Jeevan Shagun Plan No. 826: Single Premium Money Back Plan

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

Also Read  Jeevan Shiromani - Money Back Plan

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.

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.


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

  1. I need to know premium amount as one time. Can I take a policy for my grand sons aged 9 & 7
    Premium & sum assured.

  2. i need to know more details about that policy.

    Paisa Portal