Insurance PlansEndowment Assurance PlansLIC of India

LIC Jeevan Rakshak (Plan 827) – Details with Premium and Benefit Calculators

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Jeevan Rakshak (Plan 827) is a regular premium paying Endowment Assurance plan from LIC of India. Jeevan Rakshak is a with-profit, non-linked (conventional type) plan, with a maximum sum assured of 2,00,000 for an individual. The benefits under the plan include, death benefits and maturity benefit which is discussed in detail here.

LIC Jeevan Rakshak – Plan 827 – Key Features
  • Endowment type of plan with a maximum term of 20 years.
  • Maturity benefit of the plan includes Basic Sum Assured + Loyalty Additions (If any).
  • ‘Sum Assured on death’ is the higher of ‘Basic Sum Assured;  or 10 times of annualised premium; or 105% of all the premiums‘ paid as on date
  • Death coverage of the policy includes ‘Sum Assured on Death’ + Loyalty additions, if the death occurs after the completion of 5th policy year. On the other hand if the death occurs within 5 policy years, only ‘Sum Assured on death’ shall become payable.
  • Loan shall be available on the policy after payment of premiums for 3 full years.
  • No loyalty addition shall be paid if the policy is surrendered before the maturity.


LIC Jeevan Rakshak (827) Eligibility conditions and restrictions
Age at entry8 Years (Completed)55 Years (Nearest Birthday)
Policy Term10 Years20 Years
Basic Sum Assured (per life)Rs. 75,000Rs. 2,00,000
Rebates Available
Mode RebateYearly – 2% and Half yearly 1%
Sum Assured RebateSA more than 1,50,000 -> Rs. 1.5/1000 SA
Premium and Maturity Calculator – LIC Jeevan Rakshak – Plan 827

Online Premium and Maturity calculator of Jeevan Rakshak plan is intended to give you a clear idea on the premium and benefits of the scheme as per the parameters provided by you. It can calculate the premium with and with out riders, such as Accident Benefit Rider. Click the button given below to open premium and maturity calculator.

LIC Jeevan rakshak calculator

LIC Jeevan Rakshak – Plan 827 – Example of Benefits

In order to understand the LIC’s Jeevan Rakshak plan (827) at depth, let us consider an example of a person taking the plan. Let the details of the life assured be as follows.

Details of the life assured considered for example
Age35Term20 Years
Sum Assured2,00,000Accident Benefit RiderYes
Premium details will be as given below…

LIC Jeevan Rakshak 827 premium details

Now let us have a look at the insurance coverage and other benefits under the policy. Premium is paid for 20 years. For first five years the normal coverage will be equal to the ‘Basic Sum Assured’ of the plan. From the fifth year on wards, the insurance coverage will be equal to the Basic Sum Assured + Loyalty addition declared by LIC.

LIC Jeevan Rakshak 827 example of benefits

Please Note: The illustration shown here are just to give you a general idea about the plan, as per the details considered for example. If you want to calculate the premium and benefits as per your details, use Online Premium and Benefit Calculator.

Read more: Compare similar plans from LIC


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.