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LIC Jeevan Ankur


LIC Jeevan Ankur (Table 807) is a child benefit endowment plan. This plan is specially designed to meet the Child's future requirements either the parent is alive or not. If you are a parent of a child of below 17 yrs old, then Jeevan Ankur is the best policy you can take In this plan, the parent is the life insured and the child should be the nominee.
In this plan, the premium needs to be paid till the end of the policy term. The Sum assured with the Bonus will be paid to the child at the end of the policy term irrespective of whether the parent is alive or not.

If the parent dies within the policy tenure, Sum assured will be paid as immediate death benefit. From then, 10 % of the Sum assured will be paid to the child every year as income benefit and future premiums are waived ie., No need to pay any premium after the death of the life insured. At the end of the policy tenure, Sum assured with the accured bonus will be paid to the child as maturity benefit.

Features of LIC Jeevan Ankur :


• In this plan, the parent life will be insured and the child shall be the nominee.
• Sum assured with Loyalty Additions will be paid on policy maturity.
• On the death of life insured within the policy term :

Sum assured will be immediately paid to the child.
Future premiums are waived. So no premium needs to be paid after that.
10% of Sum assured will be paid to the child every year, starting from the next year of parent's expiry.
Sum assured with Loyalty Addition (Bonus) will be paid at the end of the policy term.



LIC Jeevan Ankur Eligibility Conditions :


Minimum

Maximum

Sum Assured (in Rs.) 1,00,000 No Limit
Policy Term (in years) 18 25
Premium Payment Term(in years) Equal to Policy term
Entry Age of Life Insured 18 50
Entry Age of Child 0 17
Age at Maturity - 75
Payment modes Single, Yearly, Half-yearly, Quarterly and SSS


Benefits of LIC Jeevan Ankur :


Maturity Return – Sum assured with Loyalty addditions (Bonus) wil be paid irrespective of the life insured is alive or not.

Death Benefit – On death of the life insured ie., the Parent, Sum assured will be paid to the child immediately. Then 10 % of Sum assured will be paid to the child on every policy anniversary till the policy matures.

Income Tax Benefit – Available under Section 80 C for premiums paid and Section 10 (10D) for Maturity returns
Loan on Policy - Not Available
Housing Loan Surity-Not Available