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Life Insurance Corporation of India

LIC Agent in Visakhapatnam

Life cover built for decades, not just a policy year

A.V. Govinda Raju has been an LIC agent since 2011. These four plans come up most often in client conversations — each is a whole-life or endowment plan combining protection with guaranteed savings.

Reading LIC plans without the jargon

As an LIC agent and life insurance agent in Visakhapatnam, RGIS has spent years explaining these plans the same way twice: once in the brochure's language, and once in plain terms. Every LIC plan below pays a lump sum on death and, if you survive the term, on maturity too — the difference is in the shape of the payout. Some pay a regular income during your lifetime (Jeevan Umang, Jeevan Utsav), while others build toward a single maturity sum (Jeevan Labh, New Jeevan Anand). RGIS can walk through the premium and payout numbers for your exact age and sum assured.

Whole life + regular income

LIC Jeevan Umang

A whole-life plan that pays you an annual income after the premium-paying term ends, and continues life cover all the way to age 100 — combining protection with a pension-like payout.

LIC Jeevan Umang — the 100-year plan
  • Annual survival benefit of 8% of the Basic Sum Assured, paid every year from the end of the premium-paying term until maturity or death
  • Life cover continues to age 100, so the family stays protected for as long as the policyholder is paying or has paid premiums
  • Lump sum on maturity — Basic Sum Assured plus any vested bonuses — if the policyholder reaches age 100
  • Death benefit paid to the nominee at any point in the term, calculated as the higher of the Sum Assured or 10× the annualised premium, plus bonuses
  • Eligible for LIC's yearly reversionary bonus as a participating, with-profit plan
  • Loan facility available once the first full year's premium is paid

Good fit if

You want a policy that eventually pays you a yearly income for life, on top of the death benefit protection.

Ask about Jeevan Umang
Limited premium endowment

LIC Jeevan Labh

One of LIC's best-selling endowment plans — you pay premiums for a limited number of years, then stay covered until a single maturity payout, with a minimum sum assured of ₹2 lakh and no upper cap.

LIC Jeevan Labh — limited premium endowment plan
  • Choice of three policy terms — 16, 21 or 25 years — with shorter premium-paying periods of 10, 15 or 16 years respectively
  • Maturity benefit paid as a lump sum: Basic Sum Assured plus vested reversionary bonuses and any final additional bonus
  • Death benefit is the higher of 10× the annualised premium or the Basic Sum Assured, with a guaranteed minimum of 105% of premiums paid
  • Rebates on premium for higher sum assured amounts, reducing the effective cost per rupee of cover
  • Optional riders, including accidental death and disability cover, available for an additional premium
  • Loan facility available once two full policy years of premium have been paid

Good fit if

You want to stop paying premiums well before the policy matures, while the cover and savings keep building.

Ask about Jeevan Labh
Whole life + flexible income

LIC Jeevan Utsav

A newer whole-life plan (launched November 2023) with flexible premium terms from 5 to 16 years, letting you choose between a regular yearly income or a flexible, deferred withdrawal option.

LIC Jeevan Utsav — guaranteed reason for celebration
  • Choice at the start between Regular Income Benefit (steady annual payout) or Flexi Income Benefit (deferred withdrawals that build up interest)
  • Guaranteed additions of ₹40 per ₹1,000 of Basic Sum Assured added at the end of every premium-paying year
  • Entry age from 90 days to 65 years, with a minimum sum assured of ₹5 lakh and no upper limit
  • Death benefit is the Sum Assured on Death plus accrued guaranteed additions, with a minimum payout of 105% of premiums paid
  • Five optional riders available, including critical illness and accidental death cover
  • As a non-participating plan, benefits are fixed upfront rather than dependent on LIC's yearly bonus declarations

Good fit if

You want a shorter premium commitment (as little as 5 years) with the flexibility to choose how the income is paid out later.

Ask about Jeevan Utsav
Endowment + lifelong cover

LIC New Jeevan Anand

One of LIC's most popular endowment plans, combining a maturity payout with life cover that continues even after the policy term ends — a policy term of 15 to 35 years, with premiums payable throughout.

LIC New Jeevan Anand
  • Maturity benefit: the Basic Sum Assured plus vested reversionary bonuses and any final additional bonus, paid as a lump sum if the policyholder survives the term
  • Death benefit during the term: the higher of 125% of the Basic Sum Assured or 7× the annualised premium, plus bonuses
  • Life cover continues after maturity too — if death occurs after the maturity date, the nominee still receives the Basic Sum Assured
  • Participating plan, so it shares in LIC's yearly bonus declarations through simple reversionary bonuses
  • Flexible premium payment — yearly, half-yearly, quarterly or monthly
  • Loan facility available after at least two full years of premiums are paid

Good fit if

You want an endowment-style maturity payout, but also want the life cover to continue beyond the policy term itself.

Ask about New Jeevan Anand

Want the numbers for your own age and budget?

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