India's largest insurance provider, Life Insurance Corporation (LIC) offers to give returns to your investment and also give life cover. Talking LIC New Jeevan Anand Plan, provides protection benefit against death and rider benefit. . However, the policyholder can opt between either the LIC’s Accidental Death and Disability Benefit Rider or LIC’s Accident Benefit Rider. Therefore, a maximum of three riders can be availed under a policy, according to the LIC brochure.
Eligibility Conditions:
a) Minimum Basic Sum Assured ` 100000
b) Maximum Basic Sum Assured No Limit
(The Basic Sum Assured shall be in multiples of ` 5000/-)
c) Minimum Age at entry 18 years (completed)
d) Maximum Age at entry 50 years (nearer birthday)
e) Maximum Maturity Age 75 years (nearer birthday)
f) Minimum Policy Term 15 years
g) Maximum Policy Term 35 years
The nominee of the policyholder will receive a death benefit of up to 12% if the policyholder passes away before maturity. This policy's minimum sum assured is Rs. 1 lakh, and there is no upper limit. Moreover, coverage for Accidental Death and Disability, Accident Benefit, New Term Rider, New Term Insurance Rider, and New Critical Illness Benefit is provided under the rider benefit. It's crucial to remember that purchasing Jeevan Anand Insurance does not provide tax benefits.
With the Jeevan Anand Policy, you can receive up to Rs 25 lakh with a minimum payment assured of Rs 5 lakh. You must invest in the policy for 35 years and make payments of Rs 1,358 per month or Rs 16,300 per year to be eligible for this benefit. This amounts to a daily investment of approximately 45 rupees.
