LIC New Jeevan Anand Policy is a participating Whole Life Endowment Plan with various advantages. As the name suggests, this whole life endowment plan continues to provide coverage till the death of the insured even after the maturity of the plan. This makes Jeevan Anand a perfect blend of an endowment plan and a whole life plan.
LIC New Jeevan Anand Policy :
If you are searching for an endowment plan that provides the advantages of an entire life policy then LIC New Jeevan Anand Policy is one of the best choices to go for. The Jeevan Anand policy offers bonus facility. This is a sort of Double Death Benefit Plan that guarantees developed advantages if the insured person survives till the end of the maturity date. This arrangement involves high reward rate, normal premium and even phenomenal liquidity features.
Exploring into the points of interest of LIC New Jeevan Anand Policy, you will know how the terms and condition of policy advantage you over the long run. As indicated by this plan, the protected individual gets the aggregate amount and in addition the reward that comes as maturity benefit, however it ought to be recollected that the life cover picked is legitimate till the demise of the insured. The additional assured sum is paid when the life insured individual dies. In this manner, it clarifies why the LIC Jeevan Anand Policy is both an endowment plan and a whole life plan.
LIC New Jeevan Anand – Key Features :
- LIC Jeevan Anand is a traditional participating whole life endowment plan.
- The plan provides an option of regular premium payment to the insured.
- On survival till the end of the plan term, the benefit on maturity is paid to the insurance holder and the plan continues to be in force.
- Death Benefit: In a case of the death of the insured, the assured sum is paid to his entitled nominee.
- Added top up covers as riders available on payment of a nominal premium amount.
- The plan also offers tax exemption on the premium paid and claim settlement under section 80C and 10(10D) of Income Tax Act.
Also Read : LIC Jeevan Amar Policy
Benefits of LIC New Jeevan Anand Policy :
- Listed below are the important benefits and advantages of LIC’s New Jeevan Anand policy.
- The policy offers the double benefit of financial protection in case of death of the policyholder and savings.
- Death benefit- Sum assured on death along with reversionary bonus and final additional bonus(if any) will be paid as death benefit to the nominee in case of unfortunate death of the policyholder.
- Maturity benefit- The plan qualifies for Maturity benefit which will be paid at the end of policy term considering all the premiums have been paid in full. Sum assured along with reversionary bonus and final additional bonus will be paid as maturity benefit.
- Convenience- The plan can be purchased online with no hassles.
- Flexibility-The plan offers the flexibility of paying premiums monthly, quarterly, biannually or annually depending on what the customer is comfortable with.
Important Link :
Documents Required :
The documents required to be insured under this insurance plan are subject to the sum assured amount chosen and the premiums paid for it. Below are some of the basic documents required for getting insured by the LIC policies:
- Correctly filled Application form/Proposal form
- Address Proof
- Age Proof
- Other KYC documents: PAN Card, Adhaar Card, Tax Details etc
- Medical History
- Medical Diagnosis Reports as required