LIC Jeevan Ankur Plan

Jeevan Ankur Child Benefit Endowment Plan offered by LIC. It’s a 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 the Life Insured and their children remain the nominees. The plan ensures that children get the benefits for their better future, even if parents don’t make it till the end of the policy tenure.

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  • Insurer pays your premiums in your absence

  • Save ₹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

*Please note that the quotes shown will be from our partners
Nothing Is More Important Than Securing Your Child's Future

Invest ₹10k/month your child will get ₹1 Cr Tax Free*

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According to this plan, the premium is required to be paid till the policy term ends. And 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 policy holder. Furthermore, the policy is available with 2 additional riders to ensure extra protection and benefits for the policy holders.

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 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.
  • Nominee is entitled to receive the Maturity Benefit, regardless of whether the Life Insured is alive or not.
  • This plan offers Loyalty additions on the maturity, regardless of whether the Life Insured is alive or not.
  • The policy provides mode rebate and large Sum Assured rebates to the policy holders.
  • 2 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 to 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 Child’s 18 years of age or 8 years, whichever is higher.
  • The maximum Policy Term is 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 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 policy holders. 

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, is payable at the maturity of the policy, regardless of whether the Life Insured is alive or not. 
  • Loyalty Additions - Loyalty Addition 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 optional rider. For regular Premium Policies, the Guaranteed Surrender Value is equal to 30% of the premiums paid, excluding premium for the first year and premiums for optional riders, provided the policy has been in effect for 3 years and 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  Income Tax Act. Maturity benefits are also tax free under section 10(10)D of 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 policy holders get anadditional amount equal to the Sum Assured for the Accident Benefit Rider. 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 policy holders get an additional Sum Assured for the Critical Illness Rider in case they are diagnosed with a pre-defined set of Critical Illnesses. The minimum Sum Assured for Critical Illness Rider is Rs. 50,000 and the maximum is Rs. 5 lakh. One can avail this rider with or without the Premium Waiver Benefit.


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

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

Similarly, those making regular premium payments can earn 2% of the Sum Assured as rebate, forSum 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 1,95,000, for those making regular premium payments.

Mode Rebate: Policy holders get to earn 1% rebate of the tabular premium, if they pay their premiums on a half-yearly basis. On the other hand, if policy holders pay their premiums on a yearly basis, 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 risk commencement date, 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.

You may also like to read : Best LIC Policies in 2021



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