LIC New Jeevan Anand Policy:
It is an endowment + full life cover policy. It provides coverage after maturity till the death of insured.
Key Features:
- This is a whole life endowment plan.
- On survival till maturity, benefits are paid and insurance continues till the death of the insured.
- Death benefit: on death of the insured, assured sum is payable to the nominee.
- Accidental death and other riders can be added at nominal top up.
- Plan is tax exempted under 80(C) and 10(D).
Policy benefits:
- Simple Reversionary bonus as declared by LIC.
- Death Benefits as below:
- payable to the nominee. Sum assured on death is defined as higher of
- 125% of the Basic Sum Assured as per policy terms
- 10 x Annualized premium
- Minimum of 105% of total payment is payable to the nominee
- The basic sum assured is paid to the nominee.
- Maturity benefit:
- Basic sum assured amount + accrued bonus
- Accidental death and disability benefit:
- Rider can be bought with the policy at nominal top up.
- on accidental death, the nominee gets extra sum over basic sum assured.
- Tax benefit:
- Premium is exempted from tax under 80(C)
- Maturity and sum assured is exempted from tax under 10(D)
To know more about the policy and any other details regarding LIC, mail us at tinytopic@gmail.com
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