LIC Jeevan Anand Premium & Returns Calculator
Model LIC's signature participating endowment-cum-whole life plan under Plan 915. Calculate modal premiums, 125% sum assured death benefits, simple reversionary bonuses, FAB, and tax-free maturity payout with continuation of lifetime life cover.
Tax-Free Maturity Corpus
₹10,79,000
payout at age 51 (Year 21)
LIC Jeevan Anand Plan (Plan 915): Double Cover Mechanics
The **LIC Jeevan Anand Plan (Plan 915)** is widely regarded as one of India's most popular traditional participating life insurance policies. Guided by the iconic slogan *"Zindagi Ke Saath Bhi, Zindagi Ke Baad Bhi"* (With life, and even after life), Plan 915 uniquely merges the wealth accumulation of an **Endowment Policy** with the enduring protection of a **Whole Life Policy**. The policyholder receives a lump-sum maturity benefit at the end of the selected policy term, while the basic life cover remains active for the rest of their lifetime at absolutely zero premium.
Sum Assured Rebate Slabs: Premium Discount Mechanics
LIC rewards larger coverage commitments in Plan 915 by offering **High Sum Assured Rebates**. These rebates are directly subtracted from the annual base premium rate per ₹1,000 of Sum Assured, providing instant cost-savings:
| Basic Sum Assured Slab | Premium Rebate (per ₹1,000 SA) | Effective Benefit |
|---|---|---|
| ₹1,00,000 to ₹1,95,000 | ₹0.00 (Nil) | Standard premium rates apply |
| ₹2,00,000 to ₹4,95,000 | ₹1.50 Rebate per ₹1,000 SA | Immediate rate discount applied |
| ₹5,00,000 and Above | ₹2.00 Rebate per ₹1,000 SA | Maximum cost discount slab |
Plan 915 Wealth & Death Accumulation
As a participating policy, Jeevan Anand accrues returns based on bonuses declared by LIC annually out of corporate dividends:
Simple Reversionary Bonus (SRB)
Vests annually per ₹1,00,000 of Sum Assured and remains in the policy pool, accumulating to be paid out at the end of the term or upon death:
Annual Bonus = (Sum Assured × Declared SRB Rate) / 1000Final Additional Bonus (FAB)
A one-time terminal bonus paid upon policy maturity or death claim, provided the policy runs successfully for a minimum of 15 years:
FAB Amount = (Sum Assured × Declared FAB Rate) / 1000Sovereign Tax Shield: Sections 80C & 10(10D)
One of the premier highlights of Plan 915 is its sovereign tax-free status, secured under existing Income Tax regulations of India:
100% Tax-Free Maturity & Death Claims
Under **Section 10(10D)** of the Income Tax Act, the final maturity corpus—including basic Sum Assured, accumulated reversionary bonuses, and final additional bonuses—remains **100% tax-free**, provided the Sum Assured is at least 10 times the annual premium. All death benefits are also fully tax-exempt.
Annual Premium Deductions
All annual, half-yearly, quarterly, or monthly premium installments paid towards Plan 915 qualify for tax deductions under **Section 80C** of the Income Tax Act up to the maximum limit of ₹1.5 Lakhs.
Guaranteed Surrender Value & Policy Loans
Plan 915 provides flexible cash liquidity channels once equity accumulates over time:
- Guaranteed Surrender Value (GSV): You can voluntarily surrender the policy after paying premiums for **2 consecutive years**. Payout is calculated as a percentage of premiums paid plus the cash value of vested bonuses.
- Instant Policy Loan: You can secure a loan against the policy surrender value after completing 2 policy years, capped at **90% of the surrender value** (or 85% for paid-up policies). Interest rate is fixed at 9.5% p.a. compounded half-yearly.
Frequently Asked Questions (FAQs)
What makes Jeevan Anand unique compared to standard endowment plans?
What is the entry age and policy term limits for Plan 915?
How is the death benefit calculated during the active policy term?
Don't Just Take Our Word For It
See how our actuarial precision is helping thousands make smarter, faster insurance decisions every single day.
"Excellent calculator! It helped me understand the premium structure before meeting with an LIC agent. The estimates were quite close to the actual premium I was quoted. Very user-friendly interface."
"I used this calculator to compare different policy types. The breakdown helped me choose the right endowment plan for my family. Saved me a lot of time and confusion. Highly recommended!"
"Good tool for getting a quick estimate. The calculator is easy to use and provides clear results. However, I noticed the actual premium was slightly higher due to my medical history, which is expected."
"This calculator made my insurance planning so much easier! I could test different scenarios and find the best policy that fits my budget. The maturity amount calculation was particularly helpful."
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"Used this calculator before purchasing my LIC policy. The premium estimate was accurate, and it helped me plan my finances better. The design is modern and the tool is very intuitive to use."
"Excellent tool! I calculated premiums for multiple scenarios and found the perfect policy for my needs. The maturity amount projection helped me plan for my retirement. Thank you for this resource!"
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