Lic's New Jeevan Anand Plan No 815

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LIC’s NEW

JEEVAN ANAND
Plan No. 815


PLAN


LIC’s New Jeevan Anand Plan– Benefits

Jeevan Anand
Plan No. 149

New Jeevan Anand
Plan No. 815

Maturity Benefit

Maturity Benefit

Basic Sum Assured along with

Basic Sum Assured along with

Vested Simple Reversionary Bonuses

Vested Simple Reversionary Bonuses

and

and

Final Additional Bonus, if Any.

Final Additional Bonus, if Any

Death Benefit
During the policy term

Modification‘Sum Assured
on Death'
instead of BSA

Death Benefit
During the policy term

Basic Sum Assured(BSA) along

‘Sum Assured on Death’ along

with Vested Simple Reversionary

with Vested Simple Reversionary

Bonuses and

Bonuses and

Final Additional Bonus, if any.

Final Additional Bonus, if any.

After expiry of policy term

After expiry of policy term

Basic Sum Assured

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

Age at
Maturity

Maximum 75 years

Maximum 75 Years

Policy Term

5 to 57 years

15 to 35 years

Premium
mode

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

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

Basic Sum
Assured

100000 and above

100000 and above
( In multiples of 5000)


Maximu
m Age at
entry
reduced.

Policy
term
modified


LIC’s New Jeevan Anand Plan– Rebates
Rebate

Mode

Rate
modified

Plan 149

Plan No. 815

Yearly

3% of tabular Premium

2% of tabular premium

Half-yearly

1.5% of tabular premium

1% of tabular premium

Quarterly

Nil

Nil
Slab & Rate
modified

Plan No 149
Jeevan Anand

Plan No. 815
New Jeevan Anand

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 2,95,000

Nil

1,00,000 to 1,95,000

Nil



LIC’s New Jeevan Anand Plan– Loan
Jeevan Anand
Plan No. 149

New Jeevan Anand
Plan No.815

Available after payment of 3 full


years premiums.

years premiums.

Loan granted shall be 90% of the

The maximum amount of loan that

Surrender Value in case of inforce

can be granted as a percentage of

policies and 85% of the Surrender

Surrender Value shall depend on the

Value in case of Paid-up policies

Policy Term, as given in the table

irrespective of the policy term.

below.

Foreclosure action was initiated on

Foreclosure action shall not be taken

default of 2 or more half-yearly loan

under fully paid-up and inforce

interest installments.

policies even if there is a default of
loan interest.

Policy Term

Upto 23

24 to 27

28 to 31

32 to 35

% for inforce policies

90%

80%

70%

60%

% for Paid-up policies

80%

70%

60%

50%


% of loan
modified


LIC’s New Jeevan Anand Plan– Surrender Value
Plan No.149

Plan No. 815

Guaranteed Surrender Value (GSV)

Guaranteed Surrender Value (GSV)

years premiums.

years premiums.

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 total premiums paid
Policy Year ~ GSV factor
3 = 30%
5 = 50%
t -1 = 80% (t=Policy Term)

GSV %
modified

Cash Value of vested bonuses, if any.
Bonus
Payable
modified

No
Change

GSV factor applicable to vested
bonus,if any. Examples of Vested
bonus factors –
Year of SV – Policy Term – Factor
3
15
17.66%
19
25
20.85%
29
30
30%



LIC’s New Jeevan Anand Plan– Surrender Value
No change in SSV
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 payable

The 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 Anand
Plan No. 149

New Jeevan Anand
Plan No. 815

A Policy may be revived
within a period of 5 years from
the date of first unpaid
premium.

A Policy may be revived
within a period of 2 years from
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 Items
Back Dating
Grace Period

Paid-up Value
Assignment/Nomination



THANK YOU…


Lic's New Jeevan Anand Plan No 815

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