As such there are number of plans and schemes offered by several companies but LIC LifePlus non term plan is below all. Non term plans offered by the LIC includes retirement and investment plans. New Jeevan Anand, Jeevan Akshay – VI, New Endowment, Single Premium Endowment, New Bima Bachat, Jeevan Arogya, New Money Back(20), New Money Back(25) are some of the plans that provide the customers with different sets of pension options to make them feel independent when they are not in a condition to earn for themselves. Some Of Our Products are...
NEW JEEVAN ANAND
LIC's New Jeevan Anand Plan is a participating non-linked plan which offers an attractive combination of protection and savings. This combination provides financial protection against death throughout the lifetime of the policyholder with the provision of payment of lumpsum at the end of the selected policy term in case of his/her survival. This plan also takes care of liquidity needs through its loan facility.
Premiums are payable yearly, half-yearly, quarterly, monthly or through salary deductions as opted by you throughout the selected term of the policy or till earlier death.
Death Benefit :
Provided all due premiums have been paid, the following death benefit shall be paid:On Death during the policy term: Death benefit, defined as sum of “Sum Assured on Death” and vested Simple Reversionary Bonuses and Final Additional bonus, if any, shall be payable. Where, “Sum Assured on Death” is defined as 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.
The premiums mentioned above exclude service tax, extra premium and rider premiums, if any.
· On death of policyholder at any time after policy term: Basic Sum Assured
Benefits payable at the end of Policy Term: 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.
Participation in Profits : The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation during policy term provided the policy is in full force.
Final (Additional) Bonus may also be declared under the plan in the year when the policy results into death claim during the policy term or due for the survival benefit payment provided the policy is in full force and has run for certain minimum term.