The LIC Jeevan Anand plan
is a blend of endowment insurance and whole life plan. This plan provides dual
benefit to an individual with assured bonus at the time of maturity. It is
a plan providing sum assured as per the policy with bonus at the time of
maturity of the policy but death cover continues to exist till an individual is
deceased. Further, at the time of death of the insured, additional sum assured
is given to the nominee of the insured and after which policy gets terminated.
But in case an individual dies within the policy tenure, sum assured is
provided to the nominee and policy is terminated at that point and nothing
further is provided to the nominee. The plan has extraordinary bonus rate,
abundant liquidity features with low cost premium suitable for every class.
LIC Jeevan Anand policy also has a unique feature of
providing accidental benefit to the insured. The nominee(s) of the insured are
provided sum assured in the event of death due to accident. And in case or
permanent disability also resulting from any accident, accidental sum assured
is provided in smaller installments. The LIC Jeevan Anand policy
also entitles an individual for a surrender value. It provides an option to the
insured for an earlier termination for a surrender value. The features and
advantages presented by this plan make an attractive option for an individual
as it serves two purposes at one time. It serves investment purpose and also
fulfills insurance motives of an individual.
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