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LIC New Jeevan Anand is a participating, non-linked individual savings life insurance plan. It combines life insurance protection with a maturity benefit. If the policyholder survives until the end of the selected policy term and the policy is in force, the basic sum assured on maturity is payable along with vested simple reversionary bonuses and a final additional bonus, if any. Bonus amounts are not guaranteed.
Maturity benefit with continued life cover after the policy term, subject to policy terms
New Jeevan Anand may suit people who want long-term savings alongside life insurance protection and are comfortable with a traditional participating policy. The plan provides a maturity benefit and, under its terms, a basic sum assured benefit if death occurs after the policy term. Returns should not be treated as fully guaranteed because bonuses depend on LIC declarations. Compare the premium commitment, policy term, surrender provisions and illustrated benefits before purchasing.
LIC
Key Insights
Founded
1956
LIC was established 70 years ago and has built strong credibility over time, backed by its long-standing presence in the market.
Claims Experience
98.5% CSR, calculated as a 3-year average
LIC settles 98.5% of all claims it receives, demonstrating strong credibility.
Contact Details
022-68276827
Headquarters: Jeevan Bima Marg, Nariman Point, P.O. Box No. 19953, Mumbai, Maharashtra 400021, India
If death occurs during the policy term while the policy is in force, the sum assured on death is payable along with vested simple reversionary bonuses and final additional bonus, if any.
Subject to the policy wording and applicable conditions.
The sum assured on death is the higher of 125% of basic sum assured or seven times the annualised premium. The applicable death benefit is also subject to the minimum benefit stated in the policy wording.
Check the policy document for the full definition and conditions.
On survival to the stipulated maturity date with the policy in force, the basic sum assured on maturity is payable along with vested simple reversionary bonuses and final additional bonus, if any.
Bonuses are not guaranteed.
The plan provides a basic sum assured benefit if death occurs after the policy term, according to the policy conditions.
Read the policy wording for the exact post-maturity benefit.
The policy participates in LIC profits and may receive simple reversionary bonuses and a final additional bonus, if declared and applicable.
Bonus declarations and amounts are not guaranteed.
Optional rider for additional benefits related to accidental death and disability, subject to rider eligibility and terms.
UIN 512B209V02; optional and subject to availability.
Optional accident benefit rider, subject to its conditions and eligibility requirements.
UIN 512B203V03; optional and subject to availability.
Conditions or treatments that the policy clearly says it will not cover.
Insurer
LIC plans and claim process
It is a participating, non-linked individual savings life insurance plan that combines life cover with a maturity benefit.
The current plan variant listed by LIC is Plan 715 with UIN 512N279V03.
The minimum entry age is 18 years completed.
Disclaimer: Premium amounts are indicative and may vary based on age, health, and plan selected. Claim settlement ratios are from IRDAI Annual Reports. Finzony is not an insurance broker or agent. Verify all details on the official LIC website before purchasing.
Official Website
licindia.in
Visit the official LIC website for plan brochures, premium quotes and policy services.
The aforementioned ratios have been averaged over three years (FY24-FY26)
Optional term assurance rider for additional life cover, subject to its conditions and eligibility requirements.
UIN 512B210V02; optional and subject to availability.
The maximum entry age is 50 years, calculated at the nearer birthday.
The policy term can be selected from 15 to 35 years, subject to the plan rules.
The minimum basic sum assured is ₹2 lakh. The official brochure states no maximum basic sum assured.
The basic sum assured on maturity is payable if the policyholder survives to the maturity date and the policy is in force, along with vested bonuses and a final additional bonus, if any.
No. Bonuses depend on LIC declarations and should not be treated as guaranteed returns.
During the policy term, the death benefit is based on the sum assured on death plus applicable vested bonuses and final additional bonus, if any. The policy document defines the calculation and minimum benefit.
The plan provides a basic sum assured benefit if death occurs after the policy term, subject to the policy wording.
A policy loan may be available once the policy satisfies LIC’s applicable surrender-value and loan conditions.
Eligible optional riders may be available, including the Accident Benefit Rider, Accidental Death and Disability Benefit Rider and New Term Assurance Rider, subject to their terms and availability.
No. It is not a standalone health insurance policy and does not provide standard hospitalisation expense coverage.
The premium depends on age, basic sum assured, policy term, premium payment mode and applicable underwriting factors. Use LIC’s official quotation or benefit illustration for the actual amount.