For many Indian families, striking the perfect balance between financial security and wealth creation can feel challenging. That’s where the LIC Jeevan Anand Policy stands out. For a monthly premium as low as ₹1,358—less than the cost of your daily coffee—you can secure your family’s future and potentially build a corpus of ₹25 lakh.
This plan offers dual benefits: it’s both a life insurance policy and a savings tool, making it an ideal option for long-term planners and peace-of-mind seekers alike.
How LIC Jeevan Anand Works
LIC Jeevan Anand is a participating endowment plan, meaning it combines guaranteed benefits with bonuses declared by LIC based on performance. The most unique aspect? Even after the policy matures and you receive the maturity amount, the life cover continues for life—at no additional cost.
It’s like getting a savings plan + lifelong insurance bundled into one.
LIC Jeevan Anand – Key Details at a Glance
| Category | Details |
|---|---|
| Policy Type | Participating Endowment Plan (Non-Linked) |
| Plan Number | 815 (New), 814 (Earlier Version) |
| Minimum Sum Assured | ₹1,00,000 (No upper limit) |
| Policy Term | 15 to 35 years (based on entry age) |
| Premium Payment Term | Same as policy term |
| Entry Age | 18 to 50 years |
| Maturity Age | Up to 75 years |
| Premium Frequency | Monthly, Quarterly, Half-Yearly, Yearly |
| Grace Period | 15 days (Monthly), 30 days (Other modes) |
| Loan Facility | Available after 3 years |
| Surrender Value | Available after 3 years |
| Death Benefit | Sum Assured + Accrued Bonuses |
| Maturity Benefit | Sum Assured + Bonuses + Final Additional Bonus |
| Riders | Accidental Death & Disability, Term Rider |
| Tax Benefits | Section 80C & 10(10D) |
| Post-Maturity Risk Cover | Lifetime coverage (without bonuses) |
Premium & Maturity Illustration
Here’s what you can expect based on age and term with a ₹10 lakh sum assured:
| Entry Age | Policy Term | Monthly Premium (₹) | Total Premium Paid (₹) | Estimated Maturity Value (₹) | Life Cover After Maturity |
|---|---|---|---|---|---|
| 25 years | 35 years | 1,310 | ₹5.51 lakh | ~₹26 lakh | ₹10 lakh (lifetime) |
| 30 years | 35 years | 1,358 | ₹5.70 lakh | ~₹25 lakh | ₹10 lakh (lifetime) |
| 35 years | 30 years | 1,420 | ₹5.11 lakh | ~₹22 lakh | ₹10 lakh (lifetime) |
| 40 years | 25 years | 1,690 | ₹5.07 lakh | ~₹20 lakh | ₹10 lakh (lifetime) |
| 45 years | 20 years | 1,880 | ₹4.51 lakh | ~₹18 lakh | ₹10 lakh (lifetime) |
Note: Maturity value includes estimated bonuses. Actual returns depend on LIC’s declared rates.
Key Benefits of LIC Jeevan Anand
| Feature | Description |
|---|---|
| Lifetime Insurance | Life cover continues even after maturity. |
| Bonus Accumulation | Earn yearly simple reversionary bonuses + FAB (Final Additional Bonus). |
| Loan Facility | Avail loans up to 90% of surrender value after 3 years. |
| Tax-Free Returns | Maturity and death benefits are tax-free under Section 10(10D). |
| Flexible Payments | Choose from monthly, quarterly, half-yearly, or yearly premiums. |
| Rider Options | Add AD&D or term rider for enhanced coverage. |
How ₹1,358/month Can Grow to ₹25 Lakh
Let’s take a 30-year-old opting for a 35-year term. They pay around ₹1,358 monthly—₹5.7 lakh in total over the term. Thanks to compounding bonuses and LIC’s performance, the maturity amount could reach ~₹25 lakh, almost 3x the invested amount. The real growth occurs in later years as bonuses accumulate.
It’s a smart strategy for long-term savers, especially those who value low-risk and disciplined investing.
Who Should Consider This Policy?
- Young Professionals starting long-term savings
- Parents planning for education or marriage expenses
- Individuals seeking stable, low-risk alternatives to market-linked investments
- Anyone wanting lifetime life insurance without paying after maturity
The automatic, scheduled premium payments also build financial discipline over time.
Things to Keep in Mind
| Point | Explanation |
|---|---|
| Bonuses Are Not Guaranteed | They depend on LIC’s future performance. |
| Long-Term Commitment Required | Withdrawing early reduces benefits significantly. |
| Inflation Impact | ₹25 lakh today won’t have the same value in 35 years. |
| Diversification Matters | Combine with other instruments (mutual funds, PPF, etc.) for balanced growth. |
Final Thoughts
LIC Jeevan Anand is best suited for conservative investors looking for a reliable, long-term savings plan with the added benefit of lifetime insurance. It’s ideal for those who prefer guaranteed returns over market volatility.
However, before committing, take a holistic look at your finances. Evaluate your insurance needs, investment goals, and risk appetite. Talk to an LIC agent for projections or consult a certified financial planner for unbiased advice.
FAQs
Does the policy provide coverage after maturity?
Yes, the policy continues to offer life coverage for the full sum assured even after maturity.
Is the maturity amount taxable?
No, it is completely tax-free under Section 10(10D), subject to prevailing tax laws.
Can I take a loan against this policy?
Yes, you can take a loan after 3 years, up to 90% of the surrender value.
What happens if I miss a premium payment?
You get a grace period (15 or 30 days) to pay. If still unpaid, the policy may lapse but can be revived later.
What if I want to exit the policy early?
You can surrender the policy after 3 years, but the returns will be lower than staying for the full term.