About LIC’s New Jeevan Anand Plan No. 715 – Full Details, Benefits & Free Quote 2025

LIC’s New Jeevan Anand Plan No. 715 (UIN: 512N279V03) is a non-linked, participating whole life endowment insurance policy that combines disciplined savings with lifelong protection. Launched on October 1, 2024, as the successor to the earlier Jeevan Anand (Plan 815), it delivers a guaranteed maturity lump sum at the end of the policy term while extending full death cover until age 100—even after maturity—without any further premiums. This dual-benefit design makes it an ideal choice for salaried individuals, parents planning for children’s education, or anyone building a retirement corpus with peace of mind. With IRDAI’s latest norms capping surrender charges at 7.5% and mandating clear bonus disclosures, the plan ensures transparency and policyholder confidence. For those searching “best endowment plans India 2025 with lifelong protection”, “LIC New Jeevan Anand Plan 715 buy online”, or “tax saving investments for salaried employees FY26”, this plan offers stability amid inflation at 5-6%. The structure supports compounding through bonuses while guaranteeing capital safety. This is general guidance—consult a certified advisor for your unique needs. Past performance does not guarantee future returns, and all investments carry risk. Claim your free New Jeevan Anand 715 premium quote today to explore how it fits your financial journey.

Why New Jeevan Anand Is Trusted

•    Non-linked, participating plan—returns are fully protected from market fluctuations, making it a safe haven when equity indices experience 14% annual volatility as reported by NSE. This structure appeals to risk-averse families who value capital preservation over speculative gains, ensuring the core sum assured remains intact regardless of economic shifts. The plan avoids the pitfalls of market-linked products, where returns can swing wildly during global events or domestic policy changes.

•    Earns regular bonuses—as a with-profit policy, you share in LIC’s surplus through simple reversionary bonuses declared annually, with the latest rate at ?48 per ?1,000 sum assured, backed by LIC’s strong solvency ratio of 1.87. These bonuses vest irrevocably and compound over time, significantly enhancing the final payout without any market-linked deductions. The bonus system is rooted in actuarial calculations, distributing profits fairly among participating policyholders.

•    Life cover does not end at maturity—risk protection continues till age 100 without additional premiums, a feature widely appreciated in online investor communities for providing unmatched long-term family security compared to standard term plans that expire after a fixed period. This extension transforms the policy into a lifelong safety net, covering unforeseen events even decades after the savings phase concludes.

LIC maintains a claim settlement ratio of 98.7%, with most claims processed digitally via NEFT within 30 days, reinforcing trust across generations. The plan’s ability to deliver 5.5-6.2% historical IRR while beating inflation makes it a cornerstone for “child education plan with insurance India”. Unlike unregulated schemes promising unrealistic returns, this is fully regulated by IRDAI with transparent profit-sharing mechanisms. In discussions on investor forums, users highlight its resilience during market downturns, where bonuses continued despite low interest rates. The plan also supports salary deduction for government employees, adding convenience. The participating nature ensures that even in conservative investment years, the base sum assured is secure. For young parents, this means funding milestones like higher education without dipping into emergency funds. Get instant New Jeevan Anand 715 proposal online and secure your family’s future with confidence.

Key Features & Plan Structure

•    Policy Type: Endowment assurance with whole life risk cover, delivering a maturity payout plus perpetual protection—a rare combination in traditional insurance that eliminates the need for separate term and savings products. This hybrid model simplifies financial planning by consolidating goals under one regulated umbrella.

•    Who Can Buy: Entry age 18–50 years; maximum maturity age up to 75 years, suitable for young professionals starting early to mid-career individuals planning long-term goals like education or retirement. Early entry locks in lower premiums and maximizes bonus accrual over decades.

•    Policy Term: Flexible from 15 to 35 years, allowing alignment with life milestones—shorter terms for immediate needs like wedding funds, longer for compounding towards children’s higher education or legacy building. The extended range accommodates diverse life stages, from newlyweds to pre-retirees.

•    Sum Assured: Minimum ?2,00,000; no upper ceiling (in multiples of ?5,000 above ?2 lakh), enabling coverage from basic family needs to multi-crore protection for high-net-worth individuals. Higher sum assured attracts better bonus rates per thousand, optimizing returns.

•    Premium Payment: Regular pay only, matching full policy term; modes include yearly (2% rebate), half-yearly (1% rebate), quarterly, or monthly via ECS/NACH for salary-aligned convenience and budgeting ease. The rebate system rewards disciplined annual payers, reducing effective cost.

•    Loan Facility: Available after two full years’ premiums, up to 90% of surrender value at approximately 9% p.a. interest—ideal for bridging cash flow gaps without policy lapse or bonus loss. Loans are processed quickly, with interest payable only on outstanding amounts.

Digital issuance through e-KYC reduces processing to 7-10 days via LIC’s official portal. The plan offers 5-8% rebates for women and non-smokers, promoting inclusivity. It serves as a safer alternative to “high return mutual funds for beginners under ?5000 monthly”, delivering consistent growth with zero market risk. Compared to bank recurring deposits, it provides superior effective yield through tax benefits and bonuses. The regular pay structure ensures commitment, while the loan feature adds liquidity not found in fixed deposits. For government employees, salary deduction simplifies compliance. Avail special women rebate on New Jeevan Anand 715 to enhance affordability and start early.

How New Jeevan Anand Plan No. 715 Works

1.    Start by choosing your coverage and policy term—a 32-year-old parent might select a 25-year term with ?15 lakh sum assured to counter education inflation at 8-10% annually, ensuring the payout keeps pace with rising costs. The choice of term directly impacts premium affordability and bonus accumulation.

2.    Pay premiums as per selected mode—level premiums calculated on age, health, and habits remain fixed throughout, ensuring budgeting ease and no mid-term surprises. Premiums are determined using actuarial tables approved by IRDAI.

3.    On Survival (Maturity):  Receive Basic Sum Assured + all vested simple reversionary bonuses + Final Additional Bonus (if declared, typically ?50-100 per ?1,000 for long terms). The FAB is a terminal reward for sustained commitment.

4.    After Maturity: 

•   Life cover continues till age 100 without further premiums—your family remains protected indefinitely, transforming the plan into pure whole life assurance. This phase requires no action from the policyholder.

5.    On the Policyholder’s Demise: 

•  During term: Higher of 125% Basic Sum Assured or 7x annualized premium + bonuses (minimum 105% of premiums paid).

•  Post-maturity: Full Basic Sum Assured paid again, creating a second financial safety net for loved ones.

Real-Life Example (Illustrative, Anonymized): Mr. Rajesh, a 35-year-old government officer with ?14 lakh annual income, enrolled in New Jeevan Anand 715 with ?12 lakh Sum Assured for 25 years. Annual premium: ?55,000 (yearly mode, non-smoker). After 6 years, he has paid ?3.3 lakh and earned ?1.6 lakh in vested bonuses. Projected maturity at age 60: ~?20 lakh (SA + ?48/?1,000 average bonus + FAB), yielding ~5.8% IRR. This will fund his son’s MBA. Post-maturity, no premiums are due, but if he passes at 78, his wife receives another ?12 lakh—total family benefit ~?32 lakh. (Returns illustrative; consult advisor.)

This mechanism fosters disciplined saving with dual payouts, as confirmed by LIC’s historical bonus trends showing steady growth. The process is straightforward with online tracking and annual statements. The maturity benefit can be taken in installments if needed, offering flexibility for phased spending. The death benefit ensures nominees receive funds promptly, with IRDAI-mandated timelines.

Download free New Jeevan Anand 715 maturity calculator to estimate your returns and plan effectively.

Benefits in Detail

•    Dual Benefit: Maturity lump sum + lifelong death cover—addresses savings and protection without needing separate policies, reducing overall cost and complexity. This consolidation simplifies portfolio management.

•    Sum Assured on Death: During term, higher of 125% Basic SA or 7x annual premium + bonuses/FAB; guarantees minimum 105% return of premiums paid, protecting against early exits and ensuring capital recovery.

•    Tax Benefits: Premiums eligible for deduction under Section 80C up to ?1.5 lakh; maturity and death benefits exempt under Section 10(10D) if premium ≤10% SA and ≤?2.5 lakh annually—boosting post-tax yield by 1-2%. The tax shield applies across income slabs.

•    Bonuses: Annual simple reversionary (?48 per ?1,000 latest) + potential FAB at maturity/claim—enhances growth from LIC’s surplus without equity exposure. Bonuses are non-guaranteed but historically consistent.

•    Liquidity: Policy loans from year 3 at 9% interest; surrender post-2 years with 30%+ of premiums (GSV) or higher special value—useful for medical or business needs without full exit.

•    Flexible Payout: Maturity receivable as lump sum or in installments (5/10/15 years) via settlement option for steady income, mimicking annuity benefits for retirees.

•    Revival & Surrender: Revival within 5 years at 9.5% p.a. interest; early surrender reduces value—long-term holding maximizes returns and bonuses. A 15-day free look period allows cancellation with refund.
Rider Options Explained

Optional riders include Accidental Death Benefit (up to ?15 lakh extra) and Critical Illness (?5 lakh lump sum) at nominal cost. These add-ons enhance protection against accidents or major illnesses, paid as lump sum on claim. Riders cease at maturity but integrate seamlessly during the term. Get free rider comparison chart to strengthen your plan.

Requirements & Eligibility

Medical examination required for SA >?25 lakh or age >45. Smokers pay 20-50% higher. NRIs eligible via NRE/FCNR accounts with full repatriation. Proof of income needed for high SA. Claim your free eligibility check before proceeding.

What Makes LIC New Jeevan Anand Stand Out?

•    Lifelong family protection post-maturity—covers till age 100 with a second payout, unmatched by most endowments and ideal for legacy planning. This feature ensures generational wealth transfer.

•    Simple, transparent participation in LIC’s ?50+ lakh crore asset base—bonuses from actuarial surplus, declared annually with IRDAI oversight. The process is audited and public.

•    Low risk, safe growth—5.5-6.2% historical IRR, outperforming 7% FDs with added cover and tax savings amid gold at ?70,000/10g. It thrives in low-interest environments.

•    No upper limit on coverage—from ?2 lakh to multi-crore, with rebates for women (5-8%) and non-smokers for broader accessibility. Scalability suits all income levels.

•    Flexibility: Loans, surrenders, revivals with 15-day free look; grace period 30/15 days for missed payments. Partial surrender not allowed to maintain policy value.
vs. Term Plan: +Savings & lifelong cover, -Higher premium vs. ULIP: +Guaranteed base, -Lower upside potential vs. Jeevan Umang: +Lump sum focus, -No annual income

Related Plans: See Jeevan Labh for limited pay option. Online investor forums praise its “set-and-forget” reliability for busy professionals. Get free New Jeevan Anand 715 policy review for clarity.
Common Queries Answered

•    Who is it best for? This plan suits salaried or self-employed individuals aged 25-45, parents saving for education or marriage, and retirees planning legacies—perfect for “retirement schemes India 2025”. It’s especially valuable for those seeking a balance between immediate protection and long-term wealth growth, accommodating diverse income levels and life stages.

•    Is the payout taxable? Maturity and death benefits are exempt under Section 10(10D) if premiums meet limits; premiums qualify for 80C deduction up to ?1.5 lakh—however, high-premium policies (>?2.5 lakh) may lose this exemption, so consult a tax expert for clarity.

•    Can I add riders? Yes, you can enhance coverage with Accidental Death Benefit (up to ?15 lakh extra) or Critical Illness (?5 lakh lump sum) at a low additional cost, offering protection against accidents or major health issues without needing separate policies.

•    How do I claim? Submit the policy bond, death certificate, and nominee ID proof; LIC settles 98.7% of claims within 30 days via NEFT, with dedicated helplines assisting families through the process efficiently.

•    NRIs eligible? Yes, NRIs can purchase via NRE or FCNR accounts, enjoying full repatriation and tax benefits, making it a viable option for overseas Indians planning for family back home.

•    Surrender year 5? Surrendering after 5 years returns approximately 50-60% of premiums paid, depending on bonuses; long-term holding is recommended to maximize benefits and avoid significant value loss.
Avail free tax benefit calculator now.

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References (Max 5):
1.    LIC Bonus Declaration (latest valuation report)
2.    LIC Solvency Ratio Report
3.    IRDAI Claim Settlement Guidelines
4.    Income Tax Act, 1961 (Section 80C & 10(10D))
5.    NSE India Volatility Index