1) The document compares LIC's existing Jeevan Anand plan (Plan 149) to the new Jeevan Anand plan (Plan 815). 2) Key differences in the new plan include a reduced maximum entry age of 50 (from 65), shorter policy terms of 15-35 years (from 5-57 years), and modifications to death benefits, loan terms, surrender values, and revival periods. 3) However, some items remain unchanged between the plans, such as backdating, grace periods, paid-up values, and assignment/nomination.

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

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

3. LIC’s New Jeevan Anand Plan– Benefits
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]

4. LIC’s New Jeevan Anand Plan–
Eligibility Conditions and Restrictions
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

5. LIC’s New Jeevan Anand Plan– Rebates
Rebate
Mode
Rate
modified
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
Slab & Rate
modified
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

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

7. LIC’s New Jeevan Anand Plan– Surrender Value
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)
GSV %
modified
Cash Value of vested bonuses, if any.
Bonus
Payable
modified
No
Change
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%

8. LIC’s New Jeevan Anand Plan– Surrender Value
No change in SSV
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.

9. LIC’s New Jeevan Anand Plan
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