LIC Jeevan Anand is a good whole life plan. It has the wonderful returns and extremely helpful plan that is a mixture of the entire Life Plan as well as the most accepted Endowment guaranteed Plan. In the various discussions LIC Jeevan Anand acts as one of the LIC’s most traditional endowment plan.
The two components of the plan are,
A policy holder
Whole life feature
POLICY – HOLDER:
The LIC Policy – holder of the LIC Jeevan Anand should choose the policy’s period and during this they should pay the premium. After the premium – payment period is over, the endowment part ends and the policy-holder gets back the sum assured and as well the bonuses. If the insurance policy-holder dies in an accident then two times the sum assured is paid to the nominee. The accident gain is available till the policy-holder turns 70.
WHOLE LIFE FEATURE:
The nominees get the sum assured when the policy-holder dies. With this feature you will get the money twice.
FEATURES OF THE PLAN:
The various features of the LIC Jeevan Anand are,
Being an endowment plan, the policy holder gets a return in the form of a yearly bonus. The bonus, once declared becomes a part of the guaranteed benefits. An additional final bonus may also be provided, if the policy has run for a certain minimum period.
In case of death by accident (age limit of 70 years), the policy holder can get an additional sum assured up to Rs. 500,000
The sum assured along with the vested bonuses is payable in lump sum upon death during the select term or upon survival at the end of the term. In case of survival, the additional sum assured will be paid after death. This feature is commonly known as ‘*double sum assured’
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