LIC Jeevan Jyoti Bima Yojana

LIC Jeevan Jyoti Bima is specifically designed for people aged between 18 years to 50 years with a savings bank account and provides the facility to enable mode of auto-debit. This scheme provides a cost-effective and pocket-friendly insurance cover for those in need.

LIC Plans-
Buy LIC policy online hassle free
Tax saving under Sec 80C & 10(10D)^
Guaranteed maturity with life cover for securing family's future
Sovereign guarantee as per Sec 37 of LIC Act
LIC life insurance
We are rated~
6.7 Crore
Registered Consumers
Insurance Partners
3.4 Crore
Policies Sold
Now Available on Policybazaar
Grow wealth through
100% Guaranteed Returns with LIC
We don’t spam
View Plans
Please wait. We Are Processing..
Your personal information is secure with us
Plans available only for people of Indian origin By clicking on ''View Plans'' you, agreed to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs Tax benefit is subject to changes in tax laws
Get Updates on WhatsApp
We are rated~
6.7 Crore
Registered Consumers
Insurance Partners
3.4 Crore
Policies Sold

LIC Jeevan Jyoti Bima Yojana 

LIC Jeevan Jyoti Bima Yojana is a 1-year cover that is renewable every year and offers death cover. It is a life insurance plan launched by the Central Government of India for the welfare of the low-income and the poor sections of society. This plan is available for individuals between 18 years to 50 years of age. 

As mentioned, it is a renewable term plan that offers annual life coverage of Rs. 2 lacs in case of policyholder’s demise, at a low premium rate of Rs. 330 for a year. Let’s discuss the unique features and benefits of the LIC Bima yojana in detail: 

LIC Jeevan Jyoti Bima Yojana - Eligibility Criteria

  • The savings bank account holders of participating banks who come under the age bracket of 18 years to 50 years are eligible to open this account. The policyholders registered under this scheme can enable/join the auto-debit facility according to the modality. 

  • People who joined after the starting enrolment period up to August 31, 2015, or November 30, 2015, are required to provide a self-attested certificate mentioning good health and that he/she does not suffer from any of the mentioned critical illnesses as on the enrolment date. 

Age at Entry  Minimum: 18 years  Maximum: 50 years 
Maturity Age (Maximum) 55 years 
Term of policy  1 year i.e., renewable each year
Sum Assured  Rs. 2 lacs 
Premium  Rs. 330 

LIC Jeevan Jyoti Bima - Features 

  • Coverage - All the account holders aged between 18 years to 50 years in the participating banks are eligible to enroll under the scheme. If an individual has multiple savings accounts in one or different banks, he/she would be entitled to enroll under the scheme through one savings bank account only. Aadhar card would be considered as the primary KYC document for the bank account. 

  • Enrolment Period – The period of enrolment of LIC Bima Yojana is June 1st of every year to May 31st of the subsequent year. At the time of enrolment period, individuals are required to enroll and give their consent of auto-debit. If the policyholder wishes to purchase the plan after June 1st, then he/she is required to pay the amount of premium of each year of policy as a one-time payment from the joining month. 

  • Premium – The LIC Jeevan Jyoti Bima provides coverage towards the policy at a minimum premium price of Rs. 330/ year. This is specifically designed for lower-income sections of society. The premium of the plan remains constant for all the policyholders aged between 18 years to 50 years. 

  • Tax Benefit – The policyholders can get the tax benefit on premium paid towards the LIC Jeevan Jyoti Biman as per the prevailing laws of the Income Tax Act, 1961. 

  • Mode of Premium Payment - The bank allows the auto-debit mode from the savings account of the policyholders. The renewal period of LIC Jeevan Jyoti Bima Yojana is between May 25th to May 31st. The premium amount of the policy renewal is also auto-debited from the policyholder’s account. If a policyholder wants to discontinue the plan, then he/she can submit a cancellation request. 

LIC Jeevan Jyoti Bima Yojana - Benefits 

  • Death Benefit: A death coverage of Rs 2 lakhs will be provided to the beneficiary of the life assured in case of unfortunate death of insured. 

  • Maturity Benefit: This plan does not provide any surrender or maturity benefit 

  • Coverage of Risk: One year of risk coverage is provided under this plan. This is a renewable plan which can be renewed each year. 

Claim Settlement Procedure of LIC Jeevan Jyoti Bima Yojana 

The claim settlement process of LIC Bima Yojana is quite easy and smooth. Here’s a quick laydown: 

  • In case of an untimely demise of the policyholder, the nominee is required to visit the life assured’s bank, from where the individual’s savings account is linked to the plan. The nominee is required to submit the insured’s death certificate. 

  • The beneficiary can take the form from an insurer, or the participating bank.

  • Then the nominee is required to fill the claim application form completely and then submit it along with the requested documents.

  • After submitting the claim form, the bank will validate all the documents. 

  • Then, the bank submits the document to LIC. The documents required are: 

    • Duly filled claim application form 

    • Receipt of discharge 

    • Death certificate 

    • Photocopy of the canceled cheque of the nominee 

  • The insurance company will again verify the documents. 

  • After the successful claim application verification, the claim amount will be transferred to the beneficiary’s bank account.

*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

LIC of India
LIC Plans
LIC Jeevan Utsav
LIC Jeevan Kiran
LIC Dhan Vriddhi
LIC Monthly Investment Plans
LIC Jeevan Azad
LIC 1 Crore Endowment Plans
LIC Jeevan Labh 1 Crore
LIC Crorepati Plan
LIC Dhan Varsha - Plan No. 866
LIC Pension Plus Plan
LIC New Jeevan Shanti
LIC Bima Ratna
LIC Group Plans
LIC Fixed Deposit Monthly Income Plan
LIC Savings Plans
LIC’s New Jeevan Anand
LIC New Jeevan Anand Plan 915
LIC's Saral Jeevan Bima
LIC's Dhan Rekha
LIC Jeevan Labh 836
LIC Child Plans Single Premium
LIC Child Plan Fixed Deposit
LIC Jeevan Akshay VII
LIC Yearly Plan
LIC Bima Jyoti (Plan 860)
LIC’s New Bima Bachat Plan 916
LIC Bachat Plus Plan 861
LIC Policy for Girl Child in India
LIC Samriddhi Plus
LIC New Janaraksha Plan
LIC Nivesh Plus
LIC Policy for Women 2024
LIC Plans for 15 years
LIC Jeevan Shree
LIC Jeevan Chhaya
LIC Jeevan Vriddhi
LIC Jeevan Saathi
LIC Jeevan Rekha
LIC Jeevan Pramukh
LIC Jeevan Dhara
LIC Money Plus
LIC Micro Bachat Policy
LIC Endowment Plus Plan
LIC Endowment Assurance Policy
LIC Bhagya Lakshmi Plan
LIC Bima Diamond
LIC Anmol Jeevan
LIC Bima Shree (Plan No. 948)
LIC Jeevan Saathi Plus
LIC Jeevan Shiromani Plan
LIC Annuity Plans
LIC Jeevan Akshay VII Plan
LIC SIIP Plan (Plan no. 852) 2024
LIC Jeevan Umang Plan
LIC Jeevan Shanti Plan
LIC Online Premium Payment
LIC Jeevan Labh Policy-936
LIC Money Plus Plan
LIC Komal Jeevan Plan
LIC Jeevan Tarang Plan
LIC Bima Bachat Plan
LIC’s New Money Back Plan-25 years
LIC Money Back Plan 20 years
LIC Limited Premium Endowment Plan
LIC Jeevan Rakshak Plan
LIC New Jeevan Anand (Previously LIC Plan 149)
LIC New Endowment Plan
LIC Varishtha Pension Bima Yojana
LIC Investment Plans
LIC Pension Plans
Show More Plans
LIC Calculator
  • One time
  • Monthly
/ Year
Sensex has given 10% return from 2010 - 2020
You invest
You get
View plans
Download the Policybazaar app
to manage all your insurance needs.