Procedure to Get Duplicate LIC Bonds

LIC Bond is the written contract form between insurer and insured, it is the most important documents from LIC point of view. And it is the main evidence for the policy holder that they are insured from LIC of India. So, keep it safe.
How-To-Get-Duplicate-LIC-Bond?
If it is misplaced due to some reason due to Shifting or theft or fire or any other reason you are not able to locate/find it then you can apply for duplicate LIC Insurance Policy bond.      

There are some documents and procedures to arrange and follow to get it from your your LIC Branch.

1. Go to your LIC Home Branch and ask the procedure.
2. Get Form No.3762 get type this details on Non-Judiciary Bond Papers of Rs.100/- as self                      declaration and get it notarize from the notary.

Along with above documents with One Photo ID and Address Proof  Submit these documents to your home branch. LIC may charge you some Stamp Charge require to be pay by applicant. The Stamp Charges may differ from Plan to Plan and value to Sum Assured (Sum Assured is the amount that an insurer agrees to pay on the occurrence of an event). Don't forget to take receipts for the same.

These procedure may take normally 5 to 7 working days. If facing any problem and want to know more about all these kindly contact me.

How To Make Claim in Insurance ?

How-To-Make-Claim-in-LIC ?
What is Claim in Insurance?
Let’s talk about claim. Claim is the demand that the insurer (i.e. LIC of India) should redeem the promise made in the contract. Then the insurer settle the claim after satisfying himself that all the conditions and requirements for settlement of claim have been complied with.
Types of claims:-
An insured person can make claim according to condition complied to contract between Insurer & Policyholder. Claim can be made against Maturity; Death or by Surrendering a policy.
In Money Back Policy, LIC or other Insurance company also pays Survival Benefit Payment before the date of maturity.
How to Make Claims and what are the documents required for?
(A)Maturity Claims:-
When Life Insurance Policy is maturing, the insurance company will usually send intimation prior to due date at least two to three months in advance of the date of maturity with maturity amount payable details.
Policy holder should contact his servicing branch to know about claim procedures & sets of documents required. The Insurance Company asks for following documents:
(          1)Maturity Claim Form No. 3825
(          2)Original Policy Bond
(          3)Discharge Voucher with witness sign
(          4)NEFT Details with cancelled Cheques
(B)Death Claims :-
When a person with life insurance policy dies, claim intimation should be sent to the insurance company as early as possible. The Assignee or the Nominee under the policy can do this with the help of his agent or relative.
The claim intimation should contain information like Date, Place and Cause of Death. The Insurance Agent should help the Insured Person Family or Assignee to deal with the Insurance Company. The Insurance company will respond and ask for the following document :
(       1)Maturity Claim Form No. 3825
(       2)Certificate of Death
(       3)Original Policy Bond
(       4)Discharge Voucher with witness signature
(       5)NEFT Details with cancelled Cheques
*If the policy has been assigned in favour of any other person or entity like any Loan provider company – the claim amount will be paid to the assignee who will give discharge.

(C) Surrender of Policy : - Please visit post How to Surrender LIC Policy?


Insurance And Tax Savings

Insurance-And-Tax-Savings-Tips
Earlier we says for Insurance nowadays we also add Insurance with Tax Savings. Mostly people invest for tax saving purpose. And before taking any insurance plan peoples ask how much tax benefit they may get!

Here highlighting some LIC Plans with tax benefit as per Income Tax Act.

1) Deductions Under Section 80C  
   
    (i) Life insurance premium paid in order to effect or to keep in force an insurance policy on the life of the assessee or on the life of the spouse or any child of assesee and in the case of HUF, Premium paid on the life of any member thereof under an insurance policy, (Other than a contact for a deferred annuity) issued on or before the 31st day of March 2012 shall be eligible for "deduction only to the extent of 20% of the actual capital sum assured or actual  premium paid whichever is less." 
   And issued on or after the 1st day of April 2012 shall be eligible for "deduction only to the extent of 10% of the actual capital Sum Assured or Actual Premium paid  whichever is less".
     Where the policy, issued on or after the 1st day of April 2013, is for insurance on life of any person, who is - 
     (a)a person with disability or a person with sever disability (Section 80U)
     (b) Suffering from disease or ailment as specified in the rules under section              80DDB.

   (ii) Contribution to deferred annuity plans in order to effect or to keep in force a contract for deferred annuity, on his own life or the life of his spouse or any child of such individual, provided such contract does not contain a provision to exercise an option by the insured to receive a cash payment in lieu of the payment of annuity is eligible for deduction.

  (iii) Contribution to Annuity Plans like - New Jeevan Dhara, New Jeevan Dhara -I and Jeevan Akshaya -VI.


Under Section 80CCC
 New Jeevan Nidhi Plan & New Jeevan Suraksha - I Plan :- A deduction to an individual for any amount paid or deposited by him from his taxable income in the above annuity plans for receiving pension is allowed.

*The aggregate amount of deductions under U/S 80C, 80CCC & 80CCD (1) shall not in any case exceed Rs.1,50,000/- (Rupees One Lakh Fifty Thousand)*

2) Deductions Under Section 80D

a)    Deduction allowable upto Rs.25,000/- if an amount is paid to keep in force an insurance on health of assessee or his family (i.e Spouse & Dependent children) or any contribution made to the central Government Health Scheme or such other scheme as may be notified by the Central Government in this behalf or on account of Preventive health check-up of the assessee or his family.
b)    Additional deduction upto Rs.25,000/- if an amount is paid to deep in force an insurance on health of parents or on account of Preventive health checkup of the parent of the assessee, whether dependent or not.
(c) In case of HUF, deduction allowable upto Rs.25,000/- if an amount is paid to deep in force an insurance on health of any member of that HUF.
(d) If the sum specified in (a) or (b) or (c) is paid to effect or keep in force an insurance on the  any person specified therein who is a senior citizen, then the deduction available will be up to Rs.30,000/-. Here senior citizen means the person who is of sixty year or more during the previous year.
(e) In case the amount are paid in (a) or (b) or (c) on account of preventive health check up, the deduction for such amounts shall be allowed to the extent it does not exceed in aggregate Rs.5,000/-
(f) For the purpose of deduction, the payment shall be made by  - any mode, including cash, In respect of any sum paid on account of preventive health check up and Any mode other than cash in all other cases.
(g) the insurance as mentioned above shall be in accordance with the scheme framed by (i) the GIC of India or any other insurer approved by IRDA.


3) Deductions Under Section 80DD
Jeevan Aadhar Plan - Deduction from total income upto Rs.75,000/- allowable on amount deposited with LIC under Jeevan Aadhar Plan, Jeevan Vishwas for maintenance of an handicapped dependent (Rs.1,25,000/- where handicapped dependent is suffering from severe disability)

4) Exemption in respect of commutation of Pension under Jeevan Suraksha & Jeevan Nidhi Plans : 
Under Section  10(10A)(iii) of the Income Tax Act, any payment received by way of commutation of pension out of the Jeevan Suraksha & Jeevan Nidhi Annuity Plans is exempt from Tax.

5) Income Tax Exemption on Maturity / Death Claims proceeds under section 10(10D) :
As per Section 10(10D) of the Income Tax Act, 1961, any sum received under a Life Insurance Policy, Including the sum allocated by way of Bonus on such policy is exempt from tax where the sum s received as a death benefit. However, to get exemption under above section for sum received other than death benefit.
* Policy shall not be issued under Section 80DD(3)  Or
* Policy shall not be issued as Keyman Insurance Policy  Or
* Policy which has been issued on or after April 1, 2003 and the premium paid      in any of the years during the term of the policy not exceeding 20% of the          Actual Capital Sum Assured.
* Policy which has been issued on or after April 1, 2012 and the premium paid      in any of the years during the term of the policy not exceeding 10% of the          Actual Capital Sum Assured.

Where the policy issued on or after the 1st day of April 2013 is for insurance on life of any person, who is - 
(i) a person with disability or a person with severe disability as referred to in section 80U, or 
(ii) Suffering from disease or ailment as specified in the rules made under section 80DDB,


*Exemption under this section shall be available only if the premium payable in any of the years is not more than 15% of the actual Capital Sum Assured.*


Star Family Health Optima (Family- Floater)

One of the best family floater plans available in cashless health insurance (Mediclaim) sector : -

Star Health Family Health Optima

Some Points to Know before buying this policy :-

Single policy, wider coverage for whole family at an affordable premium.

* Get extra sum insured (auto recharge) at no extra cost, up to 30%  of sum insured.

* Health Checkup costs up to Rs.5,000/- for every block of 3 years of policy coverage.

* Donor expenses for organ transplantation.

* Domiciliary Hospitalization Expenses for treatment exceeding 3 days.

* Cover for over 400 day care procedures.

* Entry age 16 days to 65 years.

* Restoration benefits you can claim 100% of your sum insured
  E.g. if sum insured is 5 lac  is exhausted  we can provide you claim of 5 lac on different  
  disease..

* New born baby covered after 16 days without any extra premium..

* Pre hospitalization 60 days before

* Post hospitalization 90 Days after

* No claim bonus
  1st year 25%
  2nd year 10%

* Recharge Benefit
  On 3 lakh - 25%
        4 lac - 25%
        5 lac - 15%

* No Third Party (Direct claim settlement)

* Ambulance facility covered

* Health Checkup after 3 claim free year

* 7000 cashless hospital facility in all over India

* Tax Benefit - Under Section 80D

*  Document Require to Avail this plan :
   1Passport size photo of each family members
   1DOB Proof
   1Address proof



**  Payment mode by cheques / credit card/ cash

Read Brochure Here

If you are interest & living in Delhi then call/contact Pradip @ 9958781151.

Why Do You Need Health Insurance Policy !!!

Why Do You Need Health Insurance Policy !!!

Rising health care costs are punching a big hole in our pocket & savings. Just paying a small insurance premium are the best solution for the future (if any) financial losses. So, just avail health insurance policy to save from financial problem from worries of hospitalization.

BENEFIT OF HEALTH INSURANCE POLICY.
Do you believe that you never need health insurance policy because you are fit & fine ?
Do you believe that only benefit of health insurance policy is reimbursement of expenses in the event of hospitalization !!!
With health insurance policies you can avail benefit of CASHLESS HEALTH INSURANCE and also you can save tax U/s.80D under given limit.

With growing ages your health and income may come down and you can face problem with them. For every senior citizen health insurance policy with life time renewal facility is the best option. 

SOME OTHER BENEFIT:
Some health insurance plans offer a daily lumsum amount of compensation against your daily expenses for each of hospitalization apart from your medical bill i.e. DAILY CASH BENEFIT. No records or proof require for this. This amount amount is predefined with the policy term & condition.

The fixed pre-defined benefit type of medical insurance policies provides a fixed lump sum payment upon diagnosis and confirmation of certain critical illnesses like cancer, stroke, paralysis, kidney failure etc. Irrespective of the actual amount spent by the insured, he or she receives the lump sum amount which can be used to fund rehabilitation or on lifestyle adjustment, etc.


Health care system in India has evolved with preventive health check-ups and improved diagnostics. Certain progressive insurance companies offer benefits that are generally not associated with the health insurance policies. Some such benefits are :
**Free Consultation with the doctors
** Free health check-ups etc.

TAX BENEFIT FOR TAX PAYERS:
As per Budget 2015 tax benefit of Rs.25,000/- given U/s 80D for Medical Insurance Premium Paid.
An additional amount of Rs.30,000/- is available for premium paid for senior citizen.


Are You Looking for Best Insurance Adviser !!

Are You Looking for Best Insurance Adviser !!
Dear Friends !
Now a days there are lots of company who are dealing in insurance business. But who will fulfill their commitment we don't know.


Suppose we took a health plan ( medical insurance plan) but when we come to take benefit of this policy company reject our claims saying this is Pre-Existing Disease. So, they can't honour your claim.
So, before taking the health insurance we must take care of exclusions. Secondly also check the claim settlement ratio of that company.  
I am an authorize insurance adviser approved by IRDA and associated with Life Insurance Corporation of India (LIC) and Star Health And Allied Insurance Co. Ltd.

In case any help regarding Life Insurance, Health Insurance (Cashless Mediclaim), Best Child Plan, Best Plans of LIC, Tax Saving Plans (Tips), you can call me at # 9958781151.

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