LIC New Jeevan Anand (Previously LIC Plan 149)

LIC New Jeevan Anand 915 (previously LIC Jeevan Anand 149) is a life assurance policy that offers a unique combination of savings and protection. The company withdrew LIC Jeevan Anand and LIC released a new version under LIC New Jeevan Anand (plan no. 915). LIC plan 915 also takes care of the liquidity requirements through its loan facility. 

Read more
Benefits of LIC Plans
Buy LIC policy online hassle free
Tax saving under Sec 80C & 10(10D)^
High returns market link plans
Sovereign guarantee as per Sec 37 of LIC Act
LIC life insurance
We are rated~
6.7 Crore
Registered Consumers
Insurance Partners
3.4 Crore
Policies Sold
Now Available on Policybazaar
Grow your wealth with LIC
We don’t spam
View Plans
Please wait. We Are Processing..
Your personal information is secure with us
Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs #Discount offered by insurance company
Get Updates on WhatsApp
We are rated~
6.7 Crore
Registered Consumers
Insurance Partners
3.4 Crore
Policies Sold

LIC New Jeevan Anand- An Overview

LIC New Jeevan Anand is an endowment life insurance policy offered by the Life Insurance Corporation of India (LIC). The plan’s core benefits include financial security against the policyholder’s death and a lump sum amount at the end of the chosen policy tenure in case of his/her survival.

LIC New Jeevan Anand 915 Plan - Key Features

Below are the key features of LIC Plan 915 (previously known as LIC Plan 149):

  • LIC New Jeevan Anand plan 915 is a participating whole-life endowment plan, which means you earn profits along with the assured benefits.

  • The plan provides an option of regular premium payment to the insured.

  • On survival till the end of the plan term, the insurance holder is paid the maturity benefit.

  • The risk covered in the policyholder's life continues throughout his/her life till the age of 100.. This means that the death benefit is paid out if death occurs during the policy term as well as after.

  • The benefits are paid along with a bonus amount which increases the final earnings of the life assured.

  • Added top-up covers as riders are available on payment of a nominal premium amount.

LIC New Jeevan Anand 915 Plan Benefit

  1. Death Benefit

    Nominees can claim the following death benefits if all the due premiums have been paid:

    • If death occurs during the policy tenure or before the maturity date:

    125% of the Base Sum Assured or 7 times the annual premium amount, whichever is higher at the time of death.

    The final additional bonus and simple reversionary bonuses are added to this amount.

    • If death occurs after the maturity date:

    Only the basic sum assured is payable.

  2. Maturity Benefit

    In case the life assured survives till the set maturity date, and has paid off all due premiums, LIC offers the basic sum assured to the insured. The applicable bonuses shall be added to this amount. One can choose to receive this amount in a lump sum or installments over 5, 10, or 15 years.

  3. Participation in Profits

    The LIC plan 915 (previously LIC plan 149) shall participate in the company’s profits. Based on the profits, LIC shares a percentage with the customers of LIC New Jeevan Anand 915 in the form of a simple reversionary bonus. A final additional bonus may also be declared based on the company’s experience during the policy term. These are however not guaranteed.

  4. Loan Facility

    The LIC New Jeevan Anand policy allows the policyholder to avail of a loan against the policy. The loan facility is available after the policy acquires a surrender value, and the maximum loan amount is typically a percentage of the surrender value.

  5. Tax Benefits

    The LIC New Jeevan Anand policy offers tax benefits to the insured on the premium paid and on the claims received under Sections 80C and 10(10D) of the Income Tax Act.

LIC New Jeevan Anand 915 - Eligibility

Criteria Minimum Maximum
Entry Age 18 years 50 years
Maturity Age - 75 years
Policy Term 15 Years 35 years
Sum Assured 1 lac No Limit
Premium Payment Term Same as Policy Term
Premium Paying Frequency Annual/Half Yearly/ Quarterly/ Monthly

Riders Benefits with LIC New Jeevan Anand – Plan No. 915

Four optional LIC riders are available under the policy that can be added for extra protection against natural death, death or disability by accident, and critical illnesses. With these riders, nominees can claim an extra sum assured amount on top of the assured death benefit. You can avail yourself a maximum of 3 of the following options:

How Does LIC New Jeevan Anand Policy Work?

Let us discuss the Jeevan Anand LIC policy details with an example of Mr Mathur, and understand the plan's working.

Mr Mathur, a 30-year-old individual, purchases a New Jeevan Anand policy from LIC. He wants to secure his family's financial future while also building a savings corpus. After thorough research, he chooses the following policy details:

  • Policy Term: 25 years - The policy term is the duration for which the policy will remain in force.

  • Sum Assured: Rs. 20 lakhs - The sum assured is the amount that will be paid to the nominee in the event of the policyholder's death.

  • Premium Payment Term: 20 years - The premium payment term is the period during which the policyholder needs to pay the premiums.

  • Premium Amount: Rs. 25,000 per year - The premium amount is the annual payment made by the policyholder to keep the policy active.

Now let's understand how the Jeevan Anand policy works:

  • Life Insurance Coverage: As long as Mr. Mathur pays the premiums regularly, he will have life insurance coverage for the entire policy term of 25 years. In the unfortunate event of his demise during the policy term, the nominee will receive the sum assured of Rs. 20 lakhs.

  • Maturity Benefit: If Mr Mathur survives the policy term of 25 years, he will be eligible to receive a maturity benefit. The maturity benefit consists of the sum assured plus any accumulated bonuses.

  • Bonus: LIC New Jeevan Anand is a participating policy, which means it participates in the profits of LIC. The policy earns bonuses based on the performance of the participating funds. These bonuses are declared by LIC on a yearly basis and accumulate over the policy term. The accumulated bonuses are paid out either on maturity or death.

  • Death Benefit: In case of the policyholder's demise, the nominee will receive the sum assured and any accumulated bonuses as the death benefit.

LIC New Jeevan Anand 915 - Additional Plan Details

  1. Grace Period

    In case the insurance holder delays the premium payment, he/she is allowed a grace period of 15 to 30 days. In case of non-payment of premiums during the grace period, the policy will lapse.

  2. Revival of Lapsed Policies

    If the insurance holder pays all of it within 5 years from the due date of the first unpaid premium, he/she can still revive the lapsed LIC New Jeevan Anand Plan. However, it has to be done before the maturity date.

  3. Free Look Period

    The policyholder gets a free cancellation period of 15 days during which he/she can cancel this plan if found unsuitable.

  4. Policy Termination or Surrender Benefit

    On completing two policy years, the policy gets charged with a surrender value and a paid-up value. This means that even if you stop paying premiums after 2 years, you still get some percentage of the benefits/premiums back. However, if you surrender the policy at any point after the chosen policy term ends, you won’t incur any losses.

Sample Premium Rates of LIC New Jeevan Anand 915 Plan

The below table illustrates the annual premium rates in Rs. for a basic sum assured of Rs. 1 Lac for standard lives under LIC New Jeevan Anand plan 915:

Age Policy Term
15 25 35
20 years 7747 4341 2935
30 years 8080 4581 3165
40 years 8644 5037 3636
50 years 9575 5846 -

The above premium rates are exclusive of taxes*

Exclusions of LIC New Jeevan Anand Plan 915

In case the policyholder commits suicide within 12 months of the policy inception, 80% of the premiums paid to date shall be returned to the nominee. In case of death after the plan renewal, a higher of 80% of the paid premium amount or the acquired surrender value shall be paid.

Required Documents for Buying LIC New Jeevan Anand 915

The documents required to be insured under LIC New Jeevan Anand (previously LIC plan no. 149) are:

  • Correctly filled Application form/Proposal form

  • Address Proof

  • Age Proof

  • Other KYC documents: PAN Card, Adhaar Card, Tax Details, etc.

  • Medical History

  • Medical Diagnosis Reports as required


  • Q: How much premium do I have to pay to get 50 lakhs from my LIC New Jeevan Anand policy?

    Ans: Here are the sample rates you can expect to pay based on the results offered by the LIC New Jeevan Anand plan 915 calculators.
    Sample Illustration
    Parameters LIC New Jeevan Anand
    Age 35 years
    Sum Assured Rs. 50,00,000
    Total Premium (monthly) Rs. 20,313
    Maturity After 25 years
  • Q: How is maturity calculated in LIC New Jeevan Anand (Plan-915)?

    Ans: In case the life insured survives the entire tenure of the policy then a basic sum assured amount along with the accrued bonus or simple reversionary bonus is paid to the insured as maturity benefit.
  • Q: I am an NRI. Can I avail LIC New Jeevan Anand Plan?

    Ans: Yes, you can avail New Jeevan Anand plan (previously known as LIC plan 149) by the Life Insurance Corporation of India, anytime you wish to. As per Indian laws, any Non-Resident of India is eligible to buy insurance plans from Indian Insurance Companies. This can be done after the submission of the required documents and the correctly filled registration form. After all the required verification is done by the LIC, a confirmation shall be sent to the buyer within 15 to 20 working days.
  • Q: Can the plan be forfeited by the company directly?

    Ans: Yes, the insurance plan is subject to forfeiture directly by LIC in case the company finds any information provided by the policyholder as misleading or deceiving. More information can be found under Section 45 of the Insurance Act, 1938.
  • Q: What are the basic requirements while making a death claim?

    Ans: To make a claim, the entitled nominee shall be required to present the claims form along with the original policy documents as issued by LIC in the name of the insured. Additionally, the nominee shall be required to submit all the details and documents applicable, such as bank account details, death certificate, medical treatment details before death, etc.
  • Q: What are the basic requirements while making a maturity or surrender claim?

    Ans: While making claims on maturity, the insurance holder is required to provide a filled discharge form attached with the original policy documents as issued by LIC in the name of the policyholder. Additionally, the policyholder has to provide NEFT mandate and bank account details for the transfer of the maturity benefit. The requirements are similar in both cases. However, surrendering a policy will require you to submit information on why you want to surrender it.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^Tax benefit are for Investments made up to Rs.2.5 L/ yr and are subject to change as per tax laws.
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:-

LIC of India
Need guidance? Ask here
LIC Calculator
  • One time
  • Monthly
/ Year
Sensex has given 10% return from 2010 - 2020
You invest
You get
View plans

LIC of India articles

Recent Articles
Popular Articles
Understanding LIC’s Claim Settlement Ratio

15 Nov 2023

Life Insurance Corporation of India is one of the largest and
Read more
LIC Insurance Advisor at Policybazaar: Your Partner in Securing Your Family's Future

20 Oct 2023

LIC Insurance Advisors at Policybazaar are IRDAI-certified
Read more
Benefits of LIC Policy

26 Sep 2023

Life Insurance Corporation of India offers financial security
Read more
How To Renew LIC Policy Online

19 Sep 2023

Renewing your LIC policy has become easier and more convenient
Read more
LIC Jeevan Tarang Calculator

18 Sep 2023

The LIC Jeevan Tarang Calculator is an online financial tool
Read more
LIC Online Premium Payment
The LIC Online Payment by Policybazaar enables policyholders to pay their insurance premiums online at their
Read more
Surrendering LIC Policy Before Maturity Time: Your Guide!
The Life Insurance Corporation of India is one of the most prominent insurance companies. It has an unparalleled
Read more
LIC Policy List
The LIC of India is known for offering a wide range of life insurance and investment products to cater to
Read more
LIC Jeevan Saral Maturity Calculator
LIC Jeevan Saral Maturity calculator is an online tool that helps potential customers calculate the premiums and
Read more
How to Fill The LIC Certificate of Existence?
LIC has come up with new and updated insurance products that address the varying needs of its customers. It has
Read more

  • Zero% commission
  • No hidden charges
  • Expert Advice
  • 100% calls recorded
Invest ₹10k/month Get ₹1Cr
Tax free on maturity*
Mobile +91
*T&C Applied.
Download the Policybazaar app
to manage all your insurance needs.