Best LIC PolicyEndowment Plans

Jeevan Anand Plan 815

Lic’s new jeevan anand plan is a participating non linked  plan which offers cover for whole life even after payment of maturity amount. This plan is attractive combination of protection and saving. This combination provides financial protection against death throughout  the lifetime of the policy holder with the provision of payment of lump-sum  at the end of selected policy term in case of his/her survival

Key Feature

  • A plan that offers cover for whole life even after payment of maturity.
  • Risk coverage 125% of basic sum assured.
  • Saving oriented endowment plan.
  • High bonus and moderate premium.
  • The policy can be surrendered at the any time  during the policy term provided premiums have been paid for 3 years.
  • Loan facility available after the policy acquires paid up value.
  • Income tax rebate under section 80(c) up-to Rs 1,50000 per annum and Maturity is also Tax Free under section 10(10D)).
  • Double Accident Rider Available (up to Premium Paying Term Only).

Maturity Benefit:

On survival to the end of the policy term, basic sum assured along with vested simple reversionary bonuses(Depending upon the corporations experience) and final additional bonus, if any shall be payable.

Death Claim  Benefits :

Provided all due premiums have been paid, the following death benefit shall be paid:
On Death during the policy term: Death benefit, defined as sum of Sum Assured on Death and vested Simple Reversionary Bonuses and Final Additional bonus, if any, shall be payable. Where, Sum Assured on Death is defined as higher of 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.
The premiums mentioned above exclude service tax, extra premium and rider premiums, if any.
On death of policyholder at any time after policy term: Basic Sum Assured

Eligibility Criteria:

Minimum Age to Apply 18 Years (Completed)
Maximum Age to Apply 50 Years (Nearest Birthday)
Policy Term 15 to 35 Years
Maximum Maturity Age 75 Years
Premium Paying Mode Yearly, Half Yearly, Quarterly, Monthly (ECS Only)
Basic Sum Assured 100000 and above ( in multiples of 5000)
Loan After 3 years