LIC Jeevan Shikhar Plan :

This is a new single premium non unit linked life insurance plan which provides a life cover of 10 times the single premium in case of death and good returns ( better than current rate FD returns after paying tax ) on survival as maturity. The policy term for this plan is fixed at 15 years. This is available for purchase till 09th May 2016

Key features of this plan are :

Ø  High Risk Cover with single premium

Ø  Option to select Maturity Sum Assured (MSA) and premium will be based on that and age of insured

Ø  Guaranteed Return (MSA) + Guaranteed Loyalty Additions on maturity

Ø  Any time surrender option with relatively higher surrender value than other plans

Ø  Min Age At Entry 6 years and Max Age At Entry 45 years

Ø  Minimum Maturity Sum Assured is `100000 and above in multiples of `20000

Ø  Premium paid is eligible for tax rebate under section 80(C) of income tax

Ø  Maturity amount will be tax free under section 10(10D) of income tax

This is a good guaranteed return investment opportunity for high net worth individuals. We recommend to buy policy in the name of your children to get a higher Maturity Sum Assured for the Premium Paid

For more details visit LIC's site for the plan

http://www.licindia.in/LICs_Jeevan_Shikhar_Benefits.html