LIC Jeevan Vriddhi is a one time premium investment plan. This is also called as LIC FD plan because you get guaranteed return on your investment. This is the best plan for you if you are looking to invest your money for 10 years. LIC Jeevan Vriddhi (Table no. 808) offers guaranteed maturity amount plus Loyalty additions, if any. Along with the guaranteed return you also get 5 times insurance cover of the premium amount.

Benefits:

Death benefit:
On death of policy holder, Basic Sum Assured shall be payable to the nominee. The Basic Sum Assured will be 5 times of the Single Premium excluding extra premium, if any.

Maturity Benefit:
On maturity date, the Guaranteed Maturity Sum Assured along with Loyalty Addition, if any, will be given to policy holder.

Loyalty Addition:
LIC will also pay loyalty addition on date of maturity, if any. Loyalty addition is over and above your guaranteed sum assured.

Eligibility conditions for LIC Jeevan Vriddhi Plan

Min Entry Age: 8 years (completed)
Max Entry Age: 50 years (nearest birthday)
Min Basic Sum Assured: Rs.150, 000/-
Max Basic Sum Assured: No Limit
Min Premium: Rs.30,000/-
Policy Term: 10 years
Premium payment mode: One time premium

Loan:
Loan facility will be available under Jeevan Vriddhi plan, after completion of one policy year.

Tax benefit:
Tax benefit is available under section 80C on your premium amount and maturity amount will be tax free under Section 10(10)D.

Example: Assume Mr. Ramesh aged 20 years invest Rs.30,000/-. On maturity Mr. Ramesh will receive Rs.58,665/- And if Mr. Ramesh dies before the maturity period his nominee will get Rs.1,50,000/-

Note: This is close ended plan and will be available for maximum of 120 days from 1st March 2012. Jeevan Vriddhi is NOT an ULIP Plan.

LIC Jeevan Ankur is a child plan. Its conventional with profits plan, designed to meet the educational and other financial needs of your child. Jeevan Ankur is most suitable child plan for the parents of upto 17 years child. “LIC Jeevan Ankur” ensures that your responsibilities are met whether you survive or not and without depending on anyone else for financial assistance.

The policy will be on parents name however the child will be the nominee. The policy term will depend on the age of the child.

Death benefit:
Death during policy term: The nominee (your child) will get a basic sum assured and income benefit 10% of basic sum assured will be paid on every policy anniversary till the end of the policy term.

On death of child, Life Assured is alive: In this case, you will have the option to nominate another child and the policy will continue with the same benefit.

Maturity Benefit:
You will get the basic sum assured along with the loyalty additions if any.

Riders:
You have two riders to customize your Jeevan Ankur plan

1. Accident Benefit Rider
2. Critical Illness Rider

Eligibility conditions for Jeevan Ankur (Plan no.807)

Minimum Entry Age (Parents age): 18 years
Maximum Entry Age (Parents age): 50 years

Minimum Entry Age (Child age): 0 years
Maximum Entry Age (child age): 17 years

Minimum Term: 18 – Age of child or 8 years whichever is higher
Maximum Term:  25 – age of child

Minimum Sum Assured: 1 lakh
Max sum assured: No Limit

Premiums:
Premiums can be paid regularly at yearly, half yearly, quarterly or monthly (through ECS only). Alternatively, a single premium can also be paid.

Though LIC Jeevan Ankur is the child plan but policy holder will be the parents and not the child. This is the best plan for those who want to invest a lum sum in just one single premium instead of regular yearly premium. So why wait? Gift your child the special child insurance plan.