New Janaraksha Plan

New Janaraksha Plan

New Janaraksha Plan Summary: ( Table No.91 )

New Janaraksha Plan is an Endowment Assurance plan that provides financial protection against death throughout the term of the plan. It provides full life insurance for 3 years even when the premiums are not paid. New Janaraksha Plan (with Profits) is specially designed for people with irregular income and whose job is not secure due to fluctuating income, i.e. Workers with the unorganized sector, Daily wage earners, Call Center Employees, Farmers, Small businessman, etc.

Bonuses:
New Janaraksha Plan is a with-profit plan and it participates in the profits of the LIC’s life insurance business.  You will get a share of the profit in the form of bonuses. Simple Revisionary Bonuses are declared per thousand Sum Assured annually at the end of each financial year.  The Bonuses Once declared they form part of the guaranteed benefits of the plan. Final (Additional) Bonus may also be payable provided a policy has run for a certain minimum period.

Death Benefit:
The Sum Assured plus all bonuses to date is payable in a lump sum upon the death of the life assured during the policy term.

Accident Benefit:
The Sum Assured (subject to a limit of Rs.5 lakhs) is payable in a lump sum on the accidental death of the life assured during the policy term. In case of permanent disability of the life assured due to accident during the policy term, this benefit is payable in installments.

Maturity Benefit:
The Sum Assured plus all bonuses declared up to maturity date is payable in a lump sum on survival to the end of the policy term.

Tax Benefit:
The Premiums are exempt u/s 80C.  Maturity/Death Claim is exempt u/s 10(10D)

Premiums:
You may pay premiums yearly, half-yearly, quarterly, monthly or through Salary deductions, throughout the term of the policy or earlier death. After at least two full years’ premiums have been paid, full insurance cover is available even when premiums are not paid for up to three years.

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Eligibility Conditions and Restrictions for New Janaraksha Plan:

  • Minimum age at entry: 18 years (Last Birthday)
  • Maximum age at entry: 50 years (Nearest)
  • Max. age at Maturity: 70 years
  • Min. Term: 12 years
  • Max. Term: 30 years
  • Min. SA: 30,000
  • Max. Sum Assured: 10,00,000
  • Policy/ Housing Loan Available: Yes

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.

Surrender Value:
Buying a life insurance contract is a long-term commitment. However, the surrender value will be available under the plan on earlier termination of the contract.

The Unique Identification No. of the New Janaraksha Plan is 512N083V01


Update: New Janaraksha Plan Table No.91  Has Been Discontinued.


Note:
The above is the product summary giving the key features of the Insurance plan. This is for illustrative purposes only. This does not represent a contract and for details please refer to your policy document.

23 thoughts on “New Janaraksha Plan”

  1. Dear Team,
    My plan details of lic NEW JANRAKSHA PLAN ,premium amt 12098 for 16 yrs.As my DOB is 7th feb 1985.
    after complete my policy term how much amount i will get?

  2. Ashish Kumar Agarwal

    Dear Team,
    My parents age is approx 60 years.please share with me the apropriate policy earlier.

  3. Ankit Kumar Chalaria

    Dear Team,
    Please suggest me the appropriate policy of maturity of approx 15 years. i want to invest the amount of an average 10K.
    Please sugges me earlier.

  4. dear sir,

    i want to adopt long term policy[10 to 20 yr].with monthly instalments 2k to 5k.
    so plz guide me which policy will be suitable .
    thank you.
    regard
    sandeep kumar
    09560035681

  5. DABLU KUMAR S/O RAMCHONDRA MANDAL

    ADDRESS- KULANT, PO- PACHRVKHT BAZAR
    VIA-SHAHKUND , DT- BHAGALPUR813108
    POLICY PLAN- NEW JANRAKSHA

    GIVE ME HELP ABOUT MY PREMIUM AND MY POLICY DETAIL
    MY POLICY NO.521721622

  6. Dear Sir,
    I Have two policy that is-975365756 & 975379351.
    Now i required premium paid record for my income tax return but, im not getting online premium recept for the same.
    Last time i got the same.

    Pls do the needful

    thanks/regards

    Satish Kurve
    (L&T- Mumbai)
    mb.no.-9867554889/9223599696

  7. My plan details of lic NEW JANRAKSHA PLAN ,premium amt 19200 for 21 yrs.Sum Assured:Rs 8,00,000
    after complete my policy term how much amount i will get?

  8. Dear sir,

    please give me details of lic NEW JANRAKSHA PLAN AND OTHER PLAN. What is the bonuses, maturity benefits, premium and other details. How much of money will get it maturity ?what kind of pay premiums yearly, half-yearly, quarterly, monthly or through Salary deductions, throughout the term of the policy or earlier death.

    Please give me whole details because I am applying for policy even first time.

    thanks with regards,
    kavita

  9. my question is in endowment policy if 3 primiums r paid and policy lapsed what person gets after maturity? table no 14.

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