Dear Readers,
There are many Insurance service providers in India and are regulated by IRDA India.
A best insurance plan which everyone should have is 815 - New Jeevan Anand
Before taking any investment with insurance you should at least give thought on below.
What is the amount you can offer for the product(Insurance).
When do you require of money back to you, if no risk arises.
How much your nominee require, if risk arises.
What is purpose of your investment here(to protect against risk OR to save money OR to treat it as Investment).
What is your current age, what is the earning tenure you best judge.
LIC New Jeevan Anand(815)
Jeevan Anand is one of the most sold endowment plans of LIC, which provides Risk Cover even after maturity up to 100 years of age. LIC has launched New jeevan Anand(Plan No: 815) with new features. This plan also provides double accidental benefit in case of accidental death up to 70 years of age.
Key Features
Guaranteed returns plan with bonus facility
Life cover continues till death of the policyholder
Option to add Accidental Death and Disability Benefit Rider
Rebate offered if policyholder opts for high sum assured
Benefits
Death Benefit
Sum Assured on Death+ vested Simple Reversionary Bonuses+ Final Additional bonus(if any) shall be paid to the nominee
Where, Sum Assured on Death= Higher of 125% of Basic Sum Assured or 10 times of annualized premium.
This death benefit shall not be less than 105% of all the premiums paid as on date of death.
Maturity Benefit
Sum Assured on Death+ vested Simple Reversionary Bonuses+ Final Additional bonus(if any) shall be payable
Tax Benefits
Tax Benefits on Premiums: Yes, under section 80C
Tax Benefits on Death Benefit: Yes, under section 10(10D)
Tax Benefits on Maturity Amount: Yes, under section 10(10D)
To Illustrate the benefits of New Jeevan Anand, Lets take an example of a person who is purchasing New Jeevan Anand Plan with following details.
Sum Assured: Rs. 5, 00, 000
Policy Term: 21 Years
Policy Purchase Year: 2016
Age: 26 Years
Yearly Premium: Rs. 27454
Maturity Details
If policy holder survives the policy term( i.e. 21 years), Maturity will be as under.
Maturity Year 2037
Age at Maturity 47
Maturity Amount(approx) 1102000
After Normal Risk Cover continues even after maturity.
Post your questions any here. I’ll try to resolve to the extent I can.