LIC Jeevan Anand Policy : Planning for a financially secure future is essential, and life insurance is a key part of that strategy. LIC Jeevan Anand Policy has emerged as a trusted and popular plan for individuals looking to combine life coverage with a guaranteed return. What makes this plan even more attractive is the low monthly investment required to achieve a sizeable payout. Imagine investing just ₹1358 a month and receiving ₹25 lakh after a few years—sounds like a smart move, right?
In this article, we will break down how the LIC Jeevan Anand Policy works, its benefits, eligibility criteria, and how you can make the most of this plan to secure your financial future.
What is LIC Jeevan Anand Policy?
LIC Jeevan Anand is a traditional endowment plan that combines the benefits of life insurance with maturity returns. It offers financial protection to your family in the unfortunate event of your death and also ensures a lump sum payout at the end of the policy term if you survive.
This policy is one of LIC’s most popular plans due to its dual benefits and lifelong risk cover even after the maturity of the plan. It is designed for individuals who want guaranteed returns, low risk, and long-term security.
Key Features and Benefits of LIC Jeevan Anand
- Low Premium, High Return: Start investing with just ₹1358 per month.
- Guaranteed Maturity Benefit: Get ₹25 lakh or more at the end of the policy term.
- Lifetime Risk Cover: Insurance coverage continues even after the policy matures.
- Tax Benefits: Enjoy deductions under Section 80C and tax-free maturity under Section 10(10D).
- Loan Facility: Avail loan against the policy in case of financial need.
- Bonus Addition: Participates in LIC’s profit-sharing and earns regular bonuses.
How ₹1358 Monthly Can Turn Into ₹25 Lakh: Plan Illustration
Here’s a sample projection for a 25-year-old individual choosing a sum assured of ₹25 lakh with a policy term of 25 years.
| Age at Entry | Policy Term | Monthly Premium | Sum Assured | Total Premium Paid | Estimated Bonuses | Maturity Value | Life Cover After Maturity |
|---|---|---|---|---|---|---|---|
| 25 years | 25 years | ₹1358 | ₹25,00,000 | ₹4,07,400 | ₹10,00,000 | ₹25,00,000+ | ₹25,00,000 |
This example assumes average bonus rates declared by LIC over the years. The actual payout may vary depending on LIC’s declared bonuses and policy conditions.
Eligibility Criteria for LIC Jeevan Anand
Before you decide to invest in this plan, ensure that you meet the following criteria:
| Criteria | Minimum Requirement | Maximum Limit |
|---|---|---|
| Entry Age | 18 years | 50 years |
| Maturity Age | – | 75 years |
| Policy Term | 15 years | 35 years |
| Basic Sum Assured | ₹1,00,000 | No upper limit (in multiples of ₹5,000) |
| Premium Payment Frequency | Monthly, Quarterly, Half-yearly, Yearly | – |
How Does LIC Jeevan Anand Work?
The working of this plan is simple yet highly beneficial:
- Premium Payment: You pay regular premiums throughout the policy term.
- Risk Coverage: During the policy term, your life is covered. If you pass away, your nominee receives the sum assured + bonuses.
- Maturity Benefit: If you survive the policy term, you receive the sum assured plus bonuses.
- Post-Maturity Coverage: Life coverage continues even after policy maturity without any further premium payment.
This means that the policy continues to protect you for life, even after you’ve received the maturity payout.
Why LIC Jeevan Anand is a Smart Investment
Here are some strong reasons why LIC Jeevan Anand should be part of your financial planning:
- Peace of Mind: You know your family is financially protected, no matter what.
- Long-Term Wealth Creation: With compounding bonuses, your maturity amount grows significantly.
- Lifelong Coverage: Unlike most policies, this one continues to offer life insurance even after maturity.
- Loan Accessibility: If you ever need funds, the policy can help you avoid high-interest loans.
- LIC Trust: Backed by India’s oldest and most trusted insurance company.
Who Should Buy LIC Jeevan Anand?
This plan is ideal for:
- Young professionals looking for disciplined long-term savings.
- Parents who want to secure their child’s future.
- Individuals planning for retirement.
- Anyone who wants dual benefits of savings + insurance in one plan.
See more : Deposit ₹2,500 Per Month and Get Rich in 5 Years
Premium Table for Different Sum Assured Options
Here’s an idea of how the premium varies with different sum assured amounts:
| Age | Policy Term | Sum Assured | Monthly Premium | Estimated Maturity Value |
|---|---|---|---|---|
| 25 | 25 years | ₹10,00,000 | ₹543 | ₹10-12 lakh |
| 25 | 25 years | ₹15,00,000 | ₹815 | ₹15-18 lakh |
| 25 | 25 years | ₹20,00,000 | ₹1086 | ₹20-24 lakh |
| 25 | 25 years | ₹25,00,000 | ₹1358 | ₹25-30 lakh |
| 30 | 20 years | ₹10,00,000 | ₹694 | ₹10-11 lakh |
| 35 | 15 years | ₹10,00,000 | ₹925 | ₹9-10 lakh |
| 40 | 15 years | ₹10,00,000 | ₹1020 | ₹9-10 lakh |
Tax Benefits Under LIC Jeevan Anand
Investing in LIC Jeevan Anand not only secures your future but also reduces your tax liability.
- Section 80C: You can claim deductions up to ₹1.5 lakh on premiums paid.
- Section 10(10D): Maturity proceeds are completely tax-free, provided the premium does not exceed 10% of the sum assured.
LIC Jeevan Anand is a blend of security, savings, and smart planning. With just ₹1358 a month, you get the opportunity to build a corpus of ₹25 lakh while staying protected for life. Whether you’re just starting out in your career or planning your long-term financial goals, this policy offers a safe and rewarding investment avenue.
This article is for informational purposes only. The actual benefits, bonuses, and returns may vary based on LIC’s declared bonuses and individual policy conditions. Please consult a certified LIC advisor or visit the official LIC website for personalized advice before making any investment decision.