LIC Policy :This term policy includes bonus and death benefits, along with additional features like accidental death and disability riders for added protection.
LIC's Jeevan Anand Policy is a life endowment plan, which offers many benefits to the policy holders. This plan ensures that the insurance coverage continues even after the premium payment term is completed. Policy holders can avail benefits of up to Rs 25 lakh in 35 years by depositing just Rs 45 daily.
This term policy includes bonus and death benefits, along with additional features like accidental death and disability riders for added protection. Additionally, this policy also offers flexible premium payment options and allows policy surrender after two years, making it an attractive investment.
If the policy holder dies due to an accident, he gets an additional cover of up to Rs 5 lakh under the policy. If the policy holder becomes disabled, LIC pays the sum assured in installments under this plan, so that his daily needs can be met.
This scheme is designed to provide financial relief to the policy holder. Importantly, there is no extra charge for these additional benefits under LIC Jeevan Anand Plan, making it even more attractive.
Special features of LIC Jeevan Anand Plan
- This policy of LIC gives sum assured and extra bonus. On survival, maturity benefit is paid and the policy remains active.
- After the death of the policy holder, the nominated person receives the sum assured along with the nominal amount with the option of additional top-up cover.
- A lump sum amount is given at the end of the chosen period. Any person between 18 to 50 years can invest in this plan.
- The minimum age of this plan is 18 years and maximum age is 50 years. The policy term period is 15 to 35 years and the base sum assured is Rs 1,00,000.
- Every year a discount of two percent is taken in this plan and a discount of one percent is given in half yearly. In this plan of LIC, loan facility is also available after 3 years.
How to deposit Rs 25 lakh?
This policy offers the opportunity to deposit Rs 25 lakh over 35 years, which requires depositing Rs 1,358 every month. This means that you will have to invest only Rs 45 daily. There are two bonuses included under this plan: a total deposit amount of Rs 5,70,500 and a basic sum assured of Rs 5 lakh. On maturity, the policy holder will also receive a reviser bonus of Rs 8.60 lakh and a final bonus of Rs 11.50 lakh in addition to the deposited amount. At least 15 years of investment is required for the partnership to be successful.
LIC Policy Schemes
This policy offers additional benefits through various riders, such as Accidental Death and Disability Rider, Accidental Benefit Rider, New Term Insurance Rider, and New Critical Benefit Rider. If the policy holder dies, the nominee gets 125% of the death benefit. However, you do not get tax exemption under this policy. Thus, this policy provides protection as well as additional financial benefits.
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