LIC Jeevan Anand Policy : Looking for a smart investment that ensures both life cover and a substantial maturity benefit? LIC’s Jeevan Anand Policy could be your ideal choice. With just a small monthly investment of ₹1358, you can potentially receive up to ₹25 lakh after a few years. Let’s break down how this plan works, what benefits it offers, and how you can make the most of it.
What is LIC Jeevan Anand Policy?
LIC Jeevan Anand is a popular endowment cum whole life insurance plan offered by Life Insurance Corporation of India. It is a combination of savings and protection that offers financial support to the policyholder’s family in case of death and a lump sum payout on survival at maturity. The policy continues to offer life cover even after the maturity benefit has been paid, making it one of the most favored plans in LIC’s portfolio.
Key Features of LIC Jeevan Anand:
- Dual benefit of life cover + maturity amount
- Continues to provide risk cover even after policy maturity
- Offers bonus additions declared by LIC
- Tax benefits under Section 80C and 10(10D)
- Flexible premium paying terms and policy tenure
How Investing ₹1358 Per Month Can Get You ₹25 Lakh?
Many policyholders are attracted to the Jeevan Anand plan because of its affordability and returns. Let’s take an example to understand how an investment of ₹1358/month can grow into a lump sum payout of ₹25 Lakh.
Illustration Example:
Let’s consider the following assumptions:
- Age of the policyholder: 25 years
- Policy Term: 35 years
- Monthly Premium: ₹1358 (approximately ₹16,300 annually)
- Sum Assured: ₹10,00,000
- Estimated Bonus: Based on historical LIC bonus rates
- Final Additional Bonus: Included
Investment and Returns Breakdown:
| Particulars | Details |
|---|---|
| Age at Entry | 25 Years |
| Monthly Premium | ₹1358 |
| Yearly Premium | ₹16,300 approx. |
| Policy Term | 35 Years |
| Total Premium Paid | ₹5,70,500 approx. |
| Sum Assured | ₹10,00,000 |
| Accumulated Bonus | ₹10,50,000 (approx.) |
| Final Additional Bonus | ₹4,50,000 (approx.) |
| Total Maturity Amount | ₹25,00,000 (approx.) |
| Risk Cover After Maturity | ₹10,00,000 (Whole Life Cover) |
*Note: Bonus and maturity amount are subject to LIC’s declared rates and may vary over time.
LIC Jeevan Anand Policy Benefits in Detail
1. Death Benefit
In case of the policyholder’s unfortunate demise during the policy term, the nominee receives:
- Sum Assured on Death + Accrued Bonus + Final Additional Bonus
This ensures financial support to the family even if the policyholder is no more.
2. Maturity Benefit
If the policyholder survives till the end of the policy term, they receive:
- Basic Sum Assured + Accrued Bonus + Final Additional Bonus
This maturity amount can be used for future goals like child’s education, marriage, or retirement.
3. Continued Life Cover After Maturity
This is a unique feature of LIC Jeevan Anand. Even after the maturity payout is received, the life cover continues for the entire lifetime of the policyholder, without paying any additional premium.
4. Loan Facility
Policyholders can avail of a loan against the policy after a few years of premium payment. This can be helpful in case of emergencies or liquidity needs.
5. Tax Benefits
- Premiums paid are eligible for deduction under Section 80C
- Maturity amount is tax-free under Section 10(10D), subject to conditions
Policy Terms, Premiums and Eligibility
Let’s look at the basic eligibility conditions and options under LIC Jeevan Anand:
| Parameter | Details |
|---|---|
| Minimum Entry Age | 18 Years |
| Maximum Entry Age | 50 Years |
| Maximum Maturity Age | 75 Years |
| Policy Term | 15 to 35 Years |
| Premium Payment Term | Equal to Policy Term |
| Minimum Sum Assured | ₹1,00,000 |
| Maximum Sum Assured | No Limit |
| Premium Payment Mode | Monthly, Quarterly, Half-Yearly, Yearly |
*Premiums may vary based on age, term, and sum assured.
See more : LIC Jeevan Pragati Plan
Sample Premium Chart for Different Age Groups
To give you a better understanding, here is a sample monthly premium chart for a ₹10 Lakh Sum Assured:
| Age | Policy Term | Monthly Premium (Approx.) |
|---|---|---|
| 25 | 35 Years | ₹1358 |
| 30 | 30 Years | ₹1510 |
| 35 | 25 Years | ₹1680 |
| 40 | 20 Years | ₹1950 |
| 45 | 15 Years | ₹2230 |
| 50 | 15 Years | ₹2500 |
*Premiums are illustrative and may vary depending on exact calculation and taxes.
Who Should Invest in LIC Jeevan Anand?
This plan is ideal for:
- Salaried individuals looking for safe, long-term investment
- Parents planning for future child expenses
- First-time insurance buyers seeking both protection and returns
- Individuals who prefer guaranteed benefits over market-linked returns
Important Points to Consider
Before investing, here are a few things you should keep in mind:
- LIC Jeevan Anand is not a market-linked plan, so returns are based on LIC’s declared bonuses.
- Surrendering the policy early may lead to lower returns.
- Always disclose accurate health and personal information while purchasing.
- Use LIC’s official premium calculator or consult a LIC agent for exact premium amounts.
How to Buy LIC Jeevan Anand Policy?
You can purchase the policy through:
- Nearest LIC branch office
- Official LIC website
- Authorized LIC agents
- Online insurance platforms
Make sure to have your PAN, Aadhaar, bank details, income proof, and passport-size photo handy while applying.
LIC Jeevan Anand is one of the most trusted and long-standing policies in the Indian insurance market. With affordable premiums like ₹1358 per month, the plan not only secures your family’s future but also helps you build a sizeable financial corpus over time. Its combination of life cover, maturity benefits, and whole-life protection makes it a compelling choice for risk