KNOWLEDGEBASE

What Does LIC's Komal Jeevan Offer you ?

1. Two Installments of 20% each of the sum assured on your child's attaining 18 and 20 years of age,
2. 30% each of the sum assured on your child's attaining 22 and 24 years of age,
3. Guaranteed Addition @ Rs 75.00 per Rs 1000 of the sum assured per annum for (26-present age)years + Loyalty Addition if any, on your child's attaining 26 years of age,
   
4. Return of all premium paid (excluding premium paid for securing Premium Waiver and other extra benefits)on death of the child before commencement of risk,
   
5. Sum insured in full+ Guaranteed Addition @ Rs 75.00 per Rs 1000 of the sum assured per annum + Loyalty Addition if any, in case of child's death after commencement of risk without any deduction whatsoever,
6. Premium Waiver benefit against a little extra.

Why Should You Invest On LIC's Komal Jeevan?

1. Premium payable is quite low as compared to other conventional life insurance plans.
2. You need to pay premium only upto your child's age of 17 years whereas the policy is valid upto its age of 26 years.
3. There is a Guaranteed Addition @ Rs 75.00 per Rs 1000/- of the sum assured per annum. This is different from normal bonus. While bonus is subject to variation depending on the market as on the day of valuation, GA (Guaranteed Addition) is independent of market fluctuation and is a guaranteed commitment from LIC.
   
4. Loyalty Addition payable on the child's attaining 26 years age is likely to be quite impressive.
   
5. GA is calculated upto age 26 (unless in case of child not being alive till then) whereas premium is payable only upto age 17. In other words, there is a free GA @ Rs 75.00 per Rs 1000/ of the sum assured for 9 years !
6. Installments received at the child's age of 18,20,22 and 24 can be better utilized, not to speak of the amount available at the age of 26 which is quite substantial.
   
7. Premium paid enjoys I.T exemption upto Rs 1 Lakh per annum under section 80 C of the I.T Act along with certain other investments provided under the same section, whereas claim/surrender values as and when received enjoys I.T exemption under section 10(10D).
8. Last but not least, no evidence of health of the child is required for issuing the policy, since the maximum age of entry under the plan is only 10 years.
   

These are some of the most valid reasons why you should invest on LIC's Komal Jeevan.

How Long You need to Invest On LIC's Komal Jeevan ?

• upto 18-present age of the child stopping on its death, should it occur earlier in case of recurring premium.
• Only once in case of Single Premium plan.
  

What are the Modes of Investment Under Komal Jeevan ?

• Single, Yearly, Half-yearly or Quarterly or Monthly.

Want to know more about LIC's Komal Jeevan or want to invest on the plan ?

• You can contact me using any of the contact details shown in my profile. Alternatively, we can chat online also.
  

Looking For Long Relationship,

K.Nagesh