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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).
Mode Rebate
Yearly 2% of tabular premium
Half-Yearly 1% of tabular premium
Quaterly Nil
Basic Sumassured Rebate
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%

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Documents Required

  • Proposal Form No 300
  • 1 Passport size Photograph(Proposor)
  • Your ID Proof (Passport, DL, PAN, Voter ID)
  • Your Age Proof (Passport, School Certificate, DL, PAN, Voter ID)
  • Address Proof

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