LIC's New Jeevan Nidhi, a conventional with profits pension plan with a combination of protection and saving features. know more with slideShare.

1. LIC New Jeevan
Nidhi

2. New Jeevan Nidhi is a plan of Life Insurance
Corporation of India.
This is a conventional with profits pension plan
with a combination of protection and saving
features.
This plan provides for death cover during the
deferment period.
And also offers annuity on survival to the date of
vesting.
LIC New Jeevan Nidhi
plan

3. On survival of the policyholder beyond term of
the policy the accumulated amount (i.e. Sum
Assured + Guaranteed Additions + Bonuses) is
used to generate a pension (annuity) for the
policyholder.
This plan also provides a risk cover during the
deferment period.
The premiums paid are exempt under Section
80CCC of Income Tax Act.
LIC New Jeevan Nidhi plan

4. Minimum Basic Sum Assured • Rs.1,00,000 under Regular
Premium policies
• Rs.1, 50,000 under Single Premium
policies
Maximum Basic Sum Assured No Limit
Minimum Entry Age 20 years (nearest Birthday)
Maximum Entry Age 60 years (nearest birthday)
Policy Term 5 to 35 years
Minimum Vesting Age 55 years (nearest birthday)
Maximum Vesting Age 65 years (nearest Birthday)
Eligibility Conditions

5. • Benefit on Vesting
• Death Benefit
• Guaranteed Additions
• Participation in profits
Benefits
• Accident Benefit Rider
• Paid-up Value
• Surrender Value
Optional Benefit
Benefits

6. On vesting an amount equal to the Basic
Sum Assured along with accrued
Guaranteed Additions, vested Simple
Reversionary bonuses and Final
Additional bonus, if any, shall be made
available to the Life Assured.
Benefit on
Vesting

7. Death during first five policy years: Basic Sum
Assured along with accrued Guaranteed Addition shall be paid
as lump sum or in the form of an annuity or partly in lump
sum and balance in the form of an annuity to the nominee.
Death after first five policy years: Basic Sum
Assured along with accrued Guaranteed Addition, Simple
Reversionary and Final Additional Bonus, if any, shall be paid
as lump sum or in the form of an annuity or partly in lump
sum and balance in the form of an annuity to the nominee.
Death Benefit

8. This policy provides for Guaranteed
Additions @ Rs.50/- per thousand Sum
assured for each completed year, for the first
five years.
Guaranteed Additions

9. The policy shall participate in profits of the
Corporation from the 6th year onwards and
shall be entitled to receive Simple
Reversionary bonuses declared as per the
experience of the Corporation, provided the
policy is in full force.
Participation in profits

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