LIC India - New Jeevan Nidhi

---

New Jeevan Nidhi Posted: 03 Jan 2013 11:43 PM PST LIC’s New Jeevan Nidhi is a deferred pension plan. Plan no 812 is a conventional plan with deferred annuity. The plan is open for the age between 20 years to 60 years old individual. Features at glance: Insurance Cover upto Date of Vesting Option To purchase an Immediate Annuity OR Single Premium Deferred Pension Plan Guaranteed Additions for the first 5 years With Profit: New Jeevan nidhi (Table no.812) is a with profit pension plan, after 6th policy year Vested Bonus and Final Additional Bonus benefits will be given (if any). Flexible Premium: You may opt for single premium option or go for regular premium i.e Yearly, Half-yearly, Quarterly or Monthly (through ECS/SSS). Accident Benefit Rider Regular premium policy holders can avail the Accident Benefit Rider. Eligibility conditions and restriction for New Jeevan Nidhi: Eligibility conditions  Description Minimum Maximum Entry Age  20   60 Vesting Age  35   55 Policy Term  5  35 Sum Assured  Rs.1,50,000 (Single premium) Rs.1,00,000 (Regular Premium)  No limit Death Benefit: Death within first 5 years: Nominee will receive Basic Sum Assured + Accrued Guaranteed Additions. Death on or after 6th year: Nominee will receive Basic Sum Assured + Accrued Guaranteed Additions + Vested Bonuses & Final Additional Bonus (if any). The death benefit will be given to the nominee as lump sum OR In the form of Annuity OR Partly in lump sum and balance in the form of Annuity at the then prevailing Immediate annuity rates. Benefit on Vesting: Basic Sum Assured Accrued Guaranteed Additions Vested Simple Reversionary Bonuses & Final Additional Bonus (if any) Guaranteed Additions: Payable for the first five years @ Rs.50/- per thousand Basic Sum Assured for each completed year. Participation in profits: Simple Reversionary Bonus will be added from the 6th policy year onward till the end of the deferment period. Bonus will be announced by LIC every year. Final Additional Bonus will be given either on vesting or on earlier death at the rates announced by LIC. Accident Benefit Rider: Death due to Accident: Accident Benefit Sum Assured will be payable as lump sum along with the death benefit under the Basic plan. Disability due to Accident: All Future Premiums are waived and An amount equal to the Accident Benefit Sum Assured will be paid in monthly installments spread over 10 years. Eligibility Condition for Accident Benefit Rider: Age at Entry: 20-60 years Sum Assured: 25,000 to max 50 lakh overall limit incl. all policies. Back dating: allowed within same financial year Revival: In case, you missed few years premium, you will still have the option to revive the policy within 5 years from the date of First Unpaid premium and before the date of vesting by payment of Arrears of premium plus Interest and subject to continued insurability. Surrender: Don’t want to continue the policy? No problem. You can surrender the policy at any time on payment of at least 3 years' premiums and after completion of at least 3 policy years but before the date on which annuity vests. The Surrender Value payable would be the higher of Guaranteed Surrendered Value and Special Surrender Value. The Surrender proceeds shall be utilized to purchase an immediate annuity product or a new Single Premium deferred pension product from LIC. Benefit Illustration: Description Single Premium   Regular Premium   Age  35  35 Policy Term  25 Years  25 Years Premium (excl. Service charge  Rs.78,667  Rs.4,121 Premium Mode  Single  Yearly Sum Assured  Rs.1,50,000/-  Rs.1,00,000/- Vesting Age  60 Years  60 Years Guaranteed Vested Benefit  Rs.1,87,500/-  Rs.1,25,000/- Assuming Investment Return @8%  Rs.3,50,250/-  Rs.2,33,500/-   Refer Old Jeevan nidhi if you are looking for old plan. Email ID: Use this Headline Animator on your Blog/website Click here to read more about New Jeevan Nidhi Be sure to visit LIC of India for other plans. Have Questions? Ask in our forum: Insurance and investment forum You can also write reviews, tips, guide and insurance related articles and send it to us for publishing. 'New Jeevan Nidhi

You are subscribed to email updates from LIC of India To stop receiving these emails, you may unsubscribe now.	Email delivery powered by Google
Google Inc., 20 West Kinzie, Chicago IL USA 60610