LIC Jeevan Chhaya Plan


Policy Discontinued

LIC Jeevan Chhaya Plan


LIC Jeevan Chhaya Plan is a Money Back Endowment Plan for the benefit of a child such that Sum Assured is paid immediately to the nominee on death of the Life Insured and the future premiums are waived but the policy continues. 25% of the Sum Assured is given back to the Life Insured on survival or to the nominee on his death in the last 4 policy years and the accrued bonus and final addition bonus would also be paid on maturity, irrespective of whether the life insured is alive or not.


Compare Child Plans  


Key Features of LIC Jeevan Chhaya Plan


  • This is a Double Benefit Plan as the Sum Assured is paid twice if the Life Insured dies, once immediately when he dies -and again 25% of the Sum Assured is paid in the last 4 policy years
  • Premium needs to be paid till maturity or earlier death 
  • There are inbuilt benefits like Premium Waiver Benefit rider and an additional Accidental Death Benefit rider
  • In the last 4 policy years, 25% of the Sum Assured is paid to the Life Insured or his nominee 


Benefits you get from LIC Jeevan Chhaya Plan


Death Benefit – In case of death of the Life Insured, the nominee would get the Sum Assured immediately. The future premiums would be waived and again 25% of the Sum Assured is paid on each of the last 4 policy years.


Survival Benefit – On Survival of the Life Insured, he receives 25% of the Sum Assured is paid on each of the last 4 policy years.


Maturity Benefit – On maturity, the life insured or his nominee gets the remaining 25% of the Sum Assured plus the Bonus.


Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C



Eligibility conditions and other restrictions in LIC Jeevan Chhaya Plan





Sum Assured (in Rs.)


No Limit

Policy Term (in years)



Premium Payment Term (in years)

Equal to Policy Term

Entry Age of Policyholder

18 years

47 years

Age at Maturity


65 years

Single Premium (in Rs.)



Payment modes

Yearly, Half-Yearly, Quarterly & Monthly and SSS



Sample illustration of LIC Jeevan Chhaya Plan


Premium = Rs.4653/-, Age = 35 years

Policy Term = 25 years, Premium Paying Term = Regular Pay

Sum Assured = Rs 1,00,000

Total Investment = Rs 4653 x 25 = Rs 116325


Guaranteed Return is

Year 22 = Rs 25000/-

Year 23 = Rs 25000/-

Year 24 = Rs 25000/-

Year 25 = Rs 25000/- + Bonus (Variable)

LIC Jeevan Chhaya Plan Sample Returns Benefits


Additional Features and Benefits of LIC Jeevan Chhaya Plan


Riders – There is 1 in-built rider available in this policy

Premium Waiver Benefit


There is 1 additional rider available in this policy

Accidental Death Benefit



What happens if?


You stop paying the premium – The policy will lapse if the premium stops. However, it can be revived within a specific period.


You want to surrender the policy – If premiums for 3 years have been paid up, 30% of basic premiums paid excluding the first year’s premium and the fixed benefit already paid.


You want a loan against your policy - There is loan available under this plan at 9% p.a.



Alternate Child Plans from different insurance companies


1.     MetLife Junior Moneyback

2.     Tata AIG Assure Educare 18

3.     Kotak Child Advantage Plan



Other Child Plans from Life Insurance Corporation of India


1.     LIC Jeevan Anurag

2.     LIC CDA Endowment Vesting At 21

3.     LIC CDA Endowment Vesting At 18

4.     LIC Jeevan Kishore

5.     LIC Child Career Plan

6.    LIC Marriage Endowment Or Educational Annuity Plan


~ By Deepak Yohannan
Note: This is a statement of facts based on the information collected from the LIC Jeevan Chhaya Plan brochure and insurance company's website. It should not be construed as a Critical or Favourable LIC Jeevan Chhaya Plan Review, Analysis or Recommendation.
Insurance is a subject matter of the solicitation.

Leave a Comment

i have taken jeevan chhaya policy and i have already given 5 annual premium and the last one was on june 2014. My annual premium is 12061 INR. My sum assured is 200000 INR. and paying term is 20 years. Now i want to surrender it. how much amount i will get back.

By Santosh Mohapatra on Oct 13, 2014 Reply

Replied By Manoj Aswani (MIC Staff) on Oct 21, 2014 Reply

I have just bought Jeevan Chhaya policy, but i want to withdraw it. Please tell me the procedure & the % which will be cut and time frame of the withdrawal

By Anil Solanki on Sep 28, 2013 Reply

Hi Anil, there is a 15 day free-look period. Within this period you can cancel your policy for any reason whatsoever. Expenses incurred in medical tests, stamp duty charges etc maybe deducted.

Replied By Deepak Yohannan (MIC Staff) on Sep 30, 2013 Reply

Thanx for your reply,,as u said there is 15 day free look up period, bt my agent told me that policy documents will come after 1 month. so in that case how can i cancell my policy..

Replied By Anil Solanki on Sep 30, 2013 Reply

Hi Anil, if you are very sure that you do not want the policy, pls walk into the closes LIC branch and put in an application in writing that you wish to cancel the policy.

The rule applies from 15 days of you receiving the document. But ensure that there is no big delay between policy issurance and you getting the policy. If your agent is trustworthy he will do it for you. Otherwrise just walk into the LIC office.

Replied By Deepak Yohannan (MIC Staff) on Sep 30, 2013

I took Jeevan chhaya in April 1994 for 20 years and maturity date april 2013.
Pls advice me total amount I will receive including bonuses. Jasbir Singh

By Capt Jasbir Singh on Sep 20, 2013 Reply

Dear Captain, since the maturity date is April 2013 you should have already received the amount I presume. Unless you have made a typo and it is 2014.

Anyway, to get updated information about your policy, you should register the same at the link below. You will get all information regarding your policy including the bonuses which have accrued.

This information will only be made available to you by LIC.

Replied By Deepak Yohannan (MIC Staff) on Sep 21, 2013 Reply


By Navratna Kumawat on Sep 17, 2013 Reply

Sure Navratna, we will confirm with you and have someone from LIC Direct team explain the policy in detail to you.

Replied By Admin (MIC Staff) on Sep 17, 2013 Reply

I have entered into the Jeevan Chhaya policy at the age of 22 and my monthly premium is Rs 483.00
My policy term is 22 years.What will be my return structure? Could you kindly mail me at please.

By Yogesh Subedi on Aug 27, 2013 Reply

Dear Yogesh, we do not have access to the simulator which can show the premiums of this plan. But you can get a fair idea of returns on the LIC site mentiioned below: 

Replied By Admin (MIC Staff) on Sep 03, 2013 Reply

what will be the premium amount for a policy term of 18 years and the sum assured for 500000 and the return structure . pls send on my mail

By Sasmita Das on Jun 22, 2013 Reply

Dear Sasmita, the annual premium in this case would be Rs.31,083 - for Rs.5 lakhs cover and term of 18 years.

Rs. 1.25 lakhs would be payable in the last 4 years of policy term whether the life assured dies or survives the term of the policy. Since this is a with-profits plan, annual bonus too would be declared and you will get terminal bonus also when the plan matures. The bonus amount would depend on the company's performance and is declared annually. 

Replied By Admin (MIC Staff) on Jun 25, 2013 Reply

Dear Bhanwerlal Saini, you would have to contact the local LIC office for making the change. Only they will be able to help you with this change.

By Myinsuranceclub on Dec 05, 2012 Reply

main 21 year k liye jeevan chaaya policy lena chahta hu meri age 27 hai , main 15000 tak de sakta hu . mujhe 21 year main kitna milega please reply karna .

By Arvind Kumar on Aug 15, 2012 Reply

i am 18 years old and i want to join in jeevan chaya plan. and can u please tell the details about the jeevan chaya plan and i saw some details of it but i could not understand about that so please tell me the details about that plan sir and u can call to father ph no-9490523176 u can cal to my father and tell the details of it sir.

By J.Ganesh on Jul 25, 2012 Reply

mera jewan chhaya police he or me 16oo rupes hr 6 mhine bhartahu or mene ab tak 12 hpta bhardiya he to lic muje lon de ga

By Faruk on Jul 07, 2012 Reply

Jeevan Chhaya is indeed one of the best child plans around, with numerous options.

I am an insurance agent residing in St. Thomas town and operate mostly in Blore Cantt areas like Frazer Town, Benson town, Kammanahalli, apart from nearby Whitefield, Indirangar etc. or anywhere else in Bangalore too.

Please contact for professional support, transparent advise and options. I also provide multiple options of medical plans etc.

By D'souza on Apr 19, 2012 Reply

i want to take policy for my child

By Dinesh Kumar on Apr 15, 2012 Reply

in the sample illustraton table it is mentioned bonus 10% we will get 1,82,000 this will be addition to 1,00,000 the total amount will be 2,82,000 or amount will be 1,82,000.00

By Santheep on Apr 06, 2012 Reply

Dear team LIC

could you send a agent to me or contact me for the policy of jeevan chaya. I have one year old son and I want to invest some mony for him.

Panchdeo Shukla


By Panchdeo Shukla on Mar 17, 2012 Reply

Best LIC child plan for 8 and 10 year kids sum assured 5 and 10 lakhs, premium is yearly

By Sunil on Mar 12, 2012 Reply

sir, 21 saal k liye jeevan saral policy lena chahta hu , meri age 26 year hai or main 12000 yearly de sakta hu . mujhe 21 saal baad kitna milega .please sir reply jarur karna . thanks.

By Arvind Kumar Pant on Dec 01, 2011 Reply

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