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LIC

LIC's NEW JEEVAN ANAND (815) PLAN

UIN: 512N279V01

This is a participating non-linked plan which offers attractive combination of protection and savings

Combination of Endowment Plan with Profit and whole life plan

Death benefit during the policy term is higher than the basic sum assured

Liquidity during the policy term as well as after maturity

Term Insurance component after maturity without any premium as well any medical requirement

Features and Benefits

This is a participating non-linked plan which offers an attractive combination of protection and savings. This combination provides financial protection against death throughout the lifetime of the policyholder with the provision of payment of lump-sum at the end of the selected policy term in case of his/her survival. This plan also takes care of liquidity needs through its loan facility.

Basic Sum Assured, along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable in lump sum on survival to the end of the policy term provided all due premiums have been paid.

Provided all due premiums have been paid, the following death benefit shall be paid:

  • On Death during the policy term: Death benefit, defined as sum of Sum Assured on Death and vested Simple Reversionary Bonuses and Final Additional bonus, if any, shall be payable. Where, Sum Assured on Death is defined as higher of 125% of Basic Sum Assured or 10 times of annualised premium. This death benefit shall not be less than 105% of all the premiums paid as on date of death.The premiums mentioned above exclude service tax, extra premium and rider premiums, if any. 
  • On death of policyholder at any time after policy term: Basic Sum Assured

The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation during policy term provided the policy is in full force.

Final (Additional) Bonus may also be declared under the plan in the year when the policy results into death claim during the policy term or due for the survival benefit payment provided the policy is in full force and has run for certain minimum term.

LIC's Accidental Death and Disability Benefit Rider is available as an optional rider by payment of additional premium during the policy term. In case of accidental death during the policy term, Accident Benefit Sum Assured will be payable as lumpsum along with the death benefit under the basic plan. In case of accidental permanent disability arising due to accident (within 180 days from the date of accident), an amount equal to the Accident Benefit Sum Assured will be paid in equal monthly installments spread over 10 years and future premiums for Accident Benefit Sum Assured as well as premiums for the portion of Basic Sum Assured which is equal to Accident Benefit Sum Assured under the policy, shall be waived.

Rider sum assured cannot exceed the basic sum assured. For more details, refer to the product/rider brochure or contact Axis Bank.

For more details, refer to nearest Axis bank branch.

Life Insurance Coverage Is Available In This Product. This Life Insurance Product Is Offered and Underwritten By Life Insurance Corporation of India. The Life Insurance contract is between the Proposer and Life Insurance Corporation of India.


For more details on the risk factors, Terms and Conditions, please read the sales brochure carefully before concluding a sale. You may be entitled to certain applicable tax benefits on your premiums and policy benefits. Please note all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. Tax benefits are subject to changes in tax laws. Insurance is the subject matter of solicitation.


The purchase of a Life Insurance Corporation of India product by Axis Bank's customer is purely on a voluntary basis. As Axis Bank is not in the business of insurance, there is no link either direct or indirect between the banking services offered by the bank to its customers and use of the insurance products.

ARN: LIC/Axis/Web Content/Jeevan Anand/ Nov 2017

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