You only need to print out the status and present this document where it is needed. If you have, any queries regarding this table underneath, or any other aspect of Sukanya Samriddhi YojanaAccount, please do ask us,at our  Q&A page here – FAQ related to Sukanya Samriddhi Yojana Account, This table reflect maturity values for yearly investments i.e If you plan to make one lump-sum deposit in the Sukanya Samriddhi Account in a year, then you should refer this table. Policy provides for Death benefit, Survival benefit and Maturity benefit. When a child is born his/her parents starts planning for his/her future. When almost after a month he came to LIC of India office to renew his expired policy, he was appalled to know that now he had to pay extra charges along with interest to renew his policy. We previously had presented a calculator for our users so that they could find the maturity value for themselves. By checking the LIC India Policy Status you will get the complete information of your policy like how many premiums you need to pay, Maturity Benefit you will get, and other bonuses provided by the Corporation. This amount can either be used to meet his financial obligations or alternatively he can take an annuity plan to make provision for old age pension. LIC New Money Back Policy – (25 YEARS) Review, Who should invest in LIC New Money Back Policy, Benefits offered under LIC New Money Back plan, Surrender Value of LIC New Money Back Plan, Tax benefits under LIC New Money Back plan, Loan Facility offered under LIC New Money Back Policy, What happens if LIC Jeevan New Money Back Lapses, What happens if the LIC New Money Back Policy Holder Dies, What happens if the LIC New Money Back Policy is Closed before time, Free Look Period offered for LIC New Money Back plan, Who should invest in LIC Jeevan Shikhar Policy, Benifits offered under LIC Jeevan Shikharplan, Tax benefits under LIC Jeevan Shikhar plan, Loan Facility offered under LIC Jeevan Shikhar Policy, What happens if LIC Jeevan Shikhar Policy Lapses, What happens if the LIC Jeevan Shikhar Policy Holder Dies, What happens if the LIC Jeevan Shikhar Policy is Closed before time, Free Look Period offered for LIC Jeevan Shikhar plan, Who should invest in LIC Jeevan Saral Policy, Benefits offered under LIC Jeevan Saral plan, Loan Facility offered under LIC Jeevan Saral Policy, What happens if LIC Jeevan Saral Policy Lapses, What happens if the LIC Jeevan Saral Policy Holder Dies, What happens if the LIC Jeevan Saral Policy is Closed before time, Free Look Period offered for LIC Jeevan Saral plan, Who should invest in LIC Jeevan Labh Policy, Benifits offered under LIC Jeevan Labh plan, Loan Facility offered under LIC Jeevan Labh Policy, What happens if LIC Jeevan Labh Policy Lapses, What happens if the LIC Jeevan Labh Policy Holder Dies, What happens if the LIC Jeevan Labh Policy is Closed before time, Free Look Period offered for LIC Jeevan Labh plan, LIC New Childrenâs Money back plan (UIN 512N296V01), Benefits under the LIC New Childrenâs Money back policy, Optional benefits under LIC New Childrenâs Money back plan, Minimum Sum Assured under LIC New Childrenâs Money back plan, Mode and High Sum assured rebates under LIC New Childrenâs Money back plan, Loan Facility offered under LIC New Childrenâs Money back plan, Tax benefits under LIC New Childrenâs Money back plan, Free Look Period offered for LIC New Childrenâs Money back plan, Rebates for High sum assured and mode of payment under LIC Jeevan Tarun policy, Risk coverage age under LIC Jeevan Tarun policy, Loan facility under LIC Jeevan Tarun policy, Tax benefits under LIC Jeevan Tarun policy, What happens if LIC Jeevan Tarun Policy Lapse, Free look clause under LIC Jeevan Tarun policy. Moving on with the first method, you are required to make a registration by creating a user account and fill in the LIC policy details to view your LIC policy status. In addition, it provides risk cover on the life of the child. This makes this investment option, riskier but also more rewarding as they earn higher interest rate. Premiums to be paid is chosen by the policy holder as per his perceived capacity to pay and the monthly premium chosen as such will be multiplied by 250 to arrive at the sum assured under the plan. Rebate on High Sum Assured is available as below, Rebate on annual mode of premium payment is 2% and for half yearly mode is 1%. 3. There are numerous saving options which you can look into to save for your child’s future. The enrolment process is necessary to assist authorised access to specific functionalities provided by the LIC like request to change the address. For that, you no need to visit the nearest branch office. On the left side of the Home Page, you will see Online Services tab. Revival means to bring back to life. rajtechnews October 5, 2018 How To Check Your LIC Policy Status 2018-10-05T07:21:46+00:00 NEWS Checking your policy status from time to time is as important as buying the policy itself. In the earlier method, you need to make an appointment or wait for a representative to tell you the status of your policy. After taking this cover for 50 lakhs with an annual outgo of Rs.11500 approximately he will not have to worry about insurance as he is adequately covered. 1.On death during first five years of the policy: before commencement of risk return of single premium paid without interest. Now you have reached your account dashboard. You can check your policy while you are on a business trip in a different country halfway across the world and youâd still be able to get a status report. Follow, like, tweet or post. ⢠Either businessman/businesswoman, self-employed, employee or a professional For instance, if you opt for yearly mode you will get 2%% rebate on the premium and if you opt for half yearly mode you will get 1% rebate on the premium payable. On left side of your screen you can see a blue box, listing all the functionality. As mentioned before LIC New Jeevan Anand Policy is an endowment policy and it offers dual benefit of having both insurance and investment elements. Loan is available under this plan after 2 years of commencement for a policy with 10 years term and after 3 years of commencement for a policy with more than 10 years term. The registration will be successful and you’ll be logged into your account. This makes Child plans excellent investment option to secure your child’s financial future, even in the unfortunate event of your death. In other words, the sum assured is flexible and is determined by the policy holder himself when he opts for a particular quantum of premium that he opts to pay. Unique selling proposition of this plan is that it has a lot of flexibilities that are available mostly under the unit linked insurance policies even when it is an endowment plan with the inherent benefits of such plans. Now you donât need to have the internet rather can check your LIC of India policy status while on road by sending one SMS. That is nominee will get death benefit even after the expiry of the policy term and even after the maturity benefit has been paid under the policy. Detail of the functionalities are mentioned below on the page. Subject to conditions and years of premiums paid policy holder will be paid Guaranteed surrender value, special surrender value and full sum assured.  Why is checking your LIC policy status important? It is convenient as you will pay only once in a year and will have no botheration of paying twice (half yearly mode) of four times (quarterly mode) of paying the premium. Any survival benefits already paid will be deducted from the surrender value while paying the amount to the policy holder. Now you can check your LIC statement online by sitting in your drawing room. The unique selling proposition of child plans are that there is a premium waiver benefit under these plans which provides for continuity of the plan even in the event of unfortunate death of the proposer (parent /grandparent). Loan facility can be availed by the policy holder on the policy acquiring surrender value, that it when three annual premiums are paid. You can check the status of your LIC Pension Policy via SMS. Access your account by typing in your username and password on the log-in page. The plan is for the child aged 0 to 12 years and can be purchased by any of the parent or grandparent of the child. 2.1 Checking Your LIC Policy via Your Service Provider(At nearest LIC center), 2.1.1 Advantages of Checking your LIC Policy Status in Person, 2.1.2  How to Check Your LIC Policy in Person at your nearest LIC Policy Center, 2.2 Checking Your LIC Policy Status Online, 2.2.1 Advantage of Checking LIC Policy Status Online, 2.2.2 How to Check Your LIC Policy Status Online, 2.3 How to Check Your LIC Policy Status via Phone or SMSÂ. Through these online services again, the LIC provided to customers with many options to check their Policy status. You can track your LIC policy by visiting the LIC branch to get details about your policies or visit the LIC website and login to check the details. For those aged 8 years and above risk will commence immediately. There are different rates of premium for smoker and Non-smoker lives, and minimum sum assured is 25 lacs for smoker and 50 lacs for non-smoker with no maximum limit. If policy is closed before time that is before all the premium due are paid there are two situations: In the event of the policy holder finding any of the policy condition not according to what was explained by the agent or company representative or he finds certain conditions not suited to him he can return the policy within 15 days of its receipt to the office of the company. 1. This is different approach than the traditional approach of purchasing an endowment policy which although is an insurance cum investment plan but is not so paying approach in the current low interest scenario and its return may be lesser than even a bank fixed deposit although unlike a bank fixed deposit it provides risk cover also.. No medical is required under the policy and a rebate for yearly and half yearly mode of payment of premium is available @ 2% and 1% respectively. Accidental and term riders can be obtained by payment of nominal extra premium. USP of the policy is continued coverage of death risk of the policy holder even after he takes the maturity amount under the policy. Once premium is paid the policy will be received in about 15 days. There are a total of seven options. So unless your kid is currently 6-7 years old already, this figure is irrelevant for you. He will be entitled to 100% of maturity sum assured is more than five years premiums has been paid. Accident benefit will not be included in order to compute the surrender value. Death Claim: there is no tax liability on death claim paid under the plan irrespective of the amount paid. The policyâs unique selling proposition is that it can provide more coverage while the life assured pays for a limited term. Guaranteed nature reduces the amount of returns, but allow for investors to plan their goals in a stable manner. However, if at least three full years premiums are paid and any subsequent premium is not paid non-forfeiture regulation operates and policy is not wholly void but the sum assured shall be proportionate to the premiums paid and such value is payable to the policy holder. For this policy of 25-year term the premium payment is limited to 20 years only. You will be covered for all risks enumerated in the policy from date of commencement of the policy. This policy is a money back plan with 20 years premium paying term and 25 years policy term for maturity that is premium paying term is lesser than the term of the policy implying that 5 years more risk cover is available. There is loan facility also in the policy which provides for liquidity needs of the family at any time during the term of the policy after it has acquired surrender value. On death, Basic sum assured plus loyalty addition till date of death will be paid. Accidental benefit is available as a rider. You will also be required to create an account so you will need a username and a strong password. LIC Policy Status check is necessary because it helps you know the next premium due date. Listed in this the 3rd option is âCustomer Portalâ. With almost every provider offering this kind of service, thereâs no excuse not to check your policy. If you click the “yes” tab for “Do you have any LIC policy?” you will get an online LIC policy enrolment form, after clicking on the submit button to complete the Registration. Up to 3 years 55% of surrender value 35% of surrender value If life assured commits suicide within 12 months of policy commencement only 80% of premiums paid are refunded. Bonuses are the additional cash value that is paid at the time of death or the end of the tenure of the policy. It combines the advantages of endowment insurance and a non-linked plan guaranteeing safe investment, secure returns and risk cover. Checking your LIC policy status will assure you that your payments are being applied to your policy accordingly. Since it does not have an investment component it is the cheapest product available with lic with roughly 25 lakh risk cover at a premium as low as Rs.5000/- yearly for lower age groups. No amount of death claim received under this plan is taxable. ⢠Another reason to use this method of checking the LIC policy is that you can find out immediately what your policy status is. Accident benefit rider is available subject to these conditions: Premium paid under this plan is eligible for exemption under section 80 (c ) of the income tax act. In other words, all death claim irrespective of the amount is completely exempted from income tax. There will be no rebate on quarterly or monthly mode of paying the premium. Online facilities can be used 24/7. By 2033 a MBA is already costing approx. At the time of checking the policy online, you can also find the ‘Feedback’ link, which can be used to send queries and valuable suggestions. IVRS is made available 24x7, in almost all the cities. In case he opts for this benefit he will be paid additional accidental sum assured which will be in addition to the basic sum assured under the plan. This makes it doubly beneficial as compared to a term insurance policy (which has only insurance element). LIC offers some method by which you can check your LIC policy status Online without reaching your LIC branch. Step 2:After that click on the LIC e-Services link, it’ll redirect you to the next page where you’ll see ‘New User’ Tab. Thus, providing financial support y at the time the family at the time it needs the most. The policy details namely, policy name, policy term, table number, next premium due date, sum assured etc. Similarly, a rebate of Rs.2/- per thousand sum assured will be given for sum assured of Rs.2 lacs and above and a rebate of Rs.3/- per thousand will be given for sum assured of Rs.5 lakhs and above. It will include Sum Assured under the policy plus accrued bonus plus Final Additional Bonus. Once the premium is paid you will get the policy document in about 15 daysâ time giving entire policy conditions including date of commencement, date of maturity, premium amount and mode of paying premium and maturity date and sum assured. If you want to check your LIC policy status, there are many easy ways to check the status online or even offline. The monthly premium amount multiplied by 250 will amount to sum assured under the policy which becomes the basic amount that is payable to him /nominee on Death/maturity. The sum that you can avail from your policy in the form of loan, To Check the Status of Nomination Details, You can know about the details of the nominations. Now you are on ‘LIC Online Service Portal’ page. You can do this anytime you want. If you do not want to download your policy number immediately after you complete with the Registration process, you can do it any time later. *All savings are provided by the insurer as per the IRDAI approved insurance plan. In order to get information about the policy status, you can simply call the customer care officials and state your policy number. This plan has all the benefits of a conventional plan e.g. ⢠Decent insurance cover along with Maturity benefit: If policy holder survives the term of the policy he will be paid sum assured under the policy plus accrued bonus plus final additional bonus. In case of any error in the policy information, a email informing you of the same will be sent to your Email ID. Remember too that paying your premiums is necessary to keep your policy in force. A email will be sent to the email ID you provided while creating your LIC account, informing that the policy has been added to your account. There are various methods to check everything about any LIC policy, including premium due date, bonus, maturity, etc, people forget to check the status of their life insurance policies and pay extra charges. Certified extract from death register. Thus a person in higher age bracket will have lesser premium paying term although his premium rate will be a bit higher due to his higher age. Now you can login to your LIC Account using the User ID and password. Thus, Jeevan Amulya policy gives him an opportunity to invest in alternative avenues. Create your new LIC account by entering relevant details. You invest before 10th of April every year, since interest for the month is paid for funds invested before 10th only. This has made life easier for the innumerable LIC policy holders across the country. 06 Registration Code No. For instance, in the above example a 33 years old person taking a 25 years term plan will have to pay premium only for 16 years while he will enjoy risk cover for 25 years. The parents become proposer under these plans and child is the life assured. Both processes of checking your policy should be fairly easy. A myriad of online services is offered by Life Insurance Corporation to equate the transactions and to attend the affairs of its consumers promptly. The plan is beneficial to those persons who want to receive periodical payments during the term of the policy as survival benefits. Claim Form 'A' in Form No.3783. It means there is no need to go to an LIC office and stand in a queue. The eligible age group is 8 years to 9 years of age. The remaining 40%of the sum assured is paid at the time of maturity of the policy along with simple reversionary bonus and final additional bonus. This age group can take a term suitable for their age when they would need the maturity amount and meet their financial obligations. Sum Assured will be calculated as higher of 125% of basic sum assured or 10 times the annual premium paid subject to a minimum of 105% of total premium paid till death. The policy covers death benefit, accidental and disability benefits (if accidental and disability riders are taken), and if policy holder survives the term of the policy he gets maturity benefit. These values are calculated assuming certain factors, which are as follows: LIC New Jeevan Anand Policy is perfect for you if you like to take an insurance plan that gives a: You can opt for monthly, quarterly, half yearly or annual mode of paying premium. You will be redirected to a page where you will be able to link or enrol your policy with your user account. The unique feature of this plan is that it is a single premium plan meaning thereby that premium is to be paid only once at the time of inception of the plan and all the benefits under the plan will be determined by the quantum of premium paid. But as the insurance evolves in India it will move towards pure insurance. To check your LIC policy, you only need to drop by your service providerâs office and seek the assistance of a representative. All Rights Reserved.. *Please note that the quotes shown will be from, See how age affects Term Insurance Premiums, Written By: PolicyBazaar - Updated: 11 December 2020. Policy provides loan facility to the policy holder after 3 months of date of issuance of the policy or after expiry of free look period whichever is later. Hence we have scraped the calculator and have instead presented a chart with different yearly investment amount and their expected maturity value. On this page you need to choose your User ID, and password. A rebate of 2% will be given if policy holder opts for yearly mode of payment of premium and a rebate of 1% will be given for half yearly mode of payment. The policy is most suited to young persons who are starting their professional careers, providing for their risk cover as well as a decent return on their investment. The unique selling proposition of this policy is that it covers the full risk of the life assured even when he receives periodical survival benefits after 5,10,15 and 20 years of the policy at the rate of 15% of the sum assured for each survival benefit, which means he will be having lesser burden to maintain/ finance his policy as the survival benefits received will be substantial support to sustain his policy as well as survival benefit payments after every five years being a financial support for his financial needs. After taking a decision to opt for this product the proposer can take the policy either directly going to a branch or through an LIC agent or a broker. 3. Table 836, UIN-512N304V0I, is an endowment plan that gives a decent return as well as covers the Life risk and accidental risk of the life assured during the term of the policy. Aap policy par click karke yeh bhi dekh sakte hai, ke policy ka nominees koun hai. Feedback Form Policyholders may use the âFeedbackâ link to send their queries and valuable suggestions / comments. Therefore timely payment of premiums is important. Pure insurance like Jeevan Amulya provide high insurance coverage for comparatively lesser premium. How to make registration online and check LIC policy status is described in the subtopics below. You should bring with you a valid ID and your LIC policy number when you visit for our appointment. Dealer ka kya naam aur number hai. Policy earns loyalty additions after it has run for at least nine years that is after nine premiums have been paid. He can have a long-term policy with an accidental and disability rider which will cover his insurance needs as well as can provide a decent return on maturity of the policy. You will still need to enroll your LIC policy for this service in most cases. Through Online LIC official portal; SMS- helpline; Customer care. If your policy lapses, you can revive your policy any time within a duration of 5 years. It is a non-linked plan that is it is not linked to the companyâs investment in the share market meaning thereby that returns on this policy is independent of LICâs investment in stock market. Survival benefits: Survival benefits paid under the policy does not attract income tax. given by you for creating your User ID should not be associated with any other User ID already registered on the portal. Online payment: It is the very recent updated facility to all the account holders, and it gives the clyster clear it gives more satisfaction and hopes for their investments to the Life Insurance policy. LIC India is a large organization with more than millions of LIC customers all across India and in order to ensure better service for everything they have set up customer care support through which cnay LIC customer can call and get their queries or questions resolved which can also be related to the policy status. Extended risk cover is allowed for one year after three years premiums are paid. Once you have enrolled your account, you will receive a confirmation that your registration was successful. Now customers can buy any policy and check their status from the comfort of their home. 4th to 6th yrs. Step 5:After choosing User ID and password of your preference hit the Submit button. Death, survival and maturity benefit: for these benefits exemptions are available under section 10(10) D of income tax act. ‘Do you have any LIC Policy?’, with choice for Yes/No. It would be Sum Assured plus vested bonus accrued under the policy till the date of death plus final additional bonus. 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