LIC Jeevan Ankur Plan Review- Main Feature & Benefits

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LIC Jeevan Ankur: Hello friend. Happy to welcome you to our blog hope you are doing good. Are you searching for details of the LIC Jeevan Ankur plan? Finally, you are landed in a correct place where you can get the complete details of LIC Jeevan Ankur and its features. LIC is a Life Insurance Corporation company that provides a variety of plans to protect our future from unexpected incidents. It can set up financial security for our future. There will be an imbalance in our lives. This is an opportunity for us to cope with our economy and financial crisis. The family of users who join will be protected after the beneficiaries. Okay now, let’s look into more detail about the LIC Jeevan Ankur Plan and its features below. Stay tunes and read the complete post.

LIC Jeevan Ankur Plan
LIC Jeevan Ankur Plan

LIC Jeevan Ankur:

This LIC Jeevan Ankur is one of the old and traditional policies with more benefits. The LIC Jeevan Ankur is a program created for your child’s education and future needs. This is a profitable traditional program. It serves as a good endowment program for children. In this plan, the parent is a life insurer and the child is recommended. The policy is designed to benefit the child’s future even if the parent dies until the end of his term. This is a future care plan for children. The plan will pay a premium until the policy term ends. In this plan, the basic stipend is paid as an immediate death benefit if the parent dies within the policy term. In the event of the death of the life insurer, the benefit of 10% of the sum assured is payable every year from the date of death till the expiration of the policy. Maturity benefit is payable at the end of the term of the policy. Two additional rights are available in this policy. Okay, let’s look at the main features of the LIC Jeevan Ankur plan.

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Main Features of LIC Jeevan Ankur Plan:

  1. Immediate payment is made if the insured dies during the term of the policy.
  2. Income benefit is payable annually until 10% of the sum assured is paid.
  3. This LIC Jeevan Ankur plan has two additional riders.
  4. Once the policy matures, the benefit is paid regardless of whether life insurance is still alive or not.
  5. It also offers loyalty additions on the policy maturity which is made irrespective of whether the life insured alive or dead.
lic jeevan ankur policy benefits

This policy has many benefits so that this is chosen by many numbers of users for their children.

Benefits of LIC Jeevan Ankur:

  • LIC Jeevan Ankur Plan is used for the nominated person after the death of the parents.
  • Upon the death of the policy, 10% is paid as income benefits every year until the end of the policy term.
  • The maturity benefit is payable regardless of whether life insurance is still alive during the maturity of the policy.
  • Under section 80C the life insurance premiums paid up to 1 lakh are allowed as a deduction from the taxable income each year.  this is one of the best benefits of this plan.  Under section 10 D the maturity benefits are tax-free. 
In addition, LIC has two rides on the LIC Jeevan Ankur plan those are accident benefit rider and Complicated disease rider 

1. Accident benefit rider

This benefit is available only on regular premium policies. The accident benefit for the deceased person will be paid an additional sum equal to the death benefit. 25 lakhs to a maximum of 50 lakhs. The benefits of this plan are available only if the life assured is up to 70 years of age.

2. Complicated disease rider

Users will be given a defined sum of money if they find definite types of complex diseases. The basic sum assured in the scheme is a minimum of Rs 50,000 to Rs 5 lakh. The beneficiary life benefit of the scheme must be at the age of 60 years.

Eligibility Condition of LIC Jeevan Ankur:

  • The entry age of life insured – 18 years to 50 years maximum.
  • Age of Maturity                    –  no minimum age up-to 75 maximum age.
  • The entry of age in a child    –  o minimum and max 17 age.
  • Sum assured ( in Rs)             –  1Lakh to unlimited.
  • Premium Payment term        –  Equal to policy term.

These are all the main eligibility criteria to choose this LIC Jeevan Akur policy.

The revival of the LIC Jeevan Ankur:

If the premiums of the LIC Jeevan Ankur scheme are not paid within the grace period, the policy will be reduced. Upon submission of satisfactory proof of continuous insurance, the balance of a premium from the date of maturity to the maturity date can be renewed with interest for a period of five years.

Rights of Corporation in LIC Jeevan Ankur project:

  • Acceptance of the original terms
  • Accept the revised terms
  • Refusing to revisit the discontinued policy
Thus the LIC Jeevan Ankur plan works. We hope you now fully understand the LIC Jeevan Ankur project. If you still have any queries please feel free to ask us in the below comment section. Thanks for your visit follow us and share our articles with your friends.

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