Stock market volatility over the last few months has spurred the average investor to go on the look-out for a product that not only offers complete protection for his Capital but also offers a reasonable rate of return. LIC has always kept the needs of its customers in prime focus and brought out innovative products from time to time. Our latest offering in the turbulent times is “Jeevan Aastha” which is a SINGLE PREMIUM PRODUCT with guaranteed benefits on Maturity & Death.
The plan is CLOSE-ENDED with maximum shelf life of 45 days from the date of its launch, viz., 08.12.2008.
Keeping the people’s preference for short term investment options in view, plan offers a CHOICE OF TWO TERMS i.e., 5 years and 10 years only.
MINIMUM AGE AT ENTRY has been kept as low as 13 years to enable parents to make provision for higher education of their children. Similarly, the MAXIMUM AGE AT ENTRY has been pegged at 60 years to enable those who wish to protect their hand-earned savings from the vagaries of an unstable market and also to ensure guaranteed returns for their twilight years.
The plan offers GUARANTEED ADDITION of Rs. 100/- p.a. for every thousand of Maturity Sum Assured for 10 years term and similarly Rs. 90/- p.a. for policies with 5 years term.
The policy-holder can enjoy RISK COVERAGE equal to Basic Sum Assured which would be the 6 times of the Maturity Sum Assured plus Guaranteed Additions in the first policy year. In case of death after the first policy year, double the Maturity Sum Assured along with Guaranteed Addition would be payable. However, for death during the last policy year, twice the Maturity Sum Assured along with Guaranteed Additions and Loyalty Addition, if any, would be paid to the nominees. The Minimum risk coverage for the 1st year i.e., the Basic Sum Assured that can be availed of is Rs. 1.50 lacs. However, there is no upper limit to it.
On completion of the Policy Term, the Maturity Sum Assured along with the Guaranteed Addition and Loyalty Additions, if any, will be payable. LOYALTY ADDITIONS will depend on the Corporation’s experience and is not guaranteed.
The premium paid under the policy and the Maturity proceeds enjoy TAX EXEMPTIONS as per the applicable provisions of the Income Tax laws.
After completion of one policy year, the policyholder has the option of raising LOAN under the policy. The policy can be assigned, too.
All these features, make ‘Jeevan Aastha’ an ideal plan for the investors of all hues in the current environment.
The Plan No. is 195 and its Unique Identification Number is 512N252V01.
Bonus : The results of valuation as at 31.03.2008 have been announced. The result show that the Corporation has 23.39 crore for in force policies in its books. The Reversionary Bonus level has been maintained at the last year’s level. However, the Final Additional Bonus has been increased ranging from 11% to 40% for terms spanning between 20 years and 40 years.
The amount distributed to the Policyholders by way of bonuses is Rs. 18,885.40 crores as against Rs. 17,231.30 crores of last year showing an increase of 9.6%.
The dividend paid to the Government this year is Rs. 827.93 crores as against Rs. 756.36 in the previous year.
The Corporation has provided for 152% of the prescribed Solvency margin as against the stipulated 150%.
After completion of one policy year, the policyholder has the option of raising LOAN under the policy. The policy can be assigned, too.
All these features, make ‘Jeevan Aastha’ an ideal plan for the investors of all hues in the current environment.
The Plan No. is 195 and its Unique Identification Number is 512N252V01.
Bonus : The results of valuation as at 31.03.2008 have been announced. The result show that the Corporation has 23.39 crore for in force policies in its books. The Reversionary Bonus level has been maintained at the last year’s level. However, the Final Additional Bonus has been increased ranging from 11% to 40% for terms spanning between 20 years and 40 years.
The amount distributed to the Policyholders by way of bonuses is Rs. 18,885.40 crores as against Rs. 17,231.30 crores of last year showing an increase of 9.6%.
The dividend paid to the Government this year is Rs. 827.93 crores as against Rs. 756.36 in the previous year.
The Corporation has provided for 152% of the prescribed Solvency margin as against the stipulated 150%.
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