February 15, 2010 by akhilendra
Jeevan Anurag
Today, we are going to look at LIC’s- Jeevan Anurag
Plan Name– Jeevan Anurag
Eligibility –
| Age at entry | Age of the Life Assured- 20 to 60 years (age nearest birthday) |
| Age of the Life Assured at maturity | Maximum 70 years (age nearest birthday) |
| Term | All terms from 10 to 25 years. In case of single premium mode minimum term shall be 5 Years. |
| Minimum Sum Assured | Rs. 50,000 /- |
| Maximum Sum assured | No limit. Sum Assured will be in multiples of Rs.5,000 /- only. |
| Mode | Yearly, Half-yearly, Quarterly, Monthly or through salary deductions in case of regular premiums. |
Premium Option – Following premium paying terms are offered:
(i) Single Premium- One Year
(ii) Regular Premium payable during (n-3) Years, where n is the policy term
(iii) Regular Premium payable throughout the policy term
Benefits– Benefits are paid at specified period, irrespective of whether life assured survive the term or dies during the term. In addition, company will also pay the sum assured at the death of life assured during the term of life insurance policy.
Assured Benefit – 20% of the sum assured at the beginning of the last three years the policy term & 40 % at the end of term with the reversionary bonus, if any. For example- if term of policy is 20 years, then 20 % of the sum at beginning of 17th,18th & 19th years, then 40% with any bonus, at the end of 20 years.
Death Benefit — if the life assured dies during the policy, then company will pay the sum assured.
Overview –Coming from india’s biggest & oldest life insurance company, it is a with profit plan meant to take care of children’s education. In this plan, benefits are payable at certain fixed period. It can be used effectively for funding children’s education. Its offers a grace period of one month, guaranteed surrender value, paid-up value, loan on policy & revival.
Disclaimer – details has been taken from company’s website & may change as per company’s policy. Please consult company before taking any decision on policy. Author is not responsible for any change, if any.
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