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LIC New Jeevan Nidhi Plan
A Non-linked, Conventional with-profits deferred Pension plan.
| Eligibility Conditions & Restrictions | ||
|---|---|---|
| Minimum age | : | 20 years (Completed) |
| Maximum age | : | 58 years for Regular Premium payment 60 years for Single Premium payment |
| Minimum Sum Assured | : | Rs.1,00,000 for Regular Premium payment Rs.1,50,000 for Single Premium payment |
| Maximum Sum Assured | : | No limit |
| Deferment term | : | 7 years to 35 years for Regular Premium payment. 5 years to 35 years for Single Premium payment. |
| Vesting Age | : | 55 years to 65 years |
| Premium Mode | : | Yearly / Half yearly / Quarterly / Monthly (Thru Bank) / Single Premium |
| Loan | : | No Loan facility |
| Surrender | : | Eligible after 3 years (Should Surrender before maturity) |
| On Death | : | Sum Assured + Bonus is paid |
| On Maturity | : | Pension is payable Option to commute 1/3rd of Maturity amount |
| Income Tax Benefits | : | (i) Premiums paid are eligible for Tax rebate u/s 80c (ii) Commutation is Tax free u/s 10(10a) (iii) Pension is Taxable |
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