Jeevan Anand Review

POSTED BY Jayaprasad ON May 30, 2011 1:37 pm COMMENTS (3)

Hi,

I have 2 Jeevan Aand (Term) policies for total 5 lacs with premium 15500/- (half yearly) with tenure 17years. Also an another policy “The Endowment Assurance Policy” for 3 lacs with premium 8400 (half yearly) with tenure 18 years.

With all 3 policies, my yearly premium is 47660/- and it’s becoming a burden to carry it further. It’s my 4th year in the tenure and am thinking of surrendering one of the two Jeevan Anand policies which I have.

Could you please suggest/guide with respect to below queries?

1) What would be surrender amount for Jeevan Anand policy 2 lacs summ assured with 10176 premium for 21 years?

2) What would be surrender amount for Jeevan Anand policy 3 lacs summ assured with 20238 premium for 17 years?

I’m thinking of surrendering one of hte above…please suggest the benefit of surrendering v/s retaining the policies so long.

3 replies on this article “Jeevan Anand Review”

  1. trupti says:

    Jayaprasad

    you should go for term insurance plan. less premium and better coverage.
    Invest remaining amount of the premium in one of the good MF. You will have much much better result with this combo.(Term plan + MF)

    money back or endowment policies are just crap. Better to surrender them as soon as possible.

  2. Jayaprasad says:

    Thanks Ashal..will check the comments on forum..

  3. ashal jauhari says:

    Dear Jayaprasad, Please check the product review of Jeevan Anand @ jagoinvestor itself. The Jeevan Anand (JA) is neither good for investment purpose nor good for insurance purpose. You have to decide on your own which way you want to go.

    For your immediate query of surrendering one policy, in all probability you ‘ll get higher sum assured for 17Y term policy. Please do remember, the surrender ‘ll cost you a bomb as you ‘ll not recover even your paid prems. till date.

    Please cover yourself adequately thru pure vanilla term covers & surrender all these policies in my view.

    You may take a personal call based upon your own requirements.

    Thanks

    Ashal

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