If you’re looking for lifelong financial security, LIC’s NEW JEEVAN ANAND plan (UIN: 512N279V02) could be a great choice for you. It’s a simple savings and insurance plan from LIC. You pay money regularly and LIC gives you guaranteed benefits. They also give extra bonuses sometimes. So your savings can grow over time. And the best part is, your family stays protected even after the plan ends. This plan keeps them safe for your whole life.
What You Should Know
The NEW JEEVAN ANAND plan from LIC is a great way to save money and stay protected for your whole life. You pay money to LIC regularly. In return, you get guaranteed amounts plus bonuses. This helps your savings grow. And the plan keeps giving money to your family even if something happens to you, not just during the plan period but for your entire life. So you don’t have to worry.
With LIC’s NEW JEEVAN ANAND, you get a share of LIC’s profits as a bonus every year. Plus, if something happens to you, your family gets money. This gives you peace of mind knowing they’ll be okay.
What You Get
- Your family gets money for your whole life
- You get a payout when the plan ends
- Bonuses make the payouts bigger
- You can get the money in parts
- You can take a loan if needed
- You save on taxes
Who Can Get It
To get the NEW JEEVAN ANAND plan from LIC, you need to meet some rules. You can choose how much money you want the plan to give, how long you want the plan to last, and how often you want to pay. This makes it easy to make the plan fit your needs and budget.
| Rule | Lowest | Highest |
|---|---|---|
| Age to Start | 18 years | 50 years |
| Age When Plan Ends | – | 75 years |
| Plan Length | 15 years | 35 years |
| Money From Plan | Rs. 1 lakh | No limit |
| When to Pay | Every year, half-year, 3 months, or month | |
If Something Happens to You
The NEW JEEVAN ANAND plan from LIC makes sure your loved ones are taken care of if something happens to you. If you pass away while the plan is running, the person you chose will get a big amount of money. This includes the sum you were promised plus any extra bonuses.
The money they get is usually 10 times the amount you pay every year or 125% of the basic sum. Whichever is higher. This means your family will have enough to live well and achieve their dreams, even if you’re not there.
On top of this, all the bonuses that built up over time are also given to them. This can make the amount they get even bigger. It’s an extra way to help your family when they need it most.
After the Plan Ends
What’s special about LIC’s NEW JEEVAN ANAND is that the cover keeps going even after the plan’s end date. So if something happens to you after it’s over, the person you chose will still get the basic sum. This protects them for as long as you live.
When the Plan Ends
The NEW JEEVAN ANAND plan from LIC rewards you for sticking with it and saving regularly. When you reach the end of the plan, you get the basic sum you signed up for plus any bonuses that built up over time. It’s a big payout for your commitment.
Getting the Money
If you prefer to get the money in smaller amounts instead of all at once, the plan lets you do that. You can choose to get it in parts over 5, 10, or 15 years. This way, you can make the money fit your needs and plans.
Extra Options
To make the NEW JEEVAN ANAND plan even better, you can add on some extra options by paying a bit more:
- Accident Protection: If an accident happens to you, this gives your family even more money to help them manage.
- More Life Cover: If you need more protection, you can increase the amount your family would get if something happens to you.
- Critical Illness: If you get a serious illness, this gives you money to help with treatment and living costs while you get better.
By adding the options that make sense for you, you can make your LIC NEW JEEVAN ANAND plan fit your exact protection needs. This way, you and your loved ones can have full coverage no matter what.
What’s Not Covered
- If something very sad happens and the person with the plan takes their own life within the first year, the person they chose will get back 80% of the money paid. But they won’t get any other benefits.
- If this happens within a year of restarting a plan that had stopped, the person they chose will get either 80% of the money paid or the amount they’d get for ending the plan early. Whichever is more. But they won’t get the money meant for if the person passed away.
Common Questions
What if I can’t pay?
The NEW JEEVAN ANAND plan from LIC gives you some extra time to pay. You get 30 days more for payments every year, half-year, or every 3 months. For monthly payments, you get 15 days more. If you still don’t pay by then, the plan stops. But if you paid for at least 2 years straight, the plan keeps going with lower benefits. If you stop before 2 years, the plan ends and you don’t get anything.
Can I end my plan early?
Yes, you can end your LIC’s NEW JEEVAN ANAND plan anytime after you’ve paid for 2 full years. If you do, you’ll get back some money. It’s called the Surrender Value. It’s either a fixed amount based on how much you’ve paid (Guaranteed Surrender Value) or a special amount LIC figures out (Special Surrender Value). You’ll get whichever is higher.
Is anything not covered in the plan?
In the NEW JEEVAN ANAND plan from LIC, if the person with the plan sadly takes their own life within the first year of starting or restarting the plan, the money their loved one gets is limited. If it happens within the first year of the plan, 80% of what was paid gets returned. If it happens within a year of restarting the plan, they get either 80% of the money paid or the surrender value, whichever is more.
Can I restart a plan that stopped?
If your NEW JEEVAN ANAND plan stopped because you didn’t pay, you can start it again within 5 years of the first missed payment. To do this, you need to show LIC you’re still healthy and pay any money you missed plus a little extra. LIC will check everything and decide if the plan can restart. If they say yes, you’ll get all the plan’s benefits back.