LIC Jeevan Kishore Plan

LIC is one of the most trusted insurers in India. With a huge customer base of over 250 million consumers, the company offers a wide range of insurance policies to ensure comprehensive financial security for all its policyholders. It is difficult not to talk about Jeevan Kishore Policy (Table no.102). Introduced in 1990, this LIC plan is a participating, profit-linked Endowment Assurance Plan with a wide range of amazing features and a host of benefits. It offers its policyholders the dual benefits of savings and financial protection.

Read more
LIC, Policybazaar join hands to
accelerate insurance growth
LIC investment
  • Buy LIC policy online
    hassle free

  • Guaranteed maturity with life
    cover for securing family's future

  • Tax saving under Sec 80C &

  • Sovereign guarantee as per
    Sec 37 of LIC Act

Now Available on Policybazaar
Grow wealth through
100% Guaranteed Returns with LIC
View Plans
Please wait. We Are Processing..
Plans available only for people of Indian origin By clicking on "View Plans", you agree to our Privacy Policy and Terms of Use #For a 55 year on investment of 20Lacs #Discount offered by insurance company Tax benefit is subject to changes in tax laws
Get Updates on WhatsApp
We are rated
58.9 million
Registered Consumers
26.4 million

The policy has been specially conceptualized for the benefit of children aged below 12 years. Any of the parents or the grandparents may purchase this child's plan. In case, the parents of the child aren’t alive, a legal guardian can also buy this policy.

Under this LIC policy, the risk cover on a child’s life begins either after 2 years from the policy issuance date or after completing a child’s 7 years of age, whichever is later. On the policy's Maturity date, the policyholder or the nominee is paid the Sum Assured with the Bonuses. Jeevan Kishore Insurance Policy (Table no. 102) also provides policyholders with the option of securing their children's future with Premium Waiver Benefit riders.

LIC Jeevan Kishore Plan- Features

Let’s take a look at some of the highlights of the Jeevan Kishore Insurance Plan (Table no. 102):

  • The minimum sum assured is Rs. 50,000             
  • The minimum policy term is 15 years.
  • The premium can be paid yearly, half-yearly, quarterly, and single (lump-sum)
  • Irrespective of the policy term, you opt for the premium paying time to be 3 years less than the policy term.
  • The minimum age of entry is 0 years.
  • The maximum age of entry is 12 years.
  • The minimum age at maturity is 20 years.
  • The maximum age maturity is 45 years.
  • At the end of the maturity period, Sum Assured with bonuses is paid out.
  • The plan comes with two additional riders - Premium Waiver Benefit and Accidental Death Benefit.   
  • Medical tests aren’t required for children below 10 years of age.
  • An additional bonus may also be paid out to the policyholder if the policy has successfully run for a certain period of time.

LIC Jeevan Kishore Plan - Documents Required

Given below is the list of documents required to apply for the Jeevan Kishore insurance plan (table no. 102):

  • Application or proposal form
  • Passport size photograph
  • Address proof
  • Age proof
  • Form number 340 with medical reports of children above the age of 10 years.

LIC Jeevan Kishore Policy- Benefits

Listed below are the benefits of LIC’s Jeevan Kishore Insurance Plan (table no. 102):

  • Maturity Benefit: Under this plan, the policyholder or the nominees are paid Sum Assured with all Bonuses (Simple Reversionary Benefit + Final Additional Bonus, if any) at the time of maturity, provided all the premiums have been paid on time.
    Please Note*: Sum assured on policy maturity is the same as the basic sum assured
  • Death Benefit: In the event of the policy holder’s demise after the commencement of the risk, Sum Assured with all the vested bonuses, if any, is paid in a lump sum. But if the policyholder dies before the commencement of the risk, only premiums paid to date are paid out. In addition, premiums for the Premium Waiver Benefit rider are not paid out in the event of the policy holder’s demise before the commencement of the risk. 
  • Guaranteed Surrender Value: The policy may be surrendered only after 3 years or more of successful premium payments. If the policy is surrendered before the commencement date of risk, the guaranteed surrender value is 90% of premiums paid. If the policy is surrendered after the date of commencement of risk, the guaranteed surrender value is 30% of premiums paid after the commencement of risk, and 90% of premiums paid before the commencement of risks is paid out. The guaranteed surrender value excludes the premiums for the first year and premiums for Premium Waiver benefit, of any. 
  • Loan Against Policy –Under this plan, the policyholder can take a loan against the policy after attaining 18 years of age. 
  • Tax Benefits: The premium paid for up to Rs. 1,00,000 is allowed as a deduction from the taxable income each year under section 80C of the Income Tax Act.

LIC Jeevan Kishore Plan - Eligibility Criteria

Before we proceed any further, let’s take a look at the eligibility criteria of the Jeevan Kishore Insurance Plan (Table no. 102).

Minimum entry age

o years

Maximum entry age

12 years

Minimum age at maturity


Maximum age at maturity

45 years

Minimum policy term

15 years

Maximum policy term

35 years

Minimum sum assured amount

Rs. 50,000

Maximum sum assured

Rs. 40,00,000

  1. Bonuses

    This is a profit-linked plan, and policyholders get to enjoy a fraction of the profits of the insurer’s business. Simple Reversionary Bonuses (per thousand Sum Assured) are declared at the end of every financial year for the entire policy term until the final payment is made. These Simple Reversionary Bonuses become a part of guaranteed benefits once declared. In addition, policyholders may also avail of an Additional Bonus if regular premium payments have been made for a specified period of time.

  2. Rebates

    There are two types of rebates provided under LIC’s Jeevan Kishore Insurance Policy (Table no. 102). These are:

    • Sum Assured Rebate: For Sum Assured between Rs. 50,000 to Rs. 1,00,000, policyholders get to enjoy 1% of the Sum Assured as a rebate. For Sum Assured equal to or higher than Rs.1,01,000/-, policyholders get to enjoy a 2% of the Sum Assured as a rebate. There is no rebate for Sum Assured equal to or less than Rs. 50,000.
    • Mode Rebate: Policyholders can earn a 3% rebate of the tabular premium if they choose to pay their premiums yearly. If the policyholders pay their premiums half-yearly, policyholders get to earn 1.5% of the tabular premium.
  3. Riders

    There are two riders available with this plan:

    • Premium Waiver Benefit: This rider ensures that all future premiums are waived off in the event of the policyholder’s demise before the policy's maturity. This rider may be taken by the proposer of the Jeevan Kishore Policy (Table no. 102). One needs to pay an additional premium to avail of this rider.
    • Accidental Death Benefit: This rider ensures that a lump sum is paid to the nominee of the policy in the event of the accidental death of the policyholder. The policyholder can avail this rider once he/she attains the age of 18.

Now it’s Your Turn!

So there you have it, everything that you need to know about LIC’s amazing Jeevan Kishore (table no. 102).

Download the Policybazaar app
to manage all your insurance needs.