Key Features of LIC New Jeevan Anand
- LIC Jeevan Anand is a Endowment cum Whole life plan.
- Full payout at the end of policy term and life cover thereafter.
- Maturity benefit is Sum Assured + Bonus and the life cover continues till death.
- Death benefit after policy maturity is only Sum Assured.
- Death benefit before policy maturity is Sum Assured + Accured bonus.
- Accidental death and disability benefit is an inbuilt feature of Jeevan Anand plan.
- Jeevan Anand provides critical Illness benefit.
- Policy holder can take a loan against the policy after paying a premium for three years.
This is an Endowment cum Whole life plan with the option of paying a premium monthly, quarterly, biannually or annually.
Premiums paid towards New Jeevan Anand is eligible for Tax rebate under Section 80C each year upto Rs.1,50,000. The Maturity/ Death claim paid under Jeevan Anand is 100% Tax-free under Section 10(10d)
Eligibility Conditions And Restrictions
- Minimum Age : 18 Years Completed
- Maximum Age : 50 years
- 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/Half yearly/Quarterly/Monthly/(Through Bank)
- Loan : Eligible After 3 years
- On Death Before Maturity 1.25% sum assured + Bonus Payable
- On Maturity Sum Assured + Bonus Payable