LIC New Jeevan Anand Plan 715

Complete Guide to LIC's New Jeevan Anand (Plan 715)

When it comes to Financial Planning in Bhadra, families often face a critical dilemma: should they invest for a lump sum return in the future, or should they buy life insurance to secure their family against life's uncertainties? What if you could have the absolute best of both worlds, not just until retirement, but for your entire life?

Welcome to LIC's New Jeevan Anand Plan (UIN: 512N279V03). Widely regarded as the Best LIC Policy in India, this plan is a Par, Non-linked, life, Individual, Savings plan. It offers an unparalleled and attractive combination of protection and savings.

As your trusted Ashuram Insurance Expert and the most reliable LIC Agent in Bhadra, we are here to decode every single feature, benefit, and hidden advantage of Plan 715. Let’s explore how this policy guarantees Family Financial Security for generations.

1. What Makes LIC’s New Jeevan Anand Unique?

The magic of this specific policy lies in its "Whole Life" coverage aspect combined with an Endowment plan structure. This combination provides financial protection against death throughout the lifetime of the policyholder. In addition to this lifetime cover, it comes with the provision of payment of a lumpsum at the end of the selected policy term in case of the policyholder's survival.

Simply put: You pay premiums for a specific term, you receive your massive maturity amount to enjoy your retirement, and yet, your life cover continues for your entire life without paying any further premiums!

2. Eligibility Conditions and Core Restrictions

Before investing in this Long Term Investment Plan, it is important to know if it fits your age and financial profile. The eligibility conditions are designed to accommodate young earners as well as middle-aged individuals:

(Note: The Basic Sum Assured shall be in multiples of Rs. 5,000 for amounts between 2,00,000 and 4,50,000; multiples of Rs. 50,000 for amounts between 4,50,000 and 9,00,000; and multiples of Rs. 1,00,000 for amounts above 9,00,000).

Risk Commencement: Risk will commence immediately on acceptance of the risk.

3. Comprehensive Benefit Breakdown

For anyone seeking reliable Life Insurance in Bhadra, understanding the exact payouts is crucial. Plan 715 offers guaranteed peace of mind through its three distinct payout phases:

4. Supercharge Your Plan with Optional Riders

To make this the ultimate protective shield, a maximum of three riders can be availed under a policy by payment of an additional premium:

• LIC's Accidental Death and Disability Benefit Rider: In case of accidental death, the Accident Benefit Sum Assured will be payable in lumpsum. In case of disability, paid in equal monthly instalments spread over 10 years.
• LIC's Accident Benefit Rider: In case of accidental death, an additional lump sum is payable. (Note: You can opt for either this or the Disability rider, not both).
• LIC's New Term Assurance Rider: An amount equal to 'Term Rider Sum Assured on Death' payable on death during the policy term.
• LIC's Critical Illness Health Rider: On diagnosis of any one of the specified critical illnesses covered, the Critical Illness Sum Assured is payable.

5. Settlement Options: Regular Income for Your Family

Modern Financial Planning in Bhadra requires flexibility. Under LIC's New Jeevan Anand, you have the option to receive the death benefit or maturity benefit in instalments over the chosen period of 5 or 10 or 15 years instead of a lump sum amount.

6. Premium Payments, Grace Period, and Rebates

Premiums can be paid regularly at yearly, half-yearly, quarterly or monthly intervals. A grace period of 30 days shall be allowed for payment of yearly/half-yearly/quarterly premiums and 15 days for monthly.

Maximize Your Returns through Rebates:

7. Emergency Liquidity: Loan and Surrender

• Policy Loan: Financial emergencies are unpredictable. A loan can be availed under the policy after the completion of the first policy year (up to 75% of Surrender Value after 2 years).
• Surrender: The policy can be surrendered after the completion of the first policy year provided one full year's premium has been paid.

8. Important Clauses and Tax Benefits

• Taxes: Statutory Taxes imposed by the Government shall be payable by the policyholder and shall not be considered for benefit calculations.
• Suicide Exclusion: If the Life Assured commits suicide within 12 months, the Nominee shall be entitled to 80% of the total premiums paid.