When looking for a traditional life insurance policy in India, two names inevitably come up in conversation: LIC Jeevan Anand (Plan 915) and LIC Jeevan Labh (Plan 936). Both are highly popular participating endowment plans, but they serve very different financial goals.
Choosing between them can be confusing. In this guide, we break down the core differences, advantages, and ideal use cases for both plans so you can make an informed decision.
Overview of LIC Jeevan Anand (Plan 915)
Jeevan Anand is often marketed as a "Whole Life Endowment" plan. It offers a unique dual benefit: a guaranteed maturity payout when the policy term ends, plus a continued life cover that lasts until you turn 100 years old, even after you stop paying premiums.
Key Features:
- Maturity Benefit: Sum Assured + Accrued Reversionary Bonus + Final Additional Bonus (at the end of the policy term).
- Extended Life Cover: Even after the policy matures and you receive the lump sum, your life cover (equal to the Basic Sum Assured) continues until age 100. When the policyholder passes away, this amount is paid to the nominee.
- Premium Paying Term: You pay premiums for the entire duration of the chosen policy term.
Overview of LIC Jeevan Labh (Plan 936)
Jeevan Labh is a "Limited Premium Paying" endowment plan. Its biggest selling point is that you don't have to pay premiums for the entire policy term. You pay for a limited number of years, but your money continues to grow, and your life cover remains active for the full term.
Key Features:
- Maturity Benefit: Sum Assured + Accrued Reversionary Bonus + Final Additional Bonus (at the end of the policy term).
- Limited Premium Payment: There are fixed combinations of Policy Term (PT) and Premium Paying Term (PPT):
- 16-year term (pay for 10 years)
- 21-year term (pay for 15 years)
- 25-year term (pay for 16 years)
- Higher Bonuses: Historically, Jeevan Labh has attracted slightly higher bonus rates compared to other endowment plans because the money is locked in for a longer period relative to the premium paying term.
Head-to-Head Comparison
| Feature | LIC Jeevan Anand (915) | LIC Jeevan Labh (936) | | :--- | :--- | :--- | | Plan Type | Whole Life Endowment | Limited Premium Endowment | | Premium Paying Term | Equal to Policy Term | Less than Policy Term | | Life Cover Duration | Up to Age 100 | Up to end of Policy Term | | Liquidity | Moderate (Premiums spread out) | Lower (Heavier upfront premiums) | | Target Audience | Those wanting to leave an inheritance | Those planning for a specific milestone (e.g., child's education) |
Which Plan Should You Choose?
Choose Jeevan Anand if:
- You want to ensure you leave a guaranteed lump sum behind for your spouse or children, regardless of when you pass away.
- You prefer to spread out your premium payments over a longer period to keep the annual cash outflow lower.
- You are looking for a hybrid between savings and legacy planning.
Choose Jeevan Labh if:
- You are earning well now but want to finish your premium commitments before retirement (e.g., paying for 15 years for a 21-year policy).
- You are saving for a specific future goal, like your child's higher education or marriage, and want maximum returns at the end of the term.
- You do not need an extended life cover after the policy matures.
Conclusion
Both Jeevan Anand and Jeevan Labh are solid, low-risk financial instruments that provide guaranteed safety of capital along with steady, tax-free returns.
If legacy planning is your priority, Jeevan Anand is unmatched. If milestone-based saving with a limited payment burden is your goal, Jeevan Labh is the clear winner.
To see exactly how the numbers stack up for your specific age, use our Jeevan Anand Calculator and Jeevan Labh Calculator to compare the projected maturity values and premiums side-by-side.