How is Bima Gold maturity amount calculated?
On maturity he gets Rs 52716 as maturity amount which consists of total premium paid after deducting the 30000 (15000 + 15000 paid in the 4th and 8th year) as survival benefit and loyalty additions. If in-case on death of the person during the policy term, his nominee gets Rs 1 lakh.
How can I know the details of my LIC policy?
Step 1: Go to the official LIC website, fill in your credentials like username and password. Step 2: Login to your account and select the option ‘View Enrolled Policies’. Step 3: You will be directed to a page where you can see all the listed enrolled policies.
What is bachat Plus plan?
LIC’s Bachat Plus plan is a Non-Linked, Participating, Individual Life Assurance Savings plan. Under this plan, the premium can be paid either as Lumpsum (Single Premium) or as Limited Premium with a Premium Payment Term of 5 years.
How is LIC loyalty addition calculated?
Loyalty Addition for per 1000 of Maturity Sum Assured So loyalty addition will be 100000 x 640/1000= 64,000. If death of the policy holder happens in 10th policy year then applicable Loyalty Addition rate will be 425 and total loyalty addition will be 1,00,000 x 425/1000= 42,500.
What is sum assured in LIC New Bima Gold?
Eligibility – Who is the LIC’s New Bima Gold Plan for?
| Parameters | Eligibility |
|---|---|
| Maximum maturity age | 75 years |
| Minimum sum assured | Rs.50,000 |
| Maximum sum assured | Multiples of Rs.5,000 only (no limit) |
| Policy term | 12, 16, and 20 years |
Which LIC policy is best for tax benefit?
LIC Jeevan Anand is the best Tax Saving Plan in India. You can save 30% tax (if in the Tax Slab based on your income) every year on the Premium paid towards your policy. Also the Maturity Benefit at the end of policy term is also Tax Free. The second maturity the nominee receives is also Tax Free.
What is LIC nivesh plus?
LIC Nivesh Plus is a single Premium unit-linked policy that offers the ability to increase your money and to have life cover. LIC is a powerhouse in conventional life insurance policies and has not been very involved in the unit-linked product area.
Which insurance company has launched bachat plus a non linked participating individual life assurance savings plan?
The Life Insurance Corporation (LIC) of India has launched Bachat Plus, a non-linked, participating, individual life assurance savings plan. The applicants may either pay the premium in lump sum (single premium) or may avail the 5-year limited premium paying option.