Lic Beema Products

1. Endowment (Plan no:333)

2. Money Back (Plan no: 334, 335, 336, 337 and 339)

3. Child Plans (Plan no: 340 & 341)

4. Jeevan Anand (Plan no: 342 )

5. Bima Kiran (Plan no: 344 )

6. Jeevan Tarang (Plan no: 345 )

7. Jeevan Amulya (Plan no: 346 )

8. Jeevan Aastha (Plan no: 347 and 348 )

9. Children's Endowment Plan (Plan no: 349 )

10. Jeevan Saral (Plan no: 350 )

11. Jeevan Vidhya (Plan no: 352 )

12. Jeevan Shree (Plan no: 353 )

13. ENDOWMENT MICRO INSURANCE (Plan No. 354 )

14. MICRO (SINGLE TERM ) INSURANCE (Plan No. 355 )

15. JEEVAN MADHUR / MANGAL Group Insurance(Plan No.801/851 )

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Jeevan Anand Plan Details

Jeevan Anand Plan Details 

Minimum entry age:  16 years completed 

Maximum entry age: 65 years 

Term: 5 to 25 years 

Minimum Sum Assured: 1,00,000/- 

Then after in multiple of 10,000/- 

Maximum Sum Assured: Unlimited 

Mode of Payment: Yearly, Half Yearly, Quarterly

Riders: Accidental Benefit 

INTRODUCTION

A unique combination of a whole life and endowment plan, ’Jeevan Anand’ combines investment return with profit at the end of the term and lifelong insurance cover. It is suitable for people who wish to provide for their dependents, insured sums, limit the premium payment term to their earning period and at the same time provide for their old age.

Insurance (Jeevan Anand Plan) Terms and Conditions

• Incase the insured dies within two years from the start of the policy the sum assured is given to the nominee. 
• If the insured commits suicide within two years from the start of policy the S.A is not payable. 
• After two years of payment if the insured commits suicide the S.A is given.
• Loan and surrender are only available after two years of premium payment. 
• One year risk coverage.
• If incase the insured dies after two years from the start of the policy the S.A + Bonus is given to the nominee.
• If incase the insured dies from accident the nominee will receive the S.A+Bonus+AB. 
• If the insured is permanently disabled the S.A is received and the further premium is waived off. 
• Once the policy matures the insured get the sum assured.
• After the policy matures the insured gets the S.A + Bonus. 
• The policy once matured it will cover AB for age up to 70 years. 
• As this is a whole life insurance so if the person dies after 70 years the nominee will get the SA.

Policy Loan

The Policyholder can raise a loan on the security of the policy after the policy has acquired paid up value by payments of premiums at least for 3 years from the date of commencement of the policy. In case of single premium, the loan can be availed after 2 years from the date of commencement of the policy.

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Jeevan Anand

Plan Number: 342 

Description:

This plan is a combination of endowment with profit plan and deferred whole life without profit plan. It provides the pre-decided SA along with vested bonuses at the end of the premium paying term, but the risk cover on the life continues till death of the Life Assured.

Features:

• This is a with profit policy.
• Min S.A. allowed is 100000 and Max. S.A. allowed is no limit.
• Sum Assured along with the vested bonus, if any, are payable at the end of the Premum Paying Term; maturity value.
• Sum Assured along with vested bonus are payable on death of the Life Assured during the Premum Paying Term.
• An amount equal to the Sum Assured is payable on death after the Premium Paying Term, free insurance cover after maturity.
• Double accident benefit including permanent disability benefit is available from the age of 18 to 70 Years.

Lic Beema Jeevan Anand plan 342 

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Jeevan Anand Terms And Conditions

• After the policy matures the insured gets the Sum-Assured + Bonus. 
• The policy once matured it will cover accident benefits for age up to 70 years. 
• As this is a whole life insurance so if the person dies after 70 years the nominee will get the Sum-Assured.

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Insured Dies After Two Years Terms and Conditions

• If in case the insured dies after two years from the start of the policy the Sum-Assured +Bonus is given to the nominee

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Life Insurance And Other Savings

Contract Of Insurance:

A contract of insurance is a contract of utmost good faith technically known as uberrima fides. The doctrine of disclosing all material facts is embodied in this important principle, which applies to all forms of insurance.

At the time of taking a policy, policyholder should ensure that all questions in the proposal form are correctly answered. Any misrepresentation, non-disclosure or fraud in any document leading to the acceptance of the risk would render the insurance contract null and void.

Protection: Savings through life insurance guarantee full protection against risk of death of the saver. Also, in case of demise, life insurance assures payment of the entire amount assured (with bonuses wherever applicable) whereas in other savings schemes, only the amount saved (with interest) is payable. 

Aid To Thrift: Life insurance encourages 'thrift'. It allows long-term savings since payments can be made effortlessly because of the 'easy installment' facility built into the scheme. (Premium payment for insurance is either monthly, quarterly, half-yearly or yearly). 

Liquidity: In case of insurance, it is easy to acquire loans on the sole security of any policy that has acquired loan value. Besides, a life insurance policy is also generally accepted as security, even for a commercial loan.

Tax Relief: Life Insurance is the best way to enjoy tax deductions on income tax and wealth tax. This is available for amounts paid by way of premium for life insurance subject to income tax rates in force. 

Assessees can also avail of provisions in the law for tax relief. In such cases the assured in effect pays a lower premium for insurance than otherwise.

Money When You Need It: A policy that has a suitable insurance plan or a combination of different plans can be effectively used to meet certain monetary needs that may arise from time-to-time.

Children's education, start-in-life or marriage provision or even periodical needs for cash over a stretch of time can be less stressful with the help of these policies.

Alternatively, policy money can be made available at the time of one's retirement from service and used for any specific purpose, such as, purchase of a house or for other investments. Also, loans are granted to policyholders for house building or for purchase of flats (subject to certain conditions).

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Accident Terms And Conditions

• If incase the insured dies from accident the nominee will receive the Sum-assured Amount + Bonus + Accident Benifit.

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Suicide Insurance Terms And Conditions

• If the insured commits suicide within two years from the start of policy the S.A is not payable. 

• After two years of payment if the insured commits suicide the S.A is given.

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Jeevan Ananda Plan

Details

Minimum Entry Age: 16 Years Completed

Maximum Entry Age: 65 years 

Term: 5 to 25 years

Minimum Sum Assured: 1,00,000/-

Then After in Multiple of 10,000/-

Maximum Sum Assured: Unlimited 

Mode of Payment :

          1)Yearly, 

          2)Half Yearly,

          3)Quarterly 

Riders: Accidental Benefit

Hol Life plan 342 Jeevan Ananda

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