LIC New Jeevan Anand 715 – Double Benefit Plan (Complete Guide 2026)
LIC New Jeevan Anand 715 is one of the most trusted endowment plans offered by Life Insurance Corporation of India. It combines the benefits of guaranteed savings, bonus, maturity value and lifelong life insurance protection. If you are looking for a policy that gives both wealth creation and family security, LIC Plan 715 is an excellent choice.
In this article you will learn the eligibility, premium, maturity calculation, bonus, whole life risk cover, tax benefits and complete illustration of the LIC New Jeevan Anand 715 policy.
Why Choose LIC New Jeevan Anand 715?
- Double Benefit – Maturity + Whole Life Risk Cover
- Entry age: 18 to 50 years
- Policy term: 15 to 35 years
- Minimum Sum Assured: ₹2,00,000
- Participating plan with bonus benefits
- Lifetime insurance cover after maturity
Eligibility Details
| Feature | Details |
|---|---|
| Plan Name | LIC New Jeevan Anand 715 |
| Entry Age | 18–50 Years |
| Policy Term | 15–35 Years |
| Minimum Sum Assured | ₹2,00,000 |
Example Illustration
| Item | Value |
|---|---|
| Age | 18 Years |
| Term | 35 Years |
| Basic Sum Assured | ₹5,00,000 |
| Death Sum Assured | ₹6,25,000 |
| D.A.B. | ₹5,00,000 |
Premium Details
| Mode | Premium |
|---|---|
| Yearly | ₹15,396 |
| Half-Yearly | ₹7,780 |
| Quarterly | ₹3,931 |
| Monthly (ECS) | ₹1,310 |
| Average Per Day | ₹42 |
One of the biggest advantages of LIC New Jeevan Anand 715 is affordability. A premium of only around ₹42 per day can create long-term wealth while protecting your family with lifelong insurance coverage.
Approximate Maturity Benefit
| Benefit | Amount |
|---|---|
| Basic Sum Assured | ₹5,00,000 |
| Bonus | ₹8,05,000 |
| Final Additional Bonus | ₹11,50,000 |
| Total Approximate Maturity Value | ₹24,55,000 |
Total Premium Paid
₹5,38,860
Total Approximate Premium Paid During 35 Years
Lifetime Whole Life Risk Cover
This is the unique feature that makes LIC New Jeevan Anand 715 different from many traditional endowment plans. After receiving the maturity amount, your insurance protection does not end. The policy continues to provide ₹5,00,000 Whole Life Risk Cover for your lifetime without purchasing another policy.
Lifetime Benefit
₹5,00,000
Whole Life Risk Cover Continues Even After Maturity
Death Benefit
If the life assured dies during the policy term, the nominee receives the applicable Death Sum Assured along with bonus benefits as per LIC rules. This helps protect the financial future of the family and ensures long-term security.
- Financial protection for family
- Bonus participation
- Long-term wealth creation
- Lifetime insurance support
Tax Benefits
LIC New Jeevan Anand 715 also offers income tax benefits under the prevailing Income Tax Act, subject to government rules. Premiums paid and eligible maturity benefits may qualify for tax advantages depending on the applicable provisions.
Who Should Buy LIC Plan 715?
This policy is ideal for salaried employees, self-employed professionals, young parents, business owners and anyone looking for a combination of savings and life insurance. It is especially suitable for people who want guaranteed long-term financial planning with bonus participation.
- Young professionals starting investments
- Parents planning family security
- Long-term wealth builders
- Retirement-oriented investors
- People seeking lifelong insurance protection
Key Benefits at a Glance
| Benefit | Available |
|---|---|
| Maturity Benefit | Yes |
| Bonus | Yes |
| Final Additional Bonus | Yes |
| Lifetime Risk Cover | Yes |
| Tax Benefit | Yes* |
Frequently Asked Questions (FAQ)
1. What is LIC New Jeevan Anand 715?
It is a participating endowment plan that offers maturity value, bonus and lifelong life insurance protection.
2. What is the entry age?
The minimum entry age is 18 years and the maximum is 50 years.
3. What is the minimum Sum Assured?
The minimum Basic Sum Assured starts from ₹2,00,000.
4. Does the policy provide whole life cover?
Yes. After maturity, the policy continues to provide whole life risk cover equal to the Basic Sum Assured.
5. Is bonus guaranteed?
Bonus and Final Additional Bonus are declared by LIC from time to time and are not guaranteed.
Conclusion
LIC New Jeevan Anand 715 remains one of the strongest traditional life insurance plans because it combines disciplined savings, bonus accumulation, maturity benefits and lifelong family protection in a single policy. If your goal is financial security along with long-term wealth creation, this plan deserves serious consideration.
Disclaimer: The premium, bonus, FAB and maturity figures shown above are approximate illustrations for educational purposes only. Actual benefits depend on LIC rules, bonus declaration and policy conditions.
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