LIC Jeevan Pramukh Policy


Policy Discontinued
LIC Jeevan Pramukh Plan


LIC Jeevan Pramukh Plan is a special category plan as it is a Life Insurance Policy especially for the Very High Net Worth Individuals. It is basically an Endowment Plan with Limited premium Paying Term which caters to the requirements of very high net worth individuals.


In this plan, premium needs to be paid for a 3, 4 or 5 years but the life cover continues for the entire policy term of a maximum of 25 years. The Sum Assured + accrued Reversionary Bonus + Guaranteed Additions + Terminal Bonus, if any, would be paid to the Life Insured on the policy maturity or to his nominee on earlier death of the Life Insured.

Hence this plan is a very simple Endowment Plan along with Bonus and Guaranteed Additions and Terminal Bonus, if any. This plan caters to the very high net worth individuals because the minimum Sum Assured is Rs 10,00,000.



Key Features of LIC Jeevan Pramukh Plan


§  This plan is an endowment plans which is especially for high net worth individuals

§  This plan has limited premium paying term of 3, 4 or 5 years

§  The Sum Assured + Guaranteed Additions + accrued Bonus + Terminal Bonus, if any, is payable on policy maturity or on earlier death.

§  There are Guaranteed Additions every year for the first 5 policy years.

§  This policy offers large Sum Assured rebate



Benefits you get from LIC Jeevan Pramukh Plan


Death Benefit – In case of death of the Life Insured, the nominee receives Sum Assured + Guaranteed Additions + Accrued Reversionary Bonus + Terminal Bonus, if any.


Maturity Benefit – At the maturity of the policy, the insured will get the remaining Sum Assured + accrued Reversionary Bonus + Guaranteed Additions + Terminal Bonus, if any.


Income Tax Benefit – Premiums paid under life insurance policy are exempted from tax under Section 80 C and maturity proceeds are exempted from tax under Section 10 (10D)



Eligibility conditions and other restrictions in LIC Jeevan Pramukh Plan





Sum Assured (in Rs.)


No Limit

Policy Term (in years)



Premium Payment Term (in years)



Entry Age of Policyholder



Age at Maturity



Single Premium (in Rs.)



Payment modes

Yearly, Half-Yearly, Quarterly and Monthly



Sample illustration of premium of LIC Jeevan Pramukh Plan


The below illustration is for a healthy Male opting for a Sum Assured = Rs 10,00,000and Policy Term = 25 years and Premium Paying Term = 5 years respectively.

LIC Jeevan Pramukh Policy Sample Premium


Additional Features and Benefits of LIC Jeevan Pramukh Plan


Riders – There are no Additional Riders available:



What happens if?


You stop paying the premium – f you stop paying the premiums after 3 policy years, the policy acquires a Paid Up Value for a Reduced Sum Assured but the policy would be eligible for any future regular additions.

You want to surrender the policy – There is a Guaranteed Surrender Value after 3 policy years
Guaranteed Surrender Value = 30% of all premiums paid – 1st year’s premium


You want a loan against your policy – Loan facility is available under this policy



Alternate Endowment Plans from different insurance companies


1.     Aegon Religare iMaximise Plan

2.     IndiaFirst Secure Save Plan

3.     SBI Life -Flexi Smart



Other Endowment Plans from Life Insurance Corporation of India


1.     Endowment Assurance - with profits

2.     Endowment Assurance Limited.  Payment - with profits

3.     Endowment Assurance Policy - with profits

4.     Jeevan Saral

5.     Jeevan Mitra

6.     New Jana Raksha Plan

7.     Jeevan Mitra Triple Cover

8.     New Jeevan Shree 1

9.     Jeevan Pramukh

10.   Bima Nivesh 2005

11.   LIC's Jeevan Amrit

12.   LIC's Bima Account -I

13.   LIC's Bima Account -II

14.   LIC's Endowment Plus


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

Leave a Comment

Kindly suggest best minimum termplan in Jeevan Pramukh for me , as my Age is 24 Years & 5 Months.Compare both 3 & 5 at minimum Premiums.

By Shyam Nandan Roy on Sep 19, 2013 Reply

Dear Shyam, this is not a term plan.

I assume now that you wanted to know the best minimum term of the plan. You will have to take a cover of minimum 10 lakhs. For 10 lakhs cover:
- The premium for a policy term of 5 years, and premium payment term of 3 years the annual premium is Rs. 3,55,495 + taxes.
- The premium for a policy term of 5 years, and premium payment term of 5 years the annual premium is Rs. 2,35,200 + taxes.
The premium for a policy term of 10 years, and premium payment term of 3 years the annual premium is Rs. 2,99,929 + taxes.

Replied By Deepak Yohannan (MIC Staff) on Sep 20, 2013 Reply

i already paid one term of premium 198695 for jeevan pramukh policy,my premium paying term is 5 and policy term is 10,after maturity how much the amount i can assume

By Sujeesh S on Jul 03, 2013 Reply

Dear Sir, you would need to quote your age also to get the expected maturit amount. The mortality rates deducted would vary across age bands.

However, we will not be in a position to give you the tentative maturity amounts at 6% or 10% as of now as we do not access to the tools as of now.

Sincere apologies for the same. It is a temporary problem at our end. 

Replied By Admin (MIC Staff) on Jul 08, 2013 Reply

i am buy lic jeevan prmukh how much money get after 25 year

By Munindra Roy on Apr 22, 2013 Reply

Hi Munindra Roy, pls find the benefits basis the following assmptions.

Your age when buying = 35 years

Premium Paying Term = 3 (You pay only 3 premiums)

Term of plan is = 25 years

This plan has guaranteed additions and is applicable for bonus also, so the returns may vary. We has assumed 2 indicated rate of returns - 6% & 10%

@ 6% you will get Rs. 18,36,000 on maturity

@ 10% you will get Rs. 40,23,000 on maturity

Replied By Admin (MIC Staff) on Apr 23, 2013 Reply


By Radhakrishna on Sep 12, 2012 Reply

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