LIC Jeevan Anand Bonus Calculator

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.

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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

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

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:

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,

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

Eligibility Conditions and Other Restriction

 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

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

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

LIC New Jeevan Anand - Product Specification

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

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.

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 4 Reviews)

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LIC Jeevan Anand Bonus Calculator Reviews & Ratings

4.8 / 5 (Based on 73 Reviews)
(Showing Newest 10 reviews)
Meer
Chalakudy, April 16, 2021
Easy claim settled
I bought the Lic India term plan from the suggestion of my family friend and he recommended me a lot of plans. He said that the claim settlement ratio is quick and easy. Also, it is protective plan.
Ram
Balasore, April 16, 2021
Child security fulfilled
I have bought a Lic India child plan online and it has been a year now. I like the way the this works. It is a nice plan I got for my child’s security.
Jyotsana
Asifabad, April 14, 2021
Additional riders
Along with my Lic India term insurance plan I have got the additional riders too. It has been an important thing for me and can be useful at any point in time. It can be added with a minimal amount.
Anubha
Mainpuri, April 14, 2021
Low premium
The premium rate of the child insurance plan of LIC India which I bought 3 years ago is best and it was under my budget. I was searching for some good plans related to child insurance. I got the way of buying this plan and loved it.
Nimesh
Lakhimpur Kheri, April 13, 2021
Tax rebate
I bought a Lic India term insurance policy online and it has been into my budget. Also, I like one thing that I would able to get the tax benefits under it. It is a good option and can be beneficial for all tax payers.
Amisha
Babina, April 13, 2021
Maturity benefits to get
It is easy to get the maturity benefits when LIC India child plan gets matured and my child would get a better return. It would be easy for him to get the best education and can go for a higher education abroad.
Jay
Lakhimpur, April 12, 2021
Safety
I feel safe and secured for my family when I will be not around. The Lic India ULIP plan will give the better returns and maturity benefits. And will be quite helpful for my family to sustain their future.
Amit
Raghunathpur, April 09, 2021
Happy customers
I am one of the happiest customer of Lic India term plan and I have found various good deals. It is the plan which has come under my budget. And it has been a protective shield for me and my family.
Ashok
Mota Chiloda, April 09, 2021
Great plan
I am happy with this plan and have recommended many people for the same. I bought the Lic India ulip plan 2 years back and It is a best kind of investment.
Azam
, April 09, 2021
Good Benefits
It is important for everyone to understand that benefit is must when you are buying a child insurance plan. I bought a beneficial child plan of LIC India.
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