LIC New Jeevan Nidhi plan is a conventional with profits pension plan with a combination of protection and saving features.

NEW DELHI: The government released on Friday new income 0tax return forms , which seek more disclosures from those who claim exemption on a large agricultural income, directors on the boards of companies, individuals with foreign assets or bank accounts as well as those holding shares in unlisted companies.

The monetary policy committee has reduced the key policy rate by 25 basis points to 6 percent in order to boost private investments and support domestic growth

Any individual between the age group of 12-45 years of age can opt to buy LIC Jeevan Pragati Plan for a minimum sum assured of Rs. 1.5 lakh.

LIC Money Back Plan can be purchased with a minimum sum assured of Rs. 1 lakh and it has no limit on the maximum sum assured.

The advertisement campaigns often launched by insurers focus on promoting particular insurance plans and not the concept of insurance.

The premium paid for the LIC's New Jeevan Anand Policy plan also qualifies for tax rebate under Section 80C of the Income Tax Act.

Apart from providing financial security to the family, LIC policy can be used as an option to secure a loan. Find out how it is better than a personal loan, gold loan and loan against shares.

"The amount of deduction depends on the percentage of disability. The deduction claimed is fixed irrespective of the actual expenses."