LIC Jeevan Anand Policy is a life plan with some beneficiary features. It is a good combination of ‘endowment assurance’ and ‘whole life plans’. The LIC Jeevan Anand Policy renders financial security throughout lifetime even after death and assures the payment of lump sum money at the end of the life of the applicant’s survival.
There are many features of the LIC Jeevan Anand Policy.
- Anybody who wants to use the LIC Jeevan Anand Policy should choose from the policy’s duration which will decide for how long the premium is to be paid.
- The endowment comes to an end with the premium period getting over and policy holder will get back the money and the bonuses.
- If the policy is planned with the whole life feature and in that case if the policy holder dies the nominee will get the sum assured.
- If the policy holder wants to take any loan then after 3 years of paying the premium he/she can apply for the loan and get it against the surrender of the policy.
- The benefit of accident is available till the age of the policy holder turns 70.
- The policy holder can make the payments via Bank Ecs, salary, yearly payment, halfyearly, quarterly, monthly etc.
- The LIC Jeevan Anand Policy with its profit plan also takes part in the profits of the corporation life insurance business and renders the annual assured amount at the end of the financial year.
- The sum declared by the corporation’s business plan benefits this LIC plan.
- The final additional bonus is paid to the policy holder only when the policy is run for a certain period.