LIC Jeevan Varsha Plan

LIC Jeevan Varsha provides periodic payments and maturity benefits and death benefits. You will also get guaranteed and loyalty additions on death and maturity.

Eligibility Conditions of LIC Jeevan Varsha

Entry Age

Minimum – 15 years

Maximum – 66 years

Maturity Maximum – 75 years
Policy Term

9 years

12 years

Key Features of LIC Jeevan Varsha


A close ended Money Back plan.




  • Death Benefit: In the event the life insured dies during the policy term, the sum assured is payable along with guaranteed and loyalty additions.
  • Survival Benefit: The policyholder gets the following survival benefits:

    9 year term:

    At the end of 3 years – 15% of sum assured

    At the end of 6 years – 25% of sum assured

    At the end of 9 years – 60% of sum assured with guaranteed and loyalty additions.

    12 year term:

    At the end of 3 years – 10% of sum assured

    At the end of 6 years – 20% of sum assured

    At the end of 9 years – 30% of sum assured

    At the end of 12 years – 40% of sum assured with guaranteed and loyalty additions.

Sum assured

Minimum: For monthly mode it is Rs.75,000 and for other modes it is Rs.50,000.

Maximum: No limit

Minimum Premium amount

For sum assured Rs.1,000 the premium is as follows for different age group for different policy term:

  • Age 20: Rs.161.85 for 9 year term and Rs.165 for 12 year term.
  • Age 25: Rs.161.90 for 9 year term and Rs.165.10 for 12 year term.
  • Age 30: Rs.162.05 for 9 year term and Rs.165.30 for 12 year term
  • Age 35: Rs.162.45 for 9 year term and Rs.165.85 for 12 year term
  • Age 40: Rs.163.20 for 9 year term and Rs.166.90 for 12 year term
  • Age 45: Rs.164.60 for 9 year term and Rs.168.65 for 12 year term
  • Age 50: Rs.166.95 for 9 year term and Rs.171.50 for 12 year term

Premium paying frequency

Monthly, quarterly, half-yearly and yearly.

Premium paying method

Monthly premium payment must be transferred through ECS or direct debit.


If the premium which is due is not paid within the grace period, then the policy will lapse. The policy can be revived within 5 years from the date of the first unpaid premium or before maturity. The arrears must be paid with interest.


No bonus offered.

Surrender Value

The surrender value will be paid after completing 3 policy years. It is 30% of the total amount of the premiums paid.

Paid-up value

If you have paid 3 full year premiums, and you fail to pay premiums after the 3 years, the policy doesn't lapse instead it will be converted to a paid-up policy.


Loan facility is available after the policy acquired paid-up value.

Grace period

30 days grace period will be allowed for yearly, half-yearly and quarterly premiums. 15 days for monthly premium.

Free look period / Cooling off period

The plan has a 15 days free look period from the date of receipt of the policy document. After submitting in writing the reason for you to cancel the plan you will receive refund on the date of allocation along with deductions, if any.

Tax benefits

Tax benefits that are relevant will be applicable.


You can appoint a nominee.


If the policyholder commits suicide within a year from the date of taking the policy, the nominee will get the fund value as available on the date of death.

Advantages of of LIC Jeevan Varsha

  • Survival benefits are paid.
  • Death benefit is offered to the nominee.
  • Guaranteed additions of Rs.65,000 sum assured for 9 year policy term of LIC and Rs.70,000 per year for 12 year policy term is offered.
  • Loyalty additions are paid based on maturity or on death.
  • Tax benefits can be availed.

How the Plan Works

Miss. Shubha who is 35 years old invested in LIC Jeevan Varsha for 12 year term. The premium paying term is 9 years. The annual premium she has to pay is Rs.16,053. The sum assured is Rs.1 lakh. She will get guaranteed additions of Rs.1,000 per year per sum assured. The guaranteed benefits by the end of the 12th year will be Rs.1,84,000.

Premium Payment

The premium paying term is 9 years. The premium can be paid yearly, half-yearly, quarterly or monthly. The monthly payments are to be made through ECS or Direct Debit.


This policy has no riders.

This Insurance Company has not partnered with For more details, please visit its website/branch office. The trademarks, logos and other subject matters of intellectual property belong to their respective owners.

GST of 18% is applicable on life insurance effective from the 1st of July, 2017

 4.5 / 5.0   by 2 users
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Fees & Charges

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LIC Jeevan Varsha Plan Reviews

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  • LIC Life Insurance
    "Trustable policy"
    0.5 5.0/5 "Blown Away!"
    I have taken Jeevan varsha policy before six years. I am making the premium Rs.1350 on monthly basis has the tenure 14 years. After the tenure period I would be getting double the money and every fifth and tenth year I will be getting bonus interest amount of Rs. 36,000.
    Was this review helpful? 1
    , chennai
    Reviewed on Jun 01, 2017
  • LIC
    LIC Life Insurance
    "Life Cover..."
    0.5 4.0/5 "Great!"
    I have Jeevan Anand, Jeevan Varsha and one more policy from LIC. In Jeevan Anand I will get a lump sum amount after maturity period and 2 lakhs as a life coverage. In Jeevan Varsha after every 5 years I will get some amount from them. It is good. I took these policies through agent. LIC office is always crowded and they do not waste time. They provide a good customer service.
    Was this review helpful? 0
    , bhopal
    Reviewed on Aug 20, 2015
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