Month: October 2010

Mortgage Redemption Assurance

Mortgage Redemption Assurance

1 Comment / Discontinued Plan, Term Insurance / By

Mortgage Redemption Assurance policy (Table No. 52) (without profits) is designed to meet the requirements of the policy holding individual who want to ensure that all his outstanding loans and debts are automatically paid up in the event of his unfortunate death. If you have a home loan or any other loan or debt then this policy is for you.

Under the Mortgage Redemption Assurance policy (without profits), proposar will have to pay the medical examination fee.

LIC Mortgage Redemption policies are usually issued only to male lives aged 50 years or less.

LIC Child Future Plan

LIC Child Future Plan

77 Comments / Childrens Plan / By

LIC India Child CAREER plan Table 184 & Child FUTURE Plan Table 185
When it comes to your child career and future, you don’t want to take risk. Every parent want to give their child finest education and future. If you want to secure your child’s future then this is the best LIC plan for your child. LIC has two best Children’s Plans – LIC’s Child’s Career Plan and Child FUTURE Plan. Both child plans are available for age group of 0 to 12 years.

Features:
The unique features of the twin plans are commencement of risk from the age of 5 years of the child subject to deferment period of 2 years, auto risk cover in case of non-payment of premiums for 2 years and free risk cover equal to the sum assured during extended term of 7 years from the date of maturity.

LIC Child Career Plan

LIC Child Career Plan

31 Comments / Discontinued Plan, Childrens Plan / By

LIC Child Career Plan Summary:
LIC Child Career Plan (Table 184) provides funds at regular yearly intervals for professional or higher education and start-in-life in the form of 6 money back installments commencing from minimum age of 18 years. So your child will get money when they really need it.

Child’s Career Plan (Table no. 184, with profits)
Under Child’s Career Plan
vested bonus is payable along with first survival benefit of 30% of sum assured followed by subsequent 5 annual survival benefits @15% of sum assured. Thus total returns being 105% of basic sum assured + vested bonus and terminal bonus, if any.