LIC New Plans List

Best Available LIC Policies for Individuals:
As individuals it is inherent to differ. Each individual's insurance needs and requirements are different from that of the others. LIC's Insurance Plans are policies that talk to you individually and give you the most suitable options that can fit your requirement. you can compare lic plans too.


LIC's Endowment Plans:

>> Single Premium Endowment Plan (Plan No 817)
>> New Endowment Plan (Plan No 814)
>> New Jeevan Anand Plan (Plan No 815)

LIC's Money Back Plans:

>> New Money Back Plan -20 years (Plan No 820) 
>> New Money Back Pllan -25 years (Plan No 821)
>> New Bima Bachat (Table No 816)

LIC's Term Plans:
>> LIC's Anmol Jeevan ii - Term Plan Table no 822
>> LIC's Amulya Jeevan ii - Term Plan Table no 823

Jeevan Anand

Jeevan Anand - Table No. 149 {Zindagi Ke Saath Bhi, Zindagi Ke Baad Bhi

Jeevan Anand:

This plan is a combination of Endowment Assurance and WholeLife plans. It provides financial protection against death throughout the lifetime of the life assured with the provision of payment of a lump sum at

the end of the selected term in case of his survival. The speciality of this plan is Moderate Premiums, High Bonus, High Liquidity, Savings oriented.

Product Highlight:

• Double benefits - Double Maturity
• The premiums need to be paid for maximum of 75 Years.
• The minimum age at entry is 18 years, while the maximum age is 65 years.
• The minimum sum assured is Rs. 1 lakh while there is no maximum limit.
• The minimum term is 5 years while the maximum term is 57 years.
• The premium can be paid on a Quaterly, Half-yearly or yearly basis.
• This is a "with profits" plan which pays reversionary non-guranteed bonuses at the end of every financial year.
• Final (Additional) Bonus may also be payable provided the policy has run for certain minimum period.
• Tax benifits under section 88 for the premium paid+the maturity/death proceeds received are Tax Free.
• No private company is having such type of plan.

 Benefits:

Maturity Benefit:

When the policyholder survives till date of maturity and policy is in force the benefits payable are

 Full Sum Assured+Vested Bonuses+Final Additional Bonus.

 Risk cover continues after maturity without need to pay premium upto 100 years.

  

Death Benefit:

 If death occurs during the premium paying term Sum Assured+Bonus+FAB, if any is payable and premium

 payment is ceased. An extra amount equal to the S.A is payable if death occurs after the premium paying

 term.

Accident Benefit:

 An additional Sum Assured (subject to a limit of Rs.5 lakh) is payable in a lump sum on death due to

 accident up to age 70 of life assured. In case of permanent disability of the life assured due to

 accident this additional Sum assured is payable in instalments.

  

Extra Benefits:

 These are the optional benefits that can be added to your basic plan for extra protection/option. An

 additional premium is required to be paid for these benefits.

  

Surrender Value:

 Buying a life insurance contract is a long-term commitment. However,surrender values are available on

 the plan on earlier termination of the contract.

  

Example: Mr.Rakesh 25 years, opts for Jeevan Anand for 20 years with S.A of Rs. 1 Lac. He has to pay

 annual premium of Rs. 5490/- On maturity, Mr. Rakesh will get Rs.1,98,000+FAB if any. Even after the

 premium Term is over, risk cover continues till the death of Mr. Rakesh.

 But if, Mr. Rakesh dies at the age of 70 years his nominee will get an additional amount equal to the Sum

 Assured i.e Rs. 1 Lac.