What is Jeevan Tarang policy with profit?
LIC Jeevan Tarang Plan is a with-profits, whole of life plan. The plan provides annual survival benefits at the rate of 5½ % of the Sum Assured after the policy owner chooses an Accumulation Period.
How does LIC calculate bonus?
Bonus is declared either as a certain amount per Rs 1,000 sum assured or as a percentage of the sum assured. For example, bonus may be Rs 40 for every Rs 1,000 of the sum assured. So, for a policy with the sum assured of Rs 1 lakh, the bonus amount will be Rs 4,000.
How does LIC Jeevan Tarang plan pay bonus?
LIC Jeevan Tarang Plan is a Whole Life Plan with Bonus facility. In this plan, the premium is paid for the Accumulation Period that is chosen by the policyholder of 10, 15 or 20 years. When the Accumulation Period ends, i.e. the Premium Paying Term is over, the vested Bonus is paid in a Lumpsum and the policy continues.
What are the benefits of Jeevan Tarang plan?
1 Salient Features. Jeevan Tarang is a whole life plan, which provides annual survival benefits for life, after the accumulation period, at a rate of 5.5% of the sum assured. 2 Income Tax benefits – Plan 178. This plan follows Exempt-Exempt-Exempt model of taxation. 3 Example of benefits.
Which is the accumulation period in Jeevan Tarang?
In Jeevan Tarang Plan, the life assured chooses the accumulation period (10, 15 or 20 years) and pay the premium as a single premium or regular premium. After the premium paying term, the life assured receives all the accumulated bonus as a lumpsum amount.
How old do you have to be to apply for Jeevan Tarang?
Jeevan Tarang Policy – Eligibility Criteria’s Minimum entry age —- Maximum entry age 60 years Maximum maturity age 100 years Age at the end of the Accumulation Perio 18 years Age for completion of Premium Payment Te 70 years