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LIC’s New Jeevan Anand Plan is a traditional participating saving non-linked plan which not only covers the LIC’s New Jeevan Anand Plan holder for the choosen term,
but also the risk continues after the maturity of policy till the entire life of the LIC’s New Jeevan Anand Plan holder. This plan is a combination of protection and savings.
In case of policy holder survival he will get lumpsum payment at maturity and also in second condition financial protection against death is also applicable.
The LIC’s New Jeevan Anand Plan also include’s bonus every year of the term and final additional bonus at the end of the term. Laon facility is also available in this plan.

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Step-By-Step Working Of LIC’S New Jeevan Anand ? How This Policy Works ? We Will Discuss with a case study ?

Whenever we purchase a policy what we take into consideration
1) How many years we will able to pay premiums. i e. ( maturity term ).
2) How much amount of cover we want at maturity. ie. ( Sum Assured ).

In Any How Condition LIC’S gives money to insured or policy holder.
1) First Scenario :- if policy holder death happens within term than maturity.
2) Second Scenarion :- if insured reaches his term than comes maturity
3) Third Scenario :- if policy holder reaches his term than maturity given to policy holder. Then after maturity risk cover continues till death of policy holder. Than after policy holder death -> ( SUM ASSURED ) claim will given to his nominee.

In the above discussion because of Third condition LIC’s New Jeevan Anand Plan / Policy is one of the best policy in life insurance sector.

Assume Tejas who is 30 years old buys a new jeevan anand policy with minimum sum assured Rs. 1 lakh for a 25 years.

Scenario 1 :- Tejas dies in 20th year of the policy. In such Situation, the maturity amount ie. (Sum Assured) will be paid to the policy holder with added bonus till the date of death woud be paid to the policy holder.
Every year LIC deaclare bonus as per company’s profit and loss. It may vary with respect to profit and loss beared by company in that financial year.

Scenario 2 :- Tejas survive till the end of the policy term. In this situation ( sum assured + per year bonus + final additional bonus ) will be given to tejas and the risk cover continues.
Then whenever tejas dies the basic sum assured ( 1 lakh ) claim will given to his nominee.

Now we will see with numbers on maturity :-

To,
Mr. Tejas

Age :- 30
Term :- 25 years
Death Sum Assured :- 125000
Basic Sum Assured :- 100000

1st year premium with tax 4.5% :
yearly : 4893 ( 4682 + 211 )
half yearly :- 2470 ( 2364 + 106 )
Quarterly :- 1248 ( 1194 + 54 )
Monthly ( ECS ) :- 416 ( 398 +18 )

After 1st year premium with tax 2.25% :
yearly : 4787 ( 4682 + 105 )
half yearly :- 2417 ( 2364 + 53 )
Quarterly :- 1221 ( 1194 + 27 )
Monthly ( ECS ) :- 407 ( 398 + 9 )

YLY premium/per day : 13

Approximate return at maturity time :

Sum Assured : 100000
Bonus :- 122500
Final Additional Bonus (FAB) : 33000
Total Approximate return at maturity time : 255500 + Life time rs. 100000 risk cover

Disclaimer : premium shown above is indicative and not exact, actual premium may vary according to underwriting rules applicable. maturity calculation display in app
is approximate. ( current rate of bonus ). please read sales broucher carefully before concluding a sale.

Benefits :

1. Death Benefit :
If all premiums paid have been paid, the following death benefit applicable :-

Death benefits are Sum Assured + Simple Reversionary Bonuses + Final Addition Bonus if any shall be payable . Sum assured on death is as higher of 125% of basic sum assured or 10 times of annialised premium. 

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

After policy holder death at any time after policy term :- Basic Sum Assured

A) Benefits at term end (on maturity) : Basic Sum Assured, along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable in lump sum on survival to the end of the policy term provided all due premiums have been paid.

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2. Optional Benefit :-

LIC’s Accidental Death and Disability Benefit Rider:
Policy Holder can take LIC’s Accidental Death and Disability Benefit Rider as an optional rider by giving extra payment of additional premium during the policy term.
If accidental death occurs during the policy term
Accident Benefit + Sum Assured will be payable as lumpsum (one time payment) along with the death benefit.
If accidental permanent disability arising due to accident (within 180 days from the date of accident),
an amount equal to the Accident Benefit Sum Assured will be paid in equal monthly installments spread over 10 years and future premiums for
Accident Benefit Sum Assured as well as premiums
for the portion of Basic Sum Assured which is equal to Accident Benefit Sum Assured under the policy, shall be waived.

LIC’S Premium Calculator :- Click On this Link and Calculate Your Premium :- https://ebiz.licindia.in/D2CPM/#qni/basicinfo

Key Features of LIC'S Jeevan Anand Plan / Policy

Documents required for buying the LIC New Jeevan Anand Plan

CONTACT US
Example :- If a person wants term plan he can select "TERM INSURANCE".

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AnsweredMahesh Kondawar asked 8 months ago • 
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