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Will life cover continue if I Make LIC Jeevan Anand Policy paid up

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08 Sep, 2023 by  prafulla sangle

If I make my LIC Jeevan Anand policy paid up (I.e. I will stop paying future premiums but will take money from LIC when premium term is over) ,

Will my Insurance cover of 5 Lakh will continue till Age of 100 years

Term Life Insurance

1 Answer

26 Sep, 2023
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In an endowment policy, the paid up essentially means - Reduced sum assured. So when you make your policy paid up, your Sum Assured is reduced to the extent of No. of premiums paid against the total number of premiums payable multiplied by original sum assured.

Reduced Sum assured = (No. of premiums paid / total number of premiums payable) X the original sum assured

Once the revised sum assured comes in force after paid up, that cover would be applicable throughout the rest of the policy duration.

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