With LIC's Jeevan Anand (Plan 915) policy, you can get up to ₹25 lakh by just saving ₹1400 a month. We break down all the details—maturity benefits, lifetime cover, bonus, tax breaks, and loan facility—in simple terms.
Today, every common person has two big needs: keeping their money safe and getting good returns in the future. Amidst the stock market, mutual funds, and other schemes, crores of people still trust one name: Life Insurance Corporation of India. If you also want to invest your earnings in a safe place, LIC's 'Jeevan Anand' (Plan No. 915) policy is an option that gives you the benefits of both insurance and savings together.
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₹1400 a month, and a ₹25 lakh fund
Often, people don't buy insurance plans because they think the premium will be too high. But the special thing about this plan is that it fits the common person's budget. For example, let's say a 35-year-old person takes this policy for a 35-year term with a sum assured of ₹5 lakh. The annual premium would be around ₹16,300, which is roughly ₹1400 a month, or about ₹45-46 per day. In 35 years, they will deposit a total of about ₹5.70 lakh. Based on current bonus rates, they can get around ₹25 lakh on maturity. This includes: ₹5 lakh Basic Sum Assured, approximately ₹8.60 lakh Vested Simple Reversionary Bonus, and around ₹11.50 lakh Final Additional Bonus. Do note, bonus rates can change over time, and this calculation is an estimate based on current trends.
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The cover doesn't end even after maturity
The best feature of this plan is its 'Whole Life Coverage'. Usually, most policies end after maturity. But in Jeevan Anand, even after receiving the ₹25 lakh, the risk cover of ₹5 lakh continues for life. This means if the policyholder passes away at any time in the future, the nominee will receive an additional ₹5 lakh. This facility makes it stand out from other plans.
The premium you pay in this plan is eligible for a deduction under Section 80C of the Income Tax Act. At the same time, the maturity amount and death benefit are tax-free under Section 10(10D), provided the rules are followed.
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Loan facility when you need it
If you suddenly need money, you can take a loan on this policy after two full years. If you are late in paying the premium, you get a grace period of 15 days for the monthly mode and 30 days for other modes. Anyone between 18 and 50 years of age can choose a term from 15 to 35 years. You can also add riders like Accidental Death and Critical Illness benefits if you wish.
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Is this right for you?
If you want a safe investment that also provides insurance cover and good returns, this plan can be a balanced choice. However, you should always make a decision after considering your income, expenses, and long-term goals. It's best to get complete information from an authorized LIC agent or a financial advisor before buying the policy. With proper planning, small savings can become a big support for the future.
