Lic jeevandhara old

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31 Points Posted on 06 July 2022

I hv lic jeevandhara old policy table 096.Deferment period 22/21. What is the meaning of deferment period 22/21. My policy commencement date is  28/06/2000. Total how much premiums do i have to pay ?.The annuity start date is printed on policy document 01/07/2022 . Lic says annuity stsrt date is 01/08/2022 . What is correct ? Policy document or lic communication.

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On 06 July 2022 at 00:15 Report
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Quick Summary
This discussion addresses common queries regarding the LIC Jeevan Dhara Old policy, specifically Table 96. It seeks clarification on the meaning of a 22/21 deferment period and the total premiums payable. The user also questions discrepancies between the policy document and LIC's communication regarding the annuity start date. Furthermore, it explores the taxability of maturity bonuses in monthly annuity policies.

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Chartered Accountant
86505 Points Posted on 06 July 2022
As printed on document i.e 01/07
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On 06 July 2022 at 22:32
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31 Points Posted on 28 July 2022

Lic has offered a bonus on maturity in jeevendhara table 96 . Is thus bonus exempt from income tax . Annuity is not exempt but what about bonus ?

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On 28 July 2022 at 11:42
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Chartered Accountant
86505 Points Posted on 28 July 2022
Bonus is exempt if premium amount is less than 10%/15%/20% of sum assured as the case may be .
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On 28 July 2022 at 23:04
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31 Points Posted on 29 July 2022

Sir , its a monthly annuity policy so what is sum assured in this case ? 

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On 29 July 2022 at 00:53
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Chartered Accountant
86505 Points Posted on 29 July 2022
If it is monthly annuity then bonus is taxable.
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On 29 July 2022 at 07:12

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