Is there any LIC policy for 10 years?

Is there any LIC policy for 10 years?

Let’s have a look at the available LIC 10-year plans with the facility of single premium payments….Plan parameters of LIC’s Single Premium Endowment Plan:

Age at entry	90 days to 65 years
Term of the plan	10 years to 25 years
Sum assured	INR 50,000 onwards
Single premium	Depends on the age, term and sum assured selected

Which is the best LIC policy for 10 years?

Best LIC Plans List for 2022

LIC Policies	Plan Type	Policy Term
LIC Tech Term Plan	Term Assurance Plan	10-40 years
LIC Jeevan Umang	Whole Life Insurance	100 years minus(-) the age at entry
LIC Jeevan Amar	Term Assurance Plan	10 years-40 years
LIC Money Back 25 years	Money Back Policy	25 years

What is maturity amount in LIC money back policy?

Policy buyers will have to pay premiums for 15 years. 20% of the sum assured is paid out to the policyholder at the completion of the 5th, 10th, and 15th policy years. The remaining sum will be paid as the maturity benefit.

Which LIC plan gives maximum returns?

LIC offers a wide range of life insurance policies designed to provide higher returns….Eligibility Criteria for LIC’s New Jeevan Anand Plan:

Minimum age at entry	18 years
Maximum maturity age	75 years
Minimum basic sum assured	Rs.1 lakh
Maximum basic sum assured	No limit
Minimum accident benefit sum assured	Rs.1 lakh

How can I claim my LIC money back?

Maturity Claims: The policyholder is requested to return the Discharge Form duly completed along with the Policy Document, NEFT Mandate Form (Bank A/c Particulars with supporting proof), KYC requirements etc. .

Can I get my LIC premium back?

Why It Is Not Ideal To Cancel The Policy After 1 Year? You can cancel the LIC policy after paying the premiums for a minimum of three years. If you (the policyholder) give up the policy within three years, there will not be any surrender value applicable.

What is LIC Jeevan Anand policy?

LIC New Jeevan Anand is a participating non linked life insurance policy that offers the double benefit of protection and savings. The plan offers financial protection in case of death of the insured and also provides a lumpsum amount in case of survival at the end of the term policy.

Is LIC money back policy good?

According to tax and investment experts, the LIC Money Back Policy falls under the EEE (exempt-exempt-exempt) category, which means an investor has the luxury of getting income tax benefits on his or her LIC Policy premium payments, interest earned on it and the maturity amount – provided the net premium paid under the …

How does LIC money back policy work?

LIC’s Money Back Policy is a non-linked plan that gives pay-outs at specific intervals. These pay-outs are made during the policy tenure as a certain percentage of the basic sum assured.

Is money back policy good?

A money back policy is much less risky than investing in a mutual fund. It can be a favourable situation for the investor because it is a tax-saving investment with assured returns over the period, as well as providing comprehensive life insurance coverage.

Can we cancel LIC policy after 1 year?

What happens if I stop paying LIC premium after 1 year?

For single premium policies, the surrender value gets acquired after the first year itself. In case you haven’t paid even 2 or 3 years’ premium (as per the case above) and want to discontinue, the insurer will not pay you back anything and will not convert it into a paid-up policy either. The money is all but lost.

What is the best cash back LIC policy?

– LIC itself provide loan on your policy based on the current surrender value of the policy. – Current Interest rate is just 10% PA which is better than personal loans from any other bank or institution. – You will just need to submit original policy and loan form to LIC office or give it to your agent. – Repayment is also flexible

How to get my discontinued LIC policy money back?

This is the value which is the amount payable to you should you decide to discontinue the policy and encash the same from LIC.

Surrender value is payable only after three full years premiums are paid to LIC.

Surrender of policy is not recommended since the surrender value would always be proportionately low.

How much loan amount can I get on LIC policy?

Minimum tenure for a loan against LIC policy is 6 months

Applicants will have to pay at least 6 EMIs before they can prepay their loan

In case the policyholder dies,the interest will be calculated till the date of his or her death

In case the policy matures,then the maturity amount can be used to pay off the remaining loan principal amount

What is the best LIC policy?

It is a participating LIC child plan and as such is eligible to earn bonuses depending on the company’s profit experience.

LIC’s Premium Waiver Rider is available under the LIC child plan,which promises a waiver of future premiums in case of death of the proposer.

The premium under the LIC child plan is to be paid for a limited term only.