LIC Jeevan Anurag Plan

Smart parents often look out for their children’s future and start planning even before their child speaks. They cultivate a conscience in their kids to pursue things of their interest and skills. Besides, they invest sizeably for their child’s education needs. However, some parents find it difficult to reach an entry point. If you are a parent who wants to save for their children’s future, this article is for you. 

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By now, you are probably wondering ‘how do I find a child education policy that ensures quality education for my children, even when I am not around.’

The answer is simpler than you thought! Go for LIC unique and exceptional Jeevan Anurag Life Insurance Policy (Table 168).

What is Jeevan Anurag Life Insurance Policy?

Here’s a Jeevan Anurag Review to acquaint you with this amazing product from LIC.

Jeevan Anurag is an excellent insurance plan with a set of innovative features and benefits from LIC, one of the world’s largest and India’s most trusted insurers. This plan has been carefully conceptualized and designed by LIC to help policyholders deal with the ever-increasing educational expenses.

Parents looking to ensure quality education for their children may choose to take this LIC plan in their life. Policyholders get to enjoy both assured and death benefits, under this plan. The benefits under this policy are payable at pre-defined periods, regardless of whether the policyholder can make it to the end of the policy term or is deceased during the policy term.

  • Assured Benefit – A 20% of the Basic Sum Assured is payable during the last three policy term years before maturity. At the end of the policy term, 40% of the Basic Sum Assured along with reversionary bonuses are paid. These bonuses are declared periodically on full Sum Assured for the full term and the terminal bonus.

  • Death Benefit – If the policyholder is deceased during the policy term, the Sum Assured is immediately paid to the nominee.

Now that you know about Jeevan Anurag (Table 168) LIC policy, it’s time to get acquainted with some of its many amazing LIC Jeevan Anurag features and benefits.

Benefits & Features of LIC Jeevan Anurag

  1. Premiums

    You may opt to pay the premiums yearly, half-yearly, quarterly, monthly, till a pre-defined premium paying term or till the earlier death of the policyholder. Alternatively, you may also choose to pay the premium through for Salary deduction or a lump-sum payment.  

    The premium paying term is equal to the term of policy or three years less than the maturity of the policy.

  2. Bonuses

    Jeevan Anurag LIC Policy is a with-profit plan and policyholders get to earn bonuses. Simple Reversionary Bonuses (per thousand Sum Assured) are declared at the end of every financial year for the entire policy term until the final payment is done. 

    These Simple Reversionary Bonuses become a part of guaranteed benefits, once declared. In addition, policyholders may also avail of an additional bonus if regular premium payments have been made for a specified period.

  3. Death Benefit

    In the table below, the period denotes the time when benefits are payable and the Payable Amount denotes the payable amount.

    Period Payable Amount
    3 years before policy maturity date 20% of Sum Assured Value
    2 years before policy maturity date 20% of Sum Assured Value
    1 year before policy maturity date 20% of Sum Assured Value
    On the maturity of policy 40% of Sum Assured + vested Simple Reversion + Final Bonus, if any
  4. Survival Benefits

    Same benefits (as per the table above) are payable to the policyholder, under this plan, on survival till the maturity date of the policy.

  5. Supplementary/Extra Benefits

    Policyholders may avail of extra protection and benefits under this plan by paying an additional premium.

  6. Guaranteed Surrender Value

    Policyholders may surrender their policy. However, it can be done only after the successful renewal of the policy for 3 years or more. The guaranteed surrender value equal to 30% of the premiums under the basic plan is paid, excluding the first year’s premium and extra premiums, if any. 

    For a single premium policy, the guaranteed surrender value is equal to 90% of the single premium paid, excluding any extra premium, if any.

  7. Policy Surrender

    The insurer will pay a Special Surrender Value. This value is either equal to or more than Guaranteed Surrender Value. This value is a discounted value of the reduced claim amount, which is payable on death or at maturity.  The value depends on the period for which the policyholder has successfully made premium payments and the period of policy at the date of surrender. 

    Under some circumstances, the surrender value payable may turn out to be even lesser than the total premium paid, in case of early policy termination.

Note: The key features mentioned here are for illustrative purposes only. For more and updated policy details, please refer to your policy documents.

There you have it - the features and benefits of the Jeevan Anurag policy.

But before you jump into action, make sure to read the policy details and eligibility conditions for the Jeevan Anurag policy.

Eligibility Conditions

  • Age at Entry - 20 to 60 years (age nearest birthday)

  • Age of the Life Assured at Maturity - Maximum 70 years (age nearest birthday)

  • Term - All terms from 10 to 25 years. In case of a single premium policy, minimum term shall be 5 Years.

  • Minimum Sum Assured - Rs. 50,000

  • Maximum Sum Assured – There is no limit. However, Sum Assured must be in multiples of Rs 5,000 only.

  • Premium Payment Mode - Yearly, Half-yearly, Quarterly, Monthly or through salary deductions in case of regular premiums.


  1. Payment Mode Rebate

    Policyholders can enjoy 2% and 1% rebates if they choose to pay yearly and half-yearly premiums. Those paying the premium on quarterly and SSS modes don’t qualify for any premium payment mode rebate. A 5% extra will be charged on the premium if you choose to pay monthly.

  2. Large Sum Assured Rebate

    For Sum Assured equal to or higher than Rs 1,05,000, policyholders get to enjoy a 2% of the Sum Assured, where the Sum Assured value is equal to or higher than Rs 1,05,000. There is no rebate for Sum Assured value equal to or up to Rs 1,00,000.

Over to You!

So, now you know everything about LIC Jeevan Anurag Plan (Table 168). Go for it if you’re looking to save sizeably for your child’s better education.

Got questions about LIC’s Jeevan Anurag Policy? Leave us a comment and we’ll be more than happy to answer all your queries.

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