LIC New Jeevan Anand Plan 815
Offline Premium & Maturity Calculator
LIC Jeevan Anand Plan 815 Overview
LIC Jeevan Anand Plan 815 is a popular whole life endowment plan offering dual benefits of savings and protection. It provides financial support against death throughout the lifetime of the policyholder and a lump sum payment at maturity.
Eligibility & Rules
- Minimum Sum Assured: ₹1,00,000
- Maximum Sum Assured: No Limit
- Policy Term: 15 to 35 Years
- Premium Paying Term (PPT): Same as Policy Term
- Entry Age: 18 to 50 Years
- Maximum Maturity Age: 75 Years
Key Plan Benefits
- Death Benefit: Sum Assured on Death + Vested Bonus + FAB. After maturity, life cover equal to Basic Sum Assured continues.
- Maturity Benefit: Basic Sum Assured + Vested Simple Reversionary Bonuses + Final Additional Bonus (FAB).
Detailed Maturity Benefit
Basic Sum Assured + Vested Simple Reversionary Bonuses + Final Additional Bonus (if any). Payable on surviving the policy term.
Standard Policy Features
- Grace Period: 30 days for Yearly, Half-Yearly, and Quarterly premium payment modes, and 15 days for Monthly mode.
- Free Look Period: 30 days from the date of receipt of the policy document to review the terms and conditions.
- Loan & Surrender Facility: The policy acquires a Surrender Value and Loan facility after the payment of 2 full years' premiums.
- Tax Benefits: Premiums paid are eligible for tax deduction under Section 80C, and maturity/death benefits are tax-free under Section 10(10D), subject to prevailing tax laws.
Example Calculation
| Parameter | Value |
|---|---|
| Sum Assured | ₹5,00,000 |
| Age / Policy Term | 30 / 20 Years |
| Yearly Premium (Approx) | ₹29,500 |
| Total Paid Premium | ₹5,90,000 |
| Maturity / Total Benefits | ₹10,50,000 + ₹5 Lakh Life Cover continues |
Calculating…