Lic's New Jeevan Anand Plan No 815

’LIC s NEW JEEVAN ANAND PLANPlan No. 815

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Jeevan Anand New Jeevan Anand

LIC’s New Jeevan Anand Plan– Benefits

Plan No. 149 Plan No. 815Maturity Benefit Maturity Benefit

Basic Sum Assured along with Vested

Simple Reversionary Bonuses andFinal Additional Bonus, if Any.

Basic Sum Assured along with Vested

Simple Reversionary Bonuses andFinal Additional Bonus, if Any

Death Benefit Death BenefitModification- ‘Sum Assuredon Death'During the policy term

Basic Sum Assured(BSA) along with

Vested Simple Reversionary

Bonuses andFinal Additional Bonus, if any.

During the policy term‘Sum Assured on Death’ along

with Vested Simple Reversionary

Bonuses andFinal Additional Bonus, if any.

instead of BSA

After expiry of policy term

Basic Sum AssuredAfter expiry of policy term

Basic Sum Assured







LIC’s New Jeevan Anand Plan– Benefits

What is Sum Assured on Death?

Sum Assured on Death shall be Higher of ~

125% of Basic Sum Assured (1.25 x BSA) OR

10 times Annual Premium.(10 x AP).≈≈≈≈

The death benefit as defined above shall not be less than

105% of total premiums* paid as on the date of death . [*excluding taxes, extra premiums and premiums for riders, if any]







LIC’s New Jeevan Anand Plan–Eligibility Conditions and Restrictions

Particulars Jeevan Anand Plan No. 149

New Jeevan Anand Plan No. 815

Age at entry 18 to 65 years

18 to 50 years

Maximu m Age atentryAge at

Maturity Maximum 75 years Maximum 75 Years

Policy Term 5 to 57 years 15 to 35 years

reduced.

Policy

Premium mode

Yearly, Half-yearly, Quarterly, Monthly (SSS or ECS)

Yearly, Half-yearly,Quarterly, Monthly (SSS or ECS)

termmodified

Basic Sum Assured 100000 and above 100000 and above

( In multiples of 5000)







LIC’s New Jeevan Anand Plan– Rebates

Mode RebatePlan 149 Plan No. 815

Yearly 3% of tabular Premium 2% of tabular premium

Ratemodified

Half-yearly 1.5% of tabular premium 1% of tabular premium

Quarterly Nil Nil

Plan No 149 Jeevan Anand

Plan No. 815 New Jeevan Anand

Slab & Rate modified

Basic Sum Assured Rebate (Rs.) Basic Sum Assured Rebate (Rs.)

10,00,000 and above 1.75‰ BSA

10,00,000 and above 3.00‰ BSA

5,00,000 to 9,95,000

1.50‰ BSA

5,00,000 to 9,95,000 2.50‰ BSA

3,00,000 to 4,95,000 1.00‰ BSA

2,00,000 to 4,95,000 1.50‰1,00,000 to

2,95,000Nil 1,00,000 to

1,95,000Nil







Jeevan Anand New Jeevan Anand

LIC’s New Jeevan Anand Plan– Loan

Plan No. 149 Plan No.815Available after payment of 3 full

years premiums.Available after payment of 3 full

% of loan modified

years premiums.

Loan granted shall be 90% of the

Surrender Value in case of inforceThe maximum amount of loan that can be granted as a percentage of

policies and 85% of the Surrender

Value in case of Paid-up policies

irrespective of the policy term.

Surrender Value shall depend on the

Policy Term, as given in the table

below.

Foreclosure action was initiated on

default of 2 or more half-yearlyloan

Foreclosure action shall not be taken

under fully paid-up and inforceinterest installments. policies even if there is a default of

loan interest.24 to 27 28 to 31 32 to

3580% 70% 60%70% 60% 50%

Policy Term Upto 23% for inforce policies 90

%% for Paid-up policies 80%







New Jeevan Anand Plan– Surrender Value

Plan No.149 Plan No. 815

LIC’s

Guaranteed Surrender Value (GSV) Guaranteed Surrender Value (GSV)Available after payment of 3 full years premiums.

Available after payment of 3 full years premiums.

NoChange

GSV shall be equal to 30% of the total premiums paid less First Year Premium and extra premium, if any.

GSV shall be a percentage of total premiums paid (net of taxes) excluding extra premium, if any and premium paid for riders,if opted for. Examples of GSV factors applicable for totalpremiums paidPolicy Year ~ GSV factorGSV %

modified

Cash Value of vested bonuses, if any. GSV factor applicable to vestedbonus,if any. Examples of Vested bonus factors –Year of SV – Policy Term – Factor

Bonus Payable modified

3 = 30%5 = 50%

t -1 = 80% (t=Policy Term)

3 15 17.66%19 25 20.85%29 30 30%







No change in SSV

LIC’s New Jeevan Anand Plan– Surrender Value

Jeevan Anand Plan No. 149

New Jeevan Ananad Plan 815

Special Surrender Value (SSV) Special Surrender Value (SSV)

Surrender Value shall be the discounted value of the Paid-up Sum Assured and vested simple reversionary bonuses.

Surrender Value shall be the discounted value of the Paid-up Sum Assured and vested simple reversionary bonuses.

The discount factors shall be surrender value factors as provided in Table-1A and 2A(whole life) of the Special Surrender Value Booklet and will depend upon the policy term and duration elapsed since the commencement of the policy.

The discount factors shall be Special surrender value factors as provided in Table-1A and 2A(Whole life) of the Special Surrender Value Booklet and will depend upon the policy term and duration elapsed since the commencement of the policy.

Surrender Value Payable Surrender Value payableThe Higher of Guaranteed Surrender Value and Special Surrender Value shall be payable.

The Higher of Guaranteed Surrender Value and Special Surrender Value shall be payable.







LIC’s New Jeevan Anand Plan

Jeevan AnandPlan No. 149

New Jeevan AnandPlan No. 815

A Policy may be revived within a period of 5 years from

A Policy may be revived within a period of 2 years from

the date of first unpaid premium.

the date of first unpaid premium.

Accident Benefit inbuilt. Accident Benefit as a rider.

Taxes, if any , were borne by the corporation.

Taxes, if any, shall be applicable at the prevailing rates and borne by the policyholder as per rules.

There shall be no change in the following ItemsBack DatingGrace PeriodPaid-up Value

Assignment/Nomination









THANK YOU…





Lic's New Jeevan Anand Plan No 815

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