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LIC Jeevan Anand - New Jana Raksha Plan
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Posted On :
Jan-13-2012
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Article Word Count :
542
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Life insurance provides an inventive plan which is Jeevan Anand that combines the advantages of an Endowment plan and a Whole Life plan. This plan is applicable for all ages and social groups.
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Life insurance provides an inventive plan which is Jeevan Anand that combines the advantages of an Endowment plan and a Whole Life plan. In this plan you can give premiums for a limited period of time. After the premium term is completed then the Sum Assured plus with accumulated bonuses along-with some final bonus will be payable to the policyholder. Under this plan premium are payable yearly, half-yearly, quarterly, monthly or through salary deductions as chosen by you throughout the selected term of the policy or till earlier death. After the maturity of this policy the coverage on your life continues for your lifetime to the amount of the sum assured without any further premiums.
Features of Jeevan Anand Plan:
1. Jeevan Anand plan offer Simple Reversionary Bonuses which are declared per thousand Sum Assured annually at the end of each financial year. Once declared, they form part of the guaranteed benefits of the plan.
2. Bonuses will be added during the selected term or till death, if it occurs earlier. Final Bonus may also be payable provided the policy has run for certain minimum period.
3. Jeevan Anand plan provide sum assured along with vested bonuses that will be payable in a lump sum on death during the survival at the end of the term.
4. This policy offers moderate premiums, high or large bonus, high liquidity and is saving oriented.
New Janaraksha plan is chiefly designed for workers who have unorganized work sector like the persons which work on daily wages, farmers and persons who are running small business firms. Under this plan premium are payable yearly, half-yearly, quarterly, monthly or through Salary deductions, as opted by you, throughout the term of the policy or earlier death.
Benefits of Jeevan New Janaraksha Plan:
Death Benefit: In case of death Sum Assured plus some vested bonuses will be allocated in a lump sum.
Accident Benefit: An amount limited to up to Rs. 5 lakh will be allocated in a lump sum if death occurs due to an accident and is restricted for age of 70 years.
Supplementary or Extra Benefit: These optional benefits are added to your basic plan and an additional premium is needed to be paid for these benefits.
Surrender Value: On early termination of the LIC contract surrender values are payable. These values will be greater of the guaranteed surrender value and special surrender. The plan also allows for partial surrenders.
Guaranteed Surrender Value: If the policy has been in force for at least three full years then the policy can be surrendered. The Guaranteed Surrender value will be equal to 30% of the total amount of premiums paid eliminating the premiums for the first year and all the extra premiums and premiums for an accident benefit / term rider.
Jeevan Anand plan is applicable for all ages and social groups. Jeevan Anand provides financial protection against death during the life time of the life assured. Jeevan Anand policy offers tax savings as per income tax rule are applicable. This policy also offers some supplementary benefits which can append to your basic plan.
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Article Source :
http://www.articleseen.com/Article_LIC Jeevan Anand - New Jana Raksha Plan _133591.aspx
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Author Resource :
This article is about lic new jana raksha plan and benifits of jeevan anand .
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Keywords :
lic new jana raksha plan, benifits of jeevan anand ,
Category :
Finance
:
Insurance
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