New Jeevan Anand Plan 915

Launched on 1st February 2020, the LIC New Jeevan Anand Plan 915 (Table No. 915) is a non-linked, participating endowment-cum-whole life insurance policy. This plan offers guaranteed maturity benefits along with lifetime risk cover, making it a powerful savings and protection tool for your future and your family’s financial security.

The most unique feature of this plan is the “double death benefit” — you receive a lump sum at maturity, and after that, the policy continues to provide life cover till age 100, without paying any more premiums.

Table of Contents

🔍 Key Highlights of LIC New Jeevan Anand 915

🛡️ Endowment + Whole Life Coverage: Get maturity benefits plus lifetime coverage.
💰 Double Death Benefit Plan: One payout at maturity and another to nominee after death.
📈 High Bonus Potential: Participates in LIC’s profits through Simple Reversionary Bonus & Final Additional Bonus (FAB).
🩺 Rider Options: Enhance protection with Accidental Death, Disability, and Critical Illness Riders.
💸 Tax Benefits: Premiums under Section 80C, and Maturity/Death proceeds are tax-free under Section 10(10D).
🔁 Policy continues even after maturity, providing risk cover till 100 years of age.

📋 Eligibility & Policy Details

Parameter	Details
Entry Age	18 to 50 years
Policy Term	15 to 35 years
Basic Sum Assured	₹1,00,000 and above (multiples of ₹5,000)
Premium Modes	Yearly, Half-Yearly, Quarterly, Monthly (ECS)
Loan Facility	Available after 3 years
Surrender	Allowed after 2 full policy years
Policy Revival	Within 5 years of the first unpaid premium
Lock-in Period	2 years
Risk Cover	Till 100 years of age

💸 Premium Rebates

1. Mode Rebate

Payment Mode	Rebate on Tabular Premium
Yearly	2%
Half-Yearly	1%
Quarterly	Nil
Monthly	Nil

2. High Sum Assured Rebate

Basic Sum Assured	Rebate per ₹1,000 Sum Assured
₹1,00,000 – ₹1,95,000	Nil
₹2,00,000 – ₹4,95,000	₹1.50
₹5,00,000 – ₹9,95,000	₹2.50
₹10,00,000 & above	₹3.00

✅ Benefits of LIC New Jeevan Anand Plan 915

1. Maturity Benefit

Upon completing the premium paying term:

Basic Sum Assured
- Accumulated Simple Reversionary Bonus
- Final Additional Bonus (if any)

2. Death Benefit (Before Maturity)

If the policyholder passes away during the policy term:

Sum Assured on Death
(Higher of 125% of BSA or 7 times annual premium)
- Bonuses (SRB + FAB)
- Rider Sum Assured (if opted)

Note: Death benefit will never be less than 105% of total premiums paid (excluding GST and rider premiums).

3. Death Benefit (After Maturity)

Even after the maturity is paid, the policy continues to offer life cover equal to the Basic Sum Assured till age 100. On death, the nominee receives that amount, again tax-free.

🧾 Example Illustration: LIC Jeevan Anand 915

Let’s take an example of Mr. Ramesh, age 30 years.

🧮 Maturity Calculation (Approx.)

Component	Amount (₹)
Basic Sum Assured	₹5,00,000
Simple Bonus (Est.)	₹4,83,000
Final Additional Bonus	₹50,000
Total Maturity Value	₹10,33,000

➡️ This is received at the end of 21 years, while life cover continues till age 100.

☠️ Death Benefit Calculation (Before Maturity)

Benefit Component	Amount (₹)
Sum Assured on Death	₹6,25,000
Accumulated Bonus (approx.)	₹2,53,000
Final Additional Bonus	₹0 (if early death)
Accidental Benefit (if opted)	₹5,00,000
Term Rider (if opted)	₹0
Total Death Benefit (Accidental)	₹13,78,000

📊 Year-wise Premium & Coverage Summary

Year	Age	Paid Premium (₹)	Normal Cover (₹)	Accidental Cover (₹)
2023	30	₹28,327	₹6,48,000	₹11,48,000
2024	31	₹27,717	₹6,71,000	₹11,71,000
2025	32	₹27,717	₹6,94,000	₹11,94,000
…	…	…	…	…
2044	51	₹27,717	₹11,58,000	₹16,58,000
2045	52	₹5,82,667 (Total Premium Paid)	Maturity ₹10,33,000	–

📌 Additional Information

Feature	Details
Risk Commencement	Immediate upon policy start
Loan Facility	After 3 full years
Policy Revival	Within 5 years from date of lapse
Suicide Clause	80% of premium returned if death within 12 months
Cooling-Off Period	15 days from receipt of policy document
Tax Benefits	Premiums under 80C, Maturity under 10(10D)
Backdating Allowed	Within same financial year
Proposal Form	Form No. 300
Assignment/Nomination	Allowed

🎯 Final Summary of LIC Jeevan Anand 915

Particulars	Amount (₹)
Maturity (After 21 Years)	₹10,33,000
Lifetime Cover (Post Maturity)	₹5,00,000 (till age 100)
Total Premium Paid	₹5,82,667
Accidental Death Benefit (Before Maturity)	₹13,78,000

Why Choose LIC New Jeevan Anand 915?

🔐 Lifetime risk coverage even after maturity
💹 High bonus potential
💰 Tax-free returns
🧾 Loan facility, liquidity, and optional riders
👪 Comprehensive protection for your family