LIC Jeevan Kishore Plan – LIC is perhaps of the most confided in guarantor in India. With a tremendous client base of more than 250 million customers, the organization offers an extensive variety of insurance contracts to guarantee exhaustive monetary security for every one of its policyholders. It is troublesome not to discuss Jeevan Kishore Strategy (Table no.102). Presented in 1990, this LIC plan is a taking part, benefit connected Blessing Confirmation Plan with a large number of astounding elements and a large group of advantages. It offers its policyholders the double advantages of investment funds and monetary security.
LIC Jeevan Kishore Plan 2024 is an ambitious insurance scheme that will make it easier for people to access affordable health care. The scheme will be available to everyone, regardless of their location, income level, or medical history. It will also be available at a fraction of the cost of other healthcare options, such as private hospitals and diagnostic centers. The Jeevan Kishore Plan 2024 is expected to cover around 80% of the population, making it one of the largest healthcare initiatives in India’s history.
LIC Jeevan Kishore Plan 2024
LIC Jeevan Kishore Plan is a Blessing Confirmation Plan for a youngster with the end goal that Total Guaranteed in addition to Reward would be paid for the kid’s advantage on the term’s development. The proposer can additionally get his kid’s future by picking Premium Waiver Advantage rider, with the end goal that on the off chance that he kicks the bucket before the arrangement develops, the future expenses would be postponed. There are extra rider benefits like Premium Waiver Advantage. When the youngster achieves larger part, the approach gets moved to his name and afterward he can likewise settle on Incidental Passing Advantage rider by paying extra premium.
LIC Jeevan Kishore Plan 2024 – LIC has introduced a new Jeevan Kishore plan 2024 that offers a wide range of benefits to its policyholders. The policy offers a death benefit of up to Rs 2.5 lakh and an accidental benefit of Rs 1 lakh. Policy also has a cover of up to Rs 3 lakh for hospital expenses and Rs 2 lakh for medical expenses outside hospital. The policy also has a cover of up to Rs 1 lakh for funeral expenses. Further, the policy has an annual premium of Rs 2,000.
LIC Jeevan Kishore Plan 2024 Details
| Name Of Article | LIC Jeevan Kishore Plan 2024 |
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| Category | Insurance |
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Key Features of LIC Jeevan Kishore Plan
LIC Jeevan Kishore Plan 2024 is an ambitious insurance scheme that will make it easier for people to access affordable health care. The scheme will be available to everyone, regardless of their location, income level, or medical history. It will also be available at a fraction of the cost of other healthcare options, such as private hospitals and diagnostic centers. The Jeevan Kishore Plan 2024 is expected to cover around 80% of the population, making it one of the largest healthcare initiatives in India’s history.
- There are extra riders like Premium Waiver Advantage which can be profited by the proposer and Inadvertent Demise Advantage rider
- that can be benefited by the kid after he is 18 years of age.
- On Development the Existence Safeguarded or his candidate would get the Total Guaranteed + Reward.
- Put on a kid’s life in danger starts following 2 strategy years or the youngster achieves 7 years old, whichever is later.
Benefits you get from LIC Jeevan Kishore Plan
If you are looking for LIC Jeevan Kishore insurance plans, then you have come to the right place. At Jeevan Kishore, we offer a wide range of LIC Jeevan Kishore insurance plans that cater to all your needs. From health insurance to auto insurance, we have something for everyone. Plus, our plans are available at highly competitive rates. So what are you waiting for? Get started today and see for yourself just how much benefit you can get from LIC Jeevan Kishore insurance plans.
Death Benefit – In the event of death of the kid, for example the Existence Guaranteed before the gamble beginning then the candidate would get just the fundamental charges paid till date. In the event of death of the youngster, for example the Existence Protected after the gamble beginning then the candidate would get Aggregate Guaranteed + accumulated Reward till date.
In the event that the proposer bites the dust before the approach develops, the Safety net provider pays the premium assuming the Top notch Waiver Advantage rider has been decided on.
Maturity Benefit –On development, the existence safeguarded gets the Aggregate Guaranteed in addition to Reward.
Income Tax Benefit – Disaster protection charges settled up to Rs. 1,50,000 are permitted as a derivation from the available pay every year under segment 80C
Eligibility conditions and other restrictions in LIC Jeevan Kishore Plan
LIC Jeevan Kishore Plan is a life insurance scheme that offers affordable protection to individuals who want to invest in permanent life insurance. Eligibility conditions and other restrictions apply to this scheme, so make sure you understand them before you invest. In this article, we will discuss these conditions and also provide some tips on how to get the best out of LIC Jeevan Kishore Plan.
| Minimum | Maximum | |
| Sum Assured (in Rs.) | 50,000 | 40,00,000 |
| Policy Term (in years) | 15 | 35 |
| Premium Payment Term (in years) | Equal to Policy Term | |
| Entry Age of Policyholder (in years) | 0 | 12 |
| Age at Maturity (in years) | 20 | 45 |
| Single Premium (in Rs.) | – | – |
| Payment modes | Single, Yearly, Half-Yearly and Quarterly | |
Any of the guardians or the grandparents might buy this youngster’s arrangement. In the event that, the guardians of the kid aren’t alive, a lawful watchman can likewise purchase this strategy.
Under this LIC strategy, the put cover on a kid’s life in extreme danger starts either following a long time from the arrangement issuance date or in the wake of finishing a youngster’s 7 years old, whichever is later. Jeevan Kishore Insurance Contract (Table no. 102) likewise gives policyholders the choice of protecting their youngsters’ future with Premium Waiver Advantage riders.
LIC Jeevan Kishore Plan- Features
We should investigate a portion of the features of the Jeevan Kishore Protection Plan (Table no. 102):
- The base aggregate guaranteed is Rs. 50,000
- The base strategy term is 15 years.
- Independent of the strategy term, you select the superior paying chance to be 3 years not exactly the approach term.
- The base period of passage is 0 years.
- The greatest period of passage is 12 years.
- The base age at development is 20 years.
- The greatest age development is 45 years.
- Toward the finish of the development time frame, Aggregate Guaranteed with rewards is paid out.
- The arrangement accompanies two extra riders – Premium Waiver Advantage and Unintentional Passing Advantage
LIC Jeevan Kishore Plan – Documents Required
Given beneath is the rundown of records expected to apply for the Jeevan Kishore protection plan (table no. 102):
- Application or proposal form
- Passport size photograph
- Address proof
- Age proof
- Form number 340 with medical reports of children above the age of 10 years.
LIC Jeevan Kishore Policy- Benefits
Listed below are the benefits of LIC’s Jeevan Kishore Insurance Plan (table no. 102):
- Development Advantage: Under this arrangement, the policyholder or the candidates are paid Aggregate Guaranteed with all Rewards (Straightforward Reversionary Advantage + Last Extra Reward, if any) at the hour of development, gave all the charges have been paid on time.
Satisfy Note*: Total guaranteed on approach development is equivalent to the fundamental aggregate guaranteed - Passing Advantage: in case of the strategy holder’s death after the beginning of the gamble, Total Guaranteed with all the vested rewards, if any, is paid in a singular amount. However, on the off chance that the policyholder passes on before the beginning of the gamble, just expenses paid to date are paid out.
- Surefire Give up Worth: The approach might be given up solely after 3 years or a greater amount of fruitful premium installments. In the event that the approach is given up before the beginning date of hazard, the dependable acquiescence esteem is 90% of charges paid. On the off chance that the strategy is given up after the date of beginning of hazard, the dependable acquiescence esteem is 30% of charges paid after the initiation of hazard, and 90% of expenses paid before the beginning of dangers is paid out. The reliable acquiescence esteem avoids the charges for the primary year and expenses for Premium Waiver benefit, of any.
- Credit Against Strategy – Under this arrangement, the policyholder can take a credit against the arrangement subsequent to achieving 18 years old.
- Tax cuts: The premium paid for up to Rs. 1,00,000 is permitted as a derivation from the available pay every year under segment 80C of the Personal Duty Act.
LIC Jeevan Kishore Plan – Eligibility Criteria
Before we continue any further, we should investigate the qualification models of the Jeevan Kishore Protection Plan (Table no. 102).
Minimum entry age | o years |
Maximum entry age | 12 years |
Minimum age at maturity | 20 |
Maximum age at maturity | 45 years |
Minimum policy term | 15 years |
Maximum policy term | 35 years |
Minimum sum assured amount | Rs. 50,000 |
Maximum sum assured | Rs. 40,00,000 |
Bonuses
This is a benefit connected plan, and policyholders get to partake in a small portion of the benefits of the guarantor’s business. Straightforward Reversionary Rewards (per thousand Total Guaranteed) are proclaimed toward the finish of each and every monetary year for the whole approach term until the last installment is made. These Straightforward Reversionary Rewards become a piece of ensured benefits once proclaimed.
Rebates
There are two types of rebates provided under LIC’s Jeevan Kishore Insurance Policy (Table no. 102). These are:
- Sum Assured Rebate: For Total Guaranteed between Rs. 50,000 to Rs. 1,00,000, policyholders get to appreciate 1% of the Total Guaranteed as a discount. For Aggregate Guaranteed equivalent to or higher than Rs.1,01,000/ – , policyholders get to partake in a 2% of the Total Guaranteed as a refund.
- Mode Rebate: Policyholders can procure a 3% refund of the plain premium in the event that they decide to pay their expenses yearly. In the event that the policyholders pay their expenses half-yearly, policyholders get to acquire 1.5% of the plain premium.
Riders
There are two riders accessible with this arrangement:
- Premium Waiver Advantage: This rider guarantees that all future expenses are postponed off in case of the policyholder’s destruction before the approach’s development. This rider might be taken by the proposer of the Jeevan Kishore Strategy (Table no. 102). One necessities to pay an extra premium to profit of this rider.
- Unplanned Passing Advantage: This rider guarantees that a single amount is paid to the candidate of the strategy in case of the unintentional demise of the policyholder. The policyholder can benefit this rider once he/she accomplishes the age of 18.
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