Phone: +91-919550664449

New Janaraksha Plan Summary: (Table No.91)

New Janaraksha Plan is an Endowment Assurance plan that provides financial protection against death throughout the term of plan. It provides full life insurance for 3 years even when the premiums are not paid. New Janaraksha Plan (with Profits) is specially designed for people with irregular income and whose job is not secure due to fluctuating income, i.e. Workers with unorganized sector, Daily wage earners, Call Center Employees, Farmers, Small businessman etc. Bonuses: New Janaraksha Plan is a with-profit plan and it participates in the profits of the LICs life insurance business. You will get a share of the profit in the form of bonuses. Simple Revisionary Bonuses are declared per thousand Sum Assured annually at the end of each financial year. The Bonuses Once declared, they form part of the guaranteed benefits of the plan. Final (Additional) Bonus may also be payable provided a policy has run for certain minimum period. Death Benefit: The Sum Assured plus all bonuses to date is payable in a lump sum upon the death of the life assured during the policy term. Accident Benefit: The Sum Assured (subject to a limit of Rs.5 lakhs) is payable in a lump sum on accidental death of the life assured during the policy term. In case of permanent disability of the life assured due to accident during the policy term, this benefit is payable in installments. Maturity Benefit: The Sum Assured plus all bonuses declared up to maturity date is payable in a lump sum on survival to the end of the policy term. Tax Benefit: The Premiums are exempt u/s 80C. Maturity/Death Claim is exempt u/s 10(10D) Premiums: You may pay premiums yearly, half-yearly, quarterly, monthly or through Salary deductions, throughout the term of the policy or earlier death. After at least two full years premiums have been paid, full insurance cover is available even when premiums are not paid for up to three years.

Phone: +91-919550664449
Eligibility Conditions and Restrictions for New Janaraksha Plan: Minimum age at entry Maximum age at entry Max. Age at Maturity Min. Term Max. Term Min. SA S.A. in multiples Max. Sum Assured Policy/ Housing Loan Available Mode Rebate available premium. S.A. Rebate available : 18 years (Last Birthday) : 50 years (Nearest) : 70 years : 12 years : 30 years : 30,000 : 5000 : 10, 00,000 : Yes : Yly 3% on tabular premium. Hly 1.5% on tabular : 50000 & above Rs 2 per thousand

Cooling off period: If you are not satisfied with the Terms and Conditions of the policy, you may return the policy to Life Insurance Corporation Of India within 15 days. Surrender Value: Buying a life insurance contract is a long-term commitment. However, surrender value will be available under the plan on earlier termination of the contract.

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