Searching for an endowment plan that offers the advantages of an entire life policy? Purchase the LIC Jeevan Anand Policy that accompanies bonus policy. This is a sort of Double Death Benefit Plan that guarantees developed advantages if the insured person survives till the end of the maturity date. This arrangement involves high reward rate, normal premium and even phenomenal liquidity features.
What are the Salient Features of a LIC Jeevan Anand Policy?
The following shows the key features of the policy that include:
- Policy maturity sum in addition to death benefit as entirely guaranteed
- the nominee is qualified for death benfits and accumulated bonus, if the insured dies before the policy reaches its maturity date.
- LIC Jeevan Anand Policy is an endowment plan cum whole life plan
- The maturity benefits involves the entire entirety guaranteed in addition to the life cover till death in addition to accumulated bonus
- Simple Reversionary reward is payable when insured dies before the maturity of the policy or when the policy gets matured.
- A extensive total of guaranteed rebate is payable with the policy
- People Involved with dangerous occupation can purchase the LIC Jeevan Anand Policy and appreciate extra premiums.
- Death benefit, is the total guaranteed amount after the policy is matured.
- There is an option of higher cover if there should be an occurrence of Critical Illness Benefit through 1 extra rider
Benefits offered by LIC Jeevan Anand Policy
These benefits include:
Death Benefits-when the insured person dies before the policy is been matured. in that scenario, the nominee, gets Sum Assured in addition to accumulated bonus. At the time, when the policy matures the Sum Assured is payable as Death benefit as and when the insured person dies.
Maturity Benefit – According to this, the policy holder will get the Sum Assured alongside accumulated benefit in addition to Final Additional bonus when the policy matures.
Income Tax Benefit – Under Section 80C, the best of all, you can appreciate the exemption of tax if you purchase the LIC Jeevan Anand Policy and alongside this the maturity proceeds are additionally exempted under Section 10 (10D).
The Eligibility Criteria of the policy
This article, therefore, gives you insights into the details of LIC Jeevan Anand Policy and everything you want to know to buy it.
The base Sum Assured is Rs. 1,00,000, while the greatest Sum Assured has no bounds. The minimum and maximum terms of policy is 5 years and 57 years respectively. Once again, the base premium installment term and the maximum premium payment term is 5 years and 57 years. In order, to buy the policy the candidate should be at least 18 years of age and no more than 65 years old.
With respect to the time of maturity, there is no minimum years however the most extreme is 75 years. The payment of premiums can be done yearly, quarterly, half-yearly, month to month or SSS.
This article, along these lines, gives you detailed knowledge into the points of interest of LIC Jeevan Anand Policy and all that you need to know to buy it.
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