LIC Jeevan Lakshya is a conventional plan with an option of limited premium payment. LIC Jeevan Lakshya is an excellent plan with innovative features. This plan was launched in March 2015 and is a profit linked endowment assurance plan. LIC Jeevan Lakshya is basically designed to cater the needs of children and provides the benefit of annual income. Moreover, the plan also provides maturity benefit to the policyholder. Depending upon the requirements of the customers the plan offers some exquisite features and benefits. To help you know more about the plan, here we have briefly reviewed the key features and benefits offered by the policy. Salient Features of LIC Jeevan Lakshya Policy
Benefit of LIC Jeevan Lakshya The policy offers various benefits to the policyholder - · Maturity Benefit – In case, all the premiums are dully paid by the insured person and if he/she survives the entire tenure of the policy then the maturity benefit is paid to the insured person after completion of the policy tenure. The maturity benefit paid to the insured inculcates the sum assured amount along with final additional bonus and simple reversionary benefits, if any. There is no difference between the sum assured on Maturity and basic sum assured · Death Benefit – A death benefit is offered to the beneficiary of the policy in case of demise of the insured person. The death benefit is provided as the sum assured amount along with final additional bonus and simple reversionary bonus, if any. · Tax Benefits – LIC Jeevan Lakshya also provides tax benefit on the premium paid and maturity proceeds under section 80C and 10D of income tax act. Optional rider benefits is also offered LIC Jeevan Lakshya In addition to the basic coverage anadd-on coverage offered to the insured as rider benefit. . 1. Accidental Death and Disability rider- During the premium paying tenure the insured can avail LIC Jeevan Lakshya accidental death and disability benefit rider. This is one of the most significant benefits offered by the policy. This rider comes in action in case of accidental demise of the insured person. 2. New Term Assurance Rider- This rider is available on the payment of additional premium at the beginning of the policy. The amount is to be paid along with the basic plan of LIC Jeevan Lakshya Policy. One of the advantage offered by this rider is that in the case of death of the insured during the tenure of the policy, an additional amount equal to the term assurance rider sum assured is payable to the insured as long as coverage of the plan rider is applicable. To know more about LIC or other plans visit: Policybazaar.com
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HDFC Life Progrowth Plan is a Unity Linked Insurance plan that offers the dual benefit of life insurance coverage along with an option to invest in different funds like equity, debt, share, etc. The plan does not inculcate any bonus facility as it is a non-traditional insurance plan. Under this plan the insured needs to pay the premium till the end of the policy tenure.
The insured can chose from the 5 fund option offered by the policy for investment. HDFC Pro-growth plus is known as one of the most sought after investment options as the plan offers you great saving option in order to secure your future. HDFC Life Progrowth Plus is offered in two variants
HDFC progrowth Plus is not a fixed deposit plan. To help you know more about the plan, here we have discussed the features and benefits offered by the plan. Some of the Salient Features of the Policy are:-
Benefits offered by HDFC Life Progrowth Plus Death Benefit- In case of unfortunate death of the policy holder the beneficiary of the policy receives death benefit as higher of sum assured or fund value and the tenure of the policy comes to an end. Maturity Benefit- If the insured survives the entire tenure of the policy then the fund value is paid as maturity benefit to the policy holder. Income Tax Benefit- Under section 80C of Income Tax Act the premium paid up to Rs1,00,000 are allowed for tax deduction and the maturity proceeds are tax free under section 10D of Income Tax act. Add-on Benefit- However the plan does not offer any add on benefit as rider but the extra life option has inbuilt accidental death benefit rider. HDFC Porgrowth plus offers a free loom period of 15 days under which the insured can cancel the policy if he/she is not satisfied with the terms and conditions of the plan. Moreover, the plan also provides a grace period of 30 days under which the insured can pay the due premium if he or she fails to pay premium on time. If you want to make investment along with saving, then HDFC Progrowth plan is the most beneficial plan that you can opt for. |
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