LIC Jeevan Mangal Policy: Life Insurance Corporation of India has a number of policies, which provide risk cover benefits. Apart from protection, investing in that scheme also offers good returns. Meanwhile, many investors prefer to set different goals for security and investment, i.e. they do not want to combine the two. LIC has introduced a special policy for them, called Jeevan Mangal Niti. This policy guarantees a minimum monthly premium cover of Rs.60 In this plan, you can get protection up to Rs. 50 thousand4LIC-
এর নতুন জীবন মঙ্গল পলিসি হল একটি সুরক্ষা পরিকল্পনা, যার ম্যাচিউরিটির পর সম্পূর্ণ অর্থ ফেরত দেওয়া হয়। এটি এই নীতির সবচেয়ে বড় সুবিধা। এই নীতিতে দুর্ঘটনার ‘বেনিফিট’ রয়েছে, যা দুর্ঘটনাজনিত মৃত্যুর ক্ষেত্রে দ্বিগুণ ঝুঁকি কভার প্রদান করে। এটি একটি ব্যক্তিগত, জীবন এবং ক্ষুদ্র বীমা পরিকল্পনা।
4 You must be minimum 18 years and maximum 55 years to avail New Jeevan Mangal Niti. This policy attains maturity at the age of 65 years of the insured. Policy tenure is 10 to 15 years for regular premium plans and five to 10 years for single premium. File photo: Bloomberg
4নতুন জীবন মঙ্গল নীতিতে বিনিয়োগ করে, আপনি আয়কর ছাড়ের সুবিধাও পাবেন। এতে, আপনি আয়করের ধারা 80C-এর অধীনে কর ছাড় পাবেন। এর সাথে, মেয়াদপূর্তিতে প্রাপ্ত প্রিমিয়াম পরিমাণের উপর কোনও কর নেই।
How to surrender LIC policy: :-
If you have LIC LIC policy and want to surrender that policy now then this news is for you. There are many times where people get LIC without knowing about the policy of Life Insurance Corporation of India.
Later it can be known that that LIC policy may not be for any purpose. As a result, LIC decided to stop the policy in the middle.
LIC is the largest and government-owned insurance company in the country. LIC provides policy surrender facility to its customers at any time.
But if you decide to surrender the policy much before maturity, its value is reduced in one fell swoop. As a result, Jeevan Bima Nigam is talking about paying premium for up to three years. After that you can surrender the policy. The policy can be surrendered in two ways.
In this the policy holder can surrender his policy only after completion of three years. That is, the premium should be paid up to three years from the date of insurance. If you surrender the policy after three years, the surrender value will be 30 percent of the premium, excluding the first year’s premium and accidental benefit. However, as long as you surrender this policy, the value is much higher.
A small formula is used to get the special surrender value. The formula is (Principal Sum Assured*(Number of Premiums Paid / Number of Premiums Paid) Total Bonus Received) * Surrender Value Factor included.
What is surrender value?
As per the policy of life insurance, a portion of your premium paid is returned after surrendering the policy before the entire policy has expired. A charge is deducted from it. And that money is called surrender value.
What happens if you surrender LIC Policy?
Once the LIC policy is surrendered your life insurance cover ends. Not only this, you will no longer get the tax benefits you are entitled to under section 40C of the Income Tax Act.
About:-
Life Insurance Corporation of India (LIC) is the largest insurance and investment company in India. The Life Insurance Corporation of India, a wholly owned subsidiary of the Government of India, contributes about 24.6% of the capital of the Government expenditure. Currently, the immovable property of this organization is about 13.25 trillion taka[1]. Bharatiya Jeevan Bima Nigam was established by Adhimiyam and was recognized by the President of India on 18 June 1956. This Act came into force from 1 July 1956 and from 1 September 1956
The head office of the corporation is located in Mumbai. Currently, the corporation has 8 field offices, 113 mandal offices, 2048 branch offices and a considerable number of sub-branch offices. In addition, there are 54 customer areas, 25 metropolitan regional hubs, 1.3 lakh and more individual brokers and a substantial number of corporate brokers, referral brokers, brokerage groups and insurance banks.
The main mantra of the Life Insurance Corporation of India is ‘Yugaksham Bahamyaham’, which means ‘Your welfare is my responsibility’. This mantra is verse 22 of Chapter 9 of Bhagavad Gita
LIC Policies
Type of Plan
Entry Age
Maturity Age (Maximum)
Sum Assured
Policy Term
LIC Tech Term Plan
Online Pure Protection Plan
18 years to 65 years
80 years
Minimum: Rs. 50,00,000
Maximum: No Limit
10 to 40 years
LIC Jeevan Amar
Pure Protection Term Plan
18 years to 65 years
80 years
Minimum: Rs 25,00,000
Maximum: No Limit
10 to 40 years
LIC Jeevan Umang
Whole Life Insurance
90 days to 55 years
100 years
Minimum: Rs. 2,00,000
Maximum: No Limit
(100 minus entry age) years
LIC Money Back 25 years
Money Back Policy
13 years to 45 years
70 years
Minimum: Rs 1,00,000
Maximum: No Limit
25 years
LIC New Jeevan Anand
Endowment Policy
Eighteen years to 50 years
75 years
Minimum: Rs. 1,00,000
Maximum: No Limit
15 years to 35 years
LIC Jeevan Labh
Savings Plan
8 years to 50 years for 16 years PT, 54 years for 21 years PT, and 50 years for 25 years PT
75 years
Minimum: Rs. 2,00,000
Maximum: No Limit
25, 21 and 16 years
LIC Jeevan Amar
It is an online pure risk term insurance plan that offers financial protection to the insured’s family in case of his/her death. The plan is a non-linked and non-participating term life insurance plan that provides a range of benefits to the insurance buyer as compared to other life insurance plans.
Key Features
- Increased SA (Sum Assured) and level sum assured benefit options are available.
- Maturity Benefit is not available under the plan.
- The premium prices are classified into two types: Smoker and Non-Smoker. Cotinine test is a mandatory medical test for non-smokers.
- Beneficiary/nominee will receive the death benefit if the insured dies during the plan term.
- The death benefit can opt-in installments or a fixed amount.
- Flexibility to pay a premium regularly or in limited or a lump sum amount.
- LIC Tech Term Plan It is a non-linked and non-participating plan that provides financial security to the family of the policyholder in case of his/her untimely demise during the policy tenure. The plan is only available through online mode and can be easily purchased anytime anywhere. Key Features
- The plan offers the flexibility to select between two benefit options- Level SA and Increasing SA.
- Special premium rates for women and non-smoker individuals.
- Rebates on high sum assured amount.
- Customization of the plan is offered as per your preferences such as you can choose policy term, premium payment term, opt for receiving the benefit in installments.
- The accidental Rider benefit option helps enhance the coverage by paying additional premiums.
- LIC Jeevan UmangIt is an individual and whole life insurance plan that offers dual benefits – income and security to the family. The plan provides yearly survival paybacks from the end of PPT till the date of maturity. A lump sum amount is paid at the maturity date or on the insured’s death during the policy tenure. Key Features
- The plan pays 8 percent of the sum assured amount each year on surviving the plan term.
- Flexibility in choosing the premium payment terms.
- Availability of riders such as accidental death, disability riders. They enhance the coverage by paying an additional premium.
- Offers wide coverage with 100 years’ protection.
LIC New Jeevan AnandLIC New Jeevan Anand Plan is an individual life assurance, non-linked and participating plan that offers an amazing combination of family protection and savings. It provides financial security against the policyholder’s demise throughout the policy tenure. Key Features The plan fulfills the requirements of liquidity by providing a loan facility. Rebates on premium payment terms are also applicable. Get the income tax benefits on paid premium as per prevailing laws of the Income Tax Act, 1961.Riders such as accidental death and disability riders are also available which can be opted for by paying an extra premium. Discounts on paying premiums are also valid under this plan.
- LIC Jeevan LabhIt is a non-linked and participating limited premium paying savings policy that provides dual benefits of protection and savings. It provides financial help to the policyholder’s family in occurrence of an unfortunate event during the plan term. Key Features
- The plan offers a limited premium payment option.
- Policy terms of 16, 21, and 25 years are available.
- It is a non-linked profit plan that provides wide protection along with assured returns to the policyholder.
- Loan facilities can be availed u/s 80C and 10(10D) of the Income Tax Act, 1961.
- Option to receive the death benefit in installments.
