As usual, LIC is launching a limited period plan called Jeevan Shikhar (Table No.837). This will be available from January, 2016 to the maximum period of 120 days.
You notice the LIC history, they always launch limited period endowment plans in January and closes in March. The reason is to trap the tax saving salaried individuals. The biggest loser in such unplanned blind tax saving investments are INVESTORS only but not agents or LIC. So to utilize this opportunity, every year LIC launches new plans during this tax saving season.
Below are the features of this plan
Benefits-
Survival Benefit-
If you survive till the policy period, then you will receive the MSA (Maturity Sum Assured)+Loyalty Addition.
Death Benefit-
a) If death occurs during first 5 policy years-Refund of single premium without interest.
b) If death occurs after 5th policy year-10 times of your single premium.
I tried to simplify the plan by explaining as below.
This is the plan which yet to be launched. But going by available features, I felt is one more worst plan LIC launching. I feel buying a term insurance and PPF is best. I am referring PPF again and again. Because PPF offers same tax benefit as that of LIC endowment products.
I will review it once I will get more updates of the same.
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Hi,
I want to take insurance plan for my mother.she is 5o years old.
I can invest 50 k.
can u please suggest a insurance/Pension plan with a single premium which gives good money on maturity for my mother
Sudhakar-Do anyone financially dependent on her?
Sir
Tell me a best mode of tax saving by single premium under lic of rs50k to 60k
Age25m
Anil-Whether your purpose of investment is to reach your financial goals, tax saving or investing in LIC product?
Age : 21
What will be the best long term investment options...with SIP of RS.5000 p.m...
Keyur-Meaning of long term?
I have an infant of 1 year 4 months. I would like to invest one time investment of Rs.1,00,000/- in LIC for future studies of my son. Hence, please advise.
Seshagiri-Do you feel LIC products are right? If your plan is to invest, then why you are looking for a product which is insurance also?
Dear sir
my two child one 5 years old and 2nd 1 years I invest 10 lac suggest me what I do
which type policy purchased I need money after 15 years both son in education or marriage my interest in kyc (post office) pls tell me
Tejinder-First stay away from these POLICIES CHAKKAR.
Dear,
My cousin died in KSA where he was working, I am also working here, I want to get best plan for my cousin daughter aged 3 yrs which will get best results after 15 yrs, but I want to invest a maximum of Rs.2 Lakhs for 6 months to 1 year maximum.
Pls. advise me.
Thanks
Mubasheruddin-Try to avoid a product which combines insurance with investment.
Thanks for reply.
I need only investment plan to get returns after 15 yrs for cousin daughter marriage expenses preferred LIC, if there is any other suitable plan in this situation pls. let me know.
Thanks
Mubasheruddin-If your goal is around 15 years, then I suggest around 60% in equity fund and 40% in PPF.
Hi Basavaaj...which equity fund.. can u pls suggest my email id hasanzahu@gmail.com
Zahurul-It is hard to say without knowing much about your financial goals.
Hi Basavaraj,
I am also eager to Invest for my Childs Future, You were suggesting someone to Invest 60% in Mutual Fund and 40% in PPF. Can you please provide me some more details on this and links if possible to do some research.
Balram-Yes, even you can start investing in equity-oriented balanced fund like HDFC Balanced Fund.
Dear Sir
I have gone ahead with LIC policy for 30 lacs and I wanted to split my policies between LIC and ICICI. I have applied for the lic policy and they are taking time.. Can I go ahead and apply for icici term insurance with declaring that my proposal with LIC is work in progress or should I wait till lic process is over...I am confused..Pls help
Bala-Better to wait.
Sir
The only problem is that LIC is going too slow. I think I have chosen the wrong agent - one who is not interested in the business at all. He is just too casual.. That is why I am a bit impatient to take the ICICI policy
Since I have gone through the agent - I am unable to track the policy online and I feel helpless.
Bala-I understand that they are very slow. But at the same time hiding information with ICICI may cost you. Hence, I said to wait. But why you went for offline LIC policy where it is sold through an agent?
Sir,
That was the mistake I did. I sent the agent a cheque on April 7th - nearly 2.5 months back...
I didn't have faith in the online mode that time but I am regretting it now.
I have a thought sir - If I apply for ICICI now, will it be a problem if I take either of their policies...ie whoever is able to issue the policy 1st and then reject the other..
Bala-In that case you can go ahead.
Sir - to explain myself more clearly
if ICICI is able to finalise 1st, then I will go ahead with ICICI and reject LIC
if LIC is able to finalise 1st, then I will reject ICIC.
That way, I would not have problem with disclosure towards LIC or ICICI.. Is my thinking correct, sir
Sorry for the bother sir...please don't mind me asking these questions as I don't know to who to raise
Bala-If your decided to retain ONLY ONE, then go ahead with ICICI. No disclosure required.
Recently2013 my father expired he use lic policy but in between policy collapsed in 2012 .due to financial prblm.at that time if policy was running we get maturity amount. Incase of death..and know iwnt a lic policy for my mother.. My mom doesn't get term plan bec she is a housewife..for safety feature we should do lic or term plan. .for future we don't know what will be future but pls do a policy so that family can be secure thnk
u
Pradeep-Whether anyone depend on her financially?
Yes know she is getting pension inbehalf for my father he was working in bnk.and iam the only one in my family
Pradeep-Who are all dependent on that pension?
Can u suggest me which plan should I take my mom age is 49
Pradeep-NONE.
I am planning to buy an LIC plan. My age is 36 years, I have 2 childrens(Girl of 5 years & Boy of 1 year). Please suggest me some good LIC plan especially for my childrens within a range of 25k annual premium.
Regards,
Vijay
Vijay-Your requirement is Insurance or Investment??
I would opt for Investment.
But give me information about insurance also.
Vijay-Insurance means term insurance.
Yes, but given me information on investment also.
Hi Basu,
I have SBI life Shubh Nivesh policy with sum assured 83000 , premium term and benefit term 9 year with below option
SBI Life - Accidental Death Benefit Rider : 83000
SBI Life - Shubh Nivesh Whole Life Plan Base Cover 83000
with yearly premium 12000 rs. total accrued bonus 7470 and policy start date is : aug 2012.
when I purchased this policy they say that your money will get double but i dont believe so
should I continue with this or surrender. I have read many reviews about this policy over internet that I will get paid less than my deposited amount after 9 year (RS 108000).
What I will get if I surrender this as of now.
Thanks in advance
Vimal-Money doubles but after how many years? It is better to come out early.