LIC Jeevan Anand Plan 815
LIC Jeevan Anand Plan 815 Benefits Payable
On the death of the Life Assured before the end of stipulated Policy Term provided the policy is in full force by paying up-to-date premiums:
The death benefit, defined as the sum of “Sum Assured on Death” and vested Simple Reversionary Bonuses and Final Additional bonus, if any, shall be payable. Where “Sum Assured on Death” is defined as higher of 125% of Basic Sum Assured or 10 times of annualized premium. This death benefit shall not be less than 105% of all the premiums paid as on date of death.
On the death of the Life Assured after the end of the stipulated Policy Term provided the policy is in full force:
Basic Sum Assured shall be payable.
On Life Assured surviving at the end of the Policy Term (i.e., on maturity), provided the policy is in full force by paying up-to-date premiums:
Basic Sum Assured along with vested simple reversionary bonuses and Final Additional
bonus, if any, shall be payable.
The loan availed under this policy provided at least three full years’ premiums have been paid subject to the following terms and conditions, within the surrender value of the Policy for such amounts and on such further terms and conditions as the LIC may fix from time to time.
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