LIC Jeevan Anand Plan
The LIC New Jeevan Anand Policy couples the benefits of a whole life insurance policy and an endowment policy. As the name suggests, it provides an insurance coverage throughout the life of an individual even after the plan has matured. As the term comes to an end, the policy holder will get the assured sum along with bonuses that have been accumulated. On his demise, his nominee will again be given the death benefit payout.
true; LIC is there for you, Zindagi ke Saath bhi, Zindagi ke Baad bhi
Key Features of LIC New Jeevan Anand Plans:
- LIC Jeevan Anand is a Endowment cum Whole life plan.
- Maturity benefit is Sum Assured + Bonus and the life cover continues till death.
- Death benefit after policy maturity is only Sum Assured.
- Death benefit before policy maturity is Sum Assured + Accured bonus.
- Accidental death and disability benefit is an inbuilt feature of Jeevan Anand plan.
- Jeevan Anand provides critical Illness benefit.
- In Jeevan Anand plan additional premium can be given to people with hazardous occupation.
Income Tax Benefit :
Premiums paid under New Jeevan Anand plan is eligible for Tax rebate, as premiums paid each year is allowed for deduction from taxable income under Section 80C upto Rs.1,50,000
The Maturity/ Death claim paid under New Jeevan plan is 100% Tax-free under Section 10 (10d)
Additional Features & Benefits of LIC Jeevan Anand Plan:
Accidental death benefit rider
an additional sum assured is paid if death is due to accident till 70 years of age.
Accidental disability benefit ridera
additional sum assured is payable in installments. Additional rider available : Critical Illness rider.
LIC New Jeevan Anand Policy Details
This is an Endowment cum Whole life plan with the option of paying a premium monthly, quarterly, biannually or annually.
The key features of this policy are:
- Full payout at the end of policy term and life cover thereafter
- Maturity benefit of sum assured and bonuses
- Death benefit before policy matures: sum assured and bonuses accrued
- Death benefit after policy matures: Only sum assured
- Inbuilt accidental death and disability benefits
- Provides critical illness benefit as additional rider
- Premiums paid are eligible for tax rebate under section 80C.
- Maturity/ death benefits exempted from taxes under section 10(10D)
- Policy holder can take a loan against the policy after paying a premium for three years
- In case the payment for a premium lapses, a 30 day grace period is given after which the policy will lapse. However, the policy may be revived within 2 years by paying the lapsed premium amounts
- The plan may be cancelled within 15 days of its inception as long as no claims have been made
- The policy may be surrendered after three years at which time a surrender value will be paid.
This policy can be bought by anyone between the age of 18 years and 50 years. For people in hazardous occupations, an additional premium can be given. So, hurry contact an authorized LIC agent today.
|Eligibility Conditions And Restrictions|
|Minimum Age||18 Years Completed|
|Maximum Maturity Age||75 years|
|Policy Term||15 years to 35years|
|Minimum Sum Assured||Rs,1,00,000|
|Maximum Sum Assured||No limit|
|Premium Payment||Yearly/Halfly/Quarterly/Monthly/(Through Bank)|
|Loan||Eligible After 3years|
|Surrender||Eligible After 3 Years|
|On Death Before Maturity||1.25% sum assured + Bonus Payable|
|On Maturity||Sum Assuered
+ Bonus Payable
Frequently Asked Questions:
- What happens when we stop paying the LIC Jeevan Anand Premiums? -Policy lapses, Insurance Risk cover stops, Can Surrender the policy after 3 years from date of commencement
- Can I take loan in against my Jeevan Anand Policy? -Yes, after 3 years of full premium paid
- Which one is better LIC Jeevan Anand Policy or PPF? -LIC Jeevan Anand, as it has Insurance cover, fixed premium, loan and Surrender option available after 3 years
- I have LIC Jeevan Anand Policy and Paid premium of 8 years, If I stop further premiums what would happen to paid premiums? -You can claim Surrender value and take back your amount
- Should I purchase LIC Jeevan Anand Cum Whole Life Policy? -LIC Jeevan Anand plan is inclusive of Whole life cover
- What is the best plan to avail in the short term, which not only covers accidental and death event but also handsome benefits. -Jeevan Labh plan, Minimum premium paying term is 10 years