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
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.
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.
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?.
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.
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%.
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.
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.
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 year..my premium is Rs 39917..sir that means i will pay a total of rs 39917??18=718506Rs for a policy of 5 lacs..do 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.
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 paid-up..how 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 : 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.
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 : 12-05-2015 17:15:00
@ 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.