The LIC New Jeevan Anand Policy couples the benefits of a whole life insurance policy and an endowment policy. As the name suggests, it provides an insurance coverage throughout the life of an individual even after the plan has matured. As the term comes to an end, the policy holder will get the assured sum along with bonuses that have been accumulated. On his demise, his nominee will again be given the death benefit payout. true; LIC is there for you, Zindagi ke Saath bhi, Zindagi ke Baad bhi
Key Features of LIC New Jeevan Anand
- LIC Jeevan Anand is a Endowment cum Whole life plan.
- Full payout at the end of policy term and life cover thereafter.
- Maturity benefit is Sum Assured + Bonus and the life cover continues till death.
- Death benefit after policy maturity is only Sum Assured.
- Death benefit before policy maturity is Sum Assured + Accured bonus.
- Accidental death and disability benefit is an inbuilt feature of Jeevan Anand plan.
- Jeevan Anand provides critical Illness benefit.
- Policy holder can take a loan against the policy after paying a premium for three years.
This is an Endowment cum Whole life plan with the option of paying a premium monthly, quarterly, biannually or annually.
Premiums paid towards New Jeevan Anand is eligible for Tax rebate under Section 80C each year upto Rs.1,50,000. The Maturity/ Death claim paid under Jeevan Anand is 100% Tax-free under Section 10(10d)
Eligibility Conditions And Restrictions
- Minimum Age : 18 Years Completed
- Maximum Age : 50 years
- Maximum Maturity Age : 75 years
- Policy Term : 15 years to 35years
- Minimum Sum Assured : Rs,1,00,000
- Maximum Sum Assured : No limit
- Premium Payment : Yearly/Half yearly/Quarterly/Monthly/(Through Bank)
- Loan : Eligible After 3 years
- On Death Before Maturity 1.25% sum assured + Bonus Payable
- On Maturity Sum Assured + Bonus Payable