LIC’s New Jeevan Anand Plan Table No. 815

LIC’s new Jeevan Anand Plan is the non linked plan which is the combination of Savings and Protection against death and disability. This plan has a good side that after maturity Risk Cover of the Basic Sum Assured will continue up to the age of 99 Year.

Sum assured: Minimum limit for the sum assured is Rs. 1 lakh and there is no maximum limit.

Policy Term: The minimum term is 15 years and the maximum term is 35 years. Last Premium Payment should not exceed 75 Years age. Suppose if Someone takes policy at the age of 50 years then Maximum Term for that person should be 25 Years.

Entry Age: The minimum entry age of the policyholder should be 18 years and the maximum age limit is 50 years.

Maximum Maturity Age: 75 Years. Death Cover will be continuing until the age of 99 Year.

Premium Payment Mode: Premium can be paid Monthly, Quarterly, Half Yearly or Yearly.

Maturity Benefits: on maturity, basic sum assured along with vested simple reversionary bonus and a final additional bonus is paid to the policy holder.

Death Benefits

If the death of the policyholder happens before the commencement of risk, your nominee will be refunded the premiums paid (excluding taxes). If the Death happens after the commencement of risk, the nominee will get:
Base Sum Assured + Simple Reversionary Bonus (every year) + Final Additional Bonus (applicable in the year of death)

Rider benefits: Accidental Death benefit is available during the policy term; accident benefit sum assured will be paid along with death benefit under the basic plan. Disability benefits are paid till 70 years of age of the policy holder.

Income Tax Benefit: Premium paid in this policy is tax exempted under section 80C. The maturity benefits are also exempted from tax under section 10 (10D).

Liquidity Benefit: Policy holder can take a loan under this policy after completion of 3 full years of the Policy.


LIC New Jeevan Anand a good plan that combines protection with savings. Other benefits like tax benefits, loan facility and rider benefits make the policy more attractive.

An example of Jeevan Anand Plan, 815.

Suppose Hitesh is going to apply for policy 815 and his age is 30 year for the Basic Sum Assured Rs. 1000000, for the term of 25 years. Following are Key points of the policy.

Jeevan Anand Table 815

Age: 30 Year

Premium Paying Term: 25 Year

Term: 25 Year

Basic Sum Assured: Rs. 10,00,000

Double Accidental Benefit: Rs. 10,00,000

Death Sum Assured: Rs.12,50,000 (25 % Extra on BSA)

Premium for First Year Hitesh will have to pay:  45787

From Second year Onward Premium will be Rs. 44801

Total Premium Paid will be Rs. 1121011

Approximate Maturity Return: Rs. 2675000

Approximate Total Return will be Rs. 2675000

After maturity of Policy terms Life Time Risk Cover of Rs. 1000000/- (Basic Sum Assured) will continue until the age of 99 years. 

Total Return Can be summed up the amount received at maturity and life time Rick cover that is approximately Rs. 36,00,000/-

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