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Mr.Pradeep Diwan
LIC Agent
7C / 8C, Parekh Nagar Indl. Estate,
S. V. Road, Kandivli (West), Mumbai -
400067
Maharashtra, India.
Tel: 28050377/
28055576
Fax: 28056748
Cell: 9324422924
pradeep@licinsurance.com |
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JEEVAN
AADHAR
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The
plan has been designed to assure a handicapped
dependant to have a secured life.
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Benefits
can be availed of only in the event of death
of life assured.
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In
the event of the death of the life assured,
the benefits are payable partly in lump sum
and partly in the form of an annuity to the
handicapped through a nominee or a trustee.
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The
policy is a whole life plan with limited premiums.
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Premium
paying terms are 10, 15, 20, 25, 30 and 35
years.
Benefits
On Death of
Life Assured
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20%
of the Notional Sum Assured is paid immediately
to the nominee.
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The
remaining 80% of the Notional sum assured
is utilized to provide an annuity certain
for 15 years and life thereafter of the handicapped
dependant. The actual Annuity is calculated
at the time of claim.
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Notional
Sum Assured: Basic sum assured + Guaranteed
Additions + Terminal Addition.
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Guaranteed
Additions: Guaranteed additions of Rs.100
per Rs. 1000 sum assured, for each completed
policy year for which the policy was in full
force. Such guaranteed additions will accrue
up to age 65 years or till the life assured's
death, whichever is earlier.
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Terminal
Addition: Payable only if 10 years' premiums
have been paid and policy is in force. Amount
payable on death of life assured depends on
the rates declared by LIC on favorable working
experience.
Handicapped
dependant pre-deceasing the life assured
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Minimum
sum assured: Rs. 50000.
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Minimum
premium must be Rs.800 per annum
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Minimum
age at entry: 22 years.
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Maximum
age at entry : 60 years.
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Maximum
premium ceasing age: 70 years.
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No
surrender value is allowed.
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No
loan is granted on this policy.
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The
proposer has to submit an addendum to proposal
declaring the disability of the handicapped
duly Certified by a government doctor and
can claim separate relief under section 80
DDA of IT Act 1961.
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Premiums
are based on the age of the handicapped dependant
as well as the life assured.
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Handicapped
dependant is defined.
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Any
amount paid to the life assured on the dependant
pre-deceasing life assured the same is treated
as income of the assessee and hence taxable.
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