(LIC Jeevan Anand Policy News) : Investing in a life insurance plan is crucial for securing your future and ensuring financial stability for your family. LIC’s Jeevan Anand Policy is one such plan that offers dual benefits of life cover and savings. With just ₹1358 per month, you can accumulate a sum of ₹25 lakh after a specified period.
In this article, we will break down all the essential details of LIC Jeevan Anand Policy, including its benefits, eligibility, premium payment structure, and payout calculations.
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What is LIC Jeevan Anand Policy?
LIC Jeevan Anand is a participating, non-linked life insurance plan that combines savings and protection. It provides financial security throughout the policy term and a lump sum payout at maturity. Unlike regular insurance plans, this policy also offers a lifelong cover even after maturity.
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Key Features:
- Dual Benefit: Life insurance protection + Savings.
- Lifelong Cover: Provides coverage even after maturity.
- Bonus Benefits: Eligible for LIC’s annual bonuses.
- Loan Facility: Can avail a loan against the policy.
- Flexible Tenure: Choose between 15 to 35 years.
- Affordable Premiums: Low monthly investments.
- Maturity Benefit: Lump sum amount along with bonuses.
How to Get ₹25 Lakh by Investing ₹1358 Per Month?
The payout under LIC Jeevan Anand depends on the policy term and sum assured. If you invest ₹1358 per month, you can get ₹25 lakh at the end of the policy term.
Here’s how the investment works:
Premium and Maturity Calculation
| Plan Details | Value |
|---|---|
| Monthly Premium | ₹1358 |
| Yearly Premium | ₹16,296 |
| Policy Term | 35 Years |
| Total Premium Paid | ₹5,70,360 |
| Sum Assured | ₹10,00,000 |
| Bonus & Additions | ₹15,00,000 |
| Total Maturity Amount | ₹25,00,000 |
- The monthly premium of ₹1358 accumulates over the years, and with bonuses and additions, the total amount reaches ₹25 lakh.
- Even after maturity, the policyholder continues to have life coverage.
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Eligibility Criteria for LIC Jeevan Anand
Before investing, check whether you meet the eligibility requirements:
Age & Term Requirements
| Criteria | Minimum | Maximum |
|---|---|---|
| Entry Age | 18 Years | 50 Years |
| Maturity Age | – | 75 Years |
| Policy Term | 15 Years | 35 Years |
| Sum Assured | ₹1,00,000 | No Limit |
- The plan is available for individuals aged between 18 to 50 years.
- The minimum policy term is 15 years, while the maximum is 35 years.
- Sum assured starts from ₹1 lakh, but there is no upper limit.
LIC Jeevan Anand: Benefits & Features Explained
1. Maturity Benefit
At the end of the policy term, the policyholder receives the sum assured + accumulated bonuses, making it a lucrative investment.
2. Death Benefit (Before Maturity)
In case of the policyholder’s unfortunate demise before maturity, the nominee receives the sum assured + accrued bonuses.
3. Life Cover Even After Maturity
Unlike other plans, Jeevan Anand provides lifetime coverage after the payout.
4. Bonus Benefits
LIC declares annual bonuses that are added to your policy, increasing your total returns.
5. Loan Facility
If you need funds urgently, you can avail a loan against your policy.
6. Tax Benefits
- Premiums paid qualify for tax deductions under Section 80C.
- Maturity and death benefits are tax-free under Section 10(10D).
LIC Jeevan Anand Premium Payment Options
Modes of Premium Payment
LIC provides multiple payment options to make it convenient for policyholders:
- Monthly
- Quarterly
- Half-Yearly
- Annually
You can choose any payment mode based on your financial preference and convenience.
How to Apply for LIC Jeevan Anand Policy?
If you are interested in investing, here’s a step-by-step guide to applying:
Steps to Apply
- Visit the LIC website or go to the nearest LIC branch.
- Consult an LIC agent to get a premium calculation.
- Choose your policy term and sum assured.
- Submit required documents:
- Aadhaar Card
- PAN Card
- Address Proof
- Income Proof
- Passport-size Photograph
- Complete the medical test (if required).
- Pay the first premium and receive your policy document.
Alternatively, you can also apply online through LIC’s portal.
LIC Jeevan Anand vs Other LIC Plans
To help you understand why Jeevan Anand is a preferred choice, here’s a comparison with other LIC policies:
Comparison Table
| Feature | LIC Jeevan Anand | LIC New Endowment | LIC Jeevan Labh |
|---|---|---|---|
| Maturity Benefit | Yes | Yes | Yes |
| Lifelong Cover | Yes | No | No |
| Bonus Eligibility | Yes | Yes | Yes |
| Loan Facility | Yes | Yes | Yes |
| Premium Flexibility | Yes | Yes | Yes |
| Minimum Policy Term | 15 Years | 12 Years | 16 Years |
- Jeevan Anand stands out due to its lifelong cover after maturity.
- It offers similar bonus benefits as other plans.
- Flexibility in policy tenure makes it a great option.
FAQs About LIC Jeevan Anand Policy
1. Is LIC Jeevan Anand a good investment?
Yes, it provides both insurance and savings benefits, making it a great long-term investment.
2. Can I surrender the policy before maturity?
Yes, but it is advisable to wait until at least 3 years for surrender benefits.
3. How much bonus does LIC Jeevan Anand offer?
Bonuses depend on LIC’s annual performance, but it can significantly increase your final payout.
4. Is the maturity amount taxable?
No, the maturity amount is tax-free under Section 10(10D).
5. Can I increase the sum assured later?
No, once the policy is issued, the sum assured remains fixed.
LIC Jeevan Anand is a smart investment choice for those looking for long-term savings along with life protection. With just ₹1358 per month, you can accumulate ₹25 lakh while securing your family’s future.
This plan is suitable for individuals looking for stable returns, tax benefits, and lifelong insurance coverage. If you are planning to invest in a safe and guaranteed savings plan, LIC Jeevan Anand is worth considering.
Before investing, consult an LIC agent to get a personalized quote based on your age and financial goals.
This article is for informational purposes only. The actual benefits, bonuses, and returns may vary based on LIC’s policies and annual performance. It is recommended to consult with an LIC representative for the most accurate details.