LIC New Jeevan Anand is one of the utmost sold endowment
plans of LIC, which offers Risk Cover even after the maturity up to 100 years
of age. But, is it really nice because your insurance agent tried to sell it
for you, or your co-worker suggested you to go for it, or just because you want
to take an insurance policy? Whom is this policy actually for? When is the
right time to purchase it?
Insurance is for everyone who earns. But, it is not
something which is to be purchased thoughtlessly without any preceding
research. People always get mixed up with which insurance they must go
for when they compare between Term Insurance & other insurance products. It
is at all times suggested to go for Term Insurance as it is the “real form” of
People buy Money Back plans and other savings plans to
multiply their money with the time. But, in case the bread winner of the family
expires, there would be a huge financial burden on the family. So a term
insurance is the only insurance which is intended to give that vital “emergency
fund” to that family.
In case you already hold a term insurance plan, and planning
to take another insurance plan, then you can go for Money Back plans.
In majority of the cases, policy holders do have those
policies which are intended for investment purposes like LIC New Money Back
Policy, LIC New Jeevan Anand Policy, etc. If you are one of those who already
hold policies taken for savings and investment purposes, now is the time for
you take a Term Insurance too. How much cover should I take when planning to
take a term insurance? The estimated life cover can be calculated by
multiplying your annual salary with 15 times.
After having such a “well planned” term insurance, you can
take LIC Jeevan Anand plan now. The main advantage of taking LIC New Jeevan
Anand policy is that it is a with-profits plan and it provides life insurance cover till you become 100 years old. When LIC makes profits, it
announces bonuses for certain policies and LIC Jeevan Anand policy is one of those
policies on which LIC declares the bonuses. LIC Jeevan Anand is a good returns policy.