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LIC Jeevan Pramukh Policy

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This plan has been withdrawn by the insurance company and is no longer available for sale.


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


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