LIC Jeevan Anand Calculator
What LIC's New Jeevan Anand (plan 715) pays at maturity with your bonus rate, and the yearly return that really is.
In LIC's own New Jeevan Anand example, ₹6,968 a year for 35 years (₹2,43,880 in all) on a ₹2 lakh policy pays ₹4,98,000 at maturity if bonuses run at ₹30 per ₹1,000 a year with a ₹440 final bonus. That is 3.7% a year. The same premiums at PPF's 7.1% would grow to ₹10,54,391. The ₹2 lakh life cover then continues with no more premiums.
The words on this page, explained simply
New to this? Here is what each term means, in plain English.
- Sum assured
- The basic amount your policy promises, printed as Basic Sum Assured on the policy bond. Bonuses are worked out as rupees per ₹1,000 of it.
- Policy term
- The number of years until the policy matures and pays out.
- Simple reversionary bonus
- The bonus LIC adds to a policy each year it is in force, stated per ₹1,000 of sum assured. A rate of ₹40 on a ₹2 lakh policy adds ₹8,000 a year. Once added it is yours, but it is paid only at maturity, on death or, at a lower value, on surrender.
- Final additional bonus
- A one-time bonus LIC may add when a policy matures or a claim is paid, per ₹1,000 of sum assured. It is not guaranteed and is not paid on a paid-up policy.
- Yearly return
- The steady yearly rate that would turn your premiums, each paid at the start of a year, into the maturity amount. It is the fair number to compare with an FD or PPF.
- PPF (Public Provident Fund)
- A government savings scheme. You deposit up to ₹1.5 lakh a year for 15 years at an interest rate the government sets, and both the interest and the final amount are tax-free.
New Jeevan Anand is an LIC endowment plan with a twist: after it matures, the sum assured stays as life cover, with no more premiums. You pay premiums for the whole term, 15 to 35 years. Enter the numbers on your policy bond and your bonus rate to see the maturity amount and the yearly return.
What Jeevan Anand pays
At maturity: sum assured + yearly bonus × policy term + final additional bonus. After maturity the sum assured stays as life cover with no further premiums. The yearly return here counts only the maturity amount, so it leaves out that later cover.
What a different bonus does
| LIC's example: ₹2 lakh, 35 years, ₹6,968 a year | Maturity | Yearly return |
|---|---|---|
| ₹20 per ₹1,000 | ₹4,28,000 | 2.9% |
| ₹30 per ₹1,000 | ₹4,98,000 | 3.7% |
| ₹40 per ₹1,000 | ₹5,68,000 | 4.3% |
To match PPF the policy would need a bonus of about ₹109 per ₹1,000 a year.
Where to find your bonus rate
LIC adds a bonus every year, stated per ₹1,000 of sum assured: a rate of ₹40 on a ₹2 lakh policy adds ₹8,000 a year. LIC announces the rates once a year, and they change. Your bonus so far is on your LIC bonus statement and in the LIC customer portal; your agent or branch can tell you this year's rate for your plan and term.
This page does not fill in a rate for you, because LIC does not publish its yearly rates on its website. The example rates are the ones LIC's own brochures use to illustrate an 8% investment return, not declared rates.
Key takeaways
- Premiums for the whole term, 15 to 35 years.
- Maturity = sum assured + yearly bonuses + final bonus; the sum assured stays as life cover afterwards.
- LIC's own example at its 8% scenario returns 3.7% a year.
Frequently asked questions
How is Jeevan Anand maturity calculated?
Sum assured + the yearly bonus for every year of the term (rate per ₹1,000 × sum assured ÷ 1,000) + any final additional bonus.
What happens after Jeevan Anand matures?
The sum assured stays as life cover with no more premiums.
What return does LIC Jeevan Anand give?
In LIC's own brochure example at an 8% investment return, 3.7% a year on the maturity amount. Your return depends on the bonus LIC declares.
Does this work for the older Jeevan Anand (915)?
For the maturity amount, yes: it works the same way. Its surrender tables differ, so the surrender calculator covers only plan 715.