Jeevan Anand (Plan 715) is one of LIC’s most popular endowment policies. It combines savings and risk protection, offering financial security to your family and long-term wealth creation for policyholders.
Key Features:
- Combines long-term savings with life risk coverage up to 100 years, even after policy maturity.
- On maturity, you receive the Sum Assured along with Bonuses.
- Extended life risk cover continues until the age of 100, without further premiums after maturity.
- Participates in LIC’s profits, earning Simple Reversionary Bonuses and Final Additional Bonuses.
- Loans can be availed against the policy after paying premiums for a specified minimum period.
- Premiums paid and maturity benefits qualify for tax deductions under Section 80C and 10(10D) of the Income Tax Act, 1961.
Eligibility Criteria:
- Entry Age: Minimum 18 years, Maximum 50 years
- Policy Term: Minimum 15 years, Maximum 35 years
- Maximum Maturity Age: 75 years
- Minimum Basic Sum Assured: ₹1,00,000
- Maximum Basic Sum Assured: No limit
Benefits:
- Maturity Benefit
If the policyholder survives till the end of the policy term, the Sum Assured on Maturity, along with accrued bonuses, is payable. - Death Benefit
In case of death during the policy term, the nominee will receive the higher of 125% of the Basic Sum Assured or 7 times the annualized premium, plus accrued bonuses, if any. The Death Benefit will not be less than 105% of the total premiums paid. - Extended Coverage After Maturity
Risk coverage continues until age 100. In case of death during this period, the nominee receives the Basic Sum Assured.
Premium Payment Options:
Premiums can be paid monthly, quarterly, half-yearly, or yearly. The premium payment term is equal to the policy term chosen.
Bonuses:
Simple Reversionary Bonuses are added annually during the policy term, and a Final Additional Bonus may be payable at maturity or on death, if applicable.
Example Scenario:
Policyholder: Arjun
Age at Entry: 30 years
Policy Term: 20 years
Basic Sum Assured: ₹10,00,000
Annual Premium: ₹49,000 (approximate)
On maturity after 20 years, Arjun will receive ₹10,00,000 (Sum Assured), ₹5,00,000 (Bonuses), and ₹1,00,000 (Final Additional Bonus), totaling ₹16,00,000 (tax-free). If Arjun passes away during the term, the nominee will receive ₹12,50,000 plus bonuses. After maturity, the nominee will receive ₹10,00,000 if death occurs.
Loan Facility:
Loans can be availed against the policy after a minimum premium payment period (typically 3 years).
Exclusions:
If the policyholder commits suicide within 12 months of policy commencement or revival, limited premiums are refunded.
Why Choose Jeevan Anand?
Jeevan Anand provides lifetime risk coverage, systematic wealth creation through bonuses, and flexibility in choosing the policy term and premium mode. It offers the dual benefits of financial security and tax savings.
Contact Us to Get Started:
Call/WhatsApp: +91 7036557621
Email: info@nalgondalic1969.in
Visit: Jeevan Jyothi Buildings, Beside Court, Nalgonda, 508001
Let us help you secure your financial future today!