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LIC Jeevan Anand Plan PPT Nitin 359
LIC Jeevan Anand Plan PPT Nitin 359
Plan Name: Jeevan Anand Insurer: Life Insurance Corporation of India Category: Traditional Plan Objective: Financial protection of family and returns on investment
Minimum Entry Age: 18 Years Maximum Entry Age: 65 Years Policy Term: Minimum-5 Maximum-75 minus Age at Entry Premium Payment Term: Regular Term Minimum Sum Assured: Rs 100,000 per annum Premium Payment Mode: Yearly, Half Yearly, Quarterly or Monthly
Maturity Benefit At the maturity of the policy, the insured will Get Sum Assured + accrued Bonus+Final Additional Bonus
Bonuses: These are added at the end of each financial year and are a percentage of Sum Assured. The percentage depends on the performance of the company.
Income Tax Benefit Premiums paid under life insurance policy are exempted from tax under Section 80 C and maturity proceeds are exempted from tax under Section 10 (10D)
What happens if ?
You stop paying the premium If you stop paying the premiums after 3 policy years, the policy acquires a Paid Up Value for a Reduced Sum Assured but the policy would be eligible for any future regular additions. You want to surrender the policy There is a Guaranteed Surrender Value after 3 policy years Guaranteed Surrender Value = 30% of all premiums paid 1st years premium There is Special Surrender Value that is available under this plan. You want a loan against your policy Loan facility is available under this policy