Term Insurance

Term Insurance is pure life insurance plan. It is very famous insurance among investors as it protects only for a specific term. The premium is lowest in term plan as you don’g get any survival benefit.

Convertible Term Assurance Policy

Convertible Term Assurance Policy

Convertible Term Assurance Policy (Table No. 58) is a plan with an option to convert the policy to whole life limited Payment Assurance or Endowment Assurance at any time during the specified term, without under going fresh medical examination.

Convertible Term Assurance Policy is designed to meet the needs of those who are initially unable to pay the larger premium required for a Whole Life or Endowment Assurance Policy, but hope to be able to pay for such a policy in the near future. This plan is also good if you want to take decision on whole life policy later. May be you can make better decision in future.

Convertible Term Assurance Policy holders get an option of converting an policy into endowment assurance or limited payment whole life assurance.

Two Year Temporary Assurance

Two Year Temporary Assurance

Temporary Assurance policy (Table no. 43) caters to the individuals who specifically need insurance cover against risk for a short period of two years or less, for example, if you are going on tour for a year or two, you may consider a Temporary Term assurance plan.

LIC Temporary Assurance plan is for insuring non-insurance minded class of lives who require risk cover for a short period of 2 years or less. However, this plan is not allowed to pregant women, physically handicapped lives and when occupational extra chargeable.

Mortgage Redemption Assurance

Mortgage Redemption Assurance

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 Amulya Jeevan 1

Protect your loved ones from any unexpected surprises in life, any time.
Amulya Jeevan 1 (Plan No. 190) is a Term Assurance plan with minimum Sum Assured of Rs.25 lakh.
This is a pure Term Assurance Plan like Anmol Jeevan 1. In this plan Minimum S.A. is 25 lakhs. (Under Anmol Jeevan (Table No. 164) only policies with S.A. below 25 lakhs. are issued).

LIC

LIC Anmol Jeevan 1

Anmol Jeevan-I (Table No. 164) is a unique plan of assurance, by far the cheapest policy to buy; cheaper than even a whole life policy to start with. This plan is allowed to standard and sub-standard lives (up to Class VI EMR). In case of female lives, this plan will be restricted to Category I and II lives only. Physically handicapped persons falling under Group A will be eligible for this plan with the standard extra rates.