Jeevan Anand LIC Plan

Jeevan Anand (149)           

Features: 

In order to give wider choice to our customers, it has been decided to introduce with effect from 1 February, 2002, 'Jeevan Anand', a With Profit Assurance Plan. Basically, the plan is a combination of the Whole Life Plan and the most popular Endowment Assurance Plan.The plan provides the pre-decided Sum Assured and Bonuses at the end of the stipulated premium paying term, but the risk cover on the life continues till death.

·         Moderate Premiums High bonus

·         High liquidity

·         Savings oriented .

·         Premiums are usually payable for the selected term of years or until death if it occurs during the term period.

·         This policy not only makes provisions for the family of the Life Assured in event of his early death but also assures a lump sum at a desired age. The lump sum can be reinvested to provide an annuity during the remainder of his life or in any other way considered suitable at that time.

Suitable For: 

Being an endowment assurance + whole life policy, this plan is apt for people of all ages and social groups who wish to protect their families from a financial setback that may occur owing to their demise.

The amount assured if not paid by reason of his death earlier will payable at the end of the endowment term where it can be invested in an annuity

provision for the rest of the policyholder's life or in any other way he may think most suitable at that time.

Plan Parameters

	Minimum	Maximum
Entry Age	18	65
Sum Assured	100000	10000000
Term	5	57
Mode of Payment All Modes	Maximum Maturity Age 75	Loan on Policy Yes

Premium Stoppage: 

If payment of premiums ceases after at least THREE years' premiums have been paid, a free paid-up policy for a reduced sum assured will be automatically secured provided the reduced sum assured, exclusive of any attached bonus, is not less than Rs. 250/-. The reduced sum assured will become payable on the event as stipulated in the policy ..

Survival Benefits:

Sum assured along with all vested bonuses payable at the end of the premium paying term ( Endowment term).

Death Benefits:

Sum Assured along with vested bonuses are payable on death during the premium paying term and policy ceases. An amount equal to the Sum Assured is payable if death occurs after the premium paying term.

Simple Reversionary Bonus accrues during the premium paying term and is payable at the end of the premium paying term or on earlier death along with Final Additional Bonus, if any. No Bonus is paid on death after the premium paying term.