The plans cover the entire lifetime of the policy holder and provide the sum assured in case of the unfortunate demise of the person. LIC New Jeevan Anand Plan (T-915) is one of the most popular plan of LIC. It’s a Ideal combination of Whole Life Plan and Endowment Plan. The Fact that makes it so popular is the triple benefits the policyholder enjoys under this scheme- Death, Maturity and post maturity benefits. This combination provides insurance cover throughout the lifetime of the policyholder even after maturity without paying insurance premium after maturity.
Why New Jeevan Anand
The provisions and the services it provides are the states of the art and the lump-sum money, in the end, will never make you feel financially needful.
- This policy likewise deals with liquidity needs through its loan office.
- Ideal combination of Endowment Assurance & Whole Life Plan.
- Risk Cover up to 125% Of Basic Sum Assured.
- Get Financial Protection Against Death Throughout Your Lifetime.
- Provision of Lump sum Payment at the End of the Selected Term on Survival.
- Leave A Legacy For Loved Ones.
- Eligible for all Bonuses and Final Addition Bonuses declared by LIC.
- Term Rider Benefit Available.
- Double Accident Rider Available (up to Premium Paying Term Only).
- Double Tax Benefit Available (Premium Paid gives 80C Tax Benefit up to Rs. 1,50,,000 and Maturity is also Tax Free under section 10(10D)).
- On the unfortunate death of the policy holder, the sum assured on death will be payable and any kind of loyalty additions will also be provided. The benefit will be at least 125% of the premiums paid or 10 times the annualized premium rates. Provided all due premiums have been paid, the following death benefit shall be paid:
- On Death during the policy term: Death benefit, defined as sum of Sum Assured on Death and vested Simple Reversionary Bonuses and Final Additional bonus, if any, shall be payable. Where, Sum Assured on Death is defined as higher of 125% of Basic Sum Assured or 10 times of annualized premium. This death benefit shall not be less than 105% of all the premiums paid as on date of death.
- The premiums mentioned above exclude service tax, extra premium and rider premiums, if any. On death of policyholder at any time after policy term: Basic Sum Assured
Benefits payable at the end of Policy Term: Basic Sum Assured, along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable in lump sum on survival to the end of the policy term provided all due premiums have been paid.
|Minimum Age to Apply||18 Years (Completed)|
|Maximum Age to Apply||50 Years (Nearest Birthday)|
|Policy Term||15 to 35 Years|
|Maximum Maturity Age||75 Years|
|Premium Paying Mode||Yearly, Half Yearly, Quarterly, Monthly (ECS Only)|
|Basic Sum Assured||100000 and above ( in multiples of 5000)|
|Loan||After 3 years|