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  • LIC Jeevan Anand Plan

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    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    LIC Jeevan Anand is a life endowment plan that comes with a multitude of benefits for the policyholders throughout the term period. As per the plan, the insurance cover continues even after completion of the premium payment term. In the event of death of an individual due to an accident, the plan offers an additional cover sum which is capped at Rs.5 lakhs. But in case the accident leaves a policyholder with permanent disability, the plan takes care of the regular financial needs by paying the sum assured in installments. These additional benefits offered under LIC Jeevan Anand do not impose extra charges on the premium amount.

    Prime features of LIC Jeevan Anand:

    • It’s a traditional endowment policy which offers sum assured and additional bonuses
    • On survival, the maturity benefits are paid to the policyholder and the plan continues to be in force
    • In the event of policyholder’s death, the sum assured is paid to the nominee
    • Additional top-up covers are available on payment of a nominal sum along with premium
    • This Life Insurance Policy Provides financial protection throughout the lifetime of the person insured
    • Offers a lump sum at the end of the chosen term period
    • The policy participates in the profits of the corporation

    Table of Features:

    Minimum entry age 18 years
    Maximum entry age 50 years
    Premium payment modes Yearly, Half-Yearly, Quarterly, Monthly (only through ECS)
    Policy term 15 to 35 years
    Basic sum assured Rs.1,00,000
    Revival Within 2 years
    Rebate
    • 2% for yearly
    • 1% for half-yearly
    • None for quarterly
    Loan eligibility After 3 years of entry
    Surrender Eligible only after 3 years of full premium payments
    Bonuses Simple reversionary bonuses plus additional bonuses
    Death benefit
    • Sum assured and accrued bonuses are paid to the nominee.
    • The plan continues to be in force
    Maturity benefits
    • Payable to policyholder after the maturity period
    • Includes basic sum assured and bonuses accrued from time to time
    Sum assured on death The sum assured on death of the policyholder is:
    • 125% of the basic sum assured
    • 10 times the annualized premium subject to a minimum of 105% of the total premiums paid
    Riders
    • LIC’s Accidental Death Benefit Rider
    • Disability Benefit Rider
    Premium discounts Available on higher sum assured and yearly and half-yearly premiums
    Tax benefits Available under Section 80C and Section 10 (10 D) of the Income Tax Act
    Switching of policy Not allowed

    Documents Required for Jeevan Anand Policy:

    A duly filled form along with the following documents are to be submitted at the time of application:

    • Proof of residence
    • Age proof
    • KYC documents such as copy of Aadhaar card, PAN card, etc.
    • Medical test reports
    • Other necessary documents specified by LIC

    Documents Required for Making Death Claims:

    To make a death claim, the nominee shall have to produce the following documents along with the claim form:

    • Original policy documents
    • Documents pertaining to riders
    • Bank account details
    • Death certificate
    • Treatment records of the policyholder (if any)

    Illustration of Benefits:

    Let’s consider the following details for illustration of how the Jeevan Anand policy works:

    Age of the policyholder: 25 years

    Policy Term: 25 years

    Yearly Premium: Rs.21,472

    Total Premium Paid: Rs.5,36,800

    Year of purchase: 2014

    Scenario 1:

    Let’s assume that the policyholder survives the policy term, in which case the benefits will be paid as under:

    Year of maturity 2039
    Age at maturity 50 years
    Sum Assured Rs.5,00,000
    Bonus additions Rs.8,00,000 (approx.)
    Total amount payable Rs.13,00,000

    Scenario 2:

    If the individual expires before completion of the policy term, his nominee will be eligible for 125% of the Sum Assured, reversionary bonuses, and final additional bonuses. If the individual dies due to an accident, then additional benefits equal to the minimum sum assured is added to the claim amount. The below table illustrates the approximate values of sum assured and associated accidental life cover:

    Year of Premium Payment Total Premiums Paid Life Cover (approx) Accidental Cover (approx)
    1st year Rs.21,472 Rs.6,10,000 Rs.11,30,000
    5th year Rs.1,07,360 Rs.7,50,000 Rs.12,60,000
    10th year Rs.2,14,720 Rs.9,00,000 Rs.14,00,000
    15th year Rs.3,22,080 Rs.10,52,000 Rs.15,50,000
    20th year Rs.4,29,440 Rs.12,63,125 Rs.17,70,000
    25th year Rs.5,36,800 Rs.15,80,000 Rs.20,00,000

    Free Look Period:

    The look in period is a provision whereby customers can cancel the policy within a specific time after its purchase. Jeevan Anand policy provides a free look period of 15 days, provided no claims have been made by the policyholder.

    Surrender Benefits:

    The policy attains its surrender value only after completion of 3 full premium years. The amount paid to the policyholder while surrendering the policy will be a percentage of the total premiums paid, and it will be exclusive of the premiums for riders. However, the guaranteed surrender value will be inclusive of simple reversionary bonuses.

    Grace Period:

    The policy allows a grace period of 30 days for payment of outstanding premium amount, after which the policy will lapse. But it can be revived within 2 years from the date of last unpaid premium by clearing all dues and applicable penalty charges.

    Exclusions:

    If the policyholder commits suicide within 12 months of commencement of the plan, then LIC is not liable to pay any of the assured benefits. But the nominees will be paid a sum equal to 80% of the premiums paid. In case policyholder commits suicide after completion of 1 year from the date of policy inception, then the beneficiary will receive a sum higher than 80% of the premiums paid.

    GST of 18% is applicable on life insurance effective from the 1st of July, 2017

    This Insurance Company has not partnered with BankBazaar.com. For more details, please visit its website/branch office. The trademarks, logos and other subject matters of intellectual property belong to their respective owners.

    LIC Jeevan Anand Reviews

  • Page 1 of 50 1 2 3 4 5
    • LIC Life Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      My life is insured with LIC from last 12 years and it is s long term policy. The name of the policy is Jeevan anand and the tenure period for this policy. I pay my premium once in 3 months through net banking and the maturity period for this policy is 16 years.
      Was this review helpful? 2
      , pune
      Reviewed on Sep 12, 2018
    • LIC Life Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      I took life insurance jeevan Anand policy from life corporation of India . It has good benefits with good premium amount . I make the payment monthly through online payment . It has good returns based on that i have chosen this Overall am satisfied with my policy. This policy covers accidental and critical illness benefits .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 05, 2018
    • LIC Life Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have my life insured with LIC from last 4 years and it is a money back policy. I get money back after every 3 years in this policy. I pay my premium once in 6 months through net banking and i am convenient with payment options. The name of this policy is Jeevan anand and i get good returns and benefits. The tenure period for this policy is 20 years.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 05, 2018
    • LIC Life Insurance
      "Best Policy"
      0.5 5.0/5 "Blown Away!"
      I have taken Jeevan anand policy from life insurance corporation of India . I pay half yearly the premium amount with tenure period of 12 years . This policy covers benefits like accidental benefits and critical illness benefits too. Overall am satisfied with my policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 04, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have life insurance policy with LIC from last 4 years and it is a long term policy. I am happy with the returns and benefits of this policy. I pay my premium once in 6 months through net banking and i am convenient with the payment options. The name of the policy is Jeevan anand and the tenure period is 20 years.
      Was this review helpful? 0
      , new delhi
      Reviewed on Aug 30, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have life insurance policy with LIC from last 3.5 years and it is a long term policy. I am happy with the returns and benefits of this policy. I pay my premium once in 3 months by cash and i am convenient with the payment options. The name of the policy is Jeevan anand and the tenure period is 20 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 30, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with LIC from last 4 years and it is a long term policy. The name of this policy is Jeevan anand and the tenure period for this life insurance policy is 20 years. I pay my premium on yearly basis by cash and returns are very good in this policy.
      Was this review helpful? 1
      , bangalore
      Reviewed on Aug 27, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I hold a life insurance policy with LIC from last 3 years, and it is a long term policy. The name of the insurance policy is Jeevan Anand. I pay my premium once in a year the amount is auto debited. I am happy with the returns and benefits of LIC insurance policy.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Aug 27, 2018
    • LIC Life Insurance
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken this Jeevan Anand policy on the month of January 2018 and the process in taking the policy had been simple. I had been making the payments on monthly ECS and had been making the payments online. I went to chose it since because of the policy coverage and the plan benefits and there has not been any hassle faced.
      Was this review helpful? 0
      , pune
      Reviewed on Aug 27, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with LIC from last 3 years and it is a long term policy. The name of this policy is Jeevan anand and the tenure period for this life insurance policy is 20 years. I pay my premium once in 3 months by cheque and i am convenient with payment options.
      Was this review helpful? 1
      , bangalore
      Reviewed on Aug 27, 2018
    • LIC Life Insurance
      "Best Policy"
      0.5 5.0/5 "Blown Away!"
      I took life insurance jeevan Anand policy from Lic insurance company mainly because of the good returns, its 15 years of tenure period , the payment am doing through online monthly . There customer service and customer response is good .This policy covers accidental and critical illness coverage .
      Was this review helpful? 2
      , ahmedabad
      Reviewed on Aug 25, 2018
    • LIC Life Insurance
      "Best Policy"
      0.5 5.0/5 "Blown Away!"
      I have taken Jeevan anand policy from the life insurance corporation of India . It has coverage of accidental and critical illness benefits . Am satisfied with the premium amount which am making yearly , I make the payment through online banking . I have chosen this policy based on the benefits and features . Overall am satisfied with this policy .
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 22, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with LIC from last 2 years and it is a long term policy. The name of this policy is Jeevan anand and the tenure period for this life insurance policy is 20 years. I pay my premium on yearly basis by net banking. I am happy with the returns and benefits of this policy.
      Was this review helpful? 0
      , new delhi
      Reviewed on Aug 21, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with LIC from last 10-11 months and it is a long term policy. The name of the policy is Jeevan anand so i pay my premium once in 3 months through online and i am convenient with the payment options. The tenure period for this policy is 15 years.
      Was this review helpful? 1
      , chennai
      Reviewed on Aug 17, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      My life is insured with LIC from last 2 years and it is a long term policy. The name of the policy is jeevan anand and the maturity period for this policy is 20 years. I pay my premium once in a year through net banking and i am convenient with the payment options.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 17, 2018
    • LIC Life Insurance
      "Best Policy"
      0.5 5.0/5 "Blown Away!"
      I have taken jeevan anand policy form Life insurance corporation of India . Its been 5 years am making the payment through their office every half yearly. I have chosen this policy based on the good returns after certain years . This policy has 20 years of tenure period with coverage of 55 years.
      Was this review helpful? 1
      , bangalore
      Reviewed on Aug 13, 2018
    • LIC Life Insurance
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      My life insurance is with LIC. The customer services are good, they send me messages about my payments. I have taken a Jeevan Anand policy. The tenure is for 15 years, and after the maturity term there is a coverage for life long. I can pay my premium online. The message I get for the payment has a link and through that link I can pay my premium.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 11, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have life insurance policy with LIC from last 10 years and it is a long term policy. I am happy with the returns and benefits of this policy. I pay my premium once in 3 months and i am convenient with the payment options. The name of the policy is Jeevan anand and the tenure period is 25 years.
      Was this review helpful? 1
      , chennai
      Reviewed on Aug 11, 2018
    • LIC Life Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have a life insurance policy with LIC from last 9 years and it is a long term policy. The name of this policy is Jeevan anand and the tenure period for this life insurance policy is 20 years. Website is very good and i make my premium through ECS.
      Was this review helpful? 2
      , coimbatore
      Reviewed on Aug 06, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with LIC from last 3 years and it is a long term policy. The name of the policy is Jeevan anand. I pay my premium once in 3 months for Rs 18000 by ECS and the payment options are convenient for me. The maturity period for this policy is 20 years.
      Was this review helpful? 0
      , lucknow
      Reviewed on Jul 31, 2018
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