LIC New Jeevan Anand - A quick review

By Ambari Datta Gupta
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    LIC New Jeevan Anand - A quick review
    LIC New Jeevan Anand (UIN: 512N279V01) is an endowment as well as a life policy. Moreover, the plan pays you high bonus and you do not have to pay a high premium for it.

    Sum assured: Minimum limit for sum assured is Rs. 1 lakh and there is no maximum limit.

    Policy Term: The minimum term is 5 years and the maximum term is 57 years.

    Entry Age: The minimum entry age of the policy holder should be 18 years and the maximum age limit is 65 years.

    Premium payment mode: Premium can be paid quarterly, monthly, half yearly or yearly.

    Maturity Benefits: on maturity, basic sum assured along with vested simple revisionary bonus and final additional bonus is paid to the policy holder.

    Death Benefits: On the death of the policy holder, basic sum assured is paid. If the policy holder dies before the maturity of the plan, then the sum assured as well as the bonus is paid to the nominee.

    Rider benefits: Accidental Death benefit is available during the policy term, accident benefit sum assured will be paid along with death benefit under the basic plan. Disability benefits is paid till 70 years of age of the policy holder.

    Income Tax Benefit: Premium paid in this policy is tax exempted under section 80C. The maturity benefits are also exempted from tax under section 10(10D).

    Liquidity Benefit: Policy holder can take loan under this policy.

    Conclusion

    LIC New Jeevan Anand a good plan that combines protection with savings. Other benefits like tax benefits, loan facility and rider benefits make the policy more attractive.

    GoodReturns.in

    Read more about: lic income tax maturity
    Story first published: Tuesday, August 5, 2014, 15:23 [IST]
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