LIC Jeevan Anand Plan Details & Features

LIC Jeevan Anand Plan Details & Features - LIC Jeevan Anand is an endowment cum whole life policy along with bonus facility. LIC Jeevan Anand is a double death benefit plan if the life insured survives till the end of the policy term. LIC Jeevan Anand has average premium, high rate of bonus and great liquidity features.

What Insured receives: Any Individual who takes LIC Jeevan Anand, receives the Sum Assured with Bonus as maturity benefit but the cover continues till his death. An additional Sum insured is paid whenever the Insured dies.

So LIC Jeevan Anand is both an Endowment plan and a whole life plan. In case the insured dies in Jeevan Anand policy tenure the entire sum assured with Bonus is paid to the nominee and policy would terminate.  An additional accidental death and disability benefit is payable under Jeevan Anand till 70 years of age.

Why to buy Jeevan Anand: Jeevan Anand is amazing plan for guaranteed returns with high coverage and suits people who do not want to take much risk in their lives . Also the coverage continues till death.

Key Features of LIC Jeevan Anand:

LIC Jeevan Anand is a Endowment cum Whole life plan.

Maturity benefit is Sum Assured + Bonus and the life cover continues till death.

Death benefit after policy maturity is only Sum Assured.

Death benefit before policy maturity is Sum Assured + Accured bonus.

Simple reversionary bonus is payable on maturity or earlier death under Jeevan Anand.

Accidental death and disability benefit is an inbuilt feature of Jeevan Anand plan.

Jeevan Anand provides critical Illness benefit.

In Jeevan Anand plan additional premium can be given to people with hazardous occupation.

Benefits Of LIC Jeevan Anand

Income Tax Benefit under section 80C :

Life Insurance premiums paid under for Jeevan Anand, is allowed as a deduction from the taxable income each year under section 80C up to Rs. 1,00,000.

The maturity amount you get under LIC Jeevan Anand is also tax free under section 10(10)D provided all conditions have been fulfilled.

Death Benefit under Jeevan Anand:

In case of death of the Life Insured of Jeevan Anand
· Before the end of the Policy Term, the Sum Assured + accrued Bonus is paid
· After the Policy Term, Sum Assured is paid as Death Benefit whenever the Life Insured dies.

Maturity Benefit of Jeevan Anand:

At the maturity of the Jeevan Anand policy, the insured will get Sum Assured + accrued Bonus + Final Additional Bonus

Additional Features & Benefits of LIC Jeevan Anand Plan

There are 2 in built riders available under LIC Jeevan Anand:

Accidental death benefit rider – an additional sum assured is paid if death is due to accident till 70 years of age.

Accidental disability benefit rider- additional sum assured is payable in installments. Additional rider available : Critical Illness rider.

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