Jeevan Chhaya Life Insurance Policy by LIC: 103

Jeevan chhaya is an Endowment Assurance plan for those having a child aged less than an year(not an adopted one). This plan makes provision for the child’s higher education or marriage. If the policy holder dies during the term of the policy, an additional sum assured is payable. If the child is less than an year old, a joint declaration by both husband and wife is a must. Besides payment of Sum Assured immediately on death, one-fourth of Sum Assured is payable at the end of each of last four years of policy term whether the life assured dies or survives the term of the policy.

PLAN PARAMETERS

Age at entry	Min. 18 yrs, Max. 45 yrs
Maturity Age	Max: 65 yrs
Term of policy	5 yrs for S.P & 10 yrs for regular Max. 25 yrs
Sum assured	Min. 50,000, Max. No Limit
Mode of payment	YLY/ HLY/QLY/SSS/MLY
Accident benefit	: Re. 1extra per (Max. 50 Lac inclusive 1000 S.A. All plan)
Policy loan	yes
Housing loan	Yes
Assignment	Yes
Revival	Yes
Surrender of policy	Yes
Term rider	N.A.
CIR	N.A.

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Money Back 25 years Insurance Policy by LIC

Under a money back plan, instead of you paying regular premiums, the insurance company will give you back the sum assured on a regular basis. This plan is suitable for businessmen and professionals as it gives periodic payments of survival benefits. For money back policy of 25 year (table 93), 15% of the S.A. become payable each after 5,10,15 and 20 year, and the balance 40% plus the accrued bonus become payable at 25th year. The most important feature of this policy is that in case the life assured dies during the policy term, the death claim= Full sum assured (no survival benefit amounts deducted)Similarly, the bonus is also calculated on the full S.A.

MONEY BACK 25 YEARS INSURANCE POLICY BY LIC
Plan Parameters
Age at entry	Min. 13yrs (LBD), Max. 50yrs (T-75), Max. 45yrs (T-93)
Maturity Age	Max. 70yrs
Sum in Multiples	Min. 5000, Max. No Limit
Term	Min. 20yrs, Max. 20yrs (T-75), Max. 25yrs (T-93)
Mode of Payment	YLY/HLY/QLY/SSS/MLY
Accident Benefit	Re.1 extra per (Max. 50Lac inclusive 1000 S.A. All plan)
Policy Loan	Yes, @10.5%
Housing Loan	Yes
Assignment	Yes
Revival	Yes
Surrender of Policy	Yes
Term Rider	Yes
CIR	Yes
Underwriting conditions
Form No.	300/340
Age proof	Std/ NSAP-1,2,3
Female lives category	I/II/III
Non-medical (Gen)	Allowed
Non-medical (pro)	Allowed
Actual sum assured	Basic Sa
Risk Coverage	SA+ Bonus
Dating back @8%	Allowed

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Child Career Insurance Policy by LIC (table:184 With profits)

This with- profit plan was introduced by LIC to cater to the education needs of growing children. It has been in effect from 8^th February, 2007. ‘Child Career Plan’ provides a risk cover on child’s life during the policy term as well as for an extended term of 7 years(no premium has to be paid for these 7 years). Premium has to be paid regularly during the policy term (as opted by the proposer) and are payable either for 6 years or up to 5 years before the policy term.

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Jeevan Kishore Life Insurance Policy by LIC

This is an Endowment Assurance Plan available for children of less than 12 years of age. The proposer of the policy can be either of the parents, the legal guardian or the grandparents of the child. The child will become the owner of the policy at the age of 18. If at the time of taking the policy the child's age is less than 10 years, he need not go through a medical examination. Premium waiver benefit is available on payment of extra premium along with standard age proof and medical examination up to 50 years of proposer's age.it is a with-profit plan i.e., it takes part in the corporation’s insurance business.

PLAN PARAMETERS-

Age at entry	Min.0, Max. 12 yrs
Maturity age	Max. 45 yrs
Sum Assured	Min.5000
Term	Min15yrs, Max. 35 yrs
Mode of payment	YLY/HLY/QLY/SP
Accident benefit	after 18 yrs. Age of child (Max. 50lac inclusive Re.1 extra per All plans)
Policy loan	N. A
Housing loan	N. A
Assignment	N. A
Revival	yes
Surrender of policy	yes
Term rider	N.A
CIR	N.A

Jeevan Saral by Lic of India

Jeevan Saral by Lic of India is the highest selling plan since past 5 years. This plan was launched in 2004 but picked up pace only by 2009. It has seen tremendous growth since than. There are more than 95,00,000/- Jeevan saral policy holders.

Jeevan Saral is a kind of Endowment plan which gives returns in the range of 6 to 10 % on maturity along with guaranteed normal death risk cover of 250 times of the monthly premium & 500 times for accidental death.

Apart from this it gives maturity and survival benefits. One can also withdraw money from the ongoing plan either partly or fully. Loan facility is also available to policy holder. 

Also check : Jeevan Nidhi in Simple Terms:-