subject: LIC Life Insurance Jeevan Anand Policy [print this page] LIC Life Insurance Jeevan Anand Policy
Jeevan Anand policy offered by LIC Life Insurance India is a mixture of whole life insurance and endowment insurance plan. This Plan is beneficial for individuals who wish to give their dependents happiness and financial security in their life, even in your absence.
In Endowment Insurance, the policy holder choose policy duration during which the premium is to be paid. When the premium paying duration over, the policy holder gets the sum assured plus bonuses. After Endowment Policy, Whole life policy feature starts, the nominee gets the sum assured when the policy holder dies. In short, you get double sum assured. Jeevan Anand Policy by LIC is a with-profit plan and participates in the profits of the Corporation's life insurance business
Key Features of LIC Jeevan Anand Policy:
It is a combination of both the whole life insurance and endowment policy.
In this plan, the policy term period you choose, decides the premiums how much you have to pay. Whereas, the policy cover on the insured person does not get over till he dies, similar to whole life insurance policy.
Bonus reserve during the premium paying term is payable at the end of the premium paying term. No Bonus is paid on death after the premium paying term.
Riders Benefit of Double Accident Benefit. No need to pay additional premiums for this benefit as it come along with it.
Eligibility Criteria for Jeevan Anand Policy:
Entry Age Minimum Age Limit is 18 years and Maximum Age Limit is 65 years.
Maturity Age Maximum Maturity Limit is 75 years.
Sum Assured Minimum Sum Assured limit is Rs 1 Lac.
Premium Paying Term 5 years to 57 years.
Premium Paying Frequency Monthly, Quarterly, Half Yearly, Yearly, Single.
Key Benefits of LIC Life Insurance Jeevan Anand:
Maturity Benefit If the policyholder survives the policy term, sum assured along with additional bonus is paid.
Death Benefit In Case of premature death of the life insured during the policy term, Sum Assured as well as additional bonus is paid to the nominee.
Tax Benefit Premiums paid for this plan by the insured person is eligible for tax benefit under section 80C and 10(D) of Income Tax Act 1961.
welcome to Insurances.net (https://www.insurances.net)
