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Updates found with 'maximum accidental benefit rider'

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Updates found with 'maximum accidental benefit rider'

Plan :New Jeevan Anand Plan(815)Product Summary :LIC New Jeevan Anand(815) Plan is a participating non-linked plan which offers an attractive combination of protection and savings. This combination provides financial protection against death throughout the lifetime of the policyholder with the provision of payment of lumpsum at the end of the selected policy term in case of his or her survival.Premium Payment Mode:Yearly, Halfly, Quarterly, Monthly(ECS)Term :15 to 35 years Minimum Entry Age : 18 Year CompletedMaximum Entry Age :50 Year (Nearest Birthday)Maximum Maturity Age : 75 YearMinimum Sum Assured : 1, 00, 000Maximum Sum Assured :NO LIMIT (Depending upon Income)Maximum Accidental Death and Disability Benefit Rider up to age 70.Policy Benefits :On Death :Provided all due premiums have been paid, the following death benefit shall be paid: • On Death during the policy term: Death benefit, defined as sum of "Sum Assured on Death"and vested Simple Reversionary Bonuses and Final Additional bonus, if any, shall be payable.Where, "Sum Assured on Death" is defined as higher of 125% of Basic Sum Assured or 10 times of annualised premium. This death benefit shall not be less than 105% of all the premiums paid as on date of death.The premiums mentioned above exclude service tax, extra premium and rider premiums, if any. • On death of policyholder at any time after policy term: Basic Sum AssuredOn Survival :Basic Sum Assured, along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable in lump sum on survival to the end of the policy term provided all due premiums have been paid.Surrendered Value :The policy can be surrendered for cash provided atleast three full years premiums have been paid.The Guaranteed Surrender value during policy term shall be a percentage of total premiums paid (net of service tax) excluding extra premiums and premiums for riders, if opted for. This percentage will depend on the policy term and policy year in which the policy is surrenderedLoan :Loan can be availed under the policy provided the policy has acquired a surrender value and subject to the terms and conditions as the company may specify from time to time.Income Tax Benefit :• Premium paid under this plan is eligible for TAX rebate under section 80c.• Maturity under this plan is free under sec 10(10D).
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Plan :Jeevan Umang(845)Product Summary :LIC's Jeevan Umang Plan (845) is a non-linked, with-profits whole life assurance plan.This plan provides for annual survival benefits from the end of the premium paying term till maturity and lump sumpayment at the time of maturity or on death of the policyholder during the policy term.Premium Payment Mode:Yearly, Halfly, Quarterly, Monthly(ECS)Term : [100 - age entry] Year PPT* : 15 year 20 year 25 year 30 year Minimum Entry Age : [90]days (completed) Maximum Entry Age : 55 years (Nearest Birthday) for PPT = 15 50 years (Nearest Birthday) for PPT = 20 45 years (Nearest Birthday) for PPT = 25 40 years (Nearest Birthday) for PPT = 30 Minimum age at the end of the PPT : [30]years(Nearest Birthday)Maximum age at the end of the PPT : [70]years(Nearest Birthday)Age at Maturity : [100]years(Nearest Birthday)Minimum Sum Assured : 2, 00, 000Maximum Sum Assured :NO LIMIT (Depending upon Income)Maximum Accidental Death and Disability Benefit Rider up to age 70. Maximum Accidental Benefit Rider shall be available during the ppt only.Policy Benefits :On Death :On death before the commencement of Risk: An amount equal to the total amount of premium/s paid without intrest shall be payableOn death after commencement of Risk: 'Sum Assured on Death'+vested simple reversionary Bonus + FAB if any. Where 'Sum Assured on Death' is defined as the highest of Basic Sum-Assured, OR10 times of Annualized Premium, OR 105%of all Premiums paid as on deathOn Survival :On survival 8% of Basic Sum Assured shall be payable each yearSurrendered Value :The Policy can be surrendered at any time during the policy term provided atleast three full years premiums have been paid.Loan :Loan Facillity is available under this plan, after payment of premiums for at least 3 full years.Income Tax Benefit :• Premium paid under this plan is eligible for TAX rebate under section 80c.• Maturity under this plan is free under sec 10(10D).
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The Mission, in order to expand institutional credit flow to the housing needs of urban poor will implement credit linked subsidy component as a demand side intervention.Interest subsidy will be credited upfront to the loan account of beneficiaries through Primary Lending Institutions resulting in reduced effective housing loan and Equated Monthly Instalment (EMI). The Net Present Value (NPV) of the interest subsidy will be calculated at a discount rate of 9 %.Credit Linked Subsidy Scheme for EWS/LIGBeneficiaries of Economically Weaker section (EWS) and Low Income Group (LIG) seeking housing loans from Banks, Housing Finance Companies and other such institutions would be eligible for an interest subsidy at the rate of 6.5% for a tenure of 20* years or during tenure of loan whichever is lower.The credit linked subsidy will be available only for loan amounts upto Rs 6 lakhs and additional loans beyond Rs. 6 lakhs, if any, will be at nonsubsidized rate. Credit linked subsidy would be available for housing loans availed for new construction and addition of rooms, kitchen, toilet etc. to existing dwellings as incremental housing. The carpet area of houses being constructed under this component of the mission should be upto 30 square metres and 60 square metres for EWS and LIG, respectively in order to avail of this credit linked subsidy. The beneficiary, at his/her discretion, can build a house of larger area but interest subvention would be limited to first Rs. 6 lakh only.Credit Linked Subsidy Scheme for MIG* The newly launched CLSS for MIG covers two income segments in the MIG viz. Rs.6, 00, 001 to Rs.12, 00, 000 (MIG-I) and Rs.12, 00, 001 to Rs.18, 00, 000 (MIG-II) per annum. In the MIG-I, an interest subsidy of 4% has been provided for loan amounts up to Rs.9 lakh while in MIG-II, an interest subsidy of 3% has been provided for loan amount of Rs.12 lakh. The interest subsidy will be calculated at 9% NPV over a maximum loan tenure of 20 years or the actual tenure, whichever is lesser. Housing loans above Rs. 9 lakh and Rs. 12 lakh will be at non-subsidized rates.CLSS for MIG will support acquisition/ construction of house (including re-purchase) of 90 square meters and 110 square meters carpet area as per income eligibilityHousing and Urban Development Corporation (HUDCO) and National Housing Bank (NHB) have been identified as Central Nodal Agencies (CNAs) to channelize this subsidy to the lending institutions and for monitoring the progress of this component. Ministry may notify other institutions as CNA in future.Under the Mission, beneficiaries can take advantage under one component only.For details, please refer to website section on Guidelines.*with effect from 01.01.2017
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