LIC Jeevan Anand 2026 — New Plan 915, Premium Calculator, Maturity & Bonus
LIC New Jeevan Anand (Plan 915) 2026: Whole-life endowment cover, ₹40 per ₹1,000 simple reversionary bonus indication, premium examples, maturity benefit and tax treatment.
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Quick summary. LIC New Jeevan Anand (Plan No. 915) is a participating, non-linked endowment-cum-whole-life insurance plan from the Life Insurance Corporation of India. Two-in-one design: during the policy term you get endowment cover (sum assured + bonuses on maturity); after maturity, the basic sum assured continues as life cover for the rest of your life at no further premium. Sum-assured range: ₹1 lakh minimum, no maximum. Term: 15–35 years. Entry age: 18–50. Premium-paying term = policy term. Tax: Section 80C on premium (Old Regime); maturity tax-free under Section 10(10D) for policies meeting the premium-to-sum-assured ratio (≤ 10% premium). Bonus indication for FY 2025–26: approximately ₹40 per ₹1,000 sum assured (LIC’s actual bonus is declared annually).
LIC New Jeevan Anand is one of LIC’s most-sold endowment plans because of its dual-purpose structure — a savings instrument plus permanent life cover. Conventional endowment plans pay sum assured + bonuses on maturity and end. New Jeevan Anand pays the same on maturity, but additionally keeps the original sum assured as life cover until the policyholder’s death — so the family always gets one more sum assured payout. As of FY 2025–26, LIC has issued 2.3 crore Jeevan Anand policies in force.
The trade-off: returns are modest (effective IRR around 5–6% based on LIC’s recent bonus track record). For pure investment returns, a PPF + term-plan combination typically beats Jeevan Anand. The plan suits buyers who value bundled insurance + savings + the “permanent cover after maturity” feature, and who don’t optimise rigorously for IRR.
At a glance
| Detail | Information |
|---|---|
| Plan name | LIC New Jeevan Anand (Plan 915) |
| Type | Participating, non-linked, individual endowment-cum-whole-life |
| Min sum assured | ₹1,00,000 |
| Max sum assured | No upper limit |
| Policy term | 15–35 years |
| Premium-paying term | Same as policy term |
| Entry age | 18 (min) – 50 (max) |
| Maturity age | 75 max (subject to term cap of 35) |
| Premium frequency | Yearly / half-yearly / quarterly / monthly (ECS / NACH only for monthly) |
| Riders available | Accidental Death + Disability rider; Term-assurance rider; Critical illness rider |
| Tax | 80C on premium (old regime); 10(10D) maturity tax-free if premium ≤ 10% of SA |
Who is eligible?
Educational Qualification
Not applicable
Age Limit (As on Date of policy commencement)
18 to 50 Years
Other Requirements
- Nationality: Indian resident OR NRI
- Sum assured minimum ₹1 lakh (in multiples of ₹5,000 thereafter); no upper limit
- Policy term 15–35 years; maturity age cap of 75 (so a 50-year-old can take only 25-year term)
- Health declaration in proposal form; medical examination required for sum assured above LIC's threshold (varies by age — typically ₹15–25 lakh for young applicants)
- Permanent life cover continues after maturity for the rest of the life — no further premium
- Single life only (no joint cover); separate policies for spouse if needed
How the plan works — example
Suppose age 30, sum assured ₹10 lakh, policy term 25 years:
- Premium: approximately ₹35,000 / year (rate varies; obtain exact quote from LIC)
- Total premium paid in 25 years: ₹8.75 lakh
- Maturity benefit (Year 25): Sum Assured (₹10 lakh) + Simple Reversionary Bonuses + Final Additional Bonus
If LIC declares an average bonus of ₹40 per ₹1,000 SA per year, accumulated bonuses over 25 years ≈ ₹40 × 1,000 × 25 = ₹10,00,000. Plus a Final Additional Bonus of typically ₹100–150 per ₹1,000 SA for long-term policies (₹1.0–1.5 lakh on ₹10 lakh).
| Component | Approximate amount (₹10 lakh SA, 25-year term) |
|---|---|
| Sum Assured | ₹10,00,000 |
| Simple Reversionary Bonuses | ₹10,00,000 |
| Final Additional Bonus | ₹1,25,000 |
| Maturity Total | ₹21,25,000 |
| Effective IRR | ~5.6% net of tax |
After maturity, the basic ₹10 lakh continues as life cover for life — payable to nominees on death.
The bonus rates are illustrative. LIC’s actual annual bonus depends on the corporation’s surplus declaration each year (typically declared in September). Past 5-year average bonus on Jeevan Anand has been ₹38–₹42 per ₹1,000.
Death-benefit structure
| When | What is paid |
|---|---|
| During policy term (premium-paying) | Sum Assured on Death (higher of: 125% of basic SA OR 7× annual premium) + Simple Reversionary Bonuses accrued + Final Additional Bonus (if applicable). Minimum 105% of total premiums paid. |
| After maturity (post-policy term) | Basic Sum Assured (₹X lakh) — continues as permanent life cover; payable on death of the life assured |
This is the “Anand” in Jeevan Anand — the family always gets one more SA payment after the policy matures.
Documents required
While filling online form
- Aadhaar card + PAN card
- Address proof (Aadhaar / utility bill / passport)
- Date-of-birth proof (Aadhaar / 10th certificate / Passport / Birth certificate)
- Income proof — last 6 months bank statements OR last 2 years ITR (especially for high SA)
- Recent passport-size photographs (2)
- Cancelled cheque + NACH form for ECS auto-debit
- Proposer-life-assured relationship proof (if different — typically self-proposal)
How to buy
Method 1 — LIC agent (most common)
- Find a licensed LIC agent — every neighbourhood has multiple. Ask for Plan 915 — New Jeevan Anand specifically.
- The agent runs a quote: input age, gender, sum assured, term, frequency.
- Submit proposal form + documents.
- Medical (if applicable) at empanelled centre.
- Underwriter accepts → first premium payment → policy issued → policy bond posted.
Method 2 — LIC online portal
- Open licindia.in → Buy Online → Endowment plans → New Jeevan Anand.
- Quote calculator → fill proposal → upload docs → pay first premium online.
- e-policy bond issued in 7–14 days.
Method 3 — LIC branch or bank-LIC tie-up
Walk into any LIC branch with the documents — branch officer fills the proposal. Several banks (PNB, Allahabad, Indian Bank) sell LIC products via tied agents.
⏰ Last Date: Open (rolling — no deadline)
Get a quote on LIC websiteClicking this button will take you to the official government portal.
Tax treatment
Premium — Section 80C
Up to ₹1.5 lakh per year deduction under Old Regime only (New Regime does not allow 80C). Premium must not exceed 10% of sum assured for full 80C eligibility (15% if disabled).
Maturity — Section 10(10D)
Tax-free if:
- Premium ≤ 10% of SA, AND
- For policies issued from 1 April 2023 — total premium across all such ULIPs/non-ULIP policies ≤ ₹5 lakh per year (Budget 2023 cap)
If premium exceeds 10% of SA, maturity is fully taxable as Other Income + TDS @ 5% under Section 194DA.
Death benefit
Always fully tax-free under Section 10(10D) for the nominee, regardless of premium ratio.
Loan against policy
After 3 years of premium payment, you can take a loan up to 90% of surrender value at 9% interest p.a. Loan does not affect the policy or maturity benefits if interest is paid timely.
Surrender vs continue
If you stop paying premium within 3 years, the policy lapses. After 3 years:
- Surrender Value = (number of years premium paid / total years × 30%) × premiums paid + bonus surrender value
- Paid-up Value = (premiums paid / total premiums payable × SA) — reduced cover, no future premium
Surrendering before maturity is almost always financially poor because you lose the bonus accumulation and the lifelong cover after maturity. If financially stretched, prefer “paid-up” mode over surrender.
Common questions
1. What makes New Jeevan Anand different from a normal endowment plan?
2. What is the typical bonus rate for LIC Jeevan Anand?
3. What is the IRR (effective return)?
4. Can I take a loan against the policy?
5. Is LIC Jeevan Anand tax-free?
6. What if I miss a premium payment?
7. Should I buy Jeevan Anand or a term plan + PPF?
8. Can NRIs buy Jeevan Anand?
Latest updates
LIC has retained Plan 915 (New Jeevan Anand) as its flagship endowment-with-whole-life product through FY 2025–26, with no major plan modifications. The September 2025 bonus declaration kept the simple reversionary bonus at ₹40 per ₹1,000 for Jeevan Anand. From January 2026, LIC e-policies are auto-uploaded to DigiLocker for online buyers — no need to physically receive the policy bond. The 2026 budget did not modify Section 10(10D) provisions; the ₹5 lakh annual premium cap (introduced in 2023) continues to apply.
Official links
Disclaimer. SarkariBaba is an independent information publisher. Premium rates, bonuses, and tax provisions are subject to LIC and CBDT notifications. Always obtain a personalised quote from an authorised LIC agent and read the policy document before signing.
