LIC’s New Jeevan Anand Plan is a Non-linked, Participating, Individual, Life Assurance plan which offers an attractive combination of protection and savings. This combination offers financial protection against the unfortunate demise throughout the lifetime of the policyholder. Through its loan facility, this plan also takes care of liquidity needs.
Save Upto ₹46,800 in tax under Sec 80C
₹ 1 Crore
Invest 10k Per Month*Tax Free Returns Unlike FD
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
In case of the demise of the insured person, the beneficiary of policy LIC Jeevan Anand is payable of total Sum Assured amount along with the Simple Reversionary Bonus and Final Additional Bonus, if any, shall be payable.
Sum Assured on Death + Accrued Bonuses
In case the life insured survives the entire tenure of the policy then a Basic Sum Assured amount along with the Accrued Bonus or Simple Reversionary Bonus and Final Additional Bonus, is paid to the insured as maturity benefit after the completion of the whole policy year. Here Sum Assured on Maturity is equal to Basic Sum Assured.
This LIC policy for 15 years shall participate in profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation during the policy in force.
Age of the life assured (Nearer Birthday) |
30 Years |
Policy Term |
35 Years |
Premium Payment Mode |
Yearly |
Basic Sum Assured |
1,00,000 |
Premium (Excluding Taxes) |
3,165 |
Jeevan Anand’s calculator makes the task of calculating maturity and bonus amounts much more easily. Premiums mentioned below are calculated using the LIC Jeevan Anand Bonus Calculator for Basic Sum Assured of 1 lakh:
Age |
Policy Term |
||
15 |
25 |
35 |
|
20 |
7,747/- |
4,341/- |
2,935/- |
30 |
8,080/- |
4,581/- |
3,165/- |
40 |
8,644/- |
5,037/- |
3,636/- |
50 |
9,575/- |
5,846/- |
|
Hence, the LIC calculator works keeping in mind,
Minimum Basic Sum Assured |
100000 |
Maximum Basic Sum Assured |
No Limit |
(The Basic Sum Assured shall be in multiples of 5000/-) |
|
Minimum Age at entry |
18 years (completed |
Maximum Age at entry |
50 years (nearer birthday |
Maximum Maturity Age |
75 years (nearer birthday |
Minimum Policy Term |
15 years |
Maximum Policy Term |
35 years |
Some options available under LIC New Jeevan Anand are:
This option is to receive the death benefit in installments of 5, 10, or 15 years rather than a lump-sum amount under an in force as well as paid-up policy.
Have a look at the illustration for a better understanding
Mode of Installment payment |
Minimum installment amount |
Monthly |
5,000/ |
Quarterly |
15,000/ |
Half-Yearly |
25,000/ |
Yearly |
50,000/ |
Mode Rebate: |
|
Yearly mode |
2% of Tabular Premium |
Half-yearly mode |
1% of Tabular premium |
Quarterly, Monthly mode & Salary Deduction |
NIL |
High Sum Assured Rebate on Premium: |
|
Basic Sum Assured (B.S.A) |
Rebate |
1, 00,000 to 1, 95,000 |
Nil |
2, 00,000 to 4, 95,000 |
1.50%o B.S.A. |
5, 00,000 and 9, 95,000 |
2.50%o B.S.A. |
10, 00,000 and above |
3.00%o B.S.A |
Product Name |
LIC New Jeevan Anand |
Entry Age |
18/50 Years |
Maturity Age |
Up to 75 Years |
Policy Term |
15/35 Years |
Premium Payment Term |
Same as Policy Term |
Premium Paying Frequency |
Annual/Half Yearly/ Quarterly/ Monthly |
The documents required to be insured under this insurance plan are subject to the sum assured amount chosen and the premiums paid for it. Below are some of the basic documents required for getting insured by the LIC policies:
Medical Diagnosis Reports as required
Jeevan Anand is a perfect blend of an endowment plan and a whole life plan. It is very easy to calculate LIC Jeevan Anand premium by simply keeping in mind the Basic sum assured, age, and policy tenure.
The important thing before buying any policy is to keep in mind all the benefits and features, and how much suitable it is for you and your family.