New

Jeevan Aanand

Zindagi Ke 
Saath
Baad
 Bhi

LIC’s New Jeevan Anand 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 lumpsum at the end of the selected policy term in case of his/her survival. This plan also takes care of liquidity needs through its loan facility.

A plan that offers cover for whole life.
Even after payment of maturity amount.

+

Minimum Age

Policy Holder’s Minimum Entry Age

-

Maximum Age

Policy Holder’s Maximum Entry Age

-

Maturity Age

Policy Holder’s Age at Policy Maturity

+

Minimum Years

Policy Term is minimum 15 years

-

Maximum Years

Policy Term is Maximum 35 years

Minimum Sum Assured

Minimum Insurance Amount To Start Policy

No Limit

Maximum Sum Assured

Minimum Insurance Amount To Start Policy

Yearly
Half-Yearly
Quarterly
Monthly 

Premium Payment Mode

Pay Premium As Per Your Convinience

LIC's New
Jeevan Anand

LIC New Jeevan Anand Plan is fundamentally ideal to those, who looking for an attractive combination of protection & savings.​

LIC’s Jeevan Anand Plan is a traditional savings plan which not only covers the insured for the chosen policy term, but the life cover continues after the completion of the policy term till the entire life of the insured. The plan also earns bonuses during the plan term. Thus, the plan is an Endowment cum Whole Life Insurance Plan.

Policy Benefits

01.

Death Benefit

01.

Death Benefit

01. If the insured dies within the policy term, the Sum Assured and accumulated bonuses are paid.

02. If the insured dies after the completion of the plan term when the Maturity Benefit is already been paid, the Sum Assured is paid.

02.

Maturity Benefit

02.

Maturity Benefit

When the plan term expires and the insured is alive, the Sum Assured and any accumulated bonuses are paid.

03.

Optional Benefit

03.

Optional Benefit

LIC Accidental Death and Disability Benefit Rider is an optional rider benefit that you will get on paying the extra premium.

04.

Loan Benefit

04.

Loan Benefit

As the three years of the policy gets completed, the policy becomes eligible to acquiring the loan against the policy.

05.

Tax Benefit

05.

Tax Benefit

Available under Section 80C and Section 10 (10 D) of the Income Tax Act

Listen Expert's Advice

A term plan offers only the death benefit, an endowment plan offers both the death and the maturity benefits. Endowment plan offers an added advantage as it provides the sum assured as the maturity benefit if the policyholder outlives the policy term.

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LET LOOK AT EXAMPLE BELOW FOR MORE TO UNDERSTAND

Example

Let us consider one example of Mr. Vishal, a 26-year-old IT professional who opts for the LIC’s New Jeevan Anand plan having a sum assured of the amount of Rs. 5,00,000 for a policy term that is of 21 years. Let us assume that Vishal will be paying the yearly premium amount of Rs. 27, 454. In the case that Vishal survives the policy period, then he will receive a maturity benefit of the amount of Rs.11,02,000. In case if Mr. Vishal passes away before the end of the policy, then his nominee would receive 125% of the entire sum assured, as well as various other bonuses as applicable.

LIC's New
Jeevan Anand

Key Features

  • This plan is an endowment cum whole life plan
  • Maturity Benefit is Sum Assured + accrued Bonus and the Life Cover continues till death
  • Death Benefit after Policy Maturity is only Sum Assured
  • Death Benefit before Policy Maturity is Sum Assured + Accrued Bonus
  • Simple Reversionary Bonus is payable on maturity or earlier death.
  • Accidental Death & Disability Benefit is an inbuilt feature in Plan
  • Optional higher cover : 1 additional rider of Critical Illness Benefit.
  • This plan can be provided to people with hazardous occupation with additional premium.
  • Large Sum Assured rebate is also provided
2408/month

Pay for the Jeevan Aanand monthly at age : 18 yrs, Term : 35 yrs, Sum Assured : 10 Lac

₹ 10,00,000 /-

Basic Sum Assured

₹ 10,00,000 /-

Double Sum Assured

₹ 12,50,000 /-

Death Sum Assured

* Disclaimer : Premium shown above is Indicative not Exact, Actual Premium may very according to underwriting rules applicable.

Additional Benefits

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  • Riders

Accidental Death & Disability Benefit Rider

This LIC plan provides riders in the form of the LIC’s Accidental Death and Disability benefit. One may avail such an optional rider by paying an additional premium for it during the policy process. 

The Accident benefit sum assured benefit would be paid in the case of death due to an accident occurring during the policy period. In case of a permanent disability because of the accident, an amount equivalent to the Accident benefit sum assured would be paid, but in the form of monthly installments.

  • Rebates

Premium Mode Rebate

  • 2% On Yearly
  • 1% On Half-Yearly

High Sum Assured Rebate

Sum Assured
Rebate
From Rs. 1,00,000/- to Rs. 2,00,000/-
NIL.
From Rs. 2,00,000/- to Rs. 4,95,000/-
For every Rs. 1,000/- Sum Assured Rs 1.50/- rebate.
From Rs. 5,00,000/- to Rs. 9,95,000/-
For every Rs. 1,000/- Sum Assured Rs. 2.50/- rebate.
From Rs. 10,00,000/- and above
For every Rs. 1,000/- Sum Assured Rs. 3.00/- rebate.

What Happens If...

Claim Process

Death Claim

The entitled nominee must present the claims form and the original policy documents as given by LIC. Additionally, the nominee must be required to provide all the details and the applicable documents, such as the bank account details, the death certificate, the medical treatment details before death, etc.

Maturity Claims

The individual insurance holder has to provide a filled claim form that is attached to the original policy documents, in the name of a policyholder. Additionally, the individual policyholder has to give bank account details for NEFT transfer of the maturity amount.

Surrender Claims

The insurance holder has to give the filled claim form that is attached along with the original policy document, in the name of a policyholder, along with the bank details for the NEFT transfer of the surrender benefits as applicable.

Role Of Tax

Tax Benefits in LIC Jeevan Anand Plan

ALL PREMIUMS PAID

All the premiums that are paid under this plan will be tax-free under section 80 C of the Income Tax Act. The maximum exemption that a person can avail under the same will be around Rs.1.5 lakhs. To claim this exemption, the premium should be restricted to 10% of the Sum Assured selected.

MATURITY CLAIM

The maturity amount will be tax-free under Section 10(10D). To claim this exemption, the Sum Assured should be at least 10 times the premium amount paid.

SURRENDER CLAIMS

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Documents Required For Buying The LIC New Jeevan Anand Plan

  • Completely filled Application form/Proposal form with accurate information
  • Age Proof
  • Address Proof
  • Medical History
  • KYC Documents Such As Adhar Card, Pan Card, Tax Details Etc.
  • Medical Dignosis Reports as needed

Documents Required For Making Death Claims

To make a death claim, the nominee shall have to produce the here mentioned documents along with the claim form.

  • Original Policy Documents
  • Documents Pertaining To Riders
  • Bank Account Details
  • Death Certificate
  • Treatment Records Of The Policyholder (If Any)

Freqently Ask Questions

*GST of 18% is applicable on life insurance effective from the 1st of July, 2017

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