Jeevan Anand Endowment plan - Benefits and Features

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LICIndia.in - Jeevan Anand is an endowment plan, and is one of the most sold plan of LIC. This plan provides the risk cover even after the maturity period. It is a whole life policy as it provides insurance cover to the policy holder for the entire of his/her life. 

Jeevan Anand Endowment plan - Benefits and Features

Jeevan Anand Endowment plan

The policy provides bonus facility as well. This is a double death policy plan, if the holder of the policy survives till the end of the policy terms date. Here, the payment will be like –


Pay (The policy holder receives) = Sum assured + Bonus (till the death) + Additional sum assured whenever insurance holder dies.


There are certain parameters which must be known before applying the policy. Here they are -

Featured for the LIC Jeevan Anand Plan includes

1. Double accidental benefits will be provided, if the holder dies during accident, up to the age of 70 years.
 

2. After policy maturity, the death benefit will be only the sum assured.
 

3. People will hazardous occupation have to pay some additional bonus in order to acquire this policy.
 

4. Large sum assurance rebate is also offered by the L I C Jeevan Anand plan.
 

5. The minimum premium payment years is 5 years and the maximum years to pay the premium is 57 years.
 

6. Single premium offer is not available under this plan.
 

7. If you wish to surrender the policy after 3 years, then you will definitely get certain amount.
 

8. Loan facility is available under this scheme.
 

9. Simple reversionary bonus is only payable during the early death or on early maturity.
 

10. Accidental benefit and disability benefit is offered only till the 70 years of the life insured.

Benefits Of LIC JEEVAN ANAND PLAN –

1. ACCIDENTAL BENEFIT – This benefit is an inbuilt profit plan under this scheme and the policy holder will get a certain amount extra, during the accident of the policy holder.
 

2. DEATH BENEFIT – In case, if the policy holder dies before the end of the policy terms, then the pay will be sum assured + the accrued bonus. In case, if it is after the policy term, then it is paid as benefit sum assured.

3. INCOME TAX BENEFIT – Premium paid under the Life Insurance Corporation policy and maturity proceeds are exempted from the tax under two different sections.
 

4. MATURITY BENEFIT – Maturity benefit is like during the maturity of the policy, the policy holder will get the sum assured during signing the policy + accrued bonus + final additional bonus ( whatever it may be) will be given to the family or nominees of the policy holder. 

This is all the important points and facts about LIC Jeevan Anand Plan.

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