Calculate LIC Policy Maturity Returns

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LIC Komal Jeevan

Komal Jeevan (Table 159) is a children's Money back plan in which the maturity returns will be paid after the child attains 18, 20 , 22, 24 and 26 yrs. This plan can be bought by any of the parents or grandparent of the child. In most cases, Father would be the proposer. If mother has her own income, then mother can also propose the policy. This policy can also be gifted by uncles , grandparents or elder brothers and sisters. But in these cases, either the mother or father should be the proposer. Here, the premium needs to be paid only till the child attains 18 yrs old. There is a guaranteed addition of Rs.75 per 1000 sum assured per year.

Features of LIC Komal Jeevan :

• Moneyback child plan with guaranteed addition of Rs.75 per 1000 S.A
• Premium payment stops immediately after the child attains 18 years of age
• Risk coverage commences after 2 years from the commencement of the policy and the child shoiuld have completed 7 years of age.
• An optional Premium Waiver Benefit can be opted with some extra cost.

LIC Komal Jeevan Eligibility Conditions :



Sum Assured (in Rs.) 1,00,000 25,00,000
Policy Term (in years) 26 - Age of Child
Premium Payment Term(in years) 18 - Age of Child
Entry Age of Life Insured 0 10
Age at Maturity 26
Payment modes Single, Yearly, Half-yearly, Quarterly and SSS

Returns of LIC Komal Jeevan :

Maturity Return :

- 20 % of Sum assured at 18 yrs of age
- 20 % of Sum assured at 20 yrs of age
- 30 % of Sum assured at 22 yrs of age
- 30 % of Sum assured at 24 yrs of age
- Guaranteed Additions with Loyalty additions will be paid at 26 yrs of age

Death Benefit – On the death of the child after the commencement of risk, the nominee would get the Sum assured with Guaranteed and Loyalty additions without deducting any earlier payments made. If the child expires before the commencement of risk, the nominee will get only the premiums paid

Income Tax Benefit – Available under Section 80 C for premiums paid and Section 10 (10D) for Maturity returns
Loan on Policy - Not Available
Housing Loan Surity - Not Available