LIC of India
LIC's Jeevan Kiran Policy

LIC Jeevan Kiran

LIC’s Jeevan Kiran is a non-participating, non-linked, individual savings life insurance plan that perfectly combines savings with protection. The plan offers comprehensive protection to the finances of the insured’s family in the event of an unexpected death of the life assured over the policy period and pays the whole premiums paid in the event of maturity survival.

This non-participating product has guaranteed and fixed benefits payable upon death or maturity, regardless of actual experience. As a result, the policy does not qualify for any optional advantages, such as bonuses or shares in surplus.

Eligibility Criteria

Minimum Entry Age18 Years
Maximum Entry Age65 Years
Minimum Age At Maturity28 Years
Maximum Age At Maturity80 Years
Policy Term10 To 40 Years
Minimum Basic Sum AssuredRs. 15,00,000/-
Maximum Basic Sum AssuredNo Limit
Premium Payment Term

Under Regular Premium: Same As Policy Term

Under Single Premium: Not Applicable

What Are The Main Advantages & Characteristics Of LIC Jeevan Kiran Plan?

Here is a list of some of the main features and benefits of the plan:


The plan provides flexibility to choose between single and regular premiums, the period of time for which the protection is necessary, and payment of benefits in installments.

Death Benefit:

“Sum Assured on Death” or death benefit will be paid out if the life assured passes away within the policy’s term after the beginning of the risk but before the maturity date.

Under the regular premium payment option, the “Sum Assured on Death” will be the highest of:

  • 7 times of annualized premium
  • 105% of “Total Premiums Paid” up to the date of death, or
  • Basic Sum Assured

Under the single premium payment option, the “Sum Assured on Death” will be:

  • 125% of single premium, or
  • Basic Sum Assured

Maturity Benefit:

The “Sum Assured on Maturity” will be paid if the life assured survives the designated date of maturity and is equal to the “Total Premiums Paid” under a Regular Premium Payment policy and the “Single Premium Paid” under a Single Premium Payment Policy.

Rider Benefits:

The policyholder can enhance the policy by selecting various optional riders available under the plan with an extra payment. They are as follows:

  • LIC’s Accidental Death and Disability Benefit Rider
  • LIC’s Accident Benefit Rider

Settlement Option:

If the policyholder chooses the settlement option, he can choose to receive his maturity benefit from a paid-up or in-force policy in 5 annual installments rather than a lump sum. The amount selected by the life assured (i.e., Net Claim Amount) may be calculated either as a percentage of the total claim funds payable or as an absolute sum.

Option To Take Death Benefit In Installments:

This is an option to receive the death benefit under an in-force as well as paid-up policy in five-year installments rather than a lump sum. The life assured may use this option at any moment during his or her lifetime to receive all or a portion of the death benefits provided by the policy.

Grace Period:

From the date of the first unpaid premium, a grace period of 30 days will be given for the payment of yearly or half-yearly premiums. The policy will be regarded as continuing to provide risk coverage throughout this time, in accordance with the provisions of the policy, without interruption. The policy will expire if the premium is not paid before the days of grace have passed.

Free Look Period:

If the policyholder has any objections to the “terms and conditions” of the policy, they may return the policy to the corporation within 30 days of the day they received the physical or electronic version of the policy document, whichever comes first, along with a statement of their complaints.

High Rebates:

The plan offers the following rebates:

Under Regular Premium Payment:

Age Band (LBD)High BSA Rebate As A % Of Tabular Annual Premium For Different BSA
Less Than Rs. 50 LakhsRs. 50 Lakhs To Less Than Rs. 1 CroreRs. 1 Crore To Less Than Rs. 2 CroresRs. 2 Crores To Less Than Rs. 5 CroresRs. 5 Crores And Above
Up To 30 YearsNil24%32%43%50%
31 To 50 YearsNil12%17%25%30%
51 Years And AboveNil9%13%18%20%

Under Single Premium Payment:

Age Band (LBD)High BSA Rebate As A % Of Tabular Single Premium For Different BSA
Less Than Rs. 50 LakhsRs. 50 Lakhs To Less Than Rs. 1 CroreRs. 1 Crore To Less Than Rs. 2 CroresRs. 2 Crores To Less Than Rs. 5 CroresRs. 5 Crores And Above
Up To 30 YearsNil20%28%35%40%
31 To 50 YearsNil10%15%20%24%
51 Years And AboveNil8%12%15%18%

Rebate Under Online Sale:

Premium PaymentRebate (As A % Of Tabular Annual/ Single Premium)
Regular Premium10%
Single Premium2%

Exclusions Under LIC Jeevan Kiran Policy

The following conditions are related to the policy’s exclusions:

Under Regular Premium Payment:

  1. The nominee or beneficiary of the life assured shall be entitled to receive 80% of the total premiums paid up until the day of death, providing the policy is in place, if the life assured (whether sane or insane) commits suicide at any time within 12 months from the date of the beginning of risk.
  1. An amount equal to greater of 80% of the total premiums paid up to the date of death or the surrender value available as of the date of death must be payable in the event that the life assured (whether sane or insane) commits suicide within 12 months of the date of revival. The life assured’s nominee or beneficiary is not eligible for any additional insurance claims.

This clause will not apply to plans that have expired without accumulating paid-up value, and such policies will not be subject to any payments.

Under Single Premium Payment:

  1. The nominee or beneficiary of the life assured shall be entitled to 80% of the single premium paid if the life assured (whether sane or insane) commits suicide at any time during 12 months from the date of commencement of risk. Taxes, additional amounts charged under the insurance owing to an underwriting decision, and any applicable rider premiums are not included in the aforementioned payment.

Sample Premium & Benefit Illustration Of LIC Jeevan Kiran Policy

Before buying the LIC Jeevan Kiran plan, one should be aware of how much he/she needs to spend in a premium amount. Therefore, the table below (which is for regular premiums) has provided premium amounts for different policy terms and the age of the insured. Let’s take a look!

Age (Last Birthday)Annual Premium (In Rs.)
Policy Term

Now, let’s understand the plan with a benefit illustration. The main goal of this illustration is to enable the client to understand the benefits of the product.

Mr. X, a 40 years old non-smoker, has purchased the regular premium policy through offline sales. The details of his policy are as follows:

  • Policy Term: 20 Years
  • Premium Paying Term: 20 Years
  • Basic Sum Assured: Rs. 50,00,000

Let’s take a look at how Mr. X will be benefitted from the plan!

Policy Year (End Of The Year)Annualized Premium (Cumulative)Guaranteed Benefits (In Rs.)
Maturity Benefit


Death Benefit

Minimum Guaranteed Surrender Benefit

Buying Process Of LIC Jeevan Kiran

To purchase the plan, one needs to follow the below-mentioned steps:

  1. Go to the homepage of the LIC’s website.
  1. Click on the “Buy Online” tab under the “How may we help you today?” section.
  1. A list of plans will be displayed on the screen that are available for online purchase. Select “LIC Jeevan Kiran” from the list.
  1. Now the plan’s details will be shown. Just press “Click To Buy Online”.
  1. You will be instructed to keep the necessary documents available for the uploading process on the next page. Select “Proceed” from the menu.
  1. Type in the COVID-19 data and click “Proceed.”
  1. Fill out the fields below with your contact information, including name, birth date, mobile number, etc., then click “Proceed” after checking the appropriate boxes.
  1. After your access ID has been generated, you will be asked to enter the OTP that was provided to your mobile phone on the next screen. Enter it, then select “Proceed” to continue.
  1. On the following page, you will be prompted to input your personal data and product details. Click “Calculate Premium” after entering all the information.
  1. The screen will display the premium information. Click “Confirm & Proceed” only once.
  1. The company’s website will request more information, such as a permanent address and so forth. Please complete them all before going to the payment page.
  1. Make the payment and the policy information will be provided to the registered contact information once the payment has been completed.

Frequently Asked Questions

The minimum premium amounts under the plan are as follows:

  • For regular premium: Rs. 3,000 in installments
  • For a single premium: Rs. 30,000

The minimum installment amounts for receiving the death and maturity benefit under the plan are as follows:

For Maturity Benefit & Death Benefit

Mode Of Instalment PaymentMinimum Instalment Amount
MonthlyRs. 5,000/-
QuarterlyRs. 15,000/-
Half-YearlyRs. 25,000/-
YearlyRs. 50,000/-

No. There is no loan facility under the plan.

‘Total premiums paid’ means a sub-total of all the premium amounts received by the insurance company, excluding any rider premium, taxes, and extra premium.

Yes. There are basically two categories of premium rates under the plan: smoker and non-smoker. The premium rates will be based on the findings of the Urinary Cotinine test. 

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