LIC's New Jeevan Anand (815) Premium, Maturity Calculator
LIC's New Jeevan Anand (815) Premium, Maturity Calculator - LIC's New Jeevan Anand Policy is a combination of endowment and whole life saver policy by LIC of India. LIC's New Jeevan Anand Policy offers ab insurance coverage for entire life of the insured person. LIC's New Jeevan Anand Policy is a complete investment plan with high bonus facility and liquidity facility. LIC's New Jeevan Anand Policy is equipped with a Double Death Benefit Plan, if life insured survives till the end of the policy term. LIC's New Jeevan Anand Policy is whole life risk coverage even after maturity and full payout at maturity (Basic Sum Assured + Bonus).
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Terms and Eligibility Conditions
Entry age:
- Minimum age – 18 years(completed)
- Maximum age – 50 years(Nearest Birthday)
Policy Term
- Minimum term – 15 years
- Maximum term – 35 years
Sum Assured:
- Minimum – Rs.1,00,000
- maximum – No limit
- Premium paying modes: Monthly (SSS, ECS), Quarterly, Half yearly, Yearly
Maximum Age of Maturity: 75 years(Nearest Birthday)
Maximum Cover Ceasing age: 70 years(Nearest Birthday)
Benefits of LIC New Jeevan Anand Policy:
- Death Benefit
- Maturity Benefit
- Income Tax Benefit
Buying Procedure:
- Application form/Proposal form along with photo
- Address proof
- Age proof
- Medical reports(if required)
Claim Procedure:
- NEFT form
- Discharge form
- Cancel check or Bank Pass book xerox
- Policy bond
- Death certificate
Additional Information:
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 New 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 New Jeevan Anand policy.
Service Tax: 3.09% service tax is applicable
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 policy.
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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