Product summary:
These are Deferred Annuity plans that allow the policyholder to make provision for regular income after the selected term.
Premiums:
Premiums are payable yearly, half-yearly, quarterly, monthly or through Salary deduction, as opted by you, throughout the term of the policy or till earlier death. Alternatively, the premium may be paid in one lump sum (single premium).
Tax Benefits:
Tax relief under Section 80ccc is available on premiums paid under New Jeevan Suraksha I (Table No.147). The premiums paid under New Jeevan Dhara I (Table No.148) qualify for tax relief under Section 88.
Bonuses:
These are with-profit plans and participate in the profits of the Corporation’s annuity / pension business. Policies get a share of the profits in the form of bonuses. Simple Reversionary Bonuses are declared per thousand Sum Assured annually at the end of each financial year. Once declared, they form part of the guaranteed benefits of the plan. Final (Additional) Bonuses may also be payable provided policy has run for a certain minimum period.
for further details contact:
Mr.Pradeep Diwan
Tel: 28050377/ 28055576
Fax: 28056748
Cell: 9324422924
pradeep@licinsurance.com
posted by srikanth....june26
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Thanks for sharing such a great information with us....I like it.... and i must agree with thisThe lump sum annuity dilemma has it's own roots in the uncertainty of our life . Once in retirement you may have little opportunity to work for money, should one run out of money before death.Means people closer to retirement are more likely to annuitize than seek a lump sum payment as compare compared to young people.lump sum annuity
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