LIC New Jeevan Anand 915

New Jeevan Anand Plan (915) - Premium and Maturity Calculator




LIC New Jeevan Anand 915

LIC New Jeevan Anand 915

LIC New Jeevan Anand 915

Description


LIC New Jeevan Anand 915 – LIC of India launched a new plan on 1st february 2020, which name is LIC New Jeevan Anand Plan 915 (LIC Table No 915) is whole life plan with Guaranteed Returns and Protections because it is not market based plan.

LIC New Jeevan Anand 915 is an endowment and whole life policy along with Bonus facility. “LIC New Jeevan Anand 915″ is a Double Death Benefit Plan, if the life insured survives till the end of the policy term.

LIC New Jeevan Anand policy has average premium, high bonus rate and great features. One of the main whole life features is that the nominees get the sum assured when the policyholder dies. With this feature you will get the money twice.

Please Note: You can buy now online LIC new jeevan anand plan 915 through credit card/debit card, net banking, upi and wallets on our LIC's New Business Platform.

Key Features


  • LIC New Jeevan Anand 915 is combination of Endowment and term insurance policy i.e. Double Benefit Endowment plan, if person lives till end of Term of the policy will be given Maturity Benefit and Risk Cover will continue till 100 years or death whichever is earlier. Death Benefit amount paid to Nominee.
  • Accident Benefit rider is not inbuilt in this plan. You can opt for Accidental and disability Benefit Rider and Critical Illness Rider by paying small Amount of Premium.
  • This is a High Bonus and High liquidity and whole life plan.
  • Paid premium under New Jeevan Anand 915 is exempted under section 80c
  • Maturity or death claim is tax free under section 10(10D) of Income Tax act.

LIC new jeevan anand 915 Parameters/Eligibility


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 5 year
Premium Mode Rebate 2% on yearly, 1% on Half Yearly, Nil on Quarterly
Loan After 3 years
Surrender After 2 years

LIC Jeevan Anand Plan 915 Rebates


This plan provides 2 types of discounts Mode Rebate and Sum Assured Rebate. Detailed Information about rebates is mention below.

Mode Rebate

              Yearly              – 2% on tabular premium

              Half yearly     – 1% on tabular Premium

Sum Assured Rebate

Sum Assured Rebate
From Rs. 1,00,000/- to Rs. 2,00,000/- NIL
From Rs. 2,00,000/- to Rs. 4,95,000/- For every  1,000 Rs./- Sum Assured  1.50 Rs/- rebate
From Rs. 5,00,000/- to Rs. 9,95,000/- For every  1,000 Rs./- Sum Assured  2.50 Rs/- rebate
From Rs. 10,00,000/- and above For every  1,000 Rs./- Sum Assured  3.00 Rs/- rebate

Maturity and Death Benefits


Maturity benefits and Death benefits are provided under LIC New Jeevan Anand plan 915.

Maturity Benefit

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.

Death Benefit

If the Insured person dies within the Policy Term then Nominee of the Policy will be given  Death Benefit Sum Assured on Death + Simple Reversionary Bonus + final additional bonus if any

Sum Assured on Death means 125% of Basic sum assured (1.25 x BSA) or 7 times Annual Premium (10 x AP) whichever is higher that amount will be paid to nominee.  Death benefit paid should not be less than 105% of total premiums paid upto the date of death.

LIC New Jeevan Anand plan 915 with an Example


An example of Ramesh who is purchasing this Plan with following details.

Sum Assured 5,00,000
Policy Term 21 Years
Policy Purchase Year 2023
Age 30 Years
Yearly Premium Rs. 28,327 / 27,717

CALCULATION DETAILS

Sum Assured: 500000 Age:
30
Term:
21
Death Sum Assured:
625000
AD & DB Sum Assured:
500000
Term Rider Sum Assured:
0
Death Sum Assured is higher of 125% of Basic Sum assured (625000) or 7 times of Annualised Premium (189749). So Death Sum Assured or Sum Assured on Death in this case will be 625000.

1st Year Premium Details (With GST @4.5%)

Yearly Half-yearly Quarterly Monthly
28327 14311 7230 2410

2nd Year Premium Onwards (With GST @2.25%)

Yearly Half-yearly Quarterly Monthly
27717 14003 7075 2358
Premium include Goods and Services Tax (GST). The present GST Rate for First Policy Year is 4.5%; and second year onwards the rate becomes 2.25%.

MATURITY DETAILS

Sum Assured Bonus
(approx.)
FAB (approx.) Total Maturity (approx.)
500000 483000 50000 1033000
Maturity of New Endowment plan is available after completion of Policy Term and maturity will be equal to Basic Sum Assured + Accumulated Simple Reversionary Bonus (Bonus) during policy term + Final Additional Bonus (if any) (FAB).

YEAR-WISE POLICY DETAILS

Year Age Paid Premium Normal Life Cover
(Approx.)
Accidental Life Cover (Approx.)
2023 30 28327 648000 1148000
2024 31 27717 671000 1171000
2025 32 27717 694000 1194000
2026 33 27717 717000 1217000
2027 34 27717 740000 1240000
2028 35 27717 763000 1263000
2029 36 27717 786000 1286000
2030 37 27717 809000 1309000
2031 38 27717 832000 1332000
2032 39 27717 855000 1355000
2033 40 27717 878000 1378000
2034 41 27717 901000 1401000
2035 42 27717 924000 1424000
2036 43 27717 947000 1447000
2037 44 27717 980000 1480000
2038 45 27717 1005500 1505500
2039 46 27717 1031000 1531000
2040 47 27717 1056500 1556500
2041 48 27717 1087000 1587000
2042 49 27717 1120000 1620000
2043 50 27717 1158000 1658000
2044 51 582667 Maturity Amount 1033000
Normal Life Cover = Death Sum Assured + Accumulated Bonus + FAB + Term Rider Sum Assured (If opted).

Accidental Life Cover = Death Sum Assured + Accumulated Bonus + FAB + Basic Sum Assured+ Term Rider Sum Assured (If opted).

To understand year-wise death claim, suppose death happens in year 2033, by that policy year, total paid premium will be 305497 and Normal Life Cover and Accidental Life Covers will be 878000 and 1378000 respectively. Please refer to highlighted row in the above table.";
Note: Above calculator has been developed to help you understand this plan better and; it is solely based on personal understanding of this plan. Bonus is based on already declared bonus rates of New Jeevan Anand Policy 915. FAB is based on declared FAB rate of similar plan group.
Plan Benefits for You Amount
Guaranteed Sum Assured 500000
Bonus 483000
FAB 50000
Maturity Returns on 21th Years 1033000

After the maturity policy holder will be insurared with the same basic sum assured amount ( 500000) for life time (till 100 years).

Plan Benefits for Nominee/Family After You Amount
On Death Before Maturity (Guaranteed Sum Assured) 625000
If Accidental Death (DAB Paid) 500000
As on death bonus paid 253000
As on death FAB paid 0
Term Rider Benefit (if Opted) 0
Total Payable to Nominee (Tax Free) 1378000

LIC new Jeevan Anand Policy 915 Additional Information


Date of Commencement of Risk: Immediately.

Risk Coverage: End of the Policy Term.

Locking period: 2 years.

Loan Facility: Available after 3 years.

Income Tax Benefit - Income Tax Benefits available on Paid Life Insurance Premium U/Sec 80C and Maturity Benefit will also be tax free under section 10(10)D.

Riders available: You can opt for Accident and disability Benefit Rider, term rider and Critical Illness Rider by paying small Amount with the basic premium.

Policy Revival: Policy can be revived before 5 years from date of FUP.

Suicide Clause: If insured commit suicide before 12 months he will be returned back 80% of premium what he paid.

Proposal Forms : Proposal Form no. 300 will be used under this plan.

Cooling-off Period: If a policyholder is not satisfied with the Terms and Conditions of the policy, he/she may return the policy within 15 days from the date of receipt of the policy.

Backdating: The policies can be dated back within the same financial year.

Assignments/Nominations: assignment and nominations is possible under this plan.



Comments & Reviews

Love Kumar Varshney Wrote:

2024-07-16 09:23:41

Bhaiya meri to ek hi rai hai javani ki shuruaat mein jivan Anand policy le tabil no 915 our apna our apne jeewan Sathi ka budapa save kare kisi sahukar ke ya bacho ke age budape m hath na fela na pade our marnee ke baad bachho ke liye unke future ke liye jeewan Sathi ke liye ek moti rakam milegi unko bhi wo yh na kahe hamare liye kuchh na kre pitaji tumne is liye m to yh policy purchase kar Li hai our aap bhi le our iska laabh uthaje Jeewan ke sath bhi our baad bhi Jewan Anand 915 ????????

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harshita Wrote:

2024-06-18 18:08:47

Best plan jeevan anand 915 for young people. must buy this plan fpr everyone.

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MANMEET Wrote:

2024-05-05 13:58:52

I have purchased jeevan Anand 149 on 2013 for paying period 20 years with sum insured 165000 with premium 12440 yearly.how much I will get maturity amount after completing paying period or in case after death.

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Pinki Wrote:

2024-04-04 02:45:35

Jeean anand

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Srihari Haran Wrote:

2024-02-04 15:21:07

I started this Jeevan Anand Plan 915 on 28-09-2021 & paying half yearly. My doubt is how much I will get after the maturity of this policy. Can anyone please clarify my doubt.

Admin Wrote:

2024-02-08 16:06:16

You can use LIC jeevan Anand plan 915 calculator below: https://www.licplanpremium.in/plans/lic-new-jeevan-anand-915

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Mohanasundaram Mohanasundaram Wrote:

2023-10-25 17:00:16

Lic jeevan anand 915

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Abhishek Kushwaha Wrote:

2023-10-11 22:16:59

Jeevan Anand Plan 915 Is a good Plant for Age 18 to 35 . Somebody that a like this plan and review are manually are good better then other LIC plan .

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