LIC’s Jeevan Kiran is an Individual, Savings, Non-Linked, Non-Participating Life Insurance plan that provides both protection and savings. This plan offers financial support to the family in case of the unfortunate death of the life assured during the policy term. If the policyholder survives until maturity, the plan returns all the total premiums paid. It’s a non-participating product, meaning the benefits for death or maturity are guaranteed and fixed, without any discretionary bonuses or surplus sharing. You can purchase this plan either offline through agents or other intermediaries, or directly online via the website www.licindia.in.
Benefits
This plan offers the following benefits:
Life insurance coverage in the event of an unfortunate death.
Return of total premiums paid (excluding any extra premium, rider premium, and taxes) in case of survival until maturity.
Flexibility to choose between Single Premium and Regular Premium Payment options.
The freedom to select the protection period.
The option to receive benefits in installments.
Attractive High Sum Assured Rebate.
Two premium rate categories: Non-Smoker rates based on Urinary Cotinine test findings and Smoker rates for all other cases.
The ability to enhance coverage by adding Accident Benefit Rider or Accidental Death Disability Benefit Rider for an additional premium.
Eligibility Conditions
| Minimum Basic Sum Assured | 18 years (last birthday) | |
| Maximum Age at Entry | 65 years (last birthday) | |
| Minimum Age at Maturity | 28 years (last birthday) | |
| Policy Term | 10 years to 40 years | |
| Minimum Basic Sum Assured | Rs. 15,00,000/- | |
Payment Options Available
| Mode of Instalment payment | Minimum instalment amount | |
| Monthly | Rs 5,000/- | |
| Quarterly | Rs 15,000/- | |
| Half-Yearly | Rs 25,000/- | |
| Yearly | Rs 50,000/- | |
Exclusion:
Under Regular Premium Payment: i) If the Life Assured, whether sane or insane, commits suicide within 12 months from the risk commencement date, and the policy is in force, the Nominee or Beneficiary is entitled to receive 80% of the total premiums paid up to the date of death. ii) If the Life Assured, whether sane or insane, commits suicide within 12 months from the date of revival, the payout is the higher of 80% of the total premiums paid up to the date of death or the surrender value as of the date of death. No other claims are entertained under the policy.
This clause does not apply to lapsed policies without acquired paid-up value, for which nothing is payable.
Under Single Premium Payment: If the Life Assured, whether sane or insane, commits suicide within 12 months from the risk commencement date, the Nominee or Beneficiary is entitled to 80% of the Single Premium paid.
The premium mentioned does not include any taxes, extra amounts due to underwriting decisions, or rider premiums, if applicable.
