|Posted by Sathyanarayana on December 9, 2013 at 5:10 AM|
LIC's Traditional Plans ClosingShortly (31 ,December 2013)
As per IRDA regulation all Insurance plans from LIC of Indiawill be terminated from 31st Dec 2013.All the plans will be reissued with newpremium + service tax @ 3.09 %. Currently Lic of India pays all the service taxto the Government without charging their customers.
Example: If you apply for a new policy after 31st Dec 2013for Jeevan anand than the premium will be 1,03,090/- Where in 1,00,000 is yourbasic premium and 3090/- is the service tax payable to Government of India.
If you plan your investment before 31st Dec 2013 than youwill get:-
Higher Returns as you save on Service 1. tax for next 35years
2. Better Returns as you are entitle for higher bonus as perold plans
Jeevan Tarang and Jeevan Anand plans which are extended freelife cover plans which will close for ever.
3.I would recommend you to Invest your surplus into a safeand secure
company like Lic of India before the regulation sets in.
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