New Jeevan Anand 715
LIC New Jeevan Anand 715 – LIC of India launched a new plan on 1st. October 2024, which name is LIC New Jeevan Anand Plan 715 is whole life plan with Guaranteed Returns and Protections because it is not market based plan.You can buy now online LIC new jeevan anand plan 715 through credit card/debit card, net banking, upi and wallets on our LIC’s New Business Platform.
Life Insurance Corporation of India (LIC) has long been the backbone of Indian households when it comes to financial security and guaranteed returns. Among its most popular offerings is the LIC New Jeevan Anand Plan 715—a plan often called the “Combination of Endowment and Whole Life Insurance”.
This plan is not just about savings and protection during the policy term—it goes a step ahead. Even after the maturity payout, the risk cover continues for life, making it one of LIC’s most unique and powerful insurance-cum-investment products.
In this article, we’ll take a deep dive into LIC New Jeevan Anand 715, exploring its features, benefits, maturity values, investor scenarios, analyst insights, FAQs, and why it remains a preferred choice for Indian families.
What is LIC New Jeevan Anand Plan 715?
LIC New Jeevan Anand 715 is a non-linked, participating endowment policy that combines the benefits of savings + insurance + lifelong risk cover.
Here’s what makes it special:
- It provides financial protection in case of the policyholder’s death (even after maturity).
- Offers a lump sum maturity benefit if the policyholder survives the policy term.
- Ensures bonuses through LIC’s profit participation.
- Provides tax benefits under Section 80C and Section 10(10D).
Simply put, this plan is designed for those who want life-long protection with guaranteed savings.
Key Features of LIC New Jeevan Anand 715
| Feature | Details |
|---|---|
| Plan Name | LIC New Jeevan Anand 715 |
| Type | Endowment + Whole Life (Dual Benefit) |
| Policy Term | 15 to 35 years |
| Entry Age | 18 to 50 years |
| Maximum Maturity Age | 75 years |
| Minimum Sum Assured | ₹1,00,000 |
| Maximum Sum Assured | No limit (depends on income) |
| Premium Payment Mode | Yearly, Half-Yearly, Quarterly, Monthly (NACH/ECS) |
| Loan Facility | Available after 3 years |
| Surrender Value | After 3 years of premium payment |
| Riders Available | Accidental Death, Critical Illness, Disability Benefit |
| Tax Benefits | 80C (premiums), 10(10D) (maturity/death benefits) |
Benefits of LIC New Jeevan Anand Plan 715
1. Death Benefit
If the policyholder dies during the policy term:
- Sum Assured on Death + Bonuses are paid to the nominee.
If the policyholder dies after maturity:
- A basic sum assured is paid again, making this plan a dual-benefit policy.
👉 This is what makes LIC New Jeevan Anand different—life cover continues even after maturity.
2. Maturity Benefit
On survival till the end of the policy term:
- Sum Assured + Simple Reversionary Bonuses + Final Additional Bonus are paid.
3. Participation in Profits
As a participating plan, the policyholder earns annual bonuses declared by LIC.
4. Loan Facility
Policyholders can avail of loans after 3 years, ensuring liquidity.
5. Tax Benefits
- Premiums qualify under Section 80C.
- Maturity/death payouts are exempt under Section 10(10D).
Example with Tabular Data
Case Study:
- Policyholder: Age 30 years
- Policy Term: 25 years
- Sum Assured: ₹10,00,000
- Annual Premium: Approx. ₹45,000 (exclusive of GST)
Maturity Illustration
| Year | Premium Paid (Cumulative) | Bonus Accumulated | Total Maturity Value |
|---|---|---|---|
| 5 Years | ₹2,25,000 | ₹90,000 | ₹3,15,000 |
| 10 Years | ₹4,50,000 | ₹2,20,000 | ₹6,70,000 |
| 15 Years | ₹6,75,000 | ₹4,50,000 | ₹11,25,000 |
| 20 Years | ₹9,00,000 | ₹8,00,000 | ₹17,00,000 |
| 25 Years (Maturity) | ₹11,25,000 | ₹12,50,000 | ₹23,75,000 |
👉 After paying ₹11.25 lakh in premiums, the policyholder receives around ₹23.75 lakh on maturity + lifelong insurance cover of ₹10 lakh thereafter.
Why LIC New Jeevan Anand 715 is Special
- ✅ Dual Benefit: Protection during the term + life cover even after maturity.
- ✅ Lifelong Risk Cover: A unique feature not found in regular endowment plans.
- ✅ Safe Investment: Guaranteed returns with LIC’s credibility.
- ✅ Wealth Creation + Security: Helps in long-term savings with family protection.
- ✅ Tax Efficiency: Section 80C & 10(10D) benefits.
Analyst Opinions
- Insurance Advisors: Call this plan a “legacy builder” since cover continues for life, ensuring family protection even after maturity.
- Financial Planners: Recommend it for risk-averse investors who value long-term stability over high-risk returns.
- Market Analysts: Say it’s ideal for those who want disciplined savings + guaranteed lifelong protection.
Investor Scenarios – Who Should Buy?
1. Young Professionals (25–35 years)
- Start early, enjoy low premiums, and ensure lifelong protection.
2. Parents (30–45 years)
- Secure children’s education and marriage with guaranteed maturity.
3. Middle-aged Investors (40–50 years)
- Retirement planning with maturity benefit + cover for life.
4. Business Owners
- Tax savings, protection, and guaranteed payouts for family security.
Real Investor Examples
Example 1: Ravi (Age 28, IT Engineer)
- Policy Term: 25 years, Sum Assured ₹5,00,000
- Annual Premium: ₹22,500
- Total Paid: ₹5,62,500
- Maturity Value: ₹11,75,000
- Life cover of ₹5,00,000 continues even after maturity.
Example 2: Neha (Age 38, Homemaker)
- Policy Term: 20 years, Sum Assured ₹3,00,000
- Annual Premium: ₹15,000
- Total Paid: ₹3,00,000
- Maturity Value: ₹6,20,000
- Life cover of ₹3,00,000 continues lifelong.
Comparison with Other LIC Plans
| Plan | Type | Returns | Cover After Maturity | Best For |
|---|---|---|---|---|
| LIC New Endowment 714 | Protection + Savings | Moderate | No | Conservative investors |
| LIC New Jeevan Anand 715 | Savings + Whole Life | Moderate-High | Yes | Long-term protection seekers |
| LIC Jeevan Labh | Limited Premium Endowment | Moderate | No | Early retirement planning |
| LIC Jeevan Umang | Whole Life Income Plan | Regular Income | Yes | Pension & retirement seekers |
👉 Clearly, LIC New Jeevan Anand 715 is best for those who want lifetime cover + lump sum maturity.
Expert Insights
- Returns are moderate (6–7% approx.), but reliability is unmatched.
- Best for those who want financial security for family even after maturity.
- Acts as a forced savings tool—helping investors build wealth over time.
- Loan facility makes it flexible in emergencies.
FAQs on LIC New Jeevan Anand 715
Q1. What makes LIC New Jeevan Anand 715 different?
👉 Unlike most policies, it provides life cover even after maturity.
Q2. What is the minimum and maximum term?
👉 Minimum: 15 years, Maximum: 35 years.
Q3. Is it tax-free?
👉 Yes, under Section 80C & Section 10(10D).
Q4. Can I surrender the policy?
👉 Yes, after 3 years (surrender value or paid-up value applies).
Q5. Can I take a loan?
👉 Yes, after paying premiums for at least 3 years.
Q6. Is this plan suitable for retirement planning?
👉 Yes, maturity payout can be used for retirement, while life cover continues.
Final Thoughts
The LIC New Jeevan Anand Plan 715 is one of the most comprehensive life insurance policies in India, offering dual benefits of savings + lifetime protection.
- For those looking for financial discipline, guaranteed savings, tax efficiency, and lifelong cover, this plan is a perfect choice.
- It’s not designed for high-risk, high-return seekers, but for risk-averse investors who want certainty and long-term family protection.
👉 If your goal is to build wealth steadily while ensuring your family’s security even after policy maturity, LIC New Jeevan Anand 715 should definitely be on your shortlist.
