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LIC’s NEW JEEVAN ANAND PLAN
Plan No. 815
LIC’s New Jeevan Anand Plan– Benefits
Jeevan Anand
Plan No. 149

New Jeevan Anand
Plan No. 815

Maturity Benefit

Maturity Benefit

Basic Sum Assured along with

Basic Sum Assured along with

Vested Simple Reversionary Bonuses

Vested Simple Reversionary Bonuses

and

and

Final Additional Bonus, if Any.

Final Additional Bonus, if Any

Death Benefit

During the policy term

Modification‘Sum Assured
on Death'
instead of BSA

Death Benefit

During the policy term

Basic Sum Assured(BSA) along

‘Sum Assured on Death’ along

with Vested Simple Reversionary

with Vested Simple Reversionary

Bonuses and

Bonuses and

Final Additional Bonus, if any.

Final Additional Bonus, if any.

After expiry of policy term

After expiry of policy term

Basic Sum Assured

Basic Sum Assured
LIC’s New Jeevan Anand Plan– Benefits

What is Sum Assured on Death?
Sum Assured on Death shall be Higher of ~

125% of Basic Sum Assured (1.25 x BSA)
OR

10 times Annual Premium.(10 x AP).
≈≈≈≈

The death benefit as defined above shall not be less than

105% of total premiums* paid as on the date of death .
[*excluding taxes, extra premiums and premiums for riders, if any]
LIC’s New Jeevan Anand Plan–
Eligibility Conditions and Restrictions

Particulars

Jeevan Anand
Plan No. 149

New Jeevan Anand
Plan No. 815

Age at entry

18 to 65 years

18 to 50 years

Age at
Maturity

Maximum 75 years

Maximum 75 Years

Policy Term

5 to 57 years

15 to 35 years

Premium
mode

Yearly, Half-yearly,
Quarterly, Monthly (SSS
or ECS)

Yearly, Half-yearly,
Quarterly, Monthly (SSS
or ECS)

Basic Sum
Assured

100000 and above

100000 and above
( In multiples of 5000)

Maximu
m Age at
entry
reduced.

Policy
term
modified
LIC’s New Jeevan Anand Plan– Rebates
Rebate

Mode

Rate
modified

Plan 149

Plan No. 815

Yearly

3% of tabular Premium

2% of tabular premium

Half-yearly

1.5% of tabular premium

1% of tabular premium

Quarterly

Nil

Nil
Slab & Rate
modified

Plan No 149
Jeevan Anand

Plan No. 815
New Jeevan Anand

Basic Sum Assured

Rebate (Rs.)

Basic Sum Assured

Rebate (Rs.)

10,00,000 and above

1.75‰ BSA

10,00,000 and above

3.00‰ BSA

5,00,000 to 9,95,000

1.50‰ BSA

5,00,000 to 9,95,000

2.50‰ BSA

3,00,000 to 4,95,000

1.00‰ BSA

2,00,000 to 4,95,000

1.50‰

1,00,000 to 2,95,000

Nil

1,00,000 to 1,95,000

Nil
LIC’s New Jeevan Anand Plan– Loan
Jeevan Anand
Plan No. 149

New Jeevan Anand
Plan No.815

Available after payment of 3 full

Available after payment of 3 full

years premiums.

years premiums.

Loan granted shall be 90% of the

The maximum amount of loan that

Surrender Value in case of inforce

can be granted as a percentage of

policies and 85% of the Surrender

Surrender Value shall depend on the

Value in case of Paid-up policies

Policy Term, as given in the table

irrespective of the policy term.

below.

Foreclosure action was initiated on

Foreclosure action shall not be taken

default of 2 or more half-yearly loan

under fully paid-up and inforce

interest installments.

policies even if there is a default of

loan interest.
Policy Term

Upto 23

24 to 27

28 to 31

32 to 35

% for inforce policies

90%

80%

70%

60%

% for Paid-up policies

80%

70%

60%

50%

% of loan
modified
LIC’s New Jeevan Anand Plan– Surrender Value
Plan No.149

Plan No. 815

Guaranteed Surrender Value (GSV)

Guaranteed Surrender Value (GSV)

Available after payment of 3 full
years premiums.

Available after payment of 3 full
years premiums.

GSV shall be equal to 30% of the total
premiums paid less First Year
Premium and extra premium, if any.

GSV shall be a percentage of total
premiums paid (net of taxes)
excluding extra premium, if any and
premium paid for riders,if opted for.
Examples of GSV factors applicable
for total premiums paid
Policy Year ~ GSV factor
3 = 30%
5 = 50%
t -1 = 80% (t=Policy Term)

GSV %
modified

Cash Value of vested bonuses, if any.
Bonus
Payable
modified

No
Change

GSV factor applicable to vested
bonus,if any. Examples of Vested
bonus factors –
Year of SV – Policy Term – Factor
3
15
17.66%
19
25
20.85%
29
30
30%
LIC’s New Jeevan Anand Plan– Surrender Value
No change in SSV
Jeevan Anand
Plan No. 149

New Jeevan Ananad
Plan 815

Special Surrender Value (SSV)

Special Surrender Value (SSV)

Surrender Value shall be the
discounted value of the Paid-up Sum
Assured and vested simple
reversionary bonuses.

Surrender Value shall be the
discounted value of the Paid-up Sum
Assured and vested simple
reversionary bonuses.

The discount factors shall be
surrender value factors as provided
in Table-1A and 2A(whole life) of the
Special Surrender Value Booklet and
will depend upon the policy term and
duration elapsed since the
commencement of the policy.

The discount factors shall be Special
surrender value factors as provided
in Table-1A and 2A(Whole life) of the
Special Surrender Value Booklet and
will depend upon the policy term and
duration elapsed since the
commencement of the policy.

Surrender Value Payable

Surrender Value payable

The Higher of Guaranteed Surrender
Value and Special Surrender Value
shall be payable.

The Higher of Guaranteed Surrender
Value and Special Surrender Value
shall be payable.
LIC’s New Jeevan Anand Plan
Jeevan Anand
Plan No. 149

New Jeevan Anand
Plan No. 815

A Policy may be revived
within a period of 5 years from
the date of first unpaid
premium.

A Policy may be revived
within a period of 2 years from
the date of first unpaid
premium.

Accident Benefit inbuilt.

Accident Benefit as a rider.

Taxes, if any , were borne by the
corporation.

Taxes, if any, shall be applicable at
the prevailing rates and borne by
the policyholder as per rules.

There shall be no change in the following Items
Back Dating
Grace Period
Paid-up Value
Assignment/Nomination

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New jeevan anand 815 2 - LIC - Datacomp Web Technologies

  • 1. LIC’s NEW JEEVAN ANAND PLAN Plan No. 815
  • 2. LIC’s New Jeevan Anand Plan– Benefits Jeevan Anand Plan No. 149 New Jeevan Anand Plan No. 815 Maturity Benefit Maturity Benefit Basic Sum Assured along with Basic Sum Assured along with Vested Simple Reversionary Bonuses Vested Simple Reversionary Bonuses and and Final Additional Bonus, if Any. Final Additional Bonus, if Any Death Benefit During the policy term Modification‘Sum Assured on Death' instead of BSA Death Benefit During the policy term Basic Sum Assured(BSA) along ‘Sum Assured on Death’ along with Vested Simple Reversionary with Vested Simple Reversionary Bonuses and Bonuses and Final Additional Bonus, if any. Final Additional Bonus, if any. After expiry of policy term After expiry of policy term Basic Sum Assured Basic Sum Assured
  • 3. LIC’s New Jeevan Anand Plan– Benefits What is Sum Assured on Death? Sum Assured on Death shall be Higher of ~ 125% of Basic Sum Assured (1.25 x BSA) OR 10 times Annual Premium.(10 x AP). ≈≈≈≈ The death benefit as defined above shall not be less than 105% of total premiums* paid as on the date of death . [*excluding taxes, extra premiums and premiums for riders, if any]
  • 4. LIC’s New Jeevan Anand Plan– Eligibility Conditions and Restrictions Particulars Jeevan Anand Plan No. 149 New Jeevan Anand Plan No. 815 Age at entry 18 to 65 years 18 to 50 years Age at Maturity Maximum 75 years Maximum 75 Years Policy Term 5 to 57 years 15 to 35 years Premium mode Yearly, Half-yearly, Quarterly, Monthly (SSS or ECS) Yearly, Half-yearly, Quarterly, Monthly (SSS or ECS) Basic Sum Assured 100000 and above 100000 and above ( In multiples of 5000) Maximu m Age at entry reduced. Policy term modified
  • 5. LIC’s New Jeevan Anand Plan– Rebates Rebate Mode Rate modified Plan 149 Plan No. 815 Yearly 3% of tabular Premium 2% of tabular premium Half-yearly 1.5% of tabular premium 1% of tabular premium Quarterly Nil Nil Slab & Rate modified Plan No 149 Jeevan Anand Plan No. 815 New Jeevan Anand Basic Sum Assured Rebate (Rs.) Basic Sum Assured Rebate (Rs.) 10,00,000 and above 1.75‰ BSA 10,00,000 and above 3.00‰ BSA 5,00,000 to 9,95,000 1.50‰ BSA 5,00,000 to 9,95,000 2.50‰ BSA 3,00,000 to 4,95,000 1.00‰ BSA 2,00,000 to 4,95,000 1.50‰ 1,00,000 to 2,95,000 Nil 1,00,000 to 1,95,000 Nil
  • 6. LIC’s New Jeevan Anand Plan– Loan Jeevan Anand Plan No. 149 New Jeevan Anand Plan No.815 Available after payment of 3 full Available after payment of 3 full years premiums. years premiums. Loan granted shall be 90% of the The maximum amount of loan that Surrender Value in case of inforce can be granted as a percentage of policies and 85% of the Surrender Surrender Value shall depend on the Value in case of Paid-up policies Policy Term, as given in the table irrespective of the policy term. below. Foreclosure action was initiated on Foreclosure action shall not be taken default of 2 or more half-yearly loan under fully paid-up and inforce interest installments. policies even if there is a default of loan interest. Policy Term Upto 23 24 to 27 28 to 31 32 to 35 % for inforce policies 90% 80% 70% 60% % for Paid-up policies 80% 70% 60% 50% % of loan modified
  • 7. LIC’s New Jeevan Anand Plan– Surrender Value Plan No.149 Plan No. 815 Guaranteed Surrender Value (GSV) Guaranteed Surrender Value (GSV) Available after payment of 3 full years premiums. Available after payment of 3 full years premiums. GSV shall be equal to 30% of the total premiums paid less First Year Premium and extra premium, if any. GSV shall be a percentage of total premiums paid (net of taxes) excluding extra premium, if any and premium paid for riders,if opted for. Examples of GSV factors applicable for total premiums paid Policy Year ~ GSV factor 3 = 30% 5 = 50% t -1 = 80% (t=Policy Term) GSV % modified Cash Value of vested bonuses, if any. Bonus Payable modified No Change GSV factor applicable to vested bonus,if any. Examples of Vested bonus factors – Year of SV – Policy Term – Factor 3 15 17.66% 19 25 20.85% 29 30 30%
  • 8. LIC’s New Jeevan Anand Plan– Surrender Value No change in SSV Jeevan Anand Plan No. 149 New Jeevan Ananad Plan 815 Special Surrender Value (SSV) Special Surrender Value (SSV) Surrender Value shall be the discounted value of the Paid-up Sum Assured and vested simple reversionary bonuses. Surrender Value shall be the discounted value of the Paid-up Sum Assured and vested simple reversionary bonuses. The discount factors shall be surrender value factors as provided in Table-1A and 2A(whole life) of the Special Surrender Value Booklet and will depend upon the policy term and duration elapsed since the commencement of the policy. The discount factors shall be Special surrender value factors as provided in Table-1A and 2A(Whole life) of the Special Surrender Value Booklet and will depend upon the policy term and duration elapsed since the commencement of the policy. Surrender Value Payable Surrender Value payable The Higher of Guaranteed Surrender Value and Special Surrender Value shall be payable. The Higher of Guaranteed Surrender Value and Special Surrender Value shall be payable.
  • 9. LIC’s New Jeevan Anand Plan Jeevan Anand Plan No. 149 New Jeevan Anand Plan No. 815 A Policy may be revived within a period of 5 years from the date of first unpaid premium. A Policy may be revived within a period of 2 years from the date of first unpaid premium. Accident Benefit inbuilt. Accident Benefit as a rider. Taxes, if any , were borne by the corporation. Taxes, if any, shall be applicable at the prevailing rates and borne by the policyholder as per rules. There shall be no change in the following Items Back Dating Grace Period Paid-up Value Assignment/Nomination