LIC Jeevan Anand
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| Launch Date | Table No. | UIN | Status |
| 17/1/2002 | 149 | 512N206V01 | Withdrawn |
About LIC Jeevan Anand
- LIC Jeevan Anand is an endowment plan offering bonuses on maturity
- A whole-life plan wherein the risk of death is covered till the insured is aged 99
- Flexible term of the policy allows planning for specific life-goals
- An additional benefit is provided on accidental death of the insured, till the age of 70 years.
How does LIC Jeevan Anand plan work?
Under this LIC Jeevan Anand plan, an individual pays regular premiums for a selected period. Once the premium paying term is complete, the individual receives (maturity benefit) lump sum payment along with the accrued bonus (Simple reversionary+ Final addition).
In-case the individual dies during the policy term then the nominee receives a lumpsum as death benefit which consists of sum assured and accumulated bonus. This death cover continues even after maturity benefit is paid, till the age of 99, wherein the original sum assured is paid to the nominee.
Also, an additional sum assured of accidental death benefit of upto Rs. 5 lakh is paid to the nominee, if and only if the insured is below 70 years. In case of permanent disability of the insured individual due to accident this additional Sum assured is payable in installments.
Consider,
Person’s age: 35 years
Premium paying term: 25 years
Premium: Rs. 4500/-
Sum assured: Rs 1 lakh
35 year old, buys a Jeevan Anand policy for 25 years (term) for a life cover of Rs. 1 lakh, for which pays a premium of Rs.4535/-.
- Scenario 1: The person dies after the 15 years of the policy (before the maturity term of 25 years), sum assured of Rs. 1 Lakh and accumulated bonus till 15th year is paid to the nominee and the plan terminate.
- Scenario 2: The person survives till the end of the policy term (25 years), the sum assured of Rs. 1 Lakh and the accumulated bonus till maturity (25 years) will be paid to him, post the payout, the sum assured of Rs. 1 Lakh will be continued till of age of 99 and in between whenever he dies, sum assured will be paid to the nominee.
Riders & Add Ons
The Add Ons available with this plan are as follows:-
Accidental Death Benefit(In built):- An additional Sum Assured (subject to a limit of Rs.5 lakh) is paid if death is due to accident till 70 years of age.
Accidental Disability Benefit Rider(In Built):- An additional Sum Assured (subject to a limit of Rs.5 lakh) is paid if death is due to accident till 70 years of age.
Critical Illness(optional):- Provides payment of an additional amount on diagnosis of any of the 10 critical conditions specified.
COMPARE & BUY SIMILAR PLANS
Bonus History
Company Name : Life Insurance Corporation of India
Plan Name : Jeevan Anand
| BonusYear | RevBonus | MinPT | MaxPT | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 2007 | 3.40% | 5 | ||||||||
| 2007 | 3.40% | 6 | 10 | |||||||
| 2007 | 3.70% | 11 | 15 | |||||||
| 2007 | 4.10% | 16 | 20 | |||||||
| 2007 | 4.50% | >20 | ||||||||
| 2005 | 3.00% | 5 | ||||||||
| 2005 | 3.40% | 6 | 10 | |||||||
| 2005 | 3.80% | 11 | 15 | |||||||
| 2005 | 4.30% | 16 | 20 | |||||||
| 2005 | 4.70% | >20 |
Bonus explained: For a sum assured of Rs. 100000/-, if the bonus declared is 4.2% or Rs 42/- per thousand, then the amount of Rs 4200/- gets accumulated into the policy for that year.
Company Overview
Life Insurance Corporation is an Indian state-owned insurance group and investment company headquartered in Mumbai. It is the largest insurance company in India with an estimated asset value of Rs.1560482 crore
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