I started Jeevan Anand Policy plan in July 2013, quarterly premium is ₹5,970 for a 15 years and the sum assured is ₹3 lakh. I have some questions regarding the policy
1. Is it good policy?
2. Shall I continue with it?
3. If I stop it after three years, how much will I get at the time completion of 15 years?
4. If I am continuing with the policy, how much willI get, including bonus, at the time of 15 years?
- Prasad
LIC Jeevan Anand is a combination of Endowment Assurance and Whole Life plan which cover you against death throughout lifetime with a provision of paying a lump sum amount on survival, at the end of chosen term. You may read about LIC Jeevan Anand policy here:
Costly Life Insurance Policy
Consider Surrendering your LIC Jeevan Anand Policy
Insurer pays bonus under this policy at its own discretion. Rate of bonus is not know. So, we cannot tell you how much you will receive after 15 years. We only know the historical bonus rates; it is in the above links. We recommend you to surrender this policy and buy a plain term plan for an adequate sum and invest in mutual funds based on your investment horizon and risk appetite.
This article was originally published on January 12, 2016.
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