LIC Jeevan Kiran (Plan 870)

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Key Features of LIC Jeevan Kiran Policy

(A Non-Linked, Non-Participating, Individual, Savings, Life Insurance Plan)

  • This plan offers life cover with TAX FREE return of all premium at the end of plan term chosen by life assured. (except tax or additional rider cover premium)
  • Plan is available for young people starting age of 18 and till the age of 65.
  • Plan has a minimum sum assured of Rs 15 lakh for moderate life cover.
  • Premium payment can be made by way of single premium or by way of regular premium which is payable for the policy term.
  • The policy term varies from 10 years to 40 years.
  • The premium rates are different for non-smokers and smokers.
  • For sum assured more than Rs 50 lakh, rebates are available on tabular premium.
LIC Jeevan Kiran Policy online

Eligibility Conditions

Minimum Age18 Years (Last Birthday)
Maximum Age65years (Last Birthday)
Maximum Maturity Age80 years (Last Birthday)
Policy Term10 years to 40years 
Minimum Sum AssuredRs,1500000
Maximum Sum AssuredNo limit
Premium Payment

Regular Yearly / Half yearly (Equal to the term of the policy)

Single Premium

LoanLoan – Not Applicable
SurrenderEligible After 2 Years
On MaturityBasic premiums paid are fully returned.
On Death before Maturity125% of Sum Assured + Bonus is payable
On Death after MaturitySum Assured is payable
lic jeevan Kiran plan review

How does Jeevan Kiran Plan works for you?

Let us understand the JEEVAN KIRAN LIC policy details with an example of Mr. Rahul, and understand the plan’s working.

Mr.Rahul, a 30-year-old individual working in software company, purchases a New Jeevan Kiran policy. He wants to secure his family’s financial future while also building a savings corpus. After his research, he chooses the following policy details:

  • Policy Term: 25 years – The policy term is the duration for which the policy will remain in force.
  • Sum Assured: Rs. 25lakhs – The sum assured is the amount that will be paid to the nominee in the event of the policyholder’s death.
  • Premium Payment Term: 25 years – The premium payment term is the period during which the policyholder needs to pay the premiums.
  • Premium Amount: Rs. 17608 per year – The premium amount is the annual payment made by the policyholder to keep the policy active.

Calculate Premium for your Age, Select Sum Assured and maturity term as per your need 

Now let’s understand how the Jeevan Kiran policy works:
Life Insurance Coverage: As long as Mr. Rahul pays the Rs.17608 yearly premiums regularly, he will have life insurance coverage of 25 laksh for the entire policy term of 25 years. In the unfortunate event of his demise during the policy term, the nominee will receive the sum assured of Rs. 25 lakhs.
Accidental Death Benefit: In case of the Rahul unfortunately dies in a road accident, the nominee will receive 25 lakh additional accidental death benefit along with normal death benefit of 25 lakhs. Total amount received by nominee is 50 lakhs and is tax free.
Maturity Benefit: If Mr. Rahul survives the policy term of 25 years, he will receive guaranteed full return of all premiums paid by him that too tax free!
Grace period to pay premium: If Rahul forgets to pay premium, he can pay the premiums withing grace period of 30 days else life cover is lost. But however if two years full premiums are paid by Rahul, policy status will go into paid up mode, nominee will still get death claim proportionate to total premiums paid till date. 
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LIC Jeevan Kiran Plan Benefits

Death Benefit

Death benefit payable on death of the life assured during the policy term after the date of commencement of risk but before the date of maturity shall be “Sum Assured on Death”. Under Regular Premium Payment Policy, “Sum Assured on
Death” is defined as the highest of:

  • 7 times of Annualized Premium; or
  • 105% of “Total Premiums Paid” up-to the date of death; or Basic Sum Assured.

Under Single Premium Payment Policy, nominee will get “Sum Assured on Death” higher of: 125% of Single Premium OR Basic Sum Assured.

Maturity Benefit

On Life Assured surviving the stipulated Date of Maturity, “Sum Assured on Maturity” shall be payable, where “Sum Assured on Maturity” is equal to “Total Premiums Paid” under Regular Premium Payment policy and “Single Premium Paid” under Single Premium Payment Policy.


The LIC Jeevan Kiran Plan includes a Surrender Value provision, which allows the insured to receive a percentage of the Premium Amount if they choose to surrender the policy .

Under Jeevan Kiran Regular Premium payment, the policy can be surrendered by the Policyholder at any time during the policy term provided two full years’ premiums have been paid. Under Single Premium payment, the policy can be surrendered by the policyholder at any time during the policy term.

During first three policy year: 75% of the Single premium Paid. 
Thereafter: 90% of the Single premium Paid

Participation in Profit

LIC Jeevan Kiran a non-participating product under which benefits
payable on death or maturity are guaranteed and fixed
irrespective of actual experience. Hence the policy is not
entitled to any discretionary benefits like bonus etc. or share
in Surplus. 

Additional Benefits of LIC Jeevan Kiran Plan


Single Premium Payment: LIC’s Accidental Death
and Disability Benefit Rider shall be available under single premium payment and the policyholder can opt for this rider at the inception only.

 Regular Premium Payment: The policyholder can opt between either of the LIC’s Accidental Death and Disability Benefit Rider  OR LIC’s Accident Benefit Rider under regular premium payment

Settlement Option (for Maturity Benefit):

Settlement Option is an option to receive Maturity
Benefit in instalments over a period of 5 years instead of
lumpsum amount under an In-force as well as Paid-up
policy. This option can be exercised by the Life Assured
for full or part of Maturity proceeds payable under the

Option to take Death Benefit in Instalment:

This is an option to receive Death Benefit in instalments over
a period of 5 years instead of lump sum amount under an In-force as well as Paid-up policy.

Income Tax Benefit

The policy offers a tax benefit wherein the premium deposited, up to Rs 1.5 lakh per financial year, qualifies for exemption under section 80C of the Income Tax Act. Additionally, the maturity amount, which is ten times the annual premium, is also exempt from taxes under section 10(10D).



Documents required to buy LIC Jeevan Kiran Policy Online

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Address ProofAadhar Zip FileAddress ProofAadhar
ID ProofID ProofPan Card or Aadhar
Age ProofAge ProofAadhar / Driving License
  Income ProofIT Returns of last 2 years
  PhotoPassport Photo

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FAQs on LIC Jeevan Kiran Plan before buying

Why should I buy this policy?

This plan is suitable if you are are looking for team plan with lower premium and higher life insurance cover and want return of premiums paid as you don’t want to spend more money on term insurance.

This is lowest premium term insurance plan with return of premiums in LIC.

Go for it..

This plan is not investment plan as returns are zero and high life insurance cover safeguard your family from financial burden and risk.. But all premiums you have paid will be returned to you at the end of the policy term and return amount is tax free.

If you are looking at investment purpose, you can buy LIC Jeevan Labh plan with high returns or LIC Bima Ratna plan

Apply online on this website. Qualified sales representative will contact you and guide you in verification of your documents, payment and policy issuance.