For Quick Alerts
For Daily Alerts

Jeevan Anurag: A good plan to cover a child's education

Jeevan Anurag: A good plan to cover a child's education
The paramount worry of parents has always been to meet the educational needs of their children. LIC's Jeevan Anurag is a good profits plan that can fulfill the objective.

It is a with profits plan specifically designed to take care of the educational needs of children. The plan can be taken by a parent on his or her own life. Benefits under the plan are payable at pre-specified durations irrespective of whether the Life Assured survives to the end of the policy term or dies during the term of the policy. In addition, this plan also provides for an immediate payment of Basic Sum Assured amount on death of the Life Assured during the term of the policy.

Assured Benefit

Payment of 20 per cent of the Basic Sum Assured at the start of every year during last 3 policy years before maturity. At maturity, 40 per cent of the Basic Sum Assured along with reversionary bonuses declared from time to time on full Sum Assured for the full term and the Terminal bonus, if any shall be payable. For example, if term of the policy is 20 years, 20 per cent of the Sum assured will be payable at the end of the 17th,18th, 19th year and 40% of the Sum Assured along with the reversionary bonuses and the terminal bonus, if any, at the end of the 20th year.

Death Benefit

Payment of an amount equal to Sum Assured under the basic plan immediately on the death of the life assured.

Read more about: lic lic jeevan anurag
Story first published: Friday, April 19, 2013, 11:07 [IST]
Company Search
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more