Life Insurance Corporation of India (LIC) has introduced several insurance products over the years to address different financial needs. One notable older product was LIC Jeevan Bharati I Plan 192, a money-back insurance policy created exclusively for women. The plan combined life protection with periodic survival benefits, maturity proceeds, and optional additional covers.

What is LIC Jeevan Bharati I Plan 192?

LIC Jeevan Bharati I (Plan No. 192) was a traditional participating money-back life insurance plan specially designed for women. It provided periodic survival benefits during the policy term along with death and maturity benefits. Policyholders could also enhance their protection through selected optional riders.

A major feature of the plan was the payment of a portion of the Basic Sum Assured at five-year intervals. This provided access to money during the policy period instead of requiring the policyholder to wait until maturity. In addition, the death benefit included the Sum Assured along with applicable bonuses, while maturity proceeds consisted of the remaining Sum Assured and vested bonuses, including a Final Additional Bonus where applicable.

Key Highlights

• Designed exclusively for women.
• Entry age ranged from 18 to 55 years.
• Policy terms were available for 15 or 20 years.
• Basic Sum Assured ranged from ₹50,000 to ₹25 lakh.
• Sum Assured could be selected in multiples of ₹5,000.
• Premiums were payable yearly, with an option for advance payment.
• Survival benefits were available at five-year intervals.
• Death benefit included the full Sum Assured along with applicable bonuses.
• Accident, Critical Illness, and Congenital Disability riders were available as optional covers.
• Survival benefits could be encashed later, potentially at an increased amount.
• Maturity proceeds could also be converted into an annuity.

Launch and Withdrawal of LIC Jeevan Bharati I Plan 192

LIC Jeevan Bharati I was introduced to provide women with dedicated financial protection and savings opportunities. According to the provided information, the plan was launched in the early 2000s and was associated with International Women’s Day-related promotion in 2003.

• Launch: Early 2000s
• Withdrawal: December 22, 2013

Although the plan is no longer available for fresh purchases, existing policyholders can continue to receive benefits according to the original policy conditions until maturity or another applicable exit event.

Eligibility Criteria

The major eligibility conditions of LIC Jeevan Bharati I Plan 192 were as follows:

These eligibility conditions made the plan suitable for women looking for a combination of insurance protection and structured savings.

Who Could Purchase LIC Jeevan Bharati I Plan 192?

The policy was exclusively intended for women and was structured around their long-term financial protection requirements.

The principal conditions included:

• Age at Entry: 18 to 55 years
• Policy Duration: 15 or 20 years
• Sum Assured: ₹50,000 to ₹25 lakh
• Premium Payment: Yearly, with an option to pay annual premiums in advance in up to three instalments

The plan could therefore be considered by women at different stages of life, including working professionals, homemakers, and those planning long-term financial security.

Benefits of LIC Jeevan Bharati I Plan 192

1. Survival Benefit or Money-Back Benefit

One of the plan’s main attractions was its periodic survival benefit. Instead of receiving all the benefits only at maturity, the policyholder received a specified percentage of the Sum Assured during the policy term.

For a 15-Year Policy

The survival and maturity payouts were structured as:

• End of 5th year: 20% of Sum Assured
• End of 10th year: 20% of Sum Assured
• End of 15th year: Remaining 60% of Sum Assured + vested bonuses + Final Additional Bonus, if applicable

For a 20-Year Policy

The payout structure was:

• End of 5th year: 20% of Sum Assured
• End of 10th year: 20% of Sum Assured
• End of 15th year: 20% of Sum Assured
• End of 20th year: Remaining 40% of Sum Assured + vested bonuses + Final Additional Bonus, if applicable

This arrangement provided periodic liquidity while keeping the policy active.

2. Death Benefit

If the insured woman died during the policy term, the nominee was entitled to the full Sum Assured, irrespective of any survival benefits that had already been paid.

Applicable vested bonuses and Final Additional Bonus, if any, were also payable. This feature provided financial support to the nominee during an unfortunate event.

3. Maturity Benefit

If the policyholder survived until the end of the policy term, the maturity payout consisted of the remaining Sum Assured along with:

• Vested bonuses
• Final Additional Bonus, if applicable

This provided a final lump-sum benefit after completion of the policy period.

LIC Jeevan Bharati I Plan 192 also provided options to strengthen the basic insurance coverage through additional riders.

Accident Benefit Rider

Provided additional protection in the event of accidental death or disability, including premium waiver in cases of permanent disability.

Critical Illness Benefit Rider

Offered additional financial support if the insured was diagnosed with a covered critical illness.

Congenital Disability Rider

Provided protection relating to specified congenital disabilities affecting children born to the policyholder.

These optional covers allowed policyholders to customize their protection according to their requirements.

Special Features

Apart from its regular money-back and insurance benefits, the plan included several useful features:

• Survival benefits could be withdrawn when required after becoming due, with the possibility of receiving an increased amount if encashed later.
• Premiums could be paid in advance, with applicable rebates.
• A free insurance cover was available for three years in certain cases of premium default.
• Maturity proceeds could be taken in the form of an annuity to generate regular income.

LIC Jeevan Bharati I Plan 192 Premium Calculation

The premium payable under this plan depended on several factors, including:

• Age of the woman at entry
• Selected Sum Assured
• Chosen policy term
• Optional riders selected

For example, for a ₹10 lakh Sum Assured without riders, the provided historical premium figures were:

The premium generally varied according to the policyholder’s age and selected policy duration.

LIC Jeevan Bharati I Plan 192 Calculator

The LIC Jeevan Bharati I Plan 192 Calculator can be used as a planning tool to estimate the premium and benefits associated with the policy. It can help users understand potential survival payouts, maturity proceeds, and death benefits without performing the calculations manually.

Why Use the Calculator?

A calculator can help you:

• Determine the estimated yearly premium based on age and Sum Assured.
• Understand the money-back benefits payable at five-year intervals.
• Estimate maturity proceeds, including applicable bonuses.
• Review the potential death benefit for the nominee.
• Compare different policy terms and Sum Assured amounts.

Information Required

Typically, the calculator requires:

1. Age of the policyholder
2. Policy term — 15 or 20 years
3. Desired Sum Assured
4. Selection of optional riders

After entering these details, the calculator estimates the premium and applicable policy benefits.

How to Use the Calculator

Follow these general steps:

1. Enter the policyholder’s age — The applicable entry age should be between 18 and 55 years.
2. Select the policy term — Choose either 15 years or 20 years.
3. Enter the Sum Assured — Select an amount within the permitted range.
4. Select riders — Add Accident, Critical Illness, or Congenital Disability coverage if applicable.
5. Choose the premium option — The original plan permitted yearly premium payments.
6. Calculate the premium — The tool provides the estimated annual premium.
7. Review benefits — Check the survival benefits, maturity amount, and death benefit.

Since this is a withdrawn plan, users should ensure that any calculator being used follows the historical plan rules accurately.

Advantages of LIC Jeevan Bharati I Plan 192

The key advantages of this plan included:

• Women-focused protection: Created specifically around women’s financial security.
• Periodic money-back benefits: Survival benefits were available every five years.
• Combination of protection and savings: Life cover was combined with periodic payouts and maturity benefits.
• Optional riders: Additional protection could be added according to requirements.
• Flexible benefit withdrawal: Certain survival benefits could be deferred for a potentially higher payout.
• Bonus opportunity: Participating benefits could increase the overall maturity proceeds.
• Disciplined savings: Regular premiums encouraged long-term financial planning.
• Annuity option: Maturity proceeds could potentially be converted into regular income.

Limitations of the Plan

There were also some limitations worth considering:

• The plan was withdrawn in 2013 and cannot be purchased by new customers.
• Premiums were payable only annually under the original structure.
• Bonuses were variable and dependent on LIC’s declared rates.
• The plan was exclusively for women and therefore was not available to male policyholders.
• Individuals seeking a modern insurance product may need to consider currently available alternatives instead.

Alternatives to LIC Jeevan Bharati I Plan 192

Since Plan 192 has been discontinued, individuals looking for comparable insurance and savings features would need to explore LIC’s currently available products.

The provided information mentions products such as:

• LIC New Jeevan Shanti
• LIC Jeevan Lakshya
• LIC Jeevan Labh
• LIC New Money Back Plans

Current policy features, eligibility, premiums, and availability should be checked before selecting any replacement product.

Where Could Similar LIC Plans Be Purchased?

Although Jeevan Bharati I Plan 192 itself is no longer available, comparable LIC products may be available through:

• LIC’s official website and authorized agents
• LIC branch offices
• Insurance marketplace platforms
• Financial advisors and insurance brokers

Before purchasing a replacement policy, compare the premium, policy term, Sum Assured, maturity benefits, riders, and other applicable conditions.

Frequently Asked Questions

What was LIC Jeevan Bharati I Plan 192?

It was a traditional money-back life insurance plan created exclusively for women. The policy offered periodic survival benefits, life insurance protection, and maturity benefits.

Who was eligible for LIC Jeevan Bharati I Plan 192?

Women between 18 and 55 years of age could purchase the policy, with available policy terms of 15 or 20 years.

Is LIC Jeevan Bharati I Plan 192 available now?

No. The plan was withdrawn from new sales in December 2013. Existing policyholders continue according to the terms of their policies.

How often were survival benefits paid?

Survival benefits were scheduled at five-year intervals during the policy term.

What happened if the policyholder died during the policy term?

The nominee was entitled to the full Sum Assured along with applicable bonuses, regardless of the survival benefits already received.

Were riders available with the plan?

Yes. Optional Accident Benefit, Critical Illness, and Congenital Disability riders were available to provide additional protection.

Conclusion

LIC Jeevan Bharati I Plan 192 was a distinctive money-back insurance product created specifically for women. It combined life insurance protection with periodic survival payouts and maturity benefits, while also providing access to optional riders for enhanced coverage.

Its five-year survival benefit structure gave policyholders periodic access to funds, while the death and maturity benefits provided longer-term financial protection. Although the plan was withdrawn from new sales in 2013, understanding its structure remains useful for existing policyholders and for people researching LIC’s older insurance products.

The LIC Jeevan Bharati I Plan 192 Calculator can also be useful for understanding historical premium structures, survival benefits, maturity calculations, and death benefits based on the original plan rules.

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