LIC's New Jeevan Nidhi

LIC’s New Jeevan Nidhi is a traditional participating deferred annuity plan which facilitates savings for regular income after retirement. Life cover is also available under the plan.

Key Features of the LIC's New Jeevan Nidhi :

• It is a participating Deferred Annuity Plan with Regular and Single premium payment option.
• There are Guaranteed Additions accruing in every policy year for first five years.
• Simple reversionary bonuses and Final Additional Bonus accrue form the 6

Benefits of the LIC's New Jeevan Nidhi :

• Guaranteed Additions @ 5% of Sum Assured for each completed policy year is added to the corpus in the first five years of the term.
• On Vesting, basic Sum Assured + Guaranteed Additions + vested simple reversionary bonus + Final Additional Bonus, if any, is payable to the policyholder.
• The benefit payable on vesting can be utilized in any of the following ways:
• To use the entire corpus to buy an immediate annuity form the company
• To use the entire proceed to buy a Single Premium Deferred Annuity from the company
• On death during the first 5 years of the term, basic Sum Assured + accrued Guaranteed Additions are paid in lump sum or annuity or partly in lumps sum and partly in annuity.
• On death after the first five years, basic Sum Assured + accrued Guaranteed Additions + vested Simple Reversionary Bonuses and Final Additional Bonus, if any is paid either in lump sum or in annuity or partly in lump sum and partly in annuity.
• The Death Benefit should be a minimum of 105% of all premiums paid till death.
• Income tax benefit on the premium paid as per Section 80CCC and on the death benefit under Section 10(10D) of the Income Tax Act.

Product Specification :

Details about Premium :