Benefits of Jeevan Anand Policy
The Jeevan Anand policy is fundamentally a mixture of whole life coverage and also endowment assurance policy. This particular plan provides extensive financial protection following death. The premiums paid in Jeevan Anand are restricted to the chosen term and all the benefits are reimbursed on the maturity date. Further down are benefits of the Jeevan Anand policy.
1. Annual bonuses
As an endowment policy, policy holders get their returns in forms of annual bonuses. An extra final bonus can also be given if the insurance has been in existence for a specific minimum period. However, you should note that returns in Jeevan Anand are not guaranteed, but they are connected to the good performance of the program’s investment portfolio.
2. Accident benefits
In the case of demise by accident, policy holders can receive and extra sum that is assured up to RS500,000. In addition, if the policy holders suffer from permanent disability, caused by accidents, then the extra sum assured or SA is paid in installments. The accident benefits in Jeevan Anand are only accessible up to the age of 70 years.
3. Death benefits
When death happens in the policy term, the SA together with the vested bonus is paid. If, however, the death occurs after the policy term, an amount that is equal to the SA is paid upon death.
4. Survival benefits
The SA or sum assured together with all the vested bonuses are paid at the expiration of the endowment term. The Jeevan Anand policy also does not stop, with policy cover continuing until death.
There is no doubt that the Jeevan Anand policy provides some interesting features. However, these advantages are not free of charge as policy holders will require paying for the features through higher premiums. Those who are not in dire need of these extra features are thus advised to choose a plain endowment plan.