LIC Jeevan Anand : Are you dreaming of building a solid financial future with minimal investment? LIC Jeevan Anand could be the perfect option. By investing just ₹1358 per month, you can accumulate a maturity amount close to ₹25 lakh. But how does this plan work, and how long do you need to invest to reach your goal? This article breaks it down for you in simple terms, with easy-to-understand tables and a detailed analysis of the benefits.
Let’s explore how LIC Jeevan Anand helps secure your future with small, consistent contributions.
What is LIC Jeevan Anand Plan?
LIC Jeevan Anand is one of the most popular endowment plans offered by the Life Insurance Corporation of India. It provides the dual benefit of savings and life insurance coverage. It combines the features of a life insurance policy with a maturity benefit, which makes it an attractive option for long-term investors looking to create wealth safely.
Key Features of LIC Jeevan Anand:
- Combination of life insurance and investment.
- Provides life coverage even after the maturity of the policy.
- Offers a lump sum at maturity and bonuses.
- Tax benefits under Section 80C and Section 10(10D).
- Suitable for individuals aged 18 to 50 years.
How Does LIC Jeevan Anand Work with ₹1358 Monthly Investment?
Let’s break down how a monthly premium of ₹1358 works in the LIC Jeevan Anand policy. The total maturity amount you can receive depends on the policy term, age of the policyholder, bonuses declared, and other conditions. However, for illustration, we will take a standard scenario.
Sample Calculation:
Assuming:
- Age of the policyholder: 30 years
- Policy term: 35 years
- Monthly premium: ₹1358 (Annual Premium: ₹16,296 approx.)
- Sum Assured: ₹5,00,000
Over the policy term, the investor will pay premiums regularly, and LIC will add bonuses annually. At the end of the term, the maturity amount may touch ₹25 lakh, depending on the bonuses declared over the years.
See More : Pay Just ₹1358 Monthly and Receive ₹25 Lakh
LIC Jeevan Anand Plan – Investment and Returns Breakdown
To understand the policy better, here’s a table showing the approximate value build-up over different policy durations and bonus assumptions.
Table 1: Monthly Investment of ₹1358 Over Different Policy Terms
| Policy Term (Years) | Total Premium Paid | Approx. Bonus Accumulated | Maturity Sum Assured | Estimated Maturity Amount |
|---|---|---|---|---|
| 15 | ₹2,44,440 | ₹2,25,000 | ₹5,00,000 | ₹9,69,440 |
| 20 | ₹3,25,920 | ₹3,50,000 | ₹5,00,000 | ₹11,75,920 |
| 25 | ₹4,07,400 | ₹5,00,000 | ₹5,00,000 | ₹14,07,400 |
| 30 | ₹4,88,880 | ₹6,75,000 | ₹5,00,000 | ₹16,63,880 |
| 35 | ₹5,70,360 | ₹8,50,000 | ₹5,00,000 | ₹19,20,360 |
| 40 | ₹6,51,840 | ₹10,75,000 | ₹5,00,000 | ₹22,26,840 |
| 45 | ₹7,33,320 | ₹12,75,000 | ₹5,00,000 | ₹25,08,320 |
*Note: These are estimated values. Bonus rates can vary annually depending on LIC’s performance.
Benefits of Choosing LIC Jeevan Anand
LIC Jeevan Anand isn’t just about savings; it offers a host of other benefits that make it a trusted plan for long-term financial planning.
Key Benefits:
- Risk Cover Even After Maturity: Life cover continues even after the policy matures.
- Guaranteed and Bonus Returns: The sum assured is guaranteed, while bonuses enhance the final corpus.
- Loan Facility: Policyholders can take a loan against the policy after a few years of premium payments.
- Tax-Free Maturity Amount: Under Section 10(10D), the maturity proceeds are tax-free.
- Financial Discipline: Regular premium payment encourages a habit of saving.
Who Should Consider This Plan?
LIC Jeevan Anand is a suitable plan for individuals who:
- Prefer low-risk, traditional saving plans.
- Want life coverage with a maturity benefit.
- Seek long-term wealth creation without market-linked risks.
- Are looking for a tax-saving investment option.
It’s especially ideal for salaried individuals, self-employed professionals, and early investors in their 20s or 30s.
LIC Jeevan Anand – Policy Details at a Glance
Here’s another table summarizing the essential policy features and eligibility criteria.
Table 2: LIC Jeevan Anand Policy Details
| Feature | Details |
|---|---|
| Minimum Entry Age | 18 Years |
| Maximum Entry Age | 50 Years |
| Maximum Maturity Age | 75 Years |
| Minimum Sum Assured | ₹1,00,000 |
| Premium Payment Term | Same as Policy Term |
| Policy Term | 15 to 35 Years |
| Premium Payment Frequency | Monthly, Quarterly, Half-Yearly, Yearly |
| Loan Facility | Available after 3 years |
| Death Benefit | Sum Assured + Bonuses |
| Maturity Benefit | Sum Assured + Accrued Bonuses |
How Long Does It Take to Get ₹25 Lakh from LIC Jeevan Anand?
To accumulate ₹25 lakh with a monthly premium of ₹1358, a policyholder typically needs to stay invested for 35 to 45 years. Since the plan builds wealth gradually through bonuses and guaranteed returns, time is a critical factor.
Here’s a general estimate:
- 35 Years: ₹19–₹20 Lakh
- 40 Years: ₹22–₹23 Lakh
- 45 Years: ₹25+ Lakh
This makes it an ideal plan for young investors looking to create a retirement corpus or achieve long-term financial goals.
Important Points to Keep in Mind
Before investing in LIC Jeevan Anand, consider the following:
- Long-Term Commitment: You need to stay invested for decades to get the full benefit.
- Bonus Dependence: The maturity amount depends heavily on the bonuses LIC declares annually.
- Liquidity Issues: Limited liquidity in the early years; premature withdrawal leads to loss of benefits.
- Loan vs. Surrender: It’s better to opt for a loan than surrendering the policy in financial emergencies.
LIC Jeevan Anand is a powerful savings cum insurance plan that can help you create a solid financial future with a small monthly investment like ₹1358. With consistent investment and the power of compounding through bonuses, you can accumulate up to ₹25 lakh or more over the years.
It’s an ideal plan for those who value stability, guaranteed returns, and life coverage even after maturity. However, patience and discipline are key. Always consult a LIC advisor to understand the latest bonus rates and policy terms before investing.