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LIC Jeevan Anand 20 Year Premium & Maturity Calculator

Calculate the annual premium and estimated maturity amount for your LIC Jeevan Anand (Plan 915) 20-year policy. Enter your age and sum assured to get started.

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Sum Assured (₹)

What is the LIC Jeevan Anand 20-Year Calculator?

The LIC Jeevan Anand 20-Year Calculator is a specialized tool that calculates the annual premium and estimated maturity amount for a 20-year Jeevan Anand (Plan 915) policy. The 20-year term is one of the most popular choices for Jeevan Anand because it provides a good balance between affordable premiums and substantial bonus accumulation. This calculator requires just two inputs — your age and desired sum assured — and gives you an instant estimate of the annual premium you need to pay and the amount you can expect at maturity including bonuses.

A 20-year Jeevan Anand policy is particularly attractive because it aligns well with major life milestones. If you take the policy at age 30, it matures when you are 50, which is typically when children\'s higher education expenses peak and retirement planning becomes critical. The maturity proceeds can be used for these purposes while the life coverage continues until age 100, ensuring your family remains protected even in your later years. The 20-year term also allows for significant bonus accumulation, making the total maturity amount substantially higher than the sum assured.

How to Use the 20-Year Jeevan Anand Calculator

Follow these simple steps:

Enter Your Age: Input your current age between 18 and 50 years. Your age directly affects the premium rate.
Enter Sum Assured: Enter the life cover amount you want (minimum ₹1,00,000).
Click Calculate: Instantly see your annual premium, estimated maturity amount (including 20 years of bonuses), and the total bonus amount.

The calculator fixes the term at 20 years and uses standard LIC premium rates for Jeevan Anand along with current average bonus declaration rates. The estimated maturity amount includes the sum assured plus 20 years of Simple Reversionary Bonuses plus a Final (Loyalty) Addition.

Premium Calculation for 20-Year Jeevan Anand

The annual premium for a 20-year Jeevan Anand policy depends primarily on your age at entry. For a sum assured of ₹5,00,000, a 25-year-old might pay around ₹26,000-₹28,000 annually, while a 45-year-old would pay approximately ₹42,000-₹45,000 for the same cover. This difference exists because the mortality risk increases with age. The premium includes the base premium plus GST at 4.5% (for first year) and 2.25% (for subsequent years). The mode of payment also affects the premium — yearly payment is the cheapest followed by half-yearly, quarterly, and monthly.

Annual Premium = Sum Assured × Premium Rate (based on age and term)

Maturity Amount After 20 Years

The maturity amount after 20 years consists of the sum assured plus accumulated bonuses. The Simple Reversionary Bonus is declared by LIC each year at a rate per ₹1,000 sum assured. If the bonus rate averages ₹45 per ₹1,000 over 20 years, a ₹5,00,000 policy accumulates ₹4,50,000 in bonuses. The Final (Loyalty) Addition adds approximately ₹10,000-₹15,000 for this sum assured. So the estimated maturity amount would be ₹5,00,000 + ₹4,50,000 + ₹12,500 = ₹9,62,500. After receiving this amount, the life cover for ₹5,00,000 continues until age 100 without any further premium payments.

Tax Benefits of 20-Year Jeevan Anand

The 20-year Jeevan Anand policy offers excellent tax efficiency. Under Section 80C, annual premiums up to ₹1,50,000 are deductible from taxable income. The maturity proceeds are fully tax-free under Section 10(10D) provided the premium is within 10% of the sum assured. For a 20-year policy with ₹5,00,000 sum assured and ₹28,000 annual premium, the premium is only 5.6% of the sum assured, well within the 10% limit, making the ₹9,62,500 maturity amount completely tax-free. This tax efficiency, combined with life cover and savings, makes the 20-year Jeevan Anand a compelling choice for conservative investors.

Frequently Asked Questions

What is the LIC Jeevan Anand 20-year policy?

The LIC Jeevan Anand 20-year policy is a specific variant of Jeevan Anand (Plan 915) with a fixed 20-year policy term. Under this plan, you pay premiums for 20 years, and at the end of the term, you receive the sum assured along with accrued bonuses. The unique feature is that life coverage for the sum assured continues even after maturity until age 100 or death whichever is earlier. This 20-year term is one of the most popular choices because it aligns well with career and financial planning milestones.

How is the premium calculated for Jeevan Anand 20-year policy?

The premium for LIC Jeevan Anand 20-year policy is calculated based on your age at entry and the chosen sum assured. Younger applicants pay lower premiums. The premium rate is determined by LIC's actuarial tables which account for mortality risk, expected bonus payouts, and expenses. For a 30-year-old with a sum assured of ₹5,00,000, the annual premium would typically be around ₹28,000 to ₹32,000. Our calculator provides an accurate estimate using standard LIC premium rate tables.

What is the maturity amount for Jeevan Anand after 20 years?

The maturity amount for Jeevan Anand after 20 years consists of the basic sum assured plus Simple Reversionary Bonuses declared over 20 years plus any Final (Loyalty) Addition. For example, with a sum assured of ₹5,00,000 and average bonus of ₹45 per ₹1,000 sum assured, total bonuses over 20 years would be ₹45 × 500 × 20 = ₹4,50,000. With a loyalty addition of ₹20 per ₹1,000, the total maturity would be approximately ₹5,00,000 + ₹4,50,000 + ₹10,000 = ₹9,60,000.

What is the minimum age to take a 20-year Jeevan Anand policy?

The minimum entry age for LIC Jeevan Anand 20-year policy is 18 years (completed). The maximum entry age is 50 years, and since the policy term is fixed at 20 years, the maximum age at maturity would be 70 years. The sum assured must be at least ₹1,00,000, and the premium must not exceed 10% of the sum assured for the policy to qualify for tax benefits under Section 80C and Section 10(10D).

What bonuses can I expect on a 20-year Jeevan Anand policy?

LIC Jeevan Anand offers Simple Reversionary Bonuses every year during the 20-year term. The bonus rate is declared annually by LIC and has historically ranged from ₹40 to ₹55 per ₹1,000 sum assured. Over 20 years, these bonuses accumulate significantly. For example, at ₹45 per ₹1,000 on a ₹10,00,000 policy, the annual bonus is ₹45,000, totaling ₹9,00,000 over 20 years. A Final Addition may also be paid at maturity, typically ₹15-₹25 per ₹1,000 sum assured.

What happens after maturity in Jeevan Anand 20-year plan?

After the 20-year term matures, you receive the sum assured plus all bonuses and loyalty addition. However, the life coverage continues for the basic sum assured (excluding bonuses) until you reach age 100 or die, whichever is earlier. This means your nominee will still receive the basic sum assured even if you die after maturity. No further premiums are required after the 20-year term. This whole life coverage after maturity is the key differentiator of Jeevan Anand.

Can I surrender my Jeevan Anand 20-year policy before maturity?

Yes, you can surrender your Jeevan Anand 20-year policy after paying at least 2 full years of premiums. The surrender value will be the higher of Guaranteed Surrender Value (GSV) and Special Surrender Value (SSV). After 5 years, you may receive approximately 45-60% of premiums paid as surrender value. After 10 years, it could be 60-75%. However, surrendering early means losing the bonus accumulation and the post-maturity life cover.

Is Jeevan Anand 20-year plan good for tax savings?

Yes, the Jeevan Anand 20-year plan is excellent for tax savings. Premiums qualify for deduction under Section 80C up to ₹1,50,000 per year. The maturity proceeds (sum assured + bonuses) are completely tax-free under Section 10(10D) of the Income Tax Act. Over a 20-year period, this provides significant tax-efficient returns. The combination of life cover, savings, and tax benefits makes this a popular choice for long-term financial planning.

How does Jeevan Anand 20-year compare to a 20-year bank FD?

A Jeevan Anand 20-year policy offers life insurance coverage along with returns, while a 20-year bank FD offers only interest with no insurance. Jeevan Anand returns (sum assured + bonuses) typically yield an IRR of 4-6%, while FDs may offer 5-7% depending on the rate cycle. However, Jeevan Anand offers tax-free maturity proceeds under Section 10(10D), while FD interest is fully taxable. For risk-averse individuals needing insurance, Jeevan Anand is often better.

Can I take a loan against my Jeevan Anand 20-year policy?

Yes, you can take a loan against your Jeevan Anand policy after it acquires surrender value, typically after 2-3 years. The loan amount is up to 85-90% of the surrender value. The interest rate is around 9-10% per annum. The loan does not affect the life coverage or bonus accumulation. This provides liquidity without having to break the policy, making it a useful emergency funding source.

What is the paid-up value for Jeevan Anand if I stop paying after 5 years?

If you stop paying premiums after 5 years (but the term is 20 years), the policy becomes paid-up. The reduced sum assured = (5/20) × Original SA + Accrued Bonuses. For a ₹5,00,000 policy, the reduced SA would be ₹1,25,000 plus bonuses accrued in the first 5 years. The policy continues with this reduced cover until maturity. At maturity, you receive the reduced SA plus bonuses. The post-maturity life cover will be for the reduced SA.

Who should buy Jeevan Anand 20-year policy?

The Jeevan Anand 20-year policy is ideal for individuals in their 20s to 40s who want life insurance coverage combined with a disciplined savings plan. It suits those who want whole life protection (since coverage continues after maturity) and are looking for safe, guaranteed returns with bonus potential. It is particularly good for young professionals planning for long-term financial goals like children's education or retirement, as the 20-year term aligns well with these milestones.

How to calculate Jeevan Anand 20-year surrender value online?

To calculate the surrender value of your Jeevan Anand 20-year policy online, enter the number of years premiums paid, the sum assured, and total premium paid into our surrender value calculator or use this calculator with the surrender mode. The GSV for a 20-year policy starts at 30% of premiums after 2 years and increases by 5% each year up to 70% after 10 years. The SSV depends on paid-up value and surrender value factor.

What is the death benefit under Jeevan Anand 20-year plan?

The death benefit under Jeevan Anand 20-year plan is the sum assured plus all accrued Simple Reversionary Bonuses. If death occurs during the 20-year term, the nominee receives the full sum assured plus bonuses accumulated up to the date of death. This ensures that the family receives a substantial amount even if the policyholder dies early in the term. After maturity, the death benefit is only the basic sum assured (no bonuses).