LIC Jeevan Anand 149 – Features, Benefits and Maturity Calculator

LIC Jeevan Anand 149 – Features, Benefits and Maturity Calculator. Jeevan Anand (Plan 149) is by far one of the most popular insurance plan from the one and only public sector insurer – Life Insurance Corporation of India. This plan has already been withdrawn from sales and is not available for new sales. LIC has introduced another similar plan as the successor of Jeevan Anand (149) plan with the name New Jeevan Anand and bears the plan number 815.

Key Features of LIC Jeevan Anand – Plan 149
  • Plan is a combination of an Endowment Assurance plan and a Whole Life plan.
  • Maturity benefit includes Sum Assured + Accrued (Simple reversionary) Bonus + Final addition bonus (If any) and shall be available after the completion of the term.
  • Death coverage during the term of the policy shall include Sum assured + Accrued bonus
  • Insurance Coverage equal to the Sum Assured shall continue even after the maturity and shall be available for life time or 100 years of age which ever is earlier.
  • Double accident benefit and extended permanent disability is available as an inbuilt benefit under this plan and shall be available during the term of the plan and also till age up to 70 years. Maximum DAB & EPDB cover will be Rs. 5 lakhs.
  • Critical Illness Rider provides coverage for specified critical illnesses and shall be available as an optional rider.
LIC Jeevan Anand 149 – Conditions and restrictions
Condition Minimum Maximum
Age at entry 18 years 65 Years
Premium Paying Term 5 Years 57 Years
Sum Assured 1,00,000 No Limit
Sum Assured Rebate
Sum Assured Rebate
Up to 2.95 lakh Nil
3 lakh to 4.95 lakh Rs. 1 per 1000 Sum assured
5 lakh to 9.95 lakh Rs. 1.50 per 1000 Sum assured
10 lakh and above Rs. 1.75 per 1000 Sum assured
Mode Rebate
Yearly mode 3% of tabular premium
Half-yearly mode 1.5% of tabular premium
Quarterly, Monthly and SSS NIL
Premium and Benefit Calculator – LIC Jeevan Anand 149

Premium, Benefit and Maturity calculator for LIC Jeevan Anand (Plan 149) is an online calculator to understand all the benefits of the plan in an easy manner.This calculator can provide you all details on what you are paying, pattern of insurance coverage, maturity benefits etc. You can supply your own details such as Age, Sum Assured, Term etc and get complete details of the plan in a table format.

lic jevvan anand 149

LIC Jeevan Anand 149 – Example of Benefits.

In order to understand the benefits of Jeevan Anand Plan let us consider an example. Let us assume that a 30 year old person is taking a 10,00,000 policy with term 25 years. The benefits as per the current bonus rates shall be as given below.

LIC Jeevan Anand 149 illustration of Example of benefits

Yearly premium required is Rs.41,206 and the premium has to be paid for 25 years. Total premium paid is Rs. 10,30,150. The maturity benefit* of the plan as per the current bonus rate is Rs. 26,35,000. Additional whole life coverage of Rs.10,00,000 also shall be available.

So the total benefit payable form LIC shall be to the tune of Rs.36,35,000, including the whole life coverage.

The benefits shown above are as per the parameters mentioned above. If you want to get the benefit illustration based on your own details, please use the online calculator.

Disclaimer* The illustrations shown above are as per the current bonus rates of the plan. The amount shown is not guaranteed and the actual returns shown can vary based on the actual experiences of the corporation.

Read more:

LIC’s New Jeevan Anand (Plan 815) all details, benefits and calculators.

Anish L J
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Anish L J

Anish L J is a 'Financial Planner' and member of Chartered Insurance Institute(CII), London. He is also a finance, insurance and software consultant with more than 20 years of experience in these fields. He thoroughly follows developments in insurance and finance. 'INSURANCE FUNDA' (www.insurancefunda.in) is his endeavor to provide simple and solid solutions in the Insurance and Finance sectors.
Anish L J
Follow me

Anish L J

Anish L J is a 'Financial Planner' and member of Chartered Insurance Institute(CII), London. He is also a finance, insurance and software consultant with more than 20 years of experience in these fields. He thoroughly follows developments in insurance and finance. 'INSURANCE FUNDA' (www.insurancefunda.in) is his endeavor to provide simple and solid solutions in the Insurance and Finance sectors.

125 thoughts on “LIC Jeevan Anand 149 – Features, Benefits and Maturity Calculator

  • April 24, 2018 at 5:12 pm
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    Can i change the nominee?

    Reply
    • May 1, 2018 at 6:53 am
      Permalink

      Sure You can change your nominee any time. Please approach your nearest branch office to do nomination change.

      Reply
      • October 31, 2018 at 5:23 am
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        Hi Anish, Sorry that I’am posting my query on one of your replies. I could not find the other way to do it. I have a Jeevan Anand – 149 policy. Bought in 2013 Jan. I have paid premium for 6 yrs totally. I want to surrender this policy now as i do not wish to continue with it. What will be the returns i will get on surrendering it. SA is 700000 & yearly premium is 35895. Table & Prem paying term as mentioned on policy is 149 / 71 / 21. I’m unable to get clarity from the agent who sold me this policy. Please advise.

        Reply
        • October 31, 2018 at 2:38 pm
          Permalink

          Premium paying term is 21 years and you have an insurance coverage up to age 100 which is 71 Years from date of commencement. That is what mentioned.

          Reply
  • May 4, 2018 at 6:49 am
    Permalink

    Shall i get money after my premium paying term

    Reply
    • May 6, 2018 at 2:28 pm
      Permalink

      You will get Maturity Benefit after the premium paying term. Maturity amount includes Sum Assured + Bonus + Final Additional Bonus. Life long cover continues even after premium paying term.

      Reply
  • May 25, 2018 at 8:30 am
    Permalink

    here the maturity date mentioned is 2072, but paying term is 12 years. So, when i will get the benefits or final settlement. Insurer is healthy.

    Jeevan Anand plan 149

    Age
    40 Yrs
    Policy Benefits
    ₹ 1,00,000
    Premium Paying Term
    12 Yrs
    Policy Term
    60 Yrs
    Commencement Date
    05/01/2012
    Date of Maturity
    05/01/2072

    Reply
    • May 26, 2018 at 5:57 am
      Permalink

      In Jeevan Anand Plan, Maturity amount which includes Sum Assured, Accrued bonus and final additional bonus(if any) shall be available after premium paying term. Life long coverage continues till 100 years of age. That is the reason why maturity is given as 2072.

      Reply
      • August 14, 2018 at 9:17 am
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        Hi Mr Anish LJ I have a doubt can I surrender after maturity premium paying term . if 5 lakh is my Sum assured amount normally am getting arount 690000 that’s nice the rest amount till 100 age ..can I surrender for this coverage and what is amount am getting for this surrender. pl reply

        Reply
        • August 15, 2018 at 10:31 am
          Permalink

          Dear Firoz,
          You can surrender the insurance coverage available after the maturity in Jeevan Anand plan. Please refer to this chart.Surrender value chart of Jeevan Anand

          Reply
          • September 28, 2018 at 10:49 am
            Permalink

            Hello Anishji
            Good Afternoon
            Surrender Value chart of jeevan Anand Which you have attached is not opening
            You can email me on mrchavan706@gmail.com
            Mayur Chavan Mumbai

          • October 1, 2018 at 6:41 am
            Permalink

            you can download it from here.

          • November 17, 2018 at 11:15 am
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            thank you

            regards

  • June 1, 2018 at 6:03 am
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    Hello – I have Jeevan Anand 149 Policy. There is an endorsement that states “Double Accident benefit and extended disability benefit under this policy is restricted to Rs. NIL only. What does this mean?

    Reply
    • June 12, 2018 at 2:46 pm
      Permalink

      Double accident benefit and extended permanent disability is available as an inbuilt benefit under this plan and shall be available during the term of the plan and also till age up to 70 years. Maximum DAB & EPDB cover will be Rs. 5 lakhs. So no such endorsement is possible in this plan. Please clarify with your nearest LIC branch office.

      Reply
      • June 13, 2018 at 3:55 pm
        Permalink

        i could have worded incorrectly. It is not an endorsement. Those words that i had mentioned was stamped and the word “NIL” has been hand-written. This is my SECOND jeevan anand policy. The branch office said that for Jeevan Anand the maximum DAB is 5 lakhs only. But that is not mentioned in the schedule…i mean there is no statement mentioning like irrespective of the number of Jeevan Anand Policies taken, the max DAB is 5 lakhs. Any thoughts here?

        Reply
        • June 19, 2018 at 2:58 pm
          Permalink

          Yes, what you said is right. Maximum DAB allowed under Jeevan Anand policy is 5 Lakh and if you have already covered that 5 lakh in your first policy itself, then no DAB shall be available in your second policy. That is the reason why DAB is given as NIL in your second policy.

          Reply
          • June 20, 2018 at 5:37 am
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            But, no where in the schedule i see a statement like “irrespective of the number of Jeevan Anand Policies taken, the max DAB is 5 lakhs”. Is this been mentioned somewhere, that i am overlooking?

  • June 5, 2018 at 3:21 am
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    I asked the agent for 50Lakhs sum assured policy. He gave it to me in 26 differnet policies with different paying terms for each. He also told that I don’t have to pay any premiums after 17 years even though the payment terms in all but one policy is more than that. I don’t understand why that was done so. Any advice?

    Reply
    • June 12, 2018 at 2:35 pm
      Permalink

      I think the agent has given a series of policies maturing every year from the 17 th year. There are some advantages as well as disadvantages while splitting policies in this manner. One advantage is that as each policy mature every year it will work as a pension plan and there will not be any tax burden on the pension received in this manner as the maturity amount of the policy is tax exempted under section 10(10D). On the other hand if you take a regular pension plan, the pension received will be taxable and will be added to your income. You may loose higher Sum Assured rebate if each of the policies are splitted into small policies. You will have to pay premium for entire period but the agent may be presuming that the premium can be paid from the maturity amount paid every year.
      Agent should have communicated clearly about the implications of giving multiple policies.

      Reply
  • June 8, 2018 at 5:42 am
    Permalink

    Age
    27 Yrs
    Policy Benefits
    ₹ 5,00,000
    Premium Paying Term
    16 Yrs
    Policy Term
    73 Yrs
    Commencement Date
    03/03/2011
    Date of Maturity
    03/03/2084

    Sir, Please tell me, when i will get the maturity money?

    Reply
    • June 12, 2018 at 2:22 pm
      Permalink

      Maturity Benefit of the policy will be available on 2027 (After the premium paying term)

      Reply
    • October 15, 2018 at 7:37 am
      Permalink

      Age
      29 Yrs
      Policy Benefits
      ₹ 2,00,000
      Premium Paying Term
      21 Yrs
      Policy Term
      71 Yrs
      Commencement Date
      28/10/2013
      Date of Maturity
      28/10/2084

      Sir, Please tell me, when i will get the maturity money and how much?

      Reply
      • October 16, 2018 at 2:16 pm
        Permalink

        Maturity amount shall be available on completion of 21 Years (on 2034). Please use this calculator to get the expected maturity amount.

        Reply
  • June 13, 2018 at 11:12 am
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    Dear sir, what is the procedure for availing accident benefits under this plan in case of hospitalization ?

    Reply
    • June 19, 2018 at 3:14 pm
      Permalink

      Accident coverage available under the plan is for accidental death and permanent disability (which is irreversible) only. No hospitalisation benefit shall be available under accident benefit.

      Reply
  • June 20, 2018 at 7:38 am
    Permalink

    is it possible to change the premium paying term and what is the process?.

    Reply
    • June 25, 2018 at 5:09 am
      Permalink

      You can change the term subject to certain conditions. You can reduce the term of the policy but cannot increase it. As all policies do not allow term change please give the plan details for further information.

      Reply
  • June 29, 2018 at 12:17 pm
    Permalink

    Want to buy 5 years policy.Age is 46.Please give me best policies.

    Best Regards

    Rajesh

    Reply
    • July 1, 2018 at 1:38 pm
      Permalink

      LIC do not have any 5 Year policy.

      Reply
  • July 1, 2018 at 7:49 pm
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    I am paying a yearly premium of 49,872 and the number of terms is 21 and Sum Assured is 10,00,000. Using the premium calculator, the maturity benefit showed a value of 21,29,000 (SA 10,00,000 Bonus 1029000 & FAB 1,00,000).
    So does this mean I will be receiving an amount of 21,29,000 after completion of the 21 terms with additional life long coverage of 10,00,000?

    Reply
    • July 8, 2018 at 7:15 am
      Permalink

      Exactly. This is the indicative maturity amount as per the current bonus rates and you will have a life long coverage of 10 lakh.

      Reply
  • July 10, 2018 at 8:25 am
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    Dear Sir, I hope you are doing well. I would like to have a clarification in my policy. Kindly find the below details of my policy and let me know, when i will get the maturity money and how much amount will i get ? What other benifits will i get. Thanks

    Age – 31

    Sum Assured – 1000000

    Premium Paying Term – 11 Years

    Policy Term – 69 Years

    Date of Maturity – 07/07/2081

    Instalment Premium – 54304 (Per Year – 108608)

    Premium Mode – Half-Yearly (January & July)

    Commencement Date – 07/07/2012

    Date of Last Payment – 07/01/2023

    Reply
    • July 14, 2018 at 8:53 am
      Permalink

      The maturity date of your policy is 07/07/2023 and you will get 10 lakh + accrued bonus at that time. Please use calculator provided to get indicative amount.

      Reply
  • July 11, 2018 at 6:33 am
    Permalink

    what amount is recoverable after premium payment term in jeevan anand plan -149?
    whether the amount recoverable is maturity amount or less?
    and when this amount could be recovered?

    Reply
    • July 14, 2018 at 8:50 am
      Permalink

      After premium payment term, Jeevan Anand matures and Sum Assured + bonus + final addition bonus shall become payable. Life long coverage equal to Sum Assured shall be available there after.

      Reply
  • July 17, 2018 at 8:36 am
    Permalink

    Hello Sir, Thank for the clear information about the maturity and still my confusion remain about the final settlement, try to get the information form many of LIC officers and they have no clear information.
    As you clearly illustrate that Return amount from LIC will be 36,35,000 /-, please clarify that physically i will get 36.35 Lack or 25.35 Lack only. because 10 Lack is belongs to life time insurance coverage of 10 lack, if i wish to cancel that coverage, should i eligible to get the 36.35 Lack ?

    Regards,
    SANDESH

    Reply
    • July 17, 2018 at 9:22 am
      Permalink

      Referring to above my question, i have been informed from agent that i shall get almost 50 lacks during my maturity period ( My policy is 20 Lacks for 16 year, as per your calculation ill eligible to get around 34.5 lack+ 20 lack life time coverage.

      Reply
      • July 18, 2018 at 3:45 pm
        Permalink

        This is the calculation based on current bonus rates. Maturity benefit includes 20 lakh sum assured + Accrued bonus + FAB ( approx 34.5 lakh) and life long coverage of 20 lakh. So total benefit is likely to the tune of 54.5 lakhs.

        Reply
  • July 19, 2018 at 1:41 pm
    Permalink

    Hi, I have a Jeevan Anand(Plan-149) of sum assured 3 lakhs which will mature in 2034. Expected amount I will get on maturity? as well what does it means as a life coverage, I mean post maturity I believe I won’t get any more amount in future? or is it post maturity only death benefit will be there which will be same as sum assured and which will be given to my nominee.

    Reply
    • July 22, 2018 at 3:19 am
      Permalink

      Dear Sourav,
      Please use the calculator provided in the post to get the indicative maturity amount.
      At the time of maturity you shall receive Sum Assured + Bonus + Final Additional Bonus as a one time payment. Life long coverage means your nominee is entitled to receive on more sum assured as death benefit even after maturity. Only death benefit is payable after maturity.

      Reply
      • July 23, 2018 at 11:13 am
        Permalink

        Thanks a lot. Its clear to me and the calculator is helpful too. Is there any such plans available in todays date. Also could you please suggest any good policy for children of age 9 years?

        Reply
  • July 20, 2018 at 1:56 pm
    Permalink

    Hi Mr.Anish, My LIC plan 149; maturity amount 1200000Rs; term 21 years; 5 years completed as of now. Its showing 297000 as vested bonus. I have below questions:-

    1. Vested bonus + sum assured only we get after maturity or some other bonus?

    2. After maturity policy will cover life time right? – Means for normal death sum assured will pay again??

    3. What will be minimum and maximum possible amount at my plan maturity for 12lakh sum assured policy?

    Reply
    • July 22, 2018 at 3:15 am
      Permalink

      Hi Suresh,
      1. You will receive the SA + Bouns + FAB fully at the time of maturity only.
      2. Sum Assured is paid at the time of death even after maturity.
      3. In Jeevan Anand (Plan 149), the maturity amount is the sum total of Sum Assured + Accrued Bonus + Final additional Bonus(if any). Use the calculator provided to get the indicative maturity amount. You can see from the calculator that the bonus amount as per current rates is 1234800 for 12 lakh sum Assured and the final additional bonus amount is 120000. So the indicative maturity amount is Rs. 25,54,800

      Reply
  • July 20, 2018 at 1:59 pm
    Permalink

    Hi Mr.Anish, My LIC plan 149; maturity amount 1200000Rs; term 21 years;

    In case i want surrender the policy; how much i can get back?

    Note: I have paid premium for 5 years – 3lakh so far.

    Reply
    • July 22, 2018 at 3:02 am
      Permalink

      Get the surrender value quotation from your nearest LIC branch office. Surrendering a policy in between is not a good decision as you loose your valuable insurance coverage taken at the rate provided at a lower age. Further, You will not receive the accrued bonus in full also. My recommendation is not to surrender a policy without sufficient reasons to justify it.

      Reply
  • July 21, 2018 at 7:16 am
    Permalink

    Gd morning sir.
    I have jivan anand 149 plan of 10 lacs from jun 2011 and i paid premium around 3.20 lac and now i want to surrender this policy. Approx how much surrender value i will get and someone told me that accumulated bonus not given during surrender time.

    Reply
    • July 22, 2018 at 2:53 am
      Permalink

      Hi Ganga Ram,
      You are right. The accumulated bonus is payable to you only at the time of maturity. If you Surrender your policy in between you will receive only a percentage of the accrued surrender value. And the percentage is called surrender value factor which generally varies between 30 to 100 % depending on the period elapsed. You can get a detailed surrender value quotation from your nearest LIC branch office.

      Reply
  • July 22, 2018 at 8:49 am
    Permalink

    Hi Anish,
    My self Yogesh , I have Jeevan Anand 149. plan for 16 years & yearly payments is 70327 & last payment is till july-2025.

    total i will pay 1125232/- Rs. till July -2025

    Please tel me below quaiers

    1) After paid this how much i will get ?
    2) When i will get this ?
    3) How can i get .. ?
    4) Any other benift ?

    Please clear us

    yogesh

    Reply
    • July 24, 2018 at 3:22 pm
      Permalink

      Hi Yogesh,
      I assume that the sum assured of your plan is Rs. 10,00,000 based on the premium mentioned by you. So The maturity returns on the 16 th year will include Sum Assured of 10 Lakh and the bonus for 16 years and Final addition bonus. You can use the calculator provided to get the indicative figures. As per the calculator the indicative return is Rs.17,45,000 based on current bonus rates. You will be eligible for a life long insurance coverage equal to sum assured (10,00,000) So the total amount payable from LIC shall be to the tune of 27,45,000 as per current bonus rates.
      The maturity benefit shall be paid to your account on the maturity date.

      Reply
  • July 25, 2018 at 12:26 pm
    Permalink

    thank you very much

    Reply
  • August 3, 2018 at 5:50 am
    Permalink

    HI sir,
    I have taken 15 policies of Jeeven Anand plan149 on 28/10/2012.
    Each one sum assured of 1,00,000/-Per policy.
    Policy Term : 21 years,
    Premium mode of payment : half Yearly 28,089.00/
    Till now i have paid nearly 5.5 years. approx (3,08,7900)/-.
    Upto my knowledge i gave to pay total of (11,79,738.00) / 21 years for all 15 policies.

    Im not yet all clear about this plan. can u help whar are the benfits and plus points to me.

    I dont know anything about ” In force ” after Maturity period**

    Reply
    • August 5, 2018 at 2:46 pm
      Permalink

      Hi,
      I don’t understand why you took 15 one lakh policies and all of them with a 21-year term. Please check the term of your policies once again and let me know…

      Reply
  • August 6, 2018 at 5:45 am
    Permalink

    HI, Anish ji,
    Dear Sir, I hope you are doing well. I would like to have a clarification in my policy. Kindly find the below details of my policy and let me know, when i will get the maturity money and how much amount will i get ? What other benifits will i get. Thanks

    Policy Name : Jeevan Anand

    Installment Premium (Rs.)/Premiume Amount : 12713

    Date of Commencement : 28/2/2012

    Mode of Payment : HLY

    Plan & terms : 149/76/21

    Sum Assured Rs. : 5,00,000

    Reply
    • August 7, 2018 at 3:55 am
      Permalink

      The maturity amount shall be received on 21 st year. (on 28/1/2033). ’76’ shown in plan and term indicates that insurance coverage is available till 100 years of age.

      Reply
  • August 10, 2018 at 6:52 am
    Permalink

    I will get 10 lac as maturity amount on 2033 without any issue right? And life cover and accident cover still be there right?

    Reply
    • August 11, 2018 at 1:26 pm
      Permalink

      Yes, that is right as per the details you supplied…

      Reply
  • August 13, 2018 at 7:41 am
    Permalink

    Hi Sir Good day I am working IT Professional I have Planned to Buy LIC Pension Policy. LIC Agent told me that there is one best policy for IT professional where I need to pay the premium till 15 years after which I will get the amount as pension i,e either monthly,quaterly, half year, yearly basis. My age is 30 years he told not an issue for that. is there any such kind of LIC policy? if there can you name it

    Reply
  • August 27, 2018 at 11:49 am
    Permalink

    Age
    27 Yrs
    Policy Benefits
    ₹ 6,00,000
    Premium Paying Term
    20 Yrs
    Policy Term
    73 Yrs
    Commencement Date
    28/10/2012
    Date of Maturity
    28/10/2085

    Please let me know the below information:

    1. When i will get the maturity money?
    2. Why the Maturity Date shows as 28/10/2085?
    3. How much will be the Maturity amount?
    4. Till which i should be paying the premium?

    Reply
    • August 27, 2018 at 12:30 pm
      Permalink

      Hi Neha,
      1) You will get the maturity amount after 20 Years. ie on 28/10/2032.
      2) The date shows as 28/10/2085 because the plan provide free insurance coverage up to age 100
      3) Use this calculator to get the expected maturity value
      4) You need to pay premium only up to 20 years.

      Reply
  • August 28, 2018 at 7:34 am
    Permalink

    Thank you very much Anish.
    I have one more question please:

    What is policy term and why it is 73 yrs?
    Is this a good policy to invest?

    Thanks,
    Neha

    Reply
    • October 17, 2018 at 8:07 pm
      Permalink

      Hi Neha, I think that’s 100-27(your age) which is 73 yrs..as Anish said you have insurance coverage up to 100 yrs.
      Hope this helps.

      Reply
      • October 18, 2018 at 4:58 am
        Permalink

        Exactly.

        Reply
  • August 28, 2018 at 7:37 am
    Permalink

    Just to update my LIC policy is Jeevan Anand 149

    Reply
  • August 29, 2018 at 5:47 am
    Permalink

    Hi Anish,
    Myself Anil. i have Jeevan Anand 149/75 plan for 21 years with sum assured amount is 500000/- and i have pay halfyear 12787. DOP 26/11/2013. please tell me about this-
    1. After paid this how much i will get?
    2. When i will get this?
    3. Any other benifit?
    4. How much amount at maturity time?

    Reply
    • August 29, 2018 at 2:24 pm
      Permalink

      Hi Anil,
      Please use this calculator to get expected maturity value. Amount received on completion of 21 years from date of commencement. Life long insurance coverage equal to 5 lakh available even after maturity.

      Reply
  • August 29, 2018 at 9:20 am
    Permalink

    Hi.

    I have taken a LIC Jeevan anand policy (149 78 05) in 2011.

    Age
    22 Yrs
    Monthly premiem:
    5096
    sum assured
    ₹ 250000
    Premium Paying Term
    5 Yrs
    Policy Term
    73 Yrs
    Commencement Date
    27/05/2011
    Date of Maturity
    04/2016

    I have recieved 2.96 Lakhs on maturity. But I have got a notice from income tax saying I have to pay 88thousand income tax for this. Can you please explain me should I pay tax for this, if so should I pay 30 % tax for the whole amout or just for my profit? In this case I have more than 3Lakhs and got an amout less than that only. On this why should i pay 30% tax. This is worrying me. Can you please help me out with this.

    Reply
    • August 29, 2018 at 2:59 pm
      Permalink

      Hi Aravindh,
      Section 10(10D) benefit (Exemption of maturity benefit of Insurance policies from income tax) will not be applicable for the 5-year term, as the premium paid per year will be higher than 20% of Sum Assured in this case. But you will have to pay tax only on the appreciation. ie (Maturity – total Premium) If you are already in the 30% slab you will have to pay 30% of appreciation. If not, you will have to pay tax depending on your tax slab. any more clarifications? You can get more information on tax rules applicable to insurance policies from this article.

      Reply
  • September 1, 2018 at 8:35 am
    Permalink

    Sir,

    Please clarify the following points
    LiC Jeevan anand plan 149 sum assured amount 100000 ,Yearly premium paid Rs7314 from 2004 on words, Maturity year 2020.

    After maturity how much total amount will get

    and also what is another benefits.

    Please kindly clarify

    Reply
    • September 2, 2018 at 6:35 am
      Permalink

      Please use the calculator for maturity value.. give the term as 16 years and Sum Assured as 100000. Life long coverage of 100000 also shall be available.

      Reply
  • September 4, 2018 at 8:54 am
    Permalink

    Hie Sir,
    I have taken Jeevan Anand Plan -149
    Age
    49 Yrs
    Policy Benefits
    ₹ 1,00,000
    Premium Paying Term
    14 Yrs
    Policy Term
    51 Yrs
    Commencement Date
    28/09/2005
    Date of Maturity
    28/09/2056

    Sir in the premium bond the last payment date is mentioned as 28/09/2018 but according to premium paying term the date would come to 28/09/2019.. Sir please help me out

    Reply
    • September 5, 2018 at 12:55 pm
      Permalink

      You will have to pay 14 premiums only. so the last premium to be paid is 28/09/2018.

      Reply
  • September 5, 2018 at 8:41 am
    Permalink

    HI I am holding Jeevan Anand (Plan-149) policy. But i am not very clear about the returns / benefits of it.
    i am paying 5163/- per quarter. which started 12/06/2010.
    i have to pay for total 25 yrs. so what is the benefits i am going to get.
    can you please ans me in detail…

    Reply
    • September 5, 2018 at 12:52 pm
      Permalink

      Please click on the calculator link to open the Jeevan Anand calculator to calculate maturity returns.

      Reply
  • September 9, 2018 at 6:54 am
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    Now when I look back, I guess taking Jeevan Anand 149 policy would have been better, my agent sold me Endowment Assurance policy plan 14 policy in April 2003, sum assured 220000 for 18 years. I see that Jeevan anand would have been good. Not sure, did he sold me right policy or fooled me. Thanks MOHAN

    Reply
    • September 10, 2018 at 12:36 am
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      Jeevan Anand is a good policy. It provides lifelong coverage. The endowment policy is (Jeevan Anand – Lifelong coverage).

      Reply
  • September 15, 2018 at 8:24 am
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    Commencment date : 26/12/2005
    Premium Paying Term : 25 Yrs
    Policy Term : 74 Yrs
    Age at the time of commencement : 26 Yrs
    Date of Maturity : 26/12/2079

    When will I get the Maturity amount ?
    Do I have to wait till 26/12/2079?

    Please reply…

    Reply
    • September 16, 2018 at 3:55 am
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      The maturity shall be available on completion of 25 Years ie 2030.

      Reply
  • September 23, 2018 at 8:11 am
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    Hello Anish Je…….

    Heartening to see this good work. Thank you so much. The benefits calculator for 149 is so helpful. It really made my day.

    I took this policy in 2009 when I was 44 plus at SA of 25 L. My paying term of 12 years will probably end in 2020 and the policy will mature in 2021. My age then will be 56. Except a few delayed premiums and unfortunately taking a loan against this , the rest all went well. For some financial reasons I would like to surrender the policy at maturity in the hope of commuting the SA otherwise available until 100 / death whichever is earlier. From a chart in the comments above I presume that I will get only about 30% of the SA as SV at 56 which seems quite a small amount. I have two issues :-

    1. Is commutation easily available at maturity,

    2. Is it advisable from the cover perspective to surrender and use the money while still alive. I asked a friend he advised not to surrender. But my understanding is that one can reinvest this judiciously along-with the policy benefits and leave some assets for the nominee which together can prove a good investment with some annual returns. For example an apartment , a shop etc. Yes , it may depend on personal goals and tastes and preferences, but what is preferable from the insurance point of view.

    Thank you sir and wishing you all the best

    Kindest regards,
    Mohammed

    Reply
    • September 24, 2018 at 3:43 pm
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      Dear Mohammed, All the options are open.. Think well and take a decision. Happy to understand that the calculator was useful to you.
      Anish

      Reply
  • September 26, 2018 at 11:22 am
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    Hello Sir,

    I have taken JEEVAN ANAND POLICY 149

    Date of commencment of Policy:28.08.2005
    Paying Term : 23
    Premium Amount per year : 49085/-
    Date of last payment :28/02/2028

    When will I get the maturity amount & how much ?

    Reply
    • October 1, 2018 at 6:54 am
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      The maturity of the plan is after the premium paying term and it will be after the completion of 23 years. Please use this calculator to get likely maturity amount.

      Reply
  • September 28, 2018 at 10:06 am
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    Dear Anish,

    I have a Jeevan Anand Plan 149 for SA 3,00,000.00 . I have been paying the Premium from 2010 for Rs. 15,341.00. I have paid 9 years. If I surrender the policy now, How much I will get ?

    Reply
    • October 1, 2018 at 6:50 am
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      Please contact the nearest branch office to get surrender value. Please read the article and get a clear idea of the plan and then decide on surrendering.

      Reply
  • September 28, 2018 at 10:35 am
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    Hi Anish,
    I have purchased LIC Jeevan Anand 149 in 2010 when I was 27 year old.I have 21 policies each with SA 1 lakh and premium payment term varying from 23 years to 43 years for 1st to 21st policy.So premium pay amount for all policies vary accordingly. Year of maturity for all is 2083.I pay for all policies combined on a quarterly basis.My Query is, is it possible to surrender all 21 policies by 2033 when 1st policy premium term is over and still get the benefits of Accrued Bonus + FAB + SA together . Also what will happen to life cover in that case?

    Reply
    • October 1, 2018 at 6:48 am
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      Surrendering all your policies will bring in huge loss to you. Further, you will not get the ‘LIfelong coverage’ which is the highlight of this plan.
      I think Agent’s intention was to provide you a type pension from 23 rd year to 43 rd year. Purchasing policies in this manner have certain advantages as well as disadvantages. The advantage is that you will get a tax free annuity and disadvantage is that you will lose Sum Assured rebate provided for higher sum assured when taken as a single policy.

      Reply
      • October 1, 2018 at 7:19 am
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        Thank You for your reply.

        Reply
  • September 30, 2018 at 4:42 am
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    Dear sir,
    does this plan149 cover a natural or heart attack death even at the age of 80 or so?

    Reply
    • October 1, 2018 at 6:33 am
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      Dear Sir,
      Jeevan Anand plan covers all types of deaths including natural and accident. So deaths due to diseases also are covered.

      Reply
  • October 2, 2018 at 7:03 am
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    Dear Sir, I hold Jeevan Anand (Plan 149) commenced from 15-03-2007 with an yearly premium of INR 39,935 and sum assured is INR 8,00,000. I had paid yearly premium promptly till 2015 after which my business went through a dip and i am yet to recover. Already 3 years gone by and I am yet to recover from it. I am thinking of closing this policy so that I get some thing which helps me. Just wanted to know how dies it work and how much would I get back? Please let me know

    Reply
    • October 3, 2018 at 3:12 pm
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      Please contact nearest branch office to get the surrender value.

      Reply
    • October 3, 2018 at 3:12 pm
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      Please contact the nearest branch office to get the surrender value.

      Reply
  • October 5, 2018 at 10:07 am
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    Hello sir,

    I took jeevan anand 149 policy in 2013, I was 27 years old then.

    Paying term is 20 years

    Policy term is 73 years.

    Total 3 lakhs of policy.

    Paying around 16k every year.

    So when will I get the maturity amount?

    What this policy term mean?

    Does it mean I will get maturity amount after 73 years?

    Please help me out.

    Thanks in advance.

    Reply
    • October 8, 2018 at 2:11 pm
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      Dear Aswini,
      Jeevan Anand is a plan having lifelong insurance coverage, which is arbitrarily considered as ‘up to 100 years’ of age. You took the policy when you were 27 and 100-27 gives 73 years. The maturity of the policy is after the premium paying term and in your case, it is after 20 Years. You will be getting a Sum Assured + Bonus + FAB at the time of maturity. Use this calculator to get maturity benefits.

      Reply
  • October 15, 2018 at 4:04 pm
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    Hi took jeevan Anand when I was 25yrs old in 2012.. sum insured 4,00,000 premium paid is 21500 yearly.. for 20yrs …. policy maturity is 2087
    kindly let me know how much I might get after 20yrs ..

    Reply
    • October 16, 2018 at 2:13 pm
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      Please use this calculator to get expected maturity returns.

      Reply
  • October 17, 2018 at 7:57 pm
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    Hi Anish

    My term says 78 and the calculator is not allowing to put more than 30 yes..my understanding was it’s 39yrs,half yearly I pay premium of 5794,sum assured-5L and doc- Mar/2013. Could you please help me understand the terms, till when I should be paying premiums and when can I get the LIC amount when all the bonus?

    Reply
    • October 18, 2018 at 4:56 am
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      You are eligible for an insurance coverage up to age 100. Actual term of the policy is your premium paying term. Maturity shall be available at the end of the premium paying term.

      Reply
      • October 18, 2018 at 5:02 am
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        Can I find my premium payment period anywhere on the LIC receipt and as you said 22yrs,so I should be paying the premiums until 2035?

        Reply
        • October 18, 2018 at 5:07 am
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          There is an error in my reply. I have edited my reply please check it. I presume that you have taken the policy at the age of 22. The term of the policy is available in the policy bond itself.

          Reply
  • October 18, 2018 at 5:13 am
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    Sorry for multiple questions but I feel it’s only you who can help me here to understand and thanks for your quick responses.Yes,when the LIC commenced I was 22yrs old and just one clarification what I want is, till when I should be paying my premiums?bcoz as per my dad I should be paying it untul I am 60, that’s very long period (39yrs).

    Reply
  • October 20, 2018 at 9:26 am
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    Dear Sir, I was enrolled in Plan 149 with the commencement date October,2013 with yearly premium for sum assured 5 lack.
    Premium was discontinued from 2017 on wards ( last paid in October 2016). I am not interested to continue with the policy. My I know whether I may refund any part of the payment maid so far?
    Looking for your reply.

    Reply
    • October 25, 2018 at 3:23 pm
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      Hi Gireesh,
      Jeevan Anand is a good policy and I don’t find any reason to discontinue it. You are getting lifelong insurance coverage in this scheme. Surrendering a policy can bring in a big loss. If you want to know the surrender value please contact the nearest branch office. As the policy is now in paid-up status you can get the paid-up value + accrued bonus at the time of maturity.

      Reply
  • October 31, 2018 at 6:10 am
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    Hi Anish,
    I have a Jeevan Anand – 149 policy. Bought in 2013 Jan. I have paid premium for 6 yrs totally. I want to surrender this policy now as i do not wish to continue with it. What will be the returns i will get on surrendering it. SA is 700000 & yearly premium is 35895. Table & Prem paying term as mentioned on policy is 149 / 71 / 21. I’m unable to get clarity from the agent who sold me this policy. Please advise.

    Reply
    • October 31, 2018 at 2:30 pm
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      Please contact the nearest LIC branch office to get the surrender value amount. By the way, Jeevan Anand is a good policy and I don’t find any reason to surrender it. Do you have a better insurance-investment option? You will lose valuable insurance coverage at the premium rate as per your age 7 years back. Think well before deciding.

      Reply
  • November 3, 2018 at 2:50 am
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    Sir I joined jivan Anand 149 plan
    5year paying term
    If I want amount after Finishing of paying term so how much I will get.

    Reply
    • November 7, 2018 at 4:12 pm
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      You will be receiving Sum Assured + Bonus after the premium paying term. Please refer to the chart given below for the surrender value of lifelong coverage.SV Chart

      Reply
  • November 7, 2018 at 3:33 pm
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    hi sir,I have a Jeevan Anand 149 policy bought in sep 2013,,paid premium for 2 years after that due to some reasons didn’t paid premium till now……today I went lic branch office.there I got an information I.e.,total amount of premium 85912,late fee :17333,GST:3119,total revival amount payable:106365…..they said I won’t get even a paisa if I surrender my policy…need ur valuable suggestion …thankyou

    Reply
    • November 7, 2018 at 4:36 pm
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      You cannot surrender any life insurance policy if it has not acquired paid up value. The minimum period required to acquire paid-up value is 3 years. As you have not paid the premium for three years you cannot surrender the policy. Further, if you don’t revive the policy, you will lose the premium paid.
      So the only option available for you is to revive the policy and make it paid for more than three years. Once revived you can either continue the policy or keep it as paid up till maturity and receive proportional maturity benefit.

      Reply
  • November 14, 2018 at 3:09 pm
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    Dear sir

    I have taken the policy of LIC149 1st Jan2013 and it’s continue what will be my maturity.my primium 9069/- quarterly. And sum insured 500000/-, policy term is 16year

    Reply
  • November 18, 2018 at 5:32 pm
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    Hello Sir,

    I took jeevan anand 149 policy in 2009, I was 18 years.

    Paying term is 16 years

    Policy term is 82 years.

    Total 3 lakhs of policy.

    Paying around 20k every year.

    So i want to surrender the policy and invest the amount in mutual funds (due to personal commitments).

    Can i surrender now? if yes how much loss will i incur? i read 30% loss from total premiums paid till now, i need some valuable information from you.

    Thanks in advance.

    Reply
    • November 24, 2018 at 4:25 pm
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      You can get the surrender value of your policy from the nearest branch office. But I would suggest you to continue the plan and invest some other money in the mutual fund. If you cannot set aside any more money, then keep this policy as paid up and receive the maturity amount after the completion of the term.

      Reply
  • November 21, 2018 at 11:24 am
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    Dear sir,

    Commencement date : 28/10/2013
    Premium Paying Term : 21 Yrs
    Policy Term : 75 Yrs
    Age at the time of commencement : 25 Yrs
    Date of Maturity : 28/10/2088

    When will I get the Maturity amount ?
    Do I have to wait till 28/10/2088?

    Reply
    • November 24, 2018 at 4:16 pm
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      I have answered this question several times in the comment section. Maturity is available after premium paying term which is 21 years. Insurance coverage shall be available up to 100 years of age or 28/10/2088.

      Reply
  • November 23, 2018 at 10:26 am
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    Hi Anish,

    I hold policy jevan anand (149).
    age at entry : 27
    premium paying term : 10 years
    sum assured : 1000000

    By using the calculator, i get FAB value as 0. what is the criteria to be eligible for FAB ?

    Reply
    • November 24, 2018 at 4:14 pm
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      As of now, policies with term higher than or equal to 15 years are eligible for Final Addition Bonus. So a 10-year policy is not eligible for FAB.

      Reply
  • November 28, 2018 at 12:11 pm
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    Hi, Mr. Anish,
    Im having Jeevan Anand 149 policy.
    Commencement date :10/08/2013
    Age at entry : 27
    Sum assured:2,50,000
    Policy Term :73
    Premium Term:35
    Premium : 1809 (Quarterly).

    1. I couldn’t able to enter premium term more than 30 year (as my premium term 35 yr) for calculate my expected maturity amount by using your online calulcator. Please solve or do let me know how much will get after my maturity.
    2.Can i reduce / change my premium term year? if so what i need to do.
    3.Can i change my nominee, if so what is the procedure.
    4.income tax applicable for the maturity benfit amount?

    Reply
    • November 29, 2018 at 4:18 pm
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      Hi Vinu,
      Thank you for notifying me the error. I have updated the program so that you can enter term up to 35 years. I will be updating it for the term beyond that soon. Please use this calculator.
      2. You can reduce the term of the plan if you need. You can approach your branch office to reduce the term. Reduction in term is possible but increase in term is not allowed.
      3. You can change the nominee of your policy any time. Approach your branch office. Read more here.
      4. The maturity amount is completely exempted from income tax as per section 10 (10D). Read more on income tax rules applicable for LIC policies here.

      Reply
      • December 2, 2018 at 5:30 am
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        Thanks for your prompt response and updating online calculator.

        Reply
      • December 2, 2018 at 6:17 am
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        Dear Mr. Anish,

        I’m holding two policies with same date and features (Details as mentioned above) but agent are different. While calculating total premium need to be paid with the help of your online calculator, realize that I need to paid total premium of Rs.26215/- surplus than a single policy.

        Can I merge these two policies with a single one? If so please guide me..

        Thanks in advance

        Reply
        • December 2, 2018 at 4:17 pm
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          You cannot merge two policies after purchase. You will have to continue the plan as such. The difference in premium is due to the loss of high Sum Assured rebate which may not be available while splitting the policies.

          Reply

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