LIC's New Jeevan Anand Plan (Table No- 815) is a combination of whole life policy and endowment.This combination provides financial freedom from death through the lifetime with the provision of payment of lump sum at the end of the selected policy term in the case of insured survival. It is a pure investment plan with high bonus facility and liquidity facility incorporated and saving. Jeevan Anand policy is whole life risk coverage even after maturity and full payout at maturity.
|Eligibility Criteria Of Jeevan Anand Plan|
|Minimum Age at Entry||18 Years (Completed)|
|Maximum Age at Entry||50 Years(Nearest Birthday)|
|Maximum Maturity Age||75 Years(Nearest Birthday)|
|Policy Term||15 Years to 35 Years|
|Minimum Sum Assured||100000/-|
|Maximum Sum Assured||Yearly, Half-Yearly, Quaterly, Monthly (NACH only)
|Rebate Of Mode Of Premium||Yearly-2%
Quaterly & Monthly-Nil
|High Sum Assured Rebate||1,00,000 to 1,95,000 - Nil
2,00,000 to 4,95,000 - 1.50% on B.S.A.
5,00,000 to 9,95,00 - 2.50 on B.S.A.
10,00,000 and Above - 3% on B.S.A.
|Loan||After payment of premiums for at least 3 full years|
|Surrender||Allowed after 3 year|
|Revival||Within 2 Years of lapse|
The death benefit as defined above shall not be less than 105% of total premiums* paid as on the date of death.
Sum Assured on Death shall be Higher of ~125% of Basic Sum Assured (1.25 x BSA) OR 10 times Annual Premium.(10 x AP).
Basic Sum Assured + Vested Simple Reversionary Bonuses + Final Additional Bonus, if Any, On the survival to the end of Policy Term.
under LIC Jeevan Anand Endowment plan Loan facility is available after payment of three full years premiums.