LIC Jeevan Anand Review
LIC’s Jeevan Anand is a with-profit insurance plan combining the benefits of Endowment Assurance plan and Whole Life plan. The plan offers pre-decided assured sum and bonuses at the end of the policy term, but continues the risk cover till the death of the insured person. It also offers higher life cover, smooth return, death and maturity benefits, bonuses, liquidity, and lots of flexibility.
Jeevan Anand plan enables you to choose between monthly, quarterly, half-yearly or yearly premium payment modes. The limited premium payment plan requires you to pay the premium only till the selected term of years or until death during the term period. The plan offers lump sum amount at the end of the endowment term in case of survival of the insured person, and it can be reinvested in an annuity provision or in any other suitable way. The plan offers excellent provisions for the family of the insured person in case of early death of the insured, and offers a lump sum amount. The plan offers guaranteed surrender value when the policy is given up after 3 years or more. However, the plan offers the surrender values on earlier termination of the life insurance contract.
LIC’s Jeevan Anand plan participates in the profits of the LIC’s life insurance business, and hence offers bonuses from the share of the profit. It provides simple reversionary bonuses at the end of each financial year. But the bonus will depend on future profits and hence not guaranteed. But, once bonus is declared in any year, it is guaranteed.
Benefits of LIC Jeevan Anand:
- Endowment Assurance plus Whole Life plan.
- Offers flexibility to choose the premium payment mode.
- With-profit insurance plan providing bonuses.
- The risk cover continues till the insured person’s death even after the policy term.
- Offers maturity benefit, death benefit and accident benefit. Supplementary/extra benefits are optional when additional premium is paid. Double accident benefit is offered during the premium term and up to age 70 thereafter.
LIC Jeevan Anand policy is ideal for people of all ages who desire to give guaranteed financial protection to their families after their death.
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Comments
Please don’t fall into trap by seeing words like whole life policy. As a analyst if you look at traditional policy, it only helps agents and company. The resturn is so less that it will not even work around 4% which is much lesser than FD.
Go in for ULIP which is quite cheap now a days. Don’t fall into the trap of agents selling you traditional policy.
Invest Smartly—Bee Wise.
I want to buy a lic policy. I can invest 5000 monthly. I am married yet I do have any insurance policy will you suggest me any polcy which will give me 30 lakhs after 15 yers. Is jeevan anand mony back policy.
Thanks
Narendra singh
i have jeevan anand policy from dec’2006 annual premium i pay Rs.10209 for 26 years. My question at the time of maturity lam sum what amount i will get.
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