What is LIC Jeevan Anand 1 Lakh Policy?
Jeevan Anand 1 Lakh policy is a traditional life insurance plan that is designed for those individuals who are willing to financially support the future of their loved ones and at the same time do not want to burden their pockets with heavy premiums. The Life Insurance Corporation of India (LIC) offers this Jeevan Anand 1 Lakh policy that provides several benefits to the policyholder and his/her loved ones.
Advantages of LIC Jeevan Anand 1 Lakh Policy
LIC New Jeevan Anand comes with several benefits including:
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Death Benefit
If the policyholder dies during the policy term, the nominee will receive a death benefit which will be equal to (Sum Assured on Death+ vested Simple Reversionary Bonus + Final Additional Bonus if any). The sum assured on death paid will be the higher of 7 times of annualized premium or 125% of the Basic Sum Assured.
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Maturity Benefit
If the policyholder survives till the end of the policy term, the “Sum Assured on Maturity” with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, will be paid.
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Tax Benefits
Premiums paid against LIC Jeevan Anand are eligible for tax deductions under Income Tax Act 1961.
Sample Illustration of LIC Jeevan Anand 1 Lakh Policy
Take a look at the sample premium illustration of a 30-year-old male, who chose to buy LIC Jeevan Anand 1 Lakh policy for a tenure of 20 years.
Premium Payment Mode |
Annually |
Half-yearly |
Quarterly |
Monthly |
Premium Payable (in Rs.) |
6,150 |
3,106 |
1,569 |
523 |
How to Buy LIC Plans from Policybazaar?
Follow the below steps to buy LIC Plans from Policybazaar:
Step 1: Visit Life Insurance Corporation of India.
Step 2: In the form, fill your name and contact number.
Step 3: Click on “view plans”.
Step 4: Next, enter your current age and residential city.
Step 5: You can customize the amount and tenure of your plans at your convenience.
Step 5: Check the details, and proceed to make an online payment.
Note** You can buy LIC policy offline from Policybazaar. We provide door-to-door services by which you can easily buy your best-suited policy.
Summing it up
Protecting the financial future of your family with affordable premiums of LIC Jeevan Anand 1 Lakh policy is one of the best gifts you can give to your family. The plan offers coverage of 1 Lakh without burdening your pockets and ensures that your family can survive after your demise. Also, in case you outlive the policy tenure, the maturity benefit can be used in the future to fulfill your financial milestones.