Jeevan Anand (Plan-149)
I am holding a LIC Jeevan Anand (Plan-149). The Commencement Date of this plan was 08/10/2008 and the premium paying term is 21 years (ending on 08/10/2029). It would be great if you could answer the following questions regarding this plan:
1) I have been paying Rs.10,486/- annually since 2008. If I exit the LIC plan 149 this year i.e. 2022 after paying the Oct.2022 premium this year, what is the total amount that I would get and under what heads will I get?
2) If I continue to pay the premium till my premium payment end date i.e. till 08/10/2029 will I get a life insurance coverage after this date? What is the total amount that I would get and under what heads will I get?
3) Before the maturity of the plan, if the policy holder expires, how much would his family get?
4) On the maturity of the plan, how much would his children get (as the policy holder would already have expires).
Dear Mr Gangster
Jeevan Anand is a good saving option and you should continue to pay regular premium .you will receive approx Rs 5 lakh on maturity and death cover of rs 2 lakh will continue . Your family will receive rs 2 lakh on death .
Now ypur answers
1. If you surrender now then you will receive approx rs 1 lakh as surrender value of paid premium and approx rs 60000 towards surrender value of accrued bonus . Which means , you will get approx rs 1.60 lakh.
2. If you continue to pay regular premium till 2029 then ypu will receive approx rs 2 lakh plus accrued bonus of rs 3 lakh .
Your cover of rs 2 lakh will continue .
3. If death happens then family will get rs 2 lalh plus accrued bonuses .
4. There will not be any payment , as point no 3 wpuld apply and policy will terminate.
Hope this clarifies