What if I cancel Jeevan Anand policy?

The policy can be surrendered anytime provided two full years’ premiums have been paid. On surrendering after two policy years, the insurance company will pay a guaranteed surrender value of minimum 30\% of all premiums paid after deducting the first year’s premium.

Can we cancel LIC Jeevan Anand policy?

This policy can be surrendered at any time. However, if you surrender it before completion of three years, you will not get any sum in return. On surrendering after three policy years, the insurance company will pay a guaranteed surrender value equal to 30\% of all premiums paid after deducting the first year’s premium.

Can we change existing LIC policy?

After the policy is issued, the policyholder in a number of cases finds the terms not suitable to him and desires to change them. LIC allows certain types of alterations during the lifetime of the policy. However, no alteration is permitted within one year of the commencement of the policy with some exceptions.

Can I stop my LIC after 1 year?

A policyholder can surrender his/her policy only after the completion of 3 years, i.e. the policy has to have been in force for a period of 3 years, at least. The surrender value provided by LIC is essentially 30\% of the premiums that have been paid so far.

Is Jeevan Anand a money back policy?

LIC’s Jeevan Anand Plan is a traditional savings plan which not only covers the insured for the chosen policy term, but the life cover continues after the completion of the policy term till the entire life of the insured. Thus, the plan is an Endowment cum Whole Life Insurance Plan.

How can I deactivate Jeevan Anand?

What is LIC Jeevan Anand?

About LIC Jeevan Anand. LIC Jeevan Anand is an endowment plan offering bonuses on maturity. A whole-life plan wherein the risk of death is covered till the insured is aged 99. Flexible term of the policy allows planning for specific life-goals. An additional benefit is provided on accidental death of the insured, till the age of 70 years.

What happens if LIC New Jeevan Anand policy lapses?

If he fails to pay during the grace period as well, the policy will lapse. However, the insurance holder is allowed to pay within tenure of 2 years from the due date of the first unpaid premium. He has the option to revive the lapsed LIC New Jeevan Anand Plan by paying all the due premiums within this period.

How do I Surrender my Jeevan Anand policy?

If you want to surrender your Jeevan Anand policy you can calculate the surrender value based on LIC’s surrender value guidelines. Guaranteed Surrender value: 30\% of all premiums paid excluding first year premium. This is the minimum surrender value, provided your policy has been in force for three years.

Is LIC jeevananand plan 149 the best option for endowment plan?

If you are searching for an endowment plan that provides the advantages of an entire life policy, then LIC JeevanAnandplan 149 is one of the best choices to go for. The JeevanAnand (Plan-149) offers bonus facility.