LIC New Jeevan Anand (Plan 915) is, by sales volume, one of India's most popular life insurance plans. It blends an endowment plan (savings that mature) with a whole-life plan (cover that never ends) — a combination no pure investment product offers.
Plan 915 at a Glance
| Parameter | Details |
|---|---|
| Plan type | Participating endowment + whole life |
| Entry age | 18 – 50 years |
| Policy term | 15 – 35 years |
| Maximum maturity age | 75 years |
| Minimum Sum Assured | ₹1,00,000 (no upper limit) |
| Premium modes | Yearly / Half-yearly / Quarterly / Monthly (NACH) |
| Loan | Yes, after 2 years' premiums |
| Tax benefits | 80C on premium; 10(10D) on payouts |
How the Double Benefit Works
- During the term: full risk cover. If death occurs, nominee gets higher of 125% of Sum Assured or 7× annual premium, plus vested bonus (minimum 105% of all premiums paid).
- At maturity: you receive Sum Assured + accumulated Simple Reversionary Bonus + Final Additional Bonus.
- After maturity: here's the magic — the policy doesn't die. Whenever the policyholder passes away (even at age 90), the nominee receives the Basic Sum Assured again — with zero further premiums.
Maturity Calculation — Worked Example
Ravi, age 30, buys plan 915 with ₹10,00,000 Sum Assured for a 21-year term.
- Approx. yearly premium: ₹51,800 + GST (4.5% year 1, 2.25% after)
- Simple Reversionary Bonus @ ~₹45/1000/yr: 45 × 1000 × 21 = ₹9,45,000
- Final Additional Bonus @ ~₹90/1000 (one-time): ₹90,000
- Maturity ≈ ₹10,00,000 + ₹9,45,000 + ₹90,000 = ₹20,35,000
- PLUS lifelong cover of ₹10,00,000 continues after maturity
Total premiums paid ≈ ₹11.1 lakh → maturity ≈ ₹20.35 lakh + free lifelong cover of ₹10 lakh. Effective return ≈ 5.5–6% p.a. tax-free, with insurance built in.
👉 Verify with your own numbers on the Jeevan Anand 915 Calculator.
Riders Available
- Accidental Death & Disability Benefit (ADDB)
- Accident Benefit Rider
- New Term Assurance Rider
- New Critical Illness Benefit Rider
Who Should Buy Jeevan Anand 915?
- ✅ Savers who want guaranteed corpus + lifelong protection in one product
- ✅ People uncomfortable with market volatility
- ✅ Those seeking 80C deduction with tax-free maturity
- ❌ Not ideal for pure wealth maximisation — see our LIC vs SIP analysis
- ❌ Not a substitute for adequate term cover — combine with a term plan