LIC JEEVAN ANAND (Table No. 815)

LIC’s new Jeevan Anand is a double benefit plan that provides life cover along with savings. It allows a policy holder to enjoy good return value on his/her savings while enjoying an effective life cover. Hence, it is a great plan for attaining long term financial independence. LIC has re-launched Table 149 as new Jeevan Anand Table 815 with new branded features and more customer friendly approach.


Jeevan Anand provides a number of benefits both on plan maturity and also in the case of unexpected demise.

Maturity Benefits

If the policy holder completes the full duration of the plan then he/she is rewarded with an array of maturity benefits that are designed by financial experts to suit the changing economic needs of the culmination period. The maturity benefits differ according to the selected plan and chiefly consist of Basic Amount Guaranteed along with consigned Simple Reversionary Pluses and any Final Added Plus.

Death Benefits

In the instant of an unexpected demise the beneficiary would be awarded a solitary lump amount that is termed as death benefit. The death benefit falls under two categories.

The basic death benefits includes:

On Demise during the Policy Duration: If the life assured suffers an early demise then the beneficiary would receive a death benefit which would contain “Amount Guaranteed on Death” along with consigned Simple Reversionary Plus. The beneficiary may also be eligible to receive any Final Added plus, along with the Amount Guaranteed on Death.  Here “Amount Guaranteed on Death” would be greater than 125% of Basic Amount Guaranteed or equivalent to 10 times of annualised premium. In any case it would be higher than 105 percentages of entire paid up premiums as per demise date.

On demise of policyholder at any time after policy tenure: If the policy holder undergoes an untimely demise after the conclusion of the plan tenure then the beneficiary would receive the Basic Amount Guaranteed.

Jeevan Anand Bonus

The LIC of India provides bonus as a part of corporation business profit. In this plan, LIC offers simple reversionary and final bonus. Simple reversionary bonus is given as per Corporation experience, if policy is in force.

Policy Loan:

The new Jeevan Anand holder can avail the facility of loan against the plan after the policy has attained a specific surrender amount. This loan policy is subjected under the company’s terms and might change over time.

Income Tax Benefits

The Jeevan Anand provides an annual income tax benefit on premium amounts paid up to 1 lakh INR beneath section 80C of tax rules. Moreover, the Maturity Benefit is tax free under the 10(10)D clause of tax rules.

Surrender Value

The policy holder has the facility to surrender his plan after a specific period of time (and before the completion of the plan tenure) in return for a specified monetary value. To avail this facility the policy holder would have to pay a regular premium for at least 3 years.


For Basic plan:

Payment of Premiums

The company provides convenient options of premium payments. The policy holder could pay his/her premiums on a twelve-monthly basis, six monthly basis, trimestral basis or on a monthly basis (with the methods of ECS or through wages deductions) over the Policy Tenure.


The LIC Table 815 policy is subjected to lapse if the premiums are not paid in a timely manner. However, the company provides a facility of revival so that the policy holders could once again benefit from this double benefit plan. The life assured could revive the policy within a 24 month period from the date of the first unpaid premium. However, he/she would have to pay all the interim premiums along with interest rates that are liable to change conferring to company’s revised terms and conditions. 

Optional Benefits

Under the Table 815 plan, the policy holder is provided an elective benefit called Accidental Death and Disability Benefit Rider. For a little extra premium the policy holder could get added protection against accidental demise and permanent disability.

Benefit in the Instance of Accidental Demise: If during the tenure of an active policy, the life assured experiences accidental demise then the beneficiary would receive Accident Benefit Amount Guaranteed as one lump figure in addition to death benefit under rudimentary plan.
Benefit in the Instance of Permanent Disability: Permanent disability arising due to an accident makes the policy holder eligible to receive an Accident Benefit amount guaranteed payable in equivalent monthly payments for a duration of 10 years. Besides, the upcoming payments for Accident Benefit Amount Guaranteed along with premiums for the share of Basic Amount Guaranteed that is equivalent to Accident Benefit Amount Guaranteed under the plan would be renounced. The policy holder could only avail this facility if he/she is able to put a claim on his/her disability within 180 day duration from the accidental date.