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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
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.
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
|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|