LIC & PRODUCTS

Made by:
Shilpi
Anchal

“Zindagi ke saath bhi,Zindagi ke baad bhi”

 Superannuation
• The act of discharging someone because of age (especially to
cause someone to retire from service on a pension)
• a monthly payment made to someone who is retired from
work
 Superannuation Fund
Superannuation fund is a contribution made by the
employer each year(usually it is 10-15% of the
basic salary of the employee) on the behalf of
the employee towards the Group Superannuation
policy held by the employer.
& in case of Individual Superannuation funds, the
employee contributes based on the
superannuation premium decided thereafter.
 Features of superannuation scheme
• It is a voluntary scheme best suited for tax planning.
• Company contributes upto 15% of basic wages (maximum
cont.)
• Applicable law is income tax act, 1961 and rules thereunder.
• We can invest funds / in house or can invest with lic.
• Lic acts on the advice of board of trustees and the trust
rules framed by the company given to them while taking
policy.
• Fund is created under an irrevocable trust recognised under
the income tax act, 1961.
• Different employers put different clauses of mandatory
service from 1 to 10 years. mandatory service in a
model case it is
• Upto 1 year - nil
• Upto 2 years - 50%
• More than 2 years - 100%
 Features

• Premiums
• Tax Benefits

• Bonuses

• Death Benefit
Introduction:
It is an Immediate Annuity plan, which can be purchased by paying a lump
sum amount. The plan provides for annuity payments of a stated amount
throughout the life time of the annuitant. Various options are available for
the type and mode of payment of annuities.
Options Available:
The following options are available under the plan
Type of Annuity:
i. Annuity payable for life at a uniform rate.
ii. Annuity payable for 5, 10, 15 or 20 years certain and thereafter as long as
the annuitant is alive.
iii. Annuity for life with return of purchase price on death of the annuitant.
iv. Annuity payable for life increasing at a simple rate of 3% p.a.
v. Annuity for life with a provision of 50% of the annuity payable to spouse
during his/her lifetime on death of the annuitant.
vi. Annuity for life with a provision of 100% of the annuity payable to spouse
during his/her lifetime on death of the annuitant.
You may choose any one. Once chosen, the option cannot be altered.
Salient features:
• Premium is to be paid in a lump sum.
• No medical examination is required under the plan.
• No maximum limits for purchase price, annuity etc.
• Minimum age at entry 40 years last birthday and Maximum age at
entry 79 years last birthday.
• Age proof necessary.
• Minimum purchase price : Rs.50,000/= or such amount which may
secure as under:
• Annuity is the income from capital investment paid in a series of
regular payments.
• Mode: Annuity may be paid either at monthly, quarterly, half
yearly or yearly intervals. You may opt any mode of payment of
Annuity.
• LIC's JEEVAN NIDHI is a with profits Deferred Annuity (Pension) plan. On survival of the
policyholder beyond term of the policy the accumulated amount (i.e. Sum Assured + Guaranteed
Additions + Bonuses) is used to generate a pension (annuity) for the policyholder. The plan also
provides a risk cover during the deferment period. The USP of the plan being the pension can
commence at 40 years.  The premiums paid are exempt under Section 80CCC of Income Tax Act.
• Salient Features:
a . Guaranteed Additions:  Guaranteed Additions @ Rs.50/- per thousand Sum assured for each
completed year, for the first five years.
b. Participation in profits: The policy shall participate in profits of the Corporation from the 6th
year onwards and shall be entitled to receive bonuses declared as per the experience of the
Corporation.
c. Benefit On Vesting:
1. Option to commute up to 1/3rd of the amount available on vesting, which shall include the Sum
Assured under the Basic Plan together with accrued Guaranteed Additions, simple Reversionary
Bonuses and Terminal Bonus, if any.
2 . Annuity as per the option selected: Annuity on the balance amount if commutation is
exercised, otherwise annuity on the full amount.
d. Annuity Options:
On vesting, the annuity instalment, mode of annuity payment and type of annuity which shall be
made available to the Life Assured (Annuitant) / Nominee will depend upon the then prevailing
Immediate Annuity plan of the Life Insurance Corporation of India and its terms and conditions.
 LIC POLICIES…
• Lic Jeevan anand: LIC Jeevan Anand is a good whole life plan. It has the wonderful returns
and extremely helpful plan. Entire Life Plan + Endowment guaranteed Plan.
•
Lic Jeevan saral: LIC's New Jeevan Saral Monthly Recurring Scheme Jeevan Saral ATM
Plan Table No 165. Jeevan saral policy by Lic of India which is also called ATM plan. Jeevan
Saral offers insurance with money liquidity and tax saving. Awarded best innovative Insurance
product from IRDA (Golden Peacock Award Winner Policy international award)

• SPECIAL FEATURES: 
Lic new bima gold Policy:  Table-179 It is a plan where premiums paid over the term of plan
are paid back during the policy term in installments and life insurance cover is available not
only during the term but also during the extended term of the plan.
LIC Jeevan Tarang: Table 178 this is a with-profits whole of life plan which provides for
annual survival benefit at a rate of 5½ % of the Sum Assured after the chosen Accumulation
Period. The vested bonuses in a lump sum are payable on survival to the end of the
Accumulation Period or on earlier death. Further, the Sum Assured, along with Loyalty
Additions, if any, is payable on survival to age 100 years or on earlier death.
• Lic Pension Plan Jeevan Nidhi: LIC's JEEVAN NIDHI is a with profits Deferred
Annuity (Pension) plan. 
•
Lic Pension Plan Jeevan Akshay VI: It is an Immediate Annuity plan, which can be
purchased by paying a lump sum amount. The plan provides for annuity payments of a stated
amount throughout the life time of the annuitant. Various options are available for the type
and mode of payment of annuities.
•
Lic Pension Plan New Jeevan Dhara-I: These are Deferred Annuity plans that allow the
policyholder to make provision for regular income after the selected term.
•
Lic Pension Plan New Jeevan Suraksha-I: These are Deferred Annuity plans that allow the
policyholder to make provision for regular income after the selected term.
Lic Tarm Policy Amulya Jeevan – I: Death Benefit: In case of unfortunate death of the Life
Assured during the term of the policy, Sum Assured is payable, provided the policy is kept in
force.
•
Lic Tarm Policy Anmol Jeevan-I: On Death during the Term of the Policy, Sum Assured.
•
Lic Children plans Child Career Plan: This plan is specially designed to meet the
increasing educational and other needs of growing children.
•
Lic Children plans Child Future Plan: This plan is specially designed to meet the increasing
educational, marriage and other needs of growing children.
• Lic Children plans Marriage Endowment or Educational Annuity Plan: This is an Endowment
Assurance plan that provides for benefits on or from the selected maturity date to meet the
Marriage/Educational expenses of the named child.
•
Lic Children plans Jeevan Kishore: This is an Endowment Assurance Plan available for children
of less than 12 years of age. The policy may be purchased by any of the parent/grand parent.
•
Lic Children plans Komal Jeevan: This is a Children's Money Back Plan that provides financial
protection against death during the term of plan with periodic payments on survival at specified
durations. This plan can be purchased by any of the parent or grand parent for a child aged 0 to 10
years.
•
Lic Children plans Jeevan Anurag: Jeevan ANURAG is a with profits plan specifically designed
to take care of the educational needs of children.
•
Lic Children plans Jeevan Chhaya: This is an Endowment Assurance plan that provides financial
protection against death throughout the term of the plan. Besides payment of Sum Assured
immediately on death, one-fourth of Sum Assured is payable at the end of each of last four years of
policy term whether the life assured dies or survives the term of the policy.
•
Tax Savings - buy life insurance is to avail tax benefits under section 80C up to the limit of Rs.
1,00,000 annually
Financial Planning: LIC Term, Endowment, Pension, Child, Money Back, best lic life insurance
policy
 PRODUCTS…
• Insurance Plans
• Pentions Plans
• Unit Plans
• Special Plans
• Withdrawn Plans
 Insurance Plans
• As individuals it is inherent to differ. Each individual's
insurance needs and requirements are different from that of
the others. LIC's Insurance Plans are policies that talk to you
individually and give you the most suitable options that can
fit your requirement
• Bima account
• Endorsement account
• Children plans
• Money back plans
• Whole life plans
• Joint life plans
 Pension Plans
• Pension Plans are Individual Plans that gaze into your future and foresee
financial stability during your old age. These policies are most suited for
senior citizens and those planning a secure future, so that you never give
up on the best things in life.

Pension Plus
• Jeevan Nidhi
• Jeevan Akshay-VI
• New Jeevan Dhara-I
• new Jeevan Suraksha-I
 UNIT PLANS…
•  Unit plans are investment plans for those who realise the
worth of hard-earned money. These plans help you see your
savings yield rich benefits and help you save tax even if you
don't have consistent income.

Samridhi Plus
• Pension Plus
• Endowment Plus 
  
 SPECIAL PLANS
• LIC’s Special Plans are not plans but opportunities that
knock on your door once in a lifetime. These plans are a
perfect blend of insurance, investment and a lifetime of
happiness!
>GOLDEN JUBLIE PLAN
New Bima Gold
>HEALTH PLAN
Health Protection Plus
>SPECIAL PLANS
Bima Nivesh 2005
Jeevan Saral 
>MICRO INSURANCE PLANS
  Jeevan Madhur
Jeevan Mangal
 WITHDRAWN PLANS…
   Jeevan Nischay
 Market Plus I
 Wealth Plus
 Profit Plus
 Jeevan Aastha

Money Plus-I
 Jeevan Varsha
 Child Fortune Plus
 Fortune Plus
 Jeevan Saathi Plus
 Health Plus