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3.79 

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LIC JEEVAN ANAND present need and future security
Nov 06, 2016 08:23 AM 25357 Views

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LIC New Jeevan Anand Policy 815 is a combination of endowment and whole life policy. New Jeevan Anand LIC Policy provides insurance cover for entire life of the insured person. It is a pure investment plan with high bonus facility and liquidity facility incorporated and saving point. LIC New Jeevan Anand 815 Policy is a Double Death Benefit Plan if the life insured survives till the end of the policy term. LIC Jeevan Anand Policy is whole life risk coverage even after maturity and full payout at maturity(Basic Sum Assured+ Bonus). Death Benefit: In case of death of the Life Insured, During the Policy Term: Nominee will get the Sum Assured+ accrued Simple Reversionary Bonus+ Final Additional Bonus and policy Will close. After the Policy Term: Only the Basic Sum Assured is paid and Policy will close.


Maturity Benefit: If Policy holder Survive till the end of Term, he will get basic Sum Assured+ accrued Simple Reversion Bonus+ Final Additional Bonus as LIC New Jeevan Anand maturity amount and the policy will continues rest of his life.


Income Tax Benefit: Income Tax Benefits are available on Paid Life Insurance Premium and Maturity Benefit will also be tax free. Loan facility: Loan facilities are available under LIC New Jeevan Anand Policy


Risk coverage: Risk coverage will be provided till the end of term policy.


Locking Period: If you are not satisfied with this policy you may return the policy within 15 days from date of receipt of the policy. After 15 days you are not eligible for cancelling the policy upto 3 years.


Riders: Riders are available under this LIC Jeevan Anand policy. Availability of Accidental Death and Disability Benefit rider.


House Loan Surety: House loan surety is available under this LIC New Jeevan Anand policy.


Suicide clause: If the policy holder commits suicide for any of the reasons within 12 months of date of commencement of risk or from date of revival, then 80% of premium for what he had paid will be returned to his assignees or nominees


Date of Commencement of Risk: In case of children whose age is less than 8 years risk commencement starts either from 2 years of taking the policy or from achieving 8 years old which is earlier.


Income Tax Reduction: Available for premiums paid and for Maturity returns.


Policy Revival: If the premium is not paid by you within the grace period then the policy will lapse. If you are interested to continue this policy then you can revive your policy on or before 2 years from date of first Unpaid premium.


Proposal Forms: Proposal Form no. 300 or 340 will be used under this LIC Jeevan Anand policy.


Service Tax: 3.09% service tax is applicable. For more Information refer https://taxqueries.in


Cooling Off Period: If you are not satisfied with this policy term you may return the policy within 15 days from the date of receipt of the policy.


Backdating interest: The policy can be backdated within the same financial year.


Assignments/Nominations: Assignees and nominees are possible under this LIC New Jeevan Anand plan.


Paid up value: Basic Sum Assured x(number of premiums paid / number of premiums payable).


Surrender Value: This policy can be surrendered at any time. However, if you surrender it before completion of three years, you will not get any sum in return. On surrendering after three policy years, the insurance company will pay a guaranteed surrender value equal to 30% of all premiums paid after deducting the first year’s premium.


Policy Stamping: Under, LIC New Jeevan Anand policy stamping charges will be 20 paise per thousand sum assured.


Sum Assured on Death: It means 125% of Basic sum assured or 10 times Annual Premium whichever is higher that amount will be paid to nominee.Death benefit paid should be more than 105% of total premiums paid as on the date of death.


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