LIC Komal Jeevan Plan

LIC Komal Jeevan is no longer sold by the LIC of India. It was originally designed as a child insurance plan to help parents create a safety net while also saving for their children’s future. Its money-back nature made sure to finance key milestones of a child's life with survival benefits. 

Read more
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

Introduction to LIC Komal Jeevan Plan

The LIC Komal Jeevan policy offered specific portions from the assured amount on the occasion of the child turning 18, 20, 22, and 24 years of age. These are some of the most important years in a child’s education, often involving huge costs. The proceeds from the LIC Jeevan Komal Plan helped parents fund their kids’ tuition fees, accommodation, other interests, etc. during this period.

Moreover, the final amount on the life assured’s death comes with additional payments in the form of guaranteed and loyalty additions. This increases the total benefit amount from the original sum assured.

  1. Key Features of LIC Komal Jeevan Plan

    • The LIC Komal Jeevan maturity amount is comprised of guaranteed additions and loyalty additions.

    • Death of the child is covered only after completing 2 policy years or after the child turns 18, whichever is later.

    • The policy can be surrendered after completing 3 years, following which a higher of the guaranteed surrender value or special surrender value is paid to the insured.

    • This child education plan could only be bought for children in the age group of 0 to 10 years.

    • The premium for the policy can be paid in a lump sum or regular monthly, quarterly, half-yearly, or yearly installments.

    • If the premium paying parent dies, the premium waiver rider ensured that all the remaining premiums were waived off by LIC. Extra premium is charged for this rider benefit.

  2. Eligibility Conditions for LIC Jeevan Komal Plan

    Criteria Minimum Maximum
    Entry Age of Child 0 10 years
    Maturity Age of Child NA 26 years
    Policy Term 18 years – Entry Age of Child
    Premium Payment Single or Regular
    Sum Assured Rs. 1 Lakh Rs. 25 Lakhs

    Only if these conditions are met can one claim the benefits offered by this LIC child plan.

What are the benefits offered by LIC Komal Jeevan Plan?

  1. Survival Benefits

    The LIC Komal Jeevan plan allows for the child to receive survival benefits when they reach a certain age within the policy term.

    • At the age of 18, the child receives 20% of the sum assured.

    • At the age of 20, the child receives 20% of the sum assured.

    • At the age of 22, the child receives 30% of the sum assured.

    • At the age of 24, the child receives 30% of the sum assured.

  2. Maturity Benefits

    LIC offers the accumulated guaranteed addition and the terminal loyalty addition as maturity benefits. This LIC Komal Jeevan maturity amount is paid to the child only if he/she survives the whole tenure of the policy.

  3. Death Benefits

    If the child insured passes away during the policy term, LIC is liable to give out the sum assured along with the loyalty addition & the accumulated guaranteed additions. Note that the life cover starts only after completing 2 years of the policy or when the child turns 8, whichever comes later.

  4. Additions to the Basic Sum Assured

    The LIC Komal Jeevan maturity amount & the death benefit come with extra returns. These are:

    • Guaranteed Additions – It accrues every year at Rs.75 per Rs.1000 of the sum assured.

    • Loyalty Additions – This is a one-time bonus added to the final benefit amount. It is equal to a percentage of the profits earned by LIC in a year.

  5. 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 proceeds of the policy are free from tax under Section 10(10D).

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

Premium Structure of LIC Komal Jeevan Plan

  • Customers of the LIC Komal Jeevan policy can pay premiums monthly, quarterly, half-yearly, or annually.

  • They can also make a single payment of the premium.

  • Another option provided is that of the 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 child turns eighteen or until the unfortunate demise of the child.

Documents Required to buy LIC Komal Jeevan Plan

The following are a few standard documents required to avail of a life insurance plan from LIC-

  • 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 Claims

  1. Maturity Claims

    • 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

  2. Death Claims

    • 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

LIC Komal Jeevan Exclusions

Few standard exclusions of life insurance policies are -

  • Death of the insured life due to an act of suicide

  • Death or injuries caused while participating in any riot or any incident that is against the law of the country

It is advisable to read the policy instructions and manuals carefully before purchasing a plan. One should also use LIC premium and maturity calculators before purchase as this gives them an idea about the total cost and final benefit amounts of a policy.

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

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

“Tax benefit is subject to changes in tax laws. Standard T&C apply.”

*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 Jeevan Jyoti Bima Yojana
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

LIC of India articles

Recent Articles
Popular Articles
LIC Jeevan Utsav vs LIC Jeevan Umang

07 Jun 2024

LIC Jeevan Utsav and LIC Jeevan Umang are two popular insurance
Read more
Review of LIC Index Plus

07 Jun 2024

I recently bought LIC's Index Plus plan, which has provided me
Read more
LIC Versus PPF

05 Jun 2024

When it comes to financial planning in India, two of the most
Read more
LIC Amritbaal Premium Calculator

29 Mar 2024

LIC Amritbaal Premium and Maturity Calculator is an online tool
Read more
LIC New Endowment Plan Maturity and Premium Calculator

04 Mar 2024

LIC's New Endowment Plan premium and maturity calculator allows
Read more
10 Best LIC Plans to Invest in 2024
Since 1956, LIC of India has offered several policies that combine insurance protection with wealth accumulation
Read more
LIC Online Premium Payment
The LIC Online Payment by Policybazaar enables policyholders to pay their insurance premiums online at their
Read more
How to Check the Maturity Amount of LIC Policies?
The LIC maturity value is the amount payable to the policyholder upon the completion of the policy term. LIC
Read more

Download the Policybazaar app
to manage all your insurance needs.