New Jeevan Anand Plan Details
This plan is the perfect combination of the whole life insurance cover and endowment plan. The insured will not only get the maturity amount on term completion, they will also get full life risk cover. The basic benefits that entail to the policyholder under this policy are:
- Maturity benefit: the maturity benefit is paid after the term is completed and that all the premiums are paid in full. On maturity, the benefit includes the basic assured sum, added with the additional benefits.
- Death benefit: death benefit is of two types in this policy. One is the death benefit that is paid in case of death of the policyholder during the policy term. And the other one is paid after the term plan is completed and is paid under the risk coverage.
- Death benefit during the policy term: in case of death of the holder during the policy term, the nominee is paid the sum assured on death plus the additional benefits and reversionary benefits. The death sum assured should be 125% higher than the basic sum assured and should also be 105 percent of the total paid premiums till the very date.
- The death benefit under risk cover: in case of death of the policyholder after the policy has matured, the nominee will get a basic sum that is assured under the policy.
- Accidental death and disability benefit: this is an additional and optional benefit, for which the insured will have to pay an extra premium. After the death of the policyholder during the term due to an accident, the accidental sum assured during death will be paid. In case of any permanent disability, the accidental disability sum will be paid in installments.