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New Jeevan Anand (Table No. 185)

 LIC’s New Jeevan Anand is unique plan which offers an attractive combination of protection and savings. It provides financial protection against death throughout the lifetime of the policyholder with the provision of payment of lumpsum at the end of the selected policy term in case of his/her survival. Shortly, it gives double benefit, first at the time of end of policy term and second on the death of policyholder.
 

Benefits:
Maturity Benefit:
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.
 

Death Benefit:
On Death during the policy term, Sum Assured on Death along with vested Simple Reversionary Bonuses and Final Additional bonus, if any, shall be payable.
Sum Assured on Death =  125% of Basic Sum Assured or 10 times of annualised premium. This death benefit shall not be less than 105% of all the premiums paid as on date of death.
 

On death of policyholder at any time after policy term: Basic Sum Assured
 

Optional Benefit:
LIC’s Accidental Death and Disability Benefit Rider: LIC’s Accidental Death and Disability Benefit Rider is available as an optional rider by payment of additional premium during the policy term. In case of accidental death during the policy term, Accident Benefit Sum Assured will be payable as lumpsum along with the death benefit under the basic plan. In case of accidental permanent disability arising due to accident within 180 days from the date of accident, an amount equal to the Accident Benefit Sum Assured will be paid in equal monthly installments spread over 10 years.

Eligibility Conditions
Basic Sum Assured
            Minimum: Rs. 1,00,000        Maximum: No Limit
Age At Entry
            Minimum: 18 Years               Maximum: 50 Years
Policy Term:
             Minimum: 15 Years              Maximum: 35 Years
 

Mode of Premiums:
Yearly, Half  Yearly, Quarterly or Monthly intervals through ECS/SSS over the policy term.
 

Mode Rebate:
Yearly mode - 2% of Tabular Premium
Half-yearly mode - 1% of Tabular premium
Quarterly & Monthly mode - NIL
 

High Sum Assured Rebate:
1, 00,000 to 1, 95,000 - Nil
2, 00,000 to 4, 95,000 - 1.50%o
5, 00,000 and 9, 95,000 - 2.50%.
10, 00,000 and above - 3.00%

Tax Rebate: 

All premiums amount paid during the policy term is Tax rebate u/s 80C and maturity amounts after end of the policy is tax free u/s 10 10(D).

Policy Loan:  

Loan facility available after 3 years full payment.

Cooling-off period:
If the Policyholder is not satisfied with the “Terms and Conditions” of the policy may be returned to us within 15 days from the date of receipt of the policy bond stating the reasons of objections.


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