New Jeevan Anand

New-Jeevan-Anand
LIC of India introduced new version of Jeevan Anand (Table No 149) in a new avatarĀ  “New Jeevan Anand” (Table No 815).

No doubt the previous version of Jeevan Ananad had great features compared to any policy in its era. The New Jeevan Anand is a one step ahead it offers more risk cover and great life insurance features.

Features of Jeevan Anand

This is a combination of endowment and whole life plan. Where you need to pay premiums for a specific period, get a lumpsum after the premium paying terms ends, the life insurance contimues for years and years (i.e. you will be covered for whole life).

Bonus in New Jeevan Anand

Since New Jeevan Anand is a with profit plan, LIC will declare the bonuses time to time. There are 2 type of bonuses paid Simple revisionary bonuses and final addition bonus.

All bonuses declared by LIC of India will be guaranteed, if the policy holder pay the full premiums as per the contract.

Premium Options

You can pay yearly premiums, half yearly premiums, quaterly premiums. Note: Monthly premiums will be allowed through ECS facility

How New Jeevan Anand works

You as a policyholder can decides the sum assured and term for which you want to pay premiums.

On Maturity He/She gets Sum Assured with Bonuses and final addition bonuses + Life time insruace cover
On Death
- before expiry of term Sum Assured on Death + Bonus (Till Date) + Final Addition Bonus (if any)
- after expiry of term Basic Sum Assured

Sum Assured on Death = higher of (125% of Basic Sum Assured / 10 times of Annual Premium)

A healthy person with in the age group of 18 to 50yrs can buy Jeevan Anand
Premiums can be paid in yearly, half-yearly, quaterly and monthly mode. Minimum term is 15yrs and maximum term is 35yrs
Guarranted Surrender value is payable after 3yrs, Loan will be granted as per the rules of corporation

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