LIC Anmol Jeevan Plan 153 | Best for affordable financial protection
LIC Anmol Jeevan Plan 153 was a traditional pure term insurance policy introduced by the Life Insurance Corporation of India (LIC) to provide affordable financial protection. The primary objective of the plan was to
LIC Anmol Jeevan Plan 153 Calculator
UIN: 512N212V01 | Pure Term Assurance Plan
Important Notes
- LIC Anmol Jeevan Plan 153 is a Pure Term Insurance Plan designed only to provide life cover.
- There is No Maturity Benefit. If the life assured survives the policy term, no amount is payable.
- During the policy term, the nominee receives the Full Sum Assured if the life assured dies while the policy is in force.
- Entry Age: 18 to 50 Years | Maximum Maturity Age: 60 Years.
- Policy Terms available: 10, 15 and 20 Years.
- Premium payment modes available are Yearly, Half-Yearly, Quarterly and Single Premium. :contentReference[oaicite:0]{index=0}
- No Loan Facility, No Surrender Value and No Paid-up Value are available under this plan. :contentReference[oaicite:1]{index=1}
- Grace period is applicable for regular premium policies as per LIC rules. :contentReference[oaicite:2]{index=2}
Disclaimer
This calculator provides estimated premium values for educational and illustration purposes only. Actual premiums, underwriting decisions and policy benefits will be determined by the official LIC Anmol Jeevan Plan 153 policy conditions and applicable LIC rules.
Introduction to LIC Anmol Jeevan Plan 153
LIC Anmol Jeevan Plan 153 was a traditional pure term insurance policy introduced by the Life Insurance Corporation of India (LIC) to provide affordable financial protection. The primary objective of the plan was to offer a substantial life cover at a low premium, ensuring that the nominee received financial support if the life assured passed away during the policy term.
Unlike savings-oriented insurance plans, LIC Anmol Jeevan Plan 153 focused solely on life protection. It did not provide any maturity value or survival benefit, making it an economical option for individuals seeking pure risk coverage.
Launch and Withdrawal Dates
Launch Date: LIC introduced Anmol Jeevan Plan 153 before the early 2000s as one of its basic term insurance products. Although the exact launch date is not officially available, the policy was in force before 2003.
Withdrawal Date: The plan was discontinued on 31 October 2003 and replaced by LIC Anmol Jeevan-I (Plan No. 164), which offered updated features and revised underwriting guidelines.
The withdrawal formed part of LIC’s product restructuring strategy to introduce more advanced term insurance plans.
LIC Anmol Jeevan Plan 153 – Overview
LIC Anmol Jeevan Plan 153 was a pure term assurance policy that provided low-cost life insurance for a fixed duration. Since it was designed exclusively for protection, the plan paid benefits only if the life assured died during the policy term.
If the insured survived until the end of the policy period, no maturity amount, survival benefit, surrender value, or loan facility was available. This straightforward structure helped keep premiums affordable while offering high life insurance coverage.
Key Features of LIC Anmol Jeevan Plan 153
- Plan Type: Pure Term Assurance Plan.
- Policy Term: From 5 years to 25 years.
- Entry Age: 18 years (completed) to 50 years (nearest birthday).
- Sum Assured: Minimum ₹5,00,000 and maximum ₹3,00,00,000.
- Death Benefit: The nominee received the full Sum Assured if the life assured died during the policy term.
- Maturity Benefit: No maturity benefit was payable if the policyholder survived the policy term.
- Premium Payment Modes: Annual and Half-Yearly.
- Grace Period: 15 days for renewal premium payment.
- Tax Benefits: Premiums qualified for tax benefits under the applicable provisions of the Income Tax Act.
How LIC Anmol Jeevan Plan 153 Worked
The policy operated on a simple protection model.
The policyholder selected the desired Sum Assured and policy term and paid premiums according to the chosen payment frequency.
If the insured died while the policy was active, LIC paid the entire Sum Assured to the nominee in a single lump-sum payment.
However, if the life assured survived until the completion of the policy term, the policy ended without any maturity or survival benefit because it was purely a risk protection plan.
Benefits of LIC Anmol Jeevan Plan 153
LIC Anmol Jeevan Plan 153 offered several advantages for individuals looking for economical life insurance protection.
- Affordable premiums for high-value life insurance coverage.
- Financial security for the nominee in case of the policyholder’s untimely death.
- Medical examination was not mandatory for standard lives within specified Sum Assured limits.
- Flexible policy terms ranging from 5 to 25 years.
- Premiums were eligible for income tax benefits under the applicable tax laws.
- Suitable for individuals seeking pure life insurance without any investment or savings component.
Important Conditions and Restrictions
Before purchasing the policy, applicants were required to understand the important terms and limitations.
- The maximum age at policy maturity could not exceed 60 years.
- If the life assured committed suicide within 12 months of policy commencement, the policy became void, and LIC refunded the premium paid after deducting applicable taxes and extra premiums.
- Medical underwriting and health declarations were applicable wherever required.
- Individuals engaged in hazardous occupations involving additional risk premiums exceeding ₹4 per ₹1,000 Sum Assured were not eligible under the plan.
- A grace period of 15 days was available for Annual and Half-Yearly premium payments.
- If the insured died during the grace period, LIC paid the death benefit after deducting the unpaid premium.
LIC Anmol Jeevan Plan 153 Calculator
Although LIC no longer offers Anmol Jeevan Plan 153, a premium calculator based on the historical plan can still help users estimate premiums and insurance coverage.
Inputs Required
The calculator generally requires the following information:
- Age of the applicant (18 to 50 years).
- Selected policy term (5 to 25 years).
- Desired Sum Assured (starting from ₹5,00,000).
- Preferred premium payment mode (Annual or Half-Yearly).
Calculator Results
After entering the required information, the calculator estimates:
- Annual or Half-Yearly premium payable.
- Death benefit available under the policy.
- Applicable tax benefit information.
- Maturity benefit (which remains Nil under this plan).
How to Use the Calculator
Using the LIC Anmol Jeevan Plan 153 Calculator is simple.
Step 1
Enter the age of the life assured.
Step 2
Choose the preferred policy term between 5 and 25 years.
Step 3
Select the desired Sum Assured.
Step 4
Choose the premium payment mode.
Step 5
Click the calculate button to view the estimated premium and death benefit available under the selected policy details.
The calculator enables users to compare different policy terms and Sum Assured options before making an insurance decision.
Why Choose a Pure Term Insurance Plan?
Although LIC Anmol Jeevan Plan 153 has been discontinued, it reflects the traditional concept of pure term insurance.
A pure term insurance policy allows individuals to obtain a high amount of life insurance at comparatively low premiums because it focuses exclusively on financial protection without offering maturity or investment benefits.
Such plans are suitable for people whose primary objective is to secure their family’s financial future in case of an unexpected event.
Alternatives to LIC Anmol Jeevan Plan 153
After the withdrawal of Plan 153, LIC introduced several updated term insurance policies with improved features.
Some comparable LIC term insurance plans include:
- LIC Tech Term Plan.
- LIC e-Term Plan.
- LIC Anmol Jeevan II (Plan No. 822, UIN 512N285V01).
These newer plans offer enhanced coverage options, simplified purchasing processes, and competitive premium rates.
Frequently Asked Questions
What is LIC Anmol Jeevan Plan 153?
LIC Anmol Jeevan Plan 153 was a pure term insurance policy that provided affordable life insurance protection without offering any maturity or survival benefits. The nominee received the Sum Assured if the insured died during the policy term.
What is the UIN of LIC Anmol Jeevan Plan 153?
The Unique Identification Number (UIN) of LIC Anmol Jeevan Plan 153 was 512N212V01.
When was LIC Anmol Jeevan Plan 153 launched?
The exact launch date has not been officially published, but the plan was introduced before the early 2000s and remained available until 2003.
Is LIC Anmol Jeevan Plan 153 still available?
No. LIC discontinued the policy on 31 October 2003 and replaced it with LIC Anmol Jeevan-I (Plan No. 164).
What benefits did the policy provide?
The policy offered a lump-sum death benefit to the nominee if the life assured died during the policy term. No maturity or survival benefit was payable if the insured survived the policy period.
Summary
LIC Anmol Jeevan Plan 153 (UIN 512N212V01) was a pure term insurance policy introduced by LIC to provide affordable life insurance protection without any investment or savings component. Available before the early 2000s and withdrawn on 31 October 2003, the plan focused entirely on financial security for the nominee by paying the Sum Assured upon the death of the life assured during the policy term. Although it has been discontinued, it remains a useful reference for understanding traditional term insurance products and their role in financial planning.
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