LIC’S NEW JEEVAN ANAND (UIN: 512N279V02)

(A Non-Linked, Participating, Individual, Life Assurance Savings Plan)

Introduction: LIC’s New Jeevan Anand Plan is a Non-linked, Participating, Individual, Life Assurance plan which offers an attractive combination of protection and savings. This combination provides financial protection against death throughout the lifetime of the policyholder with the provision of payment of lump sum at the end of the selected policy term in case of his/her survival. This plan also takes care of liquidity needs through its loan facility.

1. Benefits: 

A. Death Benefit: Provided all due premiums have been paid, the following death benefit shall be paid: • On Death during the policy term i.e. before the stipulated Date of Maturity: Death benefit, equal to “Sum Assured on Death” along with vested Simple Diversionary Bonuses and Final Additional bonus, if any, shall be payable; where, “Sum Assured on Death” is defined as higher of 125% of Basic Sum Assured or 7 times of annualized premium. This death benefit shall not be less than 105% of total premiums paid upto date of death. The premiums mentioned above exclude taxes, extra premium and rider premium(s), if any. • On death after expiry of the policy term i.e. from the stipulated Date of Maturity: Basic Sum Assured shall be payable. 

B. Benefits payable at the end of Policy Term (i.e. On Maturity): On Life Assured surviving to the stipulated Date of Maturity, provided the policy is in-force, “Sum Assured on Maturity” along with vested Simple Diversionary Bonuses and Final Additional Bonus, if any, shall be payable; where “Sum Assured on Maturity” is equal to Basic Sum Assured. 

C. Participation in Profits: The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Diversionary Bonuses declared as per the experience of the Corporation during policy term provided the policy is in- force. Final (Additional) Bonus may also be declared under the policy in the year when the policy results into claim by death during the policy term or due for the maturity benefit provided the policy is in full force.Final Additional Bonus shall not be payable under paid-up policies.