<p>LIC <strong>Jeevan Shagun</strong> (Table No. 826) was a single-premium money-back plan introduced in 2014 as a limited-period offer. This policy was designed to provide a combination of risk coverage and savings with money-back benefits and a maturity bonus.</p>



<p><strong>Note:</strong> This plan is no longer available for purchase as it has been discontinued.</p>



<h2 class="wp-block-heading">Key Features of Jeevan Shagun Plan</h2>



<ul class="wp-block-list">
<li><strong>Single Premium:</strong> Pay the premium only once at the start of the policy.</li>



<li><strong>Money-Back Benefits:</strong> Regular payouts during the policy term.</li>



<li><strong>High Sum Assured:</strong> Guaranteed risk cover of 10 times the single premium.</li>



<li><strong>Loan Facility:</strong> Loans are available after the first policy year.</li>



<li><strong>Policy Term:</strong> Fixed term of 12 years.</li>



<li><strong>Flexibility to Surrender:</strong> Option to surrender the policy at any time after the first year.</li>
</ul>



<h2 class="wp-block-heading"><br />Benefits of Jeevan Shagun Plan</h2>



<h3 class="wp-block-heading">1. <strong>Death Benefit</strong></h3>



<ul class="wp-block-list">
<li><strong>If death occurs within the first 5 years:</strong> The nominee will receive the basic sum assured (10 times the single premium).</li>



<li><strong>If death occurs after 5 years:</strong> The nominee will receive the basic sum assured plus any loyalty addition.</li>
</ul>



<h3 class="wp-block-heading">2. <strong>Survival Benefit</strong></h3>



<p>Policyholders receive money-back payouts during the last three years of the policy:</p>



<p><strong>End of 12th year (Maturity):</strong> 65% of the MSA + Loyalty Addition (if applicable).</p>



<p><strong>End of 10th year:</strong> 15% of the Maturity Sum Assured (MSA).</p>



<p><strong>End of 11th year:</strong> 20% of the MSA.</p>



<h2 class="wp-block-heading">Eligibility Criteria</h2>



<ul class="wp-block-list">
<li><strong>Minimum Age at Entry:</strong> 8 years (completed).</li>



<li><strong>Maximum Age at Entry:</strong> 45 years (nearest birthday).</li>



<li><strong>Policy Term:</strong> 12 years.</li>



<li><strong>Minimum Maturity Sum Assured:</strong> Rs.60,000.</li>



<li><strong>Maximum Maturity Sum Assured:</strong> No limit.</li>



<li><strong>Premium Payment:</strong> One-time (single premium).</li>
</ul>



<h2 class="wp-block-heading">High Sum Assured Rebate</h2>



<p>Policyholders received discounts based on the sum assured:</p>



<ul class="wp-block-list">
<li><strong>Below Rs.1,50,000:</strong> No rebate.</li>



<li><strong>Rs.1,50,000 to Rs.3,95,000:</strong> Rs.15 per Rs.1,000 of MSA.</li>



<li><strong>Rs.4,00,000 and above:</strong> Rs.20 per Rs.1,000 of MSA.</li>
</ul>



<h2 class="wp-block-heading">Loan Facility</h2>



<p>Loans were available from the second policy year:</p>



<ul class="wp-block-list">
<li><strong>2nd to 3rd year:</strong> Up to 50% of surrender value.</li>



<li><strong>4th to 6th year:</strong> Up to 60% of surrender value.</li>



<li><strong>7th to 9th year:</strong> Up to 70% of surrender value.</li>



<li><strong>10th to 12th year:</strong> Up to 90% of surrender value.</li>
</ul>



<h2 class="wp-block-heading">Surrender Value</h2>



<p>Policyholders could surrender their policy and receive:</p>



<ul class="wp-block-list">
<li><strong>1st year:</strong> 70% of the single premium (excluding taxes and extra premiums).</li>



<li><strong>From the 2nd year onward:</strong> 90% of the single premium (excluding taxes and extra premiums), minus any survival benefits already paid.</li>
</ul>



<p><strong>Additional Benefit:</strong> Loyalty additions, if applicable, were included for policies surrendered after 5 years.</p>



<h2 class="wp-block-heading">Example Premiums and Returns</h2>



<p>Below is an example for a policy with a Maturity Sum Assured of ?1,00,000:</p>



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th class="has-text-align-center" data-align="center">Age (Years)</th><th class="has-text-align-center" data-align="center">Single Premium (Rs.)</th></tr></thead><tbody><tr><td class="has-text-align-center" data-align="center">8</td><td class="has-text-align-center" data-align="center">50,880</td></tr><tr><td class="has-text-align-center" data-align="center">20</td><td class="has-text-align-center" data-align="center">52,390</td></tr><tr><td class="has-text-align-center" data-align="center">30</td><td class="has-text-align-center" data-align="center">53,736</td></tr><tr><td class="has-text-align-center" data-align="center">40</td><td class="has-text-align-center" data-align="center">61,380</td></tr><tr><td class="has-text-align-center" data-align="center">45</td><td class="has-text-align-center" data-align="center">74,106</td></tr></tbody></table></figure>



<h3 class="wp-block-heading">Benefit Illustration for Age 30</h3>



<ul class="wp-block-list">
<li><strong>Single Premium Paid:</strong> Rs.53,736 (including taxes).</li>



<li><strong>Risk Cover:</strong> Rs.5,21,250 (10 times the premium).</li>



<li><strong>Survival Benefits:</strong>
<ul class="wp-block-list">
<li>10th Year: ?15,000.</li>



<li>11th Year: ?20,000.</li>



<li>12th Year (Maturity): Rs.70,000 (includes loyalty addition of approx. Rs.5,000).</li>
</ul>
</li>
</ul>



<h2 class="wp-block-heading">Conclusion </h2>



<p>LIC Jeevan Shagun Plan No. 826 was a popular single-premium plan for a limited time. While this plan is no longer available, LIC continues to offer other policies with similar benefits. For updated plans, consult your <a href="https://mypaisa.in/how-to-become-an-lic-agent/" data-type="post" data-id="2735">LIC advisor </a>or visit the official LIC website.</p>

This post was last modified on January 12, 2025
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