Jeevan Anand Plan 915

LIC New Jeevan Anand 915 – LIC of India launched a new plan on 1st February 2020, which name is LIC New Jeevan Anand Plan 915 (LIC Table No 915) is whole life plan with Guaranteed Returns and Protections because it is not market based plan. LIC New Jeevan Anand 915 is an endowment and whole life policy along with Bonus facility.

“LIC New Jeevan Anand 915″ is a Double Death Benefit Plan, if the life insured survives till the end of the policy term. LIC New Jeevan Anand policy has average premium, high bonus rate and great features. One of the main whole life features is that the nominees get the sum assured when the policyholder dies. With this feature you will get the money twice.

Key Features of  New Jeevan Anand 915

LIC New Jeevan Anand 915 is combination of Endowment and term insurance policy i.e. , Double

Benefit Endowment plan, if person lives till end of Term of the policy will be given Maturity Benefit and Risk Cover will continue till 100 years or death whichever is earlier. Death Benefit amount paid to Nominee.

Accident Benefit rider is not inbuilt in this plan. You can opt for Accident Benefit Rider and Critical Illness Rider by paying small Amount of Premium.  This is a High Bonus and High liquidity and whole life plan.

Plan Parameters

Age Limit – 18 Years to 50 Years

Policy Term - Min 15 years Max 35 Years

Sum Assured - Min Sum Assured - 1,00,000  Max Sum Assured: No Limit

Premium Paying Mode: Monthly, Quarterly, half. Yearly, Yearly

LIC Jeevan Anand Plan 915 Rebates

This plan provides discounts. Detailed Information about rebates is mention below.

Mode Rebate

Yearly – 2% on tabular premium

Half yearly – 1% on tabular Premium

Maturity and Death Benefits    

Maturity and Death Benefits provided under LIC New Jeevan Anand Plan 915

 

-          Maturity Benefit: Sum Assured + Simple Reversionary Bonus + Final Additional Bonus if Any

-          Death Benefit f the Insured person dies within the Policy Term then Nominee of the Policy will be given Death Benefit Sum Assured on Death + Simple Reversionary Bonus + Final Additional Bonus if any

Sum Assured on Death means 125% of Basic sum assured (1.25 x BSA) or 7 times Annual Premium (10 x AP) whichever is higher that amount will be paid to nominee. Death benefit paid should not be less than 105% total premiums paid up to the date of death

Date of Commencement of Risk: In case of children whose age is less than 8 years risk commencement starts either from 2 years of taking the policy or from achieving 8 years old which is earlier.

LIC new Jeevan Anand Policy 915 Additional Information

Risk Coverage: End of the Policy Term.

Locking period: 2 years.

Loan Facility: Available after 2 years.

Income Tax Benefit – Income Tax Benefits available on Paid Life Insurance Premium U/Sec 80C and Maturity Benefit will also be tax free under section 10(10)D.

Riders available: Rider Benefits are available.

Policy Revival: Policy can be revived before 5 years from date of FUP.

Suicide Clause: If insured commit suicide before 12 months he will be returned back 80% of premium what he paid.

Proposal Forms: Proposal Form no. 300 or 340 will be used under this plan.

Cooling-o" Period: If a policyholder is not satisfied with the Terms and Conditions of the policy, he/she may return the policy within 15 days from the date of receipt of the policy.

Backdating interest: The policies can be dated back within the same financial year.

Assignments/Nominations: assignment and nominations is possible under this plan.