In LIC’s ‘Jeevan Anand’ you get partial benefit of term insurance along with the endowment plan. In this, you have to pay a premium for a certain period of time and then get maturity. But even after getting maturity, your insurance cover continues throughout the life.
Whereas term insurance is a fully risk cover insurance. In this, your family gets money after your death. In this case, term insurance protects your family.
If you already have a ‘Jeevan Anand’ policy and you are thinking of discontinuing it and taking a term policy, then Shailesh Kumar, the co-founder of Insurance Solutions, advises to keep it running. They say that if your policy has been more than three years, then you have accumulated a considerable amount. In such a situation, by continuing to run this policy, even after maturity, your family will continue to get insurance protection in the event of death.
Shailesh Kumar of ‘Insurance Solutions’ calls term insurance a supplement insurance. They say that it works as a supplement to all other insurance you have taken. He recommends taking a term plan along with Jeevan Anand. That way, if you already have ‘Jeevan Anand’, then you can keep it running,
Shailesh Kumar of ‘Insurance Solutions’ calls term insurance a supplement insurance. They say that it works as a supplement to all other insurance you have taken. He recommends taking a term plan along with Jeevan Anand. That way, if you already have ‘Jeevan Anand’, then you can keep it running,
