LIC New Jeevan Anand Plan 915 Calculator is a simple and powerful tool that helps you estimate the premium, maturity value, and benefits of the LIC’s New Jeevan Anand Insurance Plan (Table No. 915). This plan, introduced by the Life Insurance Corporation of India (LIC) on 1st February 2020 and withdrawn on 1st October 2024, continues to be one of the most popular endowment-cum-protection policies among policyholders in India.​

What is LIC New Jeevan Anand Plan 915?

LIC New Jeevan Anand Plan (Plan No. 915) is a non-linked, participating, individual life assurance plan that offers both savings and protection benefits. It combines insurance coverage during and after the policy term with guaranteed maturity benefits, making it a unique policy allowing lifelong coverage after maturity.​

This plan provides:

• A lump-sum maturity benefit after the policy term ends.
• Lifetime insurance cover even after the maturity amount is paid.
• Bonus participation, increasing maturity and death benefits.

Launch and Withdrawal Details

• Launch Date: 1st February 2020
• Withdrawn Date: 1st October 2024
  These details are officially confirmed by LIC on its website.​

Key Features of LIC New Jeevan Anand Plan

The New Jeevan Anand Plan 915 offers several impressive features that ensure security, savings, and flexibility to the policyholder :​

• Combination of Protection & Savings: Provides death benefit during the policy term and continuous insurance cover even after maturity.
• Bonus Participation: Offers Simple Reversionary Bonus and Final Additional Bonus, depending on LIC’s annual performance.
• Loan Facility: Policyholders can avail a loan against their policy once it acquires surrender value (minimum two full years of premium paid).
• Flexible Premium Modes: Yearly, half-yearly, quarterly, or monthly modes available.
• Policy Revival: Can be revived within 5 years from the first unpaid premium date.
• Free Look Period: 15 days from receipt of policy document to return it if not satisfied.
• Tax Benefits: Premiums qualify for deduction under Section 80C; maturity & death benefits are exempt under Section 10(10D).

Eligibility Criteria

Parameter	Minimum	Maximum
Entry Age	18 years (completed)	50 years (nearer birthday)
Maturity Age	—	75 years
Policy Term	15 years	35 years
Basic Sum Assured	₹1,00,000	No Limit
Premium Payment Mode	Yearly, Half-Yearly, Quarterly, Monthly
Grace Period	30 days (Yearly/Half-Yearly/Quarterly), 15 days (Monthly)

Source: LIC official brochure​

Benefits of LIC New Jeevan Anand Plan 915

1. Death Benefit (Life Cover)

If the policyholder passes away during the policy term, the nominee receives the higher of:

• 125% of Basic Sum Assured, or
• 7 times the annualized premium
  Plus:
• Accumulated Simple Reversionary Bonuses and Final Additional Bonus (if declared).​

If death occurs after the policy tenure, the Basic Sum Assured is paid as lifelong coverage.

2. Maturity Benefit

If the policyholder survives until the end of the policy term and has paid all premiums, then at maturity:

• Maturity Amount = Basic Sum Assured + Simple Reversionary Bonuses + Final Additional Bonus.​

This amount provides a lump sum corpus for future financial needs like retirement, child’s education, or housing.

3. Bonus Benefits

The plan is with-profits, meaning it participates in LIC’s yearly profits. Bonuses include:

• Simple Reversionary Bonus: Declared annually based on LIC’s performance.
• Final Additional Bonus (FAB): Paid at maturity or death, if applicable.​

4. Loan Facility

After paying at least two full years of premiums, a policyholder can avail of a loan against the surrender value. This helps maintain liquidity in emergencies.​

5. Riders (Extra Benefits)

Policyholders can enhance the base plan’s coverage through additional riders :​

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

Each rider can be chosen by paying an extra premium at the time of policy purchase.

6. Tax Benefits

• Premiums qualify for deduction under Section 80C of the Income Tax Act.
• Death/Maturity benefits are fully tax-free under Section 10(10D).​

Calculation Example of LIC New Jeevan Anand Plan 915

Let’s understand with an example using the LIC New Jeevan Anand Calculator :​

Example:

• Age: 30 years
• Policy Term: 25 years
• Basic Sum Assured: ₹10,00,000
• Annual Premium: Approx. ₹46,000

If the policyholder survives the 25-year term:

• Accumulated Bonus: ₹5–6 lakh (approx., depends on LIC’s yearly bonus rate).
• **Maturity Value = ₹10,00,000 + ₹5,50,000 = ₹15,50

Frequently Asked Questions

Conclusion

LIC New Jeevan Anand Plan 915 was one of LIC’s flagship offerings, blending savings and lifelong insurance cover, withdrawn in October 2024 after several successful years. A calculator helps you estimate premiums and benefits with ease. While new sales have stopped, the plan’s unique benefits continue for existing policyholders.