LIC has re-launched its “Jeevan Anand” plan, a participating non-linked plan which offers an attractive combination of protection and savings.
This product provides financial protection against death throughout the lifetime of the policyholder with a special feature wherein it offers cover for whole life even after payment of maturity amount.
The policy can be taken from age 18 years to 50 years with age of policyholder on policy maturity age not exceeding 75 years. The policyholder can choose policy term from minimum 15 years to maximum of 35 years. The minimum sum assured is Rs 1 lakh and in multiples of Rs 5,000.
The policy matures at the end of the chosen policy term and the surviving policyholder will get Basic Sum Assured along with Vested Simple Reversionary Bonus and Final Additional Bonus.
The sum assured on death during the term of the policy will be higher of 125 per cent of Basic Sum Assured or 10 times of annualised premium.