LIC New Jeevan Anand Plan 715 Calculator: Maturity & Premium (2025)
The LIC New Jeevan Anand Plan 715 Calculator is a comprehensive tool designed to help you instantly estimate your Premium, Maturity Amount, and Lifetime Risk Cover. Whether you are planning for your family’s security or your own retirement, this tool breaks down the exact returns you can expect based on current bonus rates.
Simply enter your age and desired Sum Assured to see a year-by-year illustration of your policy’s growth.
How to Use This LIC Calculator
We have designed this tool to mimic an official LIC illustration but with a simpler interface. Follow these steps:
- Enter Age: Input your current age (Entry age is between 18 and 50 years).
- Select Policy Term: Choose how long you want to pay premiums (e.g., 15, 20, 25 years).
- Enter Sum Assured: This is the base life cover amount you want (Minimum ₹1,00,000).
- Accident Rider (Optional): Toggle this to see how a small extra premium adds significant cover against accidental death or disability.
- Result: The calculator generates a summary showing your Total Premium Paid vs. Total Lifetime Gain.
Note: Scroll down to the “Year-wise Policy Illustration” table to check the Surrender Value and Loan Availability for any specific year.
What is LIC New Jeevan Anand (Plan 715)?
The New Jeevan Anand (Table 715) is LIC’s most popular “Double Benefit” plan. It is a unique combination of an Endowment Plan and a Whole Life Plan.
Why is it unique?
In a standard insurance policy, the cover ends once you receive the maturity amount. However, in Plan 715, even after you receive the full maturity amount at the end of the term, your life cover continues for the rest of your life without paying any more premiums.
Real-Life Example: How the Returns Work
Let’s calculate the returns for Ravi, a 30-year-old IT professional who wants to secure his family.
- Sum Assured: ₹10,00,000 (10 Lakhs)
- Policy Term: 20 Years
- Annual Premium: Approx. ₹54,000
Scenario A: Ravi Survives the Term (Maturity Benefit)
At age 50, Ravi pays his last premium. He receives a lump sum maturity amount:
- Basic Sum Assured: ₹10,00,000
- Vested Bonuses: ₹9,00,000 (Approx)
- Final Additional Bonus (FAB): ₹70,000 (Approx)
- Total Payout: ~₹19.7 Lakhs (Tax-Free under Section 10(10D))
Scenario B: The Lifetime Cover (Death Benefit)
After receiving the ₹19.7 Lakhs, Ravi’s policy does not end. If Ravi passes away at age 75, his nominee will again receive ₹10,00,000 (the original Sum Assured).
The Math: How Maturity is Calculated
To trust the numbers, you must understand the formula. The maturity value of LIC New Jeevan Anand is calculated using three components:
Maturity Value = Sum Assured + Simple Reversionary Bonus + Final Additional Bonus (FAB)
- Sum Assured: The guaranteed amount you chose at the start.
- Simple Reversionary Bonus: Declared by LIC annually (currently approx ₹40-₹45 per ₹1,000 Sum Assured).
- Final Additional Bonus (FAB): A one-time loyalty bonus paid if the policy runs for a long term (usually 15+ years).
Key Features & Benefits
- Death Benefit:
- During Policy Term: Sum Assured on Death (125% of Basic Sum Assured) + Vested Bonuses.
- After Maturity: Basic Sum Assured is paid to the nominee.
- Tax Benefits: Premiums paid are eligible for deduction under Section 80C. The maturity amount and death claim are tax-free under Section 10(10D).
- Loan Facility: You can avail of a loan against the policy after 3 full years of premium payment. Our calculator shows the exact “Loan Available” amount in the yearly table.
- Accident Benefit Rider: If opted, an additional Sum Assured is paid in case of accidental death, and premiums are waived in case of permanent disability.
LIC New Jeevan Anand vs. Term Insurance
Many investors are confused between Plan 715 and pure Term Insurance. Here is the difference:
| Feature | New Jeevan Anand (715) | Pure Term Insurance |
| Type | Savings + Protection | Pure Risk Protection |
| Maturity Benefit | Yes (Money back + Bonus) | No (Money is gone if you survive) |
| Premium Cost | Higher | Very Low |
| Lifetime Cover | Yes (Free cover after maturity) | No (Cover ends after term) |
| Ideal For | Safe returns + Legacy creation | High cover at low cost |
Frequently Asked Questions (FAQs)
The “Sum Assured” is guaranteed. However, the Bonus and Final Additional Bonus depend on LIC’s yearly profit declarations. Our calculator uses current illustrative rates to give you a realistic estimate.
Yes, you can surrender the policy after paying premiums for 2 full years. However, surrendering early results in a financial loss. Check the “Cash Value” column in our calculator’s table to see how much you will get back.
If you stop after 2 years, the policy becomes a “Paid-up Policy” with reduced benefits. If you stop before 2 years, the policy lapses and you lose the money paid.
No, the death benefit received by the nominee is completely tax-free under Section 10(10D) of the Income Tax Act.
The Lifetime Gain in our calculator is: (Maturity Amount + Post-Maturity Death Benefit) – Total Premiums Paid. This shows the total wealth generated for your family over the policy’s life.