Free Online Tool

LIC Jeevan Anand Calculator (Plan 915)

Calculate your LIC Jeevan Anand premium and estimated maturity amount instantly. Enter your age, sum assured, and policy term to get started.

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What is the LIC Jeevan Anand Calculator?

The LIC Jeevan Anand Calculator is a free online tool designed to help you estimate the annual premium and maturity amount for LIC's Jeevan Anand (Plan 915) policy. Jeevan Anand is one of LIC's most popular endowment plans because of its unique feature — it provides whole life coverage even after the policy matures. The calculator takes your age, sum assured, and policy term as inputs and gives you an instant estimate of the premium you need to pay and the amount you can expect on maturity. While the exact numbers depend on LIC's board-declared bonus rates and final addition, this tool gives you a reliable estimate to plan your financial goals.

Jeevan Anand stands apart from other LIC plans because it continues to provide life insurance cover for the sum assured even after the maturity date. This means if you outlive the policy term, you receive the maturity proceeds and the life cover continues until you attain age 100 or die, whichever is earlier. This combination of savings and lifelong protection makes Jeevan Anand a preferred choice for individuals who want their family to remain financially protected even after the policy term ends.

How to Use the Jeevan Anand Premium Calculator

Using this calculator is straightforward:

Enter Your Age: Provide your current age (between 18 and 50 years). Younger applicants generally get lower premiums.
Enter Sum Assured: The amount of life cover you need. The minimum sum assured is ₹1,00,000, and it should be in multiples of ₹10,000.
Select Policy Term: Choose between 15 and 35 years. A longer term means lower premiums but you will pay for more years.
Click Calculate: Get your estimated annual premium, maturity amount including bonuses, and the total estimated bonus.

The calculator uses standard premium rates applicable for Jeevan Anand and estimates bonuses at current declaration rates. The actual premium may vary based on your specific health profile, occupation, and other underwriting factors assessed by LIC.

Understanding Jeevan Anand Plan 915 Features

LIC Jeevan Anand (Plan 915) is a non-linked, with-profit endowment assurance plan that offers a unique combination of savings and whole life protection. The key features include: death cover of sum assured plus accrued bonuses throughout the policy term; maturity benefit of sum assured along with vested bonuses and final addition; and whole life coverage after maturity for the basic sum assured until age 100. The plan also offers loan facility against the policy, surrender value option, and tax benefits under Section 80C and Section 10(10D). This makes it an excellent choice for individuals looking for long-term financial planning with life insurance.

The premium calculation for Jeevan Anand depends on several factors. The primary factor is your age at entry — younger policyholders benefit from lower premiums as the risk to LIC is lower over a longer period. The sum assured directly affects the premium — your premium is roughly proportional to the sum assured. The policy term also matters — a longer term spreads the premium over more years, reducing the annual premium amount. Mode of premium payment (yearly, half-yearly, quarterly, monthly) also affects the total premium, with yearly payment being the most economical.

Jeevan Anand Maturity Amount Calculation

The maturity amount of LIC Jeevan Anand consists of three components: the basic sum assured, Simple Reversionary Bonuses declared annually, and the Final (Loyalty) Addition payable at maturity. The Simple Reversionary Bonus is declared by LIC each year based on its valuation surplus. For example, if LIC declares a bonus of ₹45 per ₹1,000 sum assured for the year, a policy with ₹5,00,000 sum assured will earn a bonus of ₹22,500 for that year. These bonuses accumulate over the policy term and are paid along with the sum assured at maturity. The Final Addition is an additional amount that LIC may declare for policies that complete the full term.

Maturity Amount = Sum Assured + Total Simple Reversionary Bonuses + Final (Loyalty) Addition

For example, if you take a 20-year Jeevan Anand policy with a sum assured of ₹5,00,000 at age 30, assuming a bonus rate of ₹45 per ₹1,000 sum assured and a final addition of ₹20 per ₹1,000, the maturity amount would be approximately: ₹5,00,000 + (₹45 × 500 × 20) + (₹20 × 500) = ₹5,00,000 + ₹4,50,000 + ₹10,000 = ₹9,60,000. Note that bonus rates vary each year and are not guaranteed.

Benefits of Whole Life Coverage After Maturity

The most distinguishing feature of Jeevan Anand is that the life insurance coverage continues even after the policy matures. While you receive the maturity proceeds, the basic sum assured continues to be payable to your nominee in case of death at any time after maturity until you reach age 100. This means your family remains protected even after the savings component of the policy has been paid out. This feature is particularly valuable for individuals who want to ensure that their family has financial protection throughout their lifetime, not just during the policy term. It eliminates the common problem where a policyholder outlives the term and then struggles to get affordable life insurance at an older age.

Tax Benefits Under Jeevan Anand

LIC Jeevan Anand offers significant tax advantages. Under Section 80C of the Income Tax Act, the premiums paid towards the policy are eligible for deduction up to ₹1,50,000 per financial year, provided the premium does not exceed 10% of the sum assured. The maturity proceeds and death benefits are completely tax-free under Section 10(10D) of the Income Tax Act, subject to the same condition. This makes Jeevan Anand a tax-efficient instrument for long-term savings. Additionally, there is no tax on the bonus amounts received at maturity, making the entire maturity proceeds tax-free in the hands of the policyholder.

Should You Choose Jeevan Anand?

LIC Jeevan Anand is ideal for individuals who want a combination of life insurance coverage and savings with guaranteed returns (sum assured) plus potential bonuses. It is suitable for those who want whole life protection without having to buy a new policy after the term ends. The plan works well for conservative investors who are comfortable with the moderate returns typical of traditional life insurance plans (IRR of 4-6%). However, if you are looking for higher returns and are willing to take market risks, you might consider ULIPs, mutual funds, or other market-linked investments. For pure term insurance at lower cost, a term plan like LIC Jeevan Lakshya or Tech Term may be more appropriate.

Frequently Asked Questions

What is LIC Jeevan Anand Plan 915?

LIC Jeevan Anand (Plan 915) is a non-linked, participating endowment plan that combines savings with life insurance coverage. It offers financial protection throughout the policy term and pays the sum assured along with bonuses on maturity. Additionally, the plan provides life cover for the full sum assured even after maturity until the age of 100 or death whichever is earlier, making it a unique whole life coverage policy.

How is LIC Jeevan Anand maturity amount calculated?

The maturity amount of LIC Jeevan Anand is calculated as: Sum Assured + Loyalty Addition + Final Addition. The sum assured is the amount chosen at policy inception. Bonuses (Simple Reversionary Bonuses) are declared annually by LIC and added to the policy. A loyalty addition is paid if the policy runs for the full term. After maturity, the coverage continues for the sum assured (not including bonuses) until age 100.

How to calculate LIC Jeevan Anand premium online?

To calculate LIC Jeevan Anand premium, enter your age, sum assured, and policy term into our calculator. The premium depends on three factors: age at entry (younger age = lower premium), sum assured (higher sum = higher premium), and policy term (longer term = lower premium). The calculator uses LIC's standard premium rate tables for a rough estimate. For exact quotes, always check with LIC or use their official online premium calculator.

What is the minimum sum assured for Jeevan Anand?

The minimum sum assured for LIC Jeevan Anand (Plan 915) is ₹1,00,000. There is no maximum limit, but higher sum assured policies may require additional medical underwriting. The sum assured can be in multiples of ₹10,000 or higher. For policies with sum assured above ₹10,00,000, LIC may ask for proof of income and medical tests.

What is the minimum and maximum entry age for Jeevan Anand?

The minimum entry age for LIC Jeevan Anand (Plan 915) is 18 years (completed) and the maximum entry age is 50 years (nearer birthday). The policy term can be chosen between 15 years and 35 years. The sum assured must be at least 10 times the annual premium for policies up to age 44, and 7 times for age 45 and above to qualify for tax benefits under Section 80C and 10(10D).

What bonuses are available in LIC Jeevan Anand?

LIC Jeevan Anand offers Simple Reversionary Bonuses declared annually by LIC based on its valuation results. These bonuses are added to the policy each year and are payable on maturity or death. Additionally, a Final (Loyalty) Addition may be paid if the policy runs for the full term. The bonus rates vary each year. For example, recent bonus rates for Jeevan Anand have ranged from ₹40 to ₹50 per ₹1,000 sum assured per year.

Is LIC Jeevan Anand a good investment?

LIC Jeevan Anand can be a good investment for those seeking life insurance coverage combined with savings. Its unique feature is whole life coverage — even after maturity, the sum assured is payable on death until age 100. The returns come from guaranteed sum assured plus bonuses which are not guaranteed but are declared annually. The IRR (Internal Rate of Return) typically ranges from 4% to 6% depending on the bonus declared. It is suitable for conservative investors who want insurance plus moderate returns.

What happens if I stop paying premiums for Jeevan Anand?

If you stop paying premiums after paying at least 2 full years of premiums, the Jeevan Anand policy becomes a paid-up policy. The reduced sum assured will be calculated as (Number of Premiums Paid / Number of Premiums Payable) × Original Sum Assured. The policy continues with this reduced sum assured, and bonuses already accrued remain attached. If you stop paying within 2 years, the policy lapses with no benefits.

Can I take a loan against LIC Jeevan Anand policy?

Yes, you can take a loan against your LIC Jeevan Anand policy. The loan amount is up to 85-90% of the surrender value. The interest rate is typically around 9-10% per annum, which is lower than personal loans. To apply, submit the loan application form along with the policy document at your LIC branch. The loan is sanctioned within a few working days.

What is the tax benefit under Jeevan Anand?

LIC Jeevan Anand premiums are eligible for tax deduction under Section 80C of the Income Tax Act, up to ₹1,50,000 per year, subject to the condition that the premium does not exceed 10% of the sum assured. The maturity proceeds and death benefits are tax-free under Section 10(10D) of the Income Tax Act, provided the premium condition is met. This makes Jeevan Anand a tax-efficient investment option.

How to check LIC Jeevan Anand policy status online?

You can check your LIC Jeevan Anand policy status online by visiting the LIC India website and logging into the customer portal with your policy number and date of birth. Alternatively, you can use the LIC App, send an SMS POLICY to 5676788, or call LIC's toll-free number 1800-258-5678. You can also use our calculator to estimate the current surrender value or maturity amount.

What is the difference between Jeevan Anand and Jeevan Lakshya?

LIC Jeevan Anand provides whole life coverage — the sum assured is payable on death even after maturity until age 100. Jeevan Lakshya (Plan 933) is a risk cover plan where the sum assured is payable on death during the policy term, and on survival, the premium is returned. Jeevan Anand has a savings component with bonuses, while Jeevan Lakshya is primarily a term plan with premium return benefit.

Can NRIs buy LIC Jeevan Anand policy?

Yes, NRIs (Non-Resident Indians) can purchase LIC Jeevan Anand policy, subject to certain conditions. The premium must be paid from an NRE or NRO account. The policy will be issued in Indian rupees. On maturity, the proceeds can be credited to an NRO account. NRIs should check the applicable exchange control regulations and tax implications in their country of residence before purchasing.

What is the surrender value of LIC Jeevan Anand?

The surrender value of LIC Jeevan Anand becomes available after paying premiums for at least 2 full years. It is the higher of Guaranteed Surrender Value (GSV) and Special Surrender Value (SSV). GSV is a percentage of premiums paid (starting at 30% after 2 years, increasing to 70% after 10+ years). SSV is calculated as Paid-Up Value × Surrender Value Factor, which includes bonuses.