LIC Jeevan Anand: Protection + Savings Combined

LIC New Jeevan Anand (Plan 915) is the plan I have sold more than any other in my career, and for good reason. It solves a problem that many families face: they want both savings (money at the end of the term) and life cover (protection for their family). Jeevan Anand delivers both.

Here is the structure. You take the plan for a fixed term, say 20 or 25 years. At the end of this term, LIC pays you the sum assured plus all bonuses accumulated over the years. This is the maturity benefit, and you receive it regardless of whether or not you made any claims during the term. But here is the unique part: after the term ends and you receive your maturity payout, the basic life cover (sum assured) continues for your family as a whole life cover, at no additional premium, for the rest of your life.

So effectively, you get a savings plan plus a permanent life insurance policy bundled together.

Let me illustrate with real numbers. A 30-year-old taking ₹10 lakh sum assured with a 20-year term pays approximately ₹52,000 per year. Over 20 years, the total premium paid is roughly ₹10.4 lakh. At maturity (age 50), they receive approximately ₹20 to ₹22 lakh (sum assured + bonuses). The exact bonus depends on LIC's annual bonus declaration, which has historically been ₹40 to ₹50 per ₹1000 sum assured per year for Jeevan Anand. After maturity, the ₹10 lakh life cover continues free of charge.

Who is this plan best for? Middle-income families who want disciplined savings with guaranteed growth and simultaneous life cover. Parents who want to build a lump sum by the time their children are ready for higher education or marriage. Anyone who finds pure investment products too complex or risky.

One thing I always make clear to clients: Jeevan Anand is not the highest-return savings instrument, fixed deposits or mutual funds may give higher returns. But it combines guaranteed growth, tax benefits under Section 80C and 10(10D), and life cover in one package. That combination has real value for most Indian families.

For a personalised premium calculation and maturity illustration for your age and income, call 9415313434.