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LIC Komal Jeevan Plan

As your child grows up, you tend to get more and more worried thinking about its future. Have you ever tried to understand the reason behind it?

A number of things come to your mind when you start speculating on the factors that cause your worries concerning your child’s future. But the most important concern that almost all parents have is about the financial security of their child. 

Future financial security is indeed a matter of great concern among middle-class Indian parents. This concern stems not only from the thought of an uncertain future lying ahead, but also the skyrocketing cost of education has a major contribution to it. 

Here, we will show you how investing in a child insurance plan can help you secure your child’s future financially.

LIC’s Komal Jeevan Plan is a child insurance plan that offers guaranteed money back facility. As soon as your child turns 18 years, the insurer pays back the premiums periodically, to the beneficiary, in every two years.  In the unfortunate event of the child’s death during the policy tenure, the sum assured along with the guaranteed additions are paid out and the policy terminates.

The following are the key features of this LIC Child Plan .

  • No medical Examination is required to avail this policy.
  • Either the parent(s) or the grandparent(s) of the child can purchase this policy.
  • Guaranteed Terminal Bonus is payable on maturity or on death.
  • A guaranteed sum of Rs. 75 per thousand Sum Assured is added at the end of each policy year.
  • A premium waiver rider can be taken additionally with this plan.
  • Term Rider is also available with this plan.
    • After the completion of the 2nd policy year or from the 7th birthday of the child (whichever is later), risk starts to commence.
    • The policyholder has to pay premiums regularly till the child is 17 years old.

LIC’s Komal Jeevan - Benefits

Maturity benefit:  On the maturity of the policy, both guaranteed additions and loyalty additions are paid out along with the lump sum assured.

Death Benefit: On the unfortunate demise of the life insured, the insurer pays out the sum assured as the death benefit along with the accrued additional bonuses. However, if the death occurs before the commencement of the risk, only the basic premiums are paid back to the nominee.

Survival Benefit:  As soon as your child attains 18 years, he/she starts receiving the survival benefits from the insurer. 

  • At the age of 18 years, the child receives 20% of the sum assured.
  • At the age of 20 years, the child receives 20% of the sum assured.
  • At the age of 22 years, the child receives 30% of the sum assured.
  • At the age of 24 years, the child receives 30% of the sum assured.

Income Tax Benefit – Under sections 80C and 10(10D) of the Income Tax Act, you are eligible to enjoy income tax benefits on the premiums you pay and the maturity proceeds respectively.

LIC Komal Jeevan Policy - Eligibility Criteria




Child’s Age at Entry


10 years

Child’s age at maturity


26 years

Premium Paying Term


18 years

Payment frequencies

Single pay/ Yearly, half yearly,  Quarterly, Monthly

Policy Term

18 years minus child's age at entry

Sum Assured

Rs. 1,00,000/-



LIC Komal Jeevan Life Insurance Policy is a great plan to invest in for a brighter future of your child. Unfortunately, this plan has been recently withdrawn. However, the popularity of the policy makes it worth mentioning. It was one of the top selling policies from LIC.

If you have got any questions about LIC Komal Jeevan, feel free to leave a comment. We will be very happy to answer all your queries.

You may also like to read: How to Check LIC Policy Status, Details, Statement via Online/SMS/Call

Written By: PolicyBazaar - Updated: 01 November 2019