| Age at Entry | |
|---|---|
| Basic Sum Assured | |
| Premium Paying Term | |
| Premium Basis | |
| Survival Benefit Frequency | Every 5 years, throughout lifetime |
| Survival Benefit Amount | |
| Death Benefit | Basic Sum Assured + vested bonuses |
| Guaranteed Surrender Value |
LIC Jeevan Rekha (UIN: 512N211V01) is a money-back whole-life insurance plan that combines lifelong financial protection with regular survival payouts. Under the plan, the policyholder receives survival benefits at five-year intervals while life insurance protection continues throughout the lifetime.
Launch Date and Withdrawal Date
- Launch Date: LIC Jeevan Rekha was introduced on 22 July 2002, combining whole-life insurance protection with money-back benefits.
- Withdrawal Date: The plan has been withdrawn and is no longer available for fresh sales. The withdrawal date was after October 2025.
Key Features of LIC Jeevan Rekha
Some of the important features of LIC Jeevan Rekha include:
- Money-Back Whole Life Cover: Provides lifelong insurance protection along with periodic survival payouts.
- Survival Benefit: The policy provides 10% of the Basic Sum Assured every five years throughout the policyholder’s lifetime.
- Death Benefit: On the death of the life assured, the Sum Assured along with vested bonuses is payable as a lump sum.
- Surrender Facility: A surrender value becomes available when the policy has remained in force for the required period.
- Entry Age: 13 to 65 years.
- Premium Payment Options: Single premium, limited premium for 5, 10, 15, 20, or 25 years, or premium payment throughout life.
- Minimum Sum Assured: ₹2 lakh, with no stated upper limit.
- Optional Benefits: Additional benefits can be added through available riders by paying an extra premium.
LIC Jeevan Rekha Calculator: How Does It Work?
The LIC Jeevan Rekha Calculator is designed to help users estimate premiums and understand potential policy benefits based on factors such as age, Basic Sum Assured, premium-paying term, and optional riders.
By entering the required information, users can get an illustration of their expected premium and various benefits under the plan.
Steps to Use the LIC Jeevan Rekha Calculator
Using the calculator is simple:
- Select LIC Jeevan Rekha from the available plan list.
- Enter the age at entry, which should be between 13 and 65 years.
- Enter the required Basic Sum Assured, starting from ₹2 lakh.
- Select the desired premium payment period, such as single, limited, or lifelong.
- Add any applicable riders if additional protection is required.
- Click Calculate to view the estimated results.
The calculator can provide details such as:
- Estimated yearly premium
- Survival benefit amounts
- Maturity or surrender-related values
- Death benefit
Survival Benefits Explained
One of the distinctive features of Jeevan Rekha is its periodic survival benefit.
The policy pays 10% of the Basic Sum Assured every five years, beginning five years after the policy commencement and continuing throughout the lifetime of the policyholder.
Example
If the Basic Sum Assured is ₹5,00,000, then:
10% of ₹5,00,000 = ₹50,000
Therefore, the policyholder receives ₹50,000 at every applicable five-year interval.
Death Benefit
If the life assured dies, the nominee receives:
- The applicable Sum Assured
- All vested bonuses
The official product summary states that the Sum Assured together with vested bonuses is payable in a lump sum whenever the death occurs.
The survival benefits received during the policy do not reduce the stated death benefit in the supplied information.
Surrender Value
LIC Jeevan Rekha also provides a surrender facility for policyholders who decide to terminate the policy before its normal continuation.
According to the product document, the policy may be surrendered after it has been in force for three years or more. The Guaranteed Surrender Value is 30% of the basic premiums paid, excluding the first year’s premium. For a single-premium policy, the Guaranteed Surrender Value is 90% of the single premium paid.
LIC may also pay a Special Surrender Value, which can be equal to or higher than the Guaranteed Surrender Value. The actual amount depends on factors such as the premium-payment duration and policy duration at the time of surrender.
Therefore, the calculator can be useful for estimating the surrender value based on individual policy details.
Eligibility Criteria
| Criteria | Minimum | Maximum |
|---|---|---|
| Entry Age | 13 years | 65 years |
| Premium Term | 5 years | Lifetime |
| Sum Assured | ₹2 lakh | No limit |
Benefits of the LIC Jeevan Rekha Calculator
Using a Jeevan Rekha calculator can make policy planning easier by providing:
- Instant Premium Estimates: Quickly calculate the expected premium.
- Personalised Results: Calculations can be based on age, Sum Assured, and premium term.
- Benefit Planning: Understand possible survival, death, and surrender benefits.
- Easy Comparison: Compare different policy configurations.
- Rider Analysis: See how additional rider protection can affect the overall premium.
Sample Calculation
Let’s consider a simple example:
Policy Details
- Age at Entry: 35 years
- Sum Assured: ₹2,00,000
- Premium Payment: Annual
- Premium Paying Term: 25 years
Illustration
Based on the supplied illustration:
- Annual Premium: Approximately ₹8,488
- Survival Benefit: ₹20,000 at every applicable five-year interval
- Surrender Value: The Guaranteed Surrender Value is based on the applicable policy conditions.
- Death Benefit: ₹2,00,000 plus applicable vested bonuses.
The official illustration for a 35-year-old with ₹2,00,000 Sum Assured and a 25-year premium-paying term shows an annual premium of ₹8,488. It also shows a ₹20,000 survival benefit at years 5, 10, 15, 20, 25 and 30.
Understanding the Official Benefit Illustration
The official document also provides two examples of how the benefits can develop over time.
In Illustration 1, a 35-year-old takes a ₹2,00,000 Sum Assured with a single premium of ₹1,04,850. The illustration shows a ₹20,000 survival benefit at years 5, 10, 15, 20, 25 and 30.
In Illustration 2, the same age and Sum Assured are used, but the premium-paying term is 25 years. The annual premium is ₹8,488, and the illustration again shows the five-year survival benefit pattern.
The illustration notes that variable benefits are based on assumed future investment returns of 6% and 10% per annum in the two scenarios. These assumed rates are not guaranteed.
It also states that future bonuses depend on future profits and are therefore not guaranteed in advance. However, once a bonus is declared and added to the policy, that bonus becomes guaranteed.
Important Policy Conditions
Some important points to keep in mind include:
- Premiums can be paid yearly, half-yearly, quarterly, monthly, or through salary deduction. A single-premium option is also available.
- Available premium-paying terms include 5, 10, 15, 20, and 25 years, as well as lifelong premium payment.
- The plan participates in LIC’s profits and can receive Simple Reversionary Bonuses.
- A Final/Additional Bonus may also become payable if the policy satisfies the required conditions.
- Additional benefits can be selected by paying an extra premium.
- Surrender conditions should be checked carefully before terminating the policy.
- The product summary is illustrative and does not replace the actual policy document.
Who Should Use the Jeevan Rekha Calculator?
The calculator can be useful for people interested in understanding the financial structure of a whole-life money-back policy, including:
- Young earners looking for long-term financial protection.
- Middle-aged individuals interested in periodic payouts.
- People who want lifelong insurance protection for their family.
- Existing policyholders who want to estimate policy benefits.
- Insurance professionals and learners studying older LIC plans.
How Jeevan Rekha Stands Out
LIC Jeevan Rekha has several features that distinguish it from conventional endowment policies:
- It combines whole-life insurance with money-back benefits.
- Survival benefits are provided at regular five-year intervals.
- The plan provides lifelong death protection.
- Premium payment can be structured in several ways.
- It provides a surrender facility after the applicable period.
- It participates in LIC’s profits through bonuses.
How Accurate Is the Calculator?
The calculator’s output depends on the information entered by the user, such as:
- Age
- Sum Assured
- Premium-paying term
- Premium mode
- Selected riders
For the most reliable calculation, users should compare the calculator’s output with their actual policy document and applicable LIC terms.
The official benefit illustration itself explains that some benefits are guaranteed while other benefits can vary according to future performance and bonus declarations.
Comparing Jeevan Rekha With Other Plans
| Plan Name | Coverage Type | Money-Back | Entry Age | Surrender | Survival Benefit |
|---|---|---|---|---|---|
| Jeevan Rekha | Whole Life with Money Back | Yes | 13–65 | After 3 years | 10% every 5 years |
| Jeevan Labh | Endowment – Limited Term | No | 8–59 | After 3 years | Lump sum at maturity |
| Dhan Rekha | Endowment – Money Back | Yes | 90 days–60 | After 3 years | At specified intervals |
Tips for Users
Before relying on a Jeevan Rekha calculation, consider these points:
- Use reliable sources for plan and calculator information.
- Verify the applicable policy conditions before making any decision.
- Read the policy document and brochure carefully.
- Compare different premium and Sum Assured combinations.
- Check the effect of riders on the premium.
- Remember that bonus-related benefits may not always be guaranteed in advance.
- Use the calculator to evaluate multiple scenarios before making a financial decision.
How the Jeevan Rekha Calculator Helps Website Owners
For website owners, developers, and insurance-focused platforms, adding a Jeevan Rekha calculator can make policy information easier for visitors to understand.
A simple calculator can allow users to enter their age, Sum Assured, and premium-paying term and then view estimated premiums and benefits. This can improve user engagement and make complex insurance calculations easier to understand.
Frequently Asked Questions
What is LIC Jeevan Rekha?
LIC Jeevan Rekha is a Money Back Whole Life insurance plan that combines lifelong death protection with survival benefits paid at five-year intervals.
What is the UIN of LIC Jeevan Rekha?
The UIN of LIC Jeevan Rekha is 512N211V01.
When was LIC Jeevan Rekha launched?
The plan was launched on 22 July 2002.
Is LIC Jeevan Rekha still available for new customers?
No. The plan has been withdrawn from new sales.
What does the LIC Jeevan Rekha Calculator calculate?
It can help estimate premiums and illustrate survival, death, and surrender-related benefits using details such as age, Sum Assured, and premium-paying term.
What is the survival benefit under Jeevan Rekha?
The plan provides 10% of the Basic Sum Assured every five years throughout the policyholder’s lifetime, with the first payment due five years after commencement.
What happens when the policyholder dies?
The Sum Assured together with all vested bonuses is payable to the nominee in a lump sum.
When is the surrender value available?
The policy may be surrendered after it has remained in force for three years or more. For regular premium policies, the Guaranteed Surrender Value is 30% of basic premiums paid excluding the first year’s premium.
Final Thoughts
The LIC Jeevan Rekha Calculator is a useful tool for understanding the premium structure and potential benefits of this money-back whole-life insurance plan.
Jeevan Rekha combines lifelong protection, periodic survival benefits, and bonus participation, making its structure different from a standard endowment policy. The official product document confirms that 10% of the Basic Sum Assured is payable every five years throughout the policyholder’s lifetime, while the Sum Assured and vested bonuses are payable on death.
Although the plan is no longer available for new sales, a calculator can still be useful for existing policyholders, insurance learners, and website visitors who want to understand the plan’s premium, survival benefits, surrender value, and death-benefit structure.
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