LIC Jeevan Rekha

LIC Jeevan Rekha is another beneficial plan by the Life Insurance Corporation. This plan offers protection in terms of financial security at the time of the demise of the policyholder. It has a regular flow of survival benefits that commence at every fifth year of the policy tenure. The maximum term for making premium payments under this policy is seventy years. This policy also offers a rider benefit, along with its other benefits, in the form of Accident Benefit (see below).  

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To reiterate, the plan provides returns that are regular during the term of the plan and allows the provision for an insurance cover that lasts for a lifetime.

Eligibility Criteria of LIC Jeevan Rekha Plan

All the residents of India are eligible to apply for the LIC Jeevan Rekha plan, starting from teenagers to older people in their sixties. This policy is one of the few to which the age range starts at a relatively young age; right after the child completes their pre-teen years. The minimum and maximum age required at the entry time is detailed below-

Minimum Entry age -13 years 

Maximum Entry age -65 years 

Benefits of the Plan

Like every insurance plan offered by LIC, the LIC Jeevan Rekha plan has its benefits to offer to the policyholders. To avail of the benefits, one is advised to follow the terms and conditions of the policy. Below are brief notes regarding such benefits -

  1. Survival Benefits-

    In case the insured lives longer than the tenure of the policy, 10% of the assured sum amount will be paid to the policyholder. The initial payment of this percentage will begin after five years of the policy term commencement.

  2. Death Benefits-

    If the policyholder dies, the insured's nominated members of family or acquaintances will be receiving an assured amount that is guaranteed along with the accumulated vested bonuses.

  3. Accident Benefits/ Rider Benefits-

    In case of the death of the policyholder because of an accident, the policy nominees can get an amount up to Rs. 10 lakhs, depending on the policy terms and conditions.

The LIC Jeevan Rekha policy offers an extra benefit in the form of rider benefits. However, this is an optional benefit. If the customer wants to choose this benefit option, he/she can do so at the time of buying the policy. This benefit can be added to the customer's policy for availing of supplementary protection. The customer needs to make an additional payment of premium to get these benefits.

The Premium Structure of the Plan

Like several other LIC policies, the LIC Jeevan Rekha policy allows the customers to make their payments of premiums in different modes. The modes of premium payment available are - annual payments, half-yearly payments, quarterly payments, and monthly payments.

The customer can also select payment of the premium amount by the Single-Pay method.

The terms for making premium payments can be selected by the policyholder. The terms vary based on multiples of five, i.e., the terms can range anywhere between five, ten, fifteen, twenty, twenty-five, to a lifetime.

Premium details vary as per the selected plan.

Documents Required

A set of standard documents are required while one purchases any insurance plan. Having proper and authentic documents helps in facilitating the process of availing of the selected insurance plan. The documents can vary according to the policy selected and its necessities. The following are the general documents needed to secure a policy from LIC -

  • Passport size photocopy of the potential policyholder

  • Age proof

  • Address proof

  • Proof of identity

  • Educational proof (certificate of the highest education of the policyholder)

The Process to Buy Online

Several insurance providers are facilitating their customers and policyholders to purchase insurance plans online, from the comfort of one's own home. Existing customers can check their policy status online and can download their policy online. Policyholders are also allowed to make premiums online through the insurance provider's website. Customers for LIC can easily go to the LIC website and choose the desired insurance product. The following are few standard steps involved in purchasing an insurance plan online-

Step 1: On the insurer's website, in this case, LIC, one can browse through the available plans and select a suitable plan.

Step 2: After reading the terms, conditions, and understanding the premiums required, please select the option for purchasing the plan or buying it online.

Step 3: Enter the details required. Details can entail both personal and lifestyle information. Personal details include age, gender, name, date of birth, income (monthly or annually), and contact information. Lifestyle details include information regarding the drinking and smoking habits of the policyholder.

Step 4: After entering in the details, complete the purchase procedure by making the payment through a debit card, credit card, or through other safe payment gateways offered by the company’s website.

Key Exclusions of LIC Jeevan Rekha

Every insurance plan has its exclusions, terms, and conditions. The exclusions can vary from plan to plan, based on the requirements and demands of the life insurance policy selected. Few general exclusions of a life insurance policy are noted below-

  • Death by suicide, regardless of the policyholder’s state of mind

  • Death caused by incidents like riots or deaths caused because of participating in extreme sports.


  • Q1. What is the minimum assured amount under this plan?

    A1. The minimum sum assured amount required under this plan is two lakh rupees.
  • Q2. Will there be any bonuses available if I buy the LIC Jeevan Rekha plan?

    A2. The LIC Jeevan Rekha plan is a "with-profit" plan. That is, the policy is allowed to enjoy participation in the profits of the Life Insurance Corporation (LIC) business. This profit sharing is given in the form of bonuses. For every thousand rupees of the amount that has been assured by the policyholder, simple reversionary bonuses are declared. This declaration happens annually, i.e., in every fiscal year. Once the bonuses have been declared, they become a part of the plan's guaranteed benefits. If the policy has been in term for a specific period, a Final (Additional) Bonus might be payable to the concerned.
  • Q3. What is the Guaranteed Surrender Value of the LIC Jeevan Rekha policy?

    A3. The policy can be surrendered to the Corporation after a minimum of three years of the policy tenure since its commencement. This will garner a guaranteed surrender value of 30 percent on the policy's premiums paid after excluding the premiums paid in the first year of the policy's term. For customers who chose to make a single payment of the premium, the guaranteed surrender value is 90 percent of the single amount of premium paid. The Corporation can sometimes pay an exceptional guaranteed surrender value that is either in equivalence with the primary guaranteed surrender value or more than it. The customer has to note that the insurance company revises its terms and conditions from time to time, based on the economic scenario and other relevant factors.
  • Q4. Is the single premium payment for the LIC Jeevan Rekha policy tax-free?

    A4. No, the single premium payment for this policy is not tax-free. Tax will be levied and this will depend on the tax bracket that the policyholder belongs to.
  • Q5. What is the minimum sum assured amount under the LIC Jeevan Rekha policy assures?

    A5. There is no limit for the amount to be assured under this policy.
  • Q6. What will happen if the LIC Jeevan Rekha policy is terminated early?

    A6. In cases of early policy termination, the guaranteed surrender value might be lesser than all the premiums paid until the termination period.
  • Q7. Can one avail of a loan under the LIC Jeevan Rekha plan?

    A7. Yes, the policyholder can avail of a loan under this policy. The loan and interest rate are subject to the insurance provider's revisions from time to time and the respective terms and conditions.
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 26 Reviews)

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LIC Jeevan Rekha Reviews & Ratings

4.6 / 5 (Based on 26 Reviews)
(Showing Newest 10 reviews)
Chalakudy, April 16, 2021
Easy claim settled
I bought the Lic India term plan from the suggestion of my family friend and he recommended me a lot of plans. He said that the claim settlement ratio is quick and easy. Also, it is protective plan.
Asifabad, April 14, 2021
Additional riders
Along with my Lic India term insurance plan I have got the additional riders too. It has been an important thing for me and can be useful at any point in time. It can be added with a minimal amount.
Lakhimpur Kheri, April 13, 2021
Tax rebate
I bought a Lic India term insurance policy online and it has been into my budget. Also, I like one thing that I would able to get the tax benefits under it. It is a good option and can be beneficial for all tax payers.
Raghunathpur, April 09, 2021
Happy customers
I am one of the happiest customer of Lic India term plan and I have found various good deals. It is the plan which has come under my budget. And it has been a protective shield for me and my family.
Agra, April 07, 2021
Good plan
I like my Lic India term plan from the online market and I found the solace in this plan. It is a good thing to support yourself by getting the best term plan so secure the life.
Babina, March 23, 2021
Additional riders and benefits
It is a good idea for everyone to buy a LIC term plan as I have got the additional riders too under the same. The plan is very nice and much helpful.
Anantnag, March 22, 2021
Tax benefits
With this LIC term insurance plan I received a tax rebate and tax benefits. I found it much better as compared to other plans and it’s a kind of coverage and investment for me. I am totally happy with this plan and found it worthy.
Mawana, March 16, 2021
Secure your family
I have secured my family by buying a LIC term insurance plan. It is a long term plan with a lot of benefits under the same. At-least I will be satisfied that my family will safe and financially secured after I am not around. It’s a great plan under my budget.
Baleshwar, March 02, 2021
Premium payment is easy
It’s really easy to pay for the premium amount of my lic India term plan. Also, I pay it online because it is transparent in nature. I bought this plan like about 4 years back and continuing it for its safety purposes.
Bablabona, February 22, 2021
Sufficient plan
I have recently bought a lic India term insurance plan and it has been a wonderful plan for me and my family. A sufficient plan for the safety and security of my family. It has given me few benefits too which makes the plan a wonderful.
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