Small daily savings can accumulate into a meaningful amount over several decades. This idea is frequently used to promote traditional insurance plans, including LIC’s New Jeevan Anand. One widely circulated claim suggests that setting aside approximately ₹45 per day could eventually produce a maturity amount of ₹25 lakh.

The figure may sound attractive, but it should not be treated as a guaranteed outcome. The premium and maturity value of an insurance policy depend on the buyer’s age, selected sum assured, policy term, premium-payment frequency and bonuses declared in the future.

Before purchasing the policy, customers should obtain an official benefit illustration showing both guaranteed and non-guaranteed benefits.

What Is LIC New Jeevan Anand?

LIC’s New Jeevan Anand is a participating, non-linked individual life insurance savings plan. It combines long-term savings with life insurance protection.

“Non-linked” means the policy’s benefits are not directly connected to the performance of equity or debt market funds. “Participating” means the policy may share in the profits of LIC through bonuses declared under the applicable conditions.

If the policyholder survives until the end of the selected term and the policy remains in force, the maturity benefit becomes payable. The plan also provides a death benefit during the policy term. One of its distinguishing features is the continuation of life cover after maturity, subject to the policy terms.

The current version is identified by LIC as New Jeevan Anand Plan No. 715, UIN 512N279V03. Buyers should verify the plan number and UIN because earlier versions may have different conditions.

How Much Does ₹45 Per Day Add Up To?

Saving ₹45 a day produces the following approximate amounts:

These calculations only show how much money would be set aside. They do not establish the premium for a specific LIC policy or prove that the maturity value will be ₹25 lakh.

Insurance premiums are not calculated simply by multiplying a daily saving amount by the number of days. LIC determines the premium using factors such as entry age, Basic Sum Assured, policy term, payment mode, underwriting requirements, taxes and any riders selected.

Can ₹45 a Day Really Become ₹25 Lakh?

There is no universal answer because ₹45 per day is not an official, fixed premium applicable to every buyer. Similarly, ₹25 lakh cannot be presented as a guaranteed maturity amount without a policy-specific calculation.

The maturity benefit under LIC New Jeevan Anand consists of the Basic Sum Assured along with vested Simple Reversionary Bonuses and a Final Additional Bonus, if any.

The Basic Sum Assured is selected when the policy is purchased. Bonuses, however, depend on LIC’s future declarations and are not known for the entire term in advance. A projection based on assumed future bonus rates is therefore only an illustration.

The claim may be based on a young buyer choosing a long policy term and receiving bonuses over several decades. Change the buyer’s age, term, sum assured or future bonus assumptions, and the outcome may be significantly different.

Anyone shown a ₹25 lakh projection should ask for a written benefit illustration containing:

• The exact annual or monthly premium
• Applicable taxes
• Basic Sum Assured
• Policy and premium-payment terms
• Guaranteed maturity benefit
• Projected non-guaranteed benefits
• Total premiums payable
• Death benefits during and after the policy term
• Assumptions used to calculate the illustration

Without these details, the ₹45-a-day claim is incomplete.

What Is Payable When the Policy Matures?

According to the official LIC brochure, a policyholder who survives until the maturity date may receive the Sum Assured on Maturity, provided the policy is in force and all required premiums have been paid.

For this plan, the Sum Assured on Maturity is equal to the Basic Sum Assured. Vested Simple Reversionary Bonuses and a Final Additional Bonus, if declared and applicable, may be added.

This means the maturity proceeds have guaranteed and non-guaranteed components. The Basic Sum Assured is defined at the beginning, while future bonus additions cannot be assumed with certainty.

The detailed benefit structure is available in the official LIC New Jeevan Anand brochure.

How Does the Death Benefit Work?

If the insured person dies during the policy term while the policy is in force, the nominee receives the applicable Sum Assured on Death along with vested Simple Reversionary Bonuses and a Final Additional Bonus, if any.

LIC defines the Sum Assured on Death under the current plan as the higher of:

• 125% of the Basic Sum Assured, or
• Seven times the annualised premium

The official terms also state that the death benefit during the policy term will not be less than 105% of total premiums paid up to the date of death, subject to the policy definitions and exclusions.

The annualised premium used for this calculation excludes taxes, rider premiums, underwriting extras and modal loadings.

Does Life Cover Continue After Maturity?

Yes, this is one of the policy’s notable features. After LIC pays the maturity benefit, life cover linked to the Basic Sum Assured can continue for the policyholder’s lifetime under the plan’s conditions.

If the insured person dies after the policy term has ended, the Basic Sum Assured becomes payable to the nominee. This post-maturity benefit should not be confused with receiving the maturity amount a second time.

The nominee receives the post-maturity death benefit only after the death of the insured person and according to the policy rules.

How Are Bonuses Added?

New Jeevan Anand participates in LIC’s profits and may receive Simple Reversionary Bonuses declared by the corporation. Once a bonus is declared and vested under an in-force policy, it becomes attached to the policy according to the applicable conditions.

A Final Additional Bonus may also be declared when a qualifying death or maturity claim arises. It is not assured for every policy.

Future bonuses cannot be accurately predicted at the time of purchase. Past bonus rates may help illustrate how the plan has operated, but they do not guarantee what LIC will declare over the next 20, 30 or 35 years.

Is a Loan Available Against the Policy?

A loan facility may become available after the policy acquires the required surrender value. The amount that can be borrowed and the applicable interest rate are governed by LIC’s prevailing rules.

A policy loan is not free money. Interest is charged, and any outstanding loan and interest may be deducted from the maturity, surrender or death claim. Borrowers should understand these consequences before using the facility.

What Happens If Premium Payments Stop?

Stopping premiums early can materially reduce the expected benefits. Depending on how many premiums have been paid and the applicable conditions, the policy may lapse or continue as a reduced paid-up policy.

A paid-up policy generally provides lower maturity and death benefits than originally selected. It may also stop participating in future profits, although bonuses that have already vested may remain attached according to the policy terms.

Surrendering the policy during its early years can also result in receiving substantially less than the total amount paid. Buyers should therefore select a premium they can comfortably maintain for the full payment period.

Who May Consider This Plan?

New Jeevan Anand may appeal to people who:

• Want life insurance and disciplined savings in one product
• Prefer a non-market-linked policy
• Can commit to paying premiums over a long period
• Value the continuation of life cover after maturity
• Understand that bonuses are not guaranteed in advance

However, people seeking maximum life cover at a lower premium may also compare pure term insurance. Those focused primarily on investment returns should compare the policy’s projected internal rate of return with other suitable savings and investment options.

Important Checks Before Buying

Customers should never purchase an insurance plan solely because of a daily-premium slogan. They should read the official brochure and Customer Information Sheet and examine exclusions, surrender rules, loan conditions and tax treatment.

They should also verify whether quoted premiums include GST or other applicable charges. A projection excluding taxes may understate the actual amount paid by the policyholder.

Final Takeaway

LIC New Jeevan Anand combines a maturity benefit, participating bonuses and life insurance protection that can continue after the selected policy term. However, the claim that ₹45 per day will automatically produce ₹25 lakh is not valid for every customer.

Saving ₹45 daily amounts to approximately ₹5.75 lakh over 35 years before taxes and other charges. Whether a particular policy can deliver ₹25 lakh depends on its Basic Sum Assured, premium, term and bonuses declared over time.

The most reliable way to evaluate the claim is to obtain an official personalised benefit illustration and compare the total premium outgo with both the guaranteed and projected benefits.

Disclaimer: This article is for general information only and does not constitute insurance or investment advice. Bonuses and non-guaranteed benefits can vary. Buyers should confirm all figures and conditions with LIC before purchasing a policy.