• Plan launched on 01 February 2020 and withdrawn on 01 October 2024
• Premiums shown are approximate LIC illustration values
• Bonus rates are estimated using LIC historical bonus declarations
• Maturity Benefit = Basic Sum Assured + Bonus + Final Additional Bonus
• Death Benefit = Higher of 125% Sum Assured or 7× Annual Premium + Bonuses
• Lifelong basic life cover continues even after maturity
• Final Additional Bonus (FAB) estimated for policies above 15 years.
• GST: 4.5% first year & 2.25% renewal years.
• Actual LIC premiums and bonuses may vary based on underwriting and official declarations.
LIC New Jeevan Anand Plan 915 Calculator
LIC New Jeevan Anand Plan 915 Calculator is a useful tool that helps policyholders estimate premiums, maturity benefits, and insurance coverage under LIC’s New Jeevan Anand Insurance Plan 915. This policy, introduced by the Life Insurance Corporation of India on February 1, 2020, and withdrawn on October 1, 2024, remained one of LIC’s most popular endowment and protection plans in India.
What is LIC New Jeevan Anand Plan 915?
LIC New Jeevan Anand Plan 915 is a non-linked, participating, individual life assurance policy that combines savings benefits with long-term life insurance protection.
One of the major highlights of this plan is that life insurance coverage continues even after the maturity benefit is paid, offering lifelong financial security to the insured person.
Main Benefits of LIC New Jeevan Anand Plan 915
The plan provides:
- Lump-sum maturity benefit at the end of the policy term
- Continued life insurance protection even after maturity
- Participation in LIC bonus declarations
- Enhanced maturity and death benefits through bonus additions
Launch and Withdrawal Details of LIC New Jeevan Anand Plan 915
When Was LIC New Jeevan Anand Plan 915 Launched?
LIC officially launched New Jeevan Anand Plan 915 on February 1, 2020.
When Was LIC New Jeevan Anand Plan 915 Withdrawn?
The plan was withdrawn from new sales on October 1, 2024. Existing policyholders continue to receive policy benefits according to original terms and conditions.
Key Features of LIC New Jeevan Anand Plan 915
What Are the Main Features of LIC New Jeevan Anand Plan 915?
Combination of Protection and Savings
The plan offers both savings accumulation and life insurance coverage. Death benefits remain active during the policy term and life cover continues even after maturity.
Bonus Participation
Being a participating policy, LIC New Jeevan Anand Plan 915 offers:
- Simple Reversionary Bonus
- Final Additional Bonus
These bonuses depend on LIC’s yearly financial performance and increase policy benefits.
Loan Facility
Policyholders become eligible for policy loans after payment of at least two full years’ premiums once the policy acquires surrender value.
Flexible Premium Payment Modes
Premiums could be paid through:
- Yearly mode
- Half-yearly mode
- Quarterly mode
- Monthly mode
Policy Revival Option
Lapsed policies could be revived within 5 years from the date of the first unpaid premium according to LIC rules.
Free Look Period
A free-look period of 15 days was available from receipt of the policy document, allowing policyholders to return the policy if unsatisfied with terms and conditions.
Tax Benefits
- Premiums paid qualified for tax deduction under Section 80C of the Income Tax Act
- Maturity and death benefits remained tax-free under Section 10(10D) subject to prevailing tax laws
Eligibility Criteria of LIC New Jeevan Anand Plan 915
What Are the Eligibility Conditions for LIC New Jeevan Anand Plan 915?
| Parameter | Minimum | Maximum |
|---|---|---|
| Entry Age | 18 years completed | 50 years nearer birthday |
| Maturity Age | — | 75 years |
| Policy Term | 15 years | 35 years |
| Basic Sum Assured | ₹1,00,000 | No upper limit |
| Premium Payment Modes | Yearly, Half-yearly, Quarterly, Monthly | — |
| Grace Period | 30 days for yearly, half-yearly, and quarterly modes | 15 days for monthly mode |
Benefits of LIC New Jeevan Anand Plan 915
1. Death Benefit (Life Cover)
If the policyholder dies during the policy term, the nominee receives the higher of:
- 125% of the Basic Sum Assured, or
- 7 times the annualized premium
Along with:
- Accumulated Simple Reversionary Bonuses
- Final Additional Bonus if applicable
If the insured person survives the policy term and later passes away after maturity, the Basic Sum Assured continues as lifelong insurance coverage under the plan.
2. Maturity Benefit
If the policyholder survives until maturity and all premiums are paid regularly, the maturity amount payable includes:
- Basic Sum Assured
- Simple Reversionary Bonuses
- Final Additional Bonus if declared
Maturity Formula
Maturity Benefit = Basic Sum Assured + Bonuses + Final Additional Bonus
This lump sum amount helps meet long-term financial goals such as retirement planning, children’s education, or home-related expenses.
3. Bonus Benefits
LIC New Jeevan Anand Plan 915 is a participating policy, meaning it shares LIC profits through bonus declarations.
Types of Bonuses Available
- Simple Reversionary Bonus declared annually
- Final Additional Bonus payable at maturity or death if applicable
These bonus additions increase overall maturity and death benefits.
4. Loan Facility
After payment of at least two full years’ premiums, policyholders become eligible to avail loans against the surrender value of the policy according to LIC rules.
This feature helps provide financial liquidity during emergencies.
5. Rider Benefits
Additional Riders Available Under LIC New Jeevan Anand Plan 915
Policyholders could enhance insurance coverage by selecting optional riders through additional premium payment.
Available riders included:
- Accidental Death and Disability Benefit Rider
- Accident Benefit Rider
- New Term Assurance Rider
- New Critical Illness Rider
These riders offered extra protection against accidental death, disability, critical illnesses, and additional term insurance coverage.
6. Tax Benefits
What Tax Benefits Were Available?
- Premiums paid qualified for tax deductions under Section 80C of the Income Tax Act
- Death and maturity benefits remained tax-free under Section 10(10D) subject to prevailing tax laws
Example Calculation of LIC New Jeevan Anand Plan 915
Sample Illustration Using LIC New Jeevan Anand Calculator
Suppose the following policy details are selected:
| Parameter | Example |
|---|---|
| Age | 30 years |
| Policy Term | 25 years |
| Basic Sum Assured | ₹10,00,000 |
| Approximate Annual Premium | ₹46,000 |
Estimated Maturity Calculation
- Estimated accumulated bonuses: ₹5 lakh to ₹6 lakh depending on LIC bonus declarations
- Approximate maturity value:
₹10,00,000 + ₹5,50,000 = ₹15,50,000
Actual bonus rates and maturity values may vary depending on LIC’s annual bonus declarations.
Frequently Asked Questions
What is LIC New Jeevan Anand Plan 915?
LIC New Jeevan Anand Plan 915 is a non-linked participating endowment insurance plan that combines savings benefits with lifelong insurance protection.
When Was LIC New Jeevan Anand Plan 915 Launched?
The policy was officially launched on February 1, 2020.
Is LIC New Jeevan Anand Plan 915 Still Available?
No, the plan was withdrawn from new sales on October 1, 2024. Existing policyholders continue receiving policy benefits according to original terms.
What Is the Minimum and Maximum Entry Age for LIC New Jeevan Anand Plan 915?
The minimum entry age was 18 years, while the maximum entry age allowed was 50 years.
How Is the Death Benefit Calculated Under LIC New Jeevan Anand Plan 915?
The nominee receives the higher of:
- 125% of Basic Sum Assured
- 7 times annualized premium
along with accrued bonuses and applicable Final Additional Bonus.
Is Loan Facility Available Under LIC New Jeevan Anand Plan 915?
Yes, policyholders can avail loans against the policy after payment of at least two full years’ premiums.
Conclusion
LIC New Jeevan Anand Plan 915 remained one of LIC’s flagship traditional insurance plans because of its unique combination of savings benefits and lifelong insurance protection. Although the plan was withdrawn in October 2024, existing policyholders continue to enjoy guaranteed policy benefits and bonus participation.
The LIC New Jeevan Anand Plan 915 Calculator helps individuals estimate premiums, maturity value, and insurance benefits more accurately, making financial planning easier and more effective.
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