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LIC New Janaraksha Plan


New Janaraksha (Table 91) is an Endowment Assurance plan that provides financial protection against death throughout the term of plan. It pays the maturity amount on survival to the end of the term. This is a with-profit plan and participates in the profits of the Corporation’s life insurance business
In this plan, even if the policyholder is not able to pay premiums after paying first 2 years premiums, then the life risk cover continues for 3 more years from unpaid premium.


Features of LIC New Janaraksha :


•   This plan an endowment plan with guaranteed returns
•   Sum assured + accrued Bonus paid on Maturity or on earlier Death
•   The plan is allowed to physically handicapped people
•   Even if the policyholder is not able to pay premiums after paying first 2 years premiums, then the life risk cover continues for 3 more years from unpaid premium.

LIC New Janaraksha Eligibility Conditions :


Minimum

Maximum

Sum Assured (in Rs.) 30,000 10,00,000
Policy Term (in years) 12 30
Premium Payment Term(in years) 12 30
Entry Age of Policyholder 18 50
Age at Maturity - 70
Payment modes Yearly, Half-yearly, Quarterly, Monthly and SSS

Benefits of LIC New Janaraksha :


Maturity Benefit – At the maturity of the policy, the insured will get Sum Assured + accrued Bonus.

Death Benefit – In case of death of the Life Insured, the nominee receives Sum Assured + accrued Bonus in a lumpsum.

Income Tax Benefit – Available under Section 80 C for premiums paid and Section 10 (10D) for Maturity returns
Loan on Policy - Available
Housing Loan Surity- Available

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