LIC New Jeevan Anand (Plan 715) is a unique combination of endowment and whole life insurance plan offered by the Life Insurance Corporation of India (LIC). It provides both protection and savings benefits to the policyholder. Here's a brief overview of the plan:
Features:
Dual Benefits: Provides both maturity benefits and death benefits.
Maturity Benefit: Lump sum payment is provided to the policyholder at the end of the policy term if they survive the entire duration of the policy.
Death Benefit: In case of the insured's demise during the policy term, the nominee receives the death sum assured along with accrued bonuses.
Whole Life Coverage: The plan continues to provide life cover even after the policy term ends, up to a certain age specified in the policy.
Bonuses: Participates in the profits of LIC through bonuses declared by the corporation.
Eligibility:
Entry Age: Minimum entry age is 18-50 years, and the maximum entry age varies depending on the chosen policy term.
Policy Term: Policy terms range from 15 to 35 years, with premium payment terms slightly shorter than the policy term.
Premium Payment Options:
Regular Premium: Premiums are paid throughout the policy term.
Limited Premium: Premiums are paid for a shorter duration than the policy term, but coverage continues for the entire policy term.
Additional Riders:
Optional riders such as Accidental Death and Disability Benefit Rider, New Term Assurance Rider, and Critical Illness Rider can be added to enhance coverage.
LIC New Jeevan Anad Plan : (715) is a popular insurance plan that provides financial protection to the insured and their family while also offering savings benefits. It is suitable for individuals looking for a comprehensive life insurance solution that continues to provide coverage even after the policy term ends.
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