LIC New Jeevan Anand (Plan 715) Life Cover Even After Maturity

LIC's most popular plan — get maturity money AND life cover continues for life. No extra premium.

✍️ By Team Lic Calculator 🔍 Reviewed by Haresh Hirapara (20+ yrs in Insurance) 📅 Updated: August 2026 ✅ Expert Verified
📌 Quick Answer

Jeevan Anand is an endowment plan with a unique bonus feature: at maturity you receive SA + Bonus + FAB, and then life cover continues for the full SA amount for the rest of your life — no more premiums needed. Entry age: 18-50, terms: 15-35 years. Bonus: approximately ₹50 per ₹1,000 SA/year.

📋 Table of Contents
  1. The Unique Feature — Life Cover After Maturity
  2. Key Features & Eligibility
  3. Benefits — Maturity, Death & Post-Maturity
  4. Premium Rate Table
  5. Worked Example — ₹10L SA, Age 30, 20 Years
  6. Who Should & Should Not Buy
  7. Frequently Asked Questions

The Unique Feature — Life Cover After Maturity

⭐ What Makes Jeevan Anand Special?
💰
At Maturity
Receive SA + Bonus + FAB
Full lump sum paid to you
+
🛡️
After Maturity
Life cover for full SA continues
No more premiums needed!

Example: ₹10L SA → Receive ~₹20L at maturity → Family still covered for ₹10L for life

Key Features & Eligibility

Plan Number715 — New Jeevan Anand
TypeEndowment + Whole Life Cover
Entry Age18 to 50 years
Max Maturity Age75 years
Policy Terms15, 16, 17, 18, 19, 20, 21, 25, 30, 35 years
PPTSame as policy term
Min Sum Assured₹1,00,000
Bonus Rate~₹50 per ₹1,000 SA per year
⭐ Post-Maturity Cover✅ Yes — SA amount for life
Tax BenefitsSection 80C + 10(10D)

Benefits — Three Scenarios

💰 On Survival (Maturity)

SA + Bonus + FAB paid as lump sum. Life cover of SA continues after maturity for the rest of your life — no more premiums needed.

🛡️ Death During Policy Term

Higher of (10 × Annual Premium) or (1.25 × SA) + all accrued bonuses. Minimum guaranteed: 1.25× SA + bonus.

⭐ Death AFTER Maturity (Unique!)

Nominee receives basic Sum Assured (without bonus). This is FREE — you've already received the maturity. Example: ₹10L SA → family gets ₹10L again whenever death occurs.

Approximate Premium Rates (per ₹1,000 SA)

Age15 Yr20 Yr25 Yr30 Yr35 Yr
20₹71.00₹59.50₹52.00₹47.50₹45.00
25₹72.00₹61.00₹53.00₹48.50₹46.00
30₹73.50₹63.00₹55.00₹50.50₹48.00
35₹76.00₹65.00₹58.00₹53.50—
40₹80.00₹69.50₹63.00₹58.00—
45₹86.00₹76.00₹69.00——

*Approximate rates per ₹1,000 SA (yearly, before GST/rebates). Premium is ~8-10% higher than Plan 714 due to the lifelong cover feature. "—" = term unavailable at that age. These are approximate rates.

Worked Example — ₹10L SA, Age 30, Term 20

Sum Assured₹10,00,000
Entry Age / Term30 years / 20 years
Rate per ₹1,000~₹63
Annual Premium (approx.)₹63 × 1000 = ~₹63,000 + GST
Total Premium (20 yrs)~₹12,60,000
💰 Approximate Maturity Calculation:
Sum Assured₹10,00,000
Bonus (₹50 × 1000 × 20 yrs)~₹10,00,000
FAB (approximate)~₹44,000
MATURITY RECEIVED~₹20,44,000
⭐ PLUS: Life cover of ₹10,00,000 continues after maturity — nominee receives this on death, no more premiums needed. Total family benefit = ~₹30.4L over lifetime.

*Approximate estimates. Bonus at ₹50/1000/yr. FAB approximate for 20-year term. Actual amounts depend on LIC's declared rates.

Who Should & Should Not Buy

✅ Ideal For
  • Want lifelong cover — cover continues after maturity
  • Family breadwinners — extra protection at no cost
  • Want savings + insurance — guaranteed maturity
  • Can pay slightly higher premium than Plan 714
  • Long-term planning — 20-35 year commitment
❌ Not Ideal For
  • Budget-conscious — Plan 714 is ~10% cheaper
  • Want limited PPT — choose Jeevan Labh (736)
  • Want periodic payouts — choose Money Back plans
  • Want high returns — consider PPF or mutual funds
  • Already have term insurance — may not need extra cover

💡 Expert Tip (Haresh Hirapara): Jeevan Anand is my most recommended LIC plan for family men. The post-maturity life cover is a game-changer — you get your money back at maturity, and your family stays protected for life. I recommend Term 20-25, SA ₹10-15L for most salaried individuals. The slightly higher premium over Plan 714 is absolutely worth it for the lifelong cover. If you're buying your first LIC policy, this should be your top choice. Consult a financial advisor for the right SA and term for your family's needs.

🧮 Calculate Jeevan Anand Premium →

Frequently Asked Questions

What is LIC New Jeevan Anand?+
An endowment plan where life cover continues after maturity for the full SA — without paying any more premiums. Entry age 18-50, terms 15-35, min SA ₹1L. LIC's most popular plan.
Does life cover continue after maturity?+
Yes! You receive the full maturity (SA + Bonus + FAB), and then life cover of the basic SA continues for life. If you die after maturity, nominee gets the SA again. No other standard endowment plan offers this.
What is the maturity benefit?+
SA + Bonus + FAB. For ₹10L SA, 20 years: approximately ₹20-21L maturity. Bonus approximately ₹50/1000/yr. Plus life cover continues. Use our calculator. These are approximate estimates.
What is the premium for ₹10L SA?+
For ₹10L SA, Term 20, Age 30: approximately ₹63,000/year + GST. ~8-10% higher than Plan 714 due to lifelong cover. Use our calculator for exact estimate. These are approximate rates.
Is it better than New Endowment Plan?+
Jeevan Anand gives lifelong cover after maturity — Endowment doesn't. Premium is ~10% higher. Choose Anand for extra cover, Endowment for lower cost. See our detailed comparison. Consult a financial advisor.
What is the death benefit?+
During term: Higher of (10 × AP) or (1.25 × SA) + bonus. After maturity: Basic SA (without bonus). For ₹10L SA: death during term = ₹12.5L + bonus; after maturity = ₹10L.
⚠️ Disclaimer

This article is for educational and informational purposes only. LIC-Calculator.com is not affiliated with LIC of India. Premium rates, bonus rates, and maturity amounts are approximate estimates based on publicly available information. Actual premiums and maturity depend on LIC's declared rates. For official information, visit licindia.in.

This is not financial advice. Please consult a certified financial advisor before purchasing any insurance policy.

📚 Related Resources