It is the responsibility of the LIC Agent to make customer educate about the terms & conditions on non-payment or discontinuation. However, when you get your policy document, you get the year wise surrender value in %age printed on your policy document, but as you said that like most people, you did not notice the same.

There is nothing wrong about the Jeevan Anand Policy or other plans. The only wrong thing is about non-communication about terms and conditions by the Agent.