# LIC Jeevan Anand 149 – Features, Benefits and Maturity Calculator

*LIC Jeevan Anand 149 – Features, Benefits and Maturity Calculator*. Jeevan Anand (Plan 149) is by far one of the most popular insurance

LIC has introduced another similar plan as the successor of Jeevan Anand (149) plan with the name New Jeevan Anand. Read more on New Jeevan Anand (815) – Complete review and calculators.

Table of Contents

## Key Features of LIC Jeevan Anand – Plan 149

- Jeevan Anand plan is a combination of an Endowment Assurance plan and a Whole Life plan.
- Maturity benefit includes Sum Assured + Accrued (Simple reversionary) Bonus + Final addition bonus (If any) and shall be available after the completion of the term.
**Insurance Coverage**equal to the Sum Assured shall continue even after the maturity and**shall be available for lifetime**or 100 years of age whichever is earlier.- Death coverage during the term of the policy shall include Sum assured + Accrued bonus
- Double accident benefit and extended permanent disability is available as an inbuilt benefit under this plan and shall be available during the term of the plan and also till the age up to 70 years. Maximum DAB & EPDB cover will be Rs. 5 lakhs.
- Critical Illness Rider provides coverage for specified critical illnesses and shall be available as an optional rider.

## LIC Jeevan Anand – Plan 149 – eligibility conditions and restrictions

LIC Jeevan Anand 149 – Conditions and restrictions | ||
---|---|---|

Condition | Minimum | Maximum |

Age at entry | 18 years | 65 Years |

Premium Paying Term | 5 Years | 57 Years |

Sum Assured | 1,00,000 | No Limit |

Sum Assured Rebate | ||

Sum Assured | Rebate | |

Up to 2.95 lakh | Nil | |

3 lakh to 4.95 lakh | Rs. 1 per 1000 Sum assured | |

5 lakh to 9.95 lakh | Rs. 1.50 per 1000 Sum assured | |

10 lakh and above | Rs. 1.75 per 1000 Sum assured | |

Mode Rebate | ||

Yearly mode | 3% of tabular premium | |

Half-yearly mode | 1.5% of tabular premium | |

Quarterly, Monthly and SSS | NIL |

## Maturity Benefit of Jeevan Anand 149 plan

** **Maturity benefit of the plan will be payable after the completion of the premium paying term. You should not confuse between the **term** and **premium paying term**. The term of the plan is the period up to 100 years of age. Whereas the premium paying term is the period chosen by the policyholder (between 5 to 57 years).

The maturity benefit shall be the total of the Sum Assured, Accrued bonus and the Final Additional Bonus (as per the declared amount at the year of maturity).

## Latest bonus rates – LIC Jeevan Anand 149 Plan

The plan will have two types of bonuses. One is the simple reversionary bonus which is declared every year and is added to the policy account as and when it is declared. And the second one is Final Additional Bonus which is a one-time payment available at the time of exit from the policy by way of maturity or death.

### Simple Reversionary Bonus – Declared every year

Latest Simple reversionary bonus rates for the plan (per 1000 sum assured) is provided in the table below.

Jeevan Anand – 149 Bonus Rates (per 1000 Sum Assured) | |||
---|---|---|---|

Term | Bonus Rate 2016 Valuation | Bonus Rate 2016 Valuation | Bonus Rate 2016 Valuation |

< 11 Years | 38 | 38 | 38 |

11 to 15 Years | 41 | 41 | 41 |

16 to 20 Year | 45 | 45 | 45 |

> 20 years | 49 | 49 | 49 |

### Final Additional Bonus – one-time bonus paid on exit by maturity or death.

Final Additional Bonus rates applicable for Jeevan Anand plan is as follows. In case of maturity, the term of the policy is considered and on the other hand, in case of death cases, period till death is considered.

Final Additional Bonus Rate – Jeevan Anand 149 | ||
---|---|---|

Term for Maturities / Premium paid period for death claims | FAB rate per 1000 SA | |

Below 2,00,000 | 2,00,000 and above | |

Below 15 | 0 | 0 |

15 | 10 | 20 |

16 | 20 | 35 |

17 | 35 | 50 |

18 | 50 | 75 |

19 | 75 | 100 |

Read more : Bonus rates declared by LIC for the year 2018-19.

## Premium and Benefit Calculator – LIC Jeevan Anand 149

Premium, Benefit and Maturity calculator for LIC Jeevan Anand (Plan 149) is an online calculator to understand all the benefits of the plan in an easy manner. This calculator can provide you all the details such as, what you are paying, the pattern of insurance coverage, maturity benefits, etc. You can supply your own details such as Age, Sum Assured, Term, etc and get complete details of the plan in a table format.

If you are unable to view the premium and benefit calculator for Jeevan Anand Plan here, click to open Jeevan Anand -149 – Premium, Benefit and Maturity Calculator.

## Death coverage of plan 149

Jeevan Anand 149 offers two types of death coverage.

**Death during premium paying term:**Death coverage benefit includes**Sum Assured + Accrued bonus**(as on the date of death)**Death coverage after the premium paying term:**Jeevan Anand plan provided special additional risk coverage equal to the sum assured of the plan even after the premium paying term.

## LIC Jeevan Anand 149 – Example of Benefits.

In order to understand the benefits of Jeevan Anand Plan let us consider an example. Let us assume that a 30 year old person is taking a 10,00,000 policy with term 25 years. The benefits as per the current bonus rates shall be as given below.

Sum Assured considered | 10,00,000 | Term of the plan | 25 Years |

Age of the Life Assured | 30 Years | Accident Disability Benefit | Yes |

Yearly premium required is Rs.41,206 and the premium has to be paid for 25 years. Total premium paid is Rs. 10,30,150. The maturity benefit* of the plan as per the current bonus rate is Rs. 26,35,000. Additional whole life coverage of Rs.10,00,000 also shall be available.

So the total benefit payable form LIC shall be to the tune of Rs.36,35,000, including the whole life coverage.

The benefits shown above are as per the parameters mentioned above. If you want to get the benefit illustration based on your own details, please use the online calculator.

Disclaimer* *The illustrations shown above are as per the current bonus rates of the plan. The amount shown is not guaranteed and the actual returns shown can vary based on the actual experiences of the corporation.*

## What is the Internal Rate of Returns IRR – Jeevan Anand 149

The best method to find out the interest rate offered by an insurance plan is to calculate the Internal Rate of Returns(IRR) it offers. Jeevan Anand is an insurance product and hence naturally there will be loading for providing the insurance benefits. If you want to compare this plan with other savings plans you should remove this loading and then find out the rate of return it offers.

Further to add there will be an additional life long insurance coverage applicable for this plan. In order to understand this benefit let us consider three scenarios

- Death happens during the premium paying term
- Death immediately after the maturity
- Death at the age of 80 Years.

Let us apply these scenarios for the example considered above.

Parameter considered | Scenario 1 | Scenario 2 | Scenario 3 |

Sum Assured | 10,00,000 | 10,00,000 | 10,00,000 |

Term of Plan | 25 Years | 25 Years | 25 Years |

Age of the person | 30 Years | 30 Years | 30 Years |

Death occurs on: | 12th Year | 25th year | 50 Years |

Maturity Benefit | NA | 26,35,000 | 26,35,000 |

So the Internal Rate of Returns(IRR) offered for the plan can vary from 7.09% to 10.45% in the considered scenarios.

## Tax Implications of Jeevan Anand 149

Jeevan Anand plan as other endowment type of plans follow E-E-E (Exempt-Exempt-Exempt) patern as far as income tax is concerned.

- Premium Paid is exempted from income tax as sec 80C of income tax act.
- Maturity amount is income tax-free u/s 10(10D) of income tax act.
- Death coverage including life long coverage also will be tax free u/s 10(10D)

## Surrender value of Jeevan Anand Plan 149

This plan can be surrendered during the premium paying term or even after the maturiy. Let us have a detailed look.

### Surrender during premium paying period

Jeevan Anand plan can be surrendered for a reduced cash value any time after it has acquired paid up value. Inorder to acquire paid up value , Three year has to be completed from date of commencement and 3 full year premium has to be paid.

For all policies where premium has not been paid for at least three years, nothing will become payable.

While calculating the surrender value of any endowment type plan, following are the formulas that become applicable.

If you are thinking of surrendering the plan,my advise is to consider following point before taking a decision.

- You are losing valuable insurance coverage and that too taken at a lower premium as the policy was started several years ago.
- Surrendering of Jeevan Labh plan can bring in a loss as the surrender value can be lower, especially if the premium paid period is for a shorter period.
- If your policy has lapsed and you are unable to revive your policy, a better option is to keep the policy as paid up and get the maturity amount after the end of the term. You will have insurance cover based on the paid up value and full accrued bonus along with paid-up value of the policy can be availed at the time of maturity.

### Surrender of ‘Life Long Coverage’ of Jeevan Anand 149

Jeevan Anand provides free life long insurance coverage even after receiving the maturity amount. Even though it is not advisable to forego the life long insurance coverage, LIC provides a facility to surrender the coverage and obtain the cash value of it.

The amount available on surrender can be calculated from the chart provided above. Surrender value per one lakh sum assured policy is provided in the chart.

Read more:

Can i change the nominee?

Sure You can change your nominee any time. Please approach your nearest branch office to do nomination change.

Hi Anish, Sorry that I’am posting my query on one of your replies. I could not find the other way to do it. I have a Jeevan Anand – 149 policy. Bought in 2013 Jan. I have paid premium for 6 yrs totally. I want to surrender this policy now as i do not wish to continue with it. What will be the returns i will get on surrendering it. SA is 700000 & yearly premium is 35895. Table & Prem paying term as mentioned on policy is 149 / 71 / 21. I’m unable to get clarity from the agent who sold me this policy. Please advise.

Premium paying term is 21 years and you have an insurance coverage up to age 100 which is 71 Years from date of commencement. That is what mentioned.

Hi Sir, For Jeevan Anand 149 Policy, the Policy Term is 71 Yrs and Premium Paying Term is 16 Yrs. Can I surrender the policy after 16 yrs ? Will I get full amount or only partial ?

You will get ‘Maturity amount’ on the sixteenth year, which includes Sum Assured + Bonus + Final addition bonus. If you surrender the policy on 16th year you will lose the ‘life long insurance coverage’.

Shall i get money after my premium paying term

You will get Maturity Benefit after the premium paying term. Maturity amount includes Sum Assured + Bonus + Final Additional Bonus. Life long cover continues even after premium paying term.

here the maturity date mentioned is 2072, but paying term is 12 years. So, when i will get the benefits or final settlement. Insurer is healthy.

Jeevan Anand plan 149

Age

40 Yrs

Policy Benefits

₹ 1,00,000

Premium Paying Term

12 Yrs

Policy Term

60 Yrs

Commencement Date

05/01/2012

Date of Maturity

05/01/2072

In Jeevan Anand Plan, Maturity amount which includes Sum Assured, Accrued bonus and final additional bonus(if any) shall be available after premium paying term. Life long coverage continues till 100 years of age. That is the reason why maturity is given as 2072.

Hi Mr Anish LJ I have a doubt can I surrender after maturity premium paying term . if 5 lakh is my Sum assured amount normally am getting arount 690000 that’s nice the rest amount till 100 age ..can I surrender for this coverage and what is amount am getting for this surrender. pl reply

Dear Firoz,

You can surrender the insurance coverage available after the maturity in Jeevan Anand plan. Please refer to this chart.

Hello Anishji

Good Afternoon

Surrender Value chart of jeevan Anand Which you have attached is not opening

You can email me on mrchavan706@gmail.com

Mayur Chavan Mumbai

you can download it from here.

thank you

regards

thank you .

Hello – I have Jeevan Anand 149 Policy. There is an endorsement that states “Double Accident benefit and extended disability benefit under this policy is restricted to Rs. NIL only. What does this mean?

Double accident benefit and extended permanent disability is available as an inbuilt benefit under this plan and shall be available during the term of the plan and also till age up to 70 years. Maximum DAB & EPDB cover will be Rs. 5 lakhs. So no such endorsement is possible in this plan. Please clarify with your nearest LIC branch office.

i could have worded incorrectly. It is not an endorsement. Those words that i had mentioned was stamped and the word “NIL” has been hand-written. This is my SECOND jeevan anand policy. The branch office said that for Jeevan Anand the maximum DAB is 5 lakhs only. But that is not mentioned in the schedule…i mean there is no statement mentioning like irrespective of the number of Jeevan Anand Policies taken, the max DAB is 5 lakhs. Any thoughts here?

Yes, what you said is right. Maximum DAB allowed under Jeevan Anand policy is 5 Lakh and if you have already covered that 5 lakh in your first policy itself, then no DAB shall be available in your second policy. That is the reason why DAB is given as NIL in your second policy.

But, no where in the schedule i see a statement like “irrespective of the number of Jeevan Anand Policies taken, the max DAB is 5 lakhs”. Is this been mentioned somewhere, that i am overlooking?

I asked the agent for 50Lakhs sum assured policy. He gave it to me in 26 differnet policies with different paying terms for each. He also told that I don’t have to pay any premiums after 17 years even though the payment terms in all but one policy is more than that. I don’t understand why that was done so. Any advice?

I think the agent has given a series of policies maturing every year from the 17 th year. There are some advantages as well as disadvantages while splitting policies in this manner. One advantage is that as each policy mature every year it will work as a pension plan and there will not be any tax burden on the pension received in this manner as the maturity amount of the policy is tax exempted under section 10(10D). On the other hand if you take a regular pension plan, the pension received will be taxable and will be added to your income. You may loose higher Sum Assured rebate if each of the policies are splitted into small policies. You will have to pay premium for entire period but the agent may be presuming that the premium can be paid from the maturity amount paid every year.

Agent should have communicated clearly about the implications of giving multiple policies.

Age

27 Yrs

Policy Benefits

₹ 5,00,000

Premium Paying Term

16 Yrs

Policy Term

73 Yrs

Commencement Date

03/03/2011

Date of Maturity

03/03/2084

Sir, Please tell me, when i will get the maturity money?

Maturity Benefit of the policy will be available on 2027 (After the premium paying term)

Age

29 Yrs

Policy Benefits

₹ 2,00,000

Premium Paying Term

21 Yrs

Policy Term

71 Yrs

Commencement Date

28/10/2013

Date of Maturity

28/10/2084

Sir, Please tell me, when i will get the maturity money and how much?

Maturity amount shall be available on completion of 21 Years (on 2034). Please use this calculator to get the expected maturity amount.

Dear sir, what is the procedure for availing accident benefits under this plan in case of hospitalization ?

Accident coverage available under the plan is for accidental death and permanent disability (which is irreversible) only. No hospitalisation benefit shall be available under accident benefit.

is it possible to change the premium paying term and what is the process?.

You can change the term subject to certain conditions. You can reduce the term of the policy but cannot increase it. As all policies do not allow term change please give the plan details for further information.

Want to buy 5 years policy.Age is 46.Please give me best policies.

Best Regards

Rajesh

LIC do not have any 5 Year policy.

mail me lic have 5 years policy (abhijitmitra111@gmail.com)

The only plan with the 5-year term is Jeevan Nidhi (Single premium)plan from LIC of India.

I am paying a yearly premium of 49,872 and the number of terms is 21 and Sum Assured is 10,00,000. Using the premium calculator, the maturity benefit showed a value of 21,29,000 (SA 10,00,000 Bonus 1029000 & FAB 1,00,000).

So does this mean I will be receiving an amount of 21,29,000 after completion of the 21 terms with additional life long coverage of 10,00,000?

Exactly. This is the indicative maturity amount as per the current bonus rates and you will have a life long coverage of 10 lakh.

Dear Sir, I hope you are doing well. I would like to have a clarification in my policy. Kindly find the below details of my policy and let me know, when i will get the maturity money and how much amount will i get ? What other benifits will i get. Thanks

Age – 31

Sum Assured – 1000000

Premium Paying Term – 11 Years

Policy Term – 69 Years

Date of Maturity – 07/07/2081

Instalment Premium – 54304 (Per Year – 108608)

Premium Mode – Half-Yearly (January & July)

Commencement Date – 07/07/2012

Date of Last Payment – 07/01/2023

The maturity date of your policy is 07/07/2023 and you will get 10 lakh + accrued bonus at that time. Please use calculator provided to get indicative amount.

what amount is recoverable after premium payment term in jeevan anand plan -149?

whether the amount recoverable is maturity amount or less?

and when this amount could be recovered?

After premium payment term, Jeevan Anand matures and Sum Assured + bonus + final addition bonus shall become payable. Life long coverage equal to Sum Assured shall be available there after.

Hello Sir, Thank for the clear information about the maturity and still my confusion remain about the final settlement, try to get the information form many of LIC officers and they have no clear information.

As you clearly illustrate that Return amount from LIC will be 36,35,000 /-, please clarify that physically i will get 36.35 Lack or 25.35 Lack only. because 10 Lack is belongs to life time insurance coverage of 10 lack, if i wish to cancel that coverage, should i eligible to get the 36.35 Lack ?

Regards,

SANDESH

Referring to above my question, i have been informed from agent that i shall get almost 50 lacks during my maturity period ( My policy is 20 Lacks for 16 year, as per your calculation ill eligible to get around 34.5 lack+ 20 lack life time coverage.

This is the calculation based on current bonus rates. Maturity benefit includes 20 lakh sum assured + Accrued bonus + FAB ( approx 34.5 lakh) and life long coverage of 20 lakh. So total benefit is likely to the tune of 54.5 lakhs.

Hi, I have a Jeevan Anand(Plan-149) of sum assured 3 lakhs which will mature in 2034. Expected amount I will get on maturity? as well what does it means as a life coverage, I mean post maturity I believe I won’t get any more amount in future? or is it post maturity only death benefit will be there which will be same as sum assured and which will be given to my nominee.

Dear Sourav,

Please use the calculator provided in the post to get the indicative maturity amount.

At the time of maturity you shall receive Sum Assured + Bonus + Final Additional Bonus as a one time payment. Life long coverage means your nominee is entitled to receive on more sum assured as death benefit even after maturity. Only death benefit is payable after maturity.

Thanks a lot. Its clear to me and the calculator is helpful too. Is there any such plans available in todays date. Also could you please suggest any good policy for children of age 9 years?

Thank you for nice words of appreciation… A similar New Jeevan Anand plan (Plan 815) is available for sale from LIC of India. Read all you need to know about New jeevan Anand Plan 815 from this link. Please read the article New Jeevan Anand – a critical review also for more information.

Please check Jeevan Tarun and Childeren Money back for your child.

Hi Mr.Anish, My LIC plan 149; maturity amount 1200000Rs; term 21 years; 5 years completed as of now. Its showing 297000 as vested bonus. I have below questions:-

1. Vested bonus + sum assured only we get after maturity or some other bonus?

2. After maturity policy will cover life time right? – Means for normal death sum assured will pay again??

3. What will be minimum and maximum possible amount at my plan maturity for 12lakh sum assured policy?

Hi Suresh,

1. You will receive the SA + Bouns + FAB fully at the time of maturity only.

2. Sum Assured is paid at the time of death even after maturity.

3. In Jeevan Anand (Plan 149), the maturity amount is the sum total of Sum Assured + Accrued Bonus + Final additional Bonus(if any). Use the calculator provided to get the indicative maturity amount. You can see from the calculator that the bonus amount as per current rates is 1234800 for 12 lakh sum Assured and the final additional bonus amount is 120000. So the indicative maturity amount is Rs. 25,54,800

Hi Mr.Anish, My LIC plan 149; maturity amount 1200000Rs; term 21 years;

In case i want surrender the policy; how much i can get back?

Note: I have paid premium for 5 years – 3lakh so far.

Get the surrender value quotation from your nearest LIC branch office. Surrendering a policy in between is not a good decision as you loose your valuable insurance coverage taken at the rate provided at a lower age. Further, You will not receive the accrued bonus in full also. My recommendation is not to surrender a policy without sufficient reasons to justify it.

Gd morning sir.

I have jivan anand 149 plan of 10 lacs from jun 2011 and i paid premium around 3.20 lac and now i want to surrender this policy. Approx how much surrender value i will get and someone told me that accumulated bonus not given during surrender time.

Hi Ganga Ram,

You are right. The accumulated bonus is payable to you only at the time of maturity. If you Surrender your policy in between you will receive only a percentage of the accrued surrender value. And the percentage is called surrender value factor which generally varies between 30 to 100 % depending on the period elapsed. You can get a detailed surrender value quotation from your nearest LIC branch office.

Hi Anish,

My self Yogesh , I have Jeevan Anand 149. plan for 16 years & yearly payments is 70327 & last payment is till july-2025.

total i will pay 1125232/- Rs. till July -2025

Please tel me below quaiers

1) After paid this how much i will get ?

2) When i will get this ?

3) How can i get .. ?

4) Any other benift ?

Please clear us

yogesh

Hi Yogesh,

I assume that the sum assured of your plan is Rs. 10,00,000 based on the premium mentioned by you. So The maturity returns on the 16 th year will include Sum Assured of 10 Lakh and the bonus for 16 years and Final addition bonus. You can use the calculator provided to get the indicative figures. As per the calculator the indicative return is Rs.17,45,000 based on current bonus rates. You will be eligible for a life long insurance coverage equal to sum assured (10,00,000) So the total amount payable from LIC shall be to the tune of 27,45,000 as per current bonus rates.

The maturity benefit shall be paid to your account on the maturity date.

thank you very much

HI sir,

I have taken 15 policies of Jeeven Anand plan149 on 28/10/2012.

Each one sum assured of 1,00,000/-Per policy.

Policy Term : 21 years,

Premium mode of payment : half Yearly 28,089.00/

Till now i have paid nearly 5.5 years. approx (3,08,7900)/-.

Upto my knowledge i gave to pay total of (11,79,738.00) / 21 years for all 15 policies.

Im not yet all clear about this plan. can u help whar are the benfits and plus points to me.

I dont know anything about ” In force ” after Maturity period**

Hi,

I don’t understand why you took 15 one lakh policies and all of them with a 21-year term. Please check the term of your policies once again and let me know…

HI, Anish ji,

Dear Sir, I hope you are doing well. I would like to have a clarification in my policy. Kindly find the below details of my policy and let me know, when i will get the maturity money and how much amount will i get ? What other benifits will i get. Thanks

Policy Name : Jeevan Anand

Installment Premium (Rs.)/Premiume Amount : 12713

Date of Commencement : 28/2/2012

Mode of Payment : HLY

Plan & terms : 149/76/21

Sum Assured Rs. : 5,00,000

The maturity amount shall be received on 21 st year. (on 28/1/2033). ’76’ shown in plan and term indicates that insurance coverage is available till 100 years of age.

I will get 10 lac as maturity amount on 2033 without any issue right? And life cover and accident cover still be there right?

Yes, that is right as per the details you supplied…

Hi Sir Good day I am working IT Professional I have Planned to Buy LIC Pension Policy. LIC Agent told me that there is one best policy for IT professional where I need to pay the premium till 15 years after which I will get the amount as pension i,e either monthly,quaterly, half year, yearly basis. My age is 30 years he told not an issue for that. is there any such kind of LIC policy? if there can you name it

Jeevan Nidhi is a pension plan available from LIC. Read complete details of LIC’ Jeevan Nidhi here.

Age

27 Yrs

Policy Benefits

₹ 6,00,000

Premium Paying Term

20 Yrs

Policy Term

73 Yrs

Commencement Date

28/10/2012

Date of Maturity

28/10/2085

Please let me know the below information:

1. When i will get the maturity money?

2. Why the Maturity Date shows as 28/10/2085?

3. How much will be the Maturity amount?

4. Till which i should be paying the premium?

Hi Neha,

1) You will get the maturity amount after 20 Years. ie on 28/10/2032.

2) The date shows as 28/10/2085 because the plan provide free insurance coverage up to age 100

3) Use this calculator to get the expected maturity value

4) You need to pay premium only up to 20 years.

Thank you very much Anish.

I have one more question please:

What is policy term and why it is 73 yrs?

Is this a good policy to invest?

Thanks,

Neha

Hi Neha, I think that’s 100-27(your age) which is 73 yrs..as Anish said you have insurance coverage up to 100 yrs.

Hope this helps.

Exactly.

Hi Anish if anyone not required life cover after premium paying term then what will be the benefit atatimeat of maturity.

You can surrender the life long coverage after maturity and get a reduced amount for that.. Check this chart to get an idea of the amount available on surrender of life cover.

Just to update my LIC policy is Jeevan Anand 149

Hi Anish,

Myself Anil. i have Jeevan Anand 149/75 plan for 21 years with sum assured amount is 500000/- and i have pay halfyear 12787. DOP 26/11/2013. please tell me about this-

1. After paid this how much i will get?

2. When i will get this?

3. Any other benifit?

4. How much amount at maturity time?

Hi Anil,

Please use this calculator to get expected maturity value. Amount received on completion of 21 years from date of commencement. Life long insurance coverage equal to 5 lakh available even after maturity.

Hi.

I have taken a LIC Jeevan anand policy (149 78 05) in 2011.

Age

22 Yrs

Monthly premiem:

5096

sum assured

₹ 250000

Premium Paying Term

5 Yrs

Policy Term

73 Yrs

Commencement Date

27/05/2011

Date of Maturity

04/2016

I have recieved 2.96 Lakhs on maturity. But I have got a notice from income tax saying I have to pay 88thousand income tax for this. Can you please explain me should I pay tax for this, if so should I pay 30 % tax for the whole amout or just for my profit? In this case I have more than 3Lakhs and got an amout less than that only. On this why should i pay 30% tax. This is worrying me. Can you please help me out with this.

Hi Aravindh,

Section 10(10D) benefit (Exemption of maturity benefit of Insurance policies from income tax) will not be applicable for the 5-year term, as the premium paid per year will be higher than 20% of Sum Assured in this case. But you will have to pay tax only on the appreciation. ie (Maturity – total Premium) If you are already in the 30% slab you will have to pay 30% of appreciation. If not, you will have to pay tax depending on your tax slab. any more clarifications? You can get more information on tax rules applicable to insurance policies from this article.

Sir,

Please clarify the following points

LiC Jeevan anand plan 149 sum assured amount 100000 ,Yearly premium paid Rs7314 from 2004 on words, Maturity year 2020.

After maturity how much total amount will get

and also what is another benefits.

Please kindly clarify

Please use the calculator for maturity value.. give the term as 16 years and Sum Assured as 100000. Life long coverage of 100000 also shall be available.

Hie Sir,

I have taken Jeevan Anand Plan -149

Age

49 Yrs

Policy Benefits

₹ 1,00,000

Premium Paying Term

14 Yrs

Policy Term

51 Yrs

Commencement Date

28/09/2005

Date of Maturity

28/09/2056

Sir in the premium bond the last payment date is mentioned as 28/09/2018 but according to premium paying term the date would come to 28/09/2019.. Sir please help me out

You will have to pay 14 premiums only. so the last premium to be paid is 28/09/2018.

HI I am holding Jeevan Anand (Plan-149) policy. But i am not very clear about the returns / benefits of it.

i am paying 5163/- per quarter. which started 12/06/2010.

i have to pay for total 25 yrs. so what is the benefits i am going to get.

can you please ans me in detail…

Please click on the calculator link to open the Jeevan Anand calculator to calculate maturity returns.

Now when I look back, I guess taking Jeevan Anand 149 policy would have been better, my agent sold me Endowment Assurance policy plan 14 policy in April 2003, sum assured 220000 for 18 years. I see that Jeevan anand would have been good. Not sure, did he sold me right policy or fooled me. Thanks MOHAN

Jeevan Anand is a good policy. It provides lifelong coverage. The endowment policy is (Jeevan Anand – Lifelong coverage).

Commencment date : 26/12/2005

Premium Paying Term : 25 Yrs

Policy Term : 74 Yrs

Age at the time of commencement : 26 Yrs

Date of Maturity : 26/12/2079

When will I get the Maturity amount ?

Do I have to wait till 26/12/2079?

Please reply…

The maturity shall be available on completion of 25 Years ie 2030.

Hello Anish Je…….

Heartening to see this good work. Thank you so much. The benefits calculator for 149 is so helpful. It really made my day.

I took this policy in 2009 when I was 44 plus at SA of 25 L. My paying term of 12 years will probably end in 2020 and the policy will mature in 2021. My age then will be 56. Except a few delayed premiums and unfortunately taking a loan against this , the rest all went well. For some financial reasons I would like to surrender the policy at maturity in the hope of commuting the SA otherwise available until 100 / death whichever is earlier. From a chart in the comments above I presume that I will get only about 30% of the SA as SV at 56 which seems quite a small amount. I have two issues :-

1. Is commutation easily available at maturity,

2. Is it advisable from the cover perspective to surrender and use the money while still alive. I asked a friend he advised not to surrender. But my understanding is that one can reinvest this judiciously along-with the policy benefits and leave some assets for the nominee which together can prove a good investment with some annual returns. For example an apartment , a shop etc. Yes , it may depend on personal goals and tastes and preferences, but what is preferable from the insurance point of view.

Thank you sir and wishing you all the best

Kindest regards,

Mohammed

Dear Mohammed, All the options are open.. Think well and take a decision. Happy to understand that the calculator was useful to you.

Anish

Hello Sir,

I have taken JEEVAN ANAND POLICY 149

Date of commencment of Policy:28.08.2005

Paying Term : 23

Premium Amount per year : 49085/-

Date of last payment :28/02/2028

When will I get the maturity amount & how much ?

The maturity of the plan is after the premium paying term and it will be after the completion of 23 years. Please use this calculator to get likely maturity amount.

Dear Anish,

I have a Jeevan Anand Plan 149 for SA 3,00,000.00 . I have been paying the Premium from 2010 for Rs. 15,341.00. I have paid 9 years. If I surrender the policy now, How much I will get ?

Please contact the nearest branch office to get surrender value. Please read the article and get a clear idea of the plan and then decide on surrendering.

Hi Anish,

I have purchased LIC Jeevan Anand 149 in 2010 when I was 27 year old.I have 21 policies each with SA 1 lakh and premium payment term varying from 23 years to 43 years for 1st to 21st policy.So premium pay amount for all policies vary accordingly. Year of maturity for all is 2083.I pay for all policies combined on a quarterly basis.My Query is, is it possible to surrender all 21 policies by 2033 when 1st policy premium term is over and still get the benefits of Accrued Bonus + FAB + SA together . Also what will happen to life cover in that case?

Surrendering all your policies will bring in huge loss to you. Further, you will not get the ‘LIfelong coverage’ which is the highlight of this plan.

I think Agent’s intention was to provide you a type pension from 23 rd year to 43 rd year. Purchasing policies in this manner have certain advantages as well as disadvantages. The advantage is that you will get a tax free annuity and disadvantage is that you will lose Sum Assured rebate provided for higher sum assured when taken as a single policy.

Thank You for your reply.

Dear sir,

does this plan149 cover a natural or heart attack death even at the age of 80 or so?

Dear Sir,

Jeevan Anand plan covers all types of deaths including natural and accident. So deaths due to diseases also are covered.

Dear Sir, I hold Jeevan Anand (Plan 149) commenced from 15-03-2007 with an yearly premium of INR 39,935 and sum assured is INR 8,00,000. I had paid yearly premium promptly till 2015 after which my business went through a dip and i am yet to recover. Already 3 years gone by and I am yet to recover from it. I am thinking of closing this policy so that I get some thing which helps me. Just wanted to know how dies it work and how much would I get back? Please let me know

Please contact nearest branch office to get the surrender value.

Please contact the nearest branch office to get the surrender value.

Hello sir,

I took jeevan anand 149 policy in 2013, I was 27 years old then.

Paying term is 20 years

Policy term is 73 years.

Total 3 lakhs of policy.

Paying around 16k every year.

So when will I get the maturity amount?

What this policy term mean?

Does it mean I will get maturity amount after 73 years?

Please help me out.

Thanks in advance.

Dear Aswini,

Jeevan Anand is a plan having lifelong insurance coverage, which is arbitrarily considered as ‘up to 100 years’ of age. You took the policy when you were 27 and 100-27 gives 73 years. The maturity of the policy is after the premium paying term and in your case, it is after 20 Years. You will be getting a Sum Assured + Bonus + FAB at the time of maturity. Use this calculator to get maturity benefits.

Thank you.

Hi took jeevan Anand when I was 25yrs old in 2012.. sum insured 4,00,000 premium paid is 21500 yearly.. for 20yrs …. policy maturity is 2087

kindly let me know how much I might get after 20yrs ..

Please use this calculator to get expected maturity returns.

Hi Anish

My term says 78 and the calculator is not allowing to put more than 30 yes..my understanding was it’s 39yrs,half yearly I pay premium of 5794,sum assured-5L and doc- Mar/2013. Could you please help me understand the terms, till when I should be paying premiums and when can I get the LIC amount when all the bonus?

You are eligible for an insurance coverage up to age 100. Actual term of the policy is your premium paying term. Maturity shall be available at the end of the premium paying term.

Can I find my premium payment period anywhere on the LIC receipt and as you said 22yrs,so I should be paying the premiums until 2035?

There is an error in my reply. I have edited my reply please check it. I presume that you have taken the policy at the age of 22. The term of the policy is available in the policy bond itself.

Sorry for multiple questions but I feel it’s only you who can help me here to understand and thanks for your quick responses.Yes,when the LIC commenced I was 22yrs old and just one clarification what I want is, till when I should be paying my premiums?bcoz as per my dad I should be paying it untul I am 60, that’s very long period (39yrs).

Dear Sir, I was enrolled in Plan 149 with the commencement date October,2013 with yearly premium for sum assured 5 lack.

Premium was discontinued from 2017 on wards ( last paid in October 2016). I am not interested to continue with the policy. My I know whether I may refund any part of the payment maid so far?

Looking for your reply.

Hi Gireesh,

Jeevan Anand is a good policy and I don’t find any reason to discontinue it. You are getting lifelong insurance coverage in this scheme. Surrendering a policy can bring in a big loss. If you want to know the surrender value please contact the nearest branch office. As the policy is now in paid-up status you can get the paid-up value + accrued bonus at the time of maturity.

Hi Anish,

I have a Jeevan Anand – 149 policy. Bought in 2013 Jan. I have paid premium for 6 yrs totally. I want to surrender this policy now as i do not wish to continue with it. What will be the returns i will get on surrendering it. SA is 700000 & yearly premium is 35895. Table & Prem paying term as mentioned on policy is 149 / 71 / 21. I’m unable to get clarity from the agent who sold me this policy. Please advise.

Please contact the nearest LIC branch office to get the surrender value amount. By the way, Jeevan Anand is a good policy and I don’t find any reason to surrender it. Do you have a better insurance-investment option? You will lose valuable insurance coverage at the premium rate as per your age 7 years back. Think well before deciding.

Sir I joined jivan Anand 149 plan

5year paying term

If I want amount after Finishing of paying term so how much I will get.

You will be receiving Sum Assured + Bonus after the premium paying term. Please refer to the chart given below for the surrender value of lifelong coverage.

hi sir,I have a Jeevan Anand 149 policy bought in sep 2013,,paid premium for 2 years after that due to some reasons didn’t paid premium till now……today I went lic branch office.there I got an information I.e.,total amount of premium 85912,late fee :17333,GST:3119,total revival amount payable:106365…..they said I won’t get even a paisa if I surrender my policy…need ur valuable suggestion …thankyou

You cannot surrender any life insurance policy if it has not acquired paid up value. The minimum period required to acquire paid-up value is 3 years. As you have not paid the premium for three years you cannot surrender the policy. Further, if you don’t revive the policy, you will lose the premium paid.

So the only option available for you is to revive the policy and make it paid for more than three years.Once revived you can either continue the policy or keep it as paid up till maturity and receive proportional maturity benefit.Dear sir

I have taken the policy of LIC149 1st Jan2013 and it’s continue what will be my maturity.my primium 9069/- quarterly. And sum insured 500000/-, policy term is 16year

Use this calculator to get likely maturity amount.

Hello Sir,

I took jeevan anand 149 policy in 2009, I was 18 years.

Paying term is 16 years

Policy term is 82 years.

Total 3 lakhs of policy.

Paying around 20k every year.

So i want to surrender the policy and invest the amount in mutual funds (due to personal commitments).

Can i surrender now? if yes how much loss will i incur? i read 30% loss from total premiums paid till now, i need some valuable information from you.

Thanks in advance.

You can get the surrender value of your policy from the nearest branch office. But I would suggest you to continue the plan and invest some other money in the mutual fund. If you cannot set aside any more money, then keep this policy as paid up and receive the maturity amount after the completion of the term.

Dear sir,

Commencement date : 28/10/2013

Premium Paying Term : 21 Yrs

Policy Term : 75 Yrs

Age at the time of commencement : 25 Yrs

Date of Maturity : 28/10/2088

When will I get the Maturity amount ?

Do I have to wait till 28/10/2088?

I have answered this question several times in the comment section. Maturity is available after premium paying term which is 21 years. Insurance coverage shall be available up to 100 years of age or 28/10/2088.

Hi Anish,

I hold policy jevan anand (149).

age at entry : 27

premium paying term : 10 years

sum assured : 1000000

By using the calculator, i get FAB value as 0. what is the criteria to be eligible for FAB ?

As of now, policies with term higher than or equal to 15 years are eligible for Final Addition Bonus. So a 10-year policy is not eligible for FAB.

Hi, Mr. Anish,

Im having Jeevan Anand 149 policy.

Commencement date :10/08/2013

Age at entry : 27

Sum assured:2,50,000

Policy Term :73

Premium Term:35

Premium : 1809 (Quarterly).

1. I couldn’t able to enter premium term more than 30 year (as my premium term 35 yr) for calculate my expected maturity amount by using your online calulcator. Please solve or do let me know how much will get after my maturity.

2.Can i reduce / change my premium term year? if so what i need to do.

3.Can i change my nominee, if so what is the procedure.

4.income tax applicable for the maturity benfit amount?

Hi Vinu,

Thank you for notifying me the error. I have updated the program so that you can enter term up to 35 years. I will be updating it for the term beyond that soon. Please use this calculator.

2. You can reduce the term of the plan if you need. You can approach your branch office to reduce the term. Reduction in term is possible but increase in term is not allowed.

3. You can change the nominee of your policy any time. Approach your branch office. Read more here.

4. The maturity amount is completely exempted from income tax as per section 10 (10D). Read more on income tax rules applicable for LIC policies here.

Thanks for your prompt response and updating online calculator.

Dear Mr. Anish,

I’m holding two policies with same date and features (Details as mentioned above) but agent are different. While calculating total premium need to be paid with the help of your online calculator, realize that I need to paid total premium of Rs.26215/- surplus than a single policy.

Can I merge these two policies with a single one? If so please guide me..

Thanks in advance

You cannot merge two policies after purchase. You will have to continue the plan as such. The difference in premium is due to the loss of high Sum Assured rebate which may not be available while splitting the policies.

Dear Anish,

I am Srinivas, i am paying yearly amount 42334/- for jeevan anand 149 policy. I need to pay 16years and started in 2008 till now i paid 11 premiums and i need to pay 5 more premiums. The sum assured is 6,00,000/-. Kindly provide me the full details after completion of my premiums like how much and when i will get the full amount. Your inputs are very great to me.

Thanks in advance and your supprt.

Best Regards

Srinivas.

Hi Srinivas,

You can use this calculator to get the expected maturity amount of Jeevan Anand Plan. Please supply the details of your policy such as Sum Assured, Term and Age at the time of taking the policy on the calculator. If you still have any doubts, please ask.

Hi Anish,

Thank you for the resourceful website. I am very impressed by you taking the time to respond to individual comments here.

I hope you can help with my query too. I have 5 Jeevan Anand (149) policies with premium terms maturing one after the other (i.e.,16-20 years). I took these policies in 2013 when I was studying/working abroad temporarily (i.e., an Indian citizen, temporarily working abroad; NRI). Since then, I became a permanent resident in the foreign country and will soon be becoming a citizen of that country (i.e., will be losing my Indian citizenship).

Once I lose my Indian citizenship:

1. Will I still be able to collect the benefits (SA+Bonus+FAB) after Maturity period, even if I am not an Indian citizen?

2. Will my nominees in India still be able to get the death benefits, if I pass away in the foreign country?

3. Can I still continue to pay my policy premiums even if I am not an Indian citizen?

4. If I won’t get the benefits of this policy because I Iost my citizenship status before policy maturity, can I cancel the policy on these grounds?

5. If I cancel the policy, how much of my premiums will I get back (premiums have been paid up-to-date so far).

I appreciate your valuable input on these questions and thank you again for maintaining such an excellent resource for the less informed people like me.

Thank you for your nice words of appreciation.

(1) You can collect the maturity benefit of your policies without any problem (even if you are not an Indian citizen) as long as you maintain a savings bank account in India.

(2) Nominees are eligible for death benefits even if the death occurs in a foreign country.

(3) You can continue your policy from your NRI(E), NRI(O) or SB account in India even if you are not an Indian Citizen.

(4) NA

(5) No need to cancel the policy in these grounds.

Further to add, foreign Nationals of Indian origin (FNOIs) can take an Insurance policy from India any time.

Thank you very much for the clear and timely answers, Anish! A few follow-up questions.

1. I beleive NRIs cannot hold a regular SB account in India but only NRE and NRO accounts. If i do not have any of these accounts, are there any restrictions on opening an NRE/NRO account to get the LIC benefit, after renouncing indian citizenship?

2. Assuming I survive the maturity period, can i request LIC to deposit the maturity amount to my nominee (who is Indian citizen with regular SB account) at that time, instead of opening a new NRE/NRO account myself?

Just a suggestion: Would you be kind enough to create a separate blog post on this topic – LIC policies after renouncing Indian Citizenship? I believe many people who have immigrated to other countries will benefit from your expertise from such a post and become aware of any specific regulations they need to comply with.

Hi pkay,

NRI’s and Foreign Nationals of Indian Origine can open following types of accounts in India.

a) Non-Resident (External) Rupee Account Scheme (NRE Account);

b) Foreign Currency (Non-resident) Account (Banks) Scheme (FCNR(B) Account);

c) Non-Resident Ordinary Rupee Account Scheme (NRO Account); and

d) Special Non-resident Rupee Account (SNRR Account).

As per FEMA regulation, an NRI should convert his savings account to NRO or NRE account immediately on his status change to NRI.

If he has not opened an account in India before renouncing Indian Citizenship, he can very well open an NRO account for carrying out bona fide rupee transactions.

Foreign nationals coming to India for employment or as a tourist may open an NRO Account. The account may be opened with funds remitted from outside India or by the sale of foreign exchange brought into India.

It may be a savings, current, fixed or recurring deposit account.

The permitted credits into NRO Account include:

• Inward remittances from outside India;

• Legitimate dues in India

(2) No Insurance company can pay the maturity amount to the nominee. A nominee can receive only death claim proceedings. Read more here.

I shall write an article on this subject as you have suggested. Thank you.

Hi Anish,

Thank you for writing this down so clearly. I was finally able to understand how this policy works.

Here is my question:

I have 25 149 policies each maturing a year after I turn 50 with SA ranging from 1,00,000 to 2,00,000. Can the death benefits availed for each policy? To clarify – if I pass away after 70, will LIC give 25L (assuming 1L SA per policy) or just 1L?

Happy to know that the article has helped you. I assume that your policy was completed as multiple proposals to create a pension plan where each policy get matured every year. While completing such policies a multiple proposal addendum has to be attached to the proposal where details of all the policies taken together have to be mentioned. So your insurance coverage for each proposal will get added up to give you a single coverage. If it has been done like this while completing the policy you will get 25 lakhs + accrued bonus in all the policies as insurance cover. You can check the EDMS image of the proposal submitted at the time of taking the policy at your branch office to confirm this.

If you find that it is not in order, Submit an application mentioning the details to the branch manager to regularise the coverage immediately. In 99% of cases, it would have done properly.

Hi ,

I have a lic jeevan anand 149

Commencement date 22/7/2011

Premium paying term- 25 yrs

Policy term _ 76 yrs

Date of maturity- 22/7/2087

I just wanted to know will I get any money after paying term 25 yrs or I will only get the money after policy term maturity date. Please reply

You will get maturity amount after premium paying term and only life-long coverage continues after that.

Sir I have a LiC jeevan anand 149 commencement date 28-10-2008 , premium paying term 43 yrs Policy benefit 300000. Policy term 74 yrs and date of maturity is 28-10-2082. Premium paying 6204/- per year Sir my question is want to reduce my premium paying term to 43 years to 20 yrs ..is it possible to do so and how much difference amount I need to pay and via which methodology can I pay balance amount online as well.

Regards

Abhishek Jain

You can reduce the premium paying term and for that, you will have to visit the branch office. They will guide you in this regard.

Hi,

My yearly premium is 10437. Tearm 11 years.comencement date 2.2.12

Sum insured 100000

Bonus shown in your calculator 45100

But FAB shown 0.

LA not shown.

My question is is there in FAB or LA added after term.

Can i change nominee as when i start i was unmarried .

Hi Subhasish,

FAB is not available for policies having term less than 15 years and your policy will not be eligible for FAB as on date. LA is not available for Jeevan Anand plan. Read an article about the latest declared bonus rates here.

You can change the nominee of your plan any time. Read more here.

Hello Anishji,

I have query regarireg Jeevan Anand Plan 149

Age at entry – 53 years

Premium Paying Term – 12 years

Sum Assured – 1 lakh

What is the maturity value of this plan after premium Paying Term is over & what do you mean by life long cover?

As far as I know bond is to be submitted at the time of maturity benefit then how can LIC say that it will give you life long cover after that?. Plz help

Hi Ankith,

On maturity you will be getting the sum assured of 5 lakh and accrued bonus after the premium paying term is over. Please use the calculator given in the post for approximate value.

After the maturity amount is received, you will have an insurance coverage equal to 1 lakh throughout your life. This is the life long cover.

After receiving the maturity amount, LIC will return the policy document to you and there for you will not have any problem in receiving the life long cover later.

HELLO SIR , I started paying for jeevan anand 149 when i was 18 . now i am 32.

i was told by the broker that it is a 15 year term but he cunningly made the term 21 years.

my question is how much would by final rate of return be at the completion of 21 years.

premium amount 120823/- every year.

can i cut short the premium paying term to 15 years?

also can i change my agent , as he no longer provides any service.

Hi Mukesh,

What I have to tell you is that you are not a loser by keeping the term to 21 Years. Please check this article to know more. I think this article will clear most of your queries. After reading this article if you have any more doubts, please let me know. You can reduce the term of the plan but that is not a good decision.

Changing an agent is possible if your policy is remaining in lapsed position for some time and a new agent is helping to revive it. In all other conditions, it is not possible.

Hi anish i have query regarding the FAB for Jeevan anand plan 149 ..whatvia tge actual FAB for policies more than 15 years saw a document which put it as 100 per 1000 sum assured is that correct

FAB rates changes depending on the Sum Assured and Term of the policy. Please refer to this post on the latest Bonus Rates.

Sir-I have LIC Jeevan Anand Plan 149 for SA of Rs2 lacs for 21 yrs. Starting from April 2004. As per the calculator, I can expect total maturity benefit of 415800 and lifelong cover (upto age 100) of Rs2lacs and additional accident coverage (upto age 70) of Rs4lacs. I want to stop paying future premiums. If I make the policy paid up, what would be my revised maturity benefit, lifelong cover and addtl. accident cover? Is there anything else I will lose? Will I benefit by completing the premium payment term or by making the policy paid up as I look to invest the saved premiums into MFs through SIPs. Kindly let me know.

Kapil

If you stop paying the premium after three years the policy will become paid up. Paid up value of the policy will be Sum Assured * Premium paid /total premium to be paid. So the paid-up value will be 200000*15/21=142000. Maturity benefit for this paid up value will be 1.42 lakh + (bonus for 1.42 lakh) = 1.46 lakh total 2.88 lakh. You will lose life long cover and additional accident cover. My opinion is to pay the remaining premium and avail life long coverage.

Hello,

I started my Jeevan Anand (Plan-149) in 2008 with annual premium of 59123 and sum insured for 10,00,000/- I have date of last payment as April, 2025 – and date of maturity 2085. Could you please help me with following queries

1. Why my premium is 59123 instead of 41,000 as per the details mentioned by you above. It is not matching – I am confused I am paying such large premium for same policy details you mentioned.

2. What is the amount I would be receiving by end of 2025 and also, is it tax free?

3. What does maturity date of 2085 means ?

Thank you for your help.

The premium of every policy changes based on (a)age at entry (b) term of the plan and (c) Sum Assured. Please give all these details and then only I can comment on the premium.

2. Maturity amount can be calculated using this calculator. The maturity amount is completely tax-free based on section 10(10d) of income tax act.

3. The maturity of 2085 means life long insurance coverage is available up to 100 years of your age.

Hi ,

I have a lic jeevan anand 149

Commencement date 28/06/2013

Premium paying term- 16 yrs

Policy term _ 74 yrs

Date of maturity- 28/06/2087

The amount I was paying is 34994 ( policy is for 5 lakhs)

When I calculated for 16 years it comes around 559904.

My queries are

1. Why am I paying more than 5 lakhs (559904)after end of 16 years

2. Do I get money after 16th year. If so how much ?

Basically when do I get money in return

3. What does policy term 74 years means

4. What does maturity date 28/06/2087 means?

Can you please reply to my queries. It will help me a lot in understanding the policy.

Thanks in advance

Hi Ravi,

1. Please note that a 5 lakh sum assured policy does not mean that you will have to pay a total premium of Rs.5,00,000. What it implies is that Insurance coverage of your policy is Rs. 5,00,000. The premium can be less than or more than 500000 based on the age of the person taking the policy and additional benefits provided in the policy. In Jeevan Anand policy Life long additional coverage equal to Sum assured is there. So for that, you are paying some additional premium also.

2. You can use this calculator to get the expected maturity returns available on the 16th year.

3 The policy term of 74 years means you will get additional life long insurance coverage up to this period(100 years of age).

4. The final maturity date of 2087 is the year when you will attain 100 years of age.

Hi

I have jeevan Anand for 300000. My policy commencement year is 22 years and premium paying term is 12 years. My maturity date is mentioned as 14/10/2091. When will I get the maturity amount? After 12 years or 2091?

If the term of your policy is 12 Years you will get the maturity amount after 12 Years. You will have insurance coverage equal to the sum assured till 2091 (100 Years of your age)

Plan Jeevan Anand Plan 149

Sum Assured 500000

Instalment premium 25319

So far Bonus Guaranteed adition 148500

Age at Commencement 26 yrs

Commencement date 15.07.2012

Policy term 74 yrs

Premium paying term 21 yrs

1.How much I can expect if I surrender this policy now? Already invested 177233 in 7 yrs.

2 What option do I have as I am convinced investing in this plan will not yield much and even paid up option will block my fund for another 14 years.

You can obtain the surrender value from the nearest branch office. Only option available to withdraw from the plan is by surrender or keeping it as paid-up.

Jeevan Anand 149

Age – 31

Sum Assured – 1000000

Premium Paying Term – 11 Years

Policy Term – 69 Years

Date of Maturity – 07/07/2081

Instalment Premium – 54304 (Per Year – 108608)

Premium Mode – Half-Yearly (January & July)

Commencement Date – 07/07/2012

Kindly advice that when i can get the maturity amount and how mach will i get.

I have paid all the premium for up to date.

You can receive the maturity amount after completion of 11 years from the date of commencement. Life long coverage continues even after that. You can use this Jeevan Anand calculator to get the approximate maturity amount.

my father had taken jeevan anand policy in 2011 of SA 300000 with term 18 years. now my father expired in 2018. company has paid only 408000 as death claim which SA + accumulated bonus. i want to know is the company has made right settlement. company did not pay FAB, why???

Hi Naveen,

Please check the final addition bonus rate chart. Final addition bonus rate is not available for periods below 15 years. So only Sum assured and accrued Bonus will become payable.

Dear Sir

I purchased lic 149 plan on 2013 September sum assured 10L , how paid up can I get now.

Thank you

Paid up value = 1000000*5/Term of the policy. I presume that you have paid 5 years premium.

So far this is the best explanation about Jeevan anand 149 policy.Thank you for your patience and time spent Mr.Anish.

Thank you for your inspiring words.

Hi

I have jeevan Anand 149 policy which was started at the 25 for 20 years with sum assured of 200000.

Please let me know what would be amount IAM going to at maturity.and when it is going to maturity.

The policy will mature after the completion of 20 years. Please use this calculator to get the maturity value and other details.

Hello Sir, I have taken Jeevan Anand 149 policy in the year April 2012. Paying an yearly premium of 55438. The sum assured is 1800000 and the premium paying term is 30 years (2041). Could you please let me know when I will get the maturity amount? Based on the maturity calculator link that you have provided, my maturity amount comes to approx 64 Lakhs. Will I be getting the entire amount in 2041 or will it be a partial amount? Also, in my policy the date of maturity is currently showing 2088 date. What is this date for? Will I not get anything till 2088? Please help me out with the above queries. Many thanks in advance!

The maturity amount of Jeevan Anand policy shall be available on completion of premium paying term which is 30 years here. You will get the entire maturity amount in 2041 itself and only the life long coverage will remain for the rest of the period (up to 100 years of age).

Your life long coverage is up to 100 years of age and that is why it is shown as 2088.

If death occurs before 2088 and after premium paying term one more sum assured is paid.

If you survive this period you will get one more Sum assured(Death not required in this case).

Hi Anish,

Thanks for providing such detailed information as we consumer never aware of this.

I need a favor from you regarding LIC plan ‘New Money Back Plan – 25 Years (Plan-821)’

I am planning to surrender this Policy in August 2019 , Can you please share that how much amount i will be getting after surrendering it ?

Following are the Policy Details –

Age when started – 27 years

Policy Commencement Date – 28 Aug 2014

Policy Benefits – 10,00,000

Premium Paying Term – 20 years

Policy Term – 25 years

Annual Premium – 57,734.00

Surrendering a policy will bring in loss and moreover valuable insurance coverage is also lost. The very purpose of taking a Jeevan Anand policy (life long coverage) is also defeated on surrendering it.

As surrendering is not advisable, I don’t want to share the values here. Please contact your nearest branch office for the surrender value.

Thanks for ur in depth analysis of jeevan anand 149,I too have one which commenced on 2011,16yrs term and 5.5lac sum assured…

Now due to personal reasons I wish to make it paid up..what’s the procedure to do it sir

Hi Ruben,

On making the policy paid up you will lose the life long coverage which is the highlight of the plan. So it is not recommended. Well, the plan is having automatic paid up facility and will be automatically converted to paid up if the premium is paid for at least 3 years.

I hv Jeevan Anand 149. It’s for 16 years. Sum assured is 500000. Maturity will happen when I will become 53 years. If after maturity I don’t want 500000 insurance benefit then how much I will get

Please refer to the chart given on the rate of the surrender value per one lakh sum assured, in this post itself. value for 53 years is 27440 per lakh Sum Assured. So the amount you will get is 5*27440=137200 at 53 age.

Sir,

I have purchased this jeevan anand policy 149

Commencement date: 24/01/2009

Premium paying term: 20 yrs

Premium amt : 2260(monthly)

Date of maturity: 24/01/2087

Sir I have paid premium till 24/01/2016

Now sir I want to ask should I revive this policy by paying premium due + late fees or should I wait for maturity and get reduced paid up amount?

Dear Madhur Ahuja,

Jeevan Anand is a specialized policy with life long coverage even after maturity. In order to get life long coverage, you should revive the policy. Otherwise, you will lose this unique facility. It is not recommended to keep a life insurance policy as paid other than in extreme situations.

Sir,

what is the procedure to get loan Jeevan anand policy and how much maximum possible to get presently?

Sum Assured (in Rs.) 300000

Policy Term (in years) 19 yr

Entry Age of Policyholder (last birthday) 26 yr (28/03/2013)

You can apply for a loan at your parent branch if more than three-year premium has been paid and at least three years are over from the date of commencement. You will have to submit your policy certificate and bank account details along with the necessary forms. Get the available loan amount from the branch office itself.

Hello sir

I started Jeevan Anand policy in Nov 2011 for 30 year premium term paid half-yearly for SA 10lacs at entry age of 28. I’ve paid 7.5 years premium. Now I don’t want to continue it and want to buy Term life insurance at an age of 35 now. So, I am thinking to either make it paid-up.

What’s your advice about discontinuing it and starting term life insurance of higher SA. It will save 9k per year extra premium money which I’ll invest in MF. I am already investing in MF

Kindly reply

Hi Deepak, buying more insurance in the form term assurance is a good decision and at the age of 35 it is the right time also.

But closing your Jeevan Anand plan for that is not advisable as you will not get life long coverage available with Jeevan Anand in the new term plan..

Think is it possible to continue the plan and buy term assurance at the same time..As you are already investing in mutual funds it will bring a balance in your portfolio.. a balance between high risk and low risk investments..

I have Jeevan Anand 149 policy. Sum assured is 3 Lakh . Commencement date is 28/12/2013 and premium paying term is 30 yrs. Half yearly premium is 6248. What is the maturity value for the policy ?

Hi Mukesh Soni,

You can calculate the expected maturity benefits at the current rates using the calculator in the post itself.

Well, the expected rate is as follows.

Sum assured- 3,00,000 Bonus 4,41,000 Final Additional bonus 3,30,000. So the total maturity benefit shall be 10,71,000

+ Life long coverage of 3,00,000.

Clear?

Sir please reply my question also as you have skipped my question

I think I have replied to your question. Please clarify what more information you need.

Sir

Ihave Jeevan Anand(with profits) ( Accident Benefit) under table149 taken on 15.09.2003 premium payment term 16, Sum assured Rs100000/= Premium Rs8352/= P.A.matured 0n 15.09.2019.Please advise the maturity amt on 15.09.2019.

Thanks & Regards

Vinod Kumar Doda

Hi Vinod Kumar,

As your policy is maturing this year, you can get the maturity amount statement from the branch office itself. Further, you need to submit the signed discharge voucher to get the maturity amount. The amount will be mentioned in the discharge voucher itself.

Sir you have not replied to my question posted on 13 June with my name Deepak. Kindly have a look on my question and please reply.

Hi Deepak,

This was the reply I gave for your question.

“buying more insurance in the form term assurance is a good decision and at the age of 35 it is the right time also.

But closing your Jeevan Anand plan for that is not advisable as you will not get life long coverage available with Jeevan Anand in the new term plan..

Think is it possible to continue the plan and buy term assurance at the same time..As you are already investing in mutual funds it will bring a balance in your portfolio.. a balance between high risk and low-risk investments..”

My advice was to retain Jeevan Anand for life long coverage. And try to get additional term insurance coverage also. The premium will be low now. The additional profit you may make by investing in a mutual fund after closing existing insurance is against the principle of insurance. This is my opinion. Do you need any more clarification

Thank you sir for the reply. Sir my current Jeevan Anand is for 10lac only and If I continue both as advised then my total annual premium for both would be around 60k approx. I am little confused. Kindly advise

If you still feel that you cannot afford term assurance and continue Jeevan Anand at the same time think of keeping Jeevan Anand as paid up and go for term assurance. Think about it thoroughly and decide.

Hello Sir – I have a policy that commenced on 2009 with Premium Paying Term of 21 years (Rs. 15,254 yearly) and Policy Term of 75 years (that means 2084).

The assured amount is 3 lacs (not a big amount). Can I surrender the policy now, on its 10th year, and would I receive any amount or I would have to carry on paying till PPT of 21 years to receive anything back.

Surrendering is possible for the policy. Only thing is that you will lose all the insurance benefits. Alternatively, you can keep the policy as paid-up without paying any further premium and receive the amount at maturity.

DEAR SIR – I HAVE TAKEN 15 POLICIES EACH RS 1LAK FOR 21 YEARS.IN 2013 AND PAYING HALFYEARLY PAYMENT OF 26100 ODD. I M NOT ABLE TO UNDERSTAND maturity benifits. I was told it is retirement plan type.

can u brief wat my policy exactly is.

There is no point in taking 15 policies of one lakh each with 21-year term. It cannot make a pension plan. Please check if the term is different in each policy.

YES SIR YOU ARE RIGHT- ALL 15 ARE OF DIFF TENURE 21Y 22Y 23Y AND ON

CAN U BRIEF HOW MY BENIFITS START?

NOT ABLE TO UNDERSTAND THIS.

This is a method of creating a pension plan. One policy matures every year from the 21st year to next fifteen years(36 Years). You can use the maturity amount to pay the future premium also if you wish.

For example, your first policy( 1 lakh sum assured) will mature on 21st year and the likely maturity amount is around 2.2 lakhs. You can use this maturity amount to pay your remaining 14 policies and balance can be used as a pension. In the next year, one more policy will mature and you can use it to pay the premium of 13 remaining policies. This will continue.

There are some advantages as well as some disadvantages in creating a pension scheme using multiple policies.

The advantage is that you need not pay income tax on your annuity as it is the maturity amount of the policy and is exempted under section 10(10D).

The disadvantage is that you may lose a high sum assured rebate as the policy is split into multiple policies.

hope it is clear.

THNQ V MUCH SIR JI FOR THE EXPLANATION. one final doubt sir.

its 7th year i have taken policy

and paid premium is rs 53k approx pa so far

wat if risk(normal or accidental) from here on before 21y and after 21 y.

THANKS IN ADVANCE

Before 21 years you will have insurance coverage of the total sum assured of 15 policies + accrued bonuses in all those policies + final addition bonus applicable. After 21 years you will get the benefits of remaining policies (which has not already matured) as on the date of claim.

is there any extra rider /benifit for accidental death

Only inbuilt accident/disability rider (Maximum 5,00,000) available in this plan. No extra rider available.

Dear Anish,

Thanks for the explanatory article. I started Jeevan Anand 149 in 2008 with ₹ 5,00,000 sum assured, 17 years PPT and 74 years of maturity term (2084, will be maturity year). However, now when I look at it, maturity in year 2084 seems too far away. Could you please suggest me the best options from: 1. whether to complete PPT and then surrender the policy 2. Reduce maturity term (I don’t know if this is possible) to for example 30 years or so 3. Terminate policy now? Could you please explain me the best option. What will be surrender value in option 1 and 3?

Thank you,

Kunal

Hi Kunal,

I fear you have not understood the plan properly. In this plan after completion of premium paying term, you will be getting the full sum assured + bonus + final additional bonus. So the policy will mature after 17 years. After maturity, only life long coverage continues. It is always good to have insurance coverage without paying any premium and that too till death. Then why should you surrender it?

Thanks for your prompt reply, Anish. I guess I got confused as the policy document states the date of maturity of 2084. But it’s really reassuring to have your expert comment on this. I will complete the PPT.

Can you please point me to some resources those can explain how to process the retrieval of maturity amount once PPT is complete? Thanks a lot for your guidance.

-Kunal

Happy to know that the confusion is cleared..

Well it is really simple to get the maturity amount from LIC.

They will send you a discharge form showing the maturity amount and it’s calculation along with a letter showing the registered bank details. You will be asked to confirm the bank account and if that’s not provided yet, you will have to provide it. Send the signed discharge from and policy bond by post to the branch office.

The process is over.

You will get the maturity amount credited to your bank account exactly on the maturity date..

Dear Anish

I have taken LIC Jeevan Anand -149 Plan in the year Dec 2010 and Sum assured in 5 Lakhs. As per the policy Premium Paying Term is 21(Half yearly). I have payed Premiums correctly without any miss until June 2019. If i want to Surrender the policy during the Premium Paying Term , is there a way i can calculate how much money will i get upon Surrender before Maturity.

Surrendering a policy is a loss especially to policies like Jeevan Anand which offers Life long risk coverage. If you do not want life long coverage, then what is the purpose of paying the premium this far. Think once again and take an informed decision. You can get the surrender value from the nearest branch office.

SIR I HAVE TAKEN POLICY OF JEEVAN ANAND 149 .

POLICY TAKEN 28/12/2013

AGE 29 YRS

POLICY TERM 71 YRS

PREMIUM PAYING TERM 25 YRS

DATE OF MATURITY 28/12/2084

SUM INSURED 500000

PREMIUM INSTALMENT HALF YEARLY 10571

ACTUALLY I WANT TO REDUCE THE PREMIUM PAYING TERM UPTO 7 YEARS ONLY SO I CAN GET THE MONEY BY THE MID OF NEXT YEAR IS IT POSSIBLE TO DO SO PLEASE GUIDE AS I NEED TO BUY HOUSE

Premium term can be reduced but the sum assured will also change. Contact the branch office..

Hello sir I took jeevan Anand plan in 2003 dec for 18 years for 10 lakhs premium. My maturity date ends by 2021.

So can I get all my maturity amount?

Jeevan Anand plan is designed in such a way to provide the sum assured and bonus amount after the premium paying term and life long coverage thereafter. Life long coverage can be surrendered if needed. But that is against very the purpose of the plan.

Dear Sir,

I have taken this policy, 15 policies on my name (Sapna age-27 as on when policy taken i. e on 2011) and 9 policies on my husband(Prasad 30 age as on 2011, when the policy was purchased) each 1lakh policy..for 25yrs, can you pls detail us about the policy

Hi Sapna, I think that you have purchased a combination of Jeevan Anand plan with a different term for each policy. This combination is called the magic plan combination which has certain advantages as well. This method is used to create a tax-free pension plan as one of the policy matures every year. As the pension amount created in this method is obtained from the maturity amount which is exempted under section 10 (10 D) of the income tax act. If you require more clarification let me know…

Dear Sir,

I am Jitendra 39 Yrs old. I have taken Jeevan Anand plan on 28/01/2006 with 75/22 table. Yearly premium is Rs. 11033/-. Till date I have paid premium, renewal for current year is yet to done. I am left with 8 years premium (including current year). As per calculation surrender value as on date is 172284/-. Shall I surrender this policy and go for term insurance and invest remaining amount in any Funds? Please suggest.

I don’t recommend surrendering a policy for the sake of investing in mutual funds. It is always good to keep a balance between investments involving risk and secured investments.

149/68 policy number: 923276964

which year is the last installment due?

What amt i can get after maturity?

can this money be exchange in other currency?

if u can email me, shall be apprecaite…

please use the calculator provided in the post itself to understand the expected maturity amount of your policy. the maturity amount can be converted to another currency only if the premium was paid in that currency.

Dear Sir,

I have taken the Jeevan Anand policy on 27/2/2004 and the premuim paying term ends this month. My query is after the maturity, Do I need to contact the LIC office to keep Life long coverage active or Is it done automatically?

Also, what documents will I recieve after the maturiy amount is credited?

If because of some unforseen circumstances I need to surrender the life long cover what documets should I keep in handy?

Looking forward to hearing from you

Thanks

Hi Yogesh,

The life long coverage is inbuilt in the Jeevan Anand plan and you need not do anything to initiate it. For settling the maturity amount you will have to provide your bank account details, Policy bond, discharge form, etc. Once the claim is settled, it will be endorsed in the policy bond and will be returned back to you. You can keep the original policy document for all future needs.

Thank you so much for the prompt reply

Honestly. I’m very new to this and slowly learnig about investment and taxes. But seeing your enthusiasm and passion to reply each queries on this post so honeslty and in a simplistic way, It gave me the courage to ask the quesion. I have never done this befoe but I’m really glad there are people like you who are doing this great job of helping people make the wise decison about there hard earned money.

So all the polices are handled by an agent ( friend of my realtive), but as an self-aware customer what sort of precaution and thing to keep in mind whwn it comes to commmucation with the agent. If he’s doing the job correctly or not, basically to keep a check on him. Right now my father and I go by what he says. What would you suggest?

Hi Yogesh,

Thank you for the nice words of appreciation. Well, as far as investment is concerned, please remember that life insurance is a long term investment. And it is always good to be double sure on the investments done by you. Because taking a corrective measure is difficult as time is ticking off… If your agent is well educated about the plans and good in analyzing your financial needs, its fine. You can always rely on his suggestions.

But leaving everything to him is not at all recommended.

Few things you can keep in mind.

1. Keep all the policy documents and copy of the proposal forms in your safe custody only.

2. Register all the policies in LIC’s customer portal so that you can track all the premium payments through the policy calendar provided in it.

3. Make sure that all your policies are registered with your mobile number and email and you are getting alerts from them.

4. Try mostly online payment and if any renewal premium is given to the agent make sure you get the receipts for them.

5. Create a small writeup of the benefit pattern of each policy and keep it with the policy document.

Thank you.

After how much time does one get the bond in Jeevan Anand after the amount is credited?

Also, my father just told me that Jeevan mitra (133) taken on 26/2/2004 also getting matued this month but couple of days back I registered this policy online and found that Policy statuis : In force is showing. Then I checked with the agent, he said It’s matured and no need to worry your amount will get credited on time. I don’t now what to make of this?

As the maturity date is 26th of February, the amount will be credited on 26th only. Usually, the bond is despatched back after doing the endorsement process as early as possible. But there is no strict time frame for that. You can collect it directly from the branch by hand also.

Hello Sir,

So my father is in serious dilemma right now, whether to go on with following polices or Stop it and invest in better option.

As I mentioned you before, due to limiited knowledge back then, the agent got him invlove in other polcies without explaining its pros and cons. I want to seek your advice on it, so to make a wise decison and how can we optimise the money. Because seeing your post and how thorughly you explained it with work and effort you put in, he respect and values you opinion way more then when I told him verbally about it.

1. Jeevan Anand ( 815) – taken on 13/03/2014 Sum assured – 3,00,000 End – 13/03/2029

2. Jeevan Anand ( 815) – taken on 13/03/2014 Sum assured – 2,00,000 End – 13/03/2029

3. Jeevan Rakshak (827) – taken on 08/03/2016 Sum assured – 2,00,000 End – 08/03/2026

4. Jeevan Rakshak (827) – taken on 08/03/2016 Sum assured – 2,00,000 End – 08/03/2026

Surrendering an insurance policy will bring in a loss as the surrender can be considerably lesser than your expectations. I don’t advise you to surrender your policies. Well, Jeevan Anand is a good policy as it provides life long coverage also in addition to the maturity amount. In whose name Jeevan Rakshak is given? Is it the same life or different life?

Jeevan rakshak is one of my father and other for the mother.

Ok.. I asked because maximum sum assured allowed under a single life is 2 lakh.

Sir I need your opinon on Jeevan rakshak. I trust your views and advice.

Hi Yogesh what you want to know about Jeevan Rakshak Plan. Please visit Jeevan Rakshak – All details.

my policy jeevan anand 149 plan taken at 10/01/2009 maturity date is 10/01/2079, premium yearly is rs 10689/- sum assured is RS 200000/- , paying term is 21 years, i paid 11 years but 1) now i want surrender so what is surrender value 2) what is benefits of policy paid up.

You can get the surrender value from the nearest branch office. But think twice before surrendering an insurance policy.. Especially Jeevan Anand plan with life long coverage.

Hello sir, just wondering Did you got my last message?

It’s been a while since I got a response from you

Please check the reply to your earlier message.

sir, thanks for getting back.

Please update this calculator

https://www.insurancefunda.in/lic-plan-presentation-software/

I also left a message below. I guess you have read it. It’s a lifesaver for people like use, to undersand and read the polices better who have limited knowledge and expereince about it.

Hi I have Jevan Anand 149 plan it’s 21 yrs plan my maturity is 2032 for sum assured 60000. After maturity how much I can get?

Please use the calculator provided in the post itself to get all details of the maturity benefits of the plan. If you have any difficulty please let me know. I shall help you.

i have 20 policies of jeevan anand 149 amounting to premium of rs. 67111 which is paid yearly, the premium is to be paid for 20 years, i have been paying the said amount from the age of 19 years and today my age is 30, what are the expectations from such policies, all twenty policies bear something called SUM ASSURED OF RS 1 LAC.

KINDLY GUIDE ME

I think you have purchased a combination plan where the term of the policy is different in each policy. This type of plan creation is called ‘magic plans’. This combination is used to create a tax-free pension plan where one policy matures every year. As the maturity amount is not taxable the pension created in this mode also will remain tax-free. Please check the terms of the policies.

Hello Sir,

Jeevan Anand (Plan-149)

Age

22 Yrs

Premium Paying Term

38 Yrs

Policy Term

78 Yrs

Commencement Date

19/05/2009

Date of Maturity

19/05/2087

Can you please confirm when will i get the maturity amount (in 2047 or in 2087)?

It’s quite confusing as online portal is showing date of Maturity as 19/05/1987

Thanks,

Antriksh

Hi Antriksh Kakkar,

Your maturity date is on 2047 only. But you will be provided with life long insurance coverage equal to the sum assured of the policy up to 2087. I think it is clear.

Yes clear. Thank you sir

Hello sir,

I want to know surrender value of my policy. I have paid all the premium till the date (29 premium X 3319 rs).

Jeevan Anand (Plan-149)

Age

23 Yrs

Premium Paying Term

35 Yrs

Policy Term

77 Yrs

Commencement Date

17/11/2012

Date of last payment

17/08/2047

Total sum assured

500000

Surrendering a policy before maturity is a loss to the policyholder. Jeevan Anand is a good policy with decent maturity returns and life long insurance coverage. Think twice before surrendering a policy. Providing surrender value through this site is against the policies. So I cannot give it here. You can get the value from the nearest LIC branch office.

Surrender value can be obtained from your nearest branch office… Providing surrender value here is against the policy of insurancefunda…

मैं अपना lic के बारे में ऑनलाइन जानकारी चाहता हु।जैसे due date,premium ki rashi,कितने अवधि के लिए है इत्यादि।

कृपया LIC की वेबसाइट http://www.licindia.in में अपनी पॉलिसी पंजीकृत करें। यदि आपको पंजीकरण के बारे में कोई संदेह है, तो कृपया नीचे दिए गए लिंक की जांच करें। LIC redesigns eServices and launches Premier Services

Respected sir ,

I have jeevan anand 149 plan commencement at 2013 with sum assured 6 lakh, premium paying term 21yrs, Till now i have paid 7 yearly installment of Rs.30267..On my lic profile bonus,guaranteed addition shows Rs.178800 .. If i apply for loan on this policy how much i will get, please give me some figure as per your experience instead of saying contact your branch.. please give me approximate figure using your experience..

Approximately you will get 1,35,000 as loan.

Thank you sir for quick and useful reply

Thank you..

Hello Sir

I have jeevan anand plan 149.

Date of commencement of policy 2012

Number of policies issued by LIC : 19

Age at entry : 27 Years , Term :73 (Full Life)

Premimum payment term : 23 to 41 Yrs

My LIC advisor has given 19 policies to me with Premium payment term ranging from 23 Yrs to 41 Yrs. When i enquired about the PPT he told me that premium payment term is only 23 yrs for all policies. I am confused as the policy document indicates different premium payment terms in each policy.

I would like to know the following

1.Do i have to pay the premiums as per the PPT or is the statement made by LIC advisor correct?

2.If I stop paying the Premium from 24th year onwards will the premium be deducted from maturity benefit and will it impact the maturity benefit.

3.Can I request LIC to convert all 19 policies into 1 single policy and make the PPT to 23 Yrs

4.Can I request LIC to reduce my policy term to 28 Yrs (ie by the time I am 55 Yrs old) & will there be a reduction in premium that is done ?

Please advise.

Thanks

Nagesh

Hi Nagesh,

What I understand is that the agent has provided you a combination plan of 19 policies..

This is a method to create a pension plan with out tax liability…

The combination is designed in such a way that one policy matures every year. It can be considered that you are paying premium only upto the maturity of first policy.. after that a part of the maturity amount can be used for paying further premium… The advantages include higher bonus and longer insurance coverage and tax free pension.

Converting policies to lower term can bring loss to you..

I think it is clear..

Hello Sir

I have jeevan anand plan 149 policy

Policy commencement :2012

Age at commencement : 27

Policy Term :73

Number of Policies issued :19

PPT : 23-41 Yrs

LIC advisor has told policy premium payment term is only for 23 Yrs. However the policy documents has different premium payment term in each policy varying from 23 to 41 yrs.

Could you advise few queries below

1. Can i request LIC to alter my policy term

2. Can i request LIC to provide only 1 policy with 23 Yr payment term rather than 19 different policies with different PPT

3. Will there be a change in premium if i reduce the policy term and will it impact on SA and Maturity benefit.

4.Is LIC advisor statement correct that PPT is only for 23 Yrs and remaining premiums will be deducted from maturity amount.

Thanks

Nagesh

Hello Sir

Thank you for the reply. It is clear now.

Regards

Nagesh

Hi Anish

Thanks a lot for your detail explanation about the Jeevan Anand policy and answering lot of people like me.

I am having Jeevan Anand plan 149 policy as below.

Date of commencement of policy 01/08/2011

Age at entry : 26 Years,

Premium Paying Term: 21 years

Sum Assured: 1000000

Term :74

Date of Maturity: 01/08/2085

My LIC advisor suddenly expired and I left alone with my policy. Therefore I just started looking in to future premium payments scenario and maturity receiving instruction through online. I got the option to pay the yearly premium through online but there is no information about the how I will receive the maturity amount. Also I am living outside India since last 5 years so I have few question related to future citizenship status and how this LIC policy will be applicable for me.

1. What will happen if I change my citizenship with regards to my policy. The policy will be still valid after citizenship change?

2. When I will be able to withdraw the sum assured value and what is the process for that. Is it possible through online?

2.Is it possible to terminate the policy now and in that case how much money I will get back. (I have paid 9 yearly premium so far)

Your answer will be very helpful to understand my future circumstances.

Please advise.

Thanks

Prasenjit

Dear Prasenjit Roy,

1. Change in citizenship will not affect the maturity proceedings of your policy. One thing you should remember is that you should maintain a savings bank account in India to receive the proceedings. Maturity settlement is hassle-free and can be done without your physical presence in India. Just send the Policy document and bank details and signed discharge form and the amount will be credited in your bank account on due date. The discharge form can be obtained online also.

2. You will receive the maturity amount on completion of the premium paying term of the policy. The maturity amount includes Sum Assured + Vested Bonus + final addition bonus.

3. Surrendering the policy is possible but I will not recommend it as it can bring in a loss. Further, Jeevan Anand is a policy that will provide life long insurance coverage which is not available in other schemes. It is better to keep it.

My name spelling change-up Brijveer Singh to Brajvir singh ……please convey.. Police number-564020514…..

You will have to contact nearest branch office and give a request along with id proof and proof of exact name to make changes in the policy.

My dad took this policy on 28-May-2012 when he was 49 years old. The yearly premium is Rs.8623/-, sum assured is 1 lakh and premium paying term is for 16 years, whereas the maturity date is 28-May-2063. I would like to know about it’s death benefit terms.

This is a Jeevan Anand policy and your father will be getting entire sum assured + bonus + final addition bonus after 16 years. Life long coverage equal to sum assured will be available up to his 100th age (or year 2063). I think it is clear.

Thanks for the reply sir

Hi sir. .taken j anand in apr2013, plan 149, 21 yrs, SA 5 lakh, premium half yearly 12935/-, 5 premiums paid, unpaid from oct2015, lapsed, is it beneficial to revive it? Or can i surrender it now?

Reviving a policy is always advisable as you are getting the coverage at a lower premium as it was taken at a younger age. Please remember that you can revive the policy only till five years from the lapse date. So be fast and do it before OCT 2020. Further, if you do not revive it entire amount paid by you will be lost.

my policy plan is 149 (jeevan anand) year of 2013. policy term is 16 years and it is amount of Rs. 500000.

so after 16 years how much amount i receive with benefit.

872500 is the approximate maturity amount as per latest declared bonus rates. Life long coverage of Rs 500000 also will be available after receiving the maturity amount.

Sir I have started a Jeevan Anand policy on 2011.plan-149 term-78 with sum assured 500000.can u please help me out when will be the maturity period and what would be the amount.

The maturity of Jeevan Anand policy is after the premium paying term of the policy. Only life long insurance coverage continues after that. And life long coverage is available for 100 years of age which is 78 years from the date of commencement of the policy. Please use the calculator provided in the post itself to get an approximate maturity amount.

Hi,

I have LIC Jeevan Anand (Plan 149) in 2006 with 100000 SA. Paying Term is 25 Years. But i do not want to Continue. Please advise what amount will be given back after surrendering the policy in 2020.

My policy is for 25 years and i started my policy in 2013 with a sum assured of Rs. 10lkhs.

In my policy it is showing maturity date on 2089.

So can any please let me know whether i will get the maturity amount after 25 yrs or after 76 years.

Thanks

The Maturity of Jeevan Anand policy is after the completion of premium paying term which is 25 years. Life long coverage equal to sum assured will be available till 2089.

Hi Sir, For Jeevan Anand 149 Policy, Can I surrender the policy after 9 years? what Will I get full amount equal to premium paid or less ?

Surrendering a policy can bring in a monetary loss as well as a loss of valuable insurance cover and has to be avoided as far as possible. So we do not give surrender value of policies here. well, the total surrender value of a 9 year paid policy will be slightly higher than premium paid.

Hello sir, For Jeevan Anand 149 Policy, premium paying term is 15 yrs. Can I surrender the policy after 10 years? Premium paid is 74934 yearly. Will I get full amount equal to premium paid or less..and how much will the amount be?

Policy can be surrendered but think why you need to surrender it especially in this Covid situation…

Due to financial obligations I need to surrender the policy.., Will I get full amount equal to premium paid or less..and how much will the amount be?

It depends on the term and premium paid period. If you have paid more than 8-9 years you may get higher than the premium paid while surrendering.

I PAID POLICY FOR 8 YEAR SO NOW I CAN CONTINUE THIS POLICY OR WITHDRAW. Is it possible that i can pay premium upto 15 year to conitune this policy or pay upto maturity date.

If you want to get all benefits of the plan you will have to pay premium till the end of the premium paying term. Surrendering can bring in loss to you.

Jeevan Anand 149 Policy, premium paying term is 15 yrs.commencement date of policy 28/08/2010. I wish to submit this year after 10 years of premium paid ? Premium paid is 74934 yearly. Will I get full amount equal to premium paid or less

Please contact the nearest branch office for the surrender value of the policy. Please remember that surrendering the policy can bring in financial loss and loss of valuable insurance coverage.

Dear Anish,

We have taken a Jeevan Anand 149 Plan in 2012. The Plan detail is :

SA: 3500000

Policy Term: 70 years

Premium Paying Terms : 21 Years

Commencement Date: 28/11/2012

Date of Maturity: 28/11/2082

The amount is quite high so I have stopped paying premium from 2019 due to financial problem..

Current Policy Status: Reduced Paid-up

We are quite worried and want to know:

1. Can I add nominee after Reduced Paid-up status.

2. How much will I get as Maturity Amount and when will we get the maturity amount as the Date of Maturity is showing – 28/11/2082.

4. is it a good idea to continue with the Premium Payment.

We are really confused with the Policy Term, Premium Paying Terms and Date of Maturity.

Regards,

Nitul

See the reply for another question provided by you.

Dear Anish,

We have taken a Jeevan Anand 149 Plan in 2012. The Plan detail is :

SA: 3500000

Policy Term: 70 years

Premium Paying Terms : 21 Years

Commencement Date: 28/11/2012

Date of Maturity: 28/11/2082

The amount is quite high so I have stopped paying premium from 2019 due to financial problem..

Current Policy Status: Reduced Paid-up

We are quite worried and want to know:

1. Can I add nominee after Reduced Paid-up status.

2. How much will I get as Maturity Amount and when will we get the maturity amount as the Date of Maturity is showing – 28/11/2082.

4. is it a good idea to continue with the Premium Payment.

We are really confused with the Policy Term, Premium Paying Terms and Date of Maturity.

Please use the calculator provided in the post itself to a understand the benefits of the plan if all the premium are regularly paid. Jeevan Anand is an excellent policy which offers a series of benefits. The premium paying term of the policy is 21 years and the plan will mature after the premium paying term of 21 years. You will get sum assured + bonus + final additional bonus after the completion of the premium paying term.

The policy provides life long coverage even after the completion of the premium paying term which is equal to sum assured. This coverage will be available up to 2082. So it is an excellent policy and please try to revive it and continue the policy. Nomination can be changed any time.

Hello Sir,

My Jeevan Anand Policy(149 B)-218392294 has paying terms of 21 years ,

1) How much amount will I get after all premiums paid up ?

2) Till date have paid 11 premiums in 11 years, what sum will I get if I surrender the policy now?

Thanks & Regards

Please use the calculator provided in the post itself to understand the benefits of the plan better. If you have any difficulty, please let me know.

Dear Anish,

I have taken a Jeevan Anand 149 Plan in 2010. The Plan detail is :

SA: 500000

Age at entry: 24 years

Policy Term: 76 years

Premium Paying Terms : 21 Years

Commencement Date: 15/10/2010

Date of Maturity: 1510/2086

I have following query:

1) Should i surrender it as return is not much. I have paid 10 yearly premium installments and 11 yearly premium installment pending?

2) Should i convert it into paid up policy? In Paid up policy what will be accident coverage or death coverage after completion of premium payment term (i.e after 21 years ).

3) if i continue paying premium till end of premium payment term what amount will i receive including bonuses?

4) After premium payment term period i will be covered under insurance cover or Rs 5 lakh (SA) till maturity period. what happens if surrender the policy after completion of premium payment term . Let say i surrender policy at age of 50 years, will i get 5 lakh insurance amount at that time.

Please see the reply to your same query.

Dear Anish,

I have taken a Jeevan Anand 149 Plan in 2010. The Plan detail is :

SA: 500000

Age at entry: 24 Years

Policy Term: 76 years

Premium Paying Terms : 21 Years

Commencement Date: 15/10/2010

Date of Maturity: 15/10/2086

I have few query related to continuing the policy:

1) Should i surrender the policy as yearly installment is high and net return is not good in terms of maturity amount. I have paid 10 yearly premium installment and 11 yearly premium installment is pending.

2) Should i convert it in Paid-up policy. What amount will i get at end of maturity period. Did the benefit of lifetime insurance of 5 Lakh will continue after maturity period or not.

3) If i continue paying yearly premium till end of maturity , how much amount will i get? After completion of maturity period let at age of 50 years if i surrender the policy will i get life time insurance amount Rs 5 lakh or some less amount ?

The returns of the Jeevan Anand policy are comparatively good. If you are telling it is low that means you are comparing it with some investments which are not comparable with it. You should analyze the risk element and insurance element when you compare it with other investments.

If you surrender the life coverage after maturity you may get around 60% of the sum assured.

Respected Sir,

What s my benefit of jeevan anand 149 i have been paying 24,650 per year. Since. 2012 willbe finishing 2021 November

I need a clear picture what s my benefits and what will be the loss if i withdraw

Becaz the policy says i will receive the amount at the age of 78 yrs only i think its too much to wait and i feel no bonus per year no income then what is the use. Sorry for asking

In the Jeevan Anand plan, the maturity amount is available after the completion of the premium paying term. The maturity amount includes Sum Assured + bonus and the final additional bonus. Even after the maturity amount is received life long coverage shall be available up to 100 years of your age. Please check the premium paying term of your policy.

I think you have confused the life long coverage with the maturity term of the policy.

Hi Anish,

I’ve active Jeevan Anand plan 149 from year 2009. (Policy term 68 yrs, premium paying term 22yrs, yearly payment ~INR21350, sum assured INR400000)

In 2014, I moved out of India and high likely will be citizen of UK.

Is there any point in still paying premium for this policy and will it be still valid if am no more Indian national.

My friend dad has jeevan anand policy (Rs 100000 ). Her father died last month. And when she checked status of insurance it is showing Reduced paid up . What does it mean how much money she will receive totally. Thank you.

Reduced paid up means the policy is in lapsed condition but the premium has been paid for more than three years and hence the policy has a paid up value. He will get insurance coverage based on the available paid up value of the policy. As from the question l cannot say how many years premium are paid, I cannot estimate the amount payable as claim. Please contact branch office.

Hi Anish,

This is a question regarding total maturity amount from Jeevan Anand Plan 149.

Shall life long cover be payable too along with maturity benefits in case I surrender my life long coverage?

Thank you.

please see the reply to your other question.

Hi Anish,

This is a question regarding total maturity amount from Jeevan Anand Plan 149.

Shall life long cover be payable too along with maturity benefits in case I surrender my life long coverage?

Thank you.

Life-long coverage can be surrendered but only a portion of the death coverage will be available to you if you surrender the death coverage and the amount available will vary based on the age at which you are surrendering the policy.

I read the above comments, but still want to clarify on this.

My wife took Jeevan Anand Policy for 16yr Term, Rs 1,50,000/- in 2005. So last year she completed the premium paying term (as showing in the LIC website).

1.) So the Sum Assured + Bonus + Final Bonus is what she will get right?

2.) Also is that amount going to get deposited in her bank account she gave? Or she has to go to LIC office to get that amount at any time? Right now we are in US and if it can be done online with LIC Customer care or any other means or her mother can go ask LIC Agent to get it done i.e. I mean my wife has to be physically present at a LIC Office? If that is the case, she can collect the amount when she goes to India next year?

3.) After taking all the amount, the life policy still holds good and in the event of accident or death, the beneficiary will get how much amount? Life long coverage of Rs 1,50,000/- (upto 100 yrs of age) and accidental coverage of Rs 5,00,000/- (upto 70yrs of age?

In order to receive the maturity amount, your wife need not be present in India. But make sure (1)that you are maintaining a savings account in India and the account should be NR(O). NR(E) accounts cannot be used for crediting maturity payments. (2) Make sure that your account details are added to the policy. (This can be done by sending a letter to the branch office with the proof of your account). 3) Make sure that your email id and the correct address to send the maturity discharge form (which is usually sent by post to the address mentioned in the policy before 2 months from the maturity date) are provided in the policy.

The payment of the maturity benefit is as mentioned by you in(1). You will have to submit the discharge form and policy bond to the branch office to get the maturity amount credited to your account. Remember that you can send it by any mode to the branch and you need not be physically present here.

They will return the policy after making necessary endorsements to facilitate life long coverage of the policy.

Accidental coverage cannot be higher than the sum assured and the accidental coverage can be only up to 1.5 lakhs.

Sir, I took Jeevan Anand (149) in 2011 at the age of 29. I am supposed to pay a premium till further 25 years and the maturity date mentioned on my policy document is in 2082 which is after a tenure of 71 years. I am unsure if I should continue with this policy and keep paying a premium of 24K (approx.) for another 15 years. Please please advise what could be the best option for me. Thank you.

Jeevan Anand is a good policy that offers life long coverage and decent returns compared to the current bank rates. If you break the policy in between or surrender the policy it will be a great loss for you.

1-7-2009 to 1-12-2020 tak par month 1785/-rs.de rha hu.meri policy 25 years ki h .kya m esko 15 year s ki krwasakta hi.jo muze 1-7-2024 tak puran hone par muze Pura labh mil sake ,ya ab sarrendar Karne par aaj tak ke pure rupye mil sakte h kya.ya kitne milenge

While surrendering the policy full bonus accrued to your policy will not be paid. There is a surrender value factor which varies from 30% to 100% based on the completed term of the policy. The total bonus accrued will get reduced by the surrender value factor base on the date of surrender of the policy.

Hi Sir,

My Jeeven Anand plan is maturing on Novemebr 2021. I already provided my bank details for the other money back policy. Do I need to give the bank details for this jeevan Anand policy again?.

Please note both the policies are in the same LIC branch.

Yes, you will have to submit again it for the newly maturing policy also

Im 46 years old.I have paid the stipulated premium till 2019 (for 16 years).Sum assured is Rs 100000.what the manurity amount and when can i get it?Secondly what are the benefits of this policy ?

I have fully paid up this policy with paying term of 15 years and date of maturity 27/04/2075.

Policy term is 69 years . What should I do now . I have not heard about anything from lic so far

Maturity amount will be paid to you after the end of the premium paying term. And life long Insurance coverage equal to sum assured will be available till 2075.

Hi Anish,

I have Jeevan Anand 149 plan. Commencement date is 28/3/2004. for 69 years term .During that time I was unmarried and added my brother as benificary, now I’m married and currently in US ,so would like to change the address and add benificary as my wife. What is the process?

Nominations can be changed any time. You can do it in your next visit to India.

GUD EVENING SIR CAN SOMEONE HELP ME WITH THIS?

MY FRND HAS JEEVAN ANAND 15 POLICIES EACH 1LAK FOR 21 YEARS TAKEN IN 2013

UNFORTUNATELY HE DIED LAST WEEK WITH SNAKE BITE AFTER FIGHTING FOR 2 DAYS-

1. HE IS SINGLE AND NOMINEE NAME IS HIS MOTHER ( WHO PASSED AWAY 2 MONTH BACK)

HIS FATHER IS 75Y+ ALIVE— WILL THE POLICY BE VALID??

2. WHAT IS THE PROCESS/NEXT STEP TO GO FORWARD?

3. HOW MUCH AMOUNT ACCRUES/DUE TO BE PAID NOW?

4. ALL 15 BONDS ARE WITH LIC FOR SOME LOAN OF 50/60K — IS IT A PROBLEM? (INTEREST PAID ON TIME)

5. DONT KNOW EVEN WHO THE AGENT IS WHO PROCESSED THIS POLICY 8Y BACK

6 WHAT ALL THE DOCUMENTS REQUIRED FOR CLAIM PROCESS AND HOW LONG WILL IT TAKE?

IT WILL BE OF GREAT HELP IF SOMEONE HELPS/GUIDES WITH THIS

I do not find any issue in getting the claims in the policies. As the nominee is not alive the claim will go to the legal heirs of the nominee and to prove that, legal heirs can produce an heirship certificate. The loan in the policies will not affect the claim process. Only thing is that the outstanding loan and interest if any will be deducted from the claim amount.

Contact the parent branch office and they will guide you to settle the claim.

I am checking online policy status and it’s show that bonus, guaranteed addition is Rs 1,95,500.

Can I withdraw this bonus?

Suggest me

Please check the answer to your other question.

Hi sir

I have Jeevan Anand 149 policy

Age term 21 yrs

Policy terms 79 yrs

Premium paying terms 21 yrs

Date of commencement 05/10/12

Date of maturity 05/10/91

Sum assured Rs 5,00,000

I am checking online policy status and it’s show that bonus, guaranteed addition is Rs 1,95,500.

Can I withdraw this bonus?

Suggest me

The bonus that was shown when you checked has already been added to the policy but LIC has the liability to pay this bonus to you on the date of maturity of the policy. You cannot withdraw the bonus alone before maturity. You can surrender the policy but LIC will pay only a discounted value of the total bonus added to the policy if you surrender the policy before the maturity date.

Hi Anish,

I have Jeevan Anand 149 plan and the policy term is 16 years that 2023 is my last year of premium. If I surrender the policy at the age of 60 years what is the benefit. Kindly advise

We do not provide surrender value of policies here. Please contact nearest branch office.

Hi Anish,

Hope you are doing well.

I have taken Jeevan Anand (Plan-149) Policy on 28 Dec 2011 for 11 Years and Sum Assured in 100000.

As per Policy, the Last Premium is 28 Dec 2021 and I have paid all the premiums including this Year as well.

Until today the Bonus is showing as 36,500.

As I have paid all the premiums, can I claim the Maturity now?

Regards

Ravi

Even if you have paid the last premium on 28 Dec 2021, your policy will mature only on 28 Dec 2022.

What does it mean by life long coverage of 10 lakh. When will i get it. At the age of 100 years ??

Coverage means insurance coverage. It will be paid to the nominee if the insured unfortunate event happens to the policyholder.

Hi

I finished all my premium on this month ie. 16 yrs.

I want to know after taking the assured value will it keep cover life insurenace and Accidental insurance ? Till the age of 72.? Please clarify

if you have purchased the Jeevan Anand plan you will have lifelong insurance coverage equal to the sum assured even after receiving the sum assured and the bonus of the policy.