LIC’s New Jeevan Anand Plan
LIC’s New Jeevan Anand Plan (UIN: 512N279V02)
A Non-Linked, Participating, Individual, Life Assurance Savings Plan
LIC’s New Jeevan Anand Plan offers a unique combination of protection and savings, ensuring financial security for the policyholder’s family in the event of their death, while also providing a lump sum amount at the end of the policy term if the policyholder survives.
Key Features:
- Protection and Savings: Offers financial protection against death throughout the policyholder’s lifetime, along with a lump sum payment upon survival at the end of the policy term.
- Loan Facility: Provides liquidity options through a loan facility.
Key Benefits:
- Death Benefit:
- During the Policy Term: Sum Assured on Death, vested Simple Reversionary Bonuses, and Final Additional Bonus (if any).
- After Policy Term: Basic Sum Assured.
- Maturity Benefit:
- On survival to the end of the policy term, Sum Assured on Maturity along with vested Simple Reversionary Bonuses and Final Additional Bonus (if any) will be paid.
- Participation in Profits:
- The policy participates in the corporation’s profits and is eligible for Simple Reversionary Bonuses declared during the policy term, provided it is in force. Final Additional Bonus may also be declared in specific cases.
Eligibility and Conditions:
- Minimum Basic Sum Assured: ₹1,00,000
- Maximum Basic Sum Assured: No Limit (in multiples of ₹5,000)
- Minimum Age at Entry: 18 years
- Maximum Age at Entry: 50 years
- Maximum Maturity Age: 75 years
- Policy Term: 15 to 35 years
Rider Benefits: Optional riders available for additional premium:
- Accidental Death and Disability Benefit Rider
- Accident Benefit Rider
- New Term Assurance Rider
- New Critical Illness Benefit Rider
Payment of Premiums:
Premiums can be paid yearly, half-yearly, quarterly, or monthly (through NACH only) or via salary deductions.
Grace Period:
- 30 days for yearly, half-yearly, and quarterly premiums.
- 15 days for monthly premiums.
Settlement Options:
- Death Benefit: Option to receive the death benefit in installments over 5, 10, or 15 years instead of a lump sum.
- Maturity Benefit: Option to receive the maturity benefit in installments over 5, 10, or 15 years instead of a lump sum.
For more details, visit the LIC website or contact your nearest LIC branch.