Calculate premium & maturity for LIC's New Jeevan Anand (UIN: 512N279V03) — a Par, Non-Linked, Life, Individual Savings Plan with lifelong insurance cover.
Unlike regular endowment plans, LIC New Jeevan Anand provides life insurance cover throughout your entire lifetime — even after you receive the maturity payout. Your family receives the Basic Sum Assured whenever you pass away, whether that's during or after the policy term. Premiums are fully exempt from GST effective 22 September 2025.
| Year | Cumulative Premium | Cumulative Bonus | Death Benefit (during term) | Maturity Value | Death Benefit (after term) |
|---|
LIC's New Jeevan Anand (UIN: 512N279V03) is a Par, Non-Linked, Life, Individual Savings Plan that offers a unique combination not found in ordinary endowment plans — it gives you a lump-sum payout when the policy matures, while simultaneously keeping your family protected for your entire lifetime. This means even after you collect your maturity amount, your nominee will receive the Basic Sum Assured when you eventually pass away. From 22 September 2025, all premiums are fully exempt from GST.
Life cover continues beyond the policy term — your nominee receives BSA on your death, even decades after maturity.
Receive BSA + all vested bonuses + FAB at the end of the selected term. No need to wait till death.
Earns Simple Reversionary Bonus annually and Final Additional Bonus at maturity or death claim.
Yearly (2% rebate), half-yearly (1% rebate), quarterly, or monthly via NACH bank mandate.
₹2.50 per ₹1,000 for BSA ₹5L–₹10L and ₹4.00 per ₹1,000 for BSA ₹10L+. NIL for BSA below ₹5L.
GST on all individual life insurance premiums is now 0% — you pay only the net base premium.
Accidental Death & Disability, Accident Benefit, and New Term Assurance riders available.
Borrow up to 75% of surrender value after 2 years of premium payments for liquidity needs.
If the life assured dies before the maturity date, the nominee receives the Sum Assured on Death — defined as the higher of 125% of Basic Sum Assured or 7 times the annualised premium — plus all vested Simple Reversionary Bonuses and Final Additional Bonus. This total can never be less than 105% of all premiums paid to date.
Note: "125% of BSA" is unique to Jeevan Anand. The New Endowment Plan uses just BSA or 7× premium. This gives better protection for lower-premium policies.
On surviving to the maturity date, the policyholder receives the Basic Sum Assured plus all vested Simple Reversionary Bonuses and Final Additional Bonus (if declared). This is the same as a standard endowment plan.
This is what makes Jeevan Anand exceptional. Even after the maturity payout has been collected, the life cover continues for the rest of the policyholder's life. On death after the policy term, the Basic Sum Assured is payable to the nominee. No further premium is charged for this lifelong cover — it is a built-in benefit of the plan.
| Feature | New Jeevan Anand | New Endowment Plan |
|---|---|---|
| Minimum Entry Age | 18 years | 8 years |
| Minimum Policy Term | 15 years | 12 years |
| Sum Assured on Death (during term) | Higher of 125% BSA or 7× premium | Higher of BSA or 7× premium |
| Life Cover after Maturity | ✓ Yes — BSA paid on death anytime | ✗ No — cover ends at maturity |
| HSA Rebate starts from | ₹5,00,000 | ₹5,00,000 |
| Premium (approx.) | Slightly higher (lifelong cover) | Lower (cover ends at maturity) |
| Age | 15-Year Term | 25-Year Term | 35-Year Term |
|---|---|---|---|
| 20 years | ₹16,229 | ₹9,339 | ₹6,517 |
| 30 years | ₹16,885 | ₹9,810 | ₹6,968 |
| 40 years | ₹18,012 | ₹10,711 | ₹7,918 |
| 50 years | ₹19,914 | ₹12,397 | N/A |
Source: LIC official brochure (2024). Premiums exclude rider premiums. No GST applicable from Sept 2025. Age 50 + term 35 = 85 years exceeds maximum maturity age of 75.
Effective 22 September 2025, under GST Reforms 2.0, all individual life insurance premiums are fully exempt from GST. This includes LIC New Jeevan Anand for all payment modes. You pay only the net base premium — nothing extra. LIC has confirmed the full benefit has been passed on to customers.
Surrender allowed after 1 year. Guaranteed Surrender Value (GSV) applies after 2 full years. Surrender value = higher of GSV or Special Surrender Value (SSV). No surrender value on riders.
Loan available after 1 year. Maximum 75% of surrender value for in-force policies (after 2 full years) or 65% for paid-up policies. Loan interest for 2024–25: 9.5% p.a. compounding half-yearly.
Lapsed policies can be revived within 5 years from the first unpaid premium date by paying all arrears with interest at 9.5% p.a. compounding half-yearly (for 2024–25).
A participating, non-linked savings-cum-protection plan from LIC. At maturity the policyholder receives BSA plus bonuses, while life cover continues for the rest of their life. The nominee receives the Basic Sum Assured on death at any time — even decades after maturity.
Yes. After collecting the full maturity benefit (BSA + bonuses), the Basic Sum Assured remains as a lifelong death benefit. No additional premium is charged for this continued protection — it is a built-in feature of the plan.
During the term, the nominee receives the Sum Assured on Death (higher of 125% BSA or 7× annual premium) plus vested bonuses and FAB, subject to a floor of 105% of premiums paid. After maturity, the death benefit simplifies to just the Basic Sum Assured with no bonuses.
Jeevan Anand defines the Sum Assured on Death as the higher of 125% of BSA or 7× annualised premium. This 125% floor ensures the death benefit is always at least 25% more than the BSA. The New Endowment Plan uses only 100% BSA as the floor, not 125%.
No. Effective 22 September 2025 under GST Reforms 2.0, all individual life insurance premiums are fully exempt from GST. You pay only the net base premium with no additional tax. LIC has confirmed the full benefit has been passed to customers.
Minimum entry age is 18 years (completed), maximum is 50 years (nearer birthday), and maximum maturity age is 75 years. A 50-year-old can therefore opt for a maximum 25-year term.
BSA ₹5L–₹9.99L: ₹2.50 per ₹1,000 BSA. BSA ₹10L and above: ₹4.00 per ₹1,000 BSA. No rebate for BSA below ₹5L. The calculator applies these rebates automatically based on your selected BSA.
SRB is declared annually as ₹X per ₹1,000 BSA and becomes a guaranteed addition once vested. FAB is a one-time bonus paid at maturity or death during the term. This calculator uses ₹46 SRB and ₹710 FAB (conservative) or ₹58 SRB and ₹1,330 FAB (optimistic) per ₹1,000 BSA.
Choose Jeevan Anand if you want lifelong protection for dependents even after collecting maturity. Choose New Endowment Plan if you primarily want savings with cover only during the term and prefer slightly lower premiums. Jeevan Anand suits family breadwinners; New Endowment suits goal-based savings.
Yes. After 2 full years of premiums, loans up to 75% of surrender value are available for in-force policies (65% for paid-up). Interest is 9.5% p.a. compounding half-yearly for 2024–25. Outstanding loan and interest are recovered from claim proceeds at exit.
Premiums qualify for Section 80C deduction (up to ₹1.5L per year). Maturity proceeds are tax-free under Section 10(10D) if the annual premium does not exceed 10% of BSA. With GST now 0%, the full premium qualifies for 80C deduction.
Stopping before 1 full year causes all benefits to lapse after the grace period. After at least 1 full year the policy converts to paid-up with reduced benefits. The lifelong cover also continues on a reduced paid-up basis. A lapsed policy can be revived within 5 years by paying arrears with interest.
Yes. The life assured can opt for death benefit payment to the nominee in instalments over 5, 10, or 15 years. Maturity benefit can also be received in instalments via the Settlement Option (3 months notice required). Minimum instalments are ₹5,000/month, ₹15,000/quarter, ₹25,000/half-year, ₹50,000/year.
This calculator uses LIC's officially published sample premiums, mode rebates, and high-SA rebates from the 2024 brochure. The 125% BSA death benefit floor is correctly applied. GST is shown as ₹0. Bonus projections are illustrative per IRDAI regulations. Actual premiums may vary due to age rounding. Verify with a licensed LIC agent for a precise quote.
