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How is LIC endowment maturity amount calculated?

How is LIC endowment maturity amount calculated?

Details of your Plan:

  1. Sum Assured (A): = Rs. 5,00,000.
  2. Total Bonus Amount on Maturity (B): * = Rs. 1000.
  3. Maturity Amount (A+B): = Rs. 35,000.
  4. Period of Maturity = Dec, 2021.

How does Komal Jeevan policy work?

LIC’s Komal Jeevan Plan is a child insurance plan that offers guaranteed money back facility. In the unfortunate event of the child’s death during the policy tenure, the sum assured along with the guaranteed additions are paid out and the policy terminates. The following are the key features of this LIC Child Plan.

What is LIC Komal Jeevan plan?

The LIC Komal Jeevan policy is a money-back plan limited to children. This plan allows for the beneficiary to receive a particular percentage from the amount that has been assured under the child’s name on the occasion of the child reaching specific milestones in their life.

What is loyalty addition in Komal Jeevan?

Loyalty Additions: This LIC Komal Jeevan Plan generates profits by engaging in the corporation’s life insurance business to earn a considerable amount of profits. These bonuses are paid on the termination of the policy tenure or on the death of assured.

Which policy gives maximum returns?

LIC Plans with Highest Return. LIC offers a wide range of life insurance policies designed to provide higher returns. The following plans by LIC provide you with the maximum benefits – Jeevan Amar, New Children’s Money Back Plan, New Endowment Plan, New Money Back Plan- 20 years, and New Jeevan Anand Plan.

Is LIC policy a good investment?

Is LIC Plan a good investment? Yes, LIC offers best life insurance plans. If you are looking for investment and protection option under one product, you can consider Endowment or Unit Linked Investment Plan (ULIP) as per your risk appetite and financial objectives.

Is Jeevan Tarang a good policy?

LIC Jeevan Tarang Plan is a with-profits, whole of life plan. The plan provides annual survival benefits at the rate of 5½ % of the Sum Assured after the policy owner chooses an Accumulation Period….Key Features of LIC Jeevan Tarang Plan.

Plan type Whole life insurance plan.
Policy term Whole life insurance

How can I see my LIC policy details?

How to Check LIC Policy Details Online?

  1. Step 1: Go to the official LIC website, fill in your credentials like username and password.
  2. Step 2: Login to your account and select the option ‘View Enrolled Policies’.
  3. Step 3: You will be directed to a page where you can see all the listed enrolled policies.

What is LIC toll free helpline number?

+91 22 6827 6827
LIC Call Centre Services are now available 24*7 at phone number +91 22 6827 6827.

How can I double my money?

Safer Methods Of Doubling Your Money

  1. Mutual funds: If you have an investment horizon of around 6 to 7 years, mutual funds are the best option to see your money double.
  2. Debt funds: these are a segment of mutual funds that are invested in debt funds and stocks only which are the safest of all.

Is LIC better than PPF?

While LIC policies serve the purpose of insurance, a PPF serves the purpose of savings. PPF is a Public Provident Fund meant for long-term savings and retirement….PPF VS LIC.

Points LIC PPF
Risk Safe Safest
Target audience Caters to those who have dependents Caters to everyone
Tenure Flexible 15 years

Is LIC better than FD?

Fixed deposits are best for both short and medium term investments whereas life insurance plans are designed for long term investments. You can invest for a period of as low as 7 days in fixed deposits unlike a life insurance plan wherein you need to invest for at least 10 years. You can invest a minimum amount of Rs.

Is the LIC Komal Jeevan plan still available?

LIC Komal Jeevan Plan has been withdrawn by LIC and is not available for sale and purchase. LIC has been very dynamic in introducing plans according to different individuals demands. LIC Komal Jeevan Plan is exclusively fabricated for children between the age of 0 to 10 years.

When to buy a Komal Jeevan maturity return?

Komal Jeevan (Table 159) is a children’s Money back plan in which the maturity returns will be paid after the child attains 18, 20 , 22, 24 and 26 yrs. This plan can be bought by any of the parents or grandparent of the child. In most cases, Father would be the proposer.

What is the deferment period for LIC Komal Jeevan?

*Deferment period counted for this policy is 18 years minus the entry age of the child. Lakshay took LIC Komal Jeevan Plan for his newly born baby who is of 6 months. He purchased a policy with a lump sum premium payment option for the whole policy tenure of 26 years.

What are the benefits of LIC Komal child plan?

Three survival benefits (40% of basic sum assured + 30% of sum assured ) + SA + Accrued Bonus Let us understand this by an illustration, Child’s age: 0 years. An individual buys this plan for his newly born child; the premiums have to be paid for 18 years (till child turns 18).