A Unit Linked Deferred Pension Plan from Life Insurance Corporation of India (LIC). It

Latest Unit Linked Health Insurance Plan from Life Insurance Corporation of India (LIC). It

• offers you Hospital Cash Benefit (HCB), Major Surgical Benefit (MSB) and Domiciliary Treatment Benefit (DTB)
• grows along with stock market,
• offers you liquidity (Partial or Total) in case of Emergency,
• allows you Income-Tax exmption upto Rs 15,000 per annum under Section 80 D of the Income-Tax Act. In case you are a senior citizen, however, this exemption is increased to Rs 20,000/- per annum.
• combines other usual benefits of an ULIP
• Plus comes from an Institution par excellent in Life Insurance and Money Management.

• Do not forget to register proper and valid `Title’ to your policy monies. Unless the `Title’ is clear, Claim settlement might be very difficult and time consuming, resulting in a lot of heartburn, both for you and your dependents.`Title’ can be as a Nominee or as an Assignee or as a Beneficiary under the provisions of Married Woments’ Property Act 1874 depending on your requirements. Each one of these `titles’ has its own advantages, disadvantages and legal implications.
• Do not forget to pay your premium in time. For all practical purposes, your policy lapses on the expiry of the permissible grace period for payment of premium. Revival requirements keep changing depending on how many years your policy has run before lapsation. During the lapsation period, no death claim is payable, unless, the policy is eligible for claims concession.
• Keep your policy documents(s) safe. They are to be surrendered at the time of claim settlement. Unlike Bank account, where, duplicate passbook can be obtained without any problem, getting duplicate policy bond is a cumbersome and expensive proposition. Much worse is the case at the time of death claim settlement, if the claimant does not have the policy bond.
• If you have borrowed against your LIC policy, ensure that the loan interest is paid in time. It is calculated Half-Yearly and you can pay 2 consecutive Hly loan interests together. If not, it gets compounded right from the beginning, which, is quite high and definite loss for you. Repayment of principal is at your option.There will be no separate loan interest notice unlike premium notice. Loan outstanding with loan interest due will be shown in the premium notice itself. Onus for payment of loan interest lies in you .
  
• Ensure that your LIC policy(ies) carry(ies) Double Accident and Permanent Disability due to Accident benefit, if not already done. These benefits are allowed on all LIC policies except those on Minor Children and Pension plans, by payment of a little extra. In case of some of the LIC plans like Jeevan Anand, these benefits are built in the basic plan itself.
  
• For all new LIC policies you go in for, you can consider inclusion of Riders. These riders are designed to enhance scope of the basic insurance plan you propose to take, with a little extra premium. Three riders available right now are,

1. Double Accident + Total and Permanent Disability Benefit due to Accident to take of the Accidental risk,
2. Term Rider to provide additional life insurance coverage at a very low extra premium,
3. Critical illness rider to take care of disablement and consequent drop in your income as a result of some of the most dreaded diseases-12 to 13 in number.

1. As a Govt of India owned Company , LIC is 51 + years old in the field of life insurance and money management.  LIC's Life Fund size as on day is more than Rs 5 Lakh Thousand Crores  !
2. Any LIC policyholder or the nominee will vouch for the best claims settlement from LIC.  Possibly, this is the only institution where you as a policyholder are virtually chased till such time your claim cheque is handed over to you !
3. LIC is adjudged `the best life insurance company of the year" by NDTV.
4. LIC adjudged No.1 Trusted Service Brand for the 4th successive year According to ET Brand Equity Survey.
5. This is the only corporation that is catering to more than 190 million satisfied policyholders in India and abroad.
6. This is one of the very few institutions that pays interest on pending maturity claims !
   
7. More than 2050 LIC branches all over India are connected together to serve you.  You can pay your premium anywhere in the country.During its long existence, LIC has kept on updating its portfolio by bringing in new plans depending on public requirement. More than 50 of them are most popular and can be customized to meet any of your requirements.LIC ULIPs have become extremely popular due to the returns they offer.Money Plus- latest LIC Unit Linked Plan is a case in point.
8. All LIC Plans come with Sovereign Guarantee i.e., Govt of India Guarantee regarding repayment. Infact, as of now, only LIC plans enjoy this Govt Guarantee. Beneficiary for this Sovereign Guarantee is you and you alone as the policyholder/ would-be policyholder.
9. All LIC plans are characterized by low premium, high life insurance coverage and a vast package of benefits offered by them. Add to this package, section 80C benefit and section 10(10D) benefit on the maturity proceeds, you will find investment on LIC plans one of the most coveted investment options available to you.
10. Premium paid under Key-Man Insurance plan is a recognized business expense under section 37(I) of the Income-Tax Act.  For companies making profits, this is a very good incentive indeed.
11. Through Employer-Employee Insurance scheme, you can recognize the worth of your most valuable employees whose absence you can ill afford to loose. Entire contribution to LIC Group Gratuity Scheme is a recognized business expense in the hands of the employer. In addition, through this scheme, the employer can transfer his gratuity liability to the corporation and fund the same under cash accumulation scheme.  The most popular among all the companies.
12. LIC is declaring quite an impressive bonus (profits) on all its with-profits policies every year.  Extra attraction under LIC Bonus is (a) it is calculated every year on the insured amount and not on the premium paid and (b) entire bonus received along with insured amount either by you on maturity of your policy(ies) or by your nominee in your absence during the currency of your policy(ies)  is free from income-tax under section 10(10D) of the Income-tax Act.
13. On most of the LIC plans, you can borrow to take care of your immediate monetary requirements.  None of the policy benefits get affected as a result of borrowal. Infact, policy loans offer one of the most attractive investment opportunities.
14. You can pay your premium 3 years in advance at 5% discount. Chief attractions of this advance payment of premium are  (a) there is no possibility of your overlooking your premium payment and getting your policy(ies) lapsed wherever you are in the world and  (b) you will be earning 5% tax-free interest on the unutilized portion of the amount left with LIC after apportioning the regular installment.
15. Most of the LIC plans come with Riders to take care of Total and Permanent Disablement due to Accident and some of the most dread diseases that may result in loss of income.
16. LIC pension plans that guarantee you life pension are extremely popular.  You can park your hard earned money safely with the corporation and enjoy pension as long as you are alive.

"I am a Non-Resident IndianInvestor and planning to invest in India in Life Insurance. Which is the company I should choose for meeting all my lifeinsurance requirements ?"

• Life Insurance Corporation of India (LIC) should be your obvious `choice"company to insure with. Want to know the reasons ? Click Here To Know Why LIC should be Your Obvious Choice To meet All Your Life Insurance Requirements

• You can insure with Life Insurance Corporation of India through `Mail Order" from whichever country you are  staying. There is no need for you to make an exclusive trip to
  India for this  purpose alone.

• Click Here To Know More About Mail Order

A Permanent Insurance plan from LIC that offers you

• Life Insurance Coverage as long as you are alive, so that, financial security of your nominee is permanently guaranteed,

• Substantial Funds should you survive the term you have chosen, so that, you can enjoy the fruits of your savings

• Loan facility to meet your emergencies that may crop up any time without affecting the benefits guaranteed under the plan in anyway,

• Compensation against fatal accident or Total and Disablement due to Accident,
  

• Maximum Liquidity so that, you can discontinue the plan any time,
  

• Income-Tax benefit under section 80C of the Income-Tax Act,

A short-term one-time investment plan from Life Insurance Corporation of India (LIC) requiring no medical examination. It offers you

• 15% each of the sum insured at the end of every 3 years from the commencement,

• Life Insurance Coverage right from day 1 till day last without any deduction towards the survival benefits paid as above, so that, financial security of your nominee is guaranteed,
  

• Return of entire single premium you have paid, should you survive the policy term you have chosen, thus ensuring no capital erosion,
  

• Loan facility to meet your emergencies that may crop up any time without affecting the benefits guaranteed under the plan in anyway after 1 year from the commencement,
  

• Maximum Liquidity so that, you can encash the plan any time after 1 year from the commencement for attractive encashment value 

• One-time Income-Tax benefit under section 80C of the Income-Tax Act
  

Open for investment by all Resident and Non-Resident Indian investors in the age group of 15-66 years.

Thousands and lakhs of LIC policyholders who have gone for this investment can vouch for this.  Press reports talk very high of the plan. 

For details about Bima Bachat  Click Here

A long-term  life insurance cum investment plan from Life Insurance Corporation of India (LIC) with Premium Payment Term (PPT) of only 3 or 4 or 5 years. It offers you

• Life Insurance Coverage for any period ranging from 10-30 years  +

• Attractive Maturity benefits, should you survive the policy term you have chosen +

A  Money Back type plan from Life Insurance Corporation of India (LIC) to recognise those who outlive the policy term chosen. It offers you

• Attractive Maturity Benefits, should you survive the policy term you have chosen +

• Life Insurance Coverage for the full insured amount right from day 1 till day last of the plan without any deduction towards funds already received as above +

• Free Life Insurance Coverage for additional term equal to half the original policy term, should you survive the term you have chosen +

• Loan facility after 3 years from the commencement to take care of emergencies if any cropping up then with low interest and payable at your option +

• Income-Tax benefit under section 80C of the I.T Act and lot more.