LIC Jeevan Anand – One of the best product offerings
LIC's much known Jeevan Anand is one of the best product offerings from LIC. It contains the right mix of whole life insurance and endowment. Anyone looking for a policy to secure their future can blindly opt for Jeevan Anand. This plan promises the pre-decided sum assured plus the bonus only at the end of the stipulated maturity time, but the risk cover continues till death. The policy has been designed in a manner whereby the policyholder's family is protected from a financial setback in case of death of the policy holder. Other than the death of the policyholder the sum assured is payable at the end of the endowment term. In a nutshell LIC Jeevan Anand is saving oriented, has high liquidity and comes with moderate premiums.
This policy is right for people of all ages and across all social groups. However, it is best if people take up this policy between the age of 24 to 38. It is an all encompassing Profit Assurance Plan rendering the benefits of a whole life plan and a popular endowment assurance plan. The pre-decided sum cover continues till death.
The plan parameters of LIC Jeevan Anand policy are as follows:
• Age of entry is minimum 18 years and a maximum of 65 years.
• PPT maturity age is a maximum of 75 years
• Minimum sum assured at the end of the endowment term is 1 lacs and the maximum has no limit. The sum assured is usually in multiples of 5,000.
• The endowment term for this policy ranges between min of 5 years to a maximum of 57 years.
Along with the sum assured, the policy holder is able to enjoy a large number of benefits. On maturity of the policy the policy holder receives the sum assured plus the bonus. In case, of the death of policyholder during the premium paying term, the premium payment stops. If the death of the policy holder occurs after the premium paying term, an extra amount which is equal to the sum assured is paid. In this case, no bonus is paid.
Jeevan Anand among other policies also offer double accident benefit during the premium paying term and after that till the age of 70. The premium has been built into a tabular premium rate. The premiums are payable monthly, quarterly, yearly, half-yearly, or through salary deductions.
LIC Jeevan Anand policy may be surrendered after continuing for at least 3 years. The assured surrender value is found to be 30% of the basic premiums paid. This is excluding the first year's premium. Extra premium paid towards accident benefit is excluded.
This particular insurance plan is one of the most sought after endowment plans as it appeals to the traditional psyche of a typical insurance seeker. This endowment plan not only pays the sum assured in case of the demise of the policy holder during the policy term, but it also pays a survival benefit if the policy holder survives the term.
Jeevan Anand is one such endowment plan which provides all encompassing security in case of death of the policy holder and also in case he survives even after the maturity period.
LIC's much known Jeevan Anand is one of the best product offerings from LIC. It contains the right mix of whole life insurance and endowment. Anyone looking for a policy to secure their future can blindly opt for Jeevan Anand. This plan promises the pre-decided sum assured plus the bonus only at the end of the stipulated maturity time, but the risk cover continues till death. The policy has been designed in a manner whereby the policyholder's family is protected from a financial setback in case of death of the policy holder. Other than the death of the policyholder the sum assured is payable at the end of the endowment term. In a nutshell LIC Jeevan Anand is saving oriented, has high liquidity and comes with moderate premiums.
This policy is right for people of all ages and across all social groups. However, it is best if people take up this policy between the age of 24 to 38. It is an all encompassing Profit Assurance Plan rendering the benefits of a whole life plan and a popular endowment assurance plan. The pre-decided sum cover continues till death.
The plan parameters of LIC Jeevan Anand policy are as follows:
• Age of entry is minimum 18 years and a maximum of 65 years.
• PPT maturity age is a maximum of 75 years
• Minimum sum assured at the end of the endowment term is 1 lacs and the maximum has no limit. The sum assured is usually in multiples of 5,000.
• The endowment term for this policy ranges between min of 5 years to a maximum of 57 years.
Along with the sum assured, the policy holder is able to enjoy a large number of benefits. On maturity of the policy the policy holder receives the sum assured plus the bonus. In case, of the death of policyholder during the premium paying term, the premium payment stops. If the death of the policy holder occurs after the premium paying term, an extra amount which is equal to the sum assured is paid. In this case, no bonus is paid.
Jeevan Anand among other policies also offer double accident benefit during the premium paying term and after that till the age of 70. The premium has been built into a tabular premium rate. The premiums are payable monthly, quarterly, yearly, half-yearly, or through salary deductions.
LIC Jeevan Anand policy may be surrendered after continuing for at least 3 years. The assured surrender value is found to be 30% of the basic premiums paid. This is excluding the first year's premium. Extra premium paid towards accident benefit is excluded.
This particular insurance plan is one of the most sought after endowment plans as it appeals to the traditional psyche of a typical insurance seeker. This endowment plan not only pays the sum assured in case of the demise of the policy holder during the policy term, but it also pays a survival benefit if the policy holder survives the term.
Jeevan Anand is one such endowment plan which provides all encompassing security in case of death of the policy holder and also in case he survives even after the maturity period.
