Life insurance is an essential part of financial planning. It not only provides security to your loved ones in your absence but can also act as a savings and investment vehicle. One of the popular plans offered by Life Insurance Corporation of India (LIC) is the LIC New Jeevan Anand Plan 715.

What is LIC New Jeevan Anand Plan 715?

The LIC New Jeevan Anand Plan 715 is a participating, non-linked, individual life assurance plan that offers a combination of life insurance protection and a savings component with a guaranteed lump sum maturity amount. It not only offers financial security through life cover but also participates in LIC’s profits in the form of bonuses.

Key Features

• Dual benefit of lifelong life insurance cover plus savings
• Guaranteed lump sum amount on maturity
• Life cover continues even after policy maturity
• Bonuses declared by LIC add to the returns
• Optional riders available for enhanced protection
• Loan facility available during the policy tenure
• Flexible premium payment modes: yearly, half-yearly, quarterly, monthly (NACH)

This plan is ideal for those who want both protection and disciplined savings and prefer a stable insurance product rather than market-linked risks.

Eligibility Criteria for LIC New Jeevan Anand Plan 715

Before buying the plan, it is important to know the eligibility conditions:

Criteria	Details
Minimum Entry Age	18 years (completed)
Maximum Entry Age	50 years (nearest birthday)
Maximum Maturity Age	75 years (nearest birthday)
Policy Term	15 to 35 years
Minimum Sum Assured	₹2,00,000
Maximum Sum Assured	No limit (depends on income)
Premium Payment Term	Equal to policy term

The plan offers a wide range of policy terms and sum assured amounts, allowing flexibility to suit different financial goals and age groups.

Why Use the LIC New Jeevan Anand Plan 715 Calculator?

Understanding insurance plan benefits and premium commitments can be complicated. The LIC New Jeevan Anand Plan 715 Calculator is a handy online tool that makes this easy and transparent.

Benefits of Using the Calculator

• Estimate Premiums: Know your yearly, half-yearly, quarterly, or monthly premiums based on entry age, sum assured, and policy term.
• Maturity Value Prediction: Get an estimate of what you will receive at the end of the policy term.
• Death Benefits: Understand the death cover your nominee will get.
• Bonus Projections: Incorporate projected bonuses to calculate total benefits.
• Loan and Surrender Values: Know when policy loans are available and approximate surrender values.
• Rider Impact: Calculate premium changes when adding optional riders.

By using this calculator, you can compare different premium payment modes, policy terms, and sum assured options to make an informed decision tailored to your budget and financial goals.

How to Use the LIC New Jeevan Anand Plan 715 Calculator?

Using the LIC New Jeevan Anand calculator is very straightforward. Follow these simple steps:

1. Enter Your Age: Provide your age at nearest birthday (between 18 and 50).
2. Choose Policy Term: Select how many years you want the policy to run (15 to 35 years).
3. Specify Sum Assured: Input the desired sum assured (minimum ₹2,00,000).
4. Select Premium Payment Mode: Choose payment frequency—yearly, half-yearly, quarterly, or monthly.
5. Include Riders (optional): If you want additional coverage like accidental death benefits, select the relevant riders.
6. Calculate: Click the calculate button to get the premium amount and maturity benefits.

The calculator instantly generates the premium amount payable and the expected maturity amount, including bonuses.

Benefits of LIC New Jeevan Anand Plan 715

1. Life Cover for Lifetime

One of the unique benefits of this plan is life insurance cover that continues even beyond the maturity of the policy. Your family is financially protected for life.

2. Guaranteed Maturity Sum

At the end of the policy term, a guaranteed lump sum maturity amount is paid along with bonuses declared during the policy period.

3. Bonuses and Profit Participation

LIC declares bonuses based on its profits, which are added to your policy enhancing the overall returns. These bonuses can be:

• Simple Reversionary Bonus
• Final Additional Bonus (FAB)

Bonuses are not guaranteed but LIC has a consistent track record of declaring attractive bonuses.

4. Optional Riders

You can enhance the base plan by adding riders such as:

• Accidental Death and Disability Benefit Rider
• New Term Assurance Rider
• Accident Benefit Rider

Riders increase coverage for unforeseen events with additional premiums.

5. Tax Benefits

Premiums paid under this plan qualify for tax deduction under Section 80C of the Income Tax Act, and maturity proceeds are exempted under Section 10(10D), subject to prevailing tax laws.

6. Policy Loan Facility

You can avail loans against the policy after a waiting period (usually after 1 year), providing liquidity in emergency situations.

Sample Calculation Using LIC New Jeevan Anand Plan 715 Calculator

Suppose a 30-year-old person opts for:

• Policy term: 25 years
• Sum assured: ₹5,00,000
• Premium mode: Yearly

Using the calculator:

• The annual premium payable might be approximately ₹28,000.
• Expected maturity amount (including bonuses) around ₹8,00,000 to ₹9,00,000 depending on declared bonuses.
• Death benefit would be sum assured plus accrued bonuses.

This is an estimated illustration; exact values depend on individual factors and LIC’s bonus declarations.

Important Considerations Before Buying

• Sum Assured Selection: Choose the sum assured wisely based on your family’s financial needs.
• Premium Affordability: Use the calculator to check premium affordability before committing.
• Policy Term: Longer terms accumulate more bonuses but also mean longer premium payments.
• Rider Options: Consider riders based on your risk profile.
• Review Terms: Understand surrender and loan facilities.

How LIC New Jeevan Anand Plan 715 Stands Out

This plan offers a balanced mix of protection and savings which is appealing for people who want a stable investment along with lifelong cover. Unlike market-linked products, this plan does not directly depend on stock market performance, providing more certainty.

Also, the continuation of life cover even after maturity is a significant feature that secures your family’s future beyond the maturity date.

Where to Find Official Information and Calculator?

To use the official LIC New Jeevan Anand Plan 715 Calculator or to know more about the plan details, you can visit:

• LIC India Official Website
• Reputed insurance portals such as PolicyBazaar

These sites provide reliable calculators and extensive policy documents for better understanding.

Frequently Asked Questions

Conclusion

The LIC New Jeevan Anand Plan 715 Calculator is an essential tool to plan your insurance purchase smartly. It helps understand premiums, maturity values, and death benefits clearly.

This participating, non-linked insurance plan offers a great opportunity for individuals who want lifetime protection coupled with savings and stable returns through bonuses. Using the calculator before buying helps choose the right term, premium mode, and sum assured for specific financial goals.