LIC Jeevan Anand Bonus Calculator

Jeevan Anand LIC Policy Benefits

1. Death Benefit

   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

   • Sum Assured on Death is defined as higher of:
   • 125% of the Basic Sum Assured as per policy terms,
   • 7 X (Annualized premium)
   • Subject to a minimum of 105% of the total premiums payable as on date of death
   • On the insured’s death, the Basic Sum Assured is paid as the death benefit to the nominee and the plan terminates.

2. Maturity Benefit

   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.

3. Participation In Profits Benefit

   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.

Benefit Illustration

LIC’s Jeevan Anand Calculator

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:

Hence, the LIC calculator works keeping in mind,

• Basic sum assured
• Age
• Policy term
• Requirement of the riders

Eligibility Conditions and Other Restriction

Options Available

Some options available under LIC New Jeevan Anand are:

1. Riders Benefit

   • LIC’s Accidental Death and Disability Benefit Rider
   • LIC’s Accident Benefit Rider
   • LIC’s New Term Assurance Rider
   • LIC’s New Critical Illness Benefit Rider

2. Option to take death benefit in installments

   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/

Rebates

LIC New Jeevan Anand - Product Specification

Required Documents

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:

• Correctly filled Application form/Proposal form
• Address Proof
• Age Proof
• Other KYC documents: PAN Card, Adhaar Card, Tax Details, etc.
• Medical History

Medical Diagnosis Reports as required

Conclusion

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.