India's 1st IRDAI Approved Insurance Web Aggregator

LIC Jeevan Chhaya Plan

  •  views
  •  views
This plan has been withdrawn by the insurance company and is no longer available for sale.

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. 1,50,000 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


Compare Child Plans

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.

Read Review of  LIC Jeevan Chhaya in Marathi >  |  LIC Jeevan Chhaya in Hindi >


Compare Child Plans

Leave a Comment

Child Plan Calculator
Important: Insurance is the subject matter of solicitation | © 2009-2022