LIC New Jeevan Anand Plan: Premium, Sum Assured, Eligibility, Other Details Here

LIC New Jeevan Anand offers combination of protection and savings.

LIC Insurance News: Life Insurance Corporation (LIC) of India, the country’s largest life insurance company, which offers various insurance products ranging from insurance plans, pension plans, unit plans, endowment plans and money back plans among other plans is offering an insurance plan known as LIC Jeevan Anand plan which offers an attractive combination of protection and savings, LIC said on its website LIC’s New Jeevan Anand plan 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, LIC noted. (Also Read: All You Need To Know LIC Jeevan Shanti Pension Plan)

LIC New Jeevan Anand Plans: Benefits, Eligibility, Premium Payments, Sum Assured And Other Details Here:

The minimum age for buying the LIC New Jeevan Anand policy is 18 years and maximum age is 50 years, LIC said on its website.

The maximum maturity age for the LIC New Jeevan Anand policy is 75 years, with minimum policy term of 15 years and maximum policy term of 35 years.

Any individual can buy LIC New Jeevan Anand policy for minimum basic sum assured of Rs 1 lakh and there is no maximum limit for the sum assured. (Also Read: LIC Jeevan Lakshya Plan: Premium, Maturity Benefits, Other Details Here)

LIC New Jeevan Anand plan benefits:

Under the LIC New Jeevan Anand Plan, the policy holder will get basic sum assured, along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any.

“The policy shall participate in profits of the Corporation and shall be entitled to receive simple reversionary bonuses declared as per the experience of the Corporation during policy term, provided the policy is in full force,” LIC added. (Also Read: LIC Jeevan Labh Policy: Premium, Eligibility, Sum Assured, Other Benefits Here)

The LIC New Jeevan Anand plan also takes care of liquidity needs through its loan facility.

Here are sample premium rates per Rs 1,000 payable for LIC New Jeevan Anand Plan:

 Policy Term (in years)
Age (in years) 15 25 35
20 79.05 44.30 29.95
30 82.45 46.75 32.30
40 88.20 51.40 37.10
50 97.70 59.65

Premiums can be paid regularly at yearly, half-yearly, quarterly or monthly intervals for LIC New Jeevan Anand policy over the Policy Term, LIC noted. (Also Read: LIC Jeevan Pragati Policy: Sum Assured, Premium, Other Details Here)

Premiums paid towards the LIC New Jeevan Anand Policy qualify for exemption under the Income Tax Act.

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