LIC

This is a limited payment endowment policy with bonus facility. Premium needs to be paid for a maximum of 5 years in this plan but cover continues till the end of the policy. The first year premium is noticeably higher than subsequent years premium.

In this plan the Sum Assured + accured bonus would be paid as Death benefit if the life insured dies with in the polcy tenure. But if he lives till the policy maturity, then all the premiums paid till date along with accured bonus. What Insured receives: Insured receives the Sum Assured with Bonus as maturity would be paid as maturity benefit.

This is a savings plan and best suits people who do not wish to pay premium for long, especially people who have high earning for a short span of time. This is a Front Loaded plan having higher premium at initial years than the subsequent years premium so that it makes it easier for people to be able to pay for 3 or 5 tear as choosen

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  Key features of LIC Jeevan Amrit Plan

  1) This is an Endowment plan with guaranteed returns.

  2) Sum Assured + Accured Bonus paid as Death Benefit.

  3) The premium paid till date along with accured bonus is paid as Maturity Benefit.

  4) Premium needs to be paid only for 3 to 5 years in this plan.

  5) The first year premium is much higher than the subequent years premium.

  6) There is a large Sum Assured rebate available under this plan.

• Benefits by LIC Jeevan Amrit Plan

    Death Benefit: In case of death of Life Insured, the nominee receives Sum Assured+ Simple Reversionary Bonus+   Final  Additional bonus.

    Maturity Benefits:  At the maturity of policy, insured will get total Premiums paid till date + Simple Reversionary Bonus+ Final Additional bonus.

  • Income Tax Benefits:  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).

  Eligibility Conditions for LIC Jeevan Anand Plan

  
  

  	Minimum	Maximum
  Sum Assured (in Rs.)	1,00,000	No Limit
  Policy Term (in years)	10	30
  Premium Payment Term (in years)	3	5
  Entry Age of Policyholder	12	60
  Age at Maturity	-	70
  Single Premium (in Rs.)	NA	NA
  Payment modes	Yearly and Half-Yearly

   

   

  Additional Features & Benefits of LIC Jeevan Anurag Plan

    There are no additional riders available