5 Reasons to Go for LIC Plan New Jeevan Anand

LIC Jeevan Anand Policy is the new endowment cum while life insurance by leading insurance player of India, Life Insurance Corporation. This endowment cum whole life insurance policy comes with bonus facility and double death benefit. If the policyholder survives till the maturity of the policy term then they will get the double death benefit. LIC New Jeevan Anand Policy comes with high bonus rate, average premiums and high liquidity features.

The insured will get all bonuses plus sum assured as maturity benefit, but the life coverage will continue until the death of the policyholder. The nominee will receive additional sum assured upon death of the insured. So, this is an insurance plan which is both a while life insurance policy and endowment plan. If the insured dies within the tenure of the policy term, then the nominee will receive the entire sum assured along with other accrued bonuses and thereafter the policy will be terminated. This life insurance policy also offers additional coverage for accidental death benefits and accidental disability benefit to the policyholder till 70 years of age.

Jeevan Anand Plan Parameters

·         Entry Age – 18 to 50 years

·         Policy Term – 15 to 35 years

·         Premiums Paying Mode – Monthly, Quarterly, Half Yearly and Yearly

·         Policy Revival – Within Two Years

·         Basic Sum Assured – 100000 and above in multiple of 5000

·         Loan – Available after successful completion of 3 years

·         Rebate - 2% on yearly, 1% on Half Yearly, Nil on Quarterly

·         Surrender – After Three Years of full premium payment

Highlights of LIC Jeevan Anand

·         It is a whole life cum endowment plan

·         Maturity benefits is accrued bonuses + sum assured and the life cover continues till death of insured

·         Death benefit before policy maturity is sum assured + accrued bonuses and death benefit after policy maturity is only sum assured

·         Reversionary bonuses is available upon maturity or earlier death

·         Disability benefits or accidental death benefits is in-built feature of the plan

·         Additional high coverage through one extra rider of critical illness benefit

·         Huge sum assured rebate is offered

·         Under this plan insured with hazardous occupation get additional premiums

Top 5 Reasons to go for LIC Plan New Jeevan Anand

·         After the maturity of this LIC Life Insurance, the whole life term policy starts automatically. The insured gets life coverage until he/she dies and to avail the life coverage no premium is to be paid. LIC pays the premiums for the insured for this term insurance.

·         If the policyholder survives even after his 100^th age, he will get the sum assured from LIC. The policyholder gets benefits and returns twice during the policy term, one at the time of the maturity and the next return is on the completion of his/her 100^th age or on their death.

·         Policyholder automatically participates in profits during the policy tenure. The policyholders are like a participating entity in LIC’s profits and they will receive rewards in the form of reversionary bonuses which will be declared by the company during the policy term. The policyholder who survives will receive basic sum assured plus the other eligible bonuses.

·         Accidental Death and Disability Benefit Rider is the in-built feature of the policy. With small additional premium, insured can avail the benefits of accidental death which is the lump sum assured of accidental death and they can also enjoy the permanent disability bonus which is paid over 10 years in equal monthly installments.

·         After successful completion of three years with the policy, the insured becomes eligible for loan from LIC.