LIC declared it’s bonus rate on 1st September 2012 for the year 2012. Let us see how much are they and compare with last 5 years bonus rates. Latest rates are available in my latest post “LIC’s Bonus rates for 2013-14 and Comparison“.
Above Bonus rates for 2012 will be applicable for policies entered during the inter valuation period (01-04-2011 to 31-0302012) and in force for full SA as on 31-03-2012. It also apply for the policies whose death, maturity or surrender occurs on or after 01-01-2013. Also above 2012 bonus rate applicable who entered after 31-03-2012 and result into claims, maturity or surrender during the period commencing from 01-01-2013 and ending 9 months from the date of next valuation.
I considered only the plans which are currently offering by LIC. You notice from above table that Bonus rates are not changed to what it was previous year. Positive point is, it maintained the same increased rate of bonus rate for Jeevan Anand (which was raised previous year for all tenures). I mentioned here Jeevan Anand because it is one of the highest selling insurance plan.
Below are Loyalty Addition rates for few selected policies. I considered Bima Nivesh, Komal Jeevan and Jeevan Saral.
For Jeevan Saral if the policy is in force for atleast 10 years and full premium paid for all 10 years then loyalty addition is payable or due to earlier death for complete duration for which the premiums have been paid.
Also if death claim occurs in the 10th year of the policy and the policy is in full force then loyalty addition is payable.
If policy surrendered after completion of 10 years, provided 10 full years premiums have been paid under the policy, loyalty addition will be payable for the complete duration for which premiums paid.
Hope this information will helpful for policy holders.
If you have any specif doubt about LIC’s Jeevan Saral Plan then I request you all to raise your queries by commenting on the post LIC’s Jeevan Saral-Why so much confusion?
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View Comments
Could you tell me the Jeena Saral 2012-13 policy loyalty addition annual premium band ?
Dear Antony,
It is not available with me. Better you cross-check with LIC.
Sir I have a lic policy of new bima gold money back in 2009 for 12 years. Sum assured is 4 lac. In 2021 it will be matured . What amount I get
Dear Raja,
Contact branch.
Hi Sir,
My age is 29 and I have taken Jeevan Anand Policy(149) 2 years back. I am paying 50103 every year(once in a year) and the term is 21 years. I was told by my agent that I will be getting 20 lakhs upon maturity whereas the sum assured is displayed as 10 lakhs.
Could you please confirm what would be the sum assured in my case upon maturity?
Sudarshan-Sum Assured will not vary. So it will be Rs.10 lakhs only. But in my view, your agent provided you the maturity amount.
dear sir my present age is 39, i have 2 kinds one is 12yrs baby and other is 6 yrs boy.
i want to give 20 lakhs each at their age of 27. which plan is best for me.
give me details. as early as possible.
Raj-Whether the Rs.20 lakh is in today's term or the value once they reach 27 years? To be frank, don't run behind these policies.
Hi Basu,
Can you help me with an understanding whether bonus accrues on Jeevan Anand policy in the year of commencement? I have 2 jeevan anand policies and need this for better financial decision making.
Rgds
Sachin
Mr. Basavaraj Tonagatti
please advice me-
I have three Jeevan Saral policy yearly premium 30024,48040 and 24020 in the year December,2009 and March,2010.I am confused what should I do close the policies this year that is after five years or continue at least 10 years ?-please advice.And if I surrender then what should I decide for next Investment with same amount of premium? please reply soon.thanks.
Biswajit-Please go through below comments related to Jeevan Saral and you will find my answer.
Sachin-First analyze whether you did better financial decision by buying these two plans? Bonus rates are available in above chart. What else you need??
Dear Mr. Basavraj,
I have taken a Jeevan Shree Policy in year 2002 for Rs.5,00,000/- Sum Assured. Yearly I have paid Rs. 51,341/-. I have paid for 10 years without any break. LIC has told me that this policy shall mature after15 years, i.e in 2017. When I am trying to check about the maturity amount I shall be getting, I did not get any clear picture from any one person in LIC.
Can you please let me know what shall be the maturity value I shall be getting. I was told when policy is being taken I shall get a maturity value of 4 times the SA i.e Rs.20 Lacs. Is it so?
Appreciate your early and positive reply.
Murali Venkat
8499996388
Hi Basavraj,
I have a LIC Jeevan Saral (T No: 165) policy. Here are the details of it:
DOC: 17/01/2010
Sum Assured: 10 lacks
Policy Term: 21 years
Age while commencement: 24
Premium Amount per month: 4043/-
Could you please let me know the maturity amount that I will get?
Thanks,
Hidayat
Hidayat-There are numerous replies in below comments related to Jeevan Saral. Request you to read all of them in detail.
Murali-Please check your policy document. You will get all information on it.
DEAR SIR,
I ONLY NEED YOUR ADVICE PLEASE; I HAVE A LIC JEEVEN SARAL PLAN OF 26 YEARS TERM OF RS. 11, 25,000/- IF THE POLICY IS BEING SURRENDERED BY ME AFTER FIVE YEARS THEN THERE HAS BEEN ANY KINDS OF LOOSES. AND IF I HAVE TO CONTINUE THIS PLAN TILL MATURITY THEN THE VERY TIME WILL BE ANY KIND OF LOOSES WHILE VIEWING AT THE TIME OF PRESENT TO FUTURE. PLEASE TELL ME ABOUT I WOULD LIKE TO KNOW ABOUT THAT I HAVE DISCONTINUED THE POLICY AROUND TO FIVE YEARS, IF I AM WRONG SO PLEASE TELL ME ABOUT IT. WHAT DO I DO FOR THIS TIME ?
REGARDS!
Mohit-Please read comments related to Jeevan Saral. You will find my answer.
Sir,
I only would like to know about if I have discontinued the policy after five years, I will have gone to loose side or not. If I continued the policy that is safer side or going to gain profit or loose.
Please reply my query.
Thanks
Sir,
How long period I have to continue this policy, what is your advice if my policy has been terms 26 years. Please suggest me how long years have I to continue the very policy? After that I have no loose at the end of the policy.
And also please let me know what will I get form LIC after five years if I discontinued my policy (including M.S.A & L.A. declared by corporation)
Mohit-By running behind year on year to get what you paid you actually looser by committing a same mistake. In my view it is best to come out after 5 years. If you continue for 10 years then you may get what you paid with that around 4% to 5%. Is it good decision?? I don't have any data to claim you how much you get after 5 years. So contact LIC office.
Mohit-In case of 5 years closure even if you loose something from what you paid already, is safer than committing a same mistake for rest of policy period. If you are satisfied with kind of return then you can go ahead :)
Sir,
How long period I have to continue this policy, what is your advice if my policy has been terms 26 years. Please suggest me how long years have I to continue the very policy? After that I have no loose at the end of the policy.
And also please let me know what will I get form LIC after five years if I discontinued my policy (including M.S.A & L.A. declared by corporation)
Hi sir,
I HAVE LIC JEEVAN ANAND POLICY, SUMASSURED 10,00,000.JOINT ON JANUARY 2004,MATURITY DATE 21YEARS. HOW MUCH WILL GET APPROXIMATELY IN MATURITY DATE.
Easow-It will be around 6%.
Dear Sir,
I had a Jeevan Anand policy with following details:
1. DoC = 28th May 2004
2. DoM= 28th May 2014
3. SA = 10,00,000/-
4. Premium Paid = 127,383/- for 10 years
Could you please let me know what should be the total amount that I should receive at maturity (i.e. on 28th may 2014) ?'
Thanks in Advance
Ritesh-In whatever way we calculate, return will be around 6%. Are you satisfied with it?
Hello sir, first of all thank you for the reply.
In my current situation, I would have been happy even if the return was around 6%.
Annuity Due of Rs 127,383, for 10 years at return of 6% p.a. would yield Rs 17,79,750/- on maturity.
But as far as I know the return has only been 13,53,000/- which is disgusting. My agent had promised me that at Maturity i would receive around 17 Lacs, but currently it is nowhere near that.
Please let me know if 13,53,000 is the correct sum to be received on Maturity or has there been any mistake from LIC?
Ritesh-I am not quoting the exact return. But do think 6% for such a long term is good investment decision, especially when inflation rate itself is around 8%. Means your investment is actually giving you negative return of 2%.
dear sir,
i have a money back polici.amount of half yearly rs-2744.for 20 years snd money back is 16000 per 4 years..Please tell me about houw much return can I expect on maturity.
Chinmay-It will be around 5%-6%.