LIC Jeevan Anand

Zindagi Ke Saath Bi, Zindagi Ke Bad Bhi

Jeevan Anand is one of the best products of Life Insurance Corporation (LIC) . Basically, this plan is a unique combination of a Whole Life Plan and Endowment Assurance Plan. It provides financial protection against death throughout the lifetime or 100 yrs of age of the life assured even after maturity. That’s why the policy is also known as “Zindagi Ke Saath Bhi, Zindagi Ke Baad Bhi”.

Product Highlight:

• Double benefits - Double Maturity
• The premiums need to be paid for a maximum of 75 Years.
• The minimum age at entry is 18 years, while the maximum age is 65 years.
• The minimum sum assured is Rs. 1 lakh while there is no maximum limit.
• The minimum term is 5 years while the maximum term is 57 years.
• The premium can be paid on a Quarterly, Half-yearly or yearly basis.
• This is a "with profits" plan which pays reversionary non-guaranteed bonuses at the end of every financial year.
• Final (Additional) Bonus may also be payable provided the policy has run for certain minimum period.
• Tax benefits under section 88 for the premium paid + the maturity/death proceeds received are Tax-Free.
• There is no any private insurance company having such type of plan.
  

Benefits:

Maturity Benefit:
When the policyholder survives till the date of maturity and policy is in force the benefits payable are Full Sum Assured+Vested Bonuses+Final Additional Bonus. Risk cover continues after maturity without the need to pay premium up to 100 years.

Death Benefit:
If death occurs during the premium paying term Sum Assured+Bonus+FAB is payable. An extra amount equal to the S.A is payable if death occurs after the premium paying term.

Accident Benefit:
An additional Sum Assured is payable in a lump sum on death due to an accident up to age 70 of life assured. In case of permanent disability of the life assured due to the accident, this additional Sum assured is payable in installments.

Surrender Value:
Buying a life insurance contract is a long-term commitment. However, surrender values are available on the plan on earlier termination of the contract.