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Empower Your Future with LIC’s Jeevan Kiran (Plan 870): A Zero Cost Term Assurance Plan

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Are you in search of a brilliant life insurance plan that combines the security of term assurance with the added benefit of a return of premium at maturity? Look no further! LIC’s Jeevan Kiran Plan (No. 870) is here to illuminate your life with comprehensive coverage and a rewarding feature that sets it apart from traditional plans.

Term plans are crucial for financial security, offering cost-effective life coverage to protect loved ones in case of the policyholder’s untimely demise. They provide a lump sum payout that helps cover debts, maintain living standards, and fulfill life goals, ensuring a stable future for beneficiaries. With term plans, peace of mind comes from knowing that family members are shielded from financial burdens during challenging times, making them an essential component of a well-rounded financial strategy.

Age at entry18 Years65 Years
Age at maturity28 Years80 Years
Policy Term10 Years40 Years
Basic Sum Assured15 LakhNo limit*

Empowering Your Future: Key Benefits of LIC's Jeevan Kiran Plan (No. 870)

In this blog post, we’ll dive into the exciting features and unparalleled advantages of LIC’s Jeevan Kiran Plan, a carefully crafted life insurance policy designed to meet the evolving needs of modern individuals and families. Whether you’re just starting your journey towards financial planning or looking to enhance your existing insurance portfolio, Jeevan Kiran has something special for everyone.

Maturity Benefits

The maturity benefit of LIC’s Jeevan Kiran Plan (No. 870) rewards the policyholder with the total premium paid, excluding taxes and rider premium, if any, upon surviving the date of maturity. This ensures complete financial security and acknowledges the policyholder’s commitment to the plan, allowing them to utilize the accumulated amount for their long-term aspirations or further investment opportunities.

Death Benefit

The death benefit of LIC’s Jeevan Kiran Plan (No. 870) ensures financial protection for beneficiaries in case of the policyholder’s untimely demise, encompassing both regular premium and single premium policies.

For regular premium policies, the sum assured on death is calculated as the higher of 7 times the annual premium, 105% of total premiums paid up to the date of death, or the basic sum assured. Meanwhile, for single premium policies, the sum assured on death is the higher of 125% of the single premium or the basic sum assured. This guarantees a significant payout to support beneficiaries during challenging times, covering immediate expenses and maintaining their financial stability. Jeevan Kiran Plan provides assurance and peace of mind, knowing that loved ones will be well taken care of in the face of uncertainties.

Enhancing Your Protection: Comprehensive Rider Benefits of Jeevan Kiran Plan

The rider benefits of an insurance plan provide additional and specialized coverage, enhancing the policy’s overall protection to suit individual needs and circumstances.

Accidental Death and Disability Benefit Rider

The accidental death and disability rider of LIC’s Jeevan Kiran Plan (No. 870) offers an additional layer of financial security to policyholders and their families. In the unfortunate event of the policyholder’s death due to an accident, an amount equal to the accidental benefit sum assured is provided as a payout, ensuring that the family’s immediate financial needs are met during such a difficult time.

However, it is important to note that in case of permanent disability resulting from an accident, the rider provides an amount equal to the accident benefit sum assured,  in equal monthly instalments spread over a period of 10 years.

This crucial rider ensures that the policyholder and their loved ones are protected against the unforeseen consequences of accidents, providing a sense of relief and stability during challenging circumstances.


Accidental Death Benefit rider

The accidental death benefit rider, an optional add-on to LIC’s Jeevan Kiran Plan (No. 870), ensures an extra payout equal to the accidental death sum assured in case of accidental death, enhancing the policyholder’s coverage and offering additional financial security to their family.

Maximize Your Benefits: High Sum Assured Rebates of Jeevan Kiran Plan (No. 870)

High Sum Assured Rebate - Jeevan Kiran Regular Premium Plan
Age BandHigh Basic sum assured rebate as a % of Tabular premium for different Basic Sum Assured
Less than 50 lakhs50 lakhs to less than 1 crore1 Crore to less than 2 crore2 crore to less than 5 croreRs 5 crore and above
up to 30 YearsNil24%32%43%50%
31 to 50 YearsNil12%17%25%30%
51 Years and aboveNil9%13%18%20%
High Sum Assured Rebate - Jeevan Kiran Single Premium Plan
Up to 30 YearsNil20%28%35%40%
31 to 50 YearsNil10%15%20%24%
51 years and aboveNil8%12%15%18%
Jeevan Kiran - 870 High sum assured rebate

Based on the provided table on “High Sum Assured Rebates – Jeevan Kiran Plan (No. 870),” we can draw the following conclusions:

  1. Rebate Structure: The table presents the high sum assured rebates available for both the Regular Premium and Single Premium plans, categorized by different age bands.

  2. Age Band Classification: The age bands are divided into three categories: “Up to 30 Years,” “31 to 50 Years,” and “51 years and above.”

  3. Regular Premium Plan: Under the Regular Premium plan, policyholders below 50 years of age can avail of high sum assured rebates ranging from 24% to 50% based on their chosen basic sum assured. For individuals between 51 years and above, the rebates range from 9% to 20%.

  4. Single Premium Plan: For the Single Premium plan, individuals up to 30 years old can receive high sum assured rebates from 20% to 40%. Policyholders between 31 to 50 years old are eligible for rebates ranging from 10% to 24%. Those aged 51 years and above can avail of rebates ranging from 8% to 18%.

  5. Rebate Calculation: The high sum assured rebates are provided as a percentage of the tabular premium for various basic sum assured amounts. The higher the basic sum assured, the higher the potential rebate percentage.

  6. Age and Rebate Relationship: Generally, younger policyholders tend to receive higher rebates, encouraging individuals to opt for higher sum assured levels at younger ages.

Overall, the table showcases the advantageous high sum assured rebates available under Jeevan Kiran Plan, incentivizing policyholders to secure comprehensive coverage and plan for a financially stable future. It also emphasizes the importance of considering age and coverage level when choosing the most suitable insurance plan.

In conclusion, LIC’s Jeevan Kiran Plan (No. 870) emerges as a beacon of financial security, catering to the diverse needs of individuals and families alike. With its flexible premium options, policy terms, and substantial life coverage, the plan paves the way for a stable and prosperous future.

The unique maturity benefit, which returns the total premium paid (excluding taxes and rider premiums) upon survival, reaffirms LIC’s commitment to rewarding policyholders’ dedication.

Furthermore, the optional accidental death and disability rider offers an added layer of protection, providing crucial financial support in the face of unforeseen accidents. Additionally, the high sum assured rebates encourage policyholders to opt for comprehensive coverage, aligning perfectly with their age and insurance needs. By offering the freedom to tailor the plan to individual requirements, Jeevan Kiran stands out as a top choice for creating a robust financial safety net.

Embrace LIC’s Jeevan Kiran Plan today and embark on a journey towards securing a brighter and more prosperous tomorrow for yourself and your loved ones.

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.