LIC's New Jeevan Anand Plan is a participating non-linked plan which offers an attractive combination of protection and savings. This combination provides financial protection against death throughout the lifetime of the policyholder with the provision of payment of lumpsum at the end of the selected policy term in case of his/her survival.
"Sum Assured + Vested Bonus + FAB if any." Where 'Sum Assured on Death' is defined as the 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.
Basic Sum Assured
On survival Basic Sum Assured + Vested Bonus + FAB if any.
The Policy can be surrendered at any time during the policy term provided atleast 3 full years premiums have been paid.
Loan Facillity is available under this plan, after payment of premiums for at least 3 full years.
Premium paid under this plan is eligible for TAX rebate under section 80c. Maturity under this plan is free under sec 10(10D).
