LIC Jeevan Anand Life Insurance Policy (Table: 149)

Features of Jeevan Anand Life Insurance Policy: This is a combination policy of endowment and whole life policy. This policy gives the pre-decided S.A and bonus to the insured at the of the stipulated PPT but the policyholder enjoys the insurance throughout his life. This policy is good for any age group.

Newly Launched Policies of LIC 

  • Jeevan Vridhi by LIC.
  • Jeevan Ankur Child Education Plan by LIC.
  • Jeevan Vaibhav by LIC.
  • Jeevan Saral by LIC.

Parameters of Jeevan Anand Policy

Age Limit 18 years to 65 years
Age Limit of PPT Maturity Maximum 75 years
Sum Assured amount Minimum 1,00,000 to without limit
Sum Assured in Multiples 5,000
Term 5 years to 57 years
Policy Loan Yes
Assignment Yes
Accidental benefit Including T.P.
Housing Loan Yes
Surrender of Policy Yes
Revival Yes
Term rider Yes

Conditions for Underwriting

Form No. 300 (rev.)
Female lives category I/II/III
Age Proof Standard NSAP – 1,2,3
Non-medical (Special) Allowed
Non-medical (Gen) Allowed
Non-medical (Prof) Allowed
Dating back @ 8% Allowed
Actual sum assured Basic SA
Risk Coverage SA plus Bonus

Benefits of the Policy

The insured will get the maturity benefit including sum assured, bonus, and FAB if the insured is at the end of the PPT.

Death benefits of the Policy

If the insured dies during PPT then he will get Sum assured and bonus but premium payment will be waived off. If the death occurs after PPT, an extra amount equals to sum assured will be paid. Whereas the bonus will not be paid if death occurs after PPT.

Accidental benefit

During PPT the double accidental benefit will be paid to the insured. The premium for this has been buit into a tabular premium rate thereafter up to 70+ age.

For example  – Mr. Ramesh aged 25 years, applied for Jeevan Anand Policy for 20 years with sum assured of Rs. 1 Lacs with Rs. 5,490 as an annual premium. He will get Rs. 1,98,000 on maturity and risk cover continues till death even after PPT is over.

If Mr. Ramesh dies unfortunately at 65 years of his age then the nominee will be paid an extra amount equals to sum assured but if he dies during PPT then the nominee will be paid accumulated bonus along with extra amount equals to sum assured.

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