LIC New Jeevan Anand Plan features
Eligibility Conditions and Restrictions
- Age at entry : 18 to 50 Year.
- Age at Maturity : 75 Years.
- Plan Term : 15 to 35 Years.
- Premium Mode : Yearly, Half Yearly, Quaterly, Monthly(SSS or ECS).
- Basic Sum Assured : 100000 and above (In multiples of 5000).
|Yearly||2% of tabular premium|
|Half-Yearly||1% of tabular premium|
|10,00,000 and above||3.00‰ BSA|
|5,00,000 to 9,95,000||2.5.00‰ BSA|
|2,00,000 to 4,95,000||1.5.00‰ BSA|
|1,00,000 to 1,95,000||Nil|
LIC’s New Jeevan Anand Plan– Loan♦ After payment of 3 full years premiums.
♦ The maximum amount of loan that can be granted as a percentage of Surrender Value shall depend on the Policy Term, as given in the table below.
♦ Foreclosure action shall not be taken under fully paid-up and inforce policies even if there is a default of loan interest.
|Policy Term||Upto 23||24 to 27||28 to 31||32 to 35|
|% for inforce policies||90%||80%||70%||60%|
|% for Paid-up policies||80%||70%||60%||50%|
LIC’s New Jeevan Anand Plan– Surrender Value♦ Guaranteed Surrender Value (GSV).
♦ Available after payment of 3 full years premiums.
♦ GSV shall be a percentage of total premiums paid (net of taxes) excluding extra premium, if any and premium paid for riders,if opted for. Examples of GSV factors applicable for total premiums paid Policy Year ~ GSV factor 3 = 30% 5 = 50% t -1 = 80% (t=Policy Term)
♦ GSV factor applicable to vested bonus,if any. Examples of Vested bonus factors – Year of SV – Policy Term – Factor 3 15 17.66% 19 25 20.85% 29 30 30%