Simple Reversionary Bonuses,Sum Assured on Death + Accrued Bonuses,Maturity BonusPayable to the policyholder.
LIC Jeevan Lakshya is a limited premium paying conventional plan which is non-linked and classified as a With-Profits Endowment Assurance plan.
This plan takes care of liquidity needs through its loan facility.Plan provides financial support for the family in case of unfortunate death
LIC Jeevan Anand Policy is a mixture of Endowment Assurance and Whole Life plans. The best part of the policy is that it provides financial protection against death of the life assured throughout the lifetime with the provision of payment of a lump sum at the end of the selected term in case of the survival of the policy holder.
Benefits payable at the end of Policy Term:
Participation in Profits : The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation during policy term provided the policy is in full force. Final (Additional) Bonus may also be declared under the plan in the year when the policy results into death claim during the policy term or due for the survival benefit payment provided the policy is in full force and has run for certain minimum term.
Death benefit : Provided all due premiums have been paid, the following death benefit shall be paid: On Death during the policy term: Death benefit, defined as sum of Sum Assured on Death and vested Simple Reversionary 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 10 times of annualised premium. This death benefit shall not be less than 105% of all the premiums paid as on date of death.
LIC Jeevan Anand Policy is a mixture of Endowment Assurance and Whole Life plans. The best part of the policy is that it provides financial protection against death of the life assured throughout the lifetime with the provision of payment of a lump sum at the end of the selected term in case of the survival of the policy holder.
LIC’s Jeevan Lakshya is a participating non-linked plan which offers a combination of protection and savings. This plan provides for Annual Income benefit that may help to fulfill the needs of the family, primarily for the benefit of children, in case of unfortunate death of Policyholder any time before maturity and a lump sum amount at the time of maturity irrespective of survival of the Policyholder. This plan also takes care of liquidity needs through its loan facility.
a) Maturity Benefit – If the policyholder survives till the maturity period, then the policyholder will get, Sum Assured on Maturity + vested Simple Reversionary Bonuses + Final Additional Bonus provided all the premiums have been paid and the policy is active. Where Sum Assured on Maturity is equal to Basic Sum Assured.
b) Death Benefit – If the policyholder dies before the maturity period, then the nominee of the policyholder will get “Sum Assured on Death” + vested Simple Reversionary Bonuses + Final Additional Bonus, provided all the due premiums have been paid and the policy is active.
c) Rider Benefit – The policyholder has the option of availing the following Rider benefit(s) on paying an additional premium. Rider Sum Assured cannot exceed the Basic Sum Assured.
LIC Jeevan Labh Plan is new launch from LIC of India in 2016. LIC Jeevan Labh Plan Table 836 is limited payment with profit Endowment Plan. LIC Jeevan Labh will be launched on 4th January, 2016.
LIC is a family of more than 20 Crore people. We are working on providing the best Insurance products and services due to which people are having trust on us. We are in the market since 1956 and continuously providing the financial risk-free life to all people. We are proud on our offerings and the trust of people on us is the main factor of pushing ourselves to provide the best Insurance products and services.
Benifits of Jeevan Anand Plan
Benefits payable at the end of Policy Term:
Participation in Profits : The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation during policy term provided the policy is in full force. Final (Additional) Bonus may also be declared under the plan in the year when the policy results into death claim during the policy term or due for the survival benefit payment provided the policy is in full force and has run for certain minimum term.
Death benefit : Provided all due premiums have been paid, the following death benefit shall be paid: On Death during the policy term: Death benefit, defined as sum of Sum Assured on Death and vested Simple Reversionary 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 10 times of annualised premium. This death benefit shall not be less than 105% of all the premiums paid as on date of death.