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Samvardhan - Pension Scheme ( Defined Contribution) for all LIC agents
LIC India has decided to start a Group Superannuation Cash Accumulation Scheme- ′Samvardhan′, for the Agents of the Corporation. This scheme is being started with a view to assist the agents in creating a sizeable corpus during their productive year which can be used to provide the pension in a structured way, after the accumulation period.

Main features of the scheme are as under :

Eligibility:

1. All the active agents having annual commission of Rs. 1,00,000 alongwith agency tenure of minimum 1 year can join the scheme. Membership of the scheme is voluntary.
2. Minimum age at entry ( in years) 18 completed
3. Maximum entry age ( in years) 65 completed

Contributions:

1. Minimum contribution by the Agent Rs. 500/- per month and in multiples of Rs. 500/- thereafter
2. Minimum accumulation period upto age 60 years
3. Maximum accumulation period upto age 75 years
4. Minimum deferment period- 10 years

Benefits under the Scheme:

Benefits payable after the accumulation period
Benefits payable on the death of the member
Benefits payable on withdrawal of individual member

The Scheme will run as a defined contribution under Group Superannuation Cash Accumulation Scheme of LIC of India.
  
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Source : http://www.licindia.in
More News Headline
  Samvardhan - Pension Scheme ( Defined Contribution) For All LIC Agents (2011-03-06)
LIC India Has Decided To Start A Group Superannuation Cash Accumulation Scheme- ′Samvardhan′, For The Agents Of The Corporation. This Scheme Is Being Started With A View To Assist The Agents In Creating A Sizeable Corpus During Their Productive Year Which Can Be Used To Provide The Pension In A Structured Way, After The Accumulation Period.   Read More -->
  Life Insurance Premium To Cost More (2011-03-02)
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This Plan Offers Payment Of Fund Value At The End Of Policy Term, Based On Highest Net Asset Value (NAV) Over The First 100 Months Of The Policy, Or The NAV As Applicable On The Date Of Maturity, Whichever Is Higher. NAV Of The Fund Will Be Subject To A Minimum Of Rs 10/-. This Plan Is Available For Sale For A Maximum Period Of 3 Months From The Date Of Launch.   Read More -->
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  Max New York Life Introduces College Plan (2011-02-18)
Max New York Life Introduces College Plan A Guaranteed Money Back Child Plan To Help Parents Create A Corpus And Meet The Fast Increasing Cost Of Higher Education Of Their Children. The Plan Provides Peace Of Mind As It Ensures A Guaranteed Pay Out When The Child Reaches 18 Years Of Age.   Read More
  ING Ace For Pension : Pay 3 Years Enjoy Retirement (2011-02-18)
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  INGLife Ace Life : Pay Premium For 3 Years Only (2011-02-17)
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  Insurance Distribution Channel Related Changes (2010-07-09)
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