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LIC Jeevan Anurag Plan

Smart parents often do two things very well:

First, they cultivate a conscience in their kids and allow them to pursue things of their interest and skills. Second, they invest sizeably for their child’s education needs, well in advance.

After all, it is dream for almost all parents to make sure that their kids get to study in the best educational institutions and pursue the best career options, without having to think about budget.

But you’re probably wondering:

How do I find child education policy that ensures quality education for my children, even when I am not around?”

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

What’s 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 policy holders’ deal with the ever-increasing educational expenses of their children.

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

  • Assured Benefit – Under this plan,20% of the Basic Sum Assured is payable at the start of each year, during the last three policy years, before the policy term comes to an end. At the end of the policy term, 40% of the Basic Sum Assured along with reversionary bonuses that’s declared from time to time on full Sum Assured for the full term and the Terminal bonus, if any shall are liable to be paid.
  • Death Benefit – If the policy holder 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 earlier death of the policy holder. Alternatively, you may also choose to pay the premium through for Salary deduction or in one-go through 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.

  1. Bonuses: Jeevan Anurag LIC Policy is a with-profit plan and policy holders 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, policy holders may also avail an Additional Bonus if regular premium payments have been made for a specified period of time.
  2. Death Benefit: Here’s a table giving pre-specified benefits. 

Here period denotes the time when benefits are payable and Payable Amount denotes the amount that’s payable.


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 years 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

  1. 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.
  2. Supplementary/Extra Benefits: Policy holders may avail extra protection and benefits under this plan by paying an additional premium.
  3. Guaranteed Surrender Value: Policy holders 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 is equal to 30% of the premiums under Basic Plan paid, excluding the first year’s premium and the extra premiums, if any. For single premium policy, the guaranteed surrender value is equal to 90% of the single premium paid, excluding any extra premium, if any.
  4. Corporation’s Policy on Surrenders: 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.  This value, typically, depends on the period for which the policy holder 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.

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

So, 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 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 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.


  • Payment Mode Rebate: Policy holders get to enjoy 2% and 1% rebate, if they choose to pay their premiums, yearly and half-yearly, respectively. Those paying the premium on quarterly and SSS modes don’t qualify for any premium payment mode rebate. On the other hand, 5% extra will be charged on the premium, if you choose to pay monthly.
  • Large Sum Assured Rebate: For Sum Assured equal to or higher than Rs.1,05,000/-, policy holders 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/-.

You may also Like to Read: How to Check LIC Policy Status online & by SMS

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.

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

Written By: PolicyBazaar - Updated: 01 November 2019