LIC Jeevan Anand Table-149 Life Insurance
===== Jeevan Anand Table-149 =====
W.e.f. 1-2-2002
| …………..Gen. Policy Condition………….. | |
| Min. age at entry | 18 yrs completed |
| Max. age at entry | 65 yrs |
| Modes allowed | All |
| Accident benefits per 1000 S.A. | Incl. in T.P |
| Min. S.A. | Rs 1 lakh |
| Max. S.A. | Any amount |
| Min. Prem. Term | 5 years |
| Max. Prem. Term | 57 years |
| Max. DAB | 5 lakhs |
| Max. ppt Mat. Age | 75 years |
.
| ………..Underwriting requirements………… | |
| Female Living category | I/II/III |
| Form No. | 300 (Rev.) |
| Age Proof | Std/NSAP-1/2/3 |
| Actual Sum Assured (ASA) | Basic S.A. |
| Dating back@ 8% | Allowed |
| Risk coverage | SA+Bonus |
| Non-Medical General | Allowed |
| Non-Medical Professionals | Allowed |
| Non-Medical special | Allowed |
.
| …………….Policy Servicing…………… | |
| Assignment | Yes |
| Revival | Yes |
| Surrender of Policy | Yes |
| Housing Loan | Yes |
| Policy loan@ 9% | Yes |
| Critical Illness Rider | Yes |
| Key main Insurance | No |
| Term Rider Option | No |
.
Maturity Benifits:
Bonus plus Sum Assured is payable with Final Additional Bonus if any at the end of the Premium Paying Term.
Death Benifits:
(a) Accumulated Bonus and Sum Assured are payable if death occurs BEFORE the Premium Paying Term.
(b) No bonus is payable but an additional amount equal to the SUM Assured is payable if death occurs AFTER the Premium Paying Term.
Other Details:
(a) During the premium paying term and thereafter up to age 70, accident benefit is available.
(b) This plan is a combination of Whole Life and End. Assurance Plan.
(c) Till the death of the Policy holder, risk cover continues even after the Premium Paying Term is over.
(d) This plan is not allowed to proponents with history of deformity falling under Group B.
(e) This plan can be allowed to the proponents engaged in hazardous occupations attracting occupational extra subject to imposing restrictive clause 85.
Rebates for High Sum Assured:
| Rebates for High Sum Assured: | |
| Below 3 lacs | Nil |
| 3 lacs to less than 5 lacs | 1 |
| 5 lacs to less than 10 lacs | 1.5 |
| 10 lacs & above | 1.75 |
.
Under the plan, Maximum Accident Benefit cover is Rs 5 Lakhs. This limit excludes Accident Benefit availed under other plans.
Example:
Mr. Tabrej, aged 25 years, takes a Jeevan Anand Policy for 25 yrs for 1 lakh. On maturity, Mr. Tabrej will receive Rs. 2,12,500 (Rs 1,12,500 being estimated bonus at Rs 45 per thousand p.a.) but policy risk continues till Mr. Tabrej is alive.
In case, Mr. Tabrej dies (after PPT is over) at the age of 60 years, his nominee will get additional Rs. 1 lakh equal to S.A. amount. Since, Mr. Tabrej has already received the bonus, second time bonus is not payable. In case, Mr Tabrej dies during PPT, his nominee will get Rs. 1 lakh + accrued bonus till Mr. Vijay’s death.
| Policy Servicing | |
| Assignment | Yes |
| Revival | Yes |
| Surrender of Policy | Yes |
| Housing Loan | Yes |
| Policy loan@ 9% | Yes |
| Critical Illness Rider | Yes |
| Key main Insurance | No |
| Term Rider Option | No |
Related posts:
- LIC Amulya Jeevan. Life Insurance India Table 190 General police condition Min. age at entry Max. age at entry Max. Maturity Age Minimum Term Maximum Term Modes allowed Minimum S.A S.A in multiples...
- LIC Jeevan Varsha Life Insurance General policy condition Min. age at entry Max .age at entry: For 9 yrs Term For 12 yrs Term Max. maturity age Terms Allowed PPT...
- LIC Whole Life Policy. Table 2 (with profits) & Table 5 (Limited payment with profits)-LIC India Whole Life Policy. Table 2 (with profits): W.e.f. 15-12-1956 General Conditions: Min. age at entry: 15 years. Max. age at entry: 60 years. Min. S.A.:...
- LIC Jeevan Bharti- 1. Table-192 India General policy conditions Min. age at entry Max. age at entry Max. maturity age Terms Allowed Min. S.A Max. S.A S.A in multiples of Modes...
- LIC Endowment Policy India- Table 14 General Policy Conditions Min. age at entry Max. age at entry Max. maturity age Minimum Term Maximum Term Min. S.A. Max. S.A. S.A. in multiples...
nly 6years
Girish Reply:
April 9th, 2011 at 8:48 am
It is a traditional policy which works on the Bonus basis. This is one of the risk which is not included in the policy.
[Reply]