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832- Child money back
Life Insurance Products
Get the latest information on all LIC's plans and all private insurance companies.
Founded in 1956,Life Insurance Corporation of India (LIC) is the Largest life insurance company in the country with a total income of Rs. 492626.60 core and total assests worth Rs. 2572028.34Cr It’s fully owned by the Goverment of the Goverment of India & is also the country largest investor.
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Plan Information
- Age Entry : 0-12 yrs
- Policy Term : 25-age yrs
- PPT : 25-age yrs
- Sum Assured : 1,00,000-No limit
- Sum Assured multiples : 10000
- Mode of payment : All
- ServiceTax 1st year : 4.5%
- Subsequent year : 2.25%
- Loan : After 3 yrs
- Surrender : After 3 yrs
- Risk Cover : Before the date of commencement of Risk: An amount equal to total premius paid excluding taxes,extra premium and rider premium
- After the date of commencement of Risk: SA+Bonus+FAB
- Risk Cover should not be less than 105% of total premiums paid
How does policy work
sample illustraction
sample illustraction
First Year Premium for Age 18
2nd year onwards
| Premium | GST(4.5%) | Payable Prem | |
|---|---|---|---|
| YLY | 8492 | 403 | 8895 |
| HLY | 4293 | 204 | 4497 |
| QLY | 2170 | 103 | 2273 |
| MLY | 723 | 34 | 757 |
| Premium | GST(2.25%) | Payable Prem | |
|---|---|---|---|
| YLY | 8492 | 202 | 8694 |
| HLY | 4674 | 111 | 4785 |
| QLY | 2170 | 52 | 2222 |
| MLY | 723 | 17 | 740 |
- Bonus: 240000
- FAB:90000
- Child Age 18thyr – 40000
- Child Age 20thyr – 40000
- Child Age 22thyr – 40000
- Child Age 25thyr – 410000
- Total Premium – 217551
- Total Returns – 530000
Disclaimer :
The Benefits shown in this presentation are as per the 8% Benefit illustration of LIC of India, Actual values may vary, depends on the corporation profits and experience