It is important to be self sufficient in meeting the demands of yourself and the family. A life insurance policy does a good job in realization of the above mentioned. Knowledge about insurance policy can also be shared with friends and family for their self independence. This is a sample letter to friend advising on LIC Jeevan Shanti Policy. The article addresses the question of properly presenting the request to the concerned person. The sample letter may be modified according to need and situation.
To
ABC
C/o XYZ
ABC Address
Dear ABC,
I was thinking about you lately and decided to drop a few lines. I hope you are doing well along with family. Recently, I have been learning about insurance to secure our future from the various ups and downs of life. I was particularly interested in the LIC Jeevan Shanti Policy. I was impressed by the various options of the policy and decided to share with you whatever little knowledge I have on the LIC Jeevan Shanti plan.
It is a single premium, non-linked and non participating plan where policy holder has the option of immediate or differed annuity. Annuity rate is fixed at the commencement of the policy, both for immediate or differed annuity and payable throughout life. There are 10 options (A to J) to choose from for immediate annuity and 2 options for the differed one. In the immediate annuity option, the return are made immediately after the payment of the premium while in the differed annuity option, the returns are made after the completion of a specific period of time. I have myself opted for the immediate annuity plan and would advise you to choose the same which provides you with immediate annuity for life at uniform rate on payment of a lump sum amount.
Benefit of the policy is that the annuity payment is made in arrear for as long as annuitant is the alive. However, the policy will cease to exist on the death of the annuitant and nothing will be payable. The minimum purchase price of the policy is 1.5 lakh rupees with no maximum limit. People belonging to the age group of 30 to 100 years can apply for this policy. Four modes of payments are available: monthly, quarterly, half yearly and annually. Moreover, loan option is also available after completion of one year.
Let me explain with the following example
Purchase price :
10 lakh
Age of annuitant : 42
years
Annuity :
Mode yearly
On choosing immediate annuity plan, the annuitant shall receive annuity amount of 74300, approximately 6192 rupees per month for as long as the annuitant is alive.
I hope I was able to explain a part of the policy clearly. It is a good pension scheme provided by a trusted institution and you should avail the facility. I pray for your sound health and love to the kids.
Yours lovingly,
Your Name
Your Address
Date:
Place:
Write a letter of request to LIC for sending a cheque towards insurance premium
0 Comments