LIC New Jeevan Anand Plan 915
Offline Premium & Maturity Calculator
LIC New Jeevan Anand Plan 915 Overview
LIC New Jeevan Anand Plan 915 is an enhanced participating whole life endowment plan. It provides an attractive combination of protection and savings, with lifelong risk cover continuing even after the maturity of the policy.
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" (125% of Basic SA or 7 times annualized premium) + Bonus + FAB.
- Maturity Benefit: Basic Sum Assured + Vested Bonuses + FAB. Risk cover equal to Basic SA continues till age 100.
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…