LIC Jeevan Anand Calculator: Estimate Premiums and Maturity Instantly

1. Introduction

The LIC Jeevan Anand calculator stands out as a vital resource for those exploring this distinctive endowment plus whole life assurance option. Distinct from standard endowment policies, Jeevan Anand delivers combined advantages. It acts as an endowment during the term and extends whole life protection up to age 100.

This free online tool lets users project premiums, maturity payouts, and ongoing coverage details right away. Such features support smarter choices for safeguarding family finances.

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2. About the Plan - Key Details

Plan Overview: New Jeevan Anand emerges as a blended policy that merges endowment elements with whole life aspects. Its clever structure guarantees maturity returns upon surviving the term. Coverage persists as whole life until age 100 or earlier death.

Eligibility and Terms: Entry Age Range: 18 to 50 years. Policy Term Options: 15 to 35 years. Maximum Maturity Age: 75 years. Minimum Sum Assured: ₹1,00,000 (no upper limit).

Premium Payment Options: Regular Premium payments span the full policy duration.

Age Calculation: Age Nearer Birthday approach (LIC's usual method).

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3. Key Features & Benefits

Maturity Benefits: Surviving the chosen term brings the complete basic sum assured. Add vested Simple Reversionary Bonuses built up annually plus any Final Additional Bonus from LIC.

Death Benefits During Policy Term: Death in the term pays nominees the death sum assured. This takes the higher of basic sum assured or 10 times yearly premium for larger cases.

Post-Maturity Death Benefits: Post-maturity, death before 100 triggers payment of the then-applicable sum assured to nominees. Protection flows on through life.

Tax Benefits: Claim deductions on premiums via Section 80C, up to 1.5 lakh yearly. Maturity and death proceeds stay tax-free under Section 10(10D).

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4. How to Use the Calculator

Step 1: Enter Date of Birth

Tap the Date of Birth field to open the calendar. Select your exact birth date from the dropdown. The system applies LIC's Age Nearer Birthday rule automatically.

Step 2: Input Sum Assured

Type your target coverage amount in the Sum Assured field. The minimum starts at ₹1,00,000. You add amounts in ₹1,000 increments.

Step 3: Choose Policy Term Duration

Select your preferred term from the dropdown menu. Options include 15, 20, 25, 30, or 35 years. The calculator checks your age to ensure maturity stays below age 75.

Step 4: Select Payment Frequency

Choose from four options: Annually (factor 1.0), Semi-Annually (factor 0.51), Quarterly (factor 0.26), or Monthly (factor 0.088).

Step 5: Calculate and Review Results

Select the Calculate button to review your results. You will see the annual premium, installment details, total payment, maturity values with the sum assured and estimated bonuses.