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Life Insurance Products
Get the latest information on all LIC's plans and all private insurance companies.
Founded in 1956,Life Insurance Corporation of India (LIC) is the Largest life insurance company in the country with a total income of Rs. 492626.60 core and total assests worth Rs. 2572028.34Cr It’s fully owned by the Goverment of the Goverment of India & is also the country largest investor.
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Plan Information
- Age Entry : 18-55 yrs
- Max Maturity Age : 69 yrs
- Term/PPT : 14/10 16/12 18/14 20/16
- Sum Assured : 1,00,00,000-No limit
- Sum Assured multiples : 5,00,000
- Mode of payment : All
- ServiceTax: 1st year : 4.5%
- Subsequent year : 2.25%
- Loan: After 1 yr
- Surrender: After 1 yr
- On Death : Before 5 yrs SA+Guaranteed Addition(Rs.50)
After 5 yrs SA+Guaranteed Addition(Rs.55)+Loyality Addition
Sum Assured on death is 125% of Basic Sum Assured or 10 times of Annualized Premium or 105% of total premiums paid whichever is higher
Returns:
For Term 14: 10th,12th yr : 30% of SA
Maturiry : 40% of SA+Guaranteed Addition+Loyality Addition
For Term 16: 12th,14th yr : 35% of SA
Maturiry : 30% of SA+Guaranteed Addition+Loyality Addition
For Term 18: 14th,16th yr : 40% of SA
Maturiry : 20% of SA+Guaranteed Addition+Loyality Addition
For Term 20: 16th,18th yr : 45% of SA
Maturiry : 10% of SA+Guaranteed Addition+Loyality Addition
Plan illustration for SA 10 Lakh for term 20 years and payable Term 16 years.
First Year Premium for Age 18
2nd year onwards
| Premium | GST(4.5%) | Payable Prem | |
|---|---|---|---|
| YLY | 70436 | 3346 | 73782 |
| HLY | 35572 | 1690 | 37262 |
| QLY | 17963 | 853 | 18816 |
| MLY | 5988 | 284 | 6272 |
| Premium | GST(2.25%) | Payable Prem | |
|---|---|---|---|
| YLY | 70436 | 1673 | 72109 |
| HLY | 35572 | 845 | 36417 |
| QLY | 17963 | 427 | 18390 |
| MLY | 5988 | 142 | 6130 |
- Guaranteed Bonus: 855000
- Loyalty Addition :390000
- 16th Year:450000
- 18th Year: 450000
- 20th Year:1345000
- Total Prem – 1155417
- Total Returns:2245000
Disclaimer :
The Benefits shown in this presentation are as per the 8% Benefit illustration of LIC of India, Actual values may vary, depends on the corporation profits and experience