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NEW JEEVAN NIDHI

Lic's new Jeevan Nidhi is a with profit conventional pension plan. The plan offers death cover during defferment period and annuity on survival to the date of vesting.

 


Salient features:
Minimum Sum Assured: Rs.1,00,000/- for Regular premium
        Rs.1,50,000/- for Single premium
Age Eligibility: 20 to 60 years (58 for regular premium)
Deferment period: 5 to 35 years for single premium
        7 to 35 years for regular premium
Minimum vesting age: 55 years
Maximum vesting age: 65 years
Premium Mode: Yearly, Half yearly, Quaterly, Monthly and Single

 


Maturity (Vesting) Benefit:
On vesting, provided the policy is in full force, an amount equal to Basic Sum Assured + Guaranteed Addition + Simple Revisionary Bonus + Final Additional Bonus (if any) shall be given.
Upon Vesting, there are two options available to the policy holder:
1. He may choose to withdraw 1/3rd of the corpus tax free and avail annuity(pension) from the remaining 2/3rd of the corpus or take annuity from the entire corpus
2. He may choose to purchase a single premium Deferred Annuity Plan

Insurance Benefit:
During first 5 years policy term: Basic Sum Assured + Accrued Guaranteed Addition shall be paid as lump sum or in the form of an annuity or partly in lump sum and balance in the form of an annuity to the nominee.

After first 5 years of policy term: Basic Sum Assured + Accrued Guaranteed Addition Simple revisionary and final additional bonus if any shall be paid as lump sum or in the form of an annuity or partly in lump sum and balance in the form of an annuity to the nominee.

Death Benefit:
During first 5 years policy term: Basic Sum Assured + accrued Guaranteed Addition shall be paid as lump sum or in the form of an annuity or partly in lump sum and balance in the form of an annuity to the nominee, provided policy is in full force.

After first 5 years of policy term: Basic Sum Assured along with accrued Guaranteed Addition, Simple Reversionary and Final Additional Bonus, if any, shall be paid as lump sum or in the form of an annuity or partly in lump sum and balance in the form of an annuity to the nominee, provided the policy is in full force.






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