(LIC Jeevan Anand Policy) : Investing in a reliable and long-term insurance policy is essential for financial security and future planning. The LIC Jeevan Anand Policy is one of the most popular life insurance plans that offers both insurance protection and a savings component. By depositing just ₹1,358 per month, policyholders can receive a significant lump sum of ₹25 lakh after a specified tenure. This article provides a detailed breakdown of the LIC Jeevan Anand Policy, including its benefits, premium details, eligibility criteria, and maturity benefits.
What is LIC Jeevan Anand Policy?
LIC Jeevan Anand is a participating non-linked life insurance plan that offers a combination of protection and savings. This means that not only does it provide a life cover, but it also ensures that the policyholder or their beneficiaries receive a substantial payout upon maturity or in the event of an unfortunate demise.
Subsidy Bike Loan : सिर्फ ₹2500 की EMI में खरीदें हीरो इलेक्ट्रिक बाइक और उठाएं सब्सिडी का फायदा
Key Features of LIC Jeevan Anand Policy:
- Dual Benefits: Offers life cover and maturity benefits.
- Lifelong Risk Cover: Insurance coverage continues even after policy maturity.
- Fixed and Guaranteed Returns: Ensures a substantial amount at the end of the policy term.
- Bonus Benefits: Policyholders receive additional bonuses declared by LIC.
- Loan Facility Available: Can be used as collateral to secure a loan.
- Tax Benefits: Premiums paid qualify for tax deductions under Section 80C.
LIC Jeevan Anand Policy – Plan Details
The following table gives an overview of the LIC Jeevan Anand Policy and how a premium of ₹1,358 per month can yield a sum of ₹25 lakh.
IPPB Job Vacancy 2025 : इंडिया पोस्ट पेमेंट बैंक में नौकरी का सुनहरा मौका, जल्द करें आवेदन
| Plan Name | LIC Jeevan Anand |
|---|---|
| Monthly Premium | ₹1,358 |
| Policy Term | 35 years |
| Sum Assured | ₹5,00,000 |
| Maturity Benefit | ₹25,00,000 (Including Bonuses) |
| Life Cover After Maturity | Yes |
| Loan Facility | Yes |
| Tax Benefits | Under Section 80C and 10(10D) |
The total investment over 35 years will be ₹5,69,160 (₹1,358 × 12 × 35 years), but the maturity amount, including bonuses, reaches an impressive ₹25 lakh.
BOB Personal Loan : बैंक ऑफ बड़ौदा से पाएं ₹50,000 से ₹4,00,000 तक का पर्सनल लोन, जल्द करें आवेदन
How Does LIC Jeevan Anand Work?
To understand how LIC Jeevan Anand functions, let’s break it down step by step:
- Policyholder selects the sum assured – This is the base amount on which benefits are calculated.
- Premiums are paid regularly – A fixed amount is deposited on a monthly, quarterly, or yearly basis.
- Bonuses accumulate over time – LIC declares bonuses annually, which significantly increase the final payout.
- Maturity Benefit – After the policy term ends, the insured receives the total sum, including bonuses.
- Life Cover Continues – Even after payout, the insured remains covered for life.
LIC Jeevan Anand Premium Calculation
For different sum assured amounts and policy tenures, here’s how the premium varies:
| Sum Assured (₹) | Policy Term (Years) | Monthly Premium (₹) | Total Premium Paid (₹) | Expected Maturity Amount (₹) |
|---|---|---|---|---|
| 5,00,000 | 35 | 1,358 | 5,69,160 | 25,00,000 |
| 10,00,000 | 30 | 2,480 | 8,92,800 | 45,00,000 |
| 15,00,000 | 25 | 3,780 | 11,34,000 | 60,00,000 |
| 20,00,000 | 20 | 4,920 | 11,80,800 | 70,00,000 |
| 25,00,000 | 15 | 6,250 | 11,25,000 | 75,00,000 |
The premium amount varies depending on the sum assured, policy term, and age of the policyholder.
Eligibility Criteria for LIC Jeevan Anand Policy
To enroll in the LIC Jeevan Anand policy, applicants must meet the following criteria:
- Minimum Entry Age: 18 years
- Maximum Entry Age: 50 years
- Minimum Sum Assured: ₹1,00,000
- Maximum Sum Assured: No limit (subject to LIC’s underwriting policies)
- Policy Term: 15 to 35 years
- Premium Payment Mode: Monthly, Quarterly, Half-Yearly, or Yearly
- Medical Examination: Required for higher sum assured amounts
Benefits of LIC Jeevan Anand Policy
1. Maturity Benefit
Upon policy completion, the insured receives the sum assured along with accumulated bonuses, leading to a large lump sum payout.
2. Lifetime Risk Cover
Even after receiving the maturity amount, the policyholder continues to have life coverage, ensuring long-term security.
3. Death Benefit
In case of the policyholder’s unfortunate demise before maturity, their nominee receives the sum assured plus bonuses.
4. Loan Facility
Policyholders can avail of a loan against their surrender value, making it a useful asset in times of financial need.
5. Tax Benefits
- Section 80C: Tax deductions on premiums paid.
- Section 10(10D): Maturity proceeds are tax-free.
How to Apply for LIC Jeevan Anand Policy?
Steps to Apply Online
- Visit the LIC website: Navigate to the official LIC portal.
- Select the Jeevan Anand Policy: Read the details and choose the sum assured.
- Fill out the application form: Provide your personal and financial details.
- Submit documents: Required KYC documents include Aadhaar, PAN, and income proof.
- Pay the first premium: Complete the payment process.
- Medical Examination: If required, undergo a health check-up.
- Policy Issuance: Once approved, you will receive the policy documents.
Offline Application
- Visit the nearest LIC branch.
- Contact a LIC agent.
- Complete the application process in person.
Frequently Asked Questions (FAQs)
1. Can I increase my sum assured later?
No, once the policy starts, the sum assured remains fixed. However, you can buy a new policy with a higher sum assured.
2. What happens if I stop paying premiums?
If premiums are not paid within the grace period, the policy may lapse, and benefits will be affected.
3. Can I surrender the policy before maturity?
Yes, but surrendering the policy early leads to lower returns, and bonuses may not be fully payable.
4. Is Jeevan Anand better than a term plan?
Jeevan Anand offers maturity benefits + lifetime cover, whereas term plans provide only risk coverage.
5. How are bonuses calculated?
LIC declares Simple Reversionary Bonuses annually, which accumulate and are paid at maturity.
LIC Jeevan Anand Policy is an excellent investment option for individuals looking for a secure life insurance plan with savings benefits. By depositing just ₹1,358 per month, policyholders can receive ₹25 lakh upon maturity while enjoying lifetime insurance coverage. With additional benefits like loan availability, tax exemptions, and bonus accumulation, it is a smart choice for long-term financial planning.
If you are looking for a guaranteed return with life protection, LIC Jeevan Anand is a policy worth considering. Contact an LIC representative or visit the official website to get started today!