LIC Jeevan Anand vs Jeevan Labh: which endowment should you pick?
New Jeevan Anand (Plan 715) and Jeevan Labh (Plan 736) are two of LIC’s most popular savings plans, and they’re often confused. Both are participating endowment plans that pay bonuses and a tax-free maturity. But they’re built for two different needs. Here’s how to tell which one fits you.
The core difference in one line
Jeevan Labh gives you a bigger lump sum on a fixed date; New Jeevan Anand gives you lifelong cover that continues even after the plan matures.
New Jeevan Anand (715)
Jeevan Anand’s signature feature is that your life cover doesn’t end when the policy matures. You get the maturity amount (sum assured plus bonuses) at the end of the term, and the sum assured is still paid to your family whenever you pass away, even decades later. In effect it’s an endowment plan with a whole-life cover attached. That extra lifelong protection is what you’re paying a little more for.
Jeevan Labh (736)
Jeevan Labh is a limited-premium plan: you pay for fewer years than the policy runs (for example, pay for 16 years on a 25-year policy). It’s built to hand you a strong, tax-free lump sum on the maturity date, with cover during the term only. If your goal is a defined corpus for a known future need — a child’s higher education, a down-payment — and you’d like to finish paying early, Jeevan Labh fits well.
| New Jeevan Anand (715) | Jeevan Labh (736) | |
|---|---|---|
| Best for | Savings + lifelong family cover | A big lump sum on a fixed date |
| Cover after maturity | Yes, continues for life | No, ends at maturity |
| Premium paying | Through the full term | Limited (fewer years) |
| Maturity | Tax-free (10(10D) conditions apply) | Tax-free (10(10D) conditions apply) |
Both share the same honest caveat
Like all participating endowments, both return roughly 5–6% a year. They’re safe and tax-free, but for pure long-term growth a cheap term plan plus a mutual-fund SIP has historically built more. Use these plans for the guaranteed, no-worry part of your portfolio — not as your only wealth engine. Our guide on building a full plan shows how to balance the two.
See your exact numbers
Check the precise premium and estimated maturity for both on the New Jeevan Anand calculator and the Jeevan Labh calculator, or compare every LIC plan on the premium calculator.
Educational content, not individual advice. Bonus rates are declared by LIC each year and actual maturity values will differ. Confirm figures with LIC or a licensed advisor.