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LIC Jeevan Ankur

Sample Premiums for this plan
Healthy | (non-tobacco) | Male | Policy term = 2 years | Policy Payment Term = 20 years
1 Lakhs Cover
3,891
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Endowment plan with Loyalty Additions
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Maturity Benefit
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Death Benefit

LIC Jeevan Ankur Plan is a Traditional Plan with profits. This is a child benefit Endowment Plan where the parent is the Life Insured and the child is the nominee. This plan has been especially designed so that the benefits are payable for the child’s future even if the parent does not survive till the end of the policy tenure.

In this plan, premium needs to be paid till the end of the policy tenure. The Sum Assured + the Loyalty Additions would be paid as Maturity Benefit irrespective of whether the Life Insured is alive or not.

However, if the Life Insured, i.e. the parent dies within the policy tenure, the basic Sum Assured is paid as Immediate Death Benefit and the policy continues. There is a further payment of 10% of the Sum Assured every year from the date of death of the Life Insured till the end of the policy tenure as Income Benefit. The Maturity Benefit is paid when the policy tenure is over. This policy has 2 additional riders available.

compare child plans.

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LIC Jeevan Ankur - Key Features

This is a endowment plan with Loyalty Additions
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In case of death of the Life Insured within the policy tenure, Sum Assured is paid immediately and 10% of the Sum Assured is paid every year till the end of the Policy Tenure as Income benefit facility
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When the policy matures, the Maturity Benefit is paid irrespective of whether the Life Insured is alive or not
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This policy offers Loyalty additions on the policy maturity irrespective of whether the Life Insured is alive or not
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There is large Sum Assured rebate in this plan
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There are 2 additional riders available in this plan.
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Riders
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There are 2 additional riders available in this policy

  • Accidental Benefit rider
  • Critical Illness rider

LIC Jeevan Ankur - Benefits

Death Benefit

In case of death of the Life Insured, i.e. the Parent, immediate Death Benefit of the Sum Assured is paid to the nominee + 10% of Sum Assured is al...

Maturity Benefit

When the policy matures, the Maturity Benefit is paid irrespective of whether the Life Insured is alive or not.

Maturity Benefit = Basic Sum...

Income Tax Benefit

Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C. The maturity benefi...

Eligibility conditions and other restrictions in LIC Jeevan Ankur Plan

  Minimum Maximum
Sum Assured (in Rs.) 1,00,000 No Limit
Policy Term (in years) Higher of (18 - Age of Child) or 8 25 – Age of Child
Premium Payment Term (in years) Equal to Policy Term
Entry Age of Policyholder 18 50
Age at Maturity - 75
Entry Age of Child (in years) 0 17
Premium (in Rs.) - -
Payment modes Single, Yearly, Half-Yearly, Quarterly, Monthly and SSS

LIC Jeevan Ankur - FAQs

angle right iconYou stop paying the premium

The policy will lapse if the premium stops. However if at least 3 years’ premium shave been paid then the policy acquires a Paid Up Value and the risk cover continues at the reduced Sum Assured. The reduced Paid Up value would be payable on maturity or on earlier death.

angle right iconYou want to surrender the policy

Surrender Value is paid if premiums for 3 years have been paid up for Regular Premium Policies and 1 year for Single Premium Policies.

Guaranteed Surrender value for Regular Premium Policies = 30% of total basic premiums paid - 1st year premium

Guaranteed Surrender Value for Single Premium Policies = 90% of the total basic premiums paid

angle right iconYou want a loan against your policy

Loan is not available under this policy.