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Lic new jeevan anand plan (table no. 815)
The LIC New Jeevan Anand Plan is a dual benefit endowment and whole life insurance policy that provides a sum assured with bonuses at maturity, while offering lifelong life coverage until the insured's death or age 100. Benefits include maturity and death payouts, tax deductions on premiums under Section 80C, and optional accidental death riders. Eligibility criteria include an entry age of 18-65 years and a minimum sum assured of Rs. 100,000.
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Lic new jeevan anand plan (table no. 815)
- 1. LIC New JeevanAnand Plan Table no 815
- 2. LIC New JeevanAnand Plan Double benefit Endowment with Whole life plan. In this plan, Sum assured with Bonus will be paid back on maturity. But the policy will continue till the death of the life insured or they complete 100 years of age, whichever occurs earlier. A Sum assured will be paid to the nominee when the life insured expires after the policy term.
- 3. LIC New JeevanAnand Plan So it provides a risk coverage throughout the life of the insured person. An Accidental Death Benefit rider is available with some extra cost in this policy till the age of 70 years. Special feature of this plan is High bonus, High liquidity and Savings oriented.
- 4. Key Features Endowment cumwhole life plan. Life Cover continues till death. Simple Reversionary Bonus is payable on maturity or earlier death. Optional Rider – Accidental Death and Disability Benefit Rider
- 5. LIC New JeevanAnand Plan Benefits Maturity Benefit – On survival till the end of the Policy Tenure, the Policyholder gets the BasicSum Assured + accrued Simple Reversionary Bonus + Final Addition Bonus as Maturity Benefit and the policy continues to provide Life Coverage to the Insured for the rest of his life.
- 6. LIC New JeevanAnand Plan Benefits Death Benefit – In case of death of the Life Insured, Before the end of the Policy Term, the Sum Assured on Death + accrued Simple Reversionary Bonus + Final Addition Bonus are paid to the nominee as Death Benefit and the policy is terminated The Sum Assured on Death has been defined as higher of 125% of Basic Sum Assured or 10 times the Annualized Premium After the Policy Term, only the Basic Sum Assured is paid as Death Benefit whenever the Life Insured dies and the policy gets terminated thereafter
- 7. LIC New JeevanAnand Plan Benefits Income Tax Benefit – Life Insurance premiums paid up to Rs. 1,50,000 are allowed as a deduction from the taxable income each year under section 80C. The Maturity Benefit is also tax free under section 10(10)D subject to fulfilment of all terms and conditions.
- 8. Eligibility of LIC Jeevan Anand PremiumPayment Term: Regular Term Minimum Sum Assured: Rs 100,000 per annum Premium Payment Mode: Yearly, Half Yearly, Quarterly or Monthly Data Minimu m Maximu m Minimum Entry Age 18 Years 65 years Policy Term 5 75 minus Age at Entry
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