LIC New Jeevan Anand Plan 2025 Benefits, Features, Details, Reviews

LIC’s New Jeevan Anand is a partaking blessing confirmation plan which makes a corpus for your monetary necessities.

You should be aware of the following important aspects of LIC’s New Jeevan Anand policy:

• Jeevan Anand is eligible for straightforward reversionary bonuses throughout the duration of the policy because it is a participating plan.
• In addition, you may receive a final additional bonus upon maturity or death.
• You may also select an optional rider benefit for a broader range of coverage.
• premiums are paid throughout the policy’s term.
• You receive premium discounts, which lower your premium rate.
• Loans are available under the plan, providing liquidity in the event that you require funds.

The following are the benefits of the LIC New Jeevan Anand policy:

Bonus

A portion of the profits made by LIC during a specific fiscal year are given to the plan. These reversionary bonuses are included in the policy’s guaranteed amount when LIC announces a bonus. Also used to pay out a final reward is the development

Rider

The LIC New Jeevan Anand policy includes the Accidental Death and Disability Benefit Rider. This rider provides protection against accidental fatalities and injuries. A rider sum assured is also paid in the event of an unintended death of the insured, in addition to the death benefit. However, the rider sum guaranteed is paid in monthly instalments for 10 years if the insured becomes disabled as a result of an accident, and the following premiums are also waived.

Premium discounts

The insurance coverage provides two different sorts of premium discounts. For the annual premium and the half-yearly premium, the discount is 2% and 1%, respectively. Higher levels of coverage can be chosen to receive the second discount. The total guaranteed that you choose will determine the markdown rates for this class. The key ones are as follows:

You can find here sample premium costs for buying the LIC New Jeevan Anand Plan at various ages and for different policy terms. The sum assured is assumed to be INR 5 lakhs, and the premiums are assumed to be paid annually.

Paid-up value

The agreement gains a settled up value if you have paid the costs for the majority of the first three years of the plan. If future premiums were waived, plan benefits would not be denied to you. In that scenario, the policy would continue at a lower paid-up value. The decreased sum assured would be calculated using the formula below: Paid-up sum assured is equal to sum assured minus the number of premiums paid.

Surrender value

By giving up the plan, you can get the surrender value if the policy has a paid-up value. You can use the surrender value to get rid of the coverage. The surrender value will be the higher of the special surrender value or the guaranteed surrender value. The sum of all fees paid and rewards received would be used to calculate the reliable acquiescence value. The special surrender value, on the other hand, would be established on a periodic basis based on LIC.

Revival

Within two years of the policy’s expiration date, it is possible to reinstate an expired policy. Payment of the outstanding premiums and evidence of insurance eligibility would be required to reactivate.

Loan

The premiums for the first three years must be paid in order to get a loan. The loan’s size is determined by the plan’s acquisition of surrender value.

Suicide would not be covered by the LIC New Jeevan Anand plan in the following circumstances:

• If suicide occurred within a year of purchasing the policy, it would not be covered. 80 percent of the premiums paid would be reimbursed in this scenario. If suicide occurred within a year of revival, it would be excluded. In this scenario, the higher of the acquired surrender value or 80% of paid premiums would be reimbursed.

The LIC New Jeevan Anand policy’s premiums would be eligible for a tax-free deduction under Section 80C of the Income Tax Act. Up to a maximum of INR 1.5 lakh can be deducted from paid premiums. The benefit from the policy would also be exempt from tax when held in your hands.

Nevertheless, you can acquire any other endowment plan from it. The process of making a purchase from them online is straightforward and painless. Only personal information, such as your age, gender, income, and insurance coverage, would be required. and you would be shown a list of plans for the endowment. You can contemplate the available plans and a while later buy the best gift system for your necessities. The policy would be issued quickly, and online payment of premiums would be required.

The maturity claim can be used in the event that the plan ends by filling out and submitting a claim discharge voucher along with the following documents.

• Identity proof
• Policy bond
• Bank account details
• Death certificate
• Policy bond
• Identity proof
• Bank account details

Related Posts-

Best Insurance Plans 

1 Crore Term Insurance Plan

Term Insurance for NRI Plan