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 a 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 thinking about budget.

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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 than you thought! Go for LIC 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 policyholders 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 in their own life. Policyholders 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 policyholder can 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 and reversionary bonuses that are declared from time to time on full Sum Assured for the full term and the Terminal bonus, if any, are liable to be paid.
  • 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's (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

  • 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 in one go through a lump-sum payment.
    The premium paying term is equal to the term of the policy or three years less than the policy's maturity.
  • 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 made. 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 of time.
  • Death Benefit: Here’s a table giving pre-specified benefits.
    Here period denotes the time when benefits are payable, and Payable Amount denotes the payable amount.


    Payable Amount

    3 years before the policy maturity date

    20% of Sum Assured Value

    2 years before the policy maturity date

    20% of Sum Assured Value

    1 year before the policy maturity date

    20% of Sum Assured Value

    On the maturity of the policy

    40% of Sum Assured + vested Simple Reversion + Final Bonus, if any

  • 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.
  • Supplementary/Extra Benefits: Policyholders may avail of extra protection and benefits under this plan by paying an additional premium.
  • 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 is equal to 30% of the premiums under the Basic Plan paid, excluding the first year’s premium and the 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.
  • 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, payable on death or at maturity. This value, typically, 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.

Please Note: The key features mentioned here are for illustrative purposes 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 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 the case of a single premium policy, the 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: Policyholders get to enjoy a 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/-, 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.

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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Nothing is more important than securing your child's future

  • Life Cover paid to family to meet immediate expense
  • Future premiums are paid by the Insurance Company

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