The document compares LIC's existing Jeevan Anand Plan No. 149 to the new Jeevan Anand Plan No. 815. Key differences include a reduced maximum entry age, shorter policy terms, modified death benefit definition, changes to loan and surrender value terms, and revival period reduced from 5 to 2 years. The accident benefit is now offered as a rider instead of being inbuilt. Taxes will now apply and be borne by the policyholder.

1. LIC’s NEW JEEVAN ANAND PLAN
Plan No. 815

2. Jeevan Anand
Plan No. 149
New Jeevan Anand
Plan No. 815
Maturity Benefit Maturity Benefit
Basic Sum Assured along with
Vested Simple Reversionary Bonuses and
Final Additional Bonus, if Any.
Basic Sum Assured along with
Vested Simple Reversionary Bonuses and
Final Additional Bonus, if Any
Death Benefit Death Benefit
During the policy term
Basic Sum Assured(BSA) along with
Vested Simple Reversionary Bonuses
and
Final Additional Bonus, if any.
After expiry of policy term
Basic Sum Assured
During the policy term
‘Sum Assured on Death’ along with
Vested Simple Reversionary Bonuses
and
Final Additional Bonus, if any.
After expiry of policy term
Basic Sum Assured
Modification-
‘Sum Assured
on Death'
instead of BSA
LIC’s New Jeevan Anand Plan– Benefits

3. What is Sum Assured on Death?
Sum Assured on Death shall be Higher of ~
125% of Basic Sum Assured (1.25 x BSA)
OR
10 times Annual Premium.(10 x AP).
≈≈≈≈
The death benefit as defined above shall not be less than 105% of
total premiums* paid as on the date of death .
[*excluding taxes, extra premiums and premiums for riders, if any]
LIC’s New Jeevan Anand Plan– Benefits

4. Particulars
Jeevan Anand
Plan No. 149
New Jeevan Anand
Plan No. 815
Age at entry 18 to 65 years 18 to 50 years
Age at
Maturity
Maximum 75 years Maximum 75 Years
Policy Term 5 to 57 years 15 to 35 years
Premium mode
Yearly, Half-yearly,
Quarterly, Monthly (SSS or
ECS)
Yearly, Half-yearly,
Quarterly, Monthly (SSS or
ECS)
Basic Sum
Assured
100000 and above
100000 and above
( In multiples of 5000)
Maximu
m Age at
entry
reduced.
Policy
term
modified
LIC’s New Jeevan Anand Plan–
Eligibility Conditions and Restrictions

5. Mode
Rebate
Plan 149 Plan No. 815
Yearly 3% of tabular Premium 2% of tabular premium
Half-yearly 1.5% of tabular premium 1% of tabular premium
Quarterly Nil Nil
Plan No 149
Jeevan Anand
Plan No. 815
New Jeevan Anand
Basic Sum Assured Rebate (Rs.) Basic Sum Assured Rebate (Rs.)
10,00,000 and above 1.75‰ BSA 10,00,000 and above 3.00‰ BSA
5,00,000 to 9,95,000 1.50‰ BSA 5,00,000 to 9,95,000 2.50‰ BSA
3,00,000 to 4,95,000 1.00‰ BSA 2,00,000 to 4,95,000 1.50‰
1,00,000 to 2,95,000 Nil 1,00,000 to 1,95,000 Nil
Slab & Rate
modified
Rate
modified
LIC’s New Jeevan Anand Plan– Rebates

6. Jeevan Anand
Plan No. 149
New Jeevan Anand
Plan No.815
Available after payment of 3 full years
premiums.
Available after payment of 3 full years
premiums.
Loan granted shall be 90% of the Surrender
Value in case of inforce policies and 85% of
the Surrender Value in case of Paid-up
policies irrespective of the policy term.
The maximum amount of loan that can be
granted as a percentage of Surrender
Value shall depend on the Policy Term, as
given in the table below.
Foreclosure action was initiated on default
of 2 or more half-yearly loan interest
installments.
Foreclosure action shall not be taken under
fully paid-up and inforce policies even if
there is a default of loan interest.
Policy Term Upto 23 24 to 27 28 to 31 32 to 35
% for inforce policies 90% 80% 70% 60%
% for Paid-up policies 80% 70% 60% 50%
% of loan
modified
LIC’s New Jeevan Anand Plan– Loan

7. Plan No.149 Plan No. 815
Guaranteed Surrender Value (GSV) Guaranteed Surrender Value (GSV)
Available after payment of 3 full years
premiums.
Available after payment of 3 full years
premiums.
GSV shall be equal to 30% of the total
premiums paid less First Year Premium and
extra premium, if any.
GSV shall be a percentage of total
premiums paid (net of taxes) excluding
extra premium, if any and premium paid for
riders,if opted for.
Examples of GSV factors applicable for
total premiums paid
Policy Year ~ GSV factor
3 = 30%
5 = 50%
t -1 = 80% (t=Policy Term)
Cash Value of vested bonuses, if any. GSV factor applicable to vested bonus,if
any. Examples of Vested bonus factors –
Year of SV – Policy Term – Factor
3 15 17.66%
19 25 20.85%
29 30 30%
GSV %
modified
Bonus
Payable
modified
No
Change
LIC’s New Jeevan Anand Plan– Surrender Value

8. Jeevan Anand
Plan No. 149
New Jeevan Ananad
Plan 815
Special Surrender Value (SSV) Special Surrender Value (SSV)
Surrender Value shall be the discounted
value of the Paid-up Sum Assured and
vested simple reversionary bonuses.
Surrender Value shall be the discounted
value of the Paid-up Sum Assured and
vested simple reversionary bonuses.
The discount factors shall be surrender
value factors as provided in Table-1A and
2A(whole life) of the Special Surrender
Value Booklet and will depend upon the
policy term and duration elapsed since the
commencement of the policy.
The discount factors shall be Special
surrender value factors as provided in
Table-1A and 2A(Whole life) of the Special
Surrender Value Booklet and will depend
upon the policy term and duration elapsed
since the commencement of the policy.
Surrender Value Payable Surrender Value payable
The Higher of Guaranteed Surrender Value
and Special Surrender Value shall be
payable.
The Higher of Guaranteed Surrender Value
and Special Surrender Value shall be
payable.
No change in SSV
LIC’s New Jeevan Anand Plan– Surrender Value

9. Jeevan Anand
Plan No. 149
New Jeevan Anand
Plan No. 815
A Policy may be revived within a
period of 5 years from the date of
first unpaid premium.
A Policy may be revived within a
period of 2 years from the date of
first unpaid premium.
Accident Benefit inbuilt. Accident Benefit as a rider.
Taxes, if any , were borne by the
corporation.
Taxes, if any, shall be applicable at the
prevailing rates and borne by the
policyholder as per rules.
There shall be no change in the following Items
Back Dating
Grace Period
Paid-up Value
Assignment/Nomination
LIC’s New Jeevan Anand Plan