LIC Jeevan Anand
Category
: Life Insurance
Company
: LIC
Eligibility
: February 15, 2025
Rating
:
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Product Summary : Jeevan Anand(715)
Jeevan Anand(715) Plan is a participating non-linked plan which offers an attractive combination of protection and savings. This combination provides financial protection against death throughout the lifetime of the policyholder with the provision of payment of lump sum at the end of the selected policy term in case of his or her survival.
Premium Payment Mode:
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Yearly
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Half Yearly
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Quarterly
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Monthly (ECS)
Terms:
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15 Year
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21 Year
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35 Year
Income Tax Benefit:
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Premium paid under this plan is eligible for TAX rebate under section 80c.
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Maturity under this plan is free under sec 10(10D).
Minimum Entry Age :
18 Year Completed
Maximum Entry Age :
50 Year (Nearest Birthday)
Minimum Sum Assured :
2,00,000
Maximum Maturity Age :
75 Year
Maximum Sum Assured :
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NO LIMIT (Depending upon Income)
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Maximum Accidental Death and Disability Benefit Rider up to age 70.
Policy Benefits On Death :
Provided all due premiums have been paid, the following death benefit shall be paid:
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On Death during the policy term: Death benefit, defined as sum of Sum Assured on Deathand vested Simple Revisionary Bonuses and Final Additional bonus, if any, shall be payable. Where, Sum Assured on Death is defined as higher of 125% of Basic Sum Assured or 7 times of annualised premium. This death benefit shall not be less than 105% of all the premiums paid as on date of death.The premiums mentioned above exclude service tax, extra premium and rider premiums, if any.
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On death of policyholder at any time after policy term: Basic Sum Assured
On Survival :
Basic Sum Assured, along with vested Simple Revisionary Bonuses and Final Additional Bonus, if any, shall be payable in lump sum on survival to the end of the policy term provided all due premiums have been paid.
Surrendered Value :
The policy can be surrendered for cash provided at least two full years premiums have been paid.The Guaranteed Surrender value during policy term shall be a percentage of total premiums paid (net of service tax) excluding extra premiums and premiums for riders, if opted for. This percentage will depend on the policy term and policy year in which the policy is surrendered.
Loan :
Loan can be availed under the policy provided the policy has acquired a surrender value and subject to the terms and conditions as the company may specify from time to time.
Conclusion :
LIC Jeevan Anand is a solid choice for anyone who wants the dual benefit of life-long protection and guaranteed savings in a single plan. Unlike a traditional endowment policy that ends at maturity, Jeevan Anand continues to cover your life even after you receive your lump sum payout, so your family stays financially protected for as long as you live. With flexible terms of 15, 21, or 35 years, multiple premium payment modes, tax benefits under Section 80C and 10(10D), and the option to add an Accidental Death and Disability Rider, it offers a well-rounded package for individuals planning for both long-term security and future goals like a child's education, marriage, or retirement.
If you're looking for a plan that combines disciplined savings with whole-life insurance protection, LIC Jeevan Anand(715) is worth serious consideration. To get a personalized premium quote or understand how this plan fits your specific financial goals, feel free to reach out to our advisors at Policylane — we're happy to help you choose the right coverage for your needs.
LIC Jeevan Anand(715) is a participating, non-linked life insurance plan that combines savings and protection. It pays a lump sum on maturity if the policyholder survives the policy term, and also continues to provide life cover even after maturity, until the policyholder's death.
In a regular endowment plan, the life cover ends once the policy matures. With Jeevan Anand, the Basic Sum Assured continues as life cover even after the policy term ends, so your family receives a death benefit whenever you pass away, even decades after maturity.
The minimum entry age is 18 years (completed), and the maximum entry age is 50 years (nearest birthday).