LIC Jeevan Anand

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.

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.

Related Link: New Jeevan Anand Maturity and Death Benefit Calculator

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


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

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 (262)

Wrote :

10-03-2019 09:40:46

I have started my Jeevan anand Policy in Feb 2017 for a period of 20 years. Since you mentioned above there is no New jeevan anand policy now I believe it is better in post maturity benefits. Could my existing policy be upgraded to New jevan anand, when it is put into effect.

Wrote :

10-03-2019 14:35:50

If you have started your policy in 2017, then it is New Jeevan Anand (815). You cannot upgrade old one to new one and you should not upgrade.

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Wrote :

04-03-2019 00:45:57

In new jeevan anand after the policy matures & person claims the sum assured +bonus+FAB. The basic sum assured continues but what if after maturing the person dies due to accident. Will that be covered in this.

Wrote :

04-03-2019 12:57:20

There is no extra benefit in case of accidental death, means, it will be same as basic sum assured.

Wrote :

04-03-2019 13:35:25

Hi, thanks for the response. But, above ilustration shows accidental life cover. But, lic site doesn't say anything about accidental cover in new jeevan anand policy, does that mean accidental life cover pre-exist in the policy & ceases after normal maturity where no one dies

Wrote :

04-03-2019 17:21:26

The basic Jeevan Anand plan does not have additional accidental benefit, it is accidental rider which is mostly sold with Jeevan anand provides this benefit which is applicable during premium paying term.

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Wrote :

02-03-2019 11:05:19

How can I ensure that I had taken any rider while purchasing new Jeevan anand policy without referring to the policy document?

Wrote :

03-03-2019 12:11:05

You can find it on your policy document other wise your can use premium calculator to verify it.

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Wrote :

27-02-2019 18:16:47

Hello sir, I have one question in this jeevan ananda policy if the policy holder died after paying premium amount of one year than whether he could get any amount?

Wrote :

27-02-2019 21:49:47

Yes, in this case, policyholder's nominee will get 125% of Sum Assured + Bonus for 1 year.

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Wrote :

25-02-2019 21:04:47

Hi, is medical essential in this insurance ?

Wrote :

27-02-2019 21:55:16

Yes medical may be required and it will depend upon sum assured, age and health condition.

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Wrote :

22-02-2019 18:40:25

Hi, May I know the difference between New LIC JEEVAN ANAND(835) vs JEEVAN LABH (836) and which one is best ,please guide me in detail

Wrote :

25-02-2019 02:06:26

Jeevan Anand is a whole life plan which provides maturity after completion of premium paying term and after maturity premium payment stops, but life cover equals to sum assured remains for life time which is not available in Jeevan Labh. Jeevan Labh is a limited premium endowment plan, for example, you pay premium for 10 years and wait for 16 years to take maturity.

Wrote :

25-02-2019 20:40:26

Thanks a lot for ur reply , it is really very helpful. Finally suggest me a good policy in terms of either good returns for my 1yr old kid.

Wrote :

27-02-2019 02:36:27

For one year kid, you should have some thing that protect your child's future in case of your absence. You may learn about Jeevan Lakshya which will be good for the kid.

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Wrote :

10-02-2019 13:05:27

I wish to LIC JEEVAN ANAND OR JEEVAN SHANTI POLICY. MAY I KNOW THE DIFFERENCE BETWEEN AND WHICH IS MORE BENEFIT. PLUS AND MINUS

Wrote :

10-02-2019 13:38:54

Jeevan Anand is regular premium (15 yearly premiums if term is 15 years) and it provides one time maturity on completion of policy term. While Jeevan shanti is single premium pension plan which provides, on payment of single premium, regular pension (yearly, Half Yearly, Quarterly or Monthly) as long as Policy holder survives.

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Wrote :

07-02-2019 22:49:16

New Jeevan Anand Plan 815 can be converted to pension plan after maturity. Please let me know.

Wrote :

07-02-2019 22:54:13

Jeevan Anand will give you maturity amount, pension is not part of it. You can buy any pension plan available at time just like paying any money for it.

Wrote :

07-02-2019 23:03:46

But when i took this plan agent told me that its your will, u can take the full maturity amount in single go or convert it in pension plan.

Wrote :

07-02-2019 23:42:00

It is same as said above. When your maturity is due, then you can inform LIC that I want to purchase this particular plan with my maturity amount and a separate policy will be issued to you.

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Wrote :

05-02-2019 16:08:56

Sir/Madam, while continuing premium, if policy holder and nominee both dies, then who will get the amount?

Wrote :

05-02-2019 17:20:08

Legal heir of the policyholder will get the death claim amont.

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Wrote :

05-02-2019 10:53:53

I have policy 815..how to check the status of policy due date and so on all details in which app

Wrote :

06-02-2019 23:57:55

Please create policyholder account on LIC customer portal using following link.
https://www.licindia.in/Home-(1)/LICOnlineServicePortal

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Wrote :

04-02-2019 01:34:43

Sir you mean, after maturity if I die in accident. My family will not get sum assured amount as it is claimed in policy....

Wrote :

04-02-2019 13:34:25

In case of death after receiving maturity, your nominee will get sum assured amount as death claim.

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Wrote :

02-02-2019 11:43:00

i have New Jeevan Anand (Plan-815). if after 3yrs i want to take loan (Say 5lac) then what would be the rate of interest.

Wrote :

02-02-2019 15:52:56

It is 9% compounding half yearly at present.

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Wrote :

29-01-2019 14:05:49

my age is 42 can i take jeevan anand plan? which one is best jewan anand or new jeewan anand? Normal death cover of policy holder is also covered in it or not? what will be the maturity sum in my case? tell me all?

Wrote :

29-01-2019 18:38:00

Currently, Only Jeevan Anand plan is available and yes, you can take new jeevan anand for you. Both normal and accidental deaths are covered. Maturity will depend upon purchased sum assured and policy term. Please use above calculator to calculate appropriate benefits of this plan and learn more about this plan.

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Wrote :

02-01-2019 21:08:44

I have completed paying my premiums for LIC Jeevan Anand 149. Where and how do I surrender the original document and get the sum due to me?

Wrote :

02-01-2019 21:14:35

Please visit your policy issuing branch.

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Wrote :

02-01-2019 15:54:33

LIC Plan no-815 - After receiving maturity, I will have life time risk cover equal to basic sum Assured without paying any further premium. Sir explain risk cover ( normal or accidental) on death payment received to nominee.

Wrote :

02-01-2019 20:21:35

After maturity, you will not have to pay premiums and after receiving maturity, if death happens, your nominee will get basic sum assured.

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Wrote :

14-12-2018 15:12:49

For any LIC and mediclaim policy requirements please feel free to reach me @ 9830597138. Kolkata and nearby areas.

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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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