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Depends on two things- your age and your Mode of earning
If u r regular income group, Jeevan Anad will protect you for several years upto maturity & beyond maturity
If you can invest for 5 years good amount, you continue to get returns lifetime under Jeevan Tarang. So invest ment should be handsome.
YOU CAN TRY BOTH
There are two scheme it’s your choice. the agent will help you.I think both are best.Look at your capacity are u enable for both? u can with both.because LIC is very reputed insurance.
Jeevan Anand is a combination of two plans- Endowment Assurance and Whole Life plan.
Jeevan Tarang – This is a with-profits whole of life plan which provides for annual survival benefit at a rate of 5½ % of the Sum Assured after the chosen Accumulation Period.
Decide your objective first. What you plan to achieve by going for these policies? Is it for insurance or investments or retirement planning.
If it is for safety i.e. insurance, then term insurance may be best bet for you. It’s cheapest and purest form of insurance.
If it is for investments or retirement planning, then there are other investments options like PPF, NSC, Mutual Funds which may be better than insurance policies.
If it is for both and you want safe returns then you can go for combination of term insurance and PPF or NSC, they would give you better returns in the future.
Jeevan Tarang offers you facility to accumulate some amount and then offers returns at 5.5 % rate of interest, while PPF offers 8 % rate of interest and it is compounded anually.
Jeeva Anand has higher premiums compared to other endowment policies and traditionally such policies has given returns in 5-7 % range.
So there may be better alternatives available. Just do due diligence before taking any decision.
Both are whole life products with different features.
Jeevan Anand will give you maturity amount at end of premium period and still continue to cover you without paying any further premium.
Jeevan Tarang will give you bonus at the end of premium paying period which can be 10,15 or 20 years. At the end of period, it will give you 5.5% of the sum assured lifelong till age 100. You will continue to be covered for sum assured throughout.
Make selection as per your choice.
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