How to Use This Calculator? (Step-by-Step Guide)

To generate a realistic illustration of your policy's Net Realizable Value, you must provide the financial engine with precise baseline parameters. A minor discrepancy in your commencement date or entry age can significantly alter the estimated actuarial outcomes. Follow these standardized steps to map your fiscal journey:

• Step 1 (Dates): Enter your exact Date of Birth (DOB) and the Date of Commencement (DOC) precisely as they are printed on your official policy bond. The calculation algorithm strictly caps the maximum allowable DOC at December 31, 2013. This is because the Life Insurance Corporation of India officially withdrew Table 149 from the market on this specific date, replacing it with newer iterations. The system will auto-calculate your entry age to ensure it falls within the permissible 18 to 65 years bracket.
• Step 2 (Policy Details): Select your designated Policy Term from the interactive dropdown menu, which accommodates premium paying terms ranging from 5 up to 57 years. Next, input your Basic Sum Assured. Ensure that this principal amount meets the regulatory minimum threshold of . The accuracy of this base figure is critical, as it anchors all subsequent bonus and maturity multiplier calculations.
• Step 3 (Premium): Choose your active premium payment mode: Yearly, Half-Yearly, Quarterly, or Monthly. Selecting an annual or semi-annual mode is highly capital-efficient, as the algorithm mathematically applies LIC’s official 3% tabular rebate for Yearly payments and 1.5% rebate for Half-Yearly payments, thereby optimizing your overall portfolio yield and reducing your annualized capital outlay.
• Step 4 (Death Claim Toggle): To estimate a comprehensive death payout for a specific timeline, select 'Yes' under the Death Claim option. You must then input a hypothetical date of death. This function activates the engine's dual-phase actuarial logic to evaluate the exact liability of the insurer on that precise date, calculating whether the claim falls within the active premium paying term or the post-maturity whole life phase.
• Step 5 (Execute): Click 'Calculate Benefits' to command the engine to process your variables. Your customized financial results will be neatly categorized into three distinct, easily navigable tabs: Premium Details, Maturity Benefit (your expected living corpus), and Death Claim (your legacy payout).

LIC Jeevan Anand 149 Calculator

Decoding the Financial Glossary (Understand Your Estimates)

A diligent policyholder must be capable of accurately interpreting the financial terminology populating their results dashboard. Our analytical engine categorizes your wealth accumulation into guaranteed provisions and projected mathematical variables.

To further elaborate on your portfolio's architecture, the Vested Bonus represents your hard, accumulated wealth. Because LIC is a sovereign-backed entity, any Simple Reversionary Bonus declared historically is irrevocably attached to your policy ledger. In contrast, the Projected Bonus utilizes forward-looking algorithms that mirror the latest declared rates, applying them to the remaining years of your policy term.

Similarly, the Final Additional Bonus (FAB) serves as a massive capital injection at the terminal end of your policy. Because FAB rates are strictly tied to the exact duration the policy has been in force, our estimator leverages the most current declared FAB schedules to forecast this lump-sum addition. However, it is imperative to acknowledge that if macroeconomic conditions shift, the actual FAB disbursed at the time of your claim may vary.

The Death Claim Mathematics: During vs. After Policy Term

The most sophisticated architectural feature of this analytical tool is its dual-phase death claim logic. The financial exposure for the insurer—and consequently the payout to your nominee—shifts dramatically depending on when the mortality event occurs relative to the maturity date. You must rigorously assess these two distinct phases to understand your family's financial safety net.

Death Claim Comparison in Jeevan Anand 149

Is Your Policy Maturing? Check the 2024 Claim Rules

Is your Plan 149 reaching the end of its term? You must align your financial actions with the latest regulatory mandates to prevent a liquidity bottleneck. You must be aware of the latest July 2024 LIC Circular. Under the new "Ease of Claim Settlement Process", the regulatory authority has significantly streamlined capital realization for policyholders.

You may no longer need to submit your original physical Policy Bond or Discharge Voucher to receive your survival benefit, provided your registered bank account is strictly NPCI verified. This fast-track digital compliance applies seamlessly to high-value policies, ensuring your funds are repatriated into your account without archaic branch delays. For policies valued below , physical documents are waived even without NPCI verification, given no outstanding loans exist against the asset.

Want to know the step-by-step process to claim your money effortlessly? Read our comprehensive here.

Conclusion

A sound financial portfolio requires realistic estimations and consistent auditing. By leveraging this sophisticated estimator, you can mathematically track your Jeevan Anand 149 policy’s estimated growth, ensuring you are adequately prepared for both your living financial milestones and your posthumous estate transfer. Bookmark this tool to monitor your risk-adjusted return year on year. Share this page with fellow policyholders so they can understand the true underlying value of their lifelong risk cover.

If you detect a shortfall in your projected wealth or wish to construct a new capital-efficient insurance portfolio, Find a certified LIC Agent today to secure highly authoritative, personalized advisory services.

The Core Logic: How LIC Jeevan Anand 149 Works

Understanding your policy structure is the first step toward securing your wealth. The plan operates on a dual-benefit framework designed to provide both a living benefit and a legacy benefit.

When you survive to the end of the stipulated premium paying term, you receive a Survival Benefit. This maturity corpus includes your pre-decided Sum Assured along with any vested Simple Reversionary Bonus. A Final Additional Bonus may also be payable.

However, the critical advantage is that the policy does not end here. After the premium paying term, an estate equal to the basic Sum Assured is automatically created. This acts as a Whole Life cover that remains active until the death of the Life Assured, without requiring you to pay any further premiums.

2024 Update: Hassle-Free Survival Benefit (SB) Claims

Managing your Indian assets should not be a bureaucratic nightmare. To provide hassle-free services, the CRM/Claims/Annuities Department issued a monumental update via Circular Ref: CO/CRM/Claims/2023-24/309 dated 9th July 2024.

The life insurance regulator and LIC have decided to dispense with the physical Policy Bond and Discharge Voucher for settling Survival Benefit claims payable at the end of the premium paying term. This means your funds can hit your account faster, provided you meet specific criteria.

Surrender Rules & Guaranteed Surrender Value (GSV) Calculation

While the features of Table 149 are robust, life is unpredictable, and you may face a liquidity crisis. Before you decide to exit, it is vital to master the surrender value calculation to understand the potential capital destruction.

You are legally permitted to surrender this policy for cash only after the premiums have been paid for at least 3 full years. However, keep in mind that no Guaranteed Surrender Value (GSV) is payable after the Survival Benefit is paid at the end of the premium paying term.

Let us decode the mathematical logic. Suppose Mr. Sharma purchased a policy with an annual premium of . Over 10 years, he deposits . If he surrenders at year 10, the GSV applies to 9 years of basic premiums (excluding the first year). The calculation is 30% of , which equals a mere , plus the cash value of any vested bonus. Surrendering early guarantees a severe financial loss. In practice, LIC may pay a Special Surrender Value (SSV) if it is higher than the GSV.

If you are forced to surrender, the Corporation calculates a highly complex Special Surrender Value (SSV) that combines two components. First, the paid-up value is determined. Second, an SSV for the endowment assurance is calculated by multiplying the paid-up value by an SSV factor. Third, a separate SSV for the deferred whole life component is derived. These elements are combined to form your Net SSV. This ensures you get a fair valuation, but it still represents a loss compared to holding the asset to maturity.

The Honest Review: Pros & Cons of Holding Plan 149

Every financial asset must be evaluated for its current market relevance. Here is the objective breakdown of holding Table 149 in today's economy.

Decision Matrix & JBB Premium Calculator

The ultimate question is: Should you surrender this policy? The Final Verdict is absolute: No one should surrender this policy unless facing extreme, unavoidable financial distress. The capital erosion is simply too high, and you permanently forfeit the free Whole Life cover.

Do you want to calculate the exact Maturity Value or Surrender Loss of your Jeevan Anand 149 policy? Use our JBB Premium & Maturity Calculator now to make an informed, data-backed financial decision.

Digital Compliance: Official LIC e-Services Verification

To qualify for the 2024 hassle-free Survival Benefit claim without physical document submission, your bank account must be strictly NPCI-verified. High-Net-Worth individuals and NRIs managing assets remotely are advised to update their NEFT mandates and verify their policy status securely through the official Life Insurance Corporation of India (LIC) digital dashboard. Always use the official portal to mitigate phishing risks.

Regulatory Validation: Official Document

To verify the terms and conditions of 'Death Claim', 'Accidental Benefit' and life insurance coverage after maturity for LIC Jeevan Anand (Table 149), you can read the official Sales Brochure issued by Life Insurance Corporation of India (LIC of India). This document clearly explains the policy benefits (Benefits in case of death).

⚠️ Urgent Investor Advisory:

According to LIC Circular 309 (July 2024), your bank account must be NPCI Verified for a seamless, voucher-free claim settlement. To prevent financial fraud, never share your OTPs and update your bank mandates only through the official LIC customer portal or directly at the branch.

FAQ: Frequently Asked Questions

Conclusion & Next Steps

The Final Verdict: The LIC Jeevan Anand Table 149 is a top-tier asset that blends secure maturity yields with a perpetual legacy for your family. By leveraging the updated 2024 regulatory mandates, claiming your corpus has never been more capital-efficient and straightforward. Protect your active policies, ensure your banking compliance is up to standard, and let the Whole Life estate protect your next generation.

Since this plan is permanently closed, if you are looking to purchase the New Jeevan Anand or a high-cover Term Plan, connect with a certified LIC agent today.

Why is LIC Table 2 Special? (Small Investment, Big Legacy)

The Whole Life Plan (Table No. 2) is designed with a singular philosophy: Financial protection against death throughout the lifetime of the Life Assured. Unlike modern Endowment plans that mature after 15 or 20 years, leaving you uninsured in your old age, Table 2 promises to stay with you until the very end.

JBB Analysis of the "Low Premium" Advantage:

The most striking feature of this plan is its cost structure. Because the risk is spread over a lifetime, the annual premiums are significantly lower compared to other plans.

• The Asset Class: This is a "With-Profit" plan.
• The Benefit: It participates in the profits of the Corporation's life insurance business, receiving a share in the form of Simple Reversionary Bonuses declared annually.
• The Guarantee: Once these bonuses are declared, they form part of the guaranteed benefits of the plan.

For existing holders, this means your accumulated bonuses over the decades likely exceed your Sum Assured, creating a substantial tax-free corpus.

The Truth About Premium Payment (35 Years or Age 80?)

A common confusion among Table 2 policyholders is the duration of premium payments. Many believe they have to pay "forever," which leads to frustration and lapses. Let’s clarify the official rule.

The Payment Rule: Premiums are not payable for life. According to the policy terms, premiums are payable for a period of 35 years OR up to age 80 years, whichever is later.

Can You Get Money in Old Age? (The Age 80 Cash-Out Rule)

Technically, a Whole Life policy does not have a maturity date. It is designed to pay the claim to your nominee upon death. However, Jeevan Bima Bazaar highlights a crucial "Exit Clause" that acts as a shadow maturity benefit.

The 40/80 Rule: You have the option to take the Sum Assured plus all bonuses declared under the policy if you meet two specific conditions:

• The policy has run for at least 40 years from the date of commencement.
• You have attained at least 80 years of age.

What This Means for You:

If you live a long, healthy life, you are not forced to leave the money only for your heirs. At age 80, you can choose to "Cash Out" the entire corpus to fund your medical needs, retirement comfort, or to gift it to your grandchildren while you are still alive. This flexibility makes Table 2 a unique hybrid of protection and pension.

How is the Death Benefit Calculated?

The primary purpose of Table 2 is family protection. In the unfortunate event of the life assured's death, the payout is substantial.

The Payout Structure:

The Death Benefit payable in a lump sum includes:

• The Basic Sum Assured; PLUS
• All Vested Bonuses accrued to date; PLUS
• Final (Additional) Bonus (if the policy has run for a certain minimum period).

This structure ensures that the insurance cover grows every year. Even if the Sum Assured was small (e.g., ₹50,000) when bought in the 1990s, the accumulated bonuses significantly inflate the final claim amount in .

Why Surrendering is a Mathematical Loss

If you are thinking, "The premium term is too long, I should close it," please read this carefully. Surrendering a vintage Table 2 policy is often a financial loss.

The Surrender Formula:

• Eligibility: You can surrender only after the policy has been in force for 3 years or more.
• Guaranteed Surrender Value (GSV): The GSV is strictly 30% of the basic premiums paid, excluding the first year's premium.

Illustration: Returns on a Policy

Let’s look at the official numbers to understand the ROI (Return on Investment).

This is the original sales brochure issued by LIC for Table 2. It serves as the official proof for the 'Age 80' withdrawal clause and the premium payment terms.

Key Verifications Inside:

• Premium Term: Payable for 35 years or up to Age 80.
• Cash-out Rule: The option to withdraw Sum Assured + Bonus after 40 years/Age 80.
• Surrender Value: The 30% calculation rule.

Table 2 vs. Modern Term Insurance: Which Wins?

Many advisors suggest surrendering old policies to buy Term Insurance. While valid for young people, this is often bad advice for existing Table 2 holders. Here is why:

What if You Stop Paying Premiums? (Paid-up Value)

If you are unable to continue the premiums, do not surrender. Let the policy become "Paid-up."

• Condition: If premiums have been paid for at least 3 years, the policy does not lapse completely.
• Effect: The Sum Assured is reduced proportionately.
• Bonus: The bonuses attached to the policy before the date of default remain attached.
• Benefit: The reduced Sum Assured + Vested Bonuses will still be payable at death or at age 80. This preserves your past investment without requiring future payments.

FAQ: Frequently Asked Questions

Conclusion:

LIC Table 2 is a "Financial Heirloom." Its low premium structure combined with the option to cash out at age 80 makes it a unique asset that cannot be replicated in today's market. Instead of surrendering, consider making it "Paid-up" or holding it to maturity to reap the full benefits of compounding. Stay tuned to Jeevan Bima Bazaar for unbiased financial insights.

Next: Access the Master List of all LIC Discontinued Plans.

What Makes LIC Table 5 Unique?

The Whole Life Plan (Limited Payment), also known as Table No. 5, is a distinct product in the LIC portfolio. Unlike standard endowment plans where the coverage ends the moment you stop paying premiums or reach maturity, Table 5 offers a unique leverage: You pay for a short time, but the cover lasts forever.

JBB Analysis of the Structure:

• The Core Promise: This is a whole of life assurance plan that provides financial protection against death throughout the lifetime of the Life Assured.
• The Payment Logic: Premiums are payable only for a selected period (e.g., 10, 15, 20 years) or until earlier death.

This structure creates immense financial leverage. For example, you might have paid premiums from age 30 to 45. Even though your payments stopped decades ago, LIC remains liable to pay the Sum Assured plus Bonuses whenever the claim arises.

Does Table 5 Have a Maturity Date?

Technically, a Whole Life policy is designed to pay out only upon the death of the policyholder. It does not have a standard maturity date like an Endowment plan.

However, Jeevan Bima Bazaar (JBB) wants to draw your attention to a critical "Exit Clause" hidden in the fine print, often overlooked by policyholders.

The "Age 80" Cash-Out Option:

You have the option to voluntarily terminate the policy and take the full claim amount (Sum Assured + All Vested Bonuses) if you meet two specific conditions:

• The policy has run for at least 40 years from the date of commencement.
• You have attained at least 80 years of age.

This clause effectively converts your Whole Life plan into an Endowment plan that matures at age 80. For seniors looking for liquidity to fund medical expenses or distribute inheritance while alive, this option is a game-changer.

What Happens If You Stop Paying Premiums? (The Paid-up Rule)

One of the most common concerns we receive at JBB is: "I stopped paying premiums 15 years ago. Is my money lost?"

The answer is likely No. If you paid premiums for at least 3 full years, your policy did not lapse; it likely acquired a "Paid-up Value".

Can You Take a Loan on Table 5?

Yes. Liquidity is a key feature of traditional LIC plans. Since Table 5 acquires a surrender value after 3 years, it is eligible for a policy loan.

Can You Surrender the Policy Before Maturity?

If you are considering closing the policy permanently for immediate cash, you must understand the Surrender Value calculation to avoid a shock.

What Returns Can You Expect? (Real-Life Illustration)

To understand the wealth-building potential of Table 5, let us analyse the official benefit illustration provided by LIC.

LIC Table 5 (Whole Life) Brochure – PDF Download

This is the original sales brochure issued by LIC for Table 5 (Limited Payment). If you need to verify the 'Age 80 Cash-out' clause or the 30% Surrender Value rule, this document is the ultimate proof.

Key Validations Inside:

• Surrender: 30% of premiums after 3 years.
• The Option: Clause allowing withdrawal after 40 years/Age 80.
• Illustration: Official projection of returns.

Whole Life vs. Term Insurance: Why Hold This Legacy Asset?

In the current financial landscape, advisors often recommend "Term Insurance + Mutual Funds." While that strategy works for new investors, surrendering a vintage LIC Table 5 to buy a Term Plan is often a mathematical mistake. Here is why holding your legacy policy is superior in your specific context:

The JBB Verdict:

Term insurance is excellent for income replacement during working years. However, Table 5 is for "Legacy Creation." It guarantees that no matter when you pass away, you leave behind a significant, tax-free check for your loved ones. Surrendering a "Whole Life" plan to buy a "Term Plan" at age 50+ is usually expensive and counter-productive because the mortality charges in new Term Plans will be very high.

FAQ: Frequently Asked Questions

Conclusion:

LIC Table 5 is a testament to the power of long-term patience. Whether you choose to cash out at 80 using the special clause or leave a substantial tax-free legacy for your heirs, this plan is a financial gem. Before making any hasty decision to surrender, verify your accumulated bonus status. This guide is part of our 'LIC Legacy Plans Directory'.

Next: We explore another vintage classic from the LIC archives. Click the Next button below to continue your journey.