LIC Agent India

We With the several years of Experience in Insurance Sector, We are committed to provide you with the best LIC's life insurance programs to serve your needs for personal insurance, risk management, and employee benefits. Since customer service is our number ONE priority to our insured's, you can rest assured that we will be there when you need the most.


We offer LIC life insurance and general insurance.

Call only if you want to take New policy :-, We are only sell new policy not responsible for any other issue related to you other policy.

Call on: 9451895985 to take new policy.

You can only call to take new policies, we will not respond for any of your old or other issues related to LIC, we just sell new policies of LIC and support only who take policies from me.


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Jeevan Shree I - Life Insurance Policy

Product summary:
This is an Endowment Assurance plan offering the choice of many convenient premium paying terms. It provides financial protection against death throughout the term of plan with the payment of maturity amount on survival to the end of the policy term.

Premiums:
Premiums are payable yearly, half-yearly, quarterly or through Salary deductions, as opted by you, throughout the premium paying term or till earlier death. Alternatively premium may be paid in one lump sum (Single premium).

Guaranteed Additions:
The policy provides for the Guaranteed Additions at the rate of Rs. 50/- per thousand Sum Assured for each completed year for first five years of the policy. The Guaranteed Additions are payable along with the Basic Sum Assured at the time of claim.

Bonuses:
The policy participates in the profits of the Corporation’s life insurance business from the 6th year onwards. It will get a share of the profits in the form of bonuses. Simple Reversionary Bonuses will be declared per thousand Basic Sum Assured annually at the end of each financial year. Once declared, they will form part of the guaranteed benefits of the plan.


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Anmol Jeevan - I - Life Insurance Policy

On Death during the Term of the Policy	Sum Assured
On Maturity	Nil

 

Restrictions

Minimum age at entry	18 years (completed)
Maximum age at entry	55 years (nearer birthday)
Maximum age at maturity	65 years
Minimum Term	5 years
Maximum Term	25 years
Minimum Sum Assured	Rs.5,00,000/-
Maximum Sum Assured	Less than 25,00,000 .
Mode of Premium Payment*	Yearly, Half- Yearly and Single premium

Note : The policy would be issued in multiples of Rs. one lakh for Sum Assured above Rs. five lakh.


Rebate

i) Sum Assured Rebate : NIL in case of regular premium policies .

ii) Mode Rebate : 1 % of Annual premium for yearly mode and nil for Half-Yearly mode.


Underwriting, Age Proof and Medical Requirements
The plan is available to Standard and Sub-standard lives (upto Class VI EMR). This plan is also available to female lives (category I and II lives only) and to physically handicapped persons subject to certain conditions. Standard age proof will have to be submitted along with the Proposal Form.

PAID-UP AND SURRENDER VALUE :

i) The policy will not acquire any paid-up value.
ii) No Surrender Value will be available under this plan.


Loan
No loan will be granted under this plan.


Grace Period For Non-Forfeiture Provisions
A grace period of 15 days will be allowed for payment of yearly or half-yearly premiums. If death occurs within this period and before the payment of the premium then due, the policy will still be valid and the Sum Assured paid after deduction of the said premium as also unpaid premiums falling due before the next policy anniversary of the Policy. If the premium is not paid before the expiry of the days of grace, the Policy lapses.


Revival
If the Policy has lapsed, it may be revived during the life time of the Life Assured, but before the date of expiry of policy term, on submission of proof of continued insurability to the satisfaction of the Corporation and the payment of all the arrears of premium together with interest at such rate as may be prevailing at the time of the payment. The corporation reserves the right to accept or decline the revival of discontinued policy. The revival of the discontinued policy shall take effect only after the same is approved by the Corporation and is specifically communicated to the Life Assured. The cost of the Medical reports, including Special Reports, if any, required for the purposes of revival of the policy, should be borne by the Life Assured.


Payment Of claims
No Claims concession will be applicable to this Policy.


Back-Dating Interest
The policy can be back dated within the financial year. No dating back interest shall be charged. 

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Amulya Jeevan I - Life Insurance Policy

Death Benefit: In case of unfortunate death of the Life Assured during the term of the policy, Sum Assured is payable, provided the policy is kept in force.

Maturity Benefit: Nil

MODE OF PAYMENT OF PREMIUMS      
Premiums may be paid Yearly, Half-yearly or by Single Premium mode.

PREMIUM RATES
The tables below provide specimen tabular premiums for various age-term combinations for Rs. 1000/- Sum Assured

Annual Premium:
 

Age (yrs.)	Term of the Policy (years)
	5	10	15	20	25	30	35
20	1.97	1.97	1.97	1.97	2.05	2.18	2.38
25	2.07	2.07	2.08	2.18	2.35	2.61	2.94
30	2.13	2.19	2.36	2.57	2.92	3.36	3.88
35	2.43	2.64	2.94	3.40	3.97	4.65	5.47
40	3.04	3.43	4.07	4.81	5.70	6.77	-

Single Premium:
 

Age (yrs.)	Term of the Policy (years)
	5	10	15	20	25	30	35
20	8.12	13.71	18.12	22.03	25.86	29.84	34.51
25	8.55	14.33	19.46	24.49	29.70	35.84	42.79
30	8.81	15.54	22.14	28.99	37.04	46.18	56.37
35	10.07	18.73	27.72	38.31	50.31	63.71	78.88
40	12.62	24.45	38.38	54.18	71.81	91.79	-

REBATES:

Large Sum Assured Rebates: The reduction in tabular premiums for different Sum Assured ranges are given below:

Sum Assured	Regular Premium	Single premium
Up to Rs.99 lakh	-	-
Rs.1 Crore and above	-	Rs.0.50 %o SA

MODE EXTRA : 2.00% of tabular annual premium for half-yearly mode.

ELIGIBILITY CONDITIONS

 

Minimum age at entry                         -           18 Year (Completed)
Maximum age at entry                        -           60 years (nearest birthday)
Maximum age at maturity                   -           70 years
Policy term                                        -           5 to 35 years
Minimum Sum Assured                       -           Rs.25,00,000/-
Maximum Sum Assured                      -           No upper limit
(Sum Assured shall be in multiples of Rs.1,00,000/-)

GRACE PERIOD:
A grace period of 15 days will be allowed for payment of yearly or half-yearly premiums.

PAID UP VALUE:
The policy shall not acquire any paid-up value.

REVIVAL
If the Policy has lapsed, it may be revived during the life time of the Life Assured, but within a period of 5 years from the date of first unpaid premium and before the date of maturity, on submission of proof of continued insurability to the satisfaction of the Corporation and the payment of all the arrears of premium together with interest at such rate as may be fixed by the Corporation from time to time compounding half-yearly.

SURRENDER VALUE:
No Surrender Value will be available under this plan.

LOAN:
No loan will be available under this plan.

COOLING OFF PERIOD:
If you are not satisfied with the “Terms and Conditions” of the policy, you may return the policy to us within 15 days.

EXCLUSIONS:

Suicide: This policy shall be void if the Life Assured commits suicide (whether sane or insane at that time) at any time on or after the date on which the risk under the policy has commenced but before the expiry of one year from the date of commencement of risk under the policy and the Corporation will not entertain any claim by virtue of this policy except to the extent of a third party’s bonafide beneficial interest acquired in the policy for valuable consideration of which notice has been given in writing to the branch where the Policy is being presently serviced (where the policy records are kept), at least one calendar month prior to death.

Section 45 of Insurance Act, 1938:
No policy of life insurance shall after the expiry of two years from the date on which it was effected, be called in question by an insurer on the ground that a statement made in the proposal for insurance or in any report of a medical officer, or referee, or friend of the insured, or in any other document leading to the issue of the policy, was inaccurate or false, unless the insurer shows that such statement was on a material matter or suppressed facts which it was material to disclose and that it was fraudulently made by the policyholder and that the policyholder knew at the time of making it that the statement was false or that it suppressed facts which it was material to disclose.

Provided that nothing in this section shall prevent the insurer from calling for proof of age at any time if he is entitled to do so, and no policy shall be deemed to be called in question merely because the terms of the policy are adjusted on subsequent proof that the age of the life assured was incorrectly stated in the proposal.

Prohibition of Rebates (Section 41 of INSURANCE ACT ,1938) :
(1) No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy nor shall any person taking out or renewing or continuing a policy accept any rebate except such rebates as may be allowed in accordance with the published prospectuses or tables of the insurer provided that acceptance by an insurance agent of commission in connection with a policy of life insurance taking out by himself on his own life shall not be deemed to be acceptance of a rebate of premium within the meaning of this sub-section if at the time of such acceptance the insurance agent satisfies the prescribed conditions establishing that he is a bona fide insurance agent employed by the insurer.

(2) Any person making default in complying with the provision of this Section shall be punishable with a fine, which may extend to 500 rupees.

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Money Back Plan - Life Insurance Policy

Features:
Unlike ordinary endowment insurance plans where the survival benefits are payable only at the end of the endowment period, this scheme provides for periodic payments of partial survival benefits as follows during the term of the policy, of course so long as the policy holder is alive.

In the case of a 20-year Money-Back Policy (Table 75), 20% of the sum assured becomes payable each after 5, 10, 15 years, and the balance of 40% plus the accrued bonus become payable at the 20th year.

For a Money-Back Policy of 25 years (Table 93), 15% of the sum assured becomes payable each after 5, 10, 15 and 20 years, and the balance 40% plus the accrued bonus become payable at the 25th year.

An important feature of this type of policies is that in the event of death at any time within the policy term, the death claim comprises full sum assured without deducting any of the survival benefit amounts, which have already been paid. Similarly, the bonus is also calculated on the full sum assured.

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Endowment Assurance - Life Insurance Policy

- Moderate Premiums
- High bonus
- High liquidity
- Savings oriented

This policy not only makes provisions for the family of the Life Assured in event of his early death but also assures a lump sum at a desired age. The lump sum can be reinvested to provide an annuity during the remainder of his life or in any other way considered suitable at that time.

Premiums are usually payable for the selected term of years or until death if it occurs during the term period.

Suitable For:
Being an endowment assurance policy, this plan is apt for people of of all ages and social groups who wish to protect their families from a financial setback that may occur owing to their demise.

The amount assured if not paid by reason of his death earlier will payable at the end of the endowment term where it can be invested in an annuity provision for the rest of the policyholder's life or in any other way he may think most suitable at that time.

Disability Benefit:
In case policy holder becomes totally and permanently disabled due to an accident before reaching the age of 70 and the policy is in full force, he will not be required to pay further premiums, (the Disability Benefit is available in respect of the first Rs.20,000 sum assured on any one life) and the policy will continue to be in force.

Accident Benefit:
By paying a small extra premium of Rs.1 per Rs.1000/- sum assured per year he or his family are entitled to the following benefits on death or permanent disability caused by accident. Even students above the age of 18 years can avail of this benefit.

Premium Stoppage:
If payment of premiums ceases after at least THREE years' premiums have been paid , a free paid-up policy for a reduced sum assured will be automatically secured provided the reduced sum assured, exclusive of any attached bonus, is not less than Rs. 250/-. The reduced sum assured will become payable on the event as stipulated in the policy.

Bonus:
Is there anything extra payable besides the sum assured at the time of claim settlement? Yes, but only if it is a ‘with profits’ policy. Every year the Life Insurance Corporation distributes its surplus among policyholder to ‘with profits’ polices in the form of bonuses. Substantial bonuses have been declared in the past after each valuation of policy liabilities.


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Bima Bachat - Life Insurance Policy

What is Bima Bachat?
LIC’s Bima Bachat is a money-back policy which offers financial security and assurance to the policy holder and his family. Bima Bachat requires the policy holder to pay only one premium. The amount paid for the premium depends on the duration of the policy taken and life insurance is available till the date of maturity.

What other benefits do I receive during the specified duration of the policy?


For a term of 9 years: The policy holder will receive 15% of the sum assured at the end of every 3rd and 6th policy year.


For a term 12 years: The policy holder will receive 15% of the sum assured at the end of every 3rd, 6th and 9th policy year.



For a term 15 years: The policy holder will receive15% of the sum assured at the end of every 3rd, 6th, 9th and 12th policy year.



What additional benefits do I get upon maturity?
If the policy holder outlives the duration of the policy, at the time of maturity, a single premium payment (excluding extra premium) is made along with loyalty additions, if any.

How much insurance do I get?
The policy holder is insured for an amount equal to the sum assured.

What about the installment received already?
The insurance cover is irrespective of the installments received.

When am I eligible for the guaranteed surrender value?
The guaranteed surrender value is available only after completion of at least one policy year. This value is equal to 90 % of the single premium paid (excluding extra premium).

What other benefits does this insurance cover offer?
Bima Bachat is the only money-back policy that offers a loan facility. The rate of interest for this will be determined from time to time by the corporation. Presently the rate of interest is 9% p.a. payable half-yearly.

It also offers other benefits like the 15 day cooling off period, grace period and revival.

Who is eligible for the policy? Are there other conditions or restrictions?
The following are the requirements that one needs to be aware of before applying for this
policy:
· The person applying for the policy should have completed 15 years and should not be older than 66 years.
· The policy will mature when the person is 75 years old.
· There is a choice of three terms to choose from (9, 12 and 15 years) for the policy depending on the age and requirement of the applicant.
· The minimum sum that needs to be assured is Rs 20,000/- and there is no limit on the amount that can be assured.
· It is important to note that the sum assured should be in multiples of Rs 5000/- only.
· The policy requires the holder to pay a single premium. 

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