2After expiry of policy term LIC’s New Jeevan Anand Plan– BenefitsJeevan AnandPlan No. 149New Jeevan AnandPlan No. 815Maturity BenefitBasic Sum Assured along withVested Simple Reversionary Bonuses andFinal Additional Bonus, if Any.Final Additional Bonus, if AnyDeath BenefitDuring the policy termBasic Sum Assured(BSA) along with Vested Simple Reversionary Bonuses andFinal Additional Bonus, if any.After expiry of policy termBasic Sum Assured‘Sum Assured on Death’ along with Vested Simple Reversionary Bonuses andNo changeModification- ‘Sum Assured on Death' instead of BSA
3LIC’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)OR10 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]
4LIC’s New Jeevan Anand Plan– Eligibility Conditions and Restrictions ParticularsJeevan AnandPlan No. 149New Jeevan AnandPlan No. 815Age at entry18 to 65 years18 to 50 yearsAge at MaturityMaximum 75 yearsMaximum 75 YearsPolicy Term5 to 57 years15 to 35 yearsPremium modeYearly, Half-yearly, Quarterly, Monthly (SSS or ECS)Basic Sum Assuredand above( In multiples of 5000)Maximum Age at entry reduced.Policy term modified
5LIC’s New Jeevan Anand Plan– Rebates ModeRebatePlan 149Plan No. 815Yearly3% of tabular Premium2% of tabular premiumHalf-yearly1.5% of tabular premium1% of tabular premiumQuarterlyNilRate modifiedSlab & Rate modifiedPlan No 149Jeevan AnandPlan No. 815New Jeevan AnandBasic Sum AssuredRebate (Rs.)10,00,000 and above1.75‰ BSA3.00‰ BSA5,00,000 to 9,95,0001.50‰ BSA2.50‰ BSA3,00,000 to 4,95,0001.00‰ BSA2,00,000 to 4,95,0001.50‰1,00,000 to 2,95,000Nil1,00,000 to 1,95,000
6Available after payment of 3 full years premiums. LIC’s New Jeevan Anand Plan– LoanJeevan AnandPlan No. 149New Jeevan AnandPlan No.815Available after payment of 3 full years premiums.Loan granted shall be 90% of the Surrender Value in case of inforce policies and 85% of the Surrender Value in case of Paid-up policies irrespective of the policy term.The maximum amount of loan that can be granted as a percentage of Surrender Value shall depend on the Policy Term, as given in the table below.Foreclosure action was initiated on default of 2 or more half-yearly loan interest installments.Foreclosure action shall not be taken under fully paid-up and inforce policies even if there is a default of loan interest.% of loan modifiedPolicy TermUpto 2324 to 2728 to 3132 to 35% for inforce policies90%80%70%60%% for Paid-up policies50%
7LIC’s New Jeevan Anand Plan– Surrender Value Plan No.149Plan No. 815Guaranteed Surrender Value (GSV)Available after payment of 3 full 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 paidPolicy Year ~ GSV factor3 = 30%5 = 50%t -1 = 80% (t=Policy Term)Cash Value of vested bonuses, if any.GSV factor applicable to vested bonus,if any. Examples of Vested bonus factors –Year of SV – Policy Term – Factor%%%No ChangeGSV % modifiedBonus Payable modified
8LIC’s New Jeevan Anand Plan– Surrender Value No change in SSVJeevan AnandPlan No. 149New Jeevan AnanadPlan 815Special Surrender Value (SSV)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 PayableSurrender Value payableThe Higher of Guaranteed Surrender Value and Special Surrender Value shall be payable.
9Assignment/Nomination LIC’s New Jeevan Anand PlanJeevan AnandPlan No. 149New Jeevan AnandPlan No. 815A 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 ItemsBack DatingGrace PeriodPaid-up ValueAssignment/Nomination