What is the maturity amount of LIC Komal Jeevan?
What is the maturity amount of LIC Komal Jeevan?
20% of 1,00,000 equal to Rs 20000, if the child turns 18 or 20 years. 30% of 1,00,000 equal to Rs 20000, if the child turns 22 or 24 years.
How LIC money back policy maturity amount is calculated?
New Money Back Plan (820) Maturity Calculator New Money Back 20 years Plan provides three Money Backs equals to 20% of Sum Assured on completion of 5th, 10th & 15th year of the policy and on the completion of policy term (20 years), 40% of Sum Assured + Bonus + FAB is also provided as maturity amount.
How the bonus is calculated in LIC?
Bonus Amount = Bonus Rate x (Sum Assured/1000) For instance, You have bought a policy New Children Money Back Plan (832) with a sum assured of Rs. 10 lakhs and the policy term is 25 years. The bonus declared for terms above 20 years is Rs. 38 (for the year 2021-22).
What is Plan 159 in LIC?
It is a child plan, suitable to fulfil the child’s educational and marriage requirements, etc. Premium paying term is less than the policy term. The guaranteed addition paid is of Rs. 75 per 1000 sum assured per year.
What is the benefit of Komal Jeevan?
Komal Jeevan policy offered by LIC is a children’s money back plan which offers financial protection against the event of demise during the plan’s term and periodic payments in case the assured survives. The grandparent or the parent can purchase this LIC money back plan for a child, whose age is between 0 to 10 years.
What is the money back policy 20 years plan 75?
LIC Plan 75 – New Money Back Plan 20 Years In the case of a 20-year Money Back Policy, 20 percent of the SA amount becomes payable after every 5,10 &15 years. The rest 40 percent plus the accrued bonus is payable in the 20th year. Moreover, a simple bonus (reversionary) is also payable at the time of maturity.
What is LIC money back policy 20 years?
LIC Money Back Plan 20 Years – Policy Details. LIC’s New Money Back Plan 20 years is a non-linked participating policy which in addition to periodic payment on survival at specific periods during the term. As part of the policy, 20% of the sum assured is paid as survival benefit at the end of 5, 10 and 15 years.
What happens if I stop paying LIC premium after 5 years?
The contract between the insurer and insured is voided, the life-insurance element will cease to exist once the policyholder has surrendered their policy. Thus any benefits before available will no longer be valid.
How much money will I get if I surrender my LIC policy after 3 years?
around 30%
If you surrender after 3 years, the surrender value will be around 30% of the premiums paid, excluding the premium paid in the first year and the premiums paid towards accidental benefit.