LIC Jeevan Kishore Plan

LIC Jeevan Kishore Plan is withdrawn and is no longer available for sale. It is an endowment policy designed for children less than 12 years of age. With a wide range of amazing features and a host of benefits, it offers the dual benefits of savings and financial protection.

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LIC Jeevan Kishore- An Overview

LIC Jeevan Kishore- Plan No. 102 is an especially destined plan for the benefit of children below 12 years. Any of the parents or grandparents may purchase this LIC Child 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- 102 also provides policyholders 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 - 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).

Entry Age 0 years- 12 years
Age At Maturity 20 years- 45 years
Policy Term 15 years-35 years
Sum Assured Rs. 50,000- Rs. 40,00,000

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*: The sum assured on policy maturity is the same as the basic sum assured

    • Death Benefit:

      In the event of the policyholder’s demise after the commencement of the risk, the 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, tips for the Premium Waiver Benefit rider are not paid out in the event of the policyholder’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 the premiums paid. If the policy is surrendered after the 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 the 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 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.

    • Bonuses:
      This is a profit-linked plan, and policyholders 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.

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

      • Sum Assured Rebate: For a Sum Assured between Rs. 50,000 - Rs. 1,00,000, policyholders enjoy 1% of the Sum Assured as a rebate. For a 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 pay their premiums yearly. If the policyholders pay their premiums half-yearly, policyholders get to reach 1.5% of the tabular premium.

Under the LIC Jeevan Kishore Plan, one can enhance the coverage of their base policy by adding a Premium Waiver Benefit Rider. 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.

How To Calculate LIC Plan 102 Maturity Amount?

To calculate the premiums and maturity value of the LIC Jeevan Kishore Plan, you can use the LIC Plan 102 Maturity Calculator. The calculator is an online tool that helps you calculate the maturity value of your policy. It is an online tool that helps estimate the maturity amount of their insurance policy. LIC Plan 102 Maturity Calculator takes into account essential details such as the sum assured, premium payments, policy term, and potential bonuses to provide policyholders with an approximate figure of the maturity value they can expect to receive at the end of their policy's term.

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.


  • Q: How can I calculate the maturity amount for my LIC policy?

    Ans: To calculate the maturity amount for your LIC policy, you can visit the official LIC website and use their LIC Plan 102 Maturity Calculator. This tool will require you to input details specific to your policy, such as the sum assured, premium payments, and policy term.
  • Q: Can I take a loan against the LIC Jeevan Kishore Policy?

    Ans: Yes, you can avail of a loan against the LIC Jeevan Kishore Policy after it acquires a surrender value.
  • Q: Who can purchase the LIC Jeevan Kishore Policy?

    Ans: Parents or legal guardians can purchase the LIC Jeevan Kishore Policy on behalf of their child. The child is the life assured under this policy.
  • Q: Are the maturity calculations provided by the LIC Plan 102 Maturity Calculator reliable?

    Ans: Maturity calculations provided by the LIC Jeevan Kishore Plan 102 maturity calculator are reliable and subject to change based on various factors. The final maturity amount may vary depending on policy performance, bonuses declared, and other factors.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:-
++Returns are 10 years returns of Nifty 100 Index benchmark

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