LIC – Idnsek.com https://idnsek.com Indian Digital News,Service, Entertainment And Knowledge. Sat, 30 Sep 2023 19:22:17 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 https://idnsek.com/wp-content/uploads/2023/09/cropped-Idnsek-logo-32x32.png LIC – Idnsek.com https://idnsek.com 32 32 What is LIC Lapsed Policy Revival Scheme 2023? https://idnsek.com/2023/09/26/what-is-lic-lapsed-policy-revival-scheme-2023/?utm_source=rss&utm_medium=rss&utm_campaign=what-is-lic-lapsed-policy-revival-scheme-2023 https://idnsek.com/2023/09/26/what-is-lic-lapsed-policy-revival-scheme-2023/#respond Tue, 26 Sep 2023 19:54:12 +0000 https://idnsek.com/?p=1999 35 Views

The different plans have different premium charges, which the clients can pay according to the payment options given under the relevant plan. But, sometimes, due to non-payment of premium within the given timeline, a policy can get lapsed. The policyholder can revive a lapsed policy by paying the premiums with interest. LIC, acknowledging the clients’ satisfaction, has announced a Lapsed Policy Revival Scheme for 2023.

Overview of the Revival Scheme 2023

The Life Insurance Corporation of India (LIC) has announced its policy revival scheme for 2023. This scheme helps the customers who were unable to make premium payments for a maximum of five years from the last premium payment. The scheme offers the customers a chance to revive their lapsed policy in 2023 by paying the premium, including the late fee charges. The insurer authorizes more than 1500 satellite offices to execute the revival scheme without special medical tests. 

In this LIC Lapsed Policy Revival Scheme, the insurer offers the policyholders a deduction of up to 30% in the late fee charges. The rebate percentage depends on the types of policy and the range of LIC premium payment charges of every client. The scheme was launched in January 2021 and promised the policyholders a revival of specific eligible plans and concession in health requirements. However, high-risk plans like Term Assurance Plans, Health Insurance Plans, Multiple Risk Policies, etc., do not qualify for the benefit.

Terms and Conditions of the LIC Lapsed Policy Revival Scheme

Under the special revival campaign, the Life Insurance Corporation of India (LIC) launched the scheme, which facilitates the customers to revive their lapsed policies within a deadline through the approved satellite offices for performing the process. The insurer can restore most of the policies only on the declaration of good health of the policyholder. A basic Covid 19 questionnaire also has to be submitted by the life assured or the policyholder.

The concession in the late fee charges is divided into three parts for better understanding by the clients. They are:

  • For total receivable LIC premium payment up to a range of Rs 1 Lakh, a rebate of 20% is allowed in the late fee charges or a maximum concession of Rs. 2,000 is eligible.
  • For total receivable LIC premium payment within a range of Rs 1 Lakh to Rs 3 Lakh, a rebate of 25% is allowed for the late fee charges or a maximum concession of Rs. 2,500 is allowed.
  • If the total receivable LIC premium payment exceeds a range of Rs 3 Lakh, then the rebate for the late fee charges is 30%, or the maximum concession allowed is Rs. 3000.

These concessions are subjected to particular criteria and terms which shall be mentioned. Suppose the LIC premium payment remains unpaid for more than 5 years from the first due premium. In that case, the scheme will not be eligible for the relevant policyholders.


How to Check if a LIC Policy has Lapsed or Not?

To avail of the revival scheme, an individual must know their policy details and the time it lapsed. The easiest way to know about the policy details is to check the policy status, stating whether the policy is in force or expired. LIC offers various methods for checking the policy status, and the most user-friendly way is the online process. To avail of the method, one needs to register with the official portal.

  1. For New Users
    • Step 1: Visit the Customer Portal of LIC. 
    • Step 2: Click on “New User”
    • Step 3: Fill in the required credentials such as name, gender, date of birth, policy number, installment premium payment, registered mail id, and mobile no.
    • Step 4: Click “Proceed”
    • Step 5: Now, the customers can efficiently check the policy status from the online services.
  2. For Registered Users
    • Step 1: Visit LIC’s Customer Portal. 
    • Step 2: Click on “Registered User”
    • Step 3: Log in with the required details like name, date of birth, and registered mail id.
    • Step 4: After logging in, click on “Policy Status.”
    • Step 5: Due premium date, status, lapsed policy, unpaid premium quote are all accessible under this service.

Types of LIC Policy Revival Schemes

Various types of policy revival schemes are offered by the Life Insurance Corporation of India (LIC). These schemes aid the clients who were unable to make their LIC premium payments within the given timeline or the grace period of 30 days. The types of schemes are:

  1. Installment Revival SchemeThe Instalment Revival Scheme is designed to acknowledge those clients who cannot make premium payments all at once and prefer paying them in installments. The conditions which are needed to be mentioned under this scheme are:
    • No policy loans should remain unpaid during the time of revival under this scheme.
    • During the installment paying period, the survival benefits should be paid fully.
    • If a Child Deferred Assurance Policy, i.e., LIC child plan, is lapsed, the policyholder could make the revival payments after the agreed deferment period.
    • Policies under Salary Saving Schemes are not eligible for revival under this scheme.
  2. Loan cum Revival SchemeA lapsed policy can be revived under this scheme by recovering the premiums due from the amount available under the loan facility of the policy, given the terms and conditions. Following are the specific conditions that need to be followed under this revival scheme:
    • The difference between the loan amount and the pending premium charges has to be paid by the policyholder if the loan is insufficient to cover the whole premium amount.
    • On revival, the balance will be paid to the clients after adjusting the premium and interests accordingly.
  3. Special Revival SchemeUnder this scheme, the intimation date can be changed accordingly. The premium amount can be paid as per the policyholder’s age at the time of reviving the lapsed policy. There are certain norms and conditions which needs to be maintained to avail the special revival scheme –
    • Under this scheme, the policy can only be revived once within the term of the plan.
    • This scheme allows reviving the policy if it lapses for a period ranging between 6 months and 3 years from the last payment date or grace period.
    • The scheme demands a request in writing written from the policyholder, which is compulsory to submit to revive the policy.
    • The original initiation date can be modified by a maximum of 2 years to revive the lapsed policy under this scheme.
    • The clients must prepare stamp fees and other charges to revive the Money Back Plans.
    • The difference between the old and the new premiums, including interests, is charged accordingly under this scheme during the revival.
  4. Survival Benefit cum Revival SchemeThe Money Back policyholders can effortlessly renew their lapsed money-back policies under this scheme. But there are certain norms and conditions in availing the Survival Benefit cum Revival Scheme, and those are the following:
    • The policy will be revived and processed subject to prescribed conditions, which are eligible for modification from time to time. The same goes for loan applications.
    • The discharge of survival benefit must be presented to utilize the survival benefit cum revival scheme.

Importance of Revival of Lapsed LIC Policy

If the premium charges have been paid for several years, then reviving the policy will be beneficial and logical in the case of a long-term endowment policy. Reviving a lapsed policy and continuing with the LIC premium payment until maturity will provide the clients with maturity benefits. This maturity benefit will eventually increase the overall investment returns.

If an individual plan to buy a new plan instead of reviving the lapsed one, then the amount paid for the new policy can be more than the premium payments and interests of the lapsed one.

Online LIC Revival Quotation and LIC Premium Payment

Online services of LIC provide their clients with a wide range of services for better performance and efficiency. If a policy lapses, then it is vital to know the amount that will be needed to renew the policy. 

The feature of “Revival Quotation” in the insurer’s official customer portal has made it effortless for the clients to know about the due charges and plan accordingly. Any registered users can use this feature from the online services provided by LIC. A new user can sign up by following the steps mentioned earlier and using the feature.

After getting the revival quotation, paying the premiums, including interests and concessions, is essential, as mentioned in the 2021 scheme. An individual can pay their awaited premium charges online by logging into their respective customer portal account. After logging in, they can select the option of “Policy Renewal/ Revival” and fill in the required credentials. An individual can also make the LIC premium payments directly by providing the policy number and selecting the “Policy Revival” option.

Over to You

LIC Policy Revival Scheme 2023 is an excellent opportunity for individuals looking to renew their policies. Concessions of a certain percentage are lucrative to an already beneficial scheme that provides various revival processes.

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LIC Scheme: Return of Rs 8 lakh on depositing Rs 1800 every month, know the details of the policy. https://idnsek.com/2023/02/08/lic-scheme-return-of-rs-8-lakh-on-depositing-rs-1800-every-month-know-the-details-of-the-policy/?utm_source=rss&utm_medium=rss&utm_campaign=lic-scheme-return-of-rs-8-lakh-on-depositing-rs-1800-every-month-know-the-details-of-the-policy https://idnsek.com/2023/02/08/lic-scheme-return-of-rs-8-lakh-on-depositing-rs-1800-every-month-know-the-details-of-the-policy/#respond Wed, 08 Feb 2023 07:13:00 +0000 https://idnsek.com/2023/02/08/lic-scheme-return-of-rs-8-lakh-on-depositing-rs-1800-every-month-know-the-details-of-the-policy/ 28 Views

LIC keeps bringing LIC policy for every class of people in the country. Often women are far behind in buying insurance policies.

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In such a situation, LIC has launched a special insurance policy keeping women in mind. The name of this policy is LIC Aadhaar Shila Policy. All those women whose age is between 8 to 55 years are eligible to get the benefit of this scheme.
In this policy, women get benefits in many ways. In this policy, any woman can buy insurance for a minimum of Rs 75 thousand and a maximum of Rs 3 lakh.

Know what is this scheme?

Under this scheme of LIC, you can invest on quarterly, half yearly and yearly basis. Under this scheme, you can invest for a minimum of 10 years and a maximum of 20 years.

How to get benefit?

Let’s say you start the plan at the age of 30. And saving Rs 58 every day, you will deposit Rs 21,918 in LIC Aadhaar Shila Yojana in a year. You will invest Rs 4,29,392 over 20 years while getting a return of Rs 7,94,000 on maturity.

Who can take advantage of this?

LIC’s Aadharshila plan provides both security and savings. Only those women can take advantage of this, whose Aadhaar card is made. This plan of LIC provides financial help to the policyholder and the family after his death.(ads2)

Details of Aadharshila scheme- Minimum sum assured-

Rs 75,000
Maximum sum assured- Rs 3,00,000
Policy term- 10 to 20 years
Premium depositing period- 10 to 20 years
Maximum age of maturity- 70 years. 
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LIC Online Premium Payment. https://idnsek.com/2023/02/04/lic-online-premium-payment/?utm_source=rss&utm_medium=rss&utm_campaign=lic-online-premium-payment https://idnsek.com/2023/02/04/lic-online-premium-payment/#comments Sat, 04 Feb 2023 10:43:00 +0000 https://idnsek.com/2023/02/04/lic-online-premium-payment/ 37 Views

 Life Insurance Corporation of India (LIC) is one of the leading life insurance companies having a large customer base of 250 million.  Having a life insurance policy helps you to achieve long tenure goals and you can take care of your family members  in case of your absence. To provide the policyholders with the best insurance experience, the company constantly updates its services.

One such service is LIC’s online premium payment facility. Now, with the option of online LIC premium payment, you don’t have to pay your LIC premiums by directly visiting the branch when you can easily pay it online. With below-mentioned steps, LIC of India pay premium online in a couple of minutes.

LIC Online Premium Payment.
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What is LIC Online Premium Payment Facility?

LIC Online Premium Payment facility allows the customers to pay the premiums of their policy online in a couple of minutes. With a huge customer base, the company ensured that its policyholders do not need to wait in queues at the premium payment counter; and hence introduced this facility.

LIC policyholders have a multitude of options to make their LIC online premium payment. All they need to do is go online and make premium payments from the comforts of their home.

LIC Premium Payment Online: For registered/Non-registered users

LIC online premium payment is fairly easy and convenient as it can be done using a debit or credit card. The company allows both the registered and non-registered user to avail the facility of LIC premium payment online.LIC offers an option called LIC Pay Direct, which helps you to pay your LIC premium without completing the LIC online registration process.

To start the LIC online payment process, you need to first log in to the portal.

Let’s quickly understand how you can easily make online LIC payments both with registration and without registration.

LIC Online Premium Payment Process for Registered Users

Step 1: Visit the official website of LIC. Click on the ‘Customer Portal’ button, and then select the ‘Registered User’ button.

Now, you’ll be directed to the LIC login page.

Alternatively, you can click on the ‘Pay LIC Premium Online ’ option, which will open a new page and you will see the following two payment options:

  • Pay Direct (Without Login)
  • Through Customer Portal

Click on the ‘Through Customer Portal’ option to proceed.

Step 2: Enter your user ID/Email/Mobile, Password, and Date of Birth and hit the Sign-in button.

Upon clicking the ‘Sign in’ button, you’ll be redirected to the customer portal. On this page, you will find the ‘Self/Policies’ option.

Step 3: Now, click on the ‘Self/Policies’ option to view the details of your policy.

On this page, you will be able to see your LIC policy renewal/due date. ‘Pay Premium’ option will be on the screen if your policy renewal is due.

Step 4: Click the Pay Premium option to proceed and provide the required information.

Choose the payment option. Make the LIC online payment through credit and debit card or can also opt for net banking.

That’s it! Now, simply make the LIC premium payment.

Step 5: Don’t forget to check your registered email to see the online premium payment receipt. Print and download your LIC online premium payment receipt.

Isn’t it utterly easy and convenient? We’re sure you’re nodding your head in a yes!

Now, let’s move on and discuss how to make LIC payment online without having even registered to the LIC website as a new user.

LIC Online Payment Process for Unregistered User

Step 1: Visit the official website of LIC. Now, click the ‘Pay Premium Online’ button under the ‘Online Services’ tab.

Upon hitting the ‘Pay Premium Online’ button, you will be taken to a new page. Here you will see two options:

  • Pay Direct (Without login)
  • Through Customer Portal

Step 2: Now in this step, you need to hit the ‘Pay Direct’ button (without login).

Now, you are taken directly to the LIC online premium payments page. Here, you will need to select the Renewal Premium/ Revival option from the Pay Direct list.

Step 3: On the next page, click on the Proceed button to move forward and fill up the Customer Validation form with your vital policy details – Policy Number, Installment Premium, Date of Birth, Email Id, and Mobile number. Upon filling up the form, simply verify the ‘Captcha’ code, accept the agreement, and click on the ‘Submit’ button.

Step 4: Verify your policy details. Upon successful verification, hit the ‘Proceed’ button.

Step 5: In this step, select LIC online payment option. Choose how you want to make the LIC online payment through credit and debit card or net banking. Now simply make your LIC online premium payment.

Step 6: Remember to check your registered email to get the LIC premium payment receipts. Print and download the LIC online payment receipt for your records.

LIC Premium Payment Online Facilities

To pay your LIC premium online, you can opt for any of the below-mentioned payment methods:

  • Net Banking
  • Debit/Credit Cards
  • UPI

Renewal premiium amounts can be paid for active plans, excluding plans under salary saving schemes and plans registered for paying premiums through NACH.

LIC Premium Payment through Franchisees/Authorized Collection Centers

There are still many LIC customers who aren’t comfortable with the idea of LIC online premium payment services and they prefer to make their premium payments via offline payment modes. We’re sure they’ll be glad to know that LIC also provides several options to pay the premium via different private & government-owned service providers and companies. 4 service providers work in collaboration with LIC to ensure offline premium payment services for policyholders. They are:

  • AP Online – Andhra Pradesh Government’s official portal. This collection channel accepts LIC premium payments for Andhra Pradesh only.
  • MP Online – Madhya Government’s official portal. This collection channel accepts premium payments for Madhya Pradesh only.
  • Suvidha Infoserve – It is an s-commerce (social commerce) entity that provides various bill payment services.
  • Easy Bill Limited – It provides the customers with a reliable and convenient bill payment source, where you can make premium payments through the traditional and trustworthy neighborhood stores.

However, there are certain points to be taken care of while paying your LIC premium payments through these channels:

  • The payment will only be accepted in cash i.e., up to Rs. 50,000.
  • You can make the premium payment only for the active policies. Also, these collection centers don’t accept payments for the LIC policies that fall under ULIPs and SSS (Salary Savings Scheme) category.
  • This premium payment service is free at the franchisees or authorized collection centers and hence, the customer doesn’t need to pay any commission/service tax/extra fees to the agents.
  • One cannot pay the premium for the next financial year at these collection centers. For instance, you cannot pay the premium for March’2018 during March’2017.
  • Once you have made the payment, you’ll get a signed receipt from the collection center. It’s important to note that there is no separate payment receipt issued by LIC for such payments.
  • The late fee of paying premiums is calculated at the current rate i.e., 9.5 percent, and the minimum late fee is Rs. 5
  • You can look out for these Franchisees/Authorized Collection Centres on the official website of LIC.

Agents Collection Payment

LIC has also authorized select personnel, retired employees of LIC, and Senior Business Associates (SBA-Development Officers) as payment collection agents. Below enlisted are a few of the important details you need to keep in mind while making LIC premium payments via these authorized agents:

  • The collection agents can collect the premium payments for UPLIs, too; however, premium payment of health insurance policies is still not covered in it. The premium payment collected through this payment mode is updated in real-time.
  • You can make the payment in cash or cheque mode. However, it’s important to know beforehand that outstation cheques won’t be accepted by these collection agents.
  • You will receive a signed receipt from the collection agent after making the payment. SBAs have been issued, few more rights given to them as compared to two other personnel. Besides receipt, you can also get policy status reports, forms, revival/loan/surrender quotations, certificates meant for income tax usage and your ULIPs statements from the SBAs.
  • This payment mode doesn’t accept premium payments for policies falling under the SSS category.
  • You can make the advance premium payment only 30 days before the due date of your active policy. For some term plans, the advance premium payment can be accepted 15 days in advance (before the due date). The term plans under this category are:

  1. 164-Anmol Jeevan-1
  2. 153- Anmol Jeevan
  3. 177- Amulya Jeevan
  4. 190 Amulya Jeevan. 
  • A late fee will be charged to the policyholders.
  • Advance premium payments are not accepted for the next financial year.
  • You don’t need to pay any service fees to avail of this payment facility.

LIC Online Payment Options i.e. Credit/Debit Cards

Other than net banking, you can also use your credit/debit card to make the LIC online premium payment. The LIC online payment through credit and debit cards is processed via IDBI Gateway. The credit/debit card payment can be commenced in three easy steps:

After clicking on the circle against the option of ‘IDBI Gateway’, you’ll be redirected to the next page where you will find the different card types accompanied by convenience fee & services tax. Select the card type you want to make payment with and you’ll get the total payable amount along with the applicable service tax on it. Once you’ve selected the card type, click on the option ‘Submit’.

After submitting the card type, you’ll be redirected to another page where you will have to enter your debit/credit card details to process the transaction. The details include your card number, its date of expiry, CVV number (3-digit number on the back of the card), your name on the card, your registered email address, and your phone number. You also need to enter the captcha code shown in the box.

After entering all the required details, click on the option ‘Pay’. A LIC online premium payment receipt will be generated and will be sent to your registered email address with LIC.

Over to You

We’re sure now you’ll agree that it is easier than ever to make LIC online payments through credit and debit cards or net banking.  Now, go ahead and put this learning into practice and save yourself from the hassles of standing in long queues by paying for your LIC insurance policy online.

LIC Resources

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LIC PREMIUM PAYMENT ONLINE – FAQ

  • Q1. Do I need to pay extra fees for LIC premium payment online?

    Ans. No, you can make LIC Policy payment online for free of cost. The process is not only free of cost but also saves a lot of your precious time.
  • Q2. When Should the LIC premium be paid?

    Ans. The LIC premium should be done in time. Usually, the LIC sends a premium notice to the customers a month before the due month of the premium. The months for which the LIC premiums are due are mentioned on the first page of the LIC policy bond.
  • Q3. How to make the LIC premium payment?

    Ans. LIC offers various modes of payment to make it a hassle-free experience. You can pay the premium through: 

    • Cheque
    • Demand draft at the branch
    • Money order sent by post
    • Through Internet banking
    • Through Debit/Credit Cards
    • Standing instructions from your respective bank to remit the premiums
    • Via ATMs of Corporation Bank and UTI Bank
    • Premium can be paid via Electronic Clearing Service (ECS)
  • Q4. How to check the LIC policy status?

    Ans. By checking your LIC policy status at regular intervals, you can ensure whether it is active or lapsed. You can also check when the policy will expire. You can either check the LIC policy status online or visit the branch of the insurer from where it was issued.
  • Q5. How to revive the lapsed LIC policy?

    Ans. There are times when you might forget to make the timely LIC premium payment. In case the policy has lapsed because of non-payment of the premiums under the due date, the terms and conditions of the policy will be rendered void until the policy is revived. The lapsed LIC policy can be revived by the payment of the accumulated premiums along with interest.
  • Q6. Is it possible to avail of loans under the LIC policy?

    Ans. Now you can avail of loans against LIC policies. Most of these plans come with an endowment feature and thus, stand as collateral. You can repay the loan with the specific interest or allow the loan amount to be deducted while settling a claim. Loans on the LIC policy will be permitted after deduction of the past outstanding.
  • Q7. Is there any grace period for LIC premium payment?

    Ans. These days, insurance companies have come with an added benefit called ‘Grace Period’, in which a relaxation period is offered in case you miss the policy renewal date. To avoid lapsing the policy permanently, you need to pay the required premium within this period. Except for some plans, LIC offers 15 days as a grace period for the policies in which the premium has to be paid monthly. It offers a 1-month grace period for the policies with quarterly, half-yearly, or yearly premium payment mode.
  • Q8. What is the LIC claim process?

    Claims under the Regular Life Insurance Plans Death Claims:
    The person who is legally entitled to get the policy money must give the death intimation of the insured to the servicing branch. The requirements for the claim are mentioned below:

    • Claim Form ‘A’ in Form No. 3738: If the life insurance policy has been in effect for around 3 years or more than 3 years from the date of risks, claim form no. 3738A must be used.
    • Certified Extract from Death Register: The original copy of the policy documents with the Deed(s) of Assignment (s), if any. The beneficiary might require presenting additional requirements under a plan depending on the status of the policy.
  • Q9. How to change the nominee in the LIC insurance policy in 2022?

    Ans. The nominee in the LIC policy can be changed at any point in time while the policy is active. Besides, the change of nomination is possible from the LIC Branch that serves the policy. The change in the nomination of the LIC policy should be given in writing by the life assured.
    For the LIC policies that have the sum assured below Rs 75,000, the initial cancellation or change of nominee is done without any charges. From the second time onwards, fees will be charged. The following are some of the important documents that will be required while change in the nominee:

    • Relationship evidence of the policyholder and the nominated individual
    • Policy document
    • For 3750
  • Q10. How to get the LIC premium receipt online? 

    Ans. To download the LIC online premium payment, follow the steps below:

    • Visit the website of LIC of India. Next, under the ‘Online Services’ click on ‘LIC e-Services’.
    • In case the policyholder is a registered user then click on ‘registered User’.
    • Enter the login credentials
    • Select the suitable options of either an agent or the customer. Next, you will be redirected to the welcome page of ‘LIC e-Services’.
    • Two options namely ‘Individual Policy Paid Statement’ and the ‘Consolidate Premium Paid Statement’ will appear on the screen. To download the individual policy premium statement, select ‘Individual Policy Paid Statement’. To download, the statement of premium payment for every single policy bought from LIC select ‘Consolidated Premium paid Statement’.
    • Once the suitable option is selected, choose the fiscal year for the preferred statement and then choose the policy number.
    • The LIC premium payment receipt can be downloaded online likewise be printed and kept for record.
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New LIC Pension Plan: Modi government will give Rs 18,500 a month to married people! just have to do this work https://idnsek.com/2023/02/04/new-lic-pension-plan-modi-government-will-give-rs-18500-a-month-to-married-people-just-have-to-do-this-work/?utm_source=rss&utm_medium=rss&utm_campaign=new-lic-pension-plan-modi-government-will-give-rs-18500-a-month-to-married-people-just-have-to-do-this-work https://idnsek.com/2023/02/04/new-lic-pension-plan-modi-government-will-give-rs-18500-a-month-to-married-people-just-have-to-do-this-work/#respond Sat, 04 Feb 2023 10:26:00 +0000 https://idnsek.com/2023/02/04/new-lic-pension-plan-modi-government-will-give-rs-18500-a-month-to-married-people-just-have-to-do-this-work/ 17 Views

New LIC Pension Plan
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LIC Pension Scheme: Pradhan Mantri Vaya Vandana Yojana is being run by the Modi government. Under which monthly pension is guaranteed. This scheme was started by the central government on 26 May 2020. Couples can invest till 31 March 2023 to take advantage of this scheme. If both husband and wife want, then after the age of 60, they can take advantage of it. Know about the complete plan.

What is Vaya Vandana Yojana?

Pradhan Mantri Vaya Vandana Yojana is a social security scheme. Under which the beneficiary will get monthly pension. It has been brought by the Government of India, while this scheme is being operated by Life Insurance Corporation of India (LIC).

If both husband and wife have crossed the age of 60 years, then they can invest a maximum of Rs 15 lakh. Earlier the investment limit was Rs 7.5 lakh, which was doubled later. Compared to other schemes, senior citizens get more interest in this scheme. People of 60 years or above can choose this pension plan.

This is how you will get monthly pension of Rs 18500

If both husband and wife want to take advantage of this scheme, then both will have to invest an amount of 15 lakh rupees in the Pradhan Mantri Vaya Vandana Yojana, that is, a total of 30 lakh rupees. 7.40 percent annual interest will also be available on this scheme.

Accordingly, the annual interest on the investment will be Rs 222000. If it is divided in 12 months, then an amount of Rs 18500 is formed, which you will get as monthly pension. There is also a plan in this scheme that only one person can invest in this scheme. If you invest Rs 15 lakh, then the annual interest will be Rs 111000 and his monthly pension will be Rs 9250.

Full amount back in 10 years

This plan is for 10 years. Monthly pension will continue to be received on your deposited money. If you remain in the scheme for 10 years then after 10 years your invested money will be returned to you. You can surrender this scheme at any time.

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LIC Recruitment 2023: Golden chance to get job on these post in LIC, will get 56000 salary, apply soon. https://idnsek.com/2023/01/20/lic-recruitment-2023-golden-chance-to-get-job-on-these-post-in-lic-will-get-56000-salary-apply-soon/?utm_source=rss&utm_medium=rss&utm_campaign=lic-recruitment-2023-golden-chance-to-get-job-on-these-post-in-lic-will-get-56000-salary-apply-soon https://idnsek.com/2023/01/20/lic-recruitment-2023-golden-chance-to-get-job-on-these-post-in-lic-will-get-56000-salary-apply-soon/#respond Fri, 20 Jan 2023 17:59:00 +0000 https://idnsek.com/2023/01/20/lic-recruitment-2023-golden-chance-to-get-job-on-these-post-in-lic-will-get-56000-salary-apply-soon/ 19 Views

LIC AAO Recruitment 2023: Life Insurance Corporation of India (LIC) has issued a notification for the recruitment of Assistant Administrative Officer (LIC AAO Recruitment 2023).

For this, LIC has invited applications from candidates for recruitment to the posts of AAO (Generalist). Eligible candidates can apply for these posts (LIC AAO Recruitment 2023) started from January 15, 2023, by visiting the official website licindia.in.

LIC AAO Recruitment
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Candidates dreaming of becoming an officer in LIC can also apply for these posts (LIC AAO Recruitment 2023) through this link https://ibpsonline.ibps.in. Apart from this, candidates can also check the official notification through this link LIC AAO Recruitment 2023 Notification PDF. A total of 300 posts will be filled for these posts under LIC Recruitment (LIC AAO Recruitment 2023).

Salary for LIC AAO Recruitment 2023: The candidates who will be selected on these posts will get salary/pay scale of Rs. 56000/- per month + allowances will be given.

Application fee for LIC AAO Recruitment 2023: General / OBC / EWS category candidates will have to pay Rs 700 / – as application fee while SC / ST / PWD candidates will have to pay Rs 85 / –.

Age Limit for LIC AAO Recruitment 2023: The age limit of the candidates for this recruitment should be between 21 to 30 years as on 1.1.2023. Age relaxation will be given as per the rules of the government.

Vacancy Details for LIC AAO Recruitment 2023: A total of 300 posts will be filled under this recruitment process.

Eligibility Criteria for LIC AAO Recruitment 2023: Candidates must have Graduation in any stream from any recognized university or institute.

Selection Process for LIC AAO Recruitment 2023

The selection process includes the following steps:

  • Prelims written exam
  • Main written exam
  • Interview
  • Document verification
  • Medical test

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LIC Super Policy For Women! This plan of LIC is the best for women, get 8 lakhs every day at just Rs 58. https://idnsek.com/2023/01/13/lic-super-policy-for-women-this-plan-of-lic-is-the-best-for-women-get-8-lakhs-every-day-at-just-rs-58/?utm_source=rss&utm_medium=rss&utm_campaign=lic-super-policy-for-women-this-plan-of-lic-is-the-best-for-women-get-8-lakhs-every-day-at-just-rs-58 https://idnsek.com/2023/01/13/lic-super-policy-for-women-this-plan-of-lic-is-the-best-for-women-get-8-lakhs-every-day-at-just-rs-58/#respond Fri, 13 Jan 2023 11:17:00 +0000 https://idnsek.com/2023/01/13/lic-super-policy-for-women-this-plan-of-lic-is-the-best-for-women-get-8-lakhs-every-day-at-just-rs-58/ 22 Views

 

LIC Super Policy For Women
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LIC Aadhaar Shila Policy: If you are planning to invest in LIC’s schemes, then you can easily get good returns by investing small savings everyday in LIC’s Aadhaar Shila scheme. For this you have to invest only Rs.58 daily. Which you will get as a huge amount on maturity. Under this policy of LIC ( LIC India ), women from 8 years to 55 years can invest in it.

Please tell that LIC is a name of trust in a way. Even today, crores of people of the country prefer to invest money in LIC and Post Office. And LIC also never disappoints its customers. Under LIC’s Aadhaar Shila plan (LIC Aadhaar Shila), the customer will also be able to save money and will also give good returns. Also, on Maturity, the customer will immediately return their money. Under this scheme, even after the death of the policyholder, all the money is given to the nominee.

The specialty of Aadhaar Policy

  • LIC Aadhaar Shila Yojana is specially designed for women.
  • The minimum policy term is 10 years and the maximum is for 20 years.
  • The maximum age of this plan maturity is 70 years.
  • If the policy holder (LIC India) dies after 5 years of taking the policy, then in this situation the family will get the facility of Loyalty Addition on Maturity.
  • A lump sum amount will also be received at the end of the policy term.
  • Under the scheme, you will be able to invest Minimum 75000 rupees and Maximum 3 lakh rupees.
  • There is an option to make premium payment of this plan on monthly, quarterly, half yearly or yearly basis.(ads2)

This is how you will get big amount

Suppose, at the age of 30, you deposited Rs 58 every day for 20 consecutive years in this scheme, then a total of Rs 21918 will be deposited in your first year. On which you also have to pay tax at the rate of 4.5 percent. Then in the second year you will have to pay Rs 21446. In this way, you will deposit this premium on a monthly, quarterly, half-yearly or yearly basis. You will deposit Rs 429392 for 20 years on paying every year’s premium. After this, at the time of maturity, you will get a total of Rs 794000.

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