited a single premium of Rs 10 lakh, then you will start getting Rs 50250 annually which will be available for life. Apart from this, if you want your deposited amount back in the middle, then in such a situation you get back the deposited amount by deducting 5 percent.

Can also take loan

If you have a serious illness and need money for treatment, then you can withdraw the money deposited in the Saral Pension Yojana. You are given a list of serious diseases, for which you can withdraw money. On surrendering the policy, 95% of the base price is refunded. The option of taking a loan is also given under this scheme (saral pension plan). You can apply for the loan after 6 months from the start of the scheme.

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