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512N271V02
LIC’s New Jeevan Nidhi Plan is a conventional with profits pension plan with a combination of protection and saving features. This plan provides for death cover during the deferment period and offers annuity on survival to the date of vesting.
Single, Yly, Hly, Qly, Mly( Through ECS or SSS only)
Basic Sum Assured | Rebate(Rs.) |
---|---|
1,00,000 to 2,95,000 | NIL |
3,00,000 and above | 2 %oBasic S.A |
Basic Sum Assured | Rebate(Rs.) |
---|---|
1,00,000 to 2,95,000 | NIL |
3,00,000 and above | 5 %oBasic S.A |
Deferment Period 7 years to 35 Years (Under Regular Premium)
5 years to 35 Years (Under Single Premium)
Premium Paying Term 7 years to 35 Years (Under Regular Premium).
Minimum Entry 20 Years (Nearest Birtday)
Maximum Entry Age 60 Years (Nearest Birtday)(Under Single Premium)
58 Years (Nearest Birtday)(Under Regular Premium)
Vesting AgeMinimum 55 years (nearest birthday)
Maximum 65 years (nearest birthday)
Deferment Period Minimum 5 Years (For Single Premium)
Minimum 7 Years (For Regular Premium)
Minimum Basic Sum AssuredRs.1,50,000 for Single Premium
Rs.1,00,000 for Regular Premium
Maximum Basic Sum Assured No upper limit
Optional Rider LIC’s Accidental Death and Disability Benefit Rideravaiable
Death during first five policy years: Provided the policy is in full force, Basic Sum Assured along with accrued Guaranteed Addition shall be paid as lump sum or in the form of an annuity or partly in lump sum and balance in the form of an annuity to the nominee.
Death after first five policy years: Provided the policy is in full force, Basic Sum Assured along with accrued Guaranteed Addition, Simple Reversionary and Final Additional Bonus, if any, shall be paid as lump sum or in the form of an annuity or partly in lump sum and balance in the form of an annuity to the nominee. In any case, provided all due premiums have been paid, the total death benefit at any time shall not be less than 105% of the total premiums paid (excluding taxes, extra premium and rider premium, if any). The amount of annuity will depend on the payable lump sum and the then prevailing immediate annuity rates.
-Provided the policy is in full force, on vesting an amount equal to the Basic Sum Assured along with accrued Guaranteed Additions, vested Simple Reversionary bonuses and Final Additional bonus, if any, shall be made available to the Life Assured. The following options shall be available to the Life Assured for utilization of the benefit amount.
-Provided the policy is in full force, on vesting an amount equal to the Basic Sum Assured along with accrued Guaranteed Additions, vested Simple Reversionary bonuses and Final Additional bonus, if any, shall be made available to the Life Assured. The following options shall be available to the Life Assured for utilization of the benefit amount.
In case the total benefit amount is insufficient to purchase the minimum amount of annuity, then the said amount shall be paid as a lump sum to the Life assured.
The annuity shall only be purchased from Life Insurance Corporation of India.
Conditional Surrender facility is available
Payment of Single Premium (excluding taxes and extra premium, if any) along with Loyalty Addition, if any, in case of Life Assured surviving to the end of the policy term.
Loan not payable under this plan.
As per applicable rule.
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