Monday, December 21, 2009

LIC's JEEVAN CHHAYA Free presentation

Jeevan Chhaya

Proposer : Mr.X Age: 31 Years

Nominee : Mr. Y. Pranav Age: 2 Years.

Appointee : Mr. Z. Age: 36 Years.

Policy Amount: Rs.2,00,000/-

Policy Term: 18 yrs.

Premium Amounts:

Payment Mode Premium

Yearly Rs.12,197 /-

Half Yearly Rs.6,194 /-

Quarterly Rs.3,145 /-

Policy Features:

An excellent adult as well as children plan that can provide benefit for the whole family.

Maturity Benefits:

  • 25% of the Policy Amount is given every year during the last 4 years of the maturity to the policyholder, if he is surviving.
  • Policy loan and Housing loan can be taken during the premium paying term.

Death Benefits:

  • The nominee can be your child and the appointee can be your spouse.
  • In case of risk during the policy paying term the sum assured is given to the appointee and all the future premiums are waived off (no need to pay future premiums).
  • The Premium Waiver Benefit is coming as a default in this policy.
  • 25% of the Policy Amount is given every year during the last 4 years of the maturity to the nominee.

What is paid for 18 year?

Yearly Rs. 2,19,546/- 
Half Yearly Rs. 2,22,984/-
Quarterly Rs. 2,26,440/-

What’s your benefit:
SA – 2,00,000 +Bonus – 1,51,200 ( estimated @ Rs.42 per 1000 SA for 26 years.) = Rs.3,51,200.

T.B – Tax Benefits: The Net Taxable Annual income can be reduced to a great extent by subtracting the annual premium paid from the net taxable income.

In addition to this the policy holder will also be provided Double Accident Benefit.

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  1. i have come across an interesting site on investment plans and review...pls read a detailed review of LIC Jeevan Chhaya plan on

  2. thanks arun..i also visited that site and found review very interesting...would recommend others also to visit

  3. Hi,

    I have doubt for 18th year , in the policy document it was written like 25% of SA + Bonus, I am paying 15375 Quarterly and SA is 5,00,000. In this case at the 18th year(last year), I will get 25% 0f 5 lakshs +bonus. I dont know how to calculate bonus.

    I need your help to understand whether at the end of the 18th year is it profit for me or not?, because I will pay 15375*12*18 =5,53,500 which is more than SA(sum assurance ) = 5 lakhs, which is written in policy document.

    Please email me, Thanks.

    Note: I understood for 15,16,17 years benefit it is 25% of SA
    but 18th year is 25% of SA+Bonus. Which I am not getting how to calculate it.

  4. Sorry typos in my previous post

    1. I am paying 15375 Quarterly ---> not Quarterly it's Half yearly

    2. 15375*12*18 =5,53,500 ---> 15375*2*18 =5,53,500