Jeevan Anurag Summary: (Child Insurance Plan)
LIC Jeevan Anurag (Table 168) is a with-profits plan specifically designed to take care of the educational needs of children. The plan can be taken by parents. In addition, this plan also provides for immediate payment of the Basic Sum Assured amount on death of the Life Assured during the term of the policy.
Assured Benefit:
Payment of 20% of the Basic Sum Assured at the start of every year during the last 3 policy years before maturity. At maturity, 40% of the Basic Sum Assured along with revisionary bonuses declared from time to time on full Sum Assured for the full term and the Terminal bonus, if any shall be payable. For example, if the term of the policy is 20 years, 20% of the Sum assured will be payable at the end of the 17th,18th, 19th year and 40% of the Sum Assured along with the revisionary bonuses and the terminal bonus, if any, at the end of the 20th year.
Death Benefit:
Payment of an amount equal to Sum Assured under the basic plan immediately on the death of the life assured.
Eligibility Conditions and Restrictions Jeevan Anurag Basic Plan:
| Age at entry | Age of the Life Assured- 20 to 60 years (age nearest birthday) |
| Age of the Life Assured at maturity | Maximum 70 years (age nearest birthday) |
| Term | All terms from 10 to 25 years. In case of single premium mode minimum term shall be 5 Years. |
| Minimum Sum Assured | Rs. 50,000 /- |
| Maximum Sum assured | No limit. Sum Assured will be in multiples of Rs.5,000 /- only. |
| Mode | Yearly, Half-yearly, Quarterly, Monthly or through salary deductions in case of regular premiums. |
Eligibility Conditions and Restrictions Term Assurance Rider
| Age at entry | Age of the Life Assured- 20 to 50 years (age nearest birthday) |
| Age of the Life Assured at maturity | Maximum 60 years (age nearest birthday) |
| Term | NIL |
| Minimum Sum Assured | Rs. 1,00,000 /- |
| Maximum Sum assured | An amount equal to the Sum Assured under Basic Plan subject to the maximum of Rs. 25 lakh overall limit taking all term assurance riders availed under all existing policies of the life assured and the term assurance rider under the new proposal into consideration. |
| Mode | NIL |
The Term Assurance Rider Sum Assured will be in multiples of Rs.25,000 /-.
Eligibility Conditions and Restrictions Critical illness Rider:
| Age at entry | Age of the life Assured- 20 to 50 years (age nearest birthday) |
| Age of the Life Assured at maturity | Maximum 60 years (age nearest birthday) |
| Term | NIL |
| Minimum Sum Assured | Rs. 50,000 /- |
| Maximum Sum assured | An amount equal to the Sum Assured under Basic Plan subject to the maximum of Rs. 5 lakh overall limit taking all critical illness riders availed under all existing policies of the life assured and the critical illness rider under the new proposal into consideration. |
| Mode | NIL |
The Critical Illness Rider Sum Assured will be in multiples of Rs.10,000 /-.
Premium Payment Options:
Following premium paying terms are offered:
- Single-Premium– One Year
- Regular Premium payable during (n-3) Years, where n is the policy term
- Regular Premium is payable throughout the policy term.
Cooling off period:
If you are not satisfied with the “Terms and Conditions” of the policy, you may return the policy to Life Insurance Corporation Of India within 15 days.
Update: LIC Jeevan Anurag Plan No. 168 Has Been Discontinued.
Note:
The above is the product summary giving the key features of the plan. This is for illustrative purposes only. This does not represent a contract and for details please refer to your policy document.
