LIC’s Jeevan Anand: Your Fund Booster

Life Insurances 187 views

Are you looking for a life insurance policy which can help in fetching you good amount along with better benefits. Life insurace is the best way to grow your money for a longer period and getting various benefits and coverage for your family and loved ones. If you are married or you have dependents in your family, so getting yourself secured is the best option. There are many banks and financial firms which offer life insurance policies. You can choose a policy to meet your financial requirements.

LIC's New Jeevan Anand Plan is participating non-linked plan. It offers attaractive combination of protection and savings. This is a perfect combination of financial protection along with other benefits. It offers you protection against death throughout the lifetime of the insured with the option of lumpsum at the end of the selected policy term in case survival of the policyholder. This plan also takes care of liquidity needs through its loan facility.

Death benefits: The death benefits shall be paid provided all due premiums have been paid.

On death during the policy term: Death benefit, defined as sum assured on death and vested simple reversionary bonuses and final additional bosun, if any, shall be payable. Sum assured on Death is defined as higher of 125% of the basic sum assured or 10 times of annualaised premium. The death benefits shall not be less than the premiums paid as on date of death.

Basic sum assured: The basic sum assured along with vested simple reversionary bonuses and final additional bonus.

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Participation profits: The policy shall participate in profits of the corporation and shall be entitled to receive simple reversionary bonuses declared as per the experience of the corporation.

Final bonus may also be declared under the plan in the year when the policy results into death claim during the polich term or due for survival benefit payment provided the policy is full force and has run for certain minimum term.

Accidental death and disability benefit rider: LIC's accidental death and disability benefit rider is available as an optional rider by payment of additional premium during the policy term. In case of accidental death during the policy term, accident benefit sum assured will be payable as lumpsum along with the death benefit under the basic plan.

Eligibility condition and other restriction:

  • Minimum basic sum assured: Rs. 100,000
  • Maximum basic sum assured: No Limit
  • The basic sum assured shall be in multiple of Rs. 5000/-
  • Minimum age at enty: 18 years
  • Maximum age at entry: 50 years
  • Maximum maturity age: 75 years
  • Minimum policy term: 15 years
  • Maximum policy term: 35 years

 

For LIC's accidental death and disability benefit rider:

Minimum accident benefits sum assured: Rs. 100,000

Maximum accident benefit sum assured: An amout equal to the basic plan subject to the maximum of Rs. 50 lakh overall limit taking all existing policies of the life assured under individual as well as group schemes.

Payment of premiums: You can choose a payment mode or duration as per your convenience. You can choose the payment mode on yearly, half-yearly, quarterly or monthly basis.

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