LIC Jeevan Anurag Plan 168 Maturity Calculator
Calculate premium and view assured child education benefits.
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Immediate Death Benefit
₹0 payable immediately on death during the policy term.
Policy Summary
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| Policy Year | Benefit Type | Guaranteed Amount |
|---|
LIC Jeevan Anurag Plan 168 is a with-profits life insurance plan designed to provide scheduled financial benefits that could help meet a child’s education and other future needs. The plan combined life cover with predetermined payouts during the final years of the policy term.
LIC identifies the policy as LIC Jeevan Anurag, Table No. 168, UIN 512N225V01. It is now a withdrawn plan, with withdrawal effective from 1 January 2014. Existing policies continue according to their original terms and conditions. In this article, we will learn how the LIC Jeevan Anurag Plan 168 Calculator helps existing policyholders to understand their premium summary, survival benefits, final maturity instalment, death benefit, and basic Guaranteed Surrender Value.
Table of Contents
What Is the LIC Jeevan Anurag Plan 168 Calculator?
The LIC Jeevan Anurag Plan 168 Calculator is an online tool that helps estimate the important benefits of an existing Jeevan Anurag policy. It can show the scheduled survival benefits, final maturity instalment, immediate death benefit, premium details, and estimated Guaranteed Surrender Value. For the closest result, use the Basic Sum Assured and annual premium shown on the original policy bond.
Calculator Highlights
- Its shows the 20%-20%-20%-40% scheduled benefit structure
- Separates total scheduled benefits from the final maturity instalment
- Calculates the immediate death benefit
- Supports regular, limited, and single-premium structures
- Shows premium payment details
- Estimates Guaranteed Surrender Value
- Keeps guaranteed benefits and bonus-based benefits separate
LIC Jeevan Anurag Plan 168 Quick Overview
| Particular | Details |
|---|---|
| Plan Name | LIC Jeevan Anurag |
| Plan Number | 168 |
| UIN | 512N225V01 |
| Plan Type | Traditional with-profits plan |
| Current Status | Withdrawn from new sale |
| Withdrawal Date | 1 January 2014 |
| Premium Modes | Yearly, half-yearly, quarterly, monthly, salary deduction or single premium |
| Premium-Paying Term | Same as policy term, three years less than policy term, or single premium |
| Bonus Type | Simple Reversionary Bonus and possible Final Additional Bonus |
| Immediate Death Benefit | Basic Sum Assured |
| Survival Benefit Pattern | 20% + 20% + 20% + 40% of Basic Sum Assured |
| Surrender Eligibility | After the policy has been in force for at least three years |
LIC described Jeevan Anurag as a with-profits plan where scheduled benefits are payable at predetermined times even if the Life Assured dies during the policy term.
What Is LIC Jeevan Anurag Plan 168?
LIC Jeevan Anurag Plan 168 was designed to provide financial support during the final years of the policy. Instead of paying the full Basic Sum Assured only on the maturity date, the plan divides it into four scheduled payments.
The first three payments in this policy is equal to 20% of the Basic Sum Assured. The remaining 40% is paid on maturity along with the vested Simple Reversionary Bonus and Final Additional Bonus, if applicable.
The policy also provides life insurance protection. If the Life Assured dies during the policy term, the Basic Sum Assured is payable immediately. No further basic premiums are required after death, while the scheduled benefits continue according to the plan conditions.
Key Features of Jeevan Anurag Plan 168
LIC Jeevan Anurag Plan 168 offered life cover along with scheduled payouts near the end of the policy term. Its main features included:
- 20%-20%-20%-40% payout structure
- Immediate death benefit equal to the Basic Sum Assured
- Scheduled benefits continue after an eligible death claim
- Regular, limited, and single-premium options
- Multiple premium payment modes
- Simple Reversionary Bonus and possible Final Additional Bonus
- Surrender value after the required minimum period
Benefits of Jeevan Anurag Plan 168
The main benefits of Jeevan Anurag Plan 168 include:
- Survival Benefit: 20% of the Basic Sum Assured is paid three years before maturity, another 20% two years before maturity, and another 20% one year before maturity.
- Maturity Benefit: The final maturity instalment is 40% of the Basic Sum Assured plus the vested bonus and Final Additional Bonus, if applicable.
- Death Benefit: The Basic Sum Assured is payable immediately on an eligible death claim.
- Continued Scheduled Benefits: The predetermined survival and maturity payments continue according to the policy conditions even after death.
- Bonus Benefit: The policy can receive a Simple Reversionary Bonus and a possible Final Additional Bonus.
- Surrender Benefit: The policy may acquire surrender value after completing the required minimum period.
LIC Jeevan Anurag Plan 168 Survival Benefit
The survival benefit is one of the main features of the Jeevan Anurag Plan 168.
The first three payments together equal 60% of the Basic Sum Assured.
The remaining 40% of the Basic Sum Assured is paid on maturity.
Therefore:
Total Guaranteed Scheduled Benefit =
100% of Basic Sum Assured
The amount payable specifically on the final maturity date is:
Final Maturity Instalment =
40% of Basic Sum Assured
+ Vested Simple Reversionary Bonus
+ Final Additional Bonus, if applicable
This distinction is important. The full Basic Sum Assured is not normally paid in one lump sum on maturity because 60% is already scheduled for payment during the previous three years.
LIC Jeevan Anurag Plan 168 Death Benefit
The death benefit is separate from the scheduled payout structure.
If the Life Assured dies during the policy term, LIC pays:
Immediate Death Benefit =
100% of Basic Sum Assured
After the eligible death claim:
- No further basic premiums are payable.
- The scheduled 20%-20%-20%-40% benefits continue according to the policy conditions.
For example, if the Basic Sum Assured is ₹5 lakh, the immediate death benefit is:
Immediate Death Benefit = ₹5,00,000
The scheduled benefits remain separate from this immediate death benefit.
This is the main feature of Jeevan Anurag. It makes this plan interesting because the plan was designed to continue providing financial support at the predetermined stages even after the death of the Life Assured.
How Bonus Works in LIC Jeevan Anurag Plan 168
Jeevan Anurag was a participating or with-profits policy. This means the policy could receive bonuses declared by LIC.
Two important bonus components are:
| Bonus Type | Meaning |
|---|---|
| Simple Reversionary Bonus | Bonus declared by LIC per ₹1,000 Sum Assured |
| Final Additional Bonus | An additional amount that may be payable at the final claim stage if declared |
Once a Simple Reversionary Bonus is declared and attached to the policy, it becomes vested and forms part of the policy benefit.
However, future Simple Reversionary Bonus and Final Additional Bonus are not guaranteed.
Therefore, the calculator should keep these values separate:
- Guaranteed Basic Sum Assured benefits
- Vested bonus already earned
- Estimated future bonus, if used only for illustration
Future bonus should never be shown as a guaranteed maturity amount.
Formula Used in LIC Jeevan Anurag Maturity Calculator
The calculator uses separate formulas for survival benefits, maturity, death benefit, and surrender value.
First Survival Benefit
20% × Basic Sum Assured
Second Survival Benefit
20% × Basic Sum Assured
Third Survival Benefit
20% × Basic Sum Assured
Final Maturity Instalment
Final Maturity Instalment =
40% × Basic Sum Assured
+ Vested Simple Reversionary Bonus
+ Applicable Final Additional Bonus
Total Guaranteed Scheduled Benefit
Total Guaranteed Scheduled Benefit =
100% × Basic Sum Assured
Immediate Death Benefit
Immediate Death Benefit =
100% × Basic Sum Assured
Guaranteed Surrender Value for Regular or Limited Premium
GSV =
30% ×
(Basic Premiums Paid
− First-Year Basic Premium
− Extra Premiums)
Guaranteed Surrender Value for Single Premium
GSV =
90% ×
(Single Premium Paid − Extra Premium)
Jeevan Anurag Plan 168 Maturity Value Explained
The term maturity value can be confusing for this policy because benefits start three years before the actual maturity date.
There are two different values to understand:
| Term | Meaning |
|---|---|
| Total Guaranteed Scheduled Benefit | 100% of the Basic Sum Assured spread over four payments |
| Final Maturity Instalment | 40% of Basic Sum Assured + vested bonus + applicable FAB |
Suppose the Basic Sum Assured is ₹3 lakh.
| Payment Stage | Amount |
|---|---|
| Three years before maturity | ₹60,000 |
| Two years before maturity | ₹60,000 |
| One year before maturity | ₹60,000 |
| Maturity date | ₹1,20,000 + vested bonus + FAB |
The guaranteed scheduled amount is:
₹60,000 + ₹60,000 + ₹60,000 + ₹1,20,000
= ₹3,00,000
However, the amount payable specifically on the maturity date is only ₹1,20,000 plus applicable bonuses.
How to Use LIC Jeevan Anurag Plan 168 Maturity Calculator
Using the calculator is easier when the original policy bond is available.
Enter Age at Entry: Enter the age of the Life Assured when the policy started.
This can help with premium estimation. However, for an existing policy, the actual premium shown on the policy bond should always be preferred over an online estimate.
Enter Basic Sum Assured: Enter the Basic Sum Assured shown on the policy bond.
This amount determines:
- Immediate death benefit
- Each 20% survival benefit
- Final 40% maturity instalment
- Total guaranteed scheduled benefit
For example, if the Basic Sum Assured is ₹2 lakh:
20% Benefit = ₹40,000
Final 40% Benefit = ₹80,000
Select Policy Term: Choose the original policy term.
Calculator uses the term to identify when the three survival benefits and final maturity instalment become payable.
For example, for a 25-year policy, the scheduled benefits fall in policy years 22, 23, 24 and 25.
Choose Premium Payment Type
The plan offered three broad premium structures:
| Option | Premium-Paying Term |
|---|---|
| Regular Premium | Same as policy term |
| Limited Premium | Policy term minus 3 years |
| Single Premium | One-time payment |
Select the option shown on the original policy document.
Select Premium Payment Mode: For regular and limited premium policies, premiums could be paid yearly, half-yearly, quarterly, monthly or through salary deduction.
Select the actual mode used for the policy.
Enter Annual Premium From Policy Bond: For existing policies, entering the annual basic premium printed on the policy bond gives a more practical premium summary.
Do not include GST, rider premium, late-payment charges or other extra amounts unless the calculator asks for them separately.
Jeevan Anurag Plan 168 Calculation Example
We use LIC’s official illustration in this calculation:
| Particular | Value |
|---|---|
| Age at Entry | 35 years |
| Basic Sum Assured | ₹1,05,000 |
| Policy Term | 25 years |
| Premium-Paying Term | 25 years |
| Premium Mode | Yearly |
| Yearly Premium | ₹4,606 |
| Total Premium Over 25 Years | ₹1,15,150 |
Survival Benefit Calculation
Basic Sum Assured:
₹1,05,000
Each 20% benefit:
20% × ₹1,05,000
= ₹21,000
Final 40% benefit:
40% × ₹1,05,000
= ₹42,000
The guaranteed schedule becomes:
| Policy Year | Benefit | Guaranteed Amount |
|---|---|---|
| 22 | First survival benefit | ₹21,000 |
| 23 | Second survival benefit | ₹21,000 |
| 24 | Third survival benefit | ₹21,000 |
| 25 | Final maturity instalment | ₹42,000 + applicable bonus |
Total guaranteed scheduled benefit:
₹21,000 + ₹21,000 + ₹21,000 + ₹42,000
= ₹1,05,000
The final maturity instalment may be higher if a vested Simple Reversionary Bonus and an applicable Final Additional Bonus are payable.
LIC’s old illustration also used assumed investment-return scenarios of 6% and 10%. These were illustration assumptions only and should not be treated as guaranteed returns or current bonus estimates.
Premium Payment Choices Under Plan 168
Jeevan Anurag provided three main premium-paying structures:
| Premium Option | Premium-Paying Term |
|---|---|
| Regular Premium | It is Equal to the policy term |
| Limited Premium | Three years less than the policy term |
| Single Premium | One lump-sum payment |
For example, for a 25-year policy:
- Regular premium: 25 years
- Limited premium: 22 years
- Single premium: One-time payment
The actual premium depends on the original policy terms, age, Sum Assured, policy term, premium option and underwriting details.
For an existing policy, the premium printed on the original policy bond should be treated as the primary reference.
Jeevan Anurag Plan 168 Surrender Value Calculator
A Jeevan Anurag policy can acquire surrender value after it has been in force for at least three years, subject to the original policy conditions.
Guaranteed Surrender Value for Regular or Limited Premium Policy
The formula is:
Guaranteed Surrender Value =
30% ×
(Basic Premiums Paid
− First-Year Basic Premium
− Extra Premiums)
Important points:
- Only basic premiums are considered.
- First-year premium is excluded.
- Extra premium is excluded.
- Rider premiums should not be included as basic premium.
- The policy must meet the minimum surrender eligibility conditions.
Guaranteed Surrender Value for Single-Premium Policy
Guaranteed Surrender Value =
90% ×
(Single Premium Paid − Extra Premium)
LIC may also calculate a Special Surrender Value.
The Special Surrender Value can be equal to or higher than the Guaranteed Surrender Value. Its exact amount depends on the reduced future claim value, premiums paid, policy duration and LIC’s applicable surrender basis.
Therefore, an online calculator should show:
Estimated Guaranteed Surrender Value
rather than claiming to show the final surrender amount.
Surrender Value Example
Using the official annual premium example of ₹4,606, suppose three full basic premiums have been paid and no extra premium applies.
Total premiums paid:
₹4,606 × 3 = ₹13,818
Less first-year premium:
₹13,818 − ₹4,606
= ₹9,212
Guaranteed Surrender Value:
30% × ₹9,212
= ₹2,763.60
Rounded estimated GSV:
₹2,764
This is only the formula-based Guaranteed Surrender Value. The actual surrender amount determined by LIC may be different if the applicable Special Surrender Value is higher.
Important Points Before Using the Calculator
LIC Jeevan Anurag Plan 168 is an old withdrawn policy, so the original policy bond and LIC servicing records remain important.
Keep these points in mind:
- Use the Basic Sum Assured printed on the policy bond.
- Use the actual policy-bond premium when available.
- Keep guaranteed benefits separate from future bonus estimates.
- Do not confuse the total scheduled benefit with the final maturity instalment.
- Treat Guaranteed Surrender Value as an estimate of the guaranteed formula-based value.
- Paid-up, lapsed, surrendered or altered policies may require different calculations.
- Rider benefits, loans and policy-specific changes can affect the final amount.
Tax Benefits in Jeevan Anurag Plan
Premiums paid for Jeevan Anurag Plan 168 may qualify for deduction under Section 80C, subject to the applicable tax conditions and overall limit.
Maturity proceeds may qualify for exemption under Section 10(10D) when the policy satisfies the required conditions. Death benefits are generally treated more favourably under Section 10(10D).
Because Jeevan Anurag policies were issued many years ago, the exact tax treatment can depend on the policy issue date, premium amount, Sum Assured and applicable tax rules. The tax position should therefore be checked using the actual policy details.
Other Related Plan Calculators:
- LIC Child Fortune Plus Plan 194
- LIC Jeevan Chhaya Calculator
- LIC Jeevan Kishore Plan 102
- LIC Jeevan Lakshya Calculator
Frequently Asked Questions
Is LIC Jeevan Anurag Plan 168 still available?
No. LIC Jeevan Anurag Plan 168 is withdrawn from new sale. LIC lists its withdrawal date as 1 January 2014.
What is the survival benefit in Jeevan Anurag Plan 168?
The policy pays 20% of Basic Sum Assured three years before maturity, 20% two years before maturity, another 20% one year before maturity and the remaining 40% on maturity. The final maturity payment can also include vested bonus and Final Additional Bonus, if applicable.
What is the maturity value of LIC Jeevan Anurag Plan 168?
The final maturity instalment is 40% of Basic Sum Assured plus vested Simple Reversionary Bonus and applicable Final Additional Bonus. The other 60% of Basic Sum Assured is scheduled for payment during the previous three years.
What happens if the Life Assured dies during the policy term?
The Basic Sum Assured is payable immediately on an eligible death claim. No further basic premiums are required, while the scheduled benefits continue according to the original policy conditions.
How is Jeevan Anurag surrender value calculated?
For a regular or limited premium policy, the basic Guaranteed Surrender Value is 30% of eligible basic premiums paid after excluding the first-year premium and extra premium. For a single-premium policy, the formula uses 90% of the single premium after excluding extra premium.
Conclusion
The LIC Jeevan Anurag Plan 168 Calculator helps explain a policy with an unusual benefit structure. Instead of paying the full Basic Sum Assured only on the maturity date, Jeevan Anurag divides it into three 20% survival benefits and a final 40% maturity instalment.
The policy also provides an immediate death benefit equal to the Basic Sum Assured while keeping the scheduled benefits available according to the policy conditions. For the most reliable calculation, use the original Basic Sum Assured, annual premium, policy term and bonus details shown in the policy records. The calculator can provide a useful estimate, while LIC’s actual policy records remain the final reference.
Amit Kushwaha is a financial content creator and SaaS tool developer based in Lucknow, Uttar Pradesh. He has more than seven years of experience creating insurance-related content, online calculators, and practical digital tools for LIC policyholders, insurance buyers, and LIC agents.
Through LICPolicyCalculator.com, he focuses on simplifying complex LIC policy information into easy-to-understand guides and calculators. His work covers LIC premium estimates, maturity calculations, surrender value tools, policy return calculations, term insurance planning, and plan-specific calculator pages.