Life insurance provides the best way for securing your investment by offering various plans. One such plan is LIC’s Jeevan Anand, which is a unique plan that provides flexibility of unit linked plans. Jeevan Anand policy is the combination of whole life policy and endowment insurance policy that provides the per-decided S.A. and bonus at the end of the stipulated PPT, but the risk cover on the life continues till death. This plan is applicable for all ages and social groups. Jeevan Anand offers financial protection against death during the life time of the life assured. Jeevan Anand policy offers tax savings as per income tax rule are applicable. This policy also provides some supplementary benefits which can add to your basic plan.  

LIC’s Jeevan Anand offers Tax Benefit under which premiums are paid by the insured person if he/she is eligible for tax benefit under section 80C and 10(D) of Income Tax Act 1961.

Features of Jeevan Anand Plan:

 1. Jeevan Anand plan offers Simple Reversionary Bonuses which are declared per thousand Sum Assured annually at the end of each financial year.  Once declared, they form part of the guaranteed advantages of the plan.

2. Bonuses will be added during the selected term or till death, if it occurs earlier. Additional Bonus may also be allocated offered the policy has run for certain minimum period.

3. Jeevan Anand plan provide sum assured along with vested bonuses that will be payable in a lump sum on death during the survival at the end of the term.
4. This policy provides moderate premiums, high or large bonus, high liquidity and is saving oriented.
Benefits of Jeevan Anand Plan:

Death Benefit: In this advantage the Sum Assured plus vested bonuses is payable on the death of nominee in a lump sum.

Survival Benefit: Jeevan Anand offers Sum Assured plus vested bonuses is payable on the death of nominee in a lump sum plus an extra sum assured will be allocated.

Accident benefit: An additional Sum Assured (subject to a limit of Rs.5 lakh) is payable in a lump sum on death due to accident up to age 70 of life assured. In case of permanent disability of the life assured due to accident this additional Sum assured is allocated in installments.
Supplementary Benefit: This is other possible benefit that can be adjoined to your basic plan, it requires a supplementary premium.
Jeevan Anand provides a unique surrender value, which will be paid by company which is either equal to or more than Guaranteed Surrender value. In case of death or maturity the profit allocated on surrender reflects the discounted value at the time of claim amount. The surrender value allocated may be fewer than the overall premium paid, if the policy will be terminated at an early stage. This policy also provides guaranteed surrender value up to 30 per cent of the total premium paid, excluding first-year premium and other riders’ premium after 3 policy years.

This article is about Jeevan Anand LIC Policy and LIC Jeevan Anand Returns