Jeevan Anand Summary:
Jeevan Anand is a life insurance plan offered by LIC of India. Jeevan Anand is combination of Endowment Assurance and Whole Life plans. It provides double benefits financial protection against death throughout the lifetime of the life assured with the provision of payment of a lump sum at the end of the selected term in case of his survival.
This is one of the plans that clearly define the meaning of “Jevan ke saath bhi, Jeevan ke baad bhi”.
Jeevan Anand Benefits
- Sum Assured with Bonus on Maturity.
- Limited premium payments.
- Whole life risk cover, even after you stops paying premiums,
- Double accidental cover upto age 70.
- Encashment/Surrender of the policy after maturity. [New Feature added to this plan]
- Loans available. [Interest charges as per prevailing rates]
- Tax Savings available as per income tax rules
Following modes are available to pay your premiums under Jeevan Anand
- Half Yearly
- Salary deductions also available
Bonuses under Jeevan Anand:
LIC of India declares Simple Revisionary Bonuses per thousand Sum Assured annually at the end of each financial year. Once declared, they form part of the guaranteed benefits of the plan. Bonuses will be added during the selected term or till death,
Final (Additional) Bonus may also be payable provided the policy has run for certain minimum period.
Benefits in case of death during the selected term:
The Sum Assured along with the vested bonuses is payable on death in a lump sum.
Benefits in case of survival to the end of selected term:
The Sum Assured along with the vested bonuses is payable in a lump sum on survival to the end of the term. An additional Sum Assured is payable on death thereafter.
Accident Risk cover under Jeevan Anand:
An additional Sum Assured (subject to a limit of Rs.5 lakh) is payable in a lump sum on death due to accident up to age 70 of life assured. In case of permanent disability of the life assured due to accident this additional Sum assured is payable in instalments.
These are the optional benefits that can be added to your basic plan for extra protection/option. An additional premium is required to be paid for these benefits.
Buying a life insurance contract is a long-term commitment. However, surrender values are available on the plan on earlier termination of the contract.
Guaranteed Surrender Value:
The policy may be surrendered after it has been in force for 3 years or more. The guaranteed surrender value is 30% of the basic premiums paid excluding the first year’s premium. Any extra premium(s) paid and premium(s) towards Accident Benefit are also excluded.
Contact us for buying new LIC’s Jeevan Anand Life Insurance Policy. Our authorized Insurance Advisor/Agent will Contact you within 2 working days.
Note: The above is the product summary giving the key features of the plan. This is for illustrative purpose only. This does not represent a contract and for details please refer to your policy document. For updated information please visit LIC of India’s official website http://www.licindia.com.