The Jeevan Anand plan has been one of the most successful policies issued by the company. The company recently rolled out the New Jeevan Anand policy which is a participating non-linked plan. The plan offers an attractive combination of protection and savings. The standard loan facility is also available on the policy. At the end of the policy term, the holder is entitled to Basic Sum Assured, plus Simple Reversionary Bonuses and Final Additional Bonus that have vested in the policy. The policy holder can avail the optional benefit of LIC's Accidental Death and Disability Benefit Rider. The risk cover under Jeevan Anand continues for life even after the maturity of the plan. The plan term can be choosen from 15 years to 35 years.
Premium paid towards any of the aforementioned plans qualifies for savings rebate under Section 80C of the Income-tax Act. The policy holder thus also saves tax in addition to safeguarding the future interests of the family.
As an illustration, Mr Smart, aged 30, takes the New Jeevan Anand policy with BSA of Rs. 25,00,000 and policy term of 35 years. The annualized premium amounts to Rs.74,135/-. If all premiums are paid, Mr Smart will have dished out Rs.26,54,773 and would receive Rs.1,22,75,000 (BSA+Bonus+Final Addition Bonus) at the time of maturity. After the maturity Mr. Smart's risk cover of Rs.25,00,000 would continue till 100 years and whenever death happens, the nominee will receive Rs.25,00,000.
In case of any clarification, information or buy LIC Jeevan Anand Plan, please contact us at +91-9230091000.