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Choosing the Right LIC Policy: Jeevan Utsav vs Jeevan Labh vs Jeevan Anand


In every kutumba, there comes a moment when we pause and ask: What legacy am I building? Whether it’s for our children’s future, our parents’ comfort, or our own peace of mind, choosing the right life insurance policy is more than a financial decision—it’s a reflection of our values.

Let’s explore three LIC policies that offer distinct paths to protection and prosperity: Jeevan Utsav, Jeevan Labh, and Jeevan Anand.

🧾 Policy Overview

Feature

Jeevan Utsav (Plan 871) 

Jeevan Labh (Plan 936) 

Jeevan Anand (Plan 915)

Plan Type

Whole Life, Non-Linked, Non-Participating

Endowment, Limited Premium, Participating

Endowment + Whole Life Cover, Participating

Premium Paying Term

5 to 16 years

10, 15, or 16 years

15 to 35 years

Policy Term

Whole life

16, 21, or 25 years

Chosen term + lifetime cover

Survival Benefit

10% of Sum Assured annually (after PPT)

Lump sum at maturity + bonuses

Lump sum at maturity + life long death cover

Bonus Participation

No

Yes

Yes

Guaranteed Additions

₹40 per ₹1,000 SA/year during PPT

No

No

Flexi Income Option

Yes (5.5% interest)

No

No

Tax Benefits

80C, 10(10D), Flexi income tax-free

80C, 10(10D)

80C, 10(10D)

💰 ₹1 Lakh Example – Regular Income vs Maturity Bonus

Let’s say you choose a ₹1,00,000 Basic Sum Assured. Here’s how each policy performs:

🔸 Jeevan Utsav

  • Premium: ~₹6,100/year × 16 years = ₹97,600
  • Guaranteed Additions: ₹10,240 over 16 years
  • Survival Benefit: ₹10,000/year for life after PPT
  • Death Benefit: ₹1,10,240 minimum
  • Best For: Lifelong income, retirement planning, legacy building

🔸 Jeevan Labh

  • Premium: ~₹4,500/year × 16 years = ₹72,000
  • Maturity Benefit: ₹1,00,000 + bonuses (~₹40–60K)
  • Death Benefit: SA + bonuses
  • Best For: Lump sum goals like education, marriage, or home purchase

🔸 Jeevan Anand

  • Premium: ~₹4,800/year × 20 years = ₹96,000
  • Maturity Benefit: ₹1,00,000 + bonuses (~₹40–60K)
  • Post-Maturity Cover: Continues lifelong
  • Best For: Dual benefit—maturity payout + lifelong protection

🧠 Which Policy Suits Whom?

  • For Amma (Cardiac & Diabetic): Jeevan Utsav offers short premium term and lifelong income—ideal for post-retirement peace.
  • For Siri & Sindhu (Daughters): Jeevan Labh helps build a corpus for education or marriage.
  • For Yourself: Jeevan Anand ensures maturity benefit and continued protection—perfect for a family pillar like you.

🛡️ Common Features Across All Three

  • ✅ Loan facility after 1–2 years
  • ✅ Tax benefits under Section 80C and 10(10D)
  • ✅ Optional riders for accident, critical illness, and premium waiver
  • ✅ Grace period for missed premiums (15–30 days)

🧣 Final Thought: Insurance as Legacy

In our kutumba, insurance isn’t just about numbers—it’s about nurturing continuity. Whether it’s Amma’s comfort, Siri’s dreams, or your own quiet strength, the right LIC policy becomes a living blessing.

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