LIC Jeevan Anand Plan 149 Calculator
Calculate Your Premium, Maturity Benefits & Death Benefits
📋 Plan Information
Plan Name: LIC Jeevan Anand (Whole Life Plan)
Table Number: 149
Launch Date: January 16, 2002
Withdrawal Date: January 15, 2014 (Replaced by New Jeevan Anand - Plan 815)
Plan Type: Combination of Endowment Assurance & Whole Life Plan
Calculate Your Benefits
Your Calculation Results
💰 Annual Premium (Yearly Mode)
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📅 Premium for Selected Mode
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💵 Total Premium Paid
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🎁 Maturity Benefit (At End of Policy Term)
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🛡️ Death Benefit (During Policy Term)
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⚡ Death Benefit (After Maturity - Lifelong)
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🔢 Accumulated Bonus
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🌟 Key Features of LIC Jeevan Anand Plan 149
- Whole Life Coverage: Sum Assured continues as life cover even after maturity until age 100 or death
- Maturity Benefit: Sum Assured + Accumulated Bonuses + Final Additional Bonus (if any)
- Death Benefit During Term: Sum Assured + Accumulated Bonuses + Final Additional Bonus (if any)
- Death Benefit After Maturity: Basic Sum Assured payable to nominee
- Double Accident Benefit (DAB): Inbuilt - Maximum ₹5 lakhs or Sum Assured (whichever is less)
- Extended Permanent Disability Benefit (EPDB): Available up to age 70
- Loan Facility: Available after 3 years of premium payment
- Surrender Value: Available after 3 years of premium payment
LIC’s Jeevan Anand Plan 149 is one of the most popular life insurance plans in India, known for its combination of savings and protection. To make informed decisions about this policy, many policyholders and prospective buyers use online calculators to estimate their maturity and death benefits.
Introduction to LIC Jeevan Anand Plan 149
LIC’s Jeevan Anand Plan 149 is a participating, non-linked, endowment with whole-life coverage that offers benefits both at the time of maturity and in case of death during the policy term. It was launched by LIC of India on January 17, 2002, and is one of their most successful policies. The plan is designed to provide a maturity amount to the policyholder and a death benefit to beneficiaries if the policyholder dies before maturity.
Important dates:
- Launch date: January 17, 2002
- Withdrawn date: LIC announced the withdrawal of Plan 149 effective October 1, 2024
The plan is popular among individuals seeking long-term savings with life protection, as it ensures a lump sum payout at maturity and protection till life’s end.
How the LIC Jeevan Anand 149 Calculator Works
The calculator serves as a financial tool to estimate how much money a policyholder will receive at the end of the policy or in case of their demise. It simplifies the planning process by giving a near-accurate projection based on current bonus rates declared by LIC.
Components Used in the Calculation
- Sum Assured (SA): The amount agreed upon at the policy purchase.
- Bonus Rates: Declared annually by LIC, based on the company’s profits and performance. Bonuses are estimated per ₹1,000 of the sum assured.
- Policy Term: Duration over which premiums are paid.
- Final Additional Bonus (FAB): A one-time bonus paid at maturity, applicable in policies with longer durations.
Basic Formula
The approximate maturity amount is calculated as:
Maturity Amount = Sum Assured + (Bonus Rate × SA/1000 × Policy Term) + FAB
For example, if:
- Sum Assured = ₹5,00,000
- Policy Term = 20 years
- Bonus Rate = ₹48 per ₹1,000 SA
- FAB = ₹20,000
Then:
Bonus = (500000 / 1000) × 48 × 20 = ₹4,80,000
Total Maturity = 500,000 + 480,000 + 20,000 = ₹10,00,000
Benefits of Using the Calculator
- Financial prediction: Helps plan your savings and investment goals.
- Comparison: View how LIC’s plan stacks up against other policies.
- Decision making: Decide whether to buy or continue the policy.
- Transparency: Provides an estimate based on current bonus rates and policy parameters.
Key Features of LIC Jeevan Anand Plan 149
| Feature | Description |
|---|---|
| Policy Type | Endowment with Whole Life Cover |
| Premium Payment Term | 5 to 35 years (can vary based on policy) |
| Sum Assured | Starting at Rs. 1 lakh, in multiples of Rs. 5000 |
| Maturity Benefit | Sum Assured + Bonuses + FAB |
| Death Benefit | Sum Assured + Bonuses (if death occurs during or after the term) |
| Bonus Type | Reversionary bonus + Final Additional Bonus |
| Loan & Surrender | Available after 3 years of policy payment |
The plan covers individuals from age 18 to 50 and offers a flexible premium-paying period which varies from 5 years to 35 years, with maturity benefits payable up to age 99+.
How to Use the LIC Jeevan Anand 149 Calculator
Here’s a step-by-step guide:
- Enter your Sum Assured (e.g., Rs. 1 lakh).
- Enter your policy term (e.g., 20 years).
- Enter the current bonus rate for LIC plans (e.g., Rs. 48 per Rs. 1000).
- Enter Final Additional Bonus (FAB) if applicable (e.g., Rs. 20,000).
Finally, click “Calculate” to see the estimated maturity amount. This helps you understand how your investments may grow over time, considering bonus declarations.
Benefits of the LIC Jeevan Anand Plan 149 Calculator
Using the calculator provides several advantages:
- Effective financial planning: Understand future payout estimates and plan your investments accordingly.
- Informed choices: Decide whether to continue paying premiums or withdraw.
- Policy comparison: Compare expected returns against other LIC policies or private plans.
- Fast results: Get instant estimations by inputting minimal details.
- Enhanced transparency: You see projected figures based on the latest bonus rates, not assumptions.
Frequently Asked Questions
What is LIC Jeevan Anand Plan 149?
LIC Jeevan Anand Plan 149 is a participating, non-linked, endowment life insurance plan combining savings and life cover, offering maturity and death benefits.
When was LIC Jeevan Anand Plan 149 launched?
The plan was launched on January 17, 2002.
Is LIC Jeevan Anand Plan 149 still available for purchase?
No, LIC withdrew Plan 149 from sale effective January 15, 2014.
What is the maturity benefit under this plan?
The maturity benefit includes the sum assured, accrued bonuses, and a final additional bonus if applicable.
What happens if the policyholder dies during the policy term?
In case of death, the nominee receives the sum assured plus bonuses irrespective of policy term completion.
How is the premium determined for Jeevan Anand Plan 149?
Premium depends on the sum assured, the policy term, and the age of the policyholder at entry.
Conclusion
LIC’s Jeevan Anand Plan 149 remains a popular choice for those seeking long-term savings with life coverage. Its calculator helps users estimate their future benefits, fostering transparency and confidence in financial planning.
By understanding how the calculator works and what factors influence the maturity benefits, policyholders can make better-informed decisions tailored to their financial goals. Remember to review your bonus rates annually and update your estimations to maintain accurate insights into your policy’s worth.