Saturday, 30 January 2016

Know MAJOR INSURANCE PLANS OF LIC

Know Major Insurance Plans of LIC

Dear mm expert readers! Today we are providing you the list of Major Insurance Plans of LIC and its Features for the upcoming LIC AAO Exam 2016.
ENDOWMENT ASSURANCE PLANS:

  • LIC’s Single Premium Endowment Plan No. 817): A single Premium With-Profits plan where the sum assured is payable along with the accrued bonuses on maturity or on earlier death of the life assured. On death before the commencement of risk, the single premium paid is returned without interest.
  • LIC’s New Endowment Plan (Plan No. 814): A Regular premium With-Profit plan which provides for applicable sum assured along with accrued bonuses on maturity or an earlier death of life assured.
  • LIC’s New Jeevan Anand (Plan No. 815): It is a unique With-Profits plan wherein on death during the policy term or on survival to the end of the policy term, the applicable sum assured is payable along with the accrued bonuses. On death after the expiry of the policy term, basic sum assured is payable.
TERM ASSURANCE PLANS
  • LIC’s Ammol Jeevan – II (Plan No. 822): A pure term assurance plan where one can choose any sum assured from 6 lakhs to 24 lakhs
  • LIC’s Amulya Jeevan – II (Plan No. 823): A pure team assurance plan with a minimum sum assured of 25 lakhs
  • LIC’s e-Term Plan (Plan No. 825): A pure term assurance plan which is available for online sale only under this
MICRO INSURANCE PLANS:
  • LIC’S New Jeevan Mangal (Plan No. 819): A Micro Insurance cum Term Insurance plan wherein the Sum assured varies from 10,000/- to 50,000/- In this plan, total premiums paid is repaid on maturity.
PENSION PLANS:
  • LIC’s Jeevan Akshay – VI (Plan No. 189): An immediate annuity plan with a number of options.
  • LIC’s New Jeevan Nidhi (Plan No. 818): A with-Profits, deferred pension plan which provides death cover during the deferment period.
HEALTH INSURANCE PLAN:
  • LIC’s Jeevan Arogya (Plan No. 904): A non-linked health insurance plan which provides for fixed benefits for hospitalization and almost all types of surgical procedures irrespective of actual cost incurred.
OTHER PLANS:
  • LIC’s New Money Bank Plans (Plan Nos. 820, 821): Besides providing life cover during the term (20 & 25 years) of the policy, survival benefits linked to the sum assured during the term of the policy will be available.
  • LIC’s New Bima Bachat (Plan No. 816): A Single Premium money back plan with policy term of 9, 12 and 15 years. Survival benefits during the term of policy are available.
Must read for LIC AAO Exam 2016:

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