LIC Jeevan Anand Review
LIC Jeevan Anand is one of the best policy from LIC of India. This is great combination of endowment plan and a whole life plan. It provides financial protection against death throughout the lifetime of the life assured and in case of survival life insured gets Sum assured along with accrued bonus. Also the death cover continues till death.
This is a with profit plan hence the policy also participate in profits of the corporation’s life insurance business. Simple reversionary bonuses are declared per thousand Sum Assured annually at the end of each financial year and will be added as a guaranteed benefit. Although the bonus in Jeevan Anand may vary and depending upon the corporate experience, but sill it is can be analyze basis past experience.
Bonus in LIC Jeevan Anand
Below are the bonus shared by corporate in last three financial years 2009 - 10, 2010 - 11 and 2011 - 12:
Bonus Calculation
If Mr. XYZ has taken Jeevan Anand Plan for 10 years with SUM assured Rs. 5,00,000. Then the bonus in the year 2009-10 will be:
34 * (500000 / 1000) = Rs. 17,000
Similarly, it will be calculated for rest of the years.
Disclaimer: Above data has been taken from information available at http://www.licindia.in/publicdiscloser/ publically and is copy right of LIC of India.
This is best plan for people age between 24 to 40. Apart from maturity benefits and death benefits Jeevan Anand has one more significant benefit of accidental death benefit. In case of accidental death, life insured will get additional Sum Assured (subject to a limit of Rs.5 lakh) without paying extra premium till age of 70 years.