LIC Jeevan Anand Plan 715 — One Plan, Two Benefits?
LIC’s Jeevan Anand Plan 715 is one of the most asked-about plans among people who want savings and protection in a single policy. Its promise is simple: on completion of the policy term you get the maturity amount, and even after that, life cover continues for life.
But is this plan really right for you? In this guide: what Jeevan Anand 715 is, eligibility, how the premium is decided, maturity and death benefit rules, its pros and cons, and an honest comparison — so you decide on facts, not on an agent’s pitch.
First and most important: Jeevan Anand is LIC’s own plan — it is NOT a government scheme. Government-scheme rules do not apply to it.
Quick Facts
- Plan: LIC New Jeevan Anand Plan 715
- UIN: 512N279V03
- Type: Participating, Non-Linked, Whole-Life Endowment Plan
- Entry age: 18–50 years
- Policy term: 15–35 years
- Maximum maturity age: 75 years
- Minimum Basic Sum Assured: ₹2,00,000
- Death benefit (during term): Higher of 125% of Basic Sum Assured or 7× annualised premium, plus declared bonuses if applicable
- Maturity benefit: Basic Sum Assured + declared bonuses (if applicable)
- Death benefit (after maturity): Basic Sum Assured remains payable
- Bonuses: Future bonuses are NOT guaranteed
What is Jeevan Anand 715?
Jeevan Anand is a whole-life endowment plan. Endowment means: on completion of the term you get a maturity amount. Whole-life means: even after maturity, the insurance cover continues for life.
In simple words: you pay premiums for 15 to 35 years. On completion of the term you get Basic Sum Assured + declared bonuses. And after that too, on your death, your family gets the Basic Sum Assured — no matter how many years after maturity the death occurs.
That is why it is called “Jeevan Anand” — the joy of maturity while alive, and the family’s security after you are gone.
Eligibility — Who Can Take It?
- Entry age must be between 18 and 50 years.
- Policy term can be chosen between 15 and 35 years.
- Age at maturity must not exceed 75 years.
- Minimum Basic Sum Assured is ₹2,00,000.
- Medical check-up requirement depends on your age, Sum Assured and health declaration — as per LIC rules.
Example: if you are 30, you can choose a 35-year term (maturity age 65). If you are 50, the maximum term you can choose is 25 years (maturity age 75).
How is the Premium Decided?
The Jeevan Anand 715 premium is different for every person. It depends on:
- Your entry age
- The policy term you choose
- The Basic Sum Assured amount
- The premium payment mode (yearly, half-yearly, quarterly or monthly)
For the exact premium, check the premium calculator on LIC’s official website or ask for the policy document at an LIC branch. Trust an agent’s quoted premium only after matching it with the policy document. This article deliberately gives no estimated premium table, because a wrong table can lead to a wrong decision.
What Do You Get on Maturity?
On completion of the term you get: Basic Sum Assured + Vested Bonus + Final Additional Bonus (if declared).
- Vested Bonus is the bonus declared every year that keeps accumulating in the policy.
- Final Additional Bonus may be declared at the end of the policy — it is not always paid.
- Important truth: future bonuses are NOT guaranteed. Past bonuses can give an idea of future bonuses, but treating them as guaranteed would be wrong.
- Tax rules may apply to the maturity amount — check your position as per current tax rules.
Death Benefit — Two Situations
On death during the term: higher of 125% of Basic Sum Assured or 7× annualised premium, plus Vested Bonus and Final Additional Bonus if applicable. This amount will not be less than 105% of total premiums paid.
On death after maturity: the family gets the Basic Sum Assured.
This is the plan’s biggest feature — the cover does not end even after taking maturity.
Benefits of Jeevan Anand 715
- Maturity + lifelong cover, in a single plan.
- Even after maturity, the family keeps the Basic Sum Assured protection.
- A plan from LIC, a government-owned institution — a trusted name.
- With bonuses, the maturity amount can exceed the Sum Assured.
- Loan facility: a loan may be available against the policy as per LIC rules.
Drawbacks — The Honest Side
- Returns are usually slightly above FD and below the stock market. If your only goal is higher returns, this plan is not built for that.
- Bonuses are not guaranteed — the maturity amount is not fixed in advance.
- It is a long-term commitment — exiting midway can cause losses.
- Considering inflation, the real value of money falls over a long period.
- This plan is not “the best” — it is good for a specific need.
Jeevan Anand vs Term Insurance + SIP — Honest Comparison
If your need is only family protection, term insurance usually gives much higher cover at a much lower premium. Investing the saved money in a SIP can give higher long-term returns — but with market risk.
Jeevan Anand makes sense when you want: guaranteed Sum Assured + bonus-linked maturity + lifelong cover — all three in one place — and you want to stay away from market ups and downs.
Neither is Jeevan Anand bad for everyone, nor the best for everyone. The decision depends on your need, budget and risk-taking capacity. This article is not financial advice — speak to a trusted financial adviser before a big decision.
Who Should Take It, Who Should Not?
Consider taking it if: you want maturity + lifelong cover, you can pay premiums for a long period, and you want a safe, low-risk option.
Do not take it if: you only want higher returns, your need is only protection (then look at term insurance), or paying premiums for a long period will be difficult.
How to Take Jeevan Anand 715?
- Visit an LIC branch or check LIC’s official website.
- Do read the Policy Document — especially the death benefit, bonus and surrender rules.
- Choose premium, term and Sum Assured as per your need.
- Do not decide under an agent’s pressure. There is a free-look period in the policy — read the document carefully after receiving it.
Frequently Asked Questions
- What is LIC Jeevan Anand 715? It is LIC’s whole-life endowment plan — you get maturity money and life cover continues even after that.
- What is the entry age for Jeevan Anand 715? 18 to 50 years. Policy term 15 to 35 years, and maximum maturity age 75 years.
- What is the minimum Sum Assured in Jeevan Anand 715? ₹2,00,000.
- What do you get on maturity? Basic Sum Assured + Vested Bonus + Final Additional Bonus (if declared).
- What does the family get on death after maturity? The Basic Sum Assured — the cover continues for life.
- Are bonuses guaranteed? No. Future bonuses are not guaranteed — they are declared by LIC.
- Is Jeevan Anand a government scheme? No. It is LIC’s own plan, not a government scheme.
- Is this plan right for me? It depends on your need, budget and risk capacity. This article is not financial advice — speak to a trusted financial adviser before deciding.
Disclaimer: This article is not financial advice. GramSuvidha is a private information portal, not a government website.
