Question

#50 points

Explain

Jeeven Aadhar Plan ​

Answer 1

LIC Jeevan Aadhar Plan. LIC Jeevan Aadhar Plan is a special category planas it is a Life Insurance Policy especially for Handicapped dependents. It is basically a Limited Payment Whole Life Plan which can be utilized as a long term annuity planafter the death of the Life Insured.

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Answer 2

The Jeevan Aadhar Plan from Life Insurance Corporation of India (LIC) is specifically catered towards individuals who have a handicapped dependent. The benefits payable as per this policy will be paid partly as annuity and partly as a lump sum payment to the handicapped dependent. Optional add-ons or benefits can be purchased by the policyholder for an additional premium. The policyholder is also entitled to receive tax benefits under Section 80DDA of the Income Tax Act.