Whole Life Risk Cover.

LIC Jeevan Anand provides the coverage option of both the endowment plan as well as whole life policy along with bonus facility. This plan provides the double death benefit if the insured person survives till the end of the policyterm. This plan has high bonus rate, great liquidity features and average premiums.

Features of this plan -

1. This plan is the combination of endowment whole life plan. 

2. Maturity Benefit is Sum Assured + increase Bonus and the Life Cover continues till death 

3. Large Sum Assured refund is also provided. 

4. Optional cover through 1 additional rider of serious Illness Benefit. 

5. Simple Reversionary Bonus is payable on earlier death. 

6. Death Benefit after PolicyMaturity is only Sum Assured 

7. Death Benefit before Policy Maturity is Sum Assured + Bonus 

8. This plan can be provided to people with risky occupation with additional      premium. 

9. Accidental Death and Disability Benefit is an inherent feature in this plan

Death Benefit – 

Beneficiary can get death benefit in two ways: 

1. Before the end of the Policy Term, insurance company provides the Sum Assured + Bonus to the beneficiary. 

2. After the Policy Term, Sum Assured is paid to the nominee as Death Benefit whenever the policy holder dies. Maturity Benefit – Insured person will get the sum assured + bonus + additional bonus at the maturity of the policy. Income Tax Benefit – Premiums paid under Life Insurance plan are tax free under Section 80 C.