Withdrawn plansLIC of India

Jeevan Surabhi – 106 107 108 -Details with Calculators

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LIC Jeevan Surabhi -106, 107, 108 -All details with premium, Insurance Coverage, and Maturity benefit Calculators. Jeevan Surabhi is a popular money back plan from LIC of India. This plan is offered in three versions with 15-year, 20-Year, and 25-Year terms and corresponding premium paying terms of 12, 15 and 18 Years.

Jeevan Surabhi is a withdrawn plan and is no more available for sale. Here at InsuranceFunda, we are getting a lot of queries regarding the benefits of the plan. Let us have a detailed review of the plan.

Jeevan Surabhi (106, 107, 108) – Basic conditions

Jeevan Surabhi – Plan Details
Plan No:106107108
Term of the plan15 Years20 Years25 Years
Premium Paying Term12 Years15 Years18 Years
Jeevan Surabhi – Survival Benefits and Maturity Benefit
4th Year30 % of Sum Assured25% of Sum Assured20% of Sum Assured
8th Year30% of Sum Assured25% of Sum Assured20% of Sum Assured
12th Year40% of Sum Assured25% of Sum Assured20% of Sum Assured
15th YearBonus + Final Addition Bonus(if any)25% of Sum Assured20% of Sum Assured
18th Year20% of Sum Assured
20th YearBonus + Final Addition Bonus
25th YearBonus + Final Addition Bonus

Salient features of the plan

  • Limited premium money back plan where the entire Sum Assured is paid as Survival Benefits which is also called as ‘money back’ amount.
  • Entire Sum Assured/Money Back is paid within the premium paying term.
  • Bonus and Final Addition Bonus (If any) shall be paid as the maturity amount and is paid at the end of the term of the policy.
  • The plan provides automatic and free increasing risk coverage (Explained in detail later in the post)
  • Loan shall be available after the payment of three full-year premium and completion of three full years.

Increasing risk coverage -What does it mean?

Jeevan Surabhi is having inbuilt special provision to increase the death sum assured by 50% in every five years. This provision is helpful in getting an increased death coverage at a higher age without any increase in premium.

Plan – Term -PPT106-15-12107-20-15108-25-18
0-5 YearsSum Assured + BonusSum Assured + Bonus Sum Assured + Bonus
5-10 Years (Sum Assured * 1.5) + Bonus (Sum Assured * 1.5)+Bonus(Sum Assured * 1.5) + Bonus
10-15 Years (Sum Assured * 2)+ Bonus (Sum Assured * 2) + Bonus(Sum Assured * 2)+Bonus
15-20 Years (Sum Assured * 2.5) + Bonus (Sum Assured * 2.5) + Bonus
20-25 Years (Sum Assured * 3)+ Bonus

106-15,107-20,108-25 – Types of bonuses available

All the Jeevan Surabhi versions – 15 year (Plan 106), 20 year (Plan 107) and 25 year (Plan 108) – are with profit plans and LIC shares its profit to the policyholders in the form of bonuses declared for the plan from time to time. Two types of bonuses available in the plan are,

  1. Simple Reversionary Bonus – Declared every year and added to the policy as and when it is declared.
  2. Final Addition Bonus – One-time bonus, declared at the year of exit of the policy which shall be paid at the time of exit by way of maturity or death.

Jeevan Surabhi – Latest bonus rates.

Jeevan Surabhi – Latest Bonus Rates
Plan (Term-PPT)Bonus Rates 2016 ValuationBonus Rates 2017 ValuationBonus Rates 2018 Valuation
106 (15 – 12)343434
107 ( 20 – 15)414141
108 ( 25 – 18)505050

LIC declares bonus rates for all its plans every year. Read all the details of bonus rates declared for the financial year 2018-19.

Jeevan Surabhi (106, 107, 108) Latest Final Addition Bonus Rates

Jeevan Surabhi – Final Addition Bonus Rates (per 1000 SA)
Policy term for maturity and duration elapsed for death claimsAmount of Final Addition Bonus per 1000 SA
up to 2500025,001 to 50,00050,001 to 1,99,9992,00,000 and above
Below 150000

Jeevan Surabhi – Premium and Benefits calculator.

Jeevan Surabhi – online calculator is intended to help you in understanding all the benefits of the plan by applying your own details. You can customize the presentations by selecting the term of the plan and proving age and required sum assured. An option is provided to apply rider benefits such as double accident benefit also.

If you are unable to view the calculator here, Click here to open the non-amp version of this post.

Premium Vs Age

Let us have a look at the variation of premium with the increase in age for Jeevan Surabhi plan.

Jeevan Surabhi 106 107 108 Premium vs age

Sample Benefit Illustration for Jeevan Surabhi Plan

In order to understand the plan better let us consider a sample illustration of the plan. The details considered for the plan is as given in the table below.

Term of the plan25 YearsPremium Paying Term18 Years
Age of the person30 YearsSum Assured considered10 lakh
Jeevan Surabhi 108 25 Year plan sample benefit illustration.
Sample Benefit Illustration as per current bonus rates

You can understand the premium, normal and Accidental Insurance coverage, Survival benefits, expected maturity benefits as per the current bonus rates etc. are provided in this sample benefit illustration.

You can download the sample benefit illustration for Jeevan Surabhi plans 106,107 and 108 from the links provided below.

Anish L J

Anish L J is a 'Financial Planner' and member of Chartered Insurance Institute(CII), London and Insurance Institute of India. He is also a finance, insurance and software consultant. He thoroughly follows the developments in finance, insurance, and other related sectors.