LIC New Jeevan Anand 915 – LIC of India launched a new plan on 1st february 2020, which name is LIC New Jeevan Anand Plan 915 (LIC Table No 915) is whole life plan with Guaranteed Returns and Protections because it is not market based plan.

LIC New Jeevan Anand 915 is an endowment and whole life policy along with Bonus facility. “LIC New Jeevan Anand 915″ is a Double Death Benefit Plan, if the life insured survives till the end of the policy term.

LIC New Jeevan Anand policy has average premium, high bonus rate and great features. One of the main whole life features is that the nominees get the sum assured when the policyholder dies. With this feature you will get the money twice.

Please Note: You can buy now online LIC new jeevan anand plan 915 through credit card/debit card, net banking, upi and wallets on our LIC's New Business Platform.

Key Features

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• LIC New Jeevan Anand 915 is combination of Endowment and term insurance policy i.e. Double Benefit Endowment plan, if person lives till end of Term of the policy will be given Maturity Benefit and Risk Cover will continue till 100 years or death whichever is earlier. Death Benefit amount paid to Nominee.
• Accident Benefit rider is not inbuilt in this plan. You can opt for Accidental and disability Benefit Rider and Critical Illness Rider by paying small Amount of Premium.
• This is a High Bonus and High liquidity and whole life plan.
• Paid premium under New Jeevan Anand 915 is exempted under section 80c
• Maturity or death claim is tax free under section 10(10D) of Income Tax act.

LIC new jeevan anand 915 Parameters/Eligibility

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Age of Entry	18 to 50 years
Premium Paying Mode	Yearly, Half Yearly, Quarterly, Monthly (ECS Only)
Policy Term	15 to 35 Years
Basic Sum Assured	100000 and above ( in multiple of 5000)
Policy Revival	within 5 year
Premium Mode Rebate	2% on yearly, 1% on Half Yearly, Nil on Quarterly
Loan	After 3 years
Surrender	After 2 years

LIC Jeevan Anand Plan 915 Rebates

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This plan provides 2 types of discounts Mode Rebate and Sum Assured Rebate. Detailed Information about rebates is mention below.

Mode Rebate

              Yearly              – 2% on tabular premium

              Half yearly     – 1% on tabular Premium

Sum Assured Rebate

Sum Assured	Rebate
From Rs. 1,00,000/- to Rs. 2,00,000/-	NIL
From Rs. 2,00,000/- to Rs. 4,95,000/-	For every  1,000 Rs./- Sum Assured  1.50 Rs/- rebate
From Rs. 5,00,000/- to Rs. 9,95,000/-	For every  1,000 Rs./- Sum Assured  2.50 Rs/- rebate
From Rs. 10,00,000/- and above	For every  1,000 Rs./- Sum Assured  3.00 Rs/- rebate

Maturity and Death Benefits

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Maturity benefits and Death benefits are provided under LIC New Jeevan Anand plan 915.

Maturity Benefit

On completion of Premium Paying term, LIC Jeevan Anand Provides Maturity which is equal to Basic Sum Assured + Simple Revisionary Bonus + Final Addition Bonus (FAB), if Any. LIC declares Simple Revesionary Bonus or simply Bonus for each policy year during policy term.

Death Benefit

If the Insured person dies within the Policy Term then Nominee of the Policy will be given  Death Benefit Sum Assured on Death + Simple Reversionary Bonus + final additional bonus if any

Sum Assured on Death means 125% of Basic sum assured (1.25 x BSA) or 7 times Annual Premium (10 x AP) whichever is higher that amount will be paid to nominee.  Death benefit paid should not be less than 105% of total premiums paid upto the date of death.

LIC New Jeevan Anand plan 915 with an Example

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An example of Ramesh who is purchasing this Plan with following details.

Sum Assured	5,00,000
Policy Term	21 Years
Policy Purchase Year	2023
Age	30 Years
Yearly Premium	Rs. 28,327 / 27,717

CALCULATION DETAILS
Sum Assured: 500000	Age: 30	Term: 21
Death Sum Assured: 625000	AD & DB Sum Assured: 500000	Term Rider Sum Assured: 0
Death Sum Assured is higher of 125% of Basic Sum assured (625000) or 7 times of Annualised Premium (189749). So Death Sum Assured or Sum Assured on Death in this case will be 625000.
1st Year Premium Details (With GST @4.5%)
Yearly Half-yearly Quarterly Monthly 28327 14311 7230 2410
2nd Year Premium Onwards (With GST @2.25%)
Yearly Half-yearly Quarterly Monthly 27717 14003 7075 2358
Premium include Goods and Services Tax (GST). The present GST Rate for First Policy Year is 4.5%; and second year onwards the rate becomes 2.25%.
MATURITY DETAILS
Sum Assured Bonus (approx.) FAB (approx.) Total Maturity (approx.) 500000 483000 50000 1033000
Maturity of New Endowment plan is available after completion of Policy Term and maturity will be equal to Basic Sum Assured + Accumulated Simple Reversionary Bonus (Bonus) during policy term + Final Additional Bonus (if any) (FAB).
YEAR-WISE POLICY DETAILS
Year Age Paid Premium Normal Life Cover (Approx.) Accidental Life Cover (Approx.) 2023 30 28327 648000 1148000 2024 31 27717 671000 1171000 2025 32 27717 694000 1194000 2026 33 27717 717000 1217000 2027 34 27717 740000 1240000 2028 35 27717 763000 1263000 2029 36 27717 786000 1286000 2030 37 27717 809000 1309000 2031 38 27717 832000 1332000 2032 39 27717 855000 1355000 2033 40 27717 878000 1378000 2034 41 27717 901000 1401000 2035 42 27717 924000 1424000 2036 43 27717 947000 1447000 2037 44 27717 980000 1480000 2038 45 27717 1005500 1505500 2039 46 27717 1031000 1531000 2040 47 27717 1056500 1556500 2041 48 27717 1087000 1587000 2042 49 27717 1120000 1620000 2043 50 27717 1158000 1658000 2044 51 582667 Maturity Amount 1033000
Normal Life Cover = Death Sum Assured + Accumulated Bonus + FAB + Term Rider Sum Assured (If opted). Accidental Life Cover = Death Sum Assured + Accumulated Bonus + FAB + Basic Sum Assured+ Term Rider Sum Assured (If opted). To understand year-wise death claim, suppose death happens in year 2033, by that policy year, total paid premium will be 305497 and Normal Life Cover and Accidental Life Covers will be 878000 and 1378000 respectively. Please refer to highlighted row in the above table.";
Note: Above calculator has been developed to help you understand this plan better and; it is solely based on personal understanding of this plan. Bonus is based on already declared bonus rates of New Jeevan Anand Policy 915. FAB is based on declared FAB rate of similar plan group.

Plan Benefits for You	Amount
Guaranteed Sum Assured	500000
Bonus	483000
FAB	50000
Maturity Returns on 21th Years	1033000
After the maturity policy holder will be insurared with the same basic sum assured amount ( 500000) for life time (till 100 years).
Plan Benefits for Nominee/Family After You	Amount
On Death Before Maturity (Guaranteed Sum Assured)	625000
If Accidental Death (DAB Paid)	500000
As on death bonus paid	253000
As on death FAB paid	0
Term Rider Benefit (if Opted)	0
Total Payable to Nominee (Tax Free)	1378000

LIC new Jeevan Anand Policy 915 Additional Information

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Date of Commencement of Risk: Immediately.

Risk Coverage: End of the Policy Term.

Locking period: 2 years.

Loan Facility: Available after 3 years.

Income Tax Benefit - Income Tax Benefits available on Paid Life Insurance Premium U/Sec 80C and Maturity Benefit will also be tax free under section 10(10)D.

Riders available: You can opt for Accident and disability Benefit Rider, term rider and Critical Illness Rider by paying small Amount with the basic premium.

Policy Revival: Policy can be revived before 5 years from date of FUP.

Suicide Clause: If insured commit suicide before 12 months he will be returned back 80% of premium what he paid.

Proposal Forms : Proposal Form no. 300 will be used under this plan.

Cooling-off Period: If a policyholder is not satisfied with the Terms and Conditions of the policy, he/she may return the policy within 15 days from the date of receipt of the policy.

Backdating: The policies can be dated back within the same financial year.

Assignments/Nominations: assignment and nominations is possible under this plan.