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LIC’s Jeevan ANURAG is a with profits
plan specifically designed to take care
of the educational needs of children. The
plan can be taken by a parent on his or
her own life. Benefits under the plan are
payable at prespecified durations irrespective
of whether the Life Assured survives to
the end of the policy term or dies during
the term of the policy. In addition, this
plan also provides for an immediate payment
of Basic Sum Assured amount on death of
the Life Assured during the term of the
policy.
Payment of 20% of the Basic Sum Assured
at the start of every year during last 3
policy years before maturity. At maturity,
40% of the Basic Sum Assured along with
reversionary bonuses declared from time
to time on full Sum Assured for the full
term and the Terminal bonus, if any shall
be payable. For example, if term of the
policy is 20 years, 20% of the Sum assured
will be payable at the end of the 17th,18th,
19th year and 40% of the Sum Assured along
with the reversionary bonuses and the terminal
bonus, if any, at the end of the 20th year.
Payment of an amount equal to Sum Assured
under the basic plan immediately on the
death of the life assured.
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