The Money crunch in the system has made insurance and mutual fund companies to formulate more and more innovative products. Initially where all the matters were to market risk have now turned into a guaranteed return schemes.
Today (16 Feb. 09) LIC (Life Insurance Corporation of India) has launched its new scheme named “Jeevan Varsha” which offers guaranteed return with survival benefit. This plan is launched keeping the success of “Jeevan Aastha “
This money back plan will be available from 16 Feb. 09 to 31 Mar. 09. The term of this policy would be 9 (Nine) and 12 (Twelve) years respectively. One of the most important plus point in this plan in the survival benefit which will give return after every 3 (Three years) which in return will create higher rate of return.
|Premium Payment||Monthly /Quarterly/ Half Yearly/ Yearly|
|Premium Payment Term||9 Years||(For 9 and 12 Years plan)|
|Policy Term||9 and 12 Years|
|Survival Benefit||After Every 3 Years|
|Survival benefit||Term 9 years||Term 12 years|
|3rd Year||15% of SA||10% of SA|
|6th Year||25% of SA||20% of SA|
|9th Year||60% of SA + GA + LA (if any)||30% of SA|
|12th Year||40% of SA + GA + LA (if any)|
|Death Cover||Fixed death benefit of SA + GA + LA|
|All the above information is for reference purpose only. Every care was taken post accurate information however we will not be responsible for the above information mentioned for more details please contact LIC agent / Development officer/ Regional office for official and accurate details.|