LIC Jeevan Anand is an endowment cum whole life policy along with Bonus facility. This is a Double Death Benefit Plan if the life insured survives till the end of the policy term. This plan has average premium, high bonus rate and great liquidity features.
In this plan, the Life Insured receives the Sum Assured+ Bonus as Maturity Benefit but the life cover chosen continues till his death. Again an additional Sum Assured is paid whenever the Life Insured dies. Thus this plan is both an endowment plan and a whole life plan.
However, if the life insured dies before the completion of premium paying term, i.e. within the policy tenure, the entire Sum Assured along with accrued Bonus is paid to the nominee and the policy would terminate.
There is also an additional Accidental Death and Disability Benefit is payable till 70 years of age of the life insured