LIC Jeevan Anand
LIC Jeevan Anand Plan is a participating non-linked plan which offers an attractive combination of protection and savings. This combination provides financial protection against death throughout the lifetime of the policyholder with the provision of payment of lumpsum at the end of the selected policy term in case of his/her survival.
Key Features of LIC Jeevan Anand
LIC Jeevan Anand covers the life of the policy holder and also helps the person to save regularly over a specific period of time. This is also known as an endowment policy. If he survives the policy term, he is paid the sum assured along with bonuses.
After Maturity settlement, the insured person does not have to pay any further premiums, but the Risk is covered for rest of the life. If in the event of the insured person expiring during the policy term, the nominee is paid the Sum Assured along Bonus. This policy also provides an Accidental Death & Disability Benefit as an additional feature inbuilt in the plan.
So, in the event of death by accident, an additional amount equal to the sum assured is also added to the death claim amount. Cover for Critical illness benefit can be availed additionally. Other features of this plan are that being a Tax Saving insurance plan, the Premiums paid for the Jeevan Anand Policy can help you save Income Tax under 80 C and the Maturity amount is tax-exempt under sec 10( 10 D ).
If the insured survives till the end of the policy term and all premiums have been paid, a Maturity Benefit would be paid to the policyholder. Maturity benefit would be equal to the Sum Assured + Bonus Amounts which have been received throughout the policy term + any Final Addition Bonus if declared.
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Branch Location :
Richmond Circle, Residency Road, Bangalore – 25