LIC – Jeevan Anand

Jeevan Anand is a combination of both Endowment Assurance and Whole Life plans. The insurance plan gives you a financial protection against death throughout the lifetime of the assured with the provision of payment of a lump sum at the end of the chosen term in case of his/her survival.

Benefits
1. Premium : You can pay the premium yearly, half yearly, quarterly, monthly or through salary deduction as opted by you.
2. Bonuses : The Company will declare simple reversionary bonuses on per thousand Sum Assured annually at the end of each financial year. Bonus may also be payable provided the insurance policy has run for certain minimum period.
3. Death Benefit : In case of your death during the selected term the sum assured along with the vested bonuses is payable on death in a lump sum.
4. Survival Benefit : In case of the survival to the end of selected term the sum assured along with the vested bonuses is payable in a lump sum. And an additional Sum Assured is payable on death thereafter.
5. Accidental Benefit : An additional Sum Assured(maximum to Rs.50lakh) will be payable in a lump sum on death due to accident up to age 70 of life assured. Whereas in case of permanent disability of the life assured due to accident the additional Sum assured will be payable in installment.
6. Surrender Value : The surrender values are available on earlier termination of the contract.
7. Guaranteed Surrender Value : Once your policy is more than 3 years old or more than that, then a guaranteed surrender value of 30% of the basic premiums paid excluding the first year’s premium.
8. Extra Benefit : 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.