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Verified Member MouthShut Verified Member
Chandanagar India
Best Insurance policy everyone MUST have ONE - 815
Jun 16, 2016 11:53 AM 39855 Views
(Updated Jun 16, 2016 12:31 PM)

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Dear Readers,


There are many Insurance service providers in India and are regulated by IRDA India.


A best insurance plan which everyone should have is 815 - New Jeevan Anand


Before taking any investment with insurance you should at least give thought on below.




  1. What is the amount you can offer for the product(Insurance).




  2. When do you require of money back to you, if no risk arises.




  3. How much your nominee require, if risk arises.




  4. What is purpose of your investment here(to protect against risk OR to save money OR to treat it as Investment).




  5. What is your current age, what is the earning tenure you best judge.






LIC New Jeevan Anand(815)


Jeevan Anand is one of the most sold endowment plans of LIC, which provides Risk Cover even after maturity up to 100 years of age. LIC has launched New jeevan Anand(Plan No: 815) with new features. This plan also provides double accidental benefit in case of accidental death up to 70 years of age.


Key Features


Guaranteed returns plan with bonus facility


Life cover continues till death of the policyholder


Option to add Accidental Death and Disability Benefit Rider


Rebate offered if policyholder opts for high sum assured


Benefits


Death Benefit


Sum Assured on Death+ vested Simple Reversionary Bonuses+ Final Additional bonus(if any) shall be paid to the nominee


Where, Sum Assured on Death= Higher of 125% of Basic Sum Assured or 10 times of annualized premium.


This death benefit shall not be less than 105% of all the premiums paid as on date of death.


Maturity Benefit


Sum Assured on Death+ vested Simple Reversionary Bonuses+ Final Additional bonus(if any) shall be payable


Tax Benefits


Tax Benefits on Premiums: Yes, under section 80C


Tax Benefits on Death Benefit: Yes, under section 10(10D)


Tax Benefits on Maturity Amount: Yes, under section 10(10D)


To Illustrate the benefits of New Jeevan Anand, Lets take an example of a person who is purchasing New Jeevan Anand Plan with following details.


Sum Assured: Rs. 5,00,000


Policy Term: 21 Years


Policy Purchase Year: 2016


Age: 26 Years


Yearly Premium: Rs. 27454


Maturity Details


If policy holder survives the policy term( i.e. 21 years), Maturity will be as under.


Maturity Year 2037


Age at Maturity  47


Maturity Amount(approx) 1102000


After Normal Risk Cover continues even after maturity.


Post your questions any here. I'll try to resolve to the extent I can.


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