LIC New Jeevan Anand

Features of the LIC New Jeevan Ananad 715 Plan

Here are the key features of the New Jeevan Anand plan for NRIs living in the UK.

• LIC New Jeevan Anand Plan provides long-term life cover together with savings.

• Provides life insurance coverage that continues as long as the insured is alive.

• Provides a lump-sum maturity benefit on surviving to the end of the policy term.

• It allows you to choose the duration of insurance and the frequency of premium payments according to your needs.

• The Jeevan Anand insurance comes with optional rider features to enhance the coverage.

• Get an attractive discount on a high sum assured for eligible policyholders.

• Loan facility to meet unforeseen financial exigencies.

• LIC Jeevan Anand calculator is a tool to compare Jeevan Anand insurance facts and to easily analyse benefits & premiums.

Eligibility Criteria for Jeevan Anand Plan

Below are the eligibility requirements for the LIC New Jeevan Anand Plan:

It is essential to check Jeevan Anand policy details before applying to verify the insurance term and coverage suit your financial objectives.

Benefits of LIC Jeevan Anand Plan

The LIC New Jeevan Anand Plan is meant to give the benefit of financial stability and long-term value for NRIs in the UK. This endowment plan by LIC of India is an attractive alternative for those who want to sustain life insurance protection in India and build savings over a long period of time.

• Death Benefit: On death within the insurance term, the nominee will receive the Sum Assured on Death, vested bonuses and any Final Additional Bonus as declared, subject to the provisions of the policy.

• Annualised Premium: Annualised Premium shall mean the premium amount due in a year for the basic policy excluding taxes, rider premiums, underwriting additional premiums and modal loading costs for the purpose of death benefit computations.

• Total Premiums Paid: Total premiums paid under basic insurance, minus taxes and any additional premiums collected separately.

• Lifetime Protection: One of the major features of the Jeevan Anand insurance is that the life cover remains even after the policy term finishes.

• Guaranteed Maturity Benefit: If the policyholder survives the length of the policy, he/she will get the Basic Sum Assured plus applicable bonuses.

• Bonus Participation: The policy participates in the earnings of LIC and may receive a Simple Reversionary Bonus and a Final Additional Bonus, thereby boosting the total return.

• Financial Security for Family: The combination of savings, maturity benefits and lifetime protection helps to construct a strong financial safety net.

• Easy Benefit Estimation: You may check your predicted returns and coverage with a LIC Jeevan Anand calculator before buying the insurance.

Riders Benefits in LIC Jeevan Anand Policy

• Rider Benefits: The LIC New Jeevan Anand plan offers optional rider benefits. To get these advantages, the policyholder would have to pay an extra premium and increase his/her cover. Additional riders may be added, up to 2 riders subject to policy terms and restrictions.

• Accidental Death and Disability Compensation Rider: Provides a lump-sum compensation if death occurs as a result of an accident. In case of accidental incapacity, a rider benefit is given as monthly instalments for 10 years combined with remission of the qualifying future premiums.

• Accident Benefit Rider: Provides an extra lump sum amount in case of death of the life guaranteed owing to an accident during the period of the rider.

• New Term Assurance Rider: This rider is available only at the beginning of the policy and gives an extra death benefit throughout the policy term, hence strengthening the protection afforded by the Jeevan Anand insurance.

• Death Benefit in Instalments: The LIC New Jeevan Anand policy provides you with an option to select the death benefit in instalments than in lump sum if you have a family with financial liabilities in India. This option may assist in providing a regular income stream to loved ones over a selected length of time.

• Settlement Option For Maturity Benefit: The LIC New Jeevan Anand plan provides a stress-free settlement solution if you want to use your insurance benefits for your future financial objectives in India. You have the option to receive the maturity amount in instalments over a period of your choice, instead of a single payment.

Grace Period in LIC New Jeevan Anand Plan

If you are residing in the UK and administering your insurance from overseas, the LIC New Jeevan Anand plan includes a grace period for the delay in premium payment. Policyholders get a 30-day grace period for annual, half-yearly and quarterly premiums and 15 days for monthly premiums after the due date. During this time, the Jeevan Anand insurance stays valid and the life cover continues without any break. However, the insurance may expire if the premium is not paid during the grace period. Any rider premiums related to the insurance are likewise extended the same grace period.

Sample Illustration of LIC New Jeevan Anand for UK-Based Individuals

To understand how the LIC New Jeevan Anand plan works, think of a 35-year-old person in the UK who is looking for life insurance cover and savings in India.

The premium indicated is for demonstration purposes only and may change dependent on underwriting and policy circumstances. With the LIC Jeevan Anand calculator, you may receive the estimate personalised for you.

Moreover, LIC of India may announce the incentives from time to time, which may boost the total policy advantages and raise the ultimate payment.

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