LIC Jeevan Anand Policy 2021 : Jeevan Anand Policy of Life Insurance Corporation of India (LIC) provides some essence to the investors. The LIC policy essentially offers two different bonuses at two different intervals, given that the investor invests in the scheme continuously. As per the protocol of the scheme, anyone who is 18 years of age or above can apply for it and start investing.
It also provides assured returns at the time of maturity. It is a non-linked plan that offers an attractive combination of protection and savings. LIC Jeevan Anand Policy In a nutshell, it provides a financial safety net against the death of the policyholder during the entire lifetime of the policyholder with the provision of a lump sum payment at the end of the selected policy term in case the policyholder survives. The scheme also caters to the liquidity needs through its loan facility.
LIC Jeevan Anand Policy
One of the better aspects of this plan is the premium term and policy term. That is, the premium has to be paid till the maturity of the policy. Investors also get a bonus for 15 years of continuous investment in the policy (Life Insurance Corporation of India). Now, turning to the coverage in the event of death, the nominees get a decent amount of returns to secure their future. As per the policy norms, the minimum sum assured in LIC scheme is Rs 1 lakh.
It is to be noted that investors can actually increase the final payout by increasing the Sum Assured against the policy. As it stands, the sum assured on death is 125 percent of the Basic Sum Assured or 10 times the annual premium. It also states that the death benefit shall not be less than 105 per cent of all premiums paid till the date of death. The premium also excludes service tax, additional premium and rider premium, if any.
LIC Jeevan Anand Policy
Investors in LIC Jeevan Anand Policy also get a wide range of other coverage benefits, which include insurance for accidental death, disability, term assurance and critical illness cover etc. Additionally, you can also choose how you want the payment, it can either be a lump sum amount or you can choose the route of monthly payment of returns.
The maximum age of entry that this policy will allow is 50 years of age. While the minimum policy term is 15 years, the maximum is 35 years. It should also be noted that the maximum maturity age for this policy is 75 years. However, there is no upper limit for the maximum Basic Sum Assured, so you have a lot of scope when it comes to taking the policy.
How to get more than Rs 10 lakh on maturity
Firstly, you need to invest an average of Rs 76 every day. If you as an investor opt for this policy at the age of 24 years at Rs 5 lakh, you will have to pay a premium of around Rs 26,815. This basically means that you have to pay around Rs 2,281 or Rs 76 per day on a monthly basis. Over the maturity period of the next 21 years, if you invest continuously, your amount will reach around Rs 563,705. Apart from this bonus which the policy gives you around Rs 10.33 lakh at the time of maturity.
LIC Jeevan Anand Policy Overall, it is a very useful plan to secure the future of yourself and your loved ones. Keep in mind that you need to be involved consistently for this policy to take full effect, but given that the premiums are so manageable it is quite possible at the end of the day.
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com
