New Jeevan Anand Plan 915
New Jeevan Anand Plan 915: Why LIC New Jeevan Anand 915 is Called “Zindagi Ke Saath Bhi, Zindagi Ke Baad Bhi”?
When we talk about life insurance in India, one of the most trusted names that immediately comes to mind is the Life Insurance Corporation of India (LIC). Over the years, LIC has introduced several plans to meet the unique needs of Indian families. Among these, LIC New Jeevan Anand Plan 915 stands out as one of the most popular and powerful endowment plans.
This plan is famously known as “Zindagi ke saath bhi, Zindagi ke baad bhi”, which perfectly describes its unique feature – it not only provides financial protection during the policy term but also ensures a lifetime risk cover even after maturity.
What is LIC New Jeevan Anand Plan 915?
LIC New Jeevan Anand Plan 915 is a non-linked, participating, endowment plan. It offers the dual benefit of:
- Savings + Guaranteed Returns at the end of the policy term
- Lifetime Insurance Cover even after maturity
This makes it one of the best plans for Indians who want long-term wealth creation, insurance protection, and lifelong peace of mind.
Key Features of New Jeevan Anand Plan 915
- ✅ Endowment + Whole Life Cover (unique feature)
- ✅ Lifetime insurance cover, even after policy maturity
- ✅ Bonus & Final Additional Bonus included
- ✅ Loan facility available after 3 years
- ✅ Rider benefits available (Accidental Death, Disability Benefit, etc.)
- ✅ Tax benefits under Section 80C & 10(10D)
- ✅ Flexible premium modes – yearly, half-yearly, quarterly, monthly
Eligibility Criteria – LIC New Jeevan Anand 915
| Particulars | Details |
|---|---|
| Plan Name | LIC New Jeevan Anand (915) |
| Minimum Entry Age | 18 years |
| Maximum Entry Age | 50 years |
| Maximum Maturity Age | 75 years |
| Minimum Sum Assured | ₹1,00,000 |
| Maximum Sum Assured | No Limit |
| Policy Term | 15 to 35 years |
| Premium Payment Term | Same as policy term |
| Loan Facility | After 3 years |
| Riders Available | Accidental Death, Disability, Critical Illness |
| Tax Benefits | 80C & 10(10D) applicable |
Benefits of LIC New Jeevan Anand Plan 915
1. Maturity Benefit
If the policyholder survives the term:
👉 Sum Assured on Maturity + Bonuses + Final Additional Bonus
2. Death Benefit (During Policy Term)
👉 Sum Assured on Death + Bonuses + Final Additional Bonus
Where Sum Assured on Death is:
- Higher of 125% of Basic Sum Assured OR 10 times of Annual Premium
- Minimum: 105% of premiums paid
3. Death Benefit (After Policy Maturity)
Even after maturity, the life cover continues for the whole life (till death). The nominee gets the Basic Sum Assured in case of policyholder’s death post-maturity.
4. Bonuses
Being a participating plan, LIC declares Simple Reversionary Bonuses & Final Additional Bonus, enhancing the maturity value.
5. Loan Facility
Policy loan available after 3 years.
6. Tax Benefits
- Premiums eligible under Section 80C
- Maturity/Death proceeds tax-free under Section 10(10D)
Example with Premium & Maturity Illustration
Example: Mr. Ramesh, Age 30 years, takes LIC New Jeevan Anand Plan 915 with Sum Assured ₹5,00,000 for 25 years.
| Particulars | Details |
|---|---|
| Age | 30 years |
| Policy Term | 25 years |
| Sum Assured | ₹5,00,000 |
| Annual Premium | ₹22,500 approx. |
| Total Premium Paid | ₹5,62,500 |
| Maturity Value (SA + Bonus + FAB) | ₹9,50,000 – ₹10,50,000 approx. |
| Life Cover After Maturity | ₹5,00,000 (for lifetime) |
👉 So, Ramesh invests around ₹22,500 annually and gets approx. ₹10 lakh at maturity + ₹5 lakh life cover for life.
Investor Scenarios
Scenario 1 – Young Professional (Age 25, SA ₹3 lakh, Term 30 years)
- Pays ~₹12,000 annually
- Total paid ~₹3.6 lakh
- Maturity ~₹6.5 lakh
- Lifetime cover ₹3 lakh
Scenario 2 – Middle-Aged Family Man (Age 40, SA ₹7 lakh, Term 20 years)
- Pays ~₹38,000 annually
- Total paid ~₹7.6 lakh
- Maturity ~₹13 lakh
- Lifetime cover ₹7 lakh
Scenario 3 – Business Owner (Age 35, SA ₹10 lakh, Term 25 years)
- Pays ~₹45,000 annually
- Total paid ~₹11.25 lakh
- Maturity ~₹20 lakh
- Lifetime cover ₹10 lakh
Real-Life Examples
- Sunil (Age 28): Paid ₹15,000 yearly for 25 years, received maturity ~₹7.5 lakh, and still covered for ₹4 lakh life cover.
- Mahesh (Age 42): Took ₹5 lakh policy, matured at ~₹9.5 lakh, family continues to be covered for ₹5 lakh.
- Rajeev (Age 38): Premium ~₹40,000 yearly, maturity ~₹18 lakh, continues to enjoy lifelong protection.
Analyst Opinions on LIC New Jeevan Anand Plan 915
- Insurance Experts: “It’s the best combination of wealth creation + lifelong insurance cover.”
- Financial Analysts: “While returns are moderate compared to mutual funds, the unique post-maturity life cover makes this plan stand apart.”
- Tax Planners: “An excellent tool for tax saving + guaranteed returns + insurance protection.”
Advantages & Limitations
Advantages
✅ Life cover continues even after maturity
✅ Safe, guaranteed returns + bonuses
✅ Loan facility available
✅ Tax benefits
✅ Suitable for both young & middle-aged investors
Limitations
❌ Returns lower compared to equity/mutual funds
❌ Long-term commitment required
❌ Premiums may feel high for large covers
LIC New Jeevan Anand 915 vs LIC New Endowment 914
| Feature | Jeevan Anand 915 | Endowment 914 |
|---|---|---|
| Maturity Benefit | SA + Bonus + FAB | SA + Bonus + FAB |
| Life Cover Post-Maturity | Yes | No |
| Plan Type | Endowment + Whole Life | Endowment Only |
| Target Audience | Long-term investors seeking lifelong cover | Investors seeking guaranteed savings |
FAQs
Q1. What is LIC New Jeevan Anand Plan 915?
A participating endowment plan with lifetime insurance cover even after maturity.
Q2. What is the minimum sum assured?
₹1,00,000 minimum, no maximum limit.
Q3. How long is the life cover?
Life cover continues even after maturity, for the lifetime of the policyholder.
Q4. Are loans available in this plan?
Yes, after paying 3 years of premiums.
Q5. Can I surrender this policy?
Yes, surrender value is available after 3 years.
Q6. Is this plan good for tax savings?
Yes, under 80C (premiums) and 10(10D) (maturity/death benefits).
Q7. Which is better – Jeevan Anand 915 or Endowment 914?
Jeevan Anand 915 is better if you want life cover even after maturity.
Q8. Who should buy Jeevan Anand 915?
- Young professionals for long-term wealth + cover
- Middle-aged family men for children’s future + lifelong security
- Business owners seeking safe investment
Final Thoughts – Should You Invest in LIC New Jeevan Anand Plan 915?
LIC New Jeevan Anand Plan 915 is a legendary LIC plan because of its unique benefit – life cover even after maturity. While other plans end with maturity, this plan ensures that your family remains protected throughout your lifetime.
It is best suited for middle-class Indian families, professionals, and business owners who want:
- ✅ Guaranteed savings
- ✅ Lifetime insurance protection
- ✅ Tax benefits
- ✅ Peace of mind
👉 If you are looking for a safe, disciplined, and long-term financial planning tool, LIC New Jeevan Anand Plan 915 is definitely worth considering.
