LIC Jeevan Shagun Single-Premium, Money Back Plan (Table No. 826) It’s a close-ended plan, Available for 90 days from 1st November 2014.


  • Single-Premium
  • Money-Back Plan
  • 10 times sum assured
  • Loan & Surrender available from 2nd year onward
  • 12 Year Term
  • Surrender any time.

Death Benefit:

If the policyholder dies within 5 years, the Basic sum assured i.e 10 times of your single premium would be payable to the nominee.

In case, the policyholder dies after 5 years, the Basic sum assured would be paid to the nominee ie. 10x of your single premium plus loyalty addition, if any.

Survival Benefit:

If the policyholder survives till the end of the specific policy year, the following benefits will be payable.

  • At the End of the 10th Policy year: 15% Of the Maturity Sum Assured (MSA)
  • At the end of the 11th policy year: 20% of the Maturity Sum Assured
  • At the end of the 12th Year (On Maturity) remaining 65% of Maturity Sum Assured along with Loyalty addition (if any)  will be paid to the policyholder.

Eligibility condition and other restriction for Jeevan Shagun:

  • Minimum Entry Age: 8 Years (Completed)
  • Maximum Entry Age: 45 Years ( Nearest Birthday)
  • Policy Term: 12 years
  • Sum Assured: 10 times of Tabular Premium
  • Minimum Maturity SA: Rs.60,000/-
  • Maximum Maturity SA: No Limit
  • Premium Paying Mode: One-time Premium
    (Sum Assured will be in multiples of Rs.5000/-)

High Sum Assured Rebate:
Sum Assured (SA)                      Rebate (Rs.)
Below Rs.1,50,000/-                Nil
Rs.1,50,00 – 3,95,000/-         Rs.15 per 1000 on MSA
4 lacs and above                        Rs.20 per 1000 on MSA

Loan Facility:
Policyholders can avail of loans after completing one policy year.

  • 1st Year = No Loan
  • 2nd to 3rd year: 50% of Surrender Value.
  • 4th to 6th year: 60% of Surrender Value.
  • 7th to 9th year: 70% of Surrender Value.
  • 10th to 12 years: 90% of Surrender Value.
Also Read  Bima Bachat

How much will you get if you surrender your policy?

If you want to surrender your policy, you are eligible for the Minimum Guarantee Surrender value as follows:

  • First-year: 70% of single premium excluding extra premium and taxes, if any.
  • 2nd year onward: 90% of single premium excluding extra premium and taxes, survival benefit paid if paid earlier.

LIC may pay a higher surrender value calculated at the time of surrendering the policy. If a policy is being surrendered after completing 5 policy years, LIC shall also pay Loyalty addition, if any, based on surrender value.

Read More: How To Check the Current Value of your ULIP Policy?

Cooling Off Period:
If you don’t like the policy you have 15 days to cancel your policy.

Lic Jeevan Shagun Policy Premium Calculator
Age 8 Yrs MSA Rs.1 lac= Rs.50,880.
Age 20 Yrs MSA Rs.1 lac= 52,390.
Age 25 Yrs MSA Rs.1 lac= Rs.52,803.
Age 30 Yrs MSA Rs.1 lac= Rs.53,736.
Age 35 Yrs MSA Rs.1 lac= Rs.56,019.
Age 40 Yrs MSA Rs.1 lac= Rs.61,380.
Age 45 Yrs MSA Rs.1 lac= Rs.74,106

Benefit illustration:
Age: 30
SA: 1 lac
Single Premium: Rs.53,736 (52,125+ 1611 Tax)
Approx. Maturity return:
Risk cover: Rs.5,21,250 (10 times of premium paid)
End of 10 year 15% MSA: 15,000/-
End of 11 year 20% MSA: 20,000/-
Loyalty addition: 5000/- approx.
12th year Maturity: 70,000 (SA + IB+ final Bonus) approx.


Update: Jeevan Shagun Plan No. 826 Has Been Discontinued.