LIC New Jeevan Anand Calculator & Plan Details

Plan Name: LIC New Jeevan Anand

Plan Number: 915 (often searched as 715 or 815)

UIN: 512N279V03

Plan Type: Participating, Non-Linked, Whole Life Endowment Plan

LIC’s New Jeevan Anand is often called the “Double Benefit” plan because it offers a unique promise: “Zindagi Ke Saath Bhi, Zindagi Ke Baad Bhi” (With you in life, and after life).

Unlike standard endowment plans that end once you receive your maturity amount, New Jeevan Anand continues to provide free life insurance coverage for the rest of your life, even after you have received the full maturity payout.

In this guide, we break down the premiums, maturity benefits, and “whole life” logic of this plan using the official 2025 brochure data.

LIC New Jeevan Anand Calculator: How It Works

To estimate your returns, you need to understand the three distinct phases of this policy: Premium Payment, Maturity, and Life Cover.

Sample Premium Illustration

Based on the official brochure for a standard healthy life.

• Age: 30 Years
• Policy Term: 35 Years
• Basic Sum Assured: ₹ 2,00,000
• Premium Payment Mode: Yearly

Payment Frequency	Installment Premium
Yearly Premium	₹ 6,968 (Excl. Taxes)

Projected Returns

If you pay premiums for the full 35 years, here is what you get back:

1. Guaranteed Maturity Benefit (At Age 65)

At the end of the policy term, if you are surviving, you receive:

• Basic Sum Assured: ₹ 2,00,000
• Vested Bonuses (Simple Reversionary + FAB): Variable
  • At 4% assumed return: Total Maturity ≈ ₹ 3,22,840
  • At 8% assumed return: Total Maturity ≈ ₹ 6,36,000 (Based on brochure calculation: 2L SA + 4.3L Bonus + FAB)

2. Post-Maturity Death Benefit (Age 65 onwards)

Even after LIC pays you the maturity amount, your risk cover continues. If you pass away at any time after maturity (e.g., at age 80), your nominee receives an additional ₹ 2,00,000 (Basic Sum Assured).

Note: The 4% and 8% rates are assumed future investment returns mandated by IRDAI and are not guaranteed. Actual returns depend on LIC’s profits.

Key Eligibility Conditions

Before buying, ensure you fall within these limits:

Parameter	Limit
Minimum Entry Age	18 Years (Completed)
Maximum Entry Age	50 Years (Nearer Birthday)
Maximum Maturity Age	75 Years (Nearer Birthday)
Policy Term	15 to 35 Years
Minimum Sum Assured	₹ 1,00,000
Maximum Sum Assured	No Limit (Depends on income)

The 3 Core Benefits Explained

1. Death Benefit (During Policy Term)

If the policyholder passes away before the policy matures, the nominee receives the “Sum Assured on Death” + Vested Bonuses + Final Additional Bonus (if any).

“Sum Assured on Death” is the highest of:

• 125% of Basic Sum Assured.
• 7 times the Annualised Premium.
• 105% of total premiums paid up to death.

2. Maturity Benefit (At End of Term)

If you survive the policy term, you receive the Basic Sum Assured + Simple Reversionary Bonuses + Final Additional Bonus (if declared).

3. Whole Life Benefit (After Maturity)

This is the unique feature. After maturity, the policy does not close. The Basic Sum Assured remains active as a death benefit. If the policyholder dies anytime after the policy term expires, the nominee gets the Basic Sum Assured.

Available Riders (Add-Ons)

You can enhance your protection by adding these riders for a small extra premium:

1. LIC’s Accidental Death and Disability Benefit Rider: Pays an extra lump sum for accidental death. For disability, it pays the Sum Assured in monthly instalments over 10 years and waives future premiums.
2. LIC’s Accident Benefit Rider: Pays a lump sum only for accidental death.
3. LIC’s New Term Assurance Rider: Increases the death benefit during the policy term.
4. LIC’s Critical Illness Rider: Covers 15 or 40 major critical illnesses.

Note: You can choose either the Accidental Death & Disability Rider OR the Accident Benefit Rider, not both.

Rebates & Discounts

You can reduce your premium cost by paying annually or choosing a higher coverage amount.

1. Mode Rebate:

• Yearly Payment: 2% discount on tabular premium.
• Half-Yearly: 1% discount
• Quarterly/Monthly: No discount.

2. High Sum Assured Rebate:

• Up to ₹ 4.99 Lakh: Nil.
• ₹ 5 Lakh to ₹ 9.99 Lakh: ₹ 2.50 rebate per ₹ 1,000 Sum Assured.
• ₹ 10 Lakh and above: ₹ 4.00 rebate per ₹ 1,000 Sum Assured.

Liquidity: Loans & Surrender

• Policy Loan: You can avail of a loan after paying at least two full years’ premiums (Wait, the 2025 brochure update states the loan is available after paying one full year’s premium).
• Surrender: You can surrender the policy after paying one full year’s premium.
  • Warning: Surrendering early results in a loss. The Guaranteed Surrender Value is a percentage of total premiums paid (e.g., 30% if surrendered in Year 2).

FAQ: LIC New Jeevan Anand

Q: Does this plan have a grace period?

A: Yes. 30 days for yearly/half-yearly/quarterly payments, and 15 days for monthly payments.

Q: Can I pay premiums monthly?

A: Yes, but monthly premiums can only be paid through NACH (National Automated Clearing House) or salary deduction.

Q: What if I stop paying premiums?

A: If you have paid less than one year’s premium, the policy lapses with zero value. If you have paid at least one full year’s premium, it becomes a Paid-up Policy with reduced benefits.

Q: Can I receive the death benefit in instalments?

A: Yes. The policyholder can choose to have the death benefit paid to the nominee in instalments over 5, 10, or 15 years instead of a lump sum.

Disclaimer: This guide is for educational purposes based on the official LIC Sales Brochure (UIN: 512N279V03). Please consult an LIC agent for final quotes.