LIC New Jeevan Nidhi Pension Plan (Table 818): It’s a Pension Plan works like regular Endowment Policy good combination of Life Insurance Cover (protection) and best high return investments tool to achieve Longt-Term Financial Goals & for Retirement savings. The plan will give the benefit while maturity with one-third of Lump Sum and Pensions till the Life of Policy Holder. Also, Have an option can take care of liquidity needs by the loan facility and surrender value option. Before buy the pension policy Know the Eligibility, Sum Assured, policy details, policy new features, benefits, reviews, coverage, maturity Benefits, premium calculator, maturity calculator, premium chart, return calculator, tax Benefits under Section 80(C) and Section 10 (D). Generally New Endowment LIC Policies are inbuilt Accidental Death and Disability Benefit Rider. PolicyandFunds.com is one of the top & best LIC Agent in Chennai, provides good customer services to choose perfect Life Insurance Plans in India 2018.
Sample premium rates declared below in table (excluding service tax) per Rs. 1000/- Basic Sum Assured (SA):
Single Premiums | |||
Age at entry | Deferment period | ||
10 | 20 | 30 | |
25 | – | – | 435.80 |
35 | – | 612.00 | 456.15 |
45 | 852.55 | 632.80 | – |
Annual Premiums | |||
Age at entry | Deferment period | ||
10 | 20 | 30 | |
25 | – | – | 32.75 |
35 | – | 53.60 | 34.80 |
45 | 115.25 | 57.15 | – |
Under the policy Grace Period: 30 days will be allowed to premium pay. Policyholder if fails to pay the premium within the policy grace period, automatically the policy will be get lapsed. And there is a option to be revived the policy within the period of two years from the date of the first unpaid policy premiums.
Free Look Period: Policy holder are not satisfied under the policy condition or like coverage etc., policy holder have the options to cancel the policy within the period of 15 days from date of receipt, provided any claim happen LIC will not be paid.
Exclusions: Suicide committed within one year (12 months) of policy period from the date of commencement of risk, LIC will not pay any claim under this policy except for to the extent of 80% of the premiums paid excluding any taxes, extra premium and rider premiums, if any, provided the policy is in force.
Documents Required: Proposal Form 300 shall be filled under this plan with exact medical history, and also other proof of documents are required to completed the policy, like address proof and other Know your customer (KYC) documents. Additionally Medical test may required based on the sum assured also the age of the person wants to take the policy.
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