LIC Jeevan Kishore Plan

LIC Jeevan Kishore Plan is an Endowment Assurance Plan for a child such that Sum Assured plus Bonus would be paid for the child’s benefit on the term’s maturity. The proposer can further secure his child’s future by opting for Premium Waiver Benefit rider, such that if he dies before the policy matures, then the future premiums would be waived. There are additional rider benefits like Premium Waiver Benefit. Once the child attains majority, the policy gets transferred to his name and then he can also opt for Accidental Death Benefit rider by paying additional premium.

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Key Features

There are additional riders like Premium Waiver Benefit which can be availed by the proposer and Accidental Death Benefit rider that can be availed by the child after he is 18 years old
On Maturity the Life Insured or his nominee would receive the Sum Assured + Bonus
The policy can be taken by the child’s parents or legal guardian, if parent is not alive
Risk on a child’s life commences after 2 policy years or the child attains 7 years of age, whichever is later


Death Benefit

In case of death of the child, i.e. the Life Insured before the risk commencement then the nominee would get only the basic premiums paid till date. In case of death of the child, i.e. the Life Insured after the risk commencement then the nominee would get Sum Assured + accrued Bonus till date.
In case the proposer dies before the policy matures, the Insurer pays the premium if the Premium Waiver Benefit rider has been opted for.

Maturity Benefit

On maturity, the life insured gets the Sum Assured plus Bonus.


There are 2 additional riders available in this policy

1. Premium Waiver Benefit- that can be opted by the proposer

2. Accidental Death Benefit- that can be obtained by the life insured once he is at least 18 years.


  Minimum Maximum
Sum Assured (in Rs.) 50,000 40,00,000
Policy Term (in years) 15 35
Premium Payment Term (in years) Equal to Policy Term
Entry Age of Life Insured (in years) 0 12
Age at Maturity (in years) 20 45
Single Premium (in Rs.) - -
Payment modes Single, Yearly, Half-Yearly and Quarterly


Sample illustration of premium amount in LIC Jeevan Kishore Plan
Age = 1, 5 and 10 years

Policy Term = 30 years

Premium Paying Term = Regular Pay

Sum Assured = Rs 1,00,000

LIC Jeevan Kishore Plan Sample Premium Amounts


angle down icon 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.

angle down iconWhat happens if you want to surrender the policy

The policy may be surrendered after it has been in force for 3 years or more. The guaranteed surrender value, if policy is surrendered before the date of commencement of risk is 90 % of premiums paid excluding premium for the first year. If policy is surrendered after the date of commencement of risk, the guaranteed surrender value is 30 % of premiums paid after commencement of risk together with 90 % of premiums paid before the commencement of risk. Premiums for the first year and the premiums for Premium Waiver Benefit, if any, will be excluded.

angle down icon What happens if you want a loan against your policy

Loan is available after the policy is vested to the Life Insured, i.e. after he attains 18 years of age.