Frequently Asked Questions
Q.1) I am an NRI, can I avail LIC New Jeevan Anand Plan?
Yes, you can avail New Jeevan Anand plan by Life Insurance Corporation of India, anytime you wish to. As per Indian laws, any Non Resident of India is eligible to buy insurance plans from Indian Insurance Companies. An individual is eligible to get insured by this insurance plan after the submission of the required documents and the correctly filled registration form. After all the required verification is done by the LIC, a confirmation shall be sent to the byuer within 15 to 20 working days.
Q.2)Is the plan subject to be forfeited by the company directly?
Yes, the insurance plan is subject to forfeiture directly by LIC in case the company finds any information provided by the policyholder as misleading or deceiving. The company has complete right to cancel the insurance plan by paying the applicable surrender value. The company has the right to forfeit the insurance plan in a case like this, under Section 45 of Insurance Act, 1938.
Q.3) What are the basic requirements while making a death claim?
In order to make a claim on death, the entitled nominee shall be required to present the claims form along with the original policy documents as issued by LIC in the name of the insured. Additionally, as mentioned in the rider brochure, the nominee shall be required to sumit all the details and documents whichever applicable , such as bank account details, death certificate, medical treatment details before death etc.
Q.4)What are the basic requirements while making maturity or surrender claim?
While making claims on maturity, the insurance holder is required to provide a completely filled discharge form attached with the original policy documents as issued by LIC in the name of the policyholder. Additionally, the policyholder has to provide bank account details for NEFT transfer of the maturity benefit.
While making surrender claims also, the insurance holder has to provide duly filled discharge form attached with the original policy documents as issued by LIC in the name of the policyholder, along with bank details for NEFT transfer of surrender benefits as applicable.
Q.5)Can the policy be dated back?
Yes, the LIC New Jeevan Anand plan can be easily dated backward within the same financial year with charges applicable at the plan term end as per conditions applied.