Difference Between New Jeevan Anand and Old Jeevan Anand

LIC has launched its most sold policy Jeevan Anand (Table No: 149) in new avatar namely New Jeevan Anand (Plan No: 815) with more benefits and competitive in life insurance market. Following table very well explains the difference between old Jeevan Anand and New Jeevan Anand.

Details Old Jeevan Anand
(Table No: 149)
New Jeevan Anand
(Table No: 815)
Age of Entry 18 to 65 years 18 to 50 years Change
Premium Paying Mode Yearly, Half Yearly, Quarterly, Monthly (ECS Only) Yearly, Half Yearly, Quarterly, Monthly (ECS Only) No Change
Policy Term 5 to 57 Years 15 to 35 Years Change
Basic Sum Assured 100000 and above 100000 and above ( in multiple of 5000) Change
Policy Revival within 2 year within 2 year Change
Rebate 3% on yearly, 1.5% on Half Yearly, Nil on Quarterly 2% on yearly, 1% on Half Yearly, Nil on Quarterly Change
Loan After 3 years After 3 years No Change
Surrender After 3 years of full premium payment After 3 years of full premium payment No Change
Guaranteed Surrender Value 30% of total premium paid 30% after 3 years, 50% after 5 years, Maximum 80% of total premium paid Change

Life Insurance Corporation of India (LIC) has revised all its policies and in process of launching policies with better return, New Jeevan Anand (Plan No: 815) is one of them.

For more details of New Jeevan Anand Click here

Comments & Reviews

Wrote : 06-03-2018 12:59:42

I saw some information on licebiz. If sum assured(BSA) is >= 1000000 then there is 3% rebate of BSA. Is this rebate on first time yearly premium or something else.

Replied : 06-03-2018 21:41:20
Final premium is calculated after all applicable rebates (High Sum Assured rebate and premium payment mode rebate) and the same will be applicable during entire premium premium term. You do not need to claim it separately.

Write CommentReply

Wrote : 06-01-2018 20:53:44

The question was specific the rebate will go to whom.policy holder or agent? Because we pay full premium as indicated

Replied : 06-01-2018 21:19:48
Policy holder will pay less amount. For example, if your monthly premium is 100 then your yearly premium will be 1164 (1200- 36) considering rebate at the rate 3%. Rebates are not shown explicitly.

Write CommentReply

Wrote : 27-12-2017 01:35:50

if i pay aremiums on annual basis, rebate part 3% of premium will come to me or to the agent ?

Replied : 27-12-2017 21:52:25
It is not separate, the premium to be paid will be calculated after deducting this rebate, for example, if your yearly premium without rebate is Rs. 100, then you will need to pay on Rs. 97.

Wrote : 11-01-2018 17:40:20

Dear Insurance21, Hope you haven't understood the above query. --rebate part 3% of premium will come to me or to the agent ? Your answer is highly appreciable.

Replied : 13-01-2018 23:11:44
Sir, if your paying 97 instead of 100, then it means the rebate amount is availed to you only. Please understand rebate is not paid or given separately.

Write CommentReply

Wrote : 20-12-2017 17:30:48

My LIC plan 149 shows maturity date of 2088 year. I took the policy in 2011 for the term 20 years.. anythoughts please

Replied : 20-12-2017 18:07:22
Maturity will happen after 20 years and after maturity you will life cover up to 2088 equal to sum assured and in 2088, you will receive second maturity.

Write CommentReply

Wrote : 05-12-2017 20:42:48

What's the procedure to change the branch ? my LIC agent is not responding to my query, neither the local branch. Thanks

Replied : 06-12-2017 22:35:38
Visit your branch with application to change your branch.

Write CommentReply

Wrote : 24-11-2017 00:17:24

weather we can change the nominee after the maturity period .

Replied : 27-11-2017 12:21:49
Yes, it can be changed. You need to visit your branch for this.

Write CommentReply

Wrote : 22-11-2017 16:09:00

Sir, I have started Jeevan Anand Policy (815 ) in May 2014 and I have Paid Nov 2017 Premium. As per policy I supposed to receive bonus. When will I Get the Bonus credited to my account. Due date is 7 of Nov 2017 and I have Paid as on 21st of Nov 2017 and with this I have completed payment of 8 Premiums. my question is when they are going to process the bonus payout for me?

Replied : 24-11-2017 02:01:19
Accumulated Bonus is paid along with sum assured at maturity or death during the policy term.

Write CommentReply

Wrote : 17-11-2017 23:31:40

Jeevan Anand (Plan-149) Age 24 Yrs Premium Paying Term 20 Yrs Commencement Date 20/07/2007 Policy Benefits 2,00,000 Policy Term 76 Yrs Date of Maturity 20/07/2083 This is my policy info . after last premium payment in 2027,let me know that when I get the amount including its bonus (say the exact year)

Replied : 18-11-2017 21:34:16
Maturity will happen in year 2028. From 2028 to 2083, you will have life cover of 2,00,000.

Wrote : 11-01-2018 21:58:50

Is this kind of life cover post maturity also available in New Jeevan Anand? If yes why it is not mentioned in the policy?

Replied : 13-01-2018 23:03:42
Please find following section on your policy document, this means life cover after maturity.
what is meaning of risk cover after maturity  in jeevan anand

Write CommentReply

Wrote : 28-08-2017 13:45:06

How to change the Premium paying mode from quarterly to annually.

Replied : 28-08-2017 19:41:19
You can chage it. For easy process, Please visit your branch a month advance to due date of 1st quarterly of a policy year. For example, if your policy issue date is 1st may then, you can visit in march to change premium payment mode.

Write CommentReply

Wrote : 26-08-2017 09:42:37

Jeevan Anand (Plan-149) Age 39 Yrs Premium Paying Term 21 Yrs Commencement Date 28/08/2005 Policy Benefits 1,00,00,000 Policy Term 61 Yrs Date of Maturity 28/08/2066 This is what my policy info says online. Can you please explain what will happen when I will pay my last payment in 2026. Will I get the assured sum and dividend paid out to me, and still have life coverage of the assured sum upon my death? Why does it say date of maturity as 8/28/2066? I was told by the agent that I will get the assured sum and dividend paid out to me at the end of me paying all the installments, and still have full life coverage for assured sum.

Replied : 26-08-2017 11:30:08
Your maturity will be available in year 2026 as first maturity and from 2026 to 2065 (99 Year of age) you will have life cover equal to sum assured and once you attain 100 year of age in year 2066, then you can receive risk cover amount yourself as second maturity. You do not need to pay premium after 2026.

Write CommentReply

Wrote : 18-08-2017 13:51:25

During Jeevan Anand (815) policy closure on maturity we want to surrender the policy and claim the the after death benefit amount also together with matured amount. I do not want to wait till my death to get the money to my nominee. I want to claim that also along with maturity which is possible and allowed in LIC. Please let me know if the sum assured is 5 lac, how much I will get for the remaining 5 lac during maturity, which I suppose to get after my death ?

Replied : 18-08-2017 20:43:02
You can surrender and surrender value will depend upon age at the time of surrender.

Write CommentReply

Wrote : 18-07-2017 13:22:22

Policy term means... No of policy or some other please expline

Replied : 18-07-2017 14:19:38
Term means, number of years in which policy will mature or complete.

Write CommentReply

Wrote : 11-07-2017 22:53:50

I paying premium from last since 2013. (Paying Rs. 25K yearly) 1. Will I get any bonus in any year ? 2. I got information to get sum assured of around 10 Lakh while policy showing 5 lakh. Please confirm.

Replied : 12-07-2017 15:32:08
Maturity calculator is available for this plan, please use it for approx benefits. Exact maturity can only be calculated on maturity.

Wrote : 14-07-2017 07:01:01

Hi, I have the premium only for one in 2012...since then I haven't paid. ..but now willing to pay. May I know what's the procedure...? Policy name Jeevan Anand 149

Replied : 14-07-2017 11:39:50
Your policy would have lapsed in in 2013 and a lapsed policy can be revived within 2 years of lapse, but you may contact your branch to know more. You need to provide id proof and due premiums with penalty to revive/continue.

Write CommentReply

Wrote : 01-05-2017 12:23:32

I want a loan over my policy t no 149 which complete 3and half years how can I apply?

Replied : 03-05-2017 00:06:24
You need to visit your policy issuing branch.

Write CommentReply

Wrote : 23-01-2017 23:50:46

Can my husband get tax benefit under new jeevan aanand policy ? While I'm policy holder and he is nominee

Replied : 24-01-2017 16:24:36
Yes, any one you can claim it under 80c.

Write CommentReply

Wrote : 25-12-2016 11:30:25

i want to cancel this policy as I have been given fake information about the policy. The LIC agent who imposter to be genuine LIC Employee has sold me the policy with all false information as follows: 1. He told me that if I buy this policy directly from LIC as he himself is representing LIC, I would get 20% reducing rebate every year on my policy premium as LIC is running a promotional offer. 2. I will get a LIC credit card with the Bond papers which will provide me an additional 10% cashback if I pay my LIC policy premium with that card. He lured me with these offers to buy this policy and now his mobile phone is switched off. Since that day when i handed over the cheque i did not get any paper like Bond or that card i just have policy no and receipt scanne copy which was given by him, when i call him multiple times. i have sent so many mails to him but no response I would request you to cancel this policy and let me know the process for refund with immediate effects

Replied : 25-12-2016 21:13:38
Please register your policy to get all details related to your policy (e.g. Branch), so that you can initiate process of cancellation.

Write CommentReply

Wrote : 19-12-2016 19:49:25

I am paying premium quarterly for old jeevan anand policy which i took on 28.08.2013. How can i convert it half yearly? if i make it half yearly, when will be my due date?

Replied : 19-12-2016 22:37:54
You can apply for premium payment mode change a month prior to due date of premium payment. So you need to apply in August-2017 for it. 28 Aug 2017 will be due date for first half yearly premium payment and 6months later, i.e. 28Feb 2018 will be due to date for next premium and so on.

Write CommentReply

Wrote : 05-12-2016 19:57:33

I m a policy of holder of old jeevan anand of Rs.2.00lakh value. Can I switch over to new jeevan Anand policy. I have already paid the fourth yearly installment.

Replied : 05-12-2016 20:23:02
You cannot switch and by the way, why do you want to change?.

Write CommentReply

Wrote : 12-01-2016 22:55:14

I have a Old Jeevan Anand policy for monthly 500. Now i change the New Jeevan Anand policy with effect of the 2011.

Replied : 13-01-2016 19:16:32
why do you want to change? any ways change it not possible.

Write CommentReply

Wrote : 21-12-2015 12:26:47

I have purchased jeevan anand policy in December 2013 which is under plan no. 149 for sum assured of Rs. 7 lakhs for 21 years at the age of 28 years. Total Premium amount payable was Rs. 35,895/- which was paid by me through cheque in the year 2013 & 2014. Now, i am planning to make payment through online, however, it is asking me to put premium amount excluding taxes. Can you help me with the break-up of total premium amount of Rs. 35895/-, so that i can make online payment.

Replied : 21-12-2015 12:59:09
Plan 149 was sold without service tax and it service tax is not applicable with this plan. Rs 35,895 must be without service tax.

Write CommentReply

Wrote : 14-10-2015 00:21:09

Hi, I had taken retire and enjoy policies of old jeevan anand - Table 149 (18 Policies-qtly mode) in dec-2013 for 60 Lakh SA and 2 Lakh per year premium for 22 Years. I have paid 3.6 Lakhs so far... My queries: 1) How much would be my total maturity amount including Bonus and second SA? (I have estimated as 2.25 Crores) - Maturity starts from 23rd year to 40th year spanning for 18 Years 2) How much percentage of returns (interest percentage) including bonus & 2nd SA in total will I get? (My calculation is 9% returns over all - I just did a basic excel calculation and I'm not sure) 3)If I discontinue now (before 2 year completion), how much will get? I think it's zero if lapsed before 3 Years. But if I choose to finish 3 Years of payment (6 Lakhs), I will loose 4.2 Lacs considering 30% refund of total premium payed and if i discontinue now, I will loose 3,6 Lakhs. I would like to continue this policy ONLY if I get atleast 9% overall returns. But not able to judge the bonus additions ba

Replied : 14-11-2015 21:20:54
please use calculator for approximate values. I dont think return will be 9%.

Write CommentReply

Wrote : 16-06-2015 11:29:49

Hi sir . i have taken Jeevan Anand 149 on 2002 for sum assured Rs 300000. What will be my Maturity amount? After that how much amount i can get as normal life cover ? If i dont required normal life cover after my maturity then what will be my maturity amount?

Replied : 16-06-2015 12:15:17
Please use maturity calculator for approx value and you can surrender your policy at maturity in case you dont require normal life cover.

Write CommentReply

Wrote : 15-06-2015 16:28:33

How much will be the premium amount difference on purchasing policy on-line instead through agent.

Replied : 15-06-2015 16:51:19
Only 2 policies Jeevan Akshaya and e-term can be bought without agent, other than these two agent is must.

Write CommentReply

Wrote : 12-06-2015 10:58:17

Hi Sir, My Jeeva Anand Policy 149 Started in 2012 with sum assured 5 lakhs and 20 terms. I have paid only four premium total 8660 Rs till now. Policy Lapsed without surrender value. Now to revive the policy I have to pay 76,151.00 which includes 9,036.00 penalty. So My question is , is it worth continuing this policy or start a new one - new Jeevan Anand?

Replied : 12-06-2015 13:41:30
Please read my artical about new jeevan anand and know the complete details of it. And evaluate yourself and also consider income tax return and tax free maturity. In case of any query, please let me know.

Write CommentReply

Wrote : 12-06-2015 02:00:45

Sir i have made a jeevan anand 149 policy for 5 lacs at a age of 53 in the year 2012 for 18 premium is Rs 39917..sir that means i will pay a total of rs 39917??18=718506Rs for a policy of 5 you think i should continue with this policy or should i surrender it..

Replied : 15-06-2015 16:56:32
Please understand that this policy is for risk cover, which is very high at an age of 53. I would not suggest surrendering because you will get lumsump maturity which is sum assured Bonuses and after maturity life cover of 5 Lakh will be there for life time.

Write CommentReply

Wrote : 01-06-2015 16:46:28

hi sir..i took jeevan anand(149) in 2009 for sum assured 5 lac and 21 terms , so far i have paid 5 terms permium..because of some reasons i am not intrested to pay further..pls let me know which is best option weather to surrender or much will i get in case of surrender

Replied : 01-06-2015 21:06:31
Surrendering will give you approximately 50% of total paid premiums plus 20% of accumulated bonus. paid up will not accumulate further bonus and at maturity reduced SA plus bonus will be payable.

Wrote : 21-11-2017 18:14:19

What is the minimum premium payments required for old jeewan Anand policy to be eligible for Paid-up. ?

Replied : 21-11-2017 21:24:45
All premium for first 3 policy years will be required to be paid for paid-up.

Write CommentReply

Wrote : 16-05-2015 11:06:02

Hi Sir, Could you please let me know how much amount i am going to get for Jeevan Anand ploce (Plan No 149).. my ploice started in April 2007 for sum assured 5 lac and 20 terms , so far i have paid 8 terms permium.. can i surrender this police and join the new Jeevan Anand police in order utlize more benifts. please let me know how much maturity benift i am going to get if i continue in this police

Replied : 16-05-2015 12:00:56
There is no difference between old jeevan anand and new jeevan anand as far as benefits are concerned. however, the premium of new jeevan anand is higher than old jeevan anand because it attracts service tax. I would suggest to continue with this.

Write CommentReply

Wrote : 12-05-2015 17:15:00

If I am surrendering my jeeva anandh policy means after 3years...Will I get the whole premium amount which I have paid for last 3years

Replied : 16-05-2015 11:56:52
30% of total premium paid accumulated bonus.

Wrote : 30-01-2016 13:04:03

@ Ravi......Old jeevan anand policy in which no service tax was charged on premium then whether it is liability of company to pay service tax to government?

Replied : 30-01-2016 13:09:11
yes, an insurance company is required to pay service tax to Government of India.

Write CommentReply

Write Comment & Reviews