Skip to main content

LIC New Jeevan Anand Policy

LIC New Jeevan Anand Policy:

It is an endowment + full life cover policy. It provides coverage after maturity till the death of insured.

Key Features:
  1. This is a whole life endowment plan. 
  2. On survival till maturity, benefits are paid and insurance continues till the death of the insured. 
  3. Death benefit: on death of the insured, assured sum is payable to the nominee. 
  4. Accidental death and other riders can be added at nominal top up. 
  5. Plan is tax exempted under 80(C) and 10(D).

Policy benefits:
  • Simple Reversionary bonus as declared by LIC. 
  • Death Benefits as below: 
    • payable to the nominee. Sum assured on death is defined as higher of 
      • 125% of the Basic Sum Assured as per policy terms
      • 10 x Annualized premium
      • Minimum of 105% of total payment is payable to the nominee
      • The basic sum assured is paid to the nominee. 
  • Maturity benefit:
    • Basic sum assured amount + accrued bonus
  • Accidental death and disability benefit:
    • Rider can be bought with the policy at nominal top up. 
    • on accidental death, the nominee gets extra sum over basic sum assured. 
  • Tax benefit:
    • Premium is exempted from tax under 80(C)
    • Maturity and sum assured is exempted from tax under 10(D)
To know more about the policy and any other details regarding LIC, mail us at tinytopic@gmail.com

Comments