In order to give wider choice to our Customers, we at LICL have pleasure in launching "JEEVAN ANANDA" a with Profit Assurance plan.
Basically, the plan is a combination of the whole life plan and the most popular Endowment Assurance Plan. The plan provides the pre-decided Sum Assured and Bonuses at the end of the stipulated premium paying term, but risk cover on the life continues till death. Life is full of dreams. Make these dreams come true through clear cut financial planning and a systematic savings method
Sum Assured along with all vested bonuses payable at the end of the premium paying (Endowment term )
Sum Assured along with vested bonuses payable on death during the premium paying term and policy comes to an end. An amount equal to the sum Assured is payable if death occurs after the premium paying term.
Simple Reversionary Bonus accrues during the premium paying term and is payable at the end of the premium paying term or on earlier death along with final Additional Bonus, if any. No Bonus is paid on death after the premium paying term.
The double Accident Benefit is available during the premium paying term and thereafter up to age 70. The premium is a flat Rs. 1/= per thousand sum assured p.a. The maximum Accident Cover available under this plan will be Rs. 2,000,000/= (this limit excludes accident benefit under other plans.)
Loans will be granted against the surrender value of the policy after payment of premiums for at least 3 years. Interest on such loans will be fixed by LICL from time to time.
The illustration assumes that all premiums are paid when due, Terminal Bonus may be paid for certain term and duration only, depending on future experience of LICL
Sum Assured Rebate per Rs. 1,000/= S.A.
Less than Rs. 500,000 Nil
Rs 500,000 and above Rs 2/50
The following restrictions will apply to policies under this plan
- Minimum age at entry 18 years ( Completed)
- Maximum age at entry 60 years ( age nearer birthday)
- Maximum age at the end of the premium paying term 70 years ( age nearer birthday)
- Premium Paying Term 10 years to 30 years
- Minimum Sum Assured Rs. 200,000/=