LIC Jeevan Chhaya

LIC’s Jeevan Chhaya Table/ Plan No 103:

Premium Ceasing Age : 65 Premium Ceasing Term : 0

Plan Highlights
Features
•LIC’s Jeevan Chaaya Policy is Ideal for parents having less than a year old child.
• Makes provision for education! marriage of the baby boy girl child/ daughter.
• Extra benefit of waiver of premium in case of death of the policy holder.
Special Features
This policy is given under non-medical scheme up to sum assured of Rs.1 lakh, if the prospect is having a child of less than one year of age as on date of registering the proposal. This non-medical is exclusive for other policies.
Benefits
Short term needs like family provision in case of premature death of the policyholder and long term needs like education and marriage of dependents are simultaneously fulfilled by this policy. This policy is a right choice if a person wants to provide for the marriage of his daughter. The term can be fixed so as to receive the maturity benefit when the daughter is of marriageable age. For e.g. If the policy is for 20 years then:
• At the end of 17th year – 25% of Sum assured is payable provided the policy is in force.
• At the end of 18th year – 25% of Sum assured is payable provided the policy is in force.
• At the end of 19th year – 25% of Sum assured is payable provided the policy is in force.
Survival Benefits:
Maturity : At the end of 20th year – Balance 25% Sum Assured plus bonus plus additional final bonus if any.
Fixed Benefits : 25% of the Sum assured payable each year at the end of last 3 years provided the policy is in full force.
Death Benefits:
Natural : Besides the fixed benefits, an additional amount equal to the Sum assured will be paid on the death of the policy holder. Further premiums waived
Accidental : Payment of double the Sum assured plus fixed benefit. Further premiums due from the policy anniversary following the date of death will stand waived.
Suitable For:
Couples having a less than one year child (not an adopted child) can avail themselves of this plan, in order to ensure that an adequate financial planning provision is made for the higher education of the child/ Kids Baby boy Girl . The child should not have completed one year of age on the date of registration of the proposal. Either father or mother or each one of them individually can take policies under this plan under Non-medical Scheme. This plan is also allowed to others subject to medical examination.

To view Example/ Illustrations Review Premium Chart Calculation for Various Kind of Options Plan Presentaion on Jeevan Chhaya Policy in detail Click here.

LIC Komal Jeevan

LIC Komal Jeevan Children Money Back Plan Plan No 159.

Premium Ceasing Age : 18 Premium Ceasing Term : 0

Guaranteed Addition of Rs. 75.00 per 1000

Plan Highlights
Features
LIC’s Komal Jeevan Plan allows payment of premium ceasing on policy anniversary immediately after the child attains 18 years of age. The plan, besides offering risk cover, also offers payment of sum assured in instalments at age 18, 20, 22, 24 as also guaranteed and loyalty additions, if any, at the age of 26. (Children Child Kids Baby Boy Girl Money Back Type Insurance Plan Policy by LIC of India.)
Special Features
• In most cases, father would be the proposer under the plan. But, if the mother of the child has income of her own i.e. female category I and II she can also propose under the plan. If both parents are not alive, then the legal guardian can propose under the plan.
• Risk under this plan will commence either after 2 years from the date commencement of the policy or from the policy anniversary immediately following the completion of 7 years of age, whichever is later.
• No medical examination of the life assured is required.
• Policy shall automatically vest in the life assured on the policy anniversary immediately after the life assured attains majority.
Benefits
Survival Benefits:
The Sum Assured under this plan will be paid in installments at periodic intervals provided the policy is in force for full sum assured as under:
• 20% of the Sum Assured on the policy anniversary immediately after the life assur attains the age of 18 years.
• 20% of the Sum Assured on the policy anniversary immediately after the life assur attains the age of 20 years.
• 30% of the Sum Assured on the policy anniversary immediately after the life assur attains the age of 22 years.
• 30% of the Sum Assured on the policy anniversary immediately after the life assur attains the age of 24 years.
Guaranteed Additions:
Guaranteed Addition of Rs 75 per thousand is payable per annum at the age of 26 at the end of each policy year. This will be added to the policy provided the policy is in full force.
Loyalty Addition:
Loyalty Additions will also be payable on maturity or on death after the commencment of the risk under the policy based on the rates declared from time to time , depending on the experience of the Corporation in LIC Komal Jeevan Plan/ Children Plans.
Premium Waiver Benefit:
Premium waiver benefit can be availed by the proposer under this plan for which additional premium will be payable. Lives up to the age of 50 (nearer birthday) are eligible, subject to normal underwriting requirements.
Term Rider Benefit:
Term Rider Benefit can be availed by the proposer to the extent of 20% of the basic Sum Assured under the policy not exceeding Rs.100000/-. The benefit will be payable in case the proposer dies before the policy anniversary on which the child completes 18 years. Lives up to the age of 50(nearer birthday)are eligible for this benefit subject to normal underwriting requirements
Death Benefits:
In the event of unfortunate death during the term, after the commencement of risk but before policy matures, the sum assured together with guaranteed additions is payable without any deduction or adjustment for the amount that may have been paid earlier by way of instalment benefits.
Accident Benefit:
This Plan will not be eligible for accident or permanent disability benefits.  

To view Examples/ Illustrations on LIC’s Komal Jeevan Presentation Click here.

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