LIC New Jeevan Anand Insurance Policy: Know Premium, Sum Assured & Other Important Details

LIC New Jeevan Anand Insurance Policy: The country's largest life insurer, LIC of India is offering a variety of endowment plans. LIC's New Jeevan Anand policy offers a combination of both protection and savings, as per insurance major's website - www.licindia.in  

However, endowment insurance products are different from the usual term insurance policies which mature in the event of death of an insured person. These plans offer savings along with the protection of the insured person for a chosen policy term period. 

LIC New Jeevan Anand Insurance Policy: Premium Rates & Sum Assured (excluding GST) 

This policy can be purchased by any individual in the age group of 18-50 years for a policy term of 15 years to 35 years with the maximum age of maturity at 75 years. 

It can also be purchased with a minimum sum assurance of Rs. 1 lakh and it has no upside limit for the maximum amount of sum that can be assured at the time of maturity of the policy. 

Though, Premiums can be paid regularly at yearly, half-yearly, quarterly or monthly intervals over the policy term. 

Premium rates per Rs. 1,000 of the basic sum assured (excluding GST): 

It should be noted, if premiums are not paid within the grace period then the policy will lapse. It then can be revived within a period of two consecutive years from the date of first unpaid premium and before the end of policy term on payment of all the arrears of premium together with interest.