LIC of India: Life Insurance Corporation of India's New Jeevan Anand Plan is one of the most-sold endowment plans from the insurer. This LIC policy is a participating non-linked life insurance policy that offers double benefit of protection and savings. Popularly known as LIC New Jeevan Anand plan 815, this LIC policy offers financial protection in case of death of the insured and also provides a lump sum amount in case of survival at the end of the term policy. In this LIC policy, an investor can start investing from 18 years to 50 years and the maturity period of this LIC of India plan is from 15 to 35 years.

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LIC New Jeevan Anand Plan 815 details

Speaking on LIC New Jeevan Anand Plan 815 details, SEBI registered tax and investment expert Jitendra Solanki said, "As the name suggests, this LIC of India policy whole life endowment plan continues to provide coverage till death of the insured even after the maturity of this LIC New Jeevan Anand plan. It is also known as Double Death Benefit Plan because it guarantees developed advantages if the insured person survives till the end of the maturity date. This offers high reward rate, normal premium and even phenomenal liquidity feature." Solanki said that the LIC policy qualifies for Maturity benefit, which will be paid at the end of policy term considering all the premiums have been paid in full. Sum assured along with reversionary bonus and final additional bonus will be paid as maturity benefit.

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LIC New Jeevan Anand Plan maturity calculator

Speaking on the LIC New Jeevan Anand Plan 815 calculator Solanki said, "If a person starts investing in this LIC policy at the age of 18, then he or she can easily continue investing in the plan for 35 years. If the sum assured is Rs 5 lakh, then annual premium for the investor would be Rs 3,141 means around Rs 262 (Rs 262.75) per month. Adding sum assured, bonus and additional bonus, the maturity amount after 35 yeas is around Rs 30,07,500 (Rs 5,00,000 + Rs 25,07,500) where Bonus and additional bonus would constitute Rs 25,07,500.

So, going by this LIC of India policy, if a person starts investing in this LIC policy, one's Rs 3,141 per annum or Rs 262 (Rs 262.75) per month would grow up to Rs 30.07 lakh after 35 years of maturity period.