LIC New Jeevan Anand 915 is an endowment plan with whole-life cover that LIC sold from 1 February 2020 to 30 September 2024. It pays the sum assured plus bonuses at maturity and keeps the sum assured as life cover for life afterwards. By our estimate, a 30-year-old with ₹10 lakh cover for 21 years pays about ₹55,700 a year and could receive around ₹20.15 lakh at maturity.
New Jeevan Anand 915 Premium & Maturity Calculator
Your estimate
- Premium per instalment
- ₹27,850
- Premium paying term
- 21 years
- Total premium paid
- ₹5,84,850
- Total bonus (estimated)
- ₹4,72,500
- Final additional bonus
- ₹35,000
- Sum assured on deathplus bonuses accrued
- ₹6,25,000
- Death benefitif death happens in the last policy year
- ₹11,32,500
- Life coverwhole-life cover after maturity, no further premium
- ₹5,00,000
- Age at maturity
- 51 years
- Total premium paid₹5,84,85058%
- Net gain₹4,22,65042%
Individual life insurance premiums are exempt from GST from 22 September 2025. Figures are estimates based on typical rates and may differ from LIC’s official quote.
What is LIC New Jeevan Anand Plan 915?
LIC New Jeevan Anand 915 (UIN 512N279V02) is a participating, non-linked plan that combines an endowment policy with lifelong cover. You pay premiums for the whole policy term, bonuses build up every year, and at maturity you receive the sum assured plus bonuses. After that, the policy keeps a life cover equal to the basic sum assured for the rest of your life, free of premiums.
LIC launched Plan 915 on 1 February 2020 to replace New Jeevan Anand 815, and sold it until 30 September 2024. From 1 October 2024 it was replaced by New Jeevan Anand 715. A large number of 915 policies are still in force, so this page is written mainly for existing policyholders who want to check their premium, maturity value and death cover.
Jeevan Anand 915 at a glance
| Feature | Details |
|---|---|
| Plan number / UIN | 915 / 512N279V02 |
| Plan type | Participating, non-linked endowment with whole-life cover |
| Sold | 1 Feb 2020 – 30 Sep 2024 (withdrawn from 1 Oct 2024) |
| Policy term | 15 to 35 years |
| Premium paying term | Same as policy term |
| Entry age | 18 to 50 years |
| Maximum maturity age | 75 years |
| Minimum sum assured | ₹1,00,000 (no upper limit) |
| Premium modes | Yearly, half-yearly, quarterly, monthly |
| Grace period | 30 days (15 days for monthly mode) |
| Loan / surrender | After 2 full years of premiums |
Eligibility conditions
| Condition | Minimum | Maximum |
|---|---|---|
| Age at entry | 18 years (completed) | 50 years (nearest birthday) |
| Policy term | 15 years | 35 years |
| Age at maturity | — | 75 years |
| Basic sum assured | ₹1,00,000 | No limit |
How the Jeevan Anand 915 premium is calculated
The premium starts from a tabular rate per ₹1,000 of sum assured for your age and term. Longer terms carry a lower yearly rate because the cost is spread over more years. Our calculator:
- multiplies the age- and term-based rate by the sum assured ÷ 1,000 to get the yearly premium;
- converts it to your instalment using LIC’s modal factors (half-yearly about 50.5%, quarterly about 25.5% and monthly about 8.5% of the yearly premium);
- adds no GST, because individual life insurance premiums have been GST-exempt since 22 September 2025. Before that date, LIC charged 4.5% GST in the first year and 2.25% after, so older receipts show slightly higher amounts.
Worked example: a 30-year-old takes ₹10 lakh cover for 21 years. The estimated premium is ₹55,700 a year, about ₹11,69,700 over the full term. Under the old GST rules, the first-year premium would have been about ₹58,206; today the ₹55,700 base premium is the full amount due.
A second example: a 25-year-old with ₹5 lakh cover for 25 years pays about ₹1,938 a month, or ₹5,81,400 over 25 years, for an estimated maturity of ₹10,97,500.
Tip: your actual premium is printed on your policy bond and premium receipts. If it differs from the calculator, trust the receipt. Use the calculator mainly to understand your maturity and death benefit.
Maturity benefit
On surviving the full term, you receive the basic sum assured + simple reversionary bonuses + final additional bonus (if declared). The source figures for this plan used a bonus of about ₹41 per ₹1,000 a year; longer terms have seen higher rates, so the calculator defaults to ₹45 and lets you change it.
For the ₹10 lakh, 21-year example, a ₹45 bonus adds ₹9,45,000 and a final additional bonus of ₹70 per ₹1,000 adds ₹70,000. The estimated maturity is ₹20,15,000 against total premiums of about ₹11.7 lakh. Run a lower bonus rate as well to see a cautious outcome.
Death benefit
- During the policy term: the nominee receives the sum assured on death (the higher of 125% of the basic sum assured or 7 times the annualised premium) plus accrued bonuses and any final additional bonus. For ₹10 lakh cover the sum assured on death is ₹12,50,000; if death happened in the last policy year, the total with bonuses would be about ₹22,65,000.
- After maturity: the basic sum assured (₹10 lakh here) is paid to the nominee on death at any age, with no further premiums.
Loan, surrender, paid-up and revival
- Loan: available after two full years of premiums, as a share of the surrender value.
- Surrender: possible after two full years. LIC pays the higher of the guaranteed and special surrender values. Check an estimate with our LIC surrender value calculator before deciding.
- Paid-up: stop paying after two years and the policy continues with a reduced sum assured, keeping the bonuses already attached.
- Revival: a lapsed policy can be revived within five years of the first unpaid premium, with interest.
Tax benefits
Premiums qualify for Section 123 of the Income-tax Act, 2025 (earlier Section 80C) deduction under the old tax regime. Maturity and death proceeds are generally exempt under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)) if the yearly premium is within 10% of the sum assured; for policies issued after 1 April 2023, the ₹5 lakh aggregate premium limit also applies.
Should you continue your Jeevan Anand 915 policy?
For most policyholders, yes. The biggest costs of a with-profit plan are in the early years, and by now your policy has bonuses attached and a guaranteed lifelong cover that a new policy would price at your current age. Continuing makes sense if:
- you can afford the premium comfortably;
- you value a guaranteed amount at maturity and a fixed sum for your family whenever you die;
- you already have a separate term plan for large protection needs.
If cash flow is tight, consider a policy loan or making the policy paid-up before surrendering.
Jeevan Anand 915 vs 715 vs 815
| Feature | 815 | 915 | 715 |
|---|---|---|---|
| On sale | 2014 – Jan 2020 | Feb 2020 – Sep 2024 | From Oct 2024 |
| Minimum sum assured | ₹1 lakh | ₹1 lakh | ₹2 lakh |
| Sum assured on death | Higher of 125% SA or 10× annual premium | Higher of 125% SA or 7× annual premium | Higher of 125% SA or 7× annual premium |
| Loan / surrender | After 3 years | After 2 years | After 2 years |
For the same 30-year-old, ₹10 lakh, 21-year case, our calculators estimate about ₹51,646 a year for 815, ₹55,700 for 915 and ₹55,157 for 715, so the current version costs about the same as 915 at this age (715 figures are based on LIC’s brochure sample premiums). New buyers can only choose 715; see the Jeevan Anand 715 calculator for current premiums.
How to use this calculator
- Enter the age at entry and policy term from your policy bond.
- Enter the basic sum assured.
- Select the premium mode you pay in.
- Adjust the bonus and final additional bonus rates if you have LIC’s latest bonus letter.
- Read the premium, maturity estimate, death benefit and lifelong cover.
All figures are approximate. We are an independent site, not connected with LIC.
Frequently asked questions
Is LIC New Jeevan Anand 915 still available?
No. LIC stopped selling Plan 915 from 1 October 2024 and launched New Jeevan Anand 715 in its place. If you already hold a 915 policy, nothing changes: premiums, bonuses, loan facility and lifelong cover continue exactly as per your policy document.
What is the maturity amount of Jeevan Anand 915 for ₹10 lakh?
It depends on the term and the bonuses LIC declares. For a 21-year policy with a ₹45 bonus rate and a ₹70 per ₹1,000 final additional bonus, our calculator estimates about ₹20,15,000: ₹10 lakh sum assured, ₹9,45,000 bonus and ₹70,000 final bonus.
What is the death benefit under New Jeevan Anand 915?
During the term, the nominee gets the sum assured on death plus accrued bonuses and any final additional bonus. Sum assured on death is the higher of 125% of the basic sum assured or 7 times the annualised premium. After maturity, the basic sum assured is paid on death at any age.
What are the entry age and term limits in Jeevan Anand 915?
Entry age is 18 to 50 years and the policy term is 15 to 35 years, with a maximum maturity age of 75. The minimum sum assured is ₹1 lakh with no upper limit. Premiums are paid for the full policy term.
When can I take a loan or surrender Jeevan Anand 915?
Once two full years' premiums are paid, the policy acquires a surrender value. You can then surrender it or take a loan against it. Surrendering early usually returns less than the premiums paid, so a loan is often the better option for a short-term need.
How is Jeevan Anand 915 different from 815?
Plan 915 brought the older 815 design in line with IRDAI's 2019 product rules. Death cover changed from 10 times to 7 times the annualised premium (still at least 125% of sum assured), loan and surrender became available after two years instead of three, and premium rates were revised.
Should I surrender my Jeevan Anand 915 and buy 715?
Usually not. Surrendering a running policy costs money, and the new 715 is priced for your current, older age. Your 915 policy already has bonuses attached and lifelong cover. Review it only if the premium is genuinely unaffordable, and compare the surrender value with a paid-up option first.
Disclaimer: LIC Premium Calculators is an independent website. We are not affiliated with, endorsed by or connected to Life Insurance Corporation of India. All figures are estimates for illustration; confirm exact premiums and benefits with LIC or a licensed agent before buying.