A special non-linked, participating endowment assurance plan that blends lifetime coverage, protection, and savings is the LIC New Jeevan Anand Plan. In contrast to standard insurance, this plan covers you for life, even after maturity, in addition to offering financial stability during the policy term.
Jeevan Anand continues to be one of the most reputable and popular life insurance plans in India thanks to its lifetime risk coverage, alluring bonuses, and guaranteed benefits.
LIC New Jeevan Anand (Plan 715) Calculator
Estimate premium and potential benefits for LIC’s New Jeevan Anand Plan 715.
Key Features of LIC’s New Jeevan Anand
- Endowment plus lifetime risk coverage is a dual benefit.
- Basic Sum Assured + Bonuses is the maturity payout.
- Death Benefit (during policy term): 7x Annualised Premium + Bonuses or 125% of Basic Sum Assured, whichever is higher.
- Death Benefit (After Policy Term): The Basic Sum Assured is still payable after the policy has matured.
- Monthly, quarterly, half-yearly, or annual premiums are all flexible options.
- After a year, the loan facility will be available (with full premium payment).
- Option for Settlement: Death/Maturity Benefits may be received in full or in installments over a period of five, ten, or fifteen years.
- Tax Benefits: Benefits under 10(10D) and premiums under 80C.
Benefits at a Glance
1. Death Benefit
- “Sum Assured on Death” (the greater of 125% of Basic Sum Assured or seven times the annual premium) plus vested Simple Reversionary Bonus plus Final Additional Bonus are paid out during the policy term.
- Following Policy Term (Lifetime Coverage): Base Amount guaranteed to be paid upon death, even after maturity.
- 105% of the total premiums paid is the minimum death benefit.
2. Maturity Benefit
- Basic Sum Assured + Bonuses (Simple Reversionary + Final Additional Bonus, if any) upon survival until maturity.
3. Surrender Value
- After two years of premium payments, the policy’s Guaranteed Surrender Value is acquired.
- After a year, with one premium paid, the Special Surrender Value becomes available.
Why Jeevan Anand Stands Out for Indians
- Lifetime Protection: After maturity, risk coverage persists.
- Legacy planning guarantees dependents’ financial support.
- Wealth + Protection Combo: It pays bonuses and increases savings, in contrast to term plans.
- Flexibility: A variety of benefit settlement options and premium modes.
- Millions of people trust LIC, the biggest and oldest insurer in India.
Real-World Examples
Case Study – Mumbai:
Ramesh Mehta, 35 years, opted for a 25-year Jeevan Anand policy with ₹10 lakh Sum Assured.
- Premium per year: about ₹42,000
- At age 60, the maturity benefit (sum assured plus bonuses) is approximately ₹20–22 lakhs.
- Lifetime Coverage: In the event of his death at any age, his family is still entitled to ₹10 lakh in coverage even after he reaches adulthood.
Case Study – Lucknow:
Priya Singh, 28 years, took a 20-year plan with ₹5 lakh Sum Assured.
- Premium: ~₹25,000 per year.
- At maturity, she received ~₹10 lakh.
- She unexpectedly died years later at the age of 56. Because of lifelong risk coverage, her nominee was still eligible for an extra ₹5 lakh death benefit.
Expert Insights
“The Jeevan Anand Plan is one of LIC’s most powerful offerings because it provides both endowment benefits and lifelong protection. Indians looking for security plus wealth creation often prefer this over pure term or savings plans.”
— Vivek Sharma, Chartered Financial Consultant
“With guaranteed maturity, bonuses, and lifetime cover, this plan is a perfect blend for risk-averse Indian investors who want long-term financial stability with legacy protection.”
— Dr. Anjali Verma, Insurance & Wealth Advisor
Frequently Asked Questions (FAQs)
Minimum 18 years, maximum 50 years (depending on term).
Minimum term is 15 years, maximum up to 35 years.
Unlike regular endowment, risk cover continues for life even after maturity.
Yes, loans can be availed after completion of one year with full premium paid.
If at least 1 full year’s premium is paid, the policy becomes paid-up with reduced benefits. It can also be revived.
Yes. Premiums are eligible under Section 80C, and maturity/death proceeds are tax-free under Section 10(10D).
Final Word
For people and families seeking a combination of lifetime protection, guaranteed maturity, and savings, the LIC New Jeevan Anand Plan is perfect. This plan guarantees that you and your loved ones will always have financial security thanks to LIC’s unparalleled reputation and nationwide reach.
Apply now for your family’s secure wealth and life insurance with LIC’s New Jeevan Anand.