Plan Features
Jeevan Anand plan is the combination of whole life policy and endowment insurance policy. The plan provides the pre-decided Sum Assured and bonus at the end of PPT (policy paying term), but the risk cover on the life continues till death. This policy is suitable for the people of all ages and social groups. The policyholder will be benefited by giving protection to their families from a financial setback that may occur owing to their demise The amount assured if not paid by reason of his death earlier will be payable at the end of the endowment term where it can be invested in an annuity provision for the rest of the policyholder's of this plan is moderate premiums, high liquidity, saving oriented.
Premiums are usually payable for the selected term of years or until death if it occurs during the term period. Accident benefit is available during engaged in hazardous occupations attracting occupational extra.
Premiums are usually payable for the selected term of years or until death if it occurs during the term period. Accident benefit is available during engaged in hazardous occupations attracting occupational extra.
Plan Parameters
Minimum Age at Entry: 18 yrs
Maximum Age at Entry: 65 yrs
Minimum Premium paying Term: 5 yrs
Maximum Premium Paying Term: 57 yrs
Minimum Sum Assured: 1,00,000
Maximum Sum Assured: No Limit
Maximum Age at Entry: 65 yrs
Minimum Premium paying Term: 5 yrs
Maximum Premium Paying Term: 57 yrs
Minimum Sum Assured: 1,00,000
Maximum Sum Assured: No Limit
Examples
Mr. Sharad Pawar 25 years, select jeevan anand policy for 20 years with S.A. Rs.1 Lac. He has to pay annual premium of Rs.5490/- on maturity, Mr. Sharad Pawar will get Rs.1,98,000/- (S.A. + Bonus as per 2005 rates i.e. Rs.43 per thousand per annum which become 43 x 100 x 20 = 86,000/-). Even after the premium paying term is over, risk cover continues till the death of Mr. Sharad Pawar.
But if, Mr. Sharad Pawar dies at the age of 65 years his nominee will get an additional amount equal to the S.A. i. e. Rs.1 Lac in cash, Mr. Sharad Pawar dies during premium paying term his nominee will receive Rs. 1Lac + accumulated Bonus.
But if, Mr. Sharad Pawar dies at the age of 65 years his nominee will get an additional amount equal to the S.A. i. e. Rs.1 Lac in cash, Mr. Sharad Pawar dies during premium paying term his nominee will receive Rs. 1Lac + accumulated Bonus.