LIC’S NEW JEEVAN ANAND (TABLE NO. 815)
LIC NEW JEEVAN ANAND is most popular plan in LIC. This is a combination of endowment saving and whole life insurance plan. The risk coverage under this plan continues even after the policy term and the death benefit is paid even if the insured dies after the completion of the policy term.
WHY CHOOSE THIS PLAN:
- Whole Life Assurance Plan With Profits.
- Regular Premium Payments option.
- The benefits on maturity is paid to insured and the plan still continues to be in force.
- Accidental and Disability riders available.
BENEFITS OF PLAN:
On Death (during the policy term): If insured dies during the policy term , sum assured on death + vested bonuses and final additional bonus ,if any, shall be payable to nominee , where sum assured on death is higher of 125% of basic sum assured or 10 times of annualized premium .
On Death (after expiry of the policy term): If insured dies after expiry of policy term basic sum assured shall be payable.
On Maturity: On survival to the end of the policy term , Basic sum assured along with vested simple reversionary bonuses and final additional bonus , if any , shall be payable.
Plan Parameters
| Age of Entry | 18 to 50 years |
| Premium Paying Mode | Yearly, Half Yearly, Quarterly, Monthly |
| Policy Term | 15 to 35 Years |
| Basic Sum Assured | 100000 and above ( in multiple of 5000) |
| Policy Revival | within 2 year |
| Rebate | 2% on yearly, 1% on Half Yearly, Nil on Quarterly |
| Loan | After 3 years |
| Surrender | After 3 years of full premium payment |
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