Calculate the premium and maturity benefit for LIC New Jeevan Anand (UIN: 512N279V03). This is the only LIC endowment plan that keeps your family covered after you collect the maturity payout. Enter your age, term, and sum assured to see everything.
Every endowment plan pays out at maturity and ends. Jeevan Anand does not end. After you collect the full maturity payout, the Basic Sum Assured stays in place as lifelong cover for your family. No extra premiums. No reapplication. It is built into the plan. From 22 September 2025, premiums are fully GST-exempt.
| Year | Cumulative Premium | Cumulative Bonus | Death Benefit (during term) | Maturity Value | Death Benefit (after term) |
|---|
Most LIC endowment plans are straightforward: pay premiums, collect at maturity, policy ends. Jeevan Anand breaks from that pattern in one specific way. After the maturity date, the policy does not end. The Basic Sum Assured remains as a lifelong death benefit for your family, with no further premium due. Collect your money at 55 and pass away at 80, your nominee still receives the BSA. From 22 September 2025, premiums are fully exempt from GST across all payment modes.
The defining feature of this plan. After you collect your maturity payout, the BSA stays in place as a death benefit. Your nominee receives it whenever you pass away, whether that is 5 years or 30 years after maturity.
At the end of the policy term, you receive the Basic Sum Assured plus all accumulated SRBs and the Final Additional Bonus. You take the money and use it for your goals while the cover continues separately.
LIC declares a Simple Reversionary Bonus per Rs.1,000 BSA each year. Once declared, each year's bonus is locked in permanently. The Final Additional Bonus is paid when a claim occurs, either at maturity or on death during the term.
Annual payments earn a 2% rebate and give the lowest total cost. Half-yearly earns 1%. Quarterly and monthly NACH carry no rebate. Monthly payments require a bank mandate.
BSA from Rs.5 lakh to Rs.10 lakh earns Rs.2.50 per Rs.1,000 BSA. Above Rs.10 lakh the rebate rises to Rs.4 per Rs.1,000. Below Rs.5 lakh there is no rebate.
All individual life insurance premiums are GST-exempt from 22 September 2025. You pay only the base net premium. The full amount qualifies for Section 80C deduction.
Accidental Death and Disability Benefit Rider, Accident Benefit Rider, and New Term Assurance Rider. The New Term Assurance Rider must be attached at policy inception. Combined rider premiums cannot exceed 30% of the base premium.
After two full years of premium payments, borrow up to 75% of the surrender value. Paid-up policies are limited to 65%. The interest rate for 2024-25 is 9.5% per annum compounding half-yearly.
Death during the policy term triggers the Sum Assured on Death, which is whichever is higher: 125% of the Basic Sum Assured or 7 times the annualised premium. All accumulated SRBs and the Final Additional Bonus are added. A floor applies: the total death payout will not be less than 105% of all premiums paid to date. Compared to the New Endowment Plan, which uses only 100% BSA as the floor, Jeevan Anand's 125% floor gives better protection in the early years when bonuses have not yet accumulated significantly.
This 125% floor is specific to Jeevan Anand and does not appear in the New Endowment Plan. For a Rs.5 lakh BSA, the minimum death benefit during the term is Rs.6.25 lakh before any bonuses are added.
Survive to the maturity date with all premiums paid and the payout is BSA plus all accumulated SRBs plus the Final Additional Bonus. This part works identically to a standard endowment plan. The difference begins after this point.
After maturity, the BSA remains as a death benefit with no additional premium due, ever. The policyholder has already collected the full maturity amount. The lifelong cover is on top of that, not instead of it. A 30-year-old who buys a 35-year policy collects the maturity amount at 65. If they pass away at 82, their family receives the BSA. The plan funded both outcomes from a single premium stream that ended at 65.
| Feature | New Jeevan Anand | New Endowment Plan |
|---|---|---|
| Minimum Entry Age | 18 years | 8 years |
| Minimum Policy Term | 15 years | 12 years |
| Sum Assured on Death (during term) | Higher of 125% BSA or 7× premium | Higher of BSA or 7× premium |
| Life Cover after Maturity | ✓ Yes: BSA paid on death anytime | ✗ No: cover ends at maturity |
| HSA Rebate starts from | ₹5,00,000 | ₹5,00,000 |
| Premium (approx.) | Slightly higher (lifelong cover) | Lower (cover ends at maturity) |
| Age | 15-Year Term | 25-Year Term | 35-Year Term |
|---|---|---|---|
| 20 years | ₹16,229 | ₹9,339 | ₹6,517 |
| 30 years | ₹16,885 | ₹9,810 | ₹6,968 |
| 40 years | ₹18,012 | ₹10,711 | ₹7,918 |
| 50 years | ₹19,914 | ₹12,397 | N/A |
Source: LIC official brochure (2024). Premiums exclude rider premiums. No GST applicable from Sept 2025. Age 50 + term 35 = 85 years exceeds maximum maturity age of 75.
From 22 September 2025, all individual life insurance premiums are GST-exempt. The 4.5% first-year and 2.25% ongoing structure that applied before September 2025 is now gone. The amount shown in this calculator is what you pay with nothing added. The full amount also qualifies for Section 80C deduction.
Surrender is allowed after 1 year. The Guaranteed Surrender Value becomes payable after 2 full years of premiums. The actual surrender amount is whichever is higher: the GSV or the Special Surrender Value. Rider premiums do not contribute to the surrender value.
A loan against the surrender value is available after 1 year. The maximum for in-force policies is 75% of surrender value after 2 full years of premiums. Paid-up policies are limited to 65%. Interest runs at 9.5% per annum compounding half-yearly for 2024-25. The policy stays in force during the loan period and outstanding loan with interest is recovered from the claim amount at exit.
A lapsed policy stays eligible for revival for up to 5 years from the first unpaid premium date. Pay all outstanding arrears with 9.5% per annum interest compounding half-yearly for 2024-25, plus submit evidence of continued good health. LIC sometimes requires a medical examination for long lapse periods or high sum assureds.
Jeevan Anand is LIC's endowment plan that does not end at maturity. At the end of the policy term you receive the BSA plus all accumulated bonuses. After that, the BSA stays in place as a lifelong death benefit at no extra premium. A policyholder who collects their maturity amount at 65 and dies at 82 still leaves the BSA to their family. No other LIC endowment plan works this way.
Yes, and the cover costs nothing additional. After collecting the full maturity benefit, the Basic Sum Assured remains active as a death benefit for the rest of the policyholder's life. No premium is charged for this continued protection. It is not a separate plan or rider. It is a built-in feature written into Jeevan Anand's policy contract.
During the term, the nominee receives the Sum Assured on Death, which is whichever is higher: 125% of BSA or 7 times the annualised premium, plus all vested SRBs and FAB, with a floor of 105% of all premiums paid. After maturity, the death benefit simplifies to the Basic Sum Assured only, with no bonus component. The amount is lower after maturity, but there is no premium to pay for it.
The 125% BSA floor is specific to Jeevan Anand. The New Endowment Plan uses only 100% BSA or 7 times the annualised premium as the minimum. On a Rs.5 lakh BSA, the Jeevan Anand floor means the minimum death benefit during the term is Rs.6.25 lakh before any bonuses. That 25% extra matters most in the early years of the policy when bonuses have not yet accumulated to meaningful levels.
No GST from 22 September 2025. The 56th GST Council exempted all individual life insurance premiums. The earlier 4.5% first-year and 2.25% ongoing structure is gone. You pay only the base net premium. The full amount qualifies for the Section 80C deduction with nothing to subtract.
Minimum entry age is 18 years and maximum is 50 years at nearer birthday. Maximum maturity age is 75 years. A 50-year-old gets a maximum 25-year policy. A 40-year-old gets up to 35 years. The calculator enforces these limits automatically based on the age you enter.
BSA from Rs.5 lakh to Rs.9.99 lakh earns a rebate of Rs.2.50 per Rs.1,000 BSA. BSA of Rs.10 lakh and above earns Rs.4 per Rs.1,000. No rebate applies for BSA below Rs.5 lakh. On a Rs.20 lakh BSA, the rebate is Rs.80 per year on the base premium. The calculator applies this automatically.
SRB is LIC's annual bonus declared as a fixed rupee amount per Rs.1,000 BSA. Once declared for a policy year, it is locked in permanently and guaranteed. FAB is a one-time bonus paid when the policy results in a claim at maturity or death during the term. It is not payable on paid-up policies. This calculator uses Rs.46 SRB and Rs.710 FAB for the conservative scenario, and Rs.58 SRB and Rs.1,330 FAB for optimistic.
The key decision point is what you need after maturity. If you want your family covered even after you have collected the maturity payout, choose Jeevan Anand. The premium is slightly higher because of the lifelong cover. If you primarily want savings with cover only during the policy term, choose the New Endowment Plan. The premiums are lower and the minimum entry age is 8 versus 18 for Jeevan Anand.
After two full years of premium payments, borrow up to 75% of the current surrender value. Paid-up policies are limited to 65% of paid-up surrender value. Interest is 9.5% per annum compounding half-yearly for 2024-25. The policy stays active during the loan period. At exit, the outstanding loan plus accumulated interest is recovered from the claim amount.
Premiums qualify for Section 80C deduction up to Rs.1.5 lakh per year. The full premium qualifies from September 2025 because GST is now zero. Maturity proceeds are tax-free under Section 10(10D) if the annual premium does not exceed 10% of the BSA. If the premium crosses that threshold, the maturity amount becomes taxable. Plan your BSA to stay within the 10% rule.
Stop paying before completing one full year and the policy lapses with no benefits after the grace period. Complete at least one year and the policy converts to paid-up with reduced but real benefits, including a reduced lifelong cover. Revival within 5 years requires paying all arrears with 9.5% compound interest. The lifelong cover on a paid-up policy continues at a reduced BSA proportional to premiums paid.
The policyholder elects for the death benefit to be paid to the nominee in monthly, quarterly, half-yearly, or yearly instalments over 5, 10, or 15 years instead of a lump sum. The maturity benefit also has a Settlement Option where the policyholder receives it in instalments with 3 months advance notice. Minimum instalment amounts are Rs.5,000 per month, Rs.15,000 per quarter, Rs.25,000 per half-year, and Rs.50,000 per year.
This calculator uses LIC's officially published 2024 brochure premium tables, actual mode rebates, and high SA rebates. The 125% BSA death benefit floor is correctly applied in all death benefit calculations. GST is shown as Rs.0, which is correct from 22 September 2025. Bonus projections are illustrative per IRDAI guidelines. Actual premiums at policy issue sometimes differ slightly due to age rounding at the nearer birthday. Verify with a licensed LIC agent for a precise quote.
