Jeevan Nidhi

LIC ALL IN ONE CALC

Welcome to the blog of Jigar Gohil

Me I am a developer of LIC ALL IN ONE CALC. And I would like to share latest news, information and materials of Lic on my blog.
Me

JIGAR GOHIIL

I am a developer of LIC ALL IN ONE CALC. And I would like to share latest news, information and materials of Lic on my blog.

Jeevan Nidhi

Jeevan Nidhi Plan (Plan No. 818)

by Jigar Gohil, May 1, 2016

LIC’s New Jeevan Nidhi Plan is a conventional with profits pension plan with a combination of protection and saving features. This plan provides for death cover during the deferment period and offers annuity on survival to the date of vesting.

• Minimum Basic Sum Assured: Regular Pay – Rs.1,00,000/-
• Single Pay – Rs.1,50,000/-


• Maximum Basic Sum Assured: No Limit

• Minimum Policy Term: 5 years

• Maximum Policy Term: 35 years

• Minimum Entry Age: 20 years (completed)

• Maximum Entry Age: Regular Pay – 58 years
• Single Pay – 60 years


• Minimum Vesting Age: 55 years

• Maximum Vesting Age: 65 years

• Mode of Premium Payment: Yearly, half-yearly, quarterly & monthly

LIC's Jeevan Nidhi Benefit Details

• On Death during first five policy year : Sum Assured + Guaranteed Addition

• On Death after first five policy year : Sum Assured + Guranteed Addition + Vested Bonus + FAB if any.

• This Death Benefit shall not be less than 105% of all Premiums paid as on death.

• On Vesting : On survival Basic Sum Assured + Vested Bonus + FAB if any.

• Surrendered Value: the policy can be surrendered anytime for Single Pay plans where the Surrender Value if surrendered in the first 3 years will be 70% of the premium paid and thereafter it will be 90% of the premium paid.
• For Regular Pay plans, the policy can be surrendered after 2 or 3 full years premiums have been paid.

• Loan : Loan is not available under the plan.

• Income Tax Benefit: Income tax benefit on the premium paid as per Section 80CCC
 • on the death benefit under Section 10(10D) of the Income Tax Act.