LIC Jeevan Anand-715 Plan Advisor | Benefits & Coverage

When it comes to securing your future and that of your loved ones, life insurance plays a pivotal role. Among the numerous life insurance options available, the LIC Jeevan Anand-715 Plan stands out for its comprehensive coverage and flexible benefits. Aimed at those seeking a reliable and financially sound life insurance policy, the LIC Jeevan Anand-715 plan offers the perfect combination of risk coverage, wealth accumulation, and tax benefits.

What is LIC Jeevan Anand-715 Plan?

The LIC Jeevan Anand-715 Plan is a combination of a traditional endowment plan and a pure risk cover. This plan is ideal for individuals who want to safeguard their families with a life insurance policy while also accumulating savings over time. The plan ensures financial protection against untimely death and also provides a lump sum payout at the end of the policy term, in case of survival.

One of the key highlights of this policy is its flexibility. Whether you are looking to secure your child’s future, ensure your family's well-being, or build a corpus for retirement, this plan offers various customization options to suit your needs. It provides both life cover during the policy term and a lump sum benefit at the end of the term, subject to the policyholder's survival.

Anshu Badal is an experienced insurance advisor with a deep understanding of the insurance market, having worked in the industry since January 2020. As a dedicated policy agent, Anshu specializes in offering comprehensive insurance solutions from all major companies, covering a wide range of insurance types to meet the diverse needs of clients. Whether you're looking for life insurance, health insurance, or other forms of coverage, Anshu ensures that you get the best advice and policies tailored to your unique requirements. One of the key offerings is the LIC Jeevan Anand-715 Plan, a reliable life insurance product that combines risk cover with savings benefits. With agent code 03899 51A, Anshu works under the trusted platform of Policy Labh, a one-stop destination for all your insurance needs. Through the website, clients can explore various plans, including the LIC Jeevan Anand-715, and get expert guidance on selecting the right insurance policy.

Key Features of LIC Jeevan Anand-715 Plan

1. Combination of Endowment and Risk Cover: The LIC Jeevan Anand-715 Plan combines the features of an endowment plan and a term insurance plan. This dual advantage provides financial protection during the policy term as well as a risk cover after the completion of the policy tenure.

2. Survival Benefits: In case the policyholder survives the policy term, they are entitled to the policy's sum assured along with bonuses (if applicable). The policy’s survival benefit is paid in a lump sum or as a monthly payout, depending on the chosen option.

3. Death Benefits: In the unfortunate event of the policyholder's death during the term of the policy, the nominee receives the sum assured along with bonuses, if any. The death benefit ensures that the policyholder’s family remains financially secure, regardless of unforeseen circumstances.

4. Bonus Facility: LIC Jeevan Anand-715 Plan is eligible for bonuses that are paid as simple reversionary bonuses. The bonus amount is added to the policy’s sum assured and paid out either at the time of survival or death.

5. Flexible Premium Payment Options: The plan offers multiple premium payment modes, such as yearly, half-yearly, quarterly, and monthly, giving policyholders the freedom to choose the one that best fits their financial situation.

6. Loan Facility: Policyholders can avail of loans against their LIC Jeevan Anand-715 Plan, making it a viable option for emergency financial needs. The loan amount is based on the surrender value of the policy.

7. Tax Benefits: Premiums paid towards this plan qualify for tax deductions under Section 80C of the Income Tax Act. Additionally, the death benefits and survival benefits are tax-free under Section 10(10D), making it an excellent tax-saving tool.

Eligibility Criteria for LIC Jeevan Anand-715 Plan

The LIC Jeevan Anand-715 Plan is designed to accommodate a wide range of individuals. The eligibility criteria are as follows:

• Minimum Age at Entry: 18 years (completed)
• Maximum Age at Entry: 50 years (depending on the term selected)
• Policy Term: 15 to 35 years
• Premium Paying Term: It can vary based on the chosen policy term, typically ranging from 5 to 20 years.
• Sum Assured: The minimum sum assured is INR 1,00,000, with no upper limit on the sum assured.

Benefits of LIC Jeevan Anand-715 Plan

1. Financial Protection: The plan provides life insurance coverage during the policy term and ensures the policyholder’s family is protected in case of any untimely event. The death benefit helps in covering the financial needs of dependents in the absence of the policyholder.

2. Wealth Creation: By combining the benefits of an endowment plan, the Jeevan Anand-715 Plan enables policyholders to accumulate savings over time. The bonuses, when declared, help in boosting the corpus at the time of policy maturity.

3. Affordability: With flexible premium payment options, the LIC Jeevan Anand-715 Plan allows policyholders to customize the premiums according to their financial capacity. Whether paying annually or monthly, the plan can fit into your budget.

4. Tax Benefits: The policy provides the advantage of tax deductions on premiums under Section 80C of the Income Tax Act. The maturity benefits and death benefits are also exempt from tax under Section 10(10D), which further enhances the tax efficiency of the policy.

5. Loan Facility: If the policyholder faces a sudden financial emergency, the LIC Jeevan Anand-715 Plan offers the option of availing a loan against the policy. This provides easy access to funds without having to liquidate your assets.

6. Flexibility: With multiple customization options, the policyholder can choose the sum assured, premium payment mode, and policy term according to their preferences. This flexibility ensures that the policy can be tailored to meet individual needs.

How to Apply for LIC Jeevan Anand-715 Plan?

Applying for the LIC Jeevan Anand-715 Plan is simple and can be done in a few steps:

1. Research and Consult: First, understand the features and benefits of the plan, and consult an LIC advisor or an insurance expert who can guide you in selecting the right options based on your financial goals.

2. Choose Your Preferences: Based on your needs, select the sum assured, policy term, and premium payment mode. You can also inquire about riders or additional coverage options.

3. Submit Documents: Submit the required documents such as age proof, address proof, medical reports (if needed), and identity proof for policy issuance.

4. Payment: Pay the premiums either through online payment or through a premium receipt.

5. Policy Issuance: Once your application is approved, the policy document will be issued, and you will be enrolled in the LIC Jeevan Anand-715 Plan.

The LIC Jeevan Anand-715 Plan is an excellent choice for individuals looking for a life insurance policy that not only provides risk coverage but also facilitates wealth creation. With a combination of endowment and risk cover, flexible premium payment options, tax benefits, and the possibility of accumulating bonuses, this plan ensures that your financial goals are met while providing security to your family. Whether you're looking to plan for retirement, save for your child's education, or ensure the financial well-being of your loved ones, LIC Jeevan Anand-715 is a reliable and sound investment in your future.