Although like any other policy this policy is also very attractive. But the actual benefit can be understood after a through analysis only. Let's try to scan the policy with a simple example.
For more details about this policy, you can refer to this page. The picture and data reference is taken from that page here to analyse further.
The below illustration is for a healthy Male (non-tobacco user) opting for a Sum Assured = Rs 1,00,000 and Policy Term = 25 years respectively.
Now we will take the example of premium = 4346 per annum.
term period = 25 years
total payment from your side = 4346 X 25 = Rs 108650/-
Bonus rate as 0.055. (approx data for analysis purpose)
The final Bonus amount will be = 0.055 X 1,00,000 X 25= Rs 137500/-
So on maturity the total amount will be = Rs 100000 + Rs 137500 = Rs 237500 /-
You will also get Final Addition Benefit(FAB) with this amount (if any). Now if you die after completing the premium term (after 25 years), then your family will also get Rs 1,00,000 more as Double death benefit plan.
Now let's invest this Rs 4346 per annum in a monthly recurring deposit scheme. In such case monthly amount equivallent to the premium will be 4346/12 = 362 and tenure will be 25X12 = 300 month
Now try this calculator for accumulated money after 25 years. Its around Rs 343605, which is far more than what Jeevan Anand policy will provide you.
But Jeevan Anad is an insurance policy too. So how can we compare with recurring deposit? Actually we can do the investment in such a way so that our insurance and savings, both requirement can be fulfilled.
You can do a complete term insurance plan, in which you have to pay a very less premium. And side by side invest in other savings options to earn a good interest. This will fulfill your future requirement and also make your money capable to fight with inflation after 25 years.
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Hope this small calculation will help you to analyse the policy. This data might be wrong, kindly correct me here in case any of the figure is calculated wrongly.