LIC New Jeevan Anand Plan is the most famous whole life endowment plan which is better known as “Zindagi ke sath bhi, Zindagi ke baad bhi”. This plan provides maturity at the end of policy term and after that provides free risk cover to the policyholder till the age of 100 years which ensures the financial independency of the nominee in absence of the policyholder.
LIC New Jeevan Anand Plan – USP’s
Let’s check some unique selling points of New Jeevan Anand Plan
Cover age group of 18 years to 50 years.
Risk cover up to 125% of sum assured from day 1.
Financial protection throughout the life time of the policyholder.
Financial independency to the nominee in case of sad demise of the policyholder.
Jeevan Anand Plan is available with helpful add-on riders like accidental rider and term rider for extra benefits to the policyholder.
Double tax benefit of section 80C and 10(10D).
Policyholders can avail loan facility on this plan after completing 3 years.
Maturity Benefit:
- Benefits payable at the end of Policy Term:Basic Sum Assured, along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable in lump sum on survival to the end of the policy term provided all due premiums have been paid.
Death Benefit:
- Provided all due premiums have been paid, the following death benefit shall be paid:
On Death during the policy term: Death benefit, defined as sum of Sum Assured on Death and vested Simple Reversionary Bonuses and Final Additional bonus, if any, shall be payable. Where, Sum Assured on Death is defined as higher of 125% of Basic Sum Assured or 10 times of annualised premium. This death benefit shall not be less than 105% of all the premiums paid as on date of death.
The premiums mentioned above exclude service tax, extra premium and rider premiums, if any.
On death of policyholder at any time after policy term: Basic Sum Assured
Eligibility Criteria of LIC New Jeevan Anand Plan:
| Minimum Age to Apply | 18 Years (Completed) |
| Maximum Age to Apply | 50 Years (Nearest Birthday) |
| Policy Term | 15 t0 35 Years |
| Maximum Maturity Age | 75 Years |
| Premium Paying Mode | Yearly, Half Yearly, Quarterly Monthly (SSS & NACH) |
| Basic Sum Assured | ₹ 1,00,000 and above (In Multiple of ₹ 5,000) |
| Loan | After 3 Years |
