98.15%
Claim Settlement Ratio

Our Verdict

LIC's Jeevan Kiran is ideal for individuals seeking both life coverage and savings. It refunds premiums on survival, ensuring financial security, but excludes taxes and rider costs from the return, reducing overall benefits.

About the Plan

Eligibility

Features of the Product

01

Premium Payment Customizations

  1. Policyholders can choose between:

    Single Premium Payment – One-time lump sum payment.

    Regular Premium Payment – Paid throughout the policy term.

    Available premium payment modes: Yearly and Half-Yearly.

02

High Sum Assured Rebate

  1. Policyholders opting for a higher sum assured get a rebate on premiums based on the chosen coverage amount.

    The rebate percentage varies according to the sum assured and age band.

03

Waiting Period & Suicide Clause

  1. If the policyholder dies by suicide within 12 months from the policy start date, the nominee receives 80% of total premiums paid.

    For single premium policies, the refund is 90% of the premium paid.

04

Revival of Lapsed Policies

  1. If premiums are not paid within the grace period, the policy lapses.

    A lapsed policy can be revived within 5 years from the first unpaid premium date by paying arrears with interest.

05

Settlement Option for Maturity Benefit

    Learn more

    Exclusions

    Add-ons

    CIGARETTE

    If you smoke

    1. LIC applies higher premium rates for smokers due to increased health risks.

      The policy has two premium categories:

      Non-Smoker Rates – Applicable if the policyholder passes the Urinary Cotinine Test.

      Smoker Rates – Applied if the policyholder fails the test or does not undergo it.

      Smoking does not affect the coverage but results in higher premium costs compared to non-smokers.

    Note :

    1. Suicide Clause: If the policyholder dies by suicide within 12 months from the date of policy commencement or revival, the nominee will receive:

      For Regular/Limited Premium: 80% of total premiums paid (excluding taxes and rider premiums).

      For Single Premium: 90% of the single premium paid (excluding taxes and rider premiums).

    2. Free Look Period: 15 days (if purchased offline) and 30 days (if purchased online).

      The policyholder can cancel the policy within this period if unsatisfied, and the premium paid will be refunded after deducting expenses like medical examination and stamp duty charges.

    3. Grace Period: 30 days for yearly, half-yearly, and quarterly premium payments.

      15 days for monthly premium payments.

      During this period, the policy remains active, and benefits are intact.

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