LIC New Jeevan Anand, a guaranteed return endowment plan from LIC comes with bonus facility. On maturity, the policyholder will get Basic Sum Assured plus vested Simple Reversionary Bonus plus Final Addition Bonus.
Plan No Table No: 815
Type of Returns Guaranteed
Bonus Yes
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
LIC-New-Jeevan-Anand-Cover
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 annualised 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 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)
Eligibility Conditions
Minimum Maximum
Sum Assured 1,00,000 No Limit
Policy Term (in years) 15 35
Premium Payment Term (in years Equal to policy term Equal to policy term
Entry Age of Policyholder 18 50
Age at Maturity -75
Payment modes Yearly, Half-yearly, Quarterly or Monthly (ECS only)
