LIC Jeevan Ankur Plan

Jeevan Ankur Child Benefit Endowment Plan is offered by LIC. It's traditional with profit plan that has been thoughtfully conceptualized to help you with your child’s education planning and future. Under this plan, parents remain Life Insured and their children remain the nominees. The plan ensures that children get the benefits for their better future, even if parents do not make it till the end of the policy tenure.  

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  • Invest ₹10k/month and your child gets ₹1 Cr tax free*

  • Save upto ₹46,800 in tax under Section 80(C)

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

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According to this plan, the premium is required to be paid till the policy term ends. Additionally, at the end of the policy term, the Sum Assured along with the Loyalty Additions is paid as the Maturity Benefit, regardless of whether the Life Insured, i.e. the parent is alive or not.

If the Life Insured dies before the end of the policy term, the nominee, i.e. the child, gets the basic Sum Assured as the Immediate Death Benefit. The policy doesn’t end in such cases and the insurer continues to pay the rest of the premiums.

In addition, the nominee also gets the Income Benefit, which is 10% of the Sum Assured, every year till the end of the policy term, from the date of death of the policyholder. Furthermore, the policy is available with two additional riders to ensure extra protection and benefits for the policyholders.

Let’s check out the key features of this amazing Child Benefit Endowment Policy from LIC. 

Key Features of LIC Jeevan Ankur

  • It is an endowment plan with Loyalty Additions.

  • In the event of the demise of the Life Insured, i.e. the parent, before the end of the policy term, Basic Sum Assured is paid immediately to the nominee, i.e. the child. Further, 10% of the Sum Assured is paid to the nominee, every year till the end of the policy term, as income benefit.

  • The nominee is entitled to receive the Maturity Benefit, regardless of whether the Life Insured is alive or not.

  • This plan offers Loyalty additions on maturity, regardless of whether the Life Insured is alive or not.

  • The policy provides mode rebates and large Sum Assured rebates to the policyholders.

  • Two additional riders are available with this plan.

Now, that you know the key features of LIC's Jeevan Ankur Policy (UIN: 512N267V01), it's time to get acquainted with the eligibility criteria of this plan.

 Eligibility Criteria for LIC Jeevan Ankur

  • The minimum Sum Assured is Rs.100000

  • There is no limit on the maximum Sum Assured

  • The minimum Policy Term is a Child's 18 years of age or 8 years, whichever is higher.

  • The maximum Policy Term is a Child's 25 years of age.

  • The minimum Entry Age is 18 years.

  • The Maximum Entry Age is 50 years.

  • The maximum Age at Maturity is 75.

  • There is no minimum limit on the Entry Age of a Child.

  • The Maximum Entry Age limit of Children is 17 years.

  • Single, Yearly, Half-Yearly, Quarterly, Monthly & SSS are the premium payment modes available to the policyholders. 

Benefits of LIC Jeevan Ankur

  • Death Benefit - Basic Sum Assured along with Income benefit is paid out to the nominee, in the event of the demise of the Life Insured. Income benefit is 10% of the Basic Sum Assured and is paid out, every year till the time policy ends. In the event of the death of the nominee, i.e. the child, Life Insured can nominate a new nominee and continue to get the same benefits. In the event of the demise of the nominee after the death of Life Insured, the policy continues with the same benefits that are paid to the inheritor(s) of the Life Assured.

  • Assured Maturity Benefit – The Assured Maturity Benefits along with Loyalty Additions, if any, are payable at the maturity of the policy, regardless of whether the Life Insured is alive or not. 

  • Loyalty Additions - Loyalty Additions are provided, at the discretion of the insurer, on the date of policy maturity, regardless of whether the Life Insured is alive or not.

  • Guaranteed Surrender Value - The Guaranteed Surrender value for Single Premium Policy is 90% of the premium paid if the policy has been successfully renewed for one year or more. The Guaranteed Surrender Value excludes any premium paid for the optional rider. For Regular Premium Policies, the Guaranteed Surrender Value is equal to 30% of the premiums paid, excluding the premium for the first year and premiums for optional riders provided the policy has been in effect for 3 years and the regular premium payments have been made.

  • Income Tax Benefits - Premiums paid up to Rs.1,00,000 are deductible from the taxable income under section 80C of the Income Tax Act. Maturity benefits are also tax-free under section 10 (10) D of the Income Tax Act. 


There are two optional riders available with LIC’s Jeevan Ankur Insurance Plan on the payment of extra premiums.

  • Accidental Benefit Rider – This rider helps policyholders get an additional amount equal to the Sum Assured for the accidental benefit. Sum Assured for Accidental Benefit Rider is paid upon death caused due to accident. The minimum Accident Benefit Rider Sum Assured is Rs.25,000 and the maximum is Rs.50 lakh.

  • Critical Illness Rider - This rider helps policyholders get an additional sum assured for the critical illness in case they are diagnosed with a pre-defined set of critical illnesses. The minimum Sum Assured for critical illness riders is Rs.50,000 and the maximum is Rs.5 lakh. One can avail of this rider with or without the premium waiver benefit.


There are two types of Rebates that policyholders can avail of on this policy. These are:

  1. Sum Assured Rebate

    Those making a single premium payment, get to enjoy 4% of the Sum Assured as a rebate for Sum Assured between Rs.2,0,000 and Rs.4,95,000, policyholders. On the other hand, for Sum Assured equal to or higher than Rs.5,00,000/-, policyholders get to enjoy a 6% of the Sum Assured as a rebate. There is no rebate for Sum Assured between Rs.1,00,000 and Rs.1,95,000.

    Similarly, those making regular premium payments can earn 2% of the Sum Assured as a rebate, for Sum Assured between Rs.2,0,000 and Rs.4,95,000. And 3.00% for Sum Assured equal to or above Rs.5,00,000/-. There is no rebate for Sum Assured between Rs.1,00,000 and Rs.1,95,000, for those making regular premium payments.

  2. Mode Rebate

    Policyholders get to earn a 1% rebate of the tabular premium if they pay their premiums on a half-yearly basis. On the other hand, if policyholders pay their premiums every year, they get to earn a rebate of 2% of the tabular premium amount.


In the event of the Life Assured committing suicide (be it sane or insane) at any time within one year from the risk commencement date, the Jeevan Ankur Policy by LIC gets terminated. However, for Single Premium Policy, claims to 90% (maximum) of single premium paid can be made. However, extra premiums are excluded.


  • Q 1: What happens if I stop paying premium payments?

    Ans: Your Jeevan Ankur LIC policy will lapse if you stop making premium payments. However, if you have made premium payments regularly for three years, then your policy will acquire a Paid Up Value and the risk cover will continue at the decreased Sum Assured. The reduced Paid Up value is payable on the policy maturity date or the demise of the Life Insured, before the end of the policy term.
  • Q 2: What is Paid-Up Value?

    Ans: If you have paid regular premiums for at least three years and have stopped paying subsequent premiums, your policy would not completely lapse; however, your Sum Assured is decreased and your policy will continue as a Paid-up plan for a decreased Sum Assured. The Paid-up sum is paid on the policy maturity date or the death of the Life Insured.
  • Q 3: What if I am not satisfied, after buying the policy, with the “Terms and Conditions”?

    Ans: LIC allows you to return the policy within 15 days from the date of the receipt of the policy bond if you are not happy with the terms and conditions.
  • Q 4: What if I want to surrender the policy?

    Ans: If you wish to surrender the policy, you will get a Guaranteed Surrender Value, provided you have made regular premiums for at least 3 years. In case it is a Single Premium Policy, the guaranteed value is paid up only after 1 year of successful completion of the policy. For Regular Premium Policy, the Guaranteed Surrender Value is 30% of the total premiums paid minus the premium for the first year. The Guaranteed Surrender Value, in the case of Single Premium Policies, is 90% of total premiums paid.
  • Q 5: Can I get a loan against my policy?

    Ans: Under Jeevan Ankur Policy by LIC, loans are not available. You will need to check out other such plans by LIC to see what plans allow loans against the policy.
    Now it’s Your Turn!!
    Now you know everything about LIC's Child Benefits Endowment Plan - Jeevan Ankur Policy (UIN: 512N267V01). Go ahead, put this learning into practice and financially secure your child's future now!
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