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.
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)
an additional sum assured is paid if death is due to accident till 70 years of age.
additional sum assured is payable in installments. Additional rider available : Critical Illness rider.
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:
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
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