Jeevan Anand Policy – How can I increase the Term period

POSTED BY Sakthi Manoj ON August 3, 2013 3:23 pm COMMENTS (4)

Dear Mr. Shashank Kashettiwar 

I have a taken Jeevan Anand Policy in 2007 Aug, for a sum assured value of Rs.5,00,000 for a term of 18 years. My DOB is 18-Sep-1985. I am paying the half yearly premium for this policy which is Rs.15,163 half yearly. I later understand that if I could have taken the policy term as 21 years instead of 18 years, I would have got higher return in terms of bonus as LIC has higher bonus for this policy with term greater than 20. In my case how much will I will be getting if my tenure was 21 years instead of 18 years. Is there any chance, I can revise the tenure to 21 years now. Also If I am surrendering the policy now what shall be the amount I shall be getting on hand. Until today my vested bonus is RS.1,04,500 and I have paid 12 premiums. Please advise me accordingly.


Sakthi Manoj

4 replies on this article “Jeevan Anand Policy – How can I increase the Term period”

  1. Ramkumar G says:

    Dear Sakthi,
    Please refrain from Jeevan Anand. Jeevan Anand won’t give any FAB (Final Additional Bonus). I have verified the bonus rates of LIC for the past 10 years and they deliberately don’t make FAB on Jeevan Anand and they have compelling reasons for it.
    1. It provides a lifetime risk cover. Suppose you are 30 years of age and have a sum assured of 10L for 40 years from now. You will get the maturity amount when you are 70 years and still you get a risk cover of 10L for the rest of your life. This is the only policy to have such a feature. The trick is that LIC won’t pay FAB which is about 35.5L (3550*1000) and instead provides you with a risk cover of 10L free of cost (but from your deserved FAB).
    2. Majority of the LIC policies are Jeevan Anand and so if it would provide FAB for this, the profit of LIC would be significantly affected .

  2. Dear Sakthi, to know your exact Surrender value, please contact your LIC office.



  3. Dear Sakthi, as you have already paid just 6 yly Prem. (12 * 1/2 yly), it’s advisable to either make this policy paid up or surrender. This policy ‘ll not provide you any meaningful return in the long run.



    1. Sakthi Manoj says:

      Dear Sir,

      Thanks for your reply.

      Instead of paid up, If I am surrendering my policy how much amount I shall be getting.

      Till date my vested bonus is 104500 and I have paid 12 Premiums, 15163 RS Each.

      Appreciate your thoughts in this .

      Sakthi Manoj

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