Jeevan Anand is a non-market linked, profit participating endowment plan from the house of LIC. It offers the dual benefit of life protection and long term saving. The life risk cover under the plan prevails even after the policy term and the death benefits are paid even if the policy holder dies after the completion of the policy term.
The policy incorporates a unique feature of calculating death benefits depending upon the date of the death.
- Death During Policy Term: Sum Assured + vested bonuses + Final Bonus if any.
- Death After Policy Term: Basic Sum Assured is paid in addition to the Maturity Benefit already paid on maturity of the policy.
The Sum Assured on Death is higher of the following:
- 125% of the Basic Sum Assured
- 10 times the annual premium
(Subject to a minimum of 105% of the total premiums paid till death)
LIC’s Jeevan Anand – Key Features
- Maturity Benefits: LIC’s Jeevan Anand is a simple endowment plan that offers financial protection and life cover. Maturity benefits include (Sum Assured + Simple Reversionary Bonus +Final Addition Bonus)
- Death Benefit: Vary depending upon the period of death.
- Income Tax Benefits: All premiums paid under the policy are eligible fordeduction under Section 80C of the Income Tax Act 1961. Death benefits too are exempted from tax under Section 10(10D) of the same.
- Types of Deaths Covered: Both types of deaths, natural and accidental, are covered under the plan.
- Riders:Benefits of Accidental Death and Disability Benefit Rider can be enjoyed after paying an additional premium.
Policy Details at a Glance:
- Sum Assured – Rs 1,00,000 to No limit
- Policy Term – 15 Years – 35 Years
- Entry Age: 18 Years
- Maturity Age:75 Years
- Surrender Value:The policy acquires a surrender value only if at least three premiums are paid.
- Loan:Loan can be availed against the policy in case at least three premiums are paid.
- Premium Payment Mode:Monthly, Quarterly, Half- Yearly, Yearly
Premium Chart: The chart below shows the annualized premium for a Sum Assured of Rs. 1,00,000. The premium paid varies according to the age of the insurer and the plan term chosen.
|Age (Years)||Policy Term (Years)|
- Annual Premium for Sum Assured Rs. 1,00,000
- Premium Rates may vary after application of GST
- Premium Rates may get dearer under Monthly, Quarterly and Half- Yearly modes.
Prudent financial planning is crucial for safeguarding the interests of your loved ones. An inflow of funds post retirement or death benefits at the sudden and unexpected death of the policy holder; LIC’s Jeevan Anand offers the benefits of both. Take the crucial decision today and invest in the best. At InsuranceBima.com we offer the most transparent advice to help you choose the best plan. Call +91-9230091000 to buy LIC Jeevan Anand or to seek any further information about the plan and its features. We are authorized agency for LIC of India and provide life insurance plans/policies to individuals, HNIs/NRIs and corporates in New Delhi, Jalandhar, Chandigarh, Mohali, Zirakpur, Kharar. Shortly, we will be opening offices in Ludhiana and Patiala in Punjab too.