LIC Jeevan Kishore

Jeevan Kishore Plan No.102 is an Endowment Assurance plan specially designed for children below 12 years of age. The policy can be purchased by any of the parents/grandparents. Rare is a person who does not love children – sweet, cute, innocent, spreading joy and happiness around. If they are one’s own offspring, the affection is still deeper. The sense of satisfaction one derives in seeing dear ones happy cannot be measured. And our aim should be to keep them secure and happy forever. You will certainly like to give your children a start in life, a gift, a firm financial commitment, for their secure future. Jeevan Kishore (Plan no.102) is a Plan that all parents should gift to their children.

Jeevan Kishore Features:

  • On maturity, an amount equal to SA plus bonuses is given back.
  • On an unfortunate death during the deferment period, the only refund of premiums paid to date is given.
    After the deferment period, an amount equal to SA plus the vested bonuses is given back.
  • The risk starts on completion of 7 years or 2 years from the date of commencement of the policy, whichever is later, which is called the “Deferment Period”
  • Premium Waiver benefit available on the death of the proposer on payment of extra premium.
  • Backdating of policy is allowed.
  • The policy can be surrendered for its paid-up value after a period of 3 years.
  • Standard age proof required
  • All modes of premium payment is allowed.
  • The tax benefit is available on this policy. Parents can claim the tax benefit.
  • A medical examination is not necessary till the child’s age of 10 years.
  • Commencement of risk cover:
    The policy risk cover starts either after 2 years from the date of commencement of policy or from the policy anniversary immediately following the completion of 7 years of age of the child, whichever is later.
  • Premiums:
    Premiums can be paid yearly, half-yearly, quarterly, or monthly throughout the term of the policy or till the earlier death of a child. A single premium option is also available under Jeevan Kishore.
  • Death Benefit:
    The Sum Assured along with vested bonuses, if any, is payable in a lump sum upon the death of the life assured after the commencement of the risk cover. If death occurs before the commencement of the risk, the premiums paid excluding the premiums for the Premium Waiver Benefit, if any, will be refunded to you.
  • Maturity Benefit:
    Sum assured along with all bonuses declared during the policy term is payable in a lump sum on survival to the end of the policy term.
  • Premium Waiver Benefit:
    This is an optional benefit that can be added to this plan. An additional premium is required to be paid for this benefit. By payment of this additional premium, the proposer can secure the benefit of cessation of premiums from his/her death to the end of the deferment period. The deferment period for this purpose is to be taken as 18 minus age at entry of child.
Also Read  LIC Jeevan Anurag

Guaranteed Surrender Value:
The policy may be surrendered after it has been in force for 3 years or more. The guaranteed surrender value, if the policy is surrendered before the date of commencement of risk is 90 % of premiums paid excluding premium for the first year. If a policy is surrendered after the date of commencement of risk, the guaranteed surrender value is 30 % of premiums paid after the commencement of risk together with 90 % of premiums paid before the commencement of risk. Premiums for the first year and the premiums for Premium Waiver Benefit, if any, will be excluded.

Eligibility and Restrictions for LIC Jeevan Kishore plan:

  • Minimum Term: 15 years
  • Maximum Term: 35 years
  • Minimum Sum Assured: Rs.50,000
  • Maximum Sum Assured: 15 lakh
  • Minimum maturity age: 20 years
  • Maximum maturity age: 45 years

Update: Jeevan Kishore Plan No.102 Has Been Discontinued.

The above is the product summary giving the key features of the plan. This is for illustrative purposes only. This does not represent a contract and for details please refer to your policy document.

  1. Please send the premium amount for yearly for Jeevan Kishore policy for 4 lakhs & 5 lakhs

  2. Ravindra.R.Mujumdar January 9, 2013 at 2:27 pm

    Dear sir,
    pls give me lic child plan information for my child. My child age is only 9th months. So pls give me a chart of low premium of lic child plan. I have only 6000/-pm salary. So pls send lic child information.

  3. My bima start date10/01/1997.which policy detail &endding date/ i request u. Cell no.9167258481

  4. I am 29 yrs. old my son of 5 month, I wish to invest in single premium which is the best plan? how much for premium amount for 1lacs insurance? waht is tax benefit? explain with example.

  5. i want to paid 24 thousand per annuam which type of policy should take for child pls guide me.

    thank u.

  6. what will be single premium for Rs 1lakh policy *(jeevan kishore)


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