What Is LIC Jeevan Anand?
LIC Jeevan Anand is a participating (with-profits), non-linked life insurance plan that combines an endowment savings plan with a whole life plan. The name "Anand" (joy) refers to its defining feature: unlike a plain endowment plan where your life cover ends the day it matures, Jeevan Anand pays you the full maturity amount and keeps a life cover running for the rest of your life, at no extra premium. This Jeevan Anand maturity calculator estimates that maturity amount for both versions of the plan that people commonly search for — the currently on-sale New Jeevan Anand (Plan 715) and the older, withdrawn Jeevan Anand (Plan 149) that many existing policyholders still hold.
Old Jeevan Anand (Plan 149) vs New Jeevan Anand (Plan 715): What's Different
LIC's Jeevan Anand line has been relaunched several times as regulations and bonus structures changed. Plan 149 was sold from 1 February 2002 to 1 February 2014, with a minimum Sum Assured of ₹25,000 and entry age up to 55 years, maturing by age 70. It was withdrawn and replaced by Plan 815, then Plan 915 (launched 1 February 2020, withdrawn 1 October 2024), and now by the current New Jeevan Anand, Plan 715 (UIN 512N279V03), which has a minimum Sum Assured of ₹2,00,000, entry age of 18-50 years, a policy term of 15-35 years, and a maximum maturity age of 75.
| Feature | Old Jeevan Anand (Plan 149) | New Jeevan Anand (Plan 715) |
|---|---|---|
| Status | Withdrawn (1 Feb 2014) | Currently on sale |
| Entry Age | 18–55 years | 18–50 years |
| Policy Term | 15–35 years | 15–35 years |
| Max. Maturity Age | 70 years | 75 years |
| Minimum Sum Assured | ₹25,000 | ₹2,00,000 |
| Death Benefit (during term) | Sum Assured + vested bonus | Higher of 125% SA or 7× annual premium, min. 105% of premiums paid, + bonus |
| Post-Maturity Cover | Basic SA continues till age 100 | Basic SA continues till age 100 |
If your policy was bought before 2014, it continues exactly under Plan 149's original terms — a new plan launch never changes an existing policy's terms.
How This Jeevan Anand Maturity Calculator Works
On survival to the end of the policy term, both versions of Jeevan Anand pay: Maturity Value = Basic Sum Assured + Total Vested Simple Reversionary Bonus + Final Additional Bonus (if applicable). This calculator applies your chosen bonus rate for every completed policy year and adds it up, then adds a one-time Final Additional Bonus if you switch that on (commonly applicable for policies that have run 15 years or more). It also shows a year-by-year table so you can see how the maturity value would look if the policy matured in any given year, and — if you enter your known annual premium — an approximate annual return (IRR) on your money.
What Are Simple Reversionary Bonus (SRB) and Final Additional Bonus (FAB)?
Simple Reversionary Bonus is declared by LIC once a year, at the end of each financial year, based on its investment and mortality experience for that year. Once declared, it "vests" — meaning it's locked in and paid at maturity or death regardless of what happens to bonus rates in future years. It's expressed as a rate per ₹1,000 of Sum Assured (for example, ₹45 per ₹1,000 SA), and this rate can go up or down year to year — it is never guaranteed in advance.
Final Additional Bonus (FAB) is a one-time additional bonus LIC may declare, payable only at maturity or death claim, usually for policies that have been in force for a minimum duration (commonly 15 years or more). It's meant to reward long-term policyholders and is separate from, and in addition to, the yearly Simple Reversionary Bonus.
The Real "Anand": Life Cover That Continues After Maturity
This is what sets the Jeevan Anand series apart from a plain endowment plan. Once you receive your maturity payout, you don't lose your life cover — the Basic Sum Assured automatically continues as a paid-up whole life cover until age 100, with zero further premiums. If the policyholder passes away any time after maturity (and before turning 100), the nominee receives this Basic Sum Assured as a death benefit. This calculator shows roughly how many years of this "free" cover you'd have, based on your age at entry and policy term.
Tax Benefits and Rules on LIC Jeevan Anand (2026)
Section 80C: Premiums paid can be claimed as a deduction up to ₹1.5 lakh per financial year — but only if you're filing under the old tax regime. The new tax regime, now the default for most taxpayers, does not allow this deduction.
Section 10(10D): Maturity proceeds are tax-exempt if, in every policy year, the premium does not exceed 10% of the Sum Assured (for policies issued after 1 April 2012). For policies issued on or after 1 April 2023, if your total annual premium across all such non-ULIP life policies exceeds ₹5 lakh in a year, the 10(10D) exemption no longer applies and maturity proceeds are taxed (death benefits remain tax-free regardless).
GST update (2026): Under the GST 2.0 reform, individual life insurance premiums on policies issued on or after 22 September 2025 are exempt from GST — a genuine reduction in your outgo compared to the earlier 4.5% (first year) / 2.25% (renewal) GST that used to apply. This calculator assumes your entered premium is the actual amount payable, since GST no longer adds to it.
Riders You Can Add to Jeevan Anand
New Jeevan Anand (Plan 715) allows up to 3 optional riders for extra protection at a small additional premium: LIC's Accidental Death and Disability Benefit Rider, LIC's Accident Benefit Rider, LIC's New Term Assurance Rider (extra pure life cover), and LIC's Critical Illness Health Rider. Riders add to your protection but do not change the maturity value calculated by this tool, since rider premiums and payouts are tracked separately from the base policy's Sum Assured and bonus.
A common question is whether adding riders is worth it. Accidental Death and Disability cover is usually inexpensive relative to the extra protection it adds, and is worth considering if your income depends heavily on physical ability to work. The New Term Assurance Rider, on the other hand, is rarely the cheapest way to buy extra pure life cover — a standalone term insurance plan usually works out cheaper for the same additional Sum Assured, so it's worth comparing both before adding it to a Jeevan Anand policy.
Is LIC Regulated? Where Jeevan Anand Fits in Your Financial Plan
Yes — LIC and every life insurance product it sells, including Jeevan Anand, is regulated by the Insurance Regulatory and Development Authority of India (IRDAI), which oversees product approval, solvency requirements, and policyholder protection. This is a different regulator from SEBI, which oversees mutual funds and stock markets, and the RBI, which regulates banks and NBFCs — worth knowing since insurance, mutual funds, and bank deposits each answer to a different watchdog.
A common, sensible approach once your Jeevan Anand policy matures — since your life cover already continues afterwards at no cost — is to direct the lump sum toward a diversified investment rather than another insurance-cum-investment product. If you're considering a SEBI-regulated mutual fund route, our SIP Calculator can help you plan out a monthly or step-up SIP with your maturity proceeds or ongoing savings.
How to Check the Exact Maturity Value of Your Existing Policy
1. Log in to LIC's e-Services / Customer Portal using your policy number and registered details to view your policy's exact vested bonus and projected maturity value.
2. Check your latest annual premium receipt or bonus notice, which usually states the bonus rate declared for your policy that year.
3. Visit or call your servicing LIC branch — they can pull your exact policy ledger, including every year's vested bonus.
4. Use this calculator only as a planning estimate — since real bonus rates varied year to year (especially for older Plan 149 policies spanning 2002-2014 onward), your actual maturity value may differ from this illustrative projection.
If your policy document or bonus notice is missing, LIC's branch office can usually reissue a duplicate on request with your policy number and identity proof, and the e-Services portal keeps a running record of every bonus declared against your policy since inception — useful if you're trying to reconcile several years of bonus notices at once.
Common Mistakes When Estimating Jeevan Anand Maturity Value
Assuming a flat bonus rate for the entire policy tenure: Real bonus rates change every year based on LIC's actual investment performance. A flat-rate estimate (like this calculator's default) is a reasonable planning approximation, not an exact figure.
Forgetting the post-maturity cover has value too: Many people compare Jeevan Anand's maturity value alone against a pure investment product's returns, without factoring in the free lifelong life cover that continues afterwards — which has real insurance value even though it isn't a cash payout at maturity.
Not checking whether FAB actually applies: Final Additional Bonus depends on your specific policy duration and the rates LIC has declared for that band — don't assume it automatically applies at the same rate as this calculator's illustrative default.
Ignoring the 80C vs new tax regime trade-off: If you've moved to the new tax regime, the 80C deduction on your Jeevan Anand premium no longer reduces your taxable income — factor this into any real return comparison.
