LIC Jeevan Anand vs Jeevan Labh

“Jeevan Anand lena chahiye ya Jeevan Labh?” is one of the questions we hear most often at the LIC office in Manimajra. Both are trusted, bonus-based endowment plans from LIC of India: the family is covered during the policy, and on maturity you receive the basic sum assured plus bonuses. The difference lies in how long you pay and what happens after maturity. This page explains both plans side by side so you can decide calmly.

The two plans in one line each

• LIC New Jeevan Anand (Plan 715) – pay premiums for the full term, get maturity with bonuses, and your life cover continues even after maturity without any further premium.
• LIC Jeevan Labh (Plan 736) – pay premiums for a shorter period (10, 15 or 16 years), stay covered for the full term, and get maturity with bonuses.

Side-by-side comparison

Plan details are summarised from LIC’s sales brochures for the current versions of these plans. Always check the latest brochure and your own benefit illustration before you buy.

How Jeevan Anand works

You choose a sum assured and a policy term between 15 and 35 years and pay premiums every year (or half-yearly, quarterly or monthly) for the whole term. If something happens to the life assured during the term, the nominee receives the death benefit along with the bonuses added so far. If the life assured survives the term, LIC pays the basic sum assured plus vested simple reversionary bonuses and the final additional bonus, if any.

What makes Jeevan Anand special is the second benefit: after maturity, a life cover equal to the basic sum assured continues for the rest of life, and you do not pay anything more for it. So you get money back for your own goals and still leave a fixed amount for your family later. This is why many parents and grandparents in Chandigarh like the plan as a “legacy” policy.

How Jeevan Labh works

Jeevan Labh is built for people who want to finish paying early. You choose one of three combinations:

• Policy term 16 years – pay premiums for 10 years
• Policy term 21 years – pay premiums for 15 years
• Policy term 25 years – pay premiums for 16 years

The family is covered for the full term, including the years after you stop paying. On maturity you get the basic sum assured plus bonuses as one lump sum. Because entry is allowed from age 8, parents often take Jeevan Labh on a child’s life to build money for higher studies or marriage, and working people use it to finish premiums well before retirement. To see shorter options, read best LIC plan for 10 years.

Which one should you choose?

• You want to stop paying premiums soon (for example, before retirement or before a child’s college years): Jeevan Labh.
• You want a maturity amount and also life cover for the rest of life: Jeevan Anand.
• You are buying for a child below 18: Jeevan Labh, because Jeevan Anand starts at 18.
• Your income is steady and you prefer a smaller yearly premium over a longer period: Jeevan Anand usually spreads the cost over more years.
• Your family depends on your income: whichever you choose, add a term plan such as New Tech-Term for high cover – an endowment plan alone rarely gives enough protection.

There is no fixed “better” plan. The right choice depends on your age, how many years you can comfortably pay, and whether you want cover after maturity. Never stretch your budget: a policy that lapses midway loses much of its value.

A simple way to compare for your age

Premiums and maturity values depend on age, term, sum assured and future bonus rates, so we do not publish estimated figures here. Instead, ask for LIC’s official benefit illustration for both plans with the same sum assured. Look at three things: the total premium you will pay, the year you stop paying, and the maturity and death benefit at different bonus scenarios. You can also try our LIC maturity calculator for a rough idea before you call.

Buy with the LIC office, Manimajra

Vedpal Singh, Development Officer, LIC of India, and our team compare Jeevan Anand and Jeevan Labh for your age, send both official illustrations on WhatsApp and complete the proposal – at your home in Chandigarh, Mohali, Panchkula and Zirakpur, and online for every other city. Find the LIC office near you or read these plans in Hindi: न्यू जीवन आनंद and जीवन लाभ.

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