LIC New Jeevan Anand Plan 715 – Complete Guide to Benefits, Premiums & Bonuses

If you are looking for a reliable life insurance plan that also offers savings and protection, LIC New Jeevan Anand Plan 715 could be the right choice. Launched by LIC, this plan is designed to provide financial security to your family while also giving you attractive returns. Let’s break it down in simple terms so you can understand its features, benefits, and how it works.

What You Need to Know About LIC New Jeevan Anand Plan 715

LIC New Jeevan Anand Plan 715 is a non-linked, with-profits endowment plan. This means it offers a combination of life coverage and savings. If the policyholder survives the policy term, they get the maturity amount, which includes the sum assured plus bonuses. In case of an untimely demise, the nominee receives the sum assured along with accrued bonuses.

For example, if you take a plan with a sum assured of ₹10 lakh for 20 years, your family will receive the same amount plus bonuses if something unfortunate happens during the term. If you survive the term, you get the sum assured plus bonuses at maturity, helping you meet long-term financial goals.

Key Features of LIC New Jeevan Anand Plan 715

• Eligibility: Age at entry 90 days to 55 years
• Policy Term: 15 to 35 years
• Premium Payment Term: 5 years less than the policy term
• Sum Assured: Minimum ₹2 lakh
• Bonus: Simple Reversionary Bonus and Final Additional Bonus
• Mode of Premium Payment: Yearly, half-yearly, quarterly, or monthly

These features make it suitable for individuals who want both protection and long-term savings. The flexible premium payment terms also allow you to plan your finances according to your budget.

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How LIC New Jeevan Anand Plan 715 Benefits You

1. Financial Security for Your Family: In case of your untimely demise, your family receives the sum assured plus bonuses.
2. Savings with Returns: The plan offers guaranteed bonuses and final additional bonuses, which help your savings grow steadily.
3. Loan Facility: You can take a loan against the policy after a few years, making it a versatile financial tool.
4. Tax Benefits: Premiums paid under this plan are eligible for deductions under Section 80C of the Income Tax Act. Maturity proceeds are also tax-free under Section 10(10D).

For instance, a policyholder paying ₹50,000 annually for 20 years can expect a substantial maturity benefit along with financial protection for the family during the policy term.

Who Should Consider LIC New Jeevan Anand Plan 715

This plan is ideal for:

• Working professionals who want a combination of life cover and savings
• Parents planning for children’s future education or marriage
• Individuals seeking long-term financial security with moderate risk
• First-time investors looking for safe, guaranteed returns with bonuses

It’s a great plan if you want to secure your family’s financial future while also building a corpus for long-term goals like buying a house, funding education, or retirement planning.

Common Mistakes With LIC New Jeevan Anand Plan 715 and How to Avoid Them

1. Choosing Too Low a Sum Assured: Ensure your sum assured is adequate to cover your family’s financial needs.
2. Skipping Premiums: Missing payments can reduce your benefits or lead to policy lapsing. Set reminders or opt for auto-debit.
3. Not Considering Policy Term: Choose a term that aligns with your financial goals, such as retirement or children’s milestones.
4. Ignoring Bonuses: Understand how reversionary and final additional bonuses impact the maturity amount to make realistic plans.

Being mindful of these factors can help you maximize the benefits of LIC New Jeevan Anand Plan 715.

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How to Buy LIC New Jeevan Anand Plan 715

Buying this plan is simple:

1. Visit the nearest LIC branch or check the official LIC website.
2. Fill out the proposal form with personal and financial details.
3. Choose your policy term, sum assured, and premium payment mode.
4. Submit KYC documents like Aadhaar, PAN, and proof of address.
5. Pay the first premium to activate your policy.

LIC agents can also guide you to select the best term and sum assured based on your needs.

Tips to Make the Most of LIC New Jeevan Anand Plan 715

• Opt for longer policy terms to increase maturity benefits.
• Pay premiums regularly to avoid lapsing.
• Review your policy every few years to ensure it aligns with your financial goals.
• Combine with other LIC or investment plans for diversified financial security.

These simple steps can help you get the maximum benefit from your LIC New Jeevan Anand Plan 715 policy.

Conclusion

LIC New Jeevan Anand Plan 715 is a comprehensive plan for financial security and savings. It provides life coverage, attractive bonuses, and tax benefits, making it an excellent choice for anyone looking to safeguard their family while building long-term wealth.

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If you are planning to invest in a safe, reliable life insurance policy, consider visiting your nearest LIC branch or exploring the LIC online portal to understand the exact premiums and benefits tailored to your needs. Share this guide with friends and family who are also planning their financial future.