LIC Komal Jeevan


The future is tricky to predict. One thing a person can somewhat predict however is the cost of living, especially the rising cost of education. With the growing exposure and needs to
and by the competitive world, the children of today and adults of tomorrow require a safety net to fall in. Child insurance plans let the parents create this safety net while making savings for their children’s future. The Life Insurance Corporation of India, more widely known as LIC, caters to this need of their customers.

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The LIC KomalJeevan plan is a child insurance plan designed by LIC for this purpose.

The LIC Komal Jeevan policy is a money-back plan limited to children. This plan allows for the beneficiary to receive a particular percentage from the amount that has been assured under the child’s name on the occasion of the child reaching specific milestones in their life. This would be carried out in four phases, i.e. when the child turns eighteen, twenty, twenty-two, and twenty-four years old. The accumulated sum of money can be used for providing the child with a safe future. This would help in ensuring that the child will have something on their name that will give them a sense of security and safety. In addition to the amount that has been assured, the plan also calls for guaranteed or pledged additions and loyalty additions, if applicable. Further features and details regarding the plan are discussed in brief in the following sections.


The eligibility criteria of life insurance plans are based on the kind of population they intend to serve. Since the LIC KomalJeevan policy has been designed to benefit the child, the age requirements set by the Corporation are small in number. A brief note of the eligibility criteria of this policy is noted in points below-

Minimum and maximum age required (of the child) at the time of entry-Zero to 10 years old.

Age of the child during the time of maturity-26 years old


Each life insurance plan comes with benefits. Understanding the benefits helps the customer in both comprehending the selected plan better and in comparing plans. This comparison helps the customer in selecting a life insurance plan that is best suitable to them and their needs. The benefits accompanied by the LIC KomalJeevan plan are discussed in brief below-

Tax Benefits*-

Under Section 80C of the Income Tax Act of India, the premiums that have been paid towards a life insurance policy are tax-free. Further, the maturity proceedings of the policy are free from tax under the Section 10 (10D).

*Tax benefit is subject to changes in tax laws. Standard T&C Apply.

Survival Benefits-

The LIC Komal Jeevan plan allows for the child to receive partial survival benefits in the form of installments. These installments will be started once the child turns eighteen years old. To be more specific, the child will be receiving the installment based amount that has been assured in the following phases-

  • When the child turns eighteen, they will be receiving twenty percent of the amount that has been assured.
  • When the child turns twenty, they will be receiving the second installment of the amount that has been assured, which again is twenty percent.
  • When the child turns twenty-two, they will be receiving the third installment of the amount that has been assured, which is thirty percent.
  • When the child turns twenty-four, they will be receiving the fourth and final installment of the amount that has been assured, which again is thirty percent.

Maturity Benefits-

When the policy reaches the maturity period, the child would be receiving the cumulative sum of pledged additions and loyalty additions (if any) along with the sum of money that has been assured.

Death Benefits-

If the child insured passes away due to reasons and circumstances, the insurance provider would give out the amount that has been assured in addition to any accumulated bonuses. If the child passes away prior to the beginning of the period of risk, the insurance provider would then refund the premiums that have been paid. The benefits would be payable to the nominees of the policy.

The period of risk begins after two full years since the start of the policy tenure or from the date of the anniversary of the policy which is instantly followed by the child completing seven years. The period of risk is declared upon whichever occurs later.

Premium Structure

Like several other LIC policies, the LIC Komal Jeevan policy also has various options for the customer to select from when it comes to making a premium payment. The customer can select to pay the premiums monthly, quarterly, half-yearly, or annually. Customers can also select to make a single payment of the premium. Another option provided is that of SSS - Salary Saving Scheme. In this scheme, the premium amount will be deducted from the customer’s salary account directly.

The premiums are required to be paid until the anniversary of the policy which occurs instantly after the insured child turns eighteen or until the unfortunate demise of the child.

Documents Required 

Life insurance plans require specific documents and records from the customers to complete the process. The documents can vary from plan to plan, depending on what the plan deals with and what it needs to fulfill its benefits. The following are few standard documents required for the availing of a life insurance plan-

  • Proof of identity
  • Proof of address
  • Proof of age
  • Passport size photo of the life to be insured
  • Proposal form, as prescribed by the insurance provider

Documents required for raising a maturity claim under the LIC Komal Jeevan policy are listed below-

  • Maturity claim form, as prescribed by the insurance provider
  • Original policy documents
  • Bank details
  • Proof of address
  • Proof of age
  • Proof of identity
  • Other documents as required by the Corporation

Documents required for raising a death claim are listed below-

  • Original policy documents
  • Claim form, as prescribed by the insurance provider
  • Age proof
  • Certificate of death
  • Deeds of assignment or reassignment (if applicable)
  • Medical reports
  • Cremation certificate
  • Other documents as required by the Corporation

The Process to Buy Online

The rise of digital platforms is causing all industries to establish and strengthen their presences online. The insurance sector is no exception. The insurance providers are now offering their services to the customers online. The interfaces are constantly under development to make them more simple and easy to access. The customers can now avail of services like checking the status of their policies, making the payments of premiums and interests, and also purchasing life insurance plans online. The subsequent notes serve as standard steps to perform in order to purchase a life insurance cover online-

  • From the homepage of the insurance provider, browse through and pick a plan that is suitable.
  • After this, select the hyperlink which would land to the purchase page.
  • The process will call the customer to enter in their details. Details can be about general information like name of the customer, their date of birth, age, income, and contact details. Lifestyle questions like the smoking and drinking habits of the customer can also be asked.
  • Once the details are filled in, select a safe payment gateway and purchase the plan.


Every life insurance policy has exclusions. These exclusions can vary from policy to policy. Few standard exclusions of life insurance policies are noted in points below-

  • Death of the insured life due to an act of suicide, regardless of the mental status of the policyholder.
  • Death or injuries caused while participating in any riot or any incident that is against the law of the country.

*For more information about exclusions, please refer to the plan brochure or the policy document.


Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

Standard T&C apply.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.

Average Rating
(Based on 26 Reviews)
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LIC Komal Jeevan Reviews & Ratings

4.6 / 5 (Based on 26 Reviews)
(Showing Newest 25 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.
Badayun, February 16, 2021
Affordable premiums
The term insurance plan which I bought of Lic India is first class and very amazing. I like the plan because it has various features and benefits which makes the plan worthy. Also, the premium rate of the plan is according to my budget and much affordable.
Malpur, November 05, 2020
Beneficial plan
My LIC India term insurance plan is really good and beneficial in nature. They have provided with certain features and my life has been protective to me and my family.
Latur, November 05, 2020
Low premium
I got my term insurance plan of LIC India. It is really easy to attain and my term plan is really good as it has several add on features included into the same. The premium rate of my plan is really affordable in nature.
Dehradun, November 05, 2020
Tax benefits
Somebody into my circle recommended me to get the LIC India term insurance policy. So, I gave it a try and started searching for some plans. Quite easy to check features and benefits of all LIC term plans.
Garhmukteshwar, October 21, 2020
Amazing plans
It is a really good and amazing plan and I took the LIC term insurance plan for the safety and security of my plan needs and wants.I took the plan online and have checked good number of plans of LIC term plan.
Faridabad, October 21, 2020
Best policy
My lic term insurance plan which I bought recently have given me so much of help and satisfaction. It is a good plan with sense of safety and security. Claims are easy to go and basically it is a best plan for your future needs.
Haldwani, October 21, 2020
Good plans
I have got the lic India term insurance. The maturity year is pretty good and I am much happy with my term plan.
Basanti, January 08, 2019
Very Good Plan
Recently I took the Term insurance of LIC and found it too useful. The maturity year is good which 75 years. I feel it is good as it can used by my family after me if by chance some problem may occur. We should always secure our life so it was a good experience and I am getting good benefits too. Thank you.
Buxar, July 20, 2016
Excellent Work
The premium is low but the paybacks are high. Service is fast and because of that the claiming is simple to sanctioned. The lic term plan is suggested by my father and after seeing the terms and conditions i buy it.
Ahmedabad, July 20, 2016
Super Policy
My lic term plan is providing the best services. Policy covers maximum expenditures and good returns. Claims are easy to sanctioned, updates of the plan is mailed to email address. Best investment which reduces taxes.
Uttamnagar, July 19, 2016
Perfect Policy
LIC online term plan is very easy to buy and renewals is also simple. The updates regarding policy can be visit on the website of the insurance company. Service is fast and behaviour of the staff is nice. The investment is less and the returns are high.
Jaipur, July 19, 2016
The lic term insurance plan is fantastic which i have seen comes from ages and providing good policies to the customers. Service is the best no doubt in that, online portal is also easy to access and anyone can operate it easily.
Hyderabad, July 19, 2016
Good Service
I have lic term insurance plan which is very beneficial for me and my family members from last few years. The policy coverage is high and the premium is less. Service is fantastic which is facilitate by the executives and members.
Ahmednagar, March 09, 2016
help me, plane choose
Noida, January 02, 2016
life insurance
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