LIC New Jeevan Anand (Plan 715)

LIC New Jeevan Anand (Plan 715) - Overview

LIC New Jeevan Anand (Plan 715) is LIC's flagship endowment-plus-whole-life plan. It is the modern successor of the iconic Jeevan Anand (Plan 149) and combines:

Endowment benefit — a lump-sum payout at the end of the policy term (Sum Assured + Bonus + FAB).
Whole Life cover — life cover equal to the Sum Assured continues after maturity, up to age 100.

Once you pay the maturity benefit, your family continues to be protected for the rest of your life. If something happens to you after the policy matures, the Sum Assured is paid to your nominee — without any further premiums.

Key Features at a Glance

Plan Number	715 (table 815 for without critical illness rider, 915 with rider)
Plan Type	Endowment + Whole Life, Participating, Regular Premium
Minimum Age at Entry	18 years (completed)
Maximum Age at Entry	65 years (last birthday)
Maximum Age at Maturity	75 years
Policy Term	15 to 35 years
Premium Paying Term	Equal to Policy Term
Minimum Sum Assured	₹1,00,000
Maximum Sum Assured	No upper limit
Loan Available	Yes, after surrender value is acquired

Benefits Explained

On Survival (Maturity)

Sum Assured + Accrued Simple Reversionary Bonus + FAB (if any)
PLUS life cover equal to the Sum Assured continues till age 100 — without any further premium.

On Death During the Term

Sum Assured + Accrued Bonus till date of death + FAB (if any), paid to the nominee.

On Death After Maturity (the unique feature)

The Sum Assured is paid to the nominee (no further bonuses, since the term has ended).
This continues for life — till age 100.

Example Premium & Maturity

Priya, age 30, buys LIC New Jeevan Anand (715) with Sum Assured ₹10,00,000 and a 20-year term.

Approximate yearly premium (before GST): ~₹70,000
Yearly premium with 18% GST: ~₹82,600
Total premiums paid (20 years): ~₹16,52,000
Accrued bonus (@ ₹52 per ₹1,000 SA per year for 20 years): ~₹10,40,000
Estimated FAB: ~₹1,10,000
Total Maturity Value (Year 20): ~₹21,50,000
Plus lifelong cover of ₹10,00,000 from Year 20 to Year 70 (age 100) — at no extra cost.

Why LIC 715 is So Popular

Two-in-one benefit — endowment + whole life in a single plan.
"Pay once, get covered for life" — premiums stop at maturity, but cover doesn't.
Tax-free maturity under Section 10(10D).
Trusted brand — LIC is the most trusted insurer in India.
Loan facility — for any financial need after 3 years.
Bonus + FAB — boosts your maturity value every year.

Plan 715 vs Plan 714 (Endowment)

Feature	Plan 715 (Jeevan Anand)	Plan 714 (Endowment)
Life cover after maturity	Yes, till age 100	No
Premium	~8-10% higher	Lower
Best for	Those who want lifelong protection	Those who only need term cover
Bonus rate (indicative)	~₹52 per ₹1,000 SA	~₹48 per ₹1,000 SA

Frequently Asked Questions

Is LIC 715 better than 714?

If you want lifelong protection even after maturity, yes. If you only need cover for the policy term and want a lower premium, Plan 714 is fine. The premium difference is typically 8-10%.

Do I have to pay premiums after maturity?

No! Plan 715's unique feature is that you stop paying premiums at maturity, but the life cover continues for life (till age 100). The Sum Assured is paid to your nominee if you pass away after maturity.

What is the difference between 815 and 915?

Table 815 is the base New Jeevan Anand. Table 915 is the same plan with the optional LIC's New Critical Illness Benefit Rider built in. Premium for 915 is higher because of the rider benefit.

Can I take a loan on Plan 715?

Yes, after the policy acquires surrender value (typically 3 years), you can take a loan of up to 80-90% of the surrender value at LIC's prevailing interest rate.

Get endowment benefit + lifelong cover

LIC New Jeevan Anand (715) Calculator