LIC New Jeevan Anand Policy (815)

New Jeevan Anand (Table No: 815) is one of the most sold endowment plans of LIC, which provides Risk Cover even after maturity for lifetime. Accidental Death and Disability Benefit Rider makes this plan more beneficial as it provides additional amount equal to basic sum assured in case of death. This article provides comprehensive details of the policy and various benefits associated with New Jeevan Anand Plan with help of example.

Plan Parameters

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 2 year
Premium Mode Rebate 2% on yearly, 1% on Half Yearly, Nil on Quarterly
Loan After 3 years
Surrender After 3 years of full premium payment

Maturity & Life Cover (Death Claim) of Jeevan Anand

Maturity Benefits

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. Year-wise declared bonus for New Jeevan Anand has been given in Table-1.

Lifetime Risk Cover After Maturity

New Jeevan Anand has special feature which provides lifetime risk cover after maturity without any further premiums. In simple words, after completion of premium paying term, policyholder receives maturity as explained above and premium payment stops, but life cover equals to Basic Sum Assured still remains for life time.

Life Cover (Death Claim)

In case of death during the policy term, death claim will be 125% of Basic Sum assured + Accumulated Simple Reversionary Bonus + Final Addition Bonus, provided all due premium till the time of death are paid and policy is in force. Year-wise death claim has been explained in the example section in the later part of this page.

Table-1. New Jeevan Anand Bonus details ( per 1000 of Sum Assured)
Year 15 Years Term 16 to 20 Years Term 21 to 35 Years Term
2017-18 41 45 49
2016-17 41 45 49
2015-16 41 45 49
2014-15 41 45 49
2013-14 40 44 48

To know how total bonus is calculated, please click here.

Jeevan Anand Quick Learn


Surrender, Loan and Paid-up value in New Jeevan Anand

Policy Surrender in Jeevan Anand

Policy surrender is the most important feature that a customer should know before buying a policy. Surrender means, pre-mature closure of the purchased policy and receiving surrender value. LIC New Jeevan Anand Policy becomes eligible for surrender value, if all due premiums of first 3 years have been paid. For calculating and understanding surrender value, please go to Jeevan Anand Surrender Value Calculator.

Loan Facility in New Jeevan Anand

In LIC Jeevan Anand, a policy holder can avail loan after successfully paying all due premiums for first 3 policy years, in another words, a loan can be availed only if the policy has attained a surrender value. Generally, maximum loan available is 90% of surrender value. Please use Jeevan Anand Loan value calculator to know more about it.

Paid-up Feature of New Jeevan Anand

Once a New Jeevan Anand policy has completed minimum 3 years with all due premiums paid and policyholder chooses to stop paying further premiums, it automatically becomes eligible for paid-up option. In case of paid-up, benefits of the policy (Maturity and Death claims) reduced by factor of total number of premiums paid/ total number of premium to be paid. Go to Jeevan Anand Paid-up value calculator to know more about it.

Grace Period, Lapse and Revival in New Jeevan Anand

There is a grace period of 30 days for Yearly, Half-yearly & Quarterly modes and 15 days for monthly mode from due date of premium payment. For example, if yearly premium is due on 10th June, then policyholder has time till 10th July to deposit premium without policy being lapsed.

If premium is not deposited before due date including grace period, then policy lapses. A lapsed policy can be revived by paying due premiums along with late fee within 2 years from first unpaid premium.

Cooling-off Period in New Jeevan Anand

Cooling-off means, a policyholder can return the purchased policy(s) within 15 days from receipt of policy document(s), if he is not satisfies with Terms & conditions of the policy(s). On cooling-off request, policy is cancelled and paid premium is returned after deduction of proportionate premium, medical test cost, clerical charges etc.

Optional Riders with New Jeevan Anand

Following riders are available with New Jeevan Anand on payment of additional premium.

  • Accidental Death and Disability Benefit Rider
  • Term Rider

Tax Benefits

Paid premium under New Jeevan Anand is exempted under section 80c and received maturity or death claim is tax free under section 10(10D) of Income Tax act.

Jeevan Anand (815) Policy with Example

To Illustrate the benefits of New Jeevan Anand, Lets take an example of a person who is purchasing New Jeevan Anand Plan with following details.

Sum Assured (Rs.)5,00,000
Age (Years)25
Policy Term(Years)25
Purchase Year2017
Yearly Premium (Rs.)21,472
Total Paid Premium (Approx)(Rs.)5,36,800

(To know premium and benefits as per your details, please use Premium Calculator and Maturity Calculator for this plan.)

After taking policy as above details, there are two possible cases are, either policy holder survives 25 years policy term or death happens before 25 years.

Case:1 (Maturity Details)

If policy holder survives the policy term (25 years), Maturity will be as under.

Maturity Year2042
Age at Maturity50
Sum Assured (A)500000
Bonus (Approx) (B)837500
Total Maturity (A+B)1337500

Normal Risk Cover continues even after maturity. Following table provides details of year-wise risk cover.

Year Age Normal Life Cover
2042+ 50+ 500000

Case:2 (Death Claim Details)

If death happens during the policy term ( Before 25 years ), 125% of Sum Assured + Bonus + Final Addition Bonus(FAB) is paid to nominee and it is indicated as Normal Life Cover. In case of accidental death, additional amount equal to sum assured is also added death claim amount, the calculation is indicated as Accidental Life Cover. Calculation of year-wise and age-wise death benefits according to accumulated bonus and FAB is illustrated below.

Year Age Premium Deposited Normal Life Cover (Approx) Accidental Life Cover (Approx) Return
2017 25 21,472 6,25,000 11,25,000 --
2018 26 42,944 6,55,625 11,55,625 --
2019 27 64,416 6,86,250 11,86,250 --
2020 28 85,888 7,16,875 12,16,875 --
2021 29 1,07,360 7,47,500 12,47,500 --
2022 30 1,28,832 7,78,125 12,78,125 --
2023 31 1,50,304 8,08,750 13,08,750 --
2024 32 1,71,776 8,39,375 13,39,375 --
2025 33 1,93,248 8,70,000 13,70,000 --
2026 34 2,14,720 9,00,625 14,00,625 --
2027 35 2,36,192 9,31,250 14,31,250 --
2028 36 2,57,664 9,61,875 14,61,875 --
2029 37 2,79,136 9,92,500 14,92,500 --
2030 38 3,00,608 10,23,125 15,23,125 --
2031 39 3,22,080 10,53,750 15,53,750 --
2032 40 3,43,552 11,03,125 16,03,125 --
2033 41 3,65,024 11,36,875 16,36,875 --
2034 42 3,86,496 11,73,750 16,73,750 --
2035 43 4,07,968 12,10,625 17,10,625 --
2036 44 4,29,440 12,63,125 17,63,125 --
2037 45 4,50,912 13,00,000 18,00,000 --
2038 46 4,72,384 13,61,875 18,61,875 --
2039 47 4,93,856 14,36,250 19,36,250 --
2040 48 5,15,328 15,16,875 20,16,875 --
2041 49 5,36,800 15,78,750 20,78,750 --
2042 50 -- -- -- 13,37,500

Features of the plan written on this web page based on personal understanding and solely for explanation purpose only. In the example part, the Bonus rate has been taken as Rs. 49 per thousand of sum assured which is as per last declared and FAB rate as Rs. 450 per thousand of sum assured. for More details, please refer to LIC Website and in case of any query please write your comment below.

Comments & Reviews (246)

Wrote :

24-11-2018 17:29:21

Could you please tell what will be the maturity amount of I pay monthly rs.2,500 and for 21 years from now....my age is 24...is that I get bonus and fab for this plan? ...please tell in full details including bonus and fab

Wrote :

26-11-2018 15:35:05

Please go this this LINK.

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Wrote :

13-11-2018 22:04:32

Can any body withdraw the risk cover amount after the maturity of a policy in connection with LIC JEEVAN ANAND.

Wrote :

14-11-2018 08:57:55

Yes, but not in full as it will be a case of surrender. For reference, you can use Post Maturity calculator of Old Jeevan Anand (149) to learn more about it.

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Wrote :

12-11-2018 12:23:41

What is the rate of return of this policy for a 20 year period ? How do I calculate it ?

Wrote :

14-11-2018 22:12:31

What is your sum assured?

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Wrote :

19-10-2018 05:58:39

Can a NRI or an Overseas Citizen of India (OCI card holder) can have this insurance?

Wrote :

20-10-2018 08:33:02

Yes, NRIs and OCIs are eligible for this plan.

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Wrote :

14-10-2018 23:25:23

When will LIC Jeevan Anand policy be available online platform ?

Wrote :

15-10-2018 13:31:46

We do not have any information about it as yet.

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Wrote :

09-10-2018 23:24:51

What is different of term rider and DAB????

Wrote :

12-10-2018 00:13:51

Term rider is explained below and DAB is Disability and accidental death benefit (DAB). The DAB provides extra benefit in case of accidental disability or accidental death.
In case of accidental disability, it provides sum assured in Equal monthly installment spread over 10 years.
In case death due to an accident (within 180days of accident), extra amount equal to sum assured is given along with death claim of the base plans.

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Wrote :

07-10-2018 21:41:01

What is term rider in policy??

Wrote :

07-10-2018 22:18:35

Term rider Provides additional benefit which can be taken along with basic plans like Jeevan Anand, Jeevan Labh etc. Term rider provides additional death claim amount equal to rider sum assured (Generally equal to basic sum assured of base plan) in case of death during policy term.
For example, if there is a Jeevan Anand policy with 10,00,000 basic sum assured along with term rider and death happens after 1 year, then death claim of basic plan will be 12,50,000 + Bonus, but since rider has been taken, so death claim amount will be 22,50,000 + Bonus.
Please note, Term rider does not provides any benefits if policy holder survives policy term.

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Wrote :

06-10-2018 00:41:47

Is jeevan labh has risk cover after maturity??

Wrote :

06-10-2018 00:50:20

Jeevan Labh does not have life coverage after maturity. Jeevan Anand has this feature.

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Wrote :

01-10-2018 14:26:23

Does this policy cover operation charges also. If someone has to undergo gall stones operation will it cover?

Wrote :

02-10-2018 15:41:22

No, it does not provide any medical cover.

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Wrote :

23-09-2018 09:56:00

If a person dies after paying 1 yearly premium then he will receive 125000 for 1 lac policy. Please confirm whether any bonus for 1 year is payable with death claim or not. Thanks

Wrote :

23-09-2018 10:37:09

Yes, for 100000 sum assured, the death claim will be 125000 + Bonus. Please note, bonus along 125000 will be applicable if policy completes one year.

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Wrote :

21-09-2018 03:45:52

Jeevan anand 815 table after maturity accidental benifit risk cover S A Ka katana risk cover hai

Wrote :

21-09-2018 07:13:32

After maturity, only normal death cover remains, means no extra benefit in case of accidental death.

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Wrote :

17-09-2018 12:17:52

how this plan is purchased online ?

Wrote :

17-09-2018 12:39:10

It is not available for online purchase.

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Wrote :

12-09-2018 13:58:19

IS THEIR ANY OTHER BENEFITS AFTER THE RECEIVED OF MATURITY AMOUNT ON THE COMPLETION OF MATURITY PERIOD IN JEEWAN ANAND 815

Wrote :

12-09-2018 21:56:49

After receiving maturity, you will have life time risk cover equal to basic sum Assured with paying any further premium.

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Wrote :

03-09-2018 16:04:57

I have purchased LIC Jeevan Anand 815 plan for 16 years and I have completed 3 yearly installments so now if I will close my policy so I will get return the 3 installments money back or some amount will be deducted. In the Surrender Value Calculator shows bonus amount and surrender amount, which one we will be getting in hand. if you could provide me detail description, will be appreciated.

Wrote :

03-09-2018 17:37:28

It is the surrender amount that you will get.

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Wrote :

28-08-2018 16:58:22

For this plan New Jeevan Anand (Plan-815) is there any money back plan and which year we are eligible to applicable for loan(for example i started 2017).

Wrote :

28-08-2018 22:51:09

New Jeevan Anand is not a money back plan, maturity amount is paid on completion premium paying term. Loan is available after paying First 3 years' premium.
Go to: Loan Calculator

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Wrote :

27-08-2018 15:21:02

I have a policy of New jeevan anand (Plan-815), paying a premium of 101364/ Year for 18yrs sum assured is 1600000. what would be my return amount i will be getting at the end of policy.

Wrote :

28-08-2018 22:47:07

Please use this Maturity Calculator to calculate approx benefits yourself.

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Wrote :

17-08-2018 17:21:19

I have policy 815, instalment is half yearly can you please tell me, is there any grace period on given date of instalment.

Wrote :

17-08-2018 18:27:27

There is a grace period of 30 days.

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Wrote :

09-08-2018 17:38:41

why mostly prefer jeevan anand in an endowment plan why not other endowment plans? what is the special feature of this policy

Wrote :

12-08-2018 20:23:13

It's special feature is life time risk cover even after maturity that too without paying any premium.

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Wrote :

31-07-2018 13:48:48

Does a person get 50% of the sum assured as bonus at 60 after completing the policy period

Wrote :

31-07-2018 18:40:45

There is no farmula as 50% of sum Assured for bonus. Bonus is declared per thousand of sum Assured per year and it is keep accumulating during policy term.

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Wrote :

23-07-2018 14:42:12

Can I shift Quarterly premium payment to Half Yearly or Annually payment mode in New Jiwan Anand Policy (Plan 815)? If yes, How?

Wrote :

24-07-2018 14:28:00

Yes, please approach your branch for this.

Write CommentReply

Wrote :

12-07-2018 23:01:17

I have purchased lic Jeevan Anand 815 plan for 15 years and I have completed 3 yearly installments so now if I will close my policy so I will get return the 3 installments money back or some amount will be deducted.

Wrote :

14-07-2018 21:18:11

Please find link of surrender value calculator above.

Write CommentReply

Wrote :

12-07-2018 21:09:10

what is first intallment table no. 815

Wrote :

14-07-2018 21:13:44

It will depend upon sum assured, age an policy term.

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Wrote :

08-07-2018 08:57:01

Dear sir I have 2 questions for you 1. If nominee die first can i change nominee? 2. If both policy holder and nominee died who will clime the policy for benefits? Please tell me

Wrote :

09-07-2018 02:32:26

  1. Nominee can be changed at any point of time during policy term.
  2. In case of death of both policy holder and nominee, the claim will be credited to legal heirs of the policyholder.

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Wrote :

02-07-2018 13:53:41

I want to change my existing plan of 35 years maturity to 25 years. Policy was purchased in June 2018. What to do ?

Wrote :

03-07-2018 00:24:33

It will be better if you cancel the earlier one and take new one. Please use cooling off option to close the one which is with 35 years term and take new one.

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Wrote :

26-06-2018 20:02:03

Firstly, Thanks for the details I have a doubt... If a policy holder survives and gets all his maturity amount and after some years he/she dies with normal death. In this case how that life cover works?

Wrote :

27-06-2018 22:48:19

Policy holder's nominee will get an amount equal to sum assured as death claim and policy will close.

Wrote :

28-06-2018 05:03:00

Thanks a lot for the details

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Wrote :

23-03-2018 12:57:00

hello sir j have two question for you 1. how i can make correction in nominee name 2. how i can transfer branch of my lic815 plans is it online possible

Wrote :

25-03-2018 10:41:34

For both, you have to visit your branch.

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Wrote :

20-02-2018 11:03:27

Thanks for the information

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Wrote :

02-12-2017 16:25:20

if after paying 3 premiums person will dies how much nomini will get..?

Wrote :

02-12-2017 20:32:47

125% of sum assured plus bonus for 3 years.

Wrote :

08-02-2018 21:28:33

its nice expalination, cool

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Wrote :

07-11-2017 05:54:41

Sir, in above example ..there is no clarification of accidental risk over amount after getting maturity .. So William plz tell me the aprox amount of accidental risk cover after getting maturity of( 10 lk sum assured for 15years )..?

Wrote :

07-11-2017 12:39:51

After maturity, there is no additional benefit in case of accidental death. So, in case death either normal or accdental, the death claim will be equal to basic sum assured.

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Wrote :

25-10-2017 00:23:22

Please tell me that the total amount which is being paid after maturity is completely tax free or not.

Wrote :

26-10-2017 00:37:13

Yes, it will be tax free.

Wrote :

03-11-2017 17:27:03

Sir better than this plan is our tata AIA's Super income plus regular income plan . Tax free Total payment period is start from 7 years to 21 years .you can choose any period . For good details and for the best financial plan contact me. 7907700378 My number Mhdalfas75@gmail.com My email . Contact me

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