
Lic Jeevan Kiran Plan
Life Insurance Corporation of India
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
LIC's Jeevan Kiran is a non-linked, non-participating, individual savings life insurance plan that offers financial protection to the policyholder's family in the event of the policyholder's untimely demise during the policy term. Notably, if the policyholder survives the policy term, the plan returns the total premiums paid, excluding any extra premium, rider premium, and applicable taxes. This dual benefit structure ensures both risk coverage and savings, making it a suitable choice for individuals seeking comprehensive financial security.
About the Plan
Eligibility
• Entry Age :
18 to 65 years
• Maximum Maturity Age :
99 years
• Policy Term :
5 to 99 years (Whole life option available)
• Minimum Sum Assured :
₹50,00,000
• Premium Payment Term :
Single, Limited, or Regular Pay
• Premium Payment Frequency :
Monthly, Half-Yearly, or Yearly
• Citizenship :
Indian residents and NRIs (subject to underwriting)
Eligibility
Features of the Product
Premium Payment Customizations
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.
High Sum Assured Rebate
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.
Waiting Period & Suicide Clause
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.
Revival of Lapsed Policies
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.
Settlement Option for Maturity Benefit
Exclusions
45-day waiting period: Only accidental death is covered; death due to natural causes or illness is excluded.
If death occurs by suicide within 12 months, only a percentage of the premiums paid is refunded.
Death due to pre-existing illnesses within the waiting period is not covered.
Death due to intentional self-harm (excluding suicide clause) is not covered.
Death occurring while committing unlawful acts is excluded.
Death due to drug overdose, alcohol abuse, or intoxication is not covered.
Death caused by war, terrorism, or nuclear hazards is excluded.
Death from extreme sports, aviation (except as a passenger), or military operations is not covered.
Exclusions
Accidental Death - Policyholders can opt for:
LIC’s Accidental Death and Disability Benefit Rider
LIC’s Accident Benefit Rider
Add-ons

If you smoke
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 :
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).
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.
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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About the Company
Life Insurance Corporation of India (LIC) is a state-owned life insurance company established in 1956. Life Insurance Corporation of India (LIC) was founded by the Government of India,through the integration of several private insurance companies.
LIC offers a wide range of insurance products, including plans for life protection, pension, and investment. LIC is recognized for its trustworthiness and strong customer base, providing financial security to millions. It plays a pivotal role in the country’s insurance sector and aims to deliver value to its customers through reliable services and customer-centric policies.