The plan has been withdrawn from LIC’s product portfolio and is no longer for sale. LIC Jeevan Chhaya is a money-back endowment based plan that offers a fixed percentage of the sum assured as returns, irrespective of the survival of the life assured. Furthermore, it offers the death benefit if the policyholder passes away during the policy term.Read more
LIC Jeevan Chhaya was designed to offer monetary benefit in the form of the death beenfit and regular returns for the last 4 years of the policy. The entitled returns shall be equal to one-fourth of the basic sum assured and is payable whether the policyholder lives or dies. This benefit is in addition to the sum assured on death that is guaranteed to the policyholder’s family, provided that the policy is in force and due premiums have been paid. The premiums against the policy is can be paid monthly, quarterly, half-yearly, or yearly.
The entitled benefits can be calculated prior to purchase using the LIC Jeevan Chhaya Plan 103 Maturity Calculator. Let’s understand this tool in more detail.
This is an online tool that can be used to calculate the maturity benefits offered by the plan. The tool can be tweaked until you reach your desired coverage against the premiums that fit your budget. Given that every user has a unique way towards financial decision making, the tool ensures that every user gets a personalized approach. It can be accessed at LIC’s official platforms, including its website and the mobile application, which indicates the reliability of the tool.
The tool offers accurate results as per the inputs of each user which guarantees a personalized approach as per one’s needs.
Riders can be opted for with this plan and the maturity calculator will reflect the change in the benefit amount and the respective premiums if one is chosen.
The tool takes into consideration the age of the policyholder, the policy term, sum assured on maturity and death, premium payment options to offer the most accurate estimates.
The tool also eliminates any miscommunication that could happen while talking to an agent.
The results are instant and the tool can be accessed from the comfort of your home.
If you feel like the maturity benefit or returns are not as per your expectations, you have the option to tweak the inputs to arrive at your desired coverage.
Now withdrawn, the plan was designed to offer combined benefits of savings as well as protection. While using the LIC Jeevan Chhaya maturity calculator, it is important to know the eligibility criteria to fill the data correctly. The following table highlights the eligibility criteria of LIC Jeevan Chhaya.
|Maximum Maturity Age
|Premium Paying Mode
|Monthly, quarterly, half-yearly, or yearly
Visit the official website of LIC. Alternatively, you can download the LIC mobile application.
Under its online portal, choose Premium Calculator.
From the listed plans, choose the one for which you need the calculation to be done.
Fill in the requested details per your requirement. Keep in mind the eligibility criteria discussed above.
The tool will display the maturity benefit and the premiums payable against it.
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*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
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