LIC Jan Suraksha Policy

Read on to know more about the new LIC Jan Suraksha Policy in detail:

About LIC Jan Suraksha- An Overview

LIC Jan Suraksha is a Micro Insurance plan launched on October 15th, 2025 by LIC of India that combines the benefits of life protection with savings. In case of the policyholder’s unfortunate death during the policy term, financial support is extended to the family. If the policyholder survives the term, a lump sum maturity amount is payable. The plan is designed with a loan facility to support liquidity needs and provides Guaranteed Additions at the end of every policy year from policy start till maturity. It is a non-participating, non-linked plan, which means all benefits are fixed and not influenced by LIC's profits or surplus.

Premiums are payable under a limited premium paying term, making it accessible and cost-effective. The plan is available offline through agents and authorized intermediaries as well as directly online through the LIC website.

Key Features of LIC Jan Suraksha Policy

• A limited premium payment option is available for financial ease.

• Auto cover after three full years of premium payment.

• Loan can be availed after one full year’s premium payment and completion of the first policy year.

• The premium payment modes are yearly, half-yearly, monthly and quarterly. 

• Guaranteed Additions from the inception till the end of the policy term 

Eligibility Criteria of LIC Jan Suraksha (Plan no. 880)

Benefits of LIC Jan Suraksha Policy

1. Death Benefit

   In the event of the death of the policyholder during the term (with all premiums duly paid), the beneficiary will receive:

   • Sum Assured on Death plus

   • Accrued Guaranteed Additions

   Where “Sum Assured on Death” is the higher of:

   • 7 times the Annualised Premium, or

   • Basic Sum Assured.

   The minimum death benefit shall not be less than 105% of total premiums paid (excluding taxes, rider premiums, and any extra loading).

2. Maturity Benefit

   If the policyholder survives the policy term and all premiums are paid, the maturity benefit includes:

   • Sum Assured on Maturity, equal to the Basic Sum Assured

   • Plus, Accrued Guaranteed Additions

3. Guaranteed Additions

   Under an active policy, Guaranteed Additions grow at 4% of the total yearly premium at the end of every policy year. This rate can increase with extra incentives based on the Basic Sum Assured and whether the policy is bought online or offline.

   If the policyholder passes away during the policy term, the Guaranteed Additions for the full year are still paid. These additions also continue even if the policy becomes paid-up (reduced benefit policy).

Riders Available with LIC Jan Suraksha Plan 

Policyholders may choose one of the following riders for enhanced protection:

 LIC’s Accidental Death & Disability Benefit Rider

You can add this rider to your active policy anytime during the premium-paying term, as long as at least 5 years of premiums are still left.

•  If death happens due to an accident (within 180 days):
  The Accident Benefit Sum Assured will be paid in one lump sum.

• If accidental disability occurs (within 180 days):
  The same amount will be paid in monthly instalments over 10 years.
  Also, all future premiums for this rider and the equivalent portion of the base policy will be waived.

LIC’s Accident Benefit Rider

• In case of accidental death (within 180 days), the Accident Benefit Sum Assured is paid as a lump sum.

Note: Riders are not available if the policy is purchased offline.

Sample Illustration of LIC Jan Suraksha Policy

Here are some sample yearly premiums (excluding applicable taxes) for a policy with a Basic Sum Assured of ₹1,00,000, when purchased through Agents or Intermediaries:

You can calculate the premium amounts for LIC Jan Suraksha and understand the policy structure and payout options better using the standard LIC Calculator available on their official website. 

LIC Jan Suraksha Policy Details

1. Grace Period

   A grace period of 30 days for yearly, half-yearly, or quarterly premiums and 15 days for monthly premiums is provided in the policy to pay missed premium payments. During this time, the policy remains in force. If not paid, the policy lapses.

2. Free Look Period

   The policy can be returned within 30 days if the terms are unsatisfactory. Premiums are refunded after deductions for risk cover and stamp duty.

3. Incentives

   High Basic Sum Assured:

   • ₹2,00,000 Basic Sum Assured earns 0.25% additional Guaranteed Additions.

   Online Sale:

   • Online purchases (without agent/intermediary) earn an extra 1% Guaranteed Addition on total annualized premium.

4. Loan Facility

   The policy is eligible for a loan after one full policy year and premium payment. The maximum loan amount is :

   • 80% of surrender value (in-force policies)

   • 70% (paid-up policies)

   The loan Interest rate is 9.50% p.a. (for 2025–2026), compounding half-yearly

5. Waiting Period

    In case the Plan is purchased through Point of Sales Persons-Life Insurance (POSP-LI) or CPSC-SPV on death of the Life Assured within the first 90 days from the date of commencement of risk, the Corporation shall refund the total premiums paid, provided the policy is in-force and death is not on account of an accident. However, in case of death due to accident during waiting period Death Benefit will be paid as usual. 

6. Surrender

   Policy surrender is possible after 1 full year of premium payment, however, the Guaranteed Surrender Value (GSV) will be acquired after 2 years of premium payment. 

7. Revival

   Policy can be revived within 5 years of first unpaid premium by paying dues with interest and fulfilling insurability requirements. Revival of riders only possible with base plan.

8. Paid-up Policy

   • After 1 full premium, policy can become paid-up.

   • Benefits reduced proportionally.

   • Auto cover applies if 3 or more premiums are paid.

9. Incentives

   • 0.25% extra Guaranteed Additions for ₹2,00,000 Basic Sum Assured

   • 1% extra for online purchases

Exclusions of LIC Jan Suraksha Policy

Any kind of payout is not given in case of suicide as follows:

• If suicide occurs within 12 months from risk commencement, 80% of premiums paid (excluding taxes and extra premium) is refunded.

• If suicide occurs within 12 months of policy revival: Higher of 80% of premiums or surrender value is paid.

• No benefits under lapsed policies or during auto cover period for suicide.

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