LIC Of India, Post Office Savings Schemes.

23/02/2017

01/01/2016

Wish you a very happy New year to all my dear customers & well wishers

03/08/2014

Greetings!! wish u happy friendship day :) :)

04/07/2014

All financial needs under one roof with trust over 40 years in customer satisfaction

15/06/2014

Happy father's day :)

30/01/2014

My best wishes and hearty congratulations to my father for his hard work and Service :)

19/07/2013

Invest In Gold MF's & ETF'S

11/07/2013

LIC Jeevan SARAL vs Post Office Recurring Scheme

Benefits of LIC Scheme:

1. You can deposit Yearly, Quarterly, or Monthly(ECS) in LIC Scheme.
2. Maturity received in LIC scheme is TAX FREE under section 10-10d of Income tax act.
3. The amount deposited in LIC is exempted under section 80c of Income tax act.
4. You can continue LIC scheme after 10 years. You cannot continue post office scheme after 1 years.
5. If you forgot to take maturity at the end of the 10 years. You can get return beyond 10 years in LIC scheme. This is not available in post office scheme.
6. Get free insurance with LIC scheme.
7. LIC is awarded by trust brand No.1
8. 1000’s of Insurance agents to help you and collect your premiums from your office/Home. In Post office scheme home service is not available.

Maturity at the end of the 10 years in Monthly Scheme

Premium LIC Return Post Office Return LIC Gain
Rs.500 Rs.106452 + Free Ins Rs.89010 -Income Tax Rs.17442
Rs.1000 Rs.212904 + Free Ins Rs.178021-Income Tax Rs.34883
Rs.1500 Rs.319356 + Free Ins Rs.267031-Income Tax Rs.52325
Rs.2000 Rs.425808 + Free Ins Rs.356042-Income Tax Rs.69766
Rs.2500 Rs.532260 + Free Ins Rs.445052-Income Tax Rs.87208
Rs.3000 Rs.638712 + Free Ins Rs.534063-Income Tax Rs.104649
Rs.3500 Rs.745164 + Free Ins Rs.623073-Income Tax Rs.122091
Rs.4000 Rs.851616 + Free Ins Rs.712084-Income Tax Rs.139532
Rs.5000 Rs.1064520 + Free Ins Rs.890105-Income Tax Rs.174415

LIC Maturity Calculated @10% I.R.R

11/07/2013

http://mylicindiachn.blogspot.in/2010/09/lic-plans-insurance-schemes-for.html

11/07/2013

LIC plans insurance schemes for TEACHERS
LIC plans insurance schemes for TEACHERS

New Delhi: The central government has planned to introduce life and health insurance at greatly subsidized rates for school teachers teaching in government, municipal and private unaided schools.

Over detailed discussions with the Human Resource Development (HRD) ministry, insurance company Life Insurance Corporation (LIC) has already come up with several schemes with two components.

The first component of the life insurance would be available for teachers belonging to the age group 18-59 or till the age of retirement. Insured teachers would have to pay an annual premium of Rs. 840 for an insurance cover of Rs. 2 lakh, payable in case of death.

The introduction of the insurance scheme is meant to benefit around 62 lakh teachers all over India. The ministry has proposed to pay the first annual premium for all teachers on it's own and with it's annual contributions, is looking at an annual budget of Rs. 500 crore.

LIC has also suggested a second component involving a monthly contribution that would earn an interest of 8 percent per annum on a compounding basis. The entire amount in this case would be payable after retirement.

The LIC has stated that a monthly contribution of Rs. 500 would generate an amount of Rs. 4.76 lakh in 25 years and Rs. 11.47 lakh in 35 years of service. However, LIC said that the interest rates may vary every year.