Jeevan Anand Table No. 149

'JEEVAN ANAND' a with Profit Assurance Plan. Basically, the plan is a combination of the Whole Life Plan and the most Popular Endowment Assurance Plan. The plan provides the pre-decided Sum cover on the life continues till death.

Under this plan you pay premiums for a limited period. During the premium paying term you are covered to the extent of the sum assured and the bonuses that vest on this  policy. After the premium term is over the sum assured together with accumulated  bonuses and final additional bonus (if any) become payable to you free of any income tax. 

General Terms of this Plan

Minimum Age At Entry	18 years completed
Maximum Age At Entry	65 years (Age Nearer Birthday)
Maximum Premium Ceasing Age	75 years (Age Nearer Birthday)
Premium Paying Term	5 years to 57 years
Minimum Sum Assured	Rs. 1,00,000
Maximum Sum Assured	No Limit
Double Accident Benefit	Exclusively available upto Rs.5,00,000 during the Premium paying term and thereafter upto age 70. No additional premium is required to be paid
Loans	Available after payment of 3 full years premiums

Salient Features

• The plan combines the virtues of both whole life plan and endowment plan.
• Under the plan, premiums are limited to the term chosen and benefits are payable on the date of maturity. But the insurance cover on the life assured continues till death, like a whole life policy.
• Bonus accrues during the premium paying term and is payable at the end of the premium paying term or on earlier death along with Final Additional Bonus. No Bonus is paid on death after the premium paying term.
• Double Accident Benefit is available during the premium paying term and thereafter up to age 70 where in additional sum assured is payable on death due to an accident. This benefit is built in and no additional premiums needs to be paid. Maximum Accident Cover available under this plan will be Rs. 5,00,000/- (this limit excludes accident benefit taken under other plans).
• Loans will be granted against the surrender value of the policy after payment of premiums for at least 3 years. Interest on such loans will be fixed by the corporation from time to time.

Benefits

• Survival Benefits: Sum Assured along with all vested bonus payable at the end of the premium paying term (Endowment term). Policy does not cease and insurance cover continues till death.
• Death Benefits:
• On death with in the term: Sum Assured along with vested bonus payable on death during the premium paying term.
• On death after the term of the policy: An amount equal to the Sum Assured is payable on death after the premium paying term
• Bonus: Simple Reversionary Bonus accures during the premium paying term and is payable at the end of the premiumpaying term or on earlier death along with Final Additional Bonus, if any. No Bonus is paid on death after premium paying term.
• Accident Benefits: The double Accident Benefit is available during the premium paying term and thereafter upto age 70. The premium for this has been build into the tabular premium rates, Maximum Accent Cover available under this plan will be Rs.5,00,000/-(this limit excludes accident benefit taken uder other plans.)

Restrictions

• Minimum Sum Assured : Rs.1,00,000/-
• Minimum premium must be Rs.800/- per annum
• Minimum age at entry :18 years (completed)
• Premium Paying term : 5 years to 57 years
• Maximum age at entry : 65 years normally but 60 years for single premium policy.