A unique combination of a whole life and endowment plan, ‘Jeevan Anand’ combines return with profit at the end of the term and lifelong insurance cover. It is suitable for people who wish to provide for their dependents, insured sums, limit the premium payment term to their earning period and at the same time provide for their old age.
Full sum along assured with Bonus and Final Additional Bonus (if any) is payable, on maturity. Policy does not cease and insurance cover continues till death even after that. Full sum along assured with the bonus is payable and policy ceases if death occurs within the term. Full sum assured is payable without bonus if death occurs any time after the term of the policy.
The policy holder has an option to choose Accident Benefit Rider during the term of the policy or up to the age of 70, whichever is earlier. In the event of unfortunate death due to accident when the policy is in force, an additional amount equal to accident benefit sum assured is paid along with the claim. (This Rider is available for a maximum sum assured of US $ 100,000 for an individual, inclusive of all the policies, held by him). In case of total and permanent disability arising as a result of an accident, all future premiums to the extent of sum assured equivalent to accident benefit sum assured are waived and an amount equal to accident benefit sum assured will be paid in equal monthly installment spread over of 10 years. If the policy becomes a claim before the expiry of said period of 10 years the disability benefit which have not fallen due will be paid along with the claim.