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.

Also Read: IT department warns taxpayers about fake messages and emails

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.

The post How to revive lapsed LIC insurance policy? A step-by-step guide first appeared on Rightsofemployees.com.

If you are planning to buy this policy for 12 to 45 years,

then this policy can prove to be a better option for you. LIC Jeevan Pragati plan offers many great benefits to investors. On one hand, by saving Rs 200 every day, a fund of 28 lakhs can be accumulated, while those who invest in this plan also get risk cover. The minimum age limit for investing in this scheme of LIC has been fixed at 12 years, while the maximum is 45 years.

How can you deposit a fund of 28 lakhs?

People who take this special Jeevan Pragati policy of Life Insurance Corporation of India get lifetime security along with good returns. If we look at the calculation of the fund deposited under this policy, if any policy holder invests 200 rupees every day in this policy, then he invests 6000 rupees in a month. In this way, 72,000 rupees will be deposited in a year. Now if you deposit in this scheme for 20 years, you will invest a total of 14,40,000 rupees. If all the benefits are added, this amount will be 28 lakh rupees.

Also Read: Indian Railway: New passenger train started on this route, check time table

Risk cover will increase every five years.

The specialty of LIC Jeevan Pragati plan is that the risk cover of investors increases every five years. This means that the amount you get increases in five years. In death benefits, after the death of the policyholder, the sum of insurance, simple reversionary bonus and final bonus are paid together.

How does the coverage increase?

The term of Jeevan Pragati policy is minimum 12 years and maximum 20 years. People from 12 years to 45 years can buy this policy. You can pay the premium of this policy on quarterly, half-yearly and yearly basis. The minimum sum assured of this policy is Rs 1.5 lakh and there is no maximum limit. Suppose someone buys a policy of Rs 2 lakh, then its death benefit will remain normal for the first five years. After this, the coverage will become Rs 2.5 lakh for six to 10 years. At the same time, the coverage will increase to Rs 3 lakh in 10 to 15 years. In this way, the coverage of the policyholder will keep increasing.

The post LIC scheme: Deposit 200 rupees daily in this LIC scheme and get 28 lakhs in lump sum! first appeared on Rightsofemployees.com.

The insurance regulatory body said that retail policyholders can cancel the insurance policy at any time during the policy period by informing the insurance company and get a refund for the remaining policy period. Announcing several reforms in the insurance sector, IRDAI said, “If the policyholder cancels the policy, he does not need to give the reason for cancellation.

Insurance regulator IRDAI said, “If the customer cancels the policy, the insurer should refund the proportionate premium for the expired policy term if the policy term is up to one year and no claim has been made during the policy term.

Also Read: Good news for bank employees, salary increased by 17%, increase in DA also approved

Claim will not be rejected due to lack of documents

In addition, the Insurance Regulatory and Development Authority of India (IRDAI) said that general insurance companies cannot reject claims in the absence of any documents. The master circular issued in this regard, which is part of the reforms in the general insurance business, will usher in a new era for simple and customer-centric insurance solutions.

The comprehensive master circular on general insurance business also repeals 13 other circulars. The circular states that no claim will be rejected due to lack of documents. According to this, customers can be asked to submit only those documents which are necessary and related to claim settlement.

The post IRDAI allows policy holders to cancel policy at any time, get refund first appeared on Rightsofemployees.com.

Let’s know and what are the specialties. Life Insurance Corporation has announced another policy plan. LIC has named this highly anticipating new product as LIC’s Dhan Vriddhi. This is a non linked, non participating individual savings plan. LIC hopes that this plan can bring a big change.

Life Insurance Corporation of India’s Dhan Vridhi plan aims to meet the insurance needs of the domestic market. Along with this, the insurance holder also has to provide financial security. Under this plan, people will get a comprehensive life insurance, which will have security, development and financial stability. This insurance scheme, launched under the Life Insurance Corporation of India, will take care of the needs of the insurance holder.

This scheme will fulfill all the needs

This insurance scheme was launched on 23 June 2023. It has been said on behalf of LIC that it strengthens the rules to meet the growing needs of its customers. This scheme will fulfill all the needs of the insurance holder and will also remove the problems of the customers.

Features of LIC Dhan Vridhi Plan

This policy is a life insurance single-premium policy, which offers a combination of savings and protection during the policy term. According to the website of Life Insurance of India, this policy gives an additional guarantee of up to Rs 75 per Rs 1,000 sum assured. The policyholder will be eligible for tax exemption under section 80-C. This means that the insurance holders who buy this policy can get a discount of up to Rs 1.5 lakh. The policyholder can surrender at any time during the policy term.

LIC introduces new policies from time to time

Significantly, Life Insurance Corporation of India is the leading insurance company of India, which has launched insurance policy for every category. It has insurance plans for children to elderly people. The company has also introduced plans for the marriage of girls. At the same time, based on the needs of the market and people, new policies are brought.

The post Lic launched new Policy! LIC has launched new insurance policy Dhan Vridhi, facility to surrender anytime including tax exemption first appeared on Rightsofemployees.com.

By investing in these schemes, you can plan for the expenses of your children’s education, marriage, retirement etc. Today we are giving you information about a very popular scheme of LIC. The name of this scheme is LIC New Jeevan Anand Policy. LIC was running this policy for a long time and now the company has started a new version of it. Come, we are giving you information about the details and other things of this policy.

Know about LIC New Jeevan Anand Policy-

LIC New Jeevan Anand Policy is a participating whole life endowment plan in which investors get the benefit of both savings and protection. Keep in mind that this is a new form of LIC Jeevan Anand. The special thing about this policy is that by investing in it, you can get a strong return in the long run.

By investing under this policy, you will get guaranteed returns as well as additional benefits. Under this policy, you also get the option of regular premium payment. If the policyholder survives till the completion of the policy, he will get the maturity amount and in case of death, the nominee will also get the benefit of death benefit. The special thing about this policy is that in this you can get the benefit of policy cover for 100 years.

These benefits are available on the policy-

Under the New Jeevan Anand policy, where the policyholder gets the benefit of the sum assured on maturity, on survival, the family gets a fixed amount in case of death. If you are alive till the maturity of the policy, you will also get the benefit of sharing in profits. Along with this, investing in this scheme will also help you in tax exemption.

You will get a return of Rs 25 lakh on just Rs 45.

Under LIC’s New Anand policy, investors will get a sum assured of at least Rs 5 lakh. In such a situation, if you choose this sum assured, then you will get a total of Rs 25 lakh in a period of 35 years. If you choose a tenure of 35 years, then under this scheme you will have to invest Rs 16,300 every year and Rs 1,358 on a monthly basis. On the other hand, if we talk about investing every day, then you will have to invest only 45 rupees. In this case, you will become the owner of a total of 25 lakh rupees on maturity.

The post LIC great Policy! Deposit only 45 rupees every day, you will get 25 lakhs on maturity, know full details first appeared on Rightsofemployees.com.

It is a non-linked, non-participating, individual plan, which can be availed through Corporate Agents, Brokers, Insurance Marketing Firms (IMF) and Common Service Centers (CSC). The plan helps in meeting various financial needs through periodic payouts and provides financial support to the policyholder’s family on their death during the policy term.

The premium for LIC Bima Ratna plan can be paid monthly (through NACH only), quarterly, half-yearly or annually. The grace period for previously unpaid premiums is 30 days for annual, half-yearly, or quarterly premiums and 15 days for monthly premiums. Rebates are offered on tabulated premiums for annual and half-yearly modes, while higher sum assured rebates are offered on Basic Sum Assured.

Can be restarted before maturity

Explain that a policy can be revived before maturity within five consecutive years from the date of first premium payment. If less than two full years’ premiums have been paid, the policy will be treated as completely void, whereas if at least two years’ premiums have been paid, it will continue as a paid-up policy till the end of the policy term .

After payment of two full years’ premiums, the policy can be surrendered, and surrender value equal to higher of Special Surrender Value or Guaranteed Surrender Value will be paid by LIC. Loan can be availed after payment of premium for at least two years, which will be provided up to 90% of the surrender value for in-force policies and up to 80% of the surrender value for paid-up policies.

This scheme gives many benefits to the people

LIC Bima Ratna plan offers several benefits to the policyholders, such as death benefit, survival benefit, maturity benefit and guaranteed additions. The death benefit is payable on the death of the policyholder during the policy term and consists of the Sum Assured on Death along with guaranteed additions, which will be higher of seven times the annualized premium or 125 percent of the Basic Sum Assured.

Maturity age is 70 years

Policyholders are eligible for LIC Bima Ratna plan if they fulfill certain criteria. So the Basic Sum Assured should be a minimum of Rs.5 Lakhs, and there is no limit on the maximum amount. The policy term can be 15 years, 20 years or 25 years and the premium paying term varies with the policy term. The entry age for the policyholder should be a minimum of 5 years for a policy term of 15 years and a maximum of 55 years for a policy term of 25 years. The age limit for maturity of the policy is 70 years.

The post LIC Launched New Plan: Avail these benefits by investing in this policy every month, know full details first appeared on Rightsofemployees.com.