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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