When planning for financial security and future savings, choosing the right insurance plan is crucial. LIC New Jeevan Anand Plan 815 is one of the most popular life insurance endowment plans offered by the Life Insurance Corporation of India. This plan provides both savings and protection benefits and comes with attractive bonuses.

A vital tool to understand the benefits of this plan is the LIC New Jeevan Anand Plan 815 Calculator. It helps prospective and current policyholders estimate premiums, maturity amounts, death benefits, and other plan features.

What is LIC New Jeevan Anand Plan 815?

LIC New Jeevan Anand Plan 815 is a participating, non-linked, with-profits endowment assurance plan. It combines insurance protection with savings by offering a lump sum maturity amount after the policy term ends, along with risk coverage during the term.

Key Features of the Plan

• Policy Term: Flexible terms ranging from 15 to 35 years.
• Entry Age: 18 to 50 years.
• Sum Assured: Minimum ₹1,00,000 and above in multiples of ₹5,000.
• Premium Payment: Limited to the policy term with modes including yearly, half-yearly, quarterly, and monthly.
• Bonuses: Participates in LIC’s profit distribution through simple reversionary bonuses and Final Additional Bonus.
• Risk Cover: On death during the term, nominees receive the sum assured plus accrued bonuses.
• Post Maturity Cover: Insurance cover continues equal to sum assured even after maturity.
• Loan Facility: Available after payment of at least 3 full years’ premiums.

This plan also allows optional riders like Accident and Disability Benefits and Critical Illness Benefit Riders, enhancing the protection aspect.

For more official details from LIC, visit the LIC India website.

Benefits of LIC New Jeevan Anand Plan 815

Maturity Benefit

On survival till the end of the policy term, the policyholder receives:

• The Sum Assured on Maturity.
• Accrued Simple Reversionary Bonuses.
• Final Additional Bonus (FAB), if declared.

This maturity benefit is paid as a lump sum. The plan also keeps life-long insurance coverage equal to the sum assured after the premium paying term.

Death Benefit

If the policyholder dies during the policy term, the nominee gets:

• 125% of the Sum Assured,
• Accrued Bonuses till the date of death,
• Final Additional Bonus (if declared),
• Plus, additional sum assured if Accidental Death Benefit rider is opted.

This ensures financial security for the family in case of unforeseen events.

Loan and Surrender

• Policyholders can avail of a loan after 3 years of premium payment.
• The policy can be surrendered after 3 years, with the surrender value based on bonuses accrued and premiums paid.

Why Use LIC New Jeevan Anand Plan 815 Calculator?

The plan has numerous features and benefits, but calculating exact premium amounts and maturity benefits manually can be complex because bonuses are declared periodically and depend on various factors.

The LIC New Jeevan Anand Plan 815 Calculator helps by:

• Estimating the yearly, half-yearly, quarterly, and monthly premiums based on sum assured, age, term, and riders.
• Calculating the maturity amount including bonuses and final additional bonus.
• Providing death benefits estimate.
• Showing the surrender value based on policy duration.
• Making it easier to compare different sum assured and policy term options.

This tool ensures transparency and helps policyholders plan finances better by knowing what to expect.

How to Use LIC New Jeevan Anand Plan 815 Calculator?

Using the calculator is simple and requires only a few inputs:

1. Enter your Age (usually between 18 to 50 years).
2. Select Policy Term (15 to 35 years).
3. Input Sum Assured amount.
4. Choose Premium Payment Mode (Yearly, half-yearly, quarterly, or monthly).
5. Optionally select riders like Accident and Disability Benefit or Critical Illness Benefit.
6. Click on Calculate.

The tool will provide detailed results including:

• Premium amounts.
• Total premiums to be paid over the term.
• Projected maturity value including bonuses.
• Risk cover details.
• Death benefit and surrender values.

Example Calculation

Suppose you are a 30-year-old choosing a sum assured of ₹10,00,000 with a policy term of 25 years and yearly premium payment.

Based on typical bonus rates:

• Annual premium might be around ₹44,000.
• Total premium paid over 25 years will be approximately ₹11,00,000.
• Expected maturity amount including bonuses could be around ₹27,00,000.
• Death benefit during the term would be 125% of sum assured + accrued bonuses.

These are approximate values, and the actual benefits can be calculated precisely using the LIC calculator.

Understanding Bonuses in LIC New Jeevan Anand Plan

Bonuses form a significant part of the returns in this plan.

Simple Reversionary Bonus

This bonus is declared annually by LIC and added to the policy’s value. The rate varies based on the corporation’s performance and might be around ₹41 to ₹49 per ₹1000 sum assured depending on the policy term.

Final Additional Bonus (FAB)

Paid once at maturity or death, FAB depends on the policy term and sum assured. This bonus can add a substantial amount to the maturity proceeds.

Example of Bonus Rates:

Term (Years)	Bonus Rate per ₹1000 SA
15-20	₹41 – ₹45
Above 20	₹49

These bonuses are not guaranteed but have been historically consistent.

Important Aspects to Consider

• Premium Payment Modes: Opting for yearly premium payments can give you a rebate (2%), saving money compared to monthly or quarterly modes.
• Accident and Disability Rider: Adds additional safety net in case of accidental death or disability.
• Policy Revival and Surrender: Timely revival and understanding surrender values is crucial to avoid loss of benefits.
• Loan Facility: Helps in emergencies after the policy has run for 3 years.

Benefits of the Calculator for Different Users

For First-Time Buyers:

The calculator simplifies decision-making, helping estimate the costs and benefits upfront.

For Existing Policyholders:

It helps track bonuses and maturity values to plan future investments accordingly.

For Financial Advisors:

The tool is useful to explain plan benefits visually to clients.

Tips for Using the Calculator Effectively

• Enter accurate age to get precise premium estimates.
• Try different policy terms to compare maturity benefits.
• Include optional riders if they fit your needs.
• Use the calculator to compare this plan with other LIC plans for better understanding.

FAQ About LIC New Jeevan Anand Plan 815 Calculator

Conclusion

The LIC New Jeevan Anand Plan 815 Calculator is an essential tool for anyone interested in this endowment policy. It makes complex calculations easy and understandable, providing clarity on premiums, maturity, death benefits, and surrender values. Using the calculator ensures you are well-informed, helping you make sound financial decisions with confidence.