Jeevan Anand is a product having a combination of endowment & whole life. At the end of the 20th year you would get around 10 lakhs i.e. sum assured 5 lakhs plus 5 lakhs of bonus ( my assessment). The policy would not end there but you would continue to hv a death risk coverage of 5 lakhs without any premium till age 100. That means a guaranteed death claim benefit is there for family. There is also a provision of surredering this death claim benefit after a ceryain age perhaps 75 years. If you do so you may get more than 2.5 lakhs or so. Would not advise to surrender / break the policy . It is a good policy.

Dear Vimal

Answers to your question regarding LIC Jeevan Anand (Plan 149)

1. If you exit now , you shall receive surrender value which will be almost 60 % of paid premium and accrued bonus till date. No You shall not receive your paid premium .

2. In case of death , your nominee would receive Rs 5 lakh plus accrued bonus .

3. Yes , you will have cover of Rs 5 lakh for full life and your nominee will receive onky Rs 5 lalh .

Hope this clarify . I recommrnd you to pay regular premium, take approx rs 10 lakh in 2031 and your nominee will get td 5 lakh on death after maturity.

Hope this clarify

Shailesh

Dear Vimal

Refer your comments , answers are given below :

1. Yes , each participating policy has a guaranteed surrender value which keep increasing with payment of premium . As you have paid 10 yearly premium hence guaranteed surrender value will be approx 60% of paid premium . Same formula would also apply with accrued bonuses , you will have approx Rs 1.20 lakh accrued bonus and you will receive 60% of accrued bonus . There is a SV factor which applies to accrued bonus .
2. So you will not receive full accrued bonus but a percentage of accrued bonus calculated as per SV factor .
3. It will not be taxable .
4. No , death claim will not be applicable as you are terminating the contract premature .
5. Let us say the premium is Rs 100 and you paid for 3 year then guaranteed surrender value after 3 year is 30% of Rs 200 i.e Rs 60 . So you pay Rs 300 and you get Rs 60 plus surrender value of accrued bonuses . Now all new policies generate surrender value after two year .

Hope this clarifies

Shailesh

Insurance Samadhan

Dear Vimal

Yes , if you continue plan and take maturity then you shall have a whole life cover of Rs 5 lakh which means your nominee will receive an LIC Jeevan Anand (Plan-149) maturity amount of ₹Rs 5 lakh, whenever death happens post maturity .

Hope this clarifies , now

Shailesh