Insurance in India
Insurance has become vital part in everyone’s life as it takes the complete responsibility to protect their families in case of financial loss or any sought of unfortunate event. Buying a insurance means getting into contract with insurance company who sells the policy, insurance company agrees to pay the insurer or the family members fixed sum of money provided policy holder agrees to pay fixed sum of money which is called as premiums, premiums are paid based on the agreements of the policy, this will eventually be paid out to the policy holder or the family members with interest. Read and follow the most popular and advantageous insurance policies mentioned below. There are other various insurance policies available; you need to know the best insurance provider to choose the best insurance plan which fulfills your requirements. Be insured and stay safe.
See the below features of different insurance policies -
Marriage endowment/educational annuity plan –
1. A very unique insurance plan which provides considerable amount of money for a specified purpose such as marriage for education even in case of any unfortunate event, at a particular pre-fixed time.
2. On the date of maturity, the policy holder gets sum assured + bonus + final additional bonus.
3. Risk cove is available from day one of issue of policy.
4. Risk cover in this policy is unique because in case of death of the policy holder during the term of the policy, premium payments stops and the policy continues to participate in bonus. The sum assured and bonuses are paid on the date of maturity.
5. DAB and EPDB are available on payments of Rs 1per 1000 S.A.
Plan Especially Suitable for –
1. Parents with children less than 10 years
2. Very much useful to provide for child’s education /marriage.
Eligibility conditions –
Min. Age at entry: 18 Yrs
Max. Age at entry: 60 Yrs
Max. Maturity Age: 70 Yrs
Min. Term: 5 Yrs
Max. Term: 25 Yrs
Min. Sum Assured: 50,000.
Max. Sum Assured: No Limit
Multiples of S.A: 5000.
Accident Benefit: Yes
EPDB: Yes.
Jeevan Kishore –
The following are the benefits of Jeevan Kishore -
1. This policy is specially designed for children’s benefit
2. In this policy, child is the policy holder
3. On maturity, the policy holder (child) will get sum assured + vested bonus.
4. Grandparents or legal guardian’s death can give this policy as a gift. Of course, the proposer could be either of father or mother. In case of unfortunate death of both the parents, legal guardians can propose.
5. Without insisting on parent’s insurance, up to 2 lakhs sum assured can be given.
6. Risk cover starts after the child attains the age of 7 yrs or 2 yrs after taking the policy (whichever is later). In case of unfortunate death of policy holder, sum assured + bonus will be paid.
7. Special benefit as premium waiver benefit is also available on payment little extra premium. The advantage of this benefit is when the proposer dies before the child attains 18 yrs of age, future premiums are waived.
Eligibility Conditions –
Min Age of entry – 0 yrs
Max Age of entry – 12 Yrs
Max maturity Age – 45 Yrs
Min. Term – 15 Yrs
Max. Term – 35 Yrs
Min Sum Assured – 50,000
Max Sum Assured – Below 10 Yrs child 15 lakhs; Above 10 Yrs Child 40 Lakhs
Multiple of S.A – 5,000
Accidental Benefit – No s
Money Back Plus –
The following are the benefits of Money back plus policy -
1. The conventional and most popular policies ever sold by life insurance corporation of India throughout the country are the Money Back Plans
2. The unique selling point for money back plans is that money flows to the policy holder at regular intervals with short duration which makes the policy holder feel that he enjoys his money without the effect of inflation and also he provides for security to his family in the form of risk cover. So both the objectives are achieved under these types of plans.
Eligibility Conditions –
Min Age of entry – 13 Yrs
Max Age f entry – 50 Yrs
Max Maturity Age – 70 Yrs
Terms Available – 20 Yrs, 25 Yrs
Min Sum assured – 50,000
Max Sum assured – Any amount
Multiple of sum assured – 5000
Accident Benefit charges – Rs 1 per 1000 S.A
The above mentioned insurance policies are the most popular and very advantageous however there are various other policies which suit the requirements of complete family including own self.
1. Jeevan Sathi
2. New Jana Raksha
3. Jeevan Kishore
4. Jeevan Chaya
5. Jeevan Surabhi
6. Komal Jeevan
7. Health Plus
8. Profit Plus
9. Market Plus
10. Child Fortune plus
11. Child career plan
12. New Bima Gold
13. Endowment Policy
14. NRI policies
15. New Jana Raksha
The best offer provided by one of the well experienced Insurance advisor and LIC agent - N. Nagaraja Manja (Divisional club member) he can explain various beneficial policies to anyone who is interested. This privilege is only for people in Hyderabad – India. Free services provided.