The exact amount you will receive in LIC Jeevan-Anand after maturity depends on various factors, including your specific policy's Basic Sum Assured, the policy term, and the bonuses declared by LIC over the duration of your policy.
However, based on an illustrative example from LIC's New Jeevan Anand (Plan 915), you could receive a maturity amount of ₹1,033,000 after 21 years, in addition to continued life cover.
Understanding Your LIC Jeevan Anand Maturity Benefits
LIC Jeevan Anand is a comprehensive endowment plan designed to provide a lump sum financial benefit at maturity while also ensuring continued life insurance coverage even after the policy term concludes. The maturity benefit typically consists of the Basic Sum Assured, accumulated Simple Reversionary Bonuses, and a Final Additional Bonus (FAB), if declared.
Here's a breakdown of the maturity components from a specific example:
| Component | Amount (₹) |
|---|---|
| Basic Sum Assured (paid at maturity) | 500,000 |
| Accumulated Bonus | 483,000 |
| Final Additional Bonus (FAB) | 50,000 |
| Total Maturity Returns (e.g., after 21 years) | 1,033,000 |
Key Aspects of LIC Jeevan Anand Maturity:
- Lump Sum Payout: You receive a substantial one-time payment at the end of your policy's chosen term. This payment includes the Basic Sum Assured, all accrued bonuses throughout the policy period, and any applicable Final Additional Bonus.
- Continued Life Cover: A unique and valuable feature of Jeevan Anand is that even after you receive your maturity payout, your life cover for the Basic Sum Assured continues for your entire lifetime (typically up to 100 years). This extended coverage requires no further premium payments, offering lifelong financial protection for your beneficiaries.
- Bonus Accumulation: Throughout the policy term, your policy earns Simple Reversionary Bonuses, which are declared annually by LIC and added to your policy's value. These accumulated bonuses are then paid out as part of your maturity benefit.
- Final Additional Bonus (FAB): This is an additional bonus that may be declared and paid out at the time of maturity or claim settlement, provided the policy has completed a specific minimum duration.
For more detailed information on specific plan benefits, you can refer to resources like LIC New Jeevan Anand plan 915.
It's important to note that the bonus rates are not guaranteed and can vary based on LIC's performance and declarations. Therefore, while the example provides a concrete illustration, your actual maturity benefit will depend on the specifics of your policy and the bonuses declared during your policy's tenure.
