Best LIC Policies Plans To Invest in 2020

1. Jeevan arogya health is Best LIC policies plan, As it Cover health is the most important part of our life. Also we are taking care Best of it. But at times we may face certain emergencies like surgeries or accidents that can affect our life as well as the life of our family members. In order to avoid financial crisis during emergency phase,
   It is better to be prepared for every situation. So it’s better to have Best insurance policies like Jeevan Arogya plan.

Premium payment mode
Yearly
Half Yearly

Benefits available on LIC Jeevan arogya health policies plan(Best LIC policies health plan)
There are various types of benefits in LIC Jeevan arogya health policies plan like Hospital Cash Benefit (HCB), Major Surgical Benefit (MSB), Day Care Procedure Benefit (DCPB) and Other Surgical Benefit (OSB).

The Principle Insured (PI) can take the policy covering himself/herself.
The Spouse, Children, Parents and Parents-in-law can also be covered under the same policy.

Minimum Entry Age :
For Principal Insure/Spouse
18 Years

Some Additional benefits of this plan includes
Two riders: Term Assurance & Accident Benefit Rider available for PI and Insured Spouse only.

For Child
3 years

Jeevan arogya health plan is a Best LIC policies non linked health plan which provides fixed benefits on
hospitalization and in almost all types of surgical procedures irrespective of their actual cost incurred , subject to certain terms and conditions.

Premium payment mode
Yearly
Half Yearly

Minimum Entry Age
For Principal Insure/Spouse
18 Years

For Child
3 Month

For Parents/Parents-In-Law
18 Years

Maximum Entry Age :
For Principal Insure/Spouse
65 Years

For Child
17 Years

For Parents/Parents-In-Law
75 Years

Minimum Sum Assured
Rs. 1,00,000

Maximum Sum Assured :
Rs. 4,00,000

Basic S.A. shall be in multiple of Rs.1 lakh/ 1,00,000

Policy Benefits On Demise
No payable benefits on demise.

However, following action will take place.

i. On death of the Principal Insured (PI), There is an Option for Spouse to take over the policy.
ii. Insured’s Spouse had predeceased the Principal Insured,Option to take new policy.
iii. In the event of death of an Insured continue with change in premium.

Loan :
No loan will be available under the policy.

Surrendered Value :
No surrender value will be available under the policy.

2. PM vvy (pension plan)
   Pradhan Mantri Vaya Vandana Yojana is a Best LIC policies plan Government subsidized Scheme which shall provide an assured return of 7.4% p.a. payable monthly (i.e. equivalent to 7.66% p.a.) on the pensioner surviving during the policy term of 10 years for citizens aged 60 years and above.

Premium Payment Mode :
Single Premium

Mode of Pension payment :
Monthly
Quarterly
Half-yearly
Yearly.

The pension payment shall be through NEFT Or Aadhar Enabled Payment System only.

Pension Rate :
Yearly
7.66

Halfyearly
7.52

Quarterly
7.45

Monthly
7.40

Minimum Entry Age
60 Year Completed Should be Minimum entry age.

Maximum Entry Age :
There is No Limit on maximum entry age.

Minimum Sum Assured :
Yearly
1,56,658

Halfyearly
1,59,574

Quarterly
1,61,074

Monthly
1,62,162

Maximum Sum Assured :
Yearly
14,49,086

Halfyearly
14,76,064

Quarterly
14,89,933

Monthly
15,00,000

Min-Max Pension Limit
Minimum Pension:
Rs. 1,000/- per Month
Rs. 3,000/- per Quarter
Rs. 6,000/- per Half-year
Rs. 12,000/- per Year

Maximum Pension:
Rs. 9,250/- per Month
Rs. 27,750/- per Quarter
Rs. 55,500/- per Half-year
Rs. 1,11,000/- per Year

Policy Benefits On Death
On death, Nominee will be refunded by the full purchase price. That’s why it considered Best LIC policies pension pla

Surrendered Value :
Surrender would be allowed in special circumstances, emergencies like critical or terminal illness of self / spouse.
98% of Purchase Price will be paid as the Surrender Value.

Loan
Loan (up to 75% of subscribed amount) can be availed after 3 years from the Date of Commencement.

3. Anmol Jeevan
   Anmool Jeevan is a regular premium paying conventional with no profit pure protection plan.

Premium Payment Mode
Yearly, Halfly

Term
5 to 25 Years

Minimum Entry Age
18 Years (Completed)

Maximum Entry Age :
55 Years (Nearest Birthday)

Maximum Cover Ceasing Age
65 Years (Nearest Birthday)

Minimum Sum Assured :
6,00,000

Maximum Sum Assured :
24,00,000

Policy Benefits On Death
On death of the Life Assured during the policy term Sum Assured shall be payable.

On Survival
On survival to the end of the policy term, No benefits shall be payable.

Surrendered Value
No surrender value will be available under this plan.

Loan
No loan will be granted under this plan.

Income Tax Benefit
• Premium paid under this plan is eligible for TAX rebate under section 80 c.

4. Children’s Money Back

New Children’s Money Back Plan is a non-linked, with-profits, regular premium payment money back plan.

Premium Payment Mode
Yearly, Halfly, Quarterly, Monthly(ECS)

Term :
25 Age at Maturity Time

Minimum Entry Age :
0 Year Last Birthday

Maximum Entry Age :
12 Year Last Birthday

Minimum Sum Assured :
1,00,000

Maximum Sum Assured :
NO LIMIT (Depending upon Income)

Policy Benefits On Death
On death Before the Date of Commencement of Risk:
An amount equal to the total amount of premiums paid excluding taxes, extra premium and rider premium, if any shall be payable.

On death After the Date of Commencement of Risk
Death Benefit, defined as sum of Sum Assured on Death & vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable. Where Sum Assured on Death is defined as higher of 7 times of annualized premium or Absolute amount assured to be paid on death i.e. Basic Sum assured.

This death benefit shall not be less than 105% of the total premiums paid as on date of death.

On Survival
If Policy in full force :
Completion Age 18YRS
20% OF MSA

Completion Age 20YRS
20% OF MSA

Completion Age 22YRS
20% OF MSA

On Maturity at Age 25YRS
40% of MSA + Vested Bonus + FAB

Surrendered Value
The policy can be surrendered at any time during the policy term provided premiums have been paid for full 2 years.

Loan
Loan facility is available under this plan after the payment of premiums for at least two full years.

Income Tax Benefit
Premium paid under this plan is eligible for TAX.
Maturity under this plan is free under sec 10(10D).

5. Jeevan Anand
   New Jeevan Anand Plan is a participating non-linked plan which offers both protection & savings.
   This provides financial protection against death throughout the lifetime of the policyholder.
   Also with the provision of payment of lump sum at the end of the selected policy term in case of his/her survival.

Premium Payment Mode:
Yearly
Halfly
Quarterly
Monthly(ECS)

Term
15 to 35 years

Minimum Entry Age
18 Year Completed

Maximum Entry Age
50 Year (Nearest Birthday)

Maximum Maturity Age
75 Year

Minimum Sum Assured
1,00,000

Maximum Sum Assured
NO LIMIT (Depending upon Income)

Maximum Accidental Death and Disability Benefit Rider up to age 70.

Policy Benefits On Death
Provided all due premiums have been paid, the following death benefit shall be paid:

On Death during the policy term
Death benefit, defined as sum of Sum Assured on Death and vested Simple Reversionary Bonuses and Final Additional bonus, if any, shall be payable.
Where, Sum Assured on Death is defined as higher of 125% of Basic Sum Assured or 7 times of annualised premium.

This death benefit shall not be less than 105% of all the premiums paid as on date of death.The premiums mentioned above exclude service tax, extra premium and rider premiums, if any.
On death of policyholder at any time after policy term: Basic Sum Assured

On Survival
Basic Sum Assured, along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable in lump sum on survival to the end of the policy term provided all due premiums have been paid.

Surrendered Value
The policy can be surrendered for cash provided at least two full years premiums have been paid. The Guaranteed Surrender value during policy term shall be a percentage of total premiums paid (net of service tax) excluding extra premiums and premiums for riders, if opted for. This percentage will depend on the policy term and policy year in which the policy is surrendered.

Income Tax Benefit
Loan can be availed under the policy provided the policy has acquired a surrender value and is subject to the terms and conditions as the company may specify from time to time.

Income Tax Benefit
Premium paid under this plan is eligible for TAX rebate under section 80c.

Maturity under this plan is free under sec 10(10D).

Proposal Form 300 shall be used under this plan.

6. New Jeevan Labh
   Jeevan labh is a Best LIC policies non-linked life assurance saving plan. It is both participating as well as an individual plan.

Premium Payment Mode:
Monthly
Quarterly
Half-yearly
Yearly.

Policy term
16 years
21 years
25 years

Premium paying term
10 years
15 years
16 years

Minimum Entry Age
8 Years (completed)

Maximum Entry Age
59 years for policy term of 16 years
54 years for policy term of 21 years
50 years for policy term of 25 years

Maximum Maturity age
75 years

Minimum basic sum assured
Rs,. 2,00,000

Maximum basic sum assured
No limit

Policy benefits
Death benefit
Death benefit, defined as sum of Sum Assured on Death and vested Simple Reversionary Bonuses and Final Additional bonus if any
Where sum assured on death is defined as basic sum assured.

This death benefit shall not be less than 105% of all the premiums paid as on date of death.The premiums mentioned above exclude service tax, extra premium and rider premiums

Maturity benefits
On survival of life assured to an end of policy term provided all due premiums have been paid.
Sum assured on maturity with vested simple Reversionary Bonuses & final additional bonus.
Sum assured on maturity is equal to basic sum assured.

Loan
The facility of loan is available after payment premium of at least 2 yrs.

Tax
Statutory taxes.

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