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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 policy holders.

It is difficult not to talk about Jeevan Kishore Policy (Table no.102) when talking about some of the best LIC plans. Introduced in the year 1990, this 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 with the dual benefits of savings and financial protection.

The policy has been especially conceptualized for the benefit of children aged below 12 years. Any of the parents or the grand-parents may purchase this child plan. In case, parent of the child aren’t alive, a legal guardian can also purchase 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 the completion of a child’s 7 years of age, whichever is later. On the Maturity date of the policy, the policy holder or the nominee are paid the Sum Assured with the Bonuses. Jeevan Kishore Insurance Policy (Table no. 102) also provides policyholders with the options of securing the future of their children 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).

  • Minimum sum assured is Rs. 50,000             
  • 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 term is 3 years less than the policy term
  • Minimum age of entry is 0 years
  • 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 are 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 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 same as the basic sum assured

  • Death Benefit: In the event of 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 policy holder dies before the commencement of the risk, only premiums paid till date are paid out. In addition, premiums for the Premium Waiver Benefit rider are not paid out, in the event of 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 date of commencement 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 first year and premiums for Premium Waiver benefit, of any. 
  • Loan Against Policy –Under this plan, the policy holder is liable to 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 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



This is a profit linked plan and policy holders 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 done. These Simple Reversionary Bonuses become a part of guaranteed benefits, once declared. In addition, policy holders may also avail an Additional Bonus if regular premium payments have been made for a specified period of time.


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

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


There are two riders available with this plan:

  1. Premium Waiver Benefit: This rider ensures that all future premiums are waived off, in the event of policyholder’s demise before the maturity of the policy.  This rider may be taken by the proposer of Jeevan Kishore Policy (Table no. 102). One needs to pay an additional premium to avail this rider.
  2. Accidental Death Benefit: This riderensures that a lump sum is paid to the nominee of the policy in the event of accidental death of the policy holder. This rider can be availed by the policy holder, 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).

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Written By: PolicyBazaar - Updated: 01 November 2019