LIC Jeevan Anand Policy 2022 | Benefits, Features & Apply Online

LIC Jeevan Anand Policy Apply Online | LIC Jeevan Anand Policy Interest Rate | LIC Jeevan Anand Policy Calculator | LIC Jeevan Anand Policy Benefits

Life insurance policies are a great way through which you can start your investment for your retirement or for various things that you need to undertake in your future. The Life Insurance Corporation of India provides the LIC Jeevan Anand Policy, especially for the people who don’t want to invest a lot of money in life insurance policies but still want to get a proper sum assured. You can check out the details related to the LIC Jeevan Anand Policy 2022 given below and we will also share with you all the specifications of Benefits, Features & Apply Online.

Lic Jeevan Anand Policy 2022

LIC Jeevan Anand Policy is especially available for people who want to be a part of a very prestigious investment scheme and you can start your investment in this particular scheme by taking into consideration the details related to the eligibility criteria and other benefits available by the organization of the Life Insurance Corporation. You can buy the Life Insurance Corporation Jeevan Anand Policy online by checking out the documents that you need and also the eligibility criteria. Make sure to check out the minimum sum assured available inside this scheme before starting your investment.

LIC Jeevan Anand Policy

LIC Loan Interest Rate

Features Of The Scheme

The LIC Jeevan Anand Policy has the following features:-

  • This is a type of participating non linked life insurance policy
  • This policy is available for individuals only
  • The premium payment is equal to the chosen policy term.
  • The policy term is 15 years minimum and the maximum policy term is 35 years.
  • You will be provided submersed on death + reversionary bonus + final additional bonus on maturity.
  • You can pay your premium annually or half-yearly or quarterly or monthly.
  • The customers will be provided a 15 day free look period from the date of the receipt of the policy.
  • The customers will be provided a Grace period of 15 days for the monthly mode and 30 days for all of the other modes.
  • The minimum sum assured is Rupees 10000.
  • The policy will lapse if the premium is not paid and the loan can be availed only if the policy has acquired a surrender value.
  • You can revive your policy within 2 years from the date of the first unpaid premium.

LIC Jeevan Umang Policy

Benefits Of The Scheme

The following benefits will be available to the people applying for the LIC Jeevan Anand Policy:-

  • Death Benefit- The following death benefits shall be payable, providing all the due premiums have been paid:
    • In case of policyholder’s death during the policy tenure or before the set maturity date: The death benefit equivalent to the sum assured on death along with the final additional bonus and simple reversionary bonuses, shall be paid in which the SA on death is defined as the higher of
      • 125% of the Base Sum Assured as per policy terms,
      • 7 X of Annualized premium amount
  • Simple Reversionary Bonuses (SRB): The plan accumulates simple reversionary bonuses by participating in the profit of the company and the final addition bonus is declared based on the experience of the company. The simple reversionary bonus is offered to the policyholder along with the basic sum assured amount at the time of maturity of the policy or as the death benefit.
  • Maturity Benefit- In case of survival of the life assured to the set maturity date, provided the policy is active i.e., all due premium amount has been paid as SA on maturity along with final additional and simple reversionary bonus (if any) shall be payable where the SA on maturity is equivalent to the basic SA.
  • Participation in Profits- The LIC plan 149 shall participate in the company’s profits and shall be eligible to receive a Simple reversionary bonus announced as per the company’s experience during the policy tenure, provided the policy is active.
  • Tax Benefits- LIC Jeevan Anand policy offers tax benefits to the insured on the premium paid and on the claims received, Under Section 80C and 10(10D) of the Income Tax Act.
LIC Jeevan Anand Policy

LIC Saral Pension Yojana 

Eligibility Criteria

The applicant must follow the following eligibility criteria to apply for this policy:-

Minimum age at entry18 years
Maximum age at entry50 years
Minimum sum assuredRs. 10,00,000
Maximum sum assuredNo limit on the maximum basic sum assured
Minimum policy term15 years
Maximum policy term35 years
Maximum maturity age75 years

Documents Required

The following documents must be submitted to apply for the LIC Jeevan Anand Policy:-

  • Correctly filled Application form/Proposal form
  • Address Proof
  • Age Proof
  • Other KYC documents: PAN Card, Adhaar Card, Tax Details, etc.
  • Medical History
  • Medical Diagnosis Reports as required
LIC Jeevan Anand Policy

LIC Jeevan Anand Policy Riders Details

Four options for riders are available under the policy by paying an additional amount of premium. The life assured can choose between LIC’s Accident benefit rider, Accidental death and disability benefit rider, New Term Insurance or critical illness rider. You can avail yourself of a maximum of 3 three riders from the following options:-

  • Accidental Death and Disability Benefit- The LIC New Jeevan Anand plan offers additional coverage as accidental death and disability benefit rider. This rider benefit can be bought in addition to the basic coverage of the policy.  Under this rider benefit the nominee of the policy receives the extra sum assured amount on top of the basic sum assured amount in case of accidental demise of the insured person. Moreover, in case of total or permanent disability, the plan offers the benefit in equal intervals of time.
  • Accident Benefit Rider- This rider benefit can be purchased at any time under an active policy within the policy tenure of the base term plan, providing the term of premium payment and rider is 5 years. If this rider benefit is opted for, in case of accidental death, then the sum assured as the accidental benefit will be paid in a lump sum.
  • New Term Assurance Rider- This rider benefit is available at the commencement of the policy. If it is purchased for an amount equivalent to the sum assured as term assurance rider benefit shall be payable on the demise of the policyholder during the policy term.
  • Critical Illness Benefit Rider- This rider can opt on the first diagnosis of any of the mentioned 15 critical illnesses covered under the rider, then the sum assured for critical illness shall be payable.

LIC Loan Against Policy

FAQs For LIC Jeevan Anand Policy 2022

What are the tax benefits provided by the LIC’s New Jeevan Anand policy?

The tax benefits will be provided under sections 80c and 10d of the Income Tax Act.

What are the specifications related to the grace period for LIC Jeevan Anand policy?

A grace period of 30 days is allowed for the payment of due premiums. In case the insurance holder delays the premium payment, he/she is allowed a grace period of 30 days.

How can I revive my LIC Jeevan Anand policy?

The customers can revive their policy for the next 5 years by paying all of the premiums with all of the interest rates.

How can I buy the life insurance policy presented by LIC?

You need to visit your nearest LIC branch in order to buy the new Jeevan Anand policy.

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