Insurance Blog

LIC New Jeevan Anand review

LIC New Jeevan Anand is a whole life insurance with investment plan. In this policy, you shall invest on a regular basis for a specified number of years till the maturity date. On maturity, the Sum Assured with Bonus and the Final Additional Bonus, if any would be paid to the policy holder. But still even after receiving the maturity, the whole life equal to the sum assured will exist for the policy holder till the end of their life. If the policy holder survives till the end of his / her 100th age, then the sum assured would be provided to the policyholder. In case, if the policy holder expires before completing their 100th age, his / her nominee would receive the sum assured amount.

You shall calculate the premium and maturity returns of New Jeevan Anand policy here.

Comments (6) -

  • Sumit

    6/22/2016 12:32:35 AM | Reply

    I had purchased a New Jeevan Anand policy of 18 years term in April 2015. My policy premium is being detected directly from my bank account every month on the due date. But i could see the premium amount has been reduced from April 2016. Is it possible that the policy premium would change ? I had heard that it would be constant through out the tenure of the policy.

    • Rajasekaran

      6/24/2016 10:55:31 PM | Reply

      The premium that you pay for your insurance policy consists of two parts - The policy premium and the service tax. In these, the policy premium would be constant. But the service tax would possibly vary. The service tax on your investment insurance policies for the 1st year would be 1/4th of the existing service tax rate at that time. Currently, the Indian govt service tax rate is 15%. So the the service tax on the first year of your policy will be 3.75% of the premium. From the second year onwards, the service tax on your insurance policy is 1/8th of the govt service tax rate. So, the service tax rate is 1.875%. Added to this, consider that the govt changes the service tax rate, then the tax you pay on your premium also will vary. So, the service tax part attached to your premium is subject to change.

  • Madhushree Podder

    7/22/2016 9:53:59 AM | Reply

    Hi,Reg. LIC NEW JEEVAN ANAND PLAN - 185 :I am a 25 yrs old Female.Could you plz suggest how much would be the monthly premium for a Sum Assured of 1000000 for a period of 10 yrs.

    • Manoj Aswani

      7/22/2016 9:55:11 AM | Reply

      The minimum term is 15 years in this plan

      PLAN:815 New Jeevan Anand
      Yearly: 75939
      Half Yearly: 38372
      Quarterly: 19388
      Monthly: 6463

      PLAN:815 New Jeevan Anand
      Yearly: 38220
      Half Yearly: 19311
      Quarterly: 9756
      Monthly: 3252

      Service Tax is not shown in the calculation.
      Premium Shown Above is Indicative and not Exact

  • Deepak

    7/22/2016 9:56:09 AM | Reply

    Hi Deepak, I'm 27 years old now .Could you please advise me, if I buy this New Jeevan Anand plan for 21 years, Sum Assured of Rs 6,50,000, current bonus rate is 48, then how much monthly premium I have to pay and approx how much I can expect on maturity.

  • PolicyTray

    7/22/2016 9:58:32 AM | Reply

    You will need to pay Rs.2893 + Service Tax as monthly premium

    For complete details of amount you can expect on maturity, ask for a sample illustration at the time of buying.

    For Sum Assured:650000, Term:21 yrs, Age:27

    Yearly: 33983
    Half Yearly: 17173
    Quarterly: 8678
    Monthly: 2893

    Service tax is not included in above quote