Investment Plans 2395 views February 17, 2021

Being a parent, people worry about their children’s future in case they are not around to manage things. Do you know that LIC Jeevan Ankur Plan could help those parents whose children are aged up to 17 years? With this plan from the Life Insurance Corporation of India (LIC), one of the most trusted insurers in India, people can brighten the future of their children. We are showing the key features of this plan below. Take a look!


To know the right investment, please fill the details below and our policy experts will get in touch with you

  1. Guaranteed death benefit on the death of the life assured
  2. Lump sum payout on the death of a child
  3. Maturity benefit payout
  4. Loyalty additions on maturity
  5. Rider options
  6. Premium discount on the higher sum assured

Here, we will discuss these features in detail so that you can understand them better. Other than this, we will also talk about the policy term, benefits, the sum assured, eligibility, etc. Keep reading to know more!

Let’s Understand LIC Jeevan Ankur Plan Features in Detail

LIC Jeevan Ankur Plan is a plan specially designed for parents who want to protect their children’s future. Under this plan, the named child will be the nominee under the plan. Do remember that the policy term will depend on the age of your child at the maturity of the policy. You can check some of the extraordinary features of this plan below.

Death Benefit

LIC Jeevan Ankur Plan provides death benefits in different situations that we’ve mentioned below. Please check!

  1. On the death of the Life Assured during the policy term, the nominee will receive a basic sum assured along with an income benefit that will be equal to 10% of the basic sum assured on each policy year. This will start from the date of death of the life assured until the end of the policy term.
  2. In case the child dies and the life assured is alive, the latter can choose to nominate another person or child. In this case, the policy will continue and the the new nominee or legal heir will receive death benefits if the life assured dies during the policy term.
  3. On the death of the child or nominee after the life assured’s death, the policy will be in effect. Legal heir(s) will receive all the benefits in such a case.

Maturity Benefit

If the life assured survives until the end of the policy term, the policyholder will receive an assured maturity benefit equal to the basic sum assured along with loyalty additions at the time of policy maturity.

Rider Benefits

If you want to enhance your overall protection, you can do the same by opting for riders – Accidental benefit rider and Critical illness rider.  However, your premium amount will increase if you choose any of the two riders. You can know more about them below.

Accidental Benefit Rider – With this rider option, the policy will pay an additional amount equal to the accident benefit rider sum assured in case of accidental death. The sum assured can be chosen for an amount up to the basic sum assured with a minimum of INR 25,000. The maximum sum assured can be INR 50 lakh. Also, this benefit can be availed by individuals up to the age of 70.

Critical Illness Rider – With this rider option, individuals will get an additional amount equal to the critical illness rider sum assured when a critical illness is diagnosed. The sum assured that individuals can choose can be as low as INR 50,000 with a maximum of INR 5 lakh. Individuals up to the age of 60 years can choose this rider option.

What is the Sum Assured for LIC Jeevan Ankur Plan?

In the case of the LIC Jeevan Ankur Plan, the minimum sum assured amount stands at INR 1,00,000 while it can be increased in multiples of INR 5,000 with no upper limit as such.

What will be the Policy Term and Premium Payment Term?

The minimum term for the LIC Jeevan Ankur Plan can be higher of (18 – the age of the child) or 8 years. Suppose the age of a child is 9 years, the policy term will be 9 (18-9) years as it is higher than 8 years. However, the maximum policy term will depend on the age of the child and will be 25 – the age of the child. With a 10-year old child, the maximum policy term can go as high as 15 years (25-10).

Discounts on Premiums for Choosing Higher Sum Assured

Individuals who choose a higher sum assured can enjoy a rebate on their premium towards the policy. To know more, you can check the below table.

Sum AssuredRebate (For Single Premium)Rebate (For Regular Premium)
INR 1,00,000 to INR 1,95,000NilNil
INR 2,00,000 to INR 4,95,0004.00% of the sum assured2.00% of the sum assured
INR 5,00,000 and above6.00% of the sum assured3.00% of the sum assured

LIC Jeevan Ankur Plan Eligibility Criteria

Do check the conditions related to the eligibility criteria of the LIC Jeevan Ankur Plan below.

  1. The minimum age for the entry of the life assured should be 18 years while it can go as high as 50 years.
  2. Coming to the maximum maturity age of the life assured, it can be 75 years.
  3. The minimum age for the entry of the child can be as low as 0 years, while it can go up to 17 years.

People Also Read