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    Thread: Invest in LIC

    1. #1

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      Invest in LIC

      An update from LIC of India.

      Most of the plan from LIC will be discontinued on september end so we should encash the benefits from some excellent policies from LIC like Jeevan Saral (for youngsters) & Jeevan Akshay 6 (for people who are of 40+ age).

      Jeevan Akshay salient features are

      1) Single premium plan
      2) Its a pension plan and pension starts right from the 2nd month from the date of commencement.
      3) No Medical Test required.
      4) Minimum allowed age at entry is 30 years (completed) and Maximum allowed age at entry is 85 years (completed).
      5) Age proof necessary.
      6) No maximum limits for purchase price, annuity etc.
      7) Minimum purchase of 1 lakh rupees.

      Intereted members can PM me.
      Last edited by kb100; 24th Jul 2013 at 01:52.

    2. #2
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      Quote Originally Posted by Punter View Post
      An update from LIC of India.

      Most of the plan from LIC will be discontinued on september end
      No where the circular has come out on this. Source please. Also why is that they are pulling the plug of so many policies. They would not be in a position to refund. Also when all the policies are being pulled out(If any) then why will people go for the below policies. This might also get discontinued next year itself. Then what to do?
      Quote Originally Posted by Punter View Post
      Jeevan Saral (for youngsters) & Jeevan Akshay 6 (for people who are of 40+ age).
      Try walking into YOUR car rather than crawling. For me walking is always best ---GURU SHISHIR

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      Jeevan Akshay will be staying as it is traditional plan.

      Due to some new rules and regulations from IRDA LIC will be bringing out new policies.

      They will be launching some new policies which will fit into rules regulations set by IRDA but there are some cons for potential buyer like service tax will charged to customer and currently LIC is paying Service tax for most of the policies. I have a circular with me, I will share with you guys.

      Jeevan Saral is one of the best policy of LIC and has higher returns and has good other benefits like Loan after 3 policy years.

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      Bump.

    5. #5

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      Quote Originally Posted by Punter View Post
      I have a circular with me
      Won't the circular be shared with the customers by LIC?
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      Quote Originally Posted by alexshom View Post
      Won't the circular be shared with the customers by LIC?
      Not only this, but a public announcement will also be done. If they remove the plug on so many policies then LIC will be doomed. Where will the money come from if they want to replay crores of customers that too with bonus, interests etc
      Try walking into YOUR car rather than crawling. For me walking is always best ---GURU SHISHIR

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      No.

      Exisiting policy holder should be worried because of this discontinueation of these policy and it is not impacted on them. In future there are chances that you may have to pay bit extra premium as service tax will be charged to policy holder.

    8. #8

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      Quote Originally Posted by Punter View Post
      Exisiting policy holder should be worried because of this discontinueation of these policy and it is not impacted on them.
      Why? Read below.
      Quote Originally Posted by shishirbn View Post
      Where will the money come from if they want to replay crores of customers that too with bonus, interests etc
      Quote Originally Posted by Punter View Post
      In future there are chances that you may have to pay bit extra premium as service tax will be charged to policy holder.
      This sounds plausible, though I am not sure about the legal part where in the customer is asked to pay more than what was agreed as the premium while initiating the policy.
      Last edited by alexshom; 2nd Jul 2013 at 11:32.
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    9. #9
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      Quote Originally Posted by Punter View Post
      Exisiting policy holder should be worried because of this discontinueation of these policy and it is not impacted on them
      Why will they stick onto the policies dude. It is simple formula. The whole middle class people would have policies and everyone will come out of this in such a situation.

      You remember the UTI case right in 90's. So many people hanged themselves after seeing the loss. I don't think the discontinuation will happen. But investment towards that policy might be stopped.

      Please share the circular. I might have missed the news.
      Try walking into YOUR car rather than crawling. For me walking is always best ---GURU SHISHIR

    10. #10

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      Hay sorry for the wrong statement.

      I meant to say. Existing policy holder will NOT affected due to this discontinuetion.

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