Quick Answer: What Is LIC Child Career Plan?

Is there any LIC policy for 5 years?

LIC’s Jeevan Aastha is a single premium assurance plan which offers guaranteed benefits on death and maturity.

The Plan is close ended and would be available for a maximum period of 45 days from the date of its launch i.e.

08.12….2.Premium rates.Age at entryPolicy Term 5 yearsPolicy Term 10 years50180.85175.903 more rows.

What is the minimum age for LIC policy?

FOR BASIC PLANAge at entryAge of the Life Assured- 20 to 60 years (age nearest birthday)TermAll terms from 10 to 25 years. In case of single premium mode minimum term shall be 5 Years.Minimum Sum AssuredRs. 50,000 /-Maximum Sum assuredNo limit. Sum Assured will be in multiples of Rs.5,000 /- only.2 more rows

Is PPF better than LIC?

The Public Provident Fund tends to provide a far superior rate of returns compared to an LIC policy like Jeevan Anand. What you should do is invest in the PPF and take a term policy online, which is cheaper and faster. In the term policy you do not get your money back, but, you are provided with solid insurance.

How is LIC maturity amount calculated?

Maturity benefit would be equal to the Sum Assured + Bonus Amounts which have been received throughout the policy term + any Final Addition Bonus if declared. Now whenever the death of the policyholder happens (even after the policy term), the nominee will additionally get the Sum Assured amount as the Death Benefit.

How much LIC will I get after maturity?

Benefits of LIC Money Back Policy- 20 years 125% of the Basic Sum Assured as chosen at the policy inception or. 10 times of annualized premium as being paid. Subject to a minimum of 105% of the total premiums paid as on date of death.

How much money will I get if I surrender my LIC policy?

Guaranteed Surrender Value: The policy can be surrendered after it has been in force for at least 3 full years. The Guaranteed Surrender value will be equal to 30% of the total amount of premiums paid excluding the premiums for the first year and all the extra premiums and premiums for accident benefit / term rider.

Which is the best plan in LIC for child?

The premium under the LIC child plan is to be paid for a limited term only….LIC Jeevan Tarun.MinimumMaximumPolicy Term25 years – the entry age of the childSum AssuredRs.1 lakhNo limitAnnual Premium AmountRs.24, 000No limitPremium Payment Term10 years, 5 years or (term – 5) years3 more rows•Nov 27, 2020

What is LIC new children’s Money Back Plan?

LIC’s New Children’s Money Back Plan is a insurance cum investment plan which can be used for securing the financial needs of a child as they turn 25 years old. It is a participating plan and hence is eligible for bonus depending on the performance of LIC.

How much I will get in PPF after 15 years?

PPF Calculation for investment periods of:Investment PeriodTotal PPF InvestmentTotal Interest Earned15 yearsRs. 1.5 lakhRs. 1.4 lakh20 yearsRs. 2 lakhRs. 2.88 lakh30 yearsRs. 3 lakhRs. 9 lakhOct 8, 2020

Which LIC plan is best?

Best LIC PlansLIC PoliciesPlan TypePolicy TermLIC Jeevan UmangWhole Life Insurance100 years minus(-) the age at entryLIC Jeevan AmarTerm Assurance Plan10 years-40 yearsLIC Money Back 25 yearsMoney Back Policy25 yearsLIC New Jeevan AnandEndowment Plan15 years-35 years1 more row

Which is the best policy for girl child?

Sukanya Samriddhi YojanaSukanya Samriddhi Yojana is a small deposit scheme of the Government of India meant exclusively for a girl child and is launched as a part of Beti Bachao Beti Padhao Campaign. The scheme is meant to meet the education and marriage expenses of a girl child.

Which LIC plan gives maximum returns?

LIC Plans with Highest Return. LIC offers a wide range of life insurance policies designed to provide higher returns. The following plans by LIC provide you with the maximum benefits – Jeevan Amar, New Children’s Money Back Plan, New Endowment Plan, New Money Back Plan- 20 years, and New Jeevan Anand Plan.

Which is better PPF or FD?

Both FDs and PPF offer tax benefits under Section 80C of the Income Tax Act, but PPF offers more benefits. For FDs, after 5 years of lock-in, the amount invested in FDs can be claimed for deduction up to a limit of ₹1.5 lakhs. … On the other hand, PPF falls under Exempt-Exempt-Exempt (EEE) status.

Is LIC Jeevan Anand a good policy?

LIC Jeevan Anand is a traditional participating whole life endowment plan. The plan provides an option of regular premium payment to the insured. On survival till the end of the plan term, the benefit on maturity is paid to the insurance holder and the plan continues to be in force.

Is LIC a good investment?

Is LIC Plan a good investment? Yes, LIC offers best life insurance plans. If you are looking for investment and protection option under one product, you can consider Endowment or Unit Linked Investment Plan (ULIP) as per your risk appetite and financial objectives.