LIC New Jeevan Anand Premium Calculator

LIC India has bagged the topmost position among the Government backed insurance companies in the country. LIC has its branches spread not only countrywide but across the globe too. This Insurance Corporation provides a wide range of insurance plans, like term plans, endowment plans, savings plans, and pension plans as the core schemes.

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LIC New Jeevan Anand Premium Plan is one such term plan that provides cover to the policyholder under the motto ‘Zindagi kesaath bhi, Zindagi kebaad bhi”. This means this will give the benefits not only during the life but also after the policyholder’s death to the nominee.

LIC New Jeevan Anand Plan

LIC New Jeevan Anand Plan is amoney protection and saving planwhich offers a scheme that not only provides assured returns during your lifetime but also provides risk cover post the account holder’s death.

There are many merits of this term plan which are stated as follows:

  • Bonus
  • Whole life cover
  • Riders
  • Flexible features 
  • Liquidity
  • Tax benefits.

  The highlighting features of the LIC New Jeevan Anand Plan are enlisted as:

  • This term plan provides assured returns that are generally in terms of a bonus.
  • The policyholder can pay the premium amount either on a monthly or yearly basis.
  • After the policyholder’s death, the nominee gets the death benefit.
  • Extra benefits are provided in situations like accidental death or disability of the policyholder.
  • Tax benefits are available under Income Tax laws.

What is the LIC New Jeevan Anand Premium Calculator?

LIC New Jeevan Anand Premium Calculator is an exquisite tool used to calculate the amount of maturity the policyholder will get after a specific period of time. This term plan also provides a detailed overview of the amount of coverage that has to be paid annually by people of different age groups. The fascinating criteria of this scheme are the bonuses which differ for various years and are grouped in two categories:

  • Latest bonus for the ongoing year
  • Future bonus for the future time.

LIC Jeevan Anand Calculator is a complete service-providing tool that highlights all the major key points to the client in a simple and easily accessible manner.

Benefits of using the LIC New Jeevan Anand Premium Calculator 

The most important and highlighted benefits offered by the LIC New Jeevan Anand Calculator are enlisted as follows:

Policy Premiums

LIC New Jeevan Anand Calculator has the key role in calculating the Policy's maturity amount. It also calculates the premium amount to be paid by the policyholder in different premium paying modes.

  1. Death Benefit

    In case the policyholder dies after availing of this Policy, then the nominee will become eligible for all the funds and assured returns of the scheme.

    The benefits received by the nominee after the policyholder’s death is enlisted as:

    • Death within the Policy Term
    • If the policyholder dies during the ongoing policy term before the maturity period then, the Death benefit to be paid is the Death Sum Assured + Bonuses( Simple reversionary bonuses and any final additional bonus)
    • Death after the Policy Term

    The nominee benefits after the policyholder’s death after the maturity of the Policy will be the highest of: 

                 125% X Basic Sum Assured, OR,

                 105% of total paid premiums, OR.

                  10 X Annualized Premium

  2. Maturity Benefit

    If the policyholder survives for the entire period he availed of the Jeevan Amar Policy, then the account holder gets the maturity amount on the maturity date. The Maturity benefit would be the sum of the Basic Sum Assured plus various bonuses, like Simple Reversionary Bonuses and any final bonuses. One can use the LIC New Jeevan Anand Maturity Calculator to find the approximate value of maturity.

  3. Bonuses

    As the Jeevan Amar Policy is a part of the profit-making Policy of the Corporation, the account holder eventually becomes eligible to share specific bonuses periodically based on the performance of the company in the market. The bonuses may be vested bonuses as well as the final bonuses. The vested bonuses will be paid on death or policy maturity. The final bonus will be shown as declared by LIC in death benefit payouts or at the policy maturity.

  4. Optional Benefit

    This calculator will also calculate any optional benefit under the plan due to riders or any add-on covers.

  5. Policy Surrender Value

    The Bank will pay any surrender value to the policyholder on the surrender of the Policy by the policyholder. It is calculated based on the Surrender Value acquired by the Policy till the date of surrender, as per prescribed conditions in the Policy. If the policy is surrendered before three years of policy commencement, the value is ZERO, and nothing will be paid.

    However, if the policyholder surrenders the policy after a period of 3 years from the policy start date, the Surrender Value will be calculated and paid accordingly.

How to use the LIC New Jeevan Anand Premium Calculator?

LIC’s New Jeevan Anand Premium Calculator comes in a tabular form where the interested investor needs to fill in particular details such as:

  • Firstly, the investor needs to type the amount of sum assured desired by them.
  • Secondly, they need to select their age from the drop-down menu.
  • Next, they need to select the policy term,

Lastly, click on the calculate button to get the results.

Information needed by the LIC New Jeevan Anand Premium Calculator

The calculator is a device designed to give results on the basis of results provided as the input. Here in LIC New Jeevan Anand Premium Calculator, the figures represent the essential information according to which the calculation of premium to be paid will take place. The basic details required are as follows:

  • Name 
  • Contact information
  • Age of the account holder
  • Selection of policy term
  • Assured Sum required
  • Requirements of the rider.

FAQ's

 

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.

**Tax benefit is subject to changes in tax laws. Standard T&C apply.

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