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LIC Jeevan Nidhi Plan – features and benefits

LIC New Jeevan Nidhi is an annual postponed participation plan offered by a life insurance company in India. It provides double benefits of savings and protection along with the pension. Under this plan, a pensioner can take advantage of multiple pension options for different stages of life.

LIC’s New Jeevan Nidhi Plan is a traditional, profitable pension plan that includes savings and protection benefits. LIC’s New Jeevan Nidhi provides death cover even during the delay period.

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LIC Jeevan Nidhi Plan

LIC’s New Jeevan Nidhi Plan is a traditional and participatory pension plan. Please note that pension plans are also referred to as “deferred installment plans” – which are called providing a range of protection and savings that can be used on your retirement days.

Key features of LIC New Jeevan Nidhi plan

  • Guaranteed additions to the plan are added during the first five years of this policy.
  • Simple Echo Rewards are added from Year Six.
  • Premiums must be paid for the duration of the plan or once at the start of the plan.
  • The plan provides the rider of death and disability benefits in the event of an additional insured being exposed to him if the insured dies as a result of an accident.
  • Premium discounts are allowed to choose a high level of the guaranteed amount and also to pay the premiums annually or semi-annually.

LIC Jeevan Nidhi Plan – features and benefits

  • Premiums paid are exempt under Article 80CCC of the Income Tax Law
  • During the first five years, the policyholder will receive guaranteed additions of Rs 50 per 1,000 insured for each full year
  • The policy will participate in the company’s profits from the sixth year onwards, based on the conditions set by the corporation
  • The guaranteed minimum base amount is Rs 1 lakh under the normal premium and a maximum of Rs 1.50 under individual bonus policies
  • There is no maximum guaranteed principal amount
  • The duration of the policy ranges from 5 to 35 years
  • The minimum age is 55 and a maximum of 65 years

The benefit of death in LIC New Jeevan Nidhi

In the event that the policyholder dies during the first 5 years of the policy – Sum Assured + Guaranteed Additions are paid to the candidate.

In the event that the policyholder dies after the first 5 years of the insurance policy – Sum Assured + Guaranteed Additions + Bonuses announced to the candidate is paid.

So friends, hope you liked this article and you got some new information. Please tell me in the comments.

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