Introduction to LIC Jeevan Kiran Plan 870
Life insurance plays an important role in securing your family’s financial future and providing peace of mind during uncertain times. Among LIC’s various insurance offerings, LIC Jeevan Kiran Plan 870 gained attention as a pure term insurance plan that also returned the premiums paid if the policyholder survived the policy term.
LIC Jeevan Kiran Plan 870
LIC Jeevan Kiran Plan 870 is a pure risk premium term assurance policy introduced by the Life Insurance Corporation of India (LIC). The plan was designed to provide financial protection to the insured’s family in case of the policyholder’s unfortunate death during the policy term.
What made this plan different from regular term insurance plans was its Return of Premium feature. If the life assured survived until the end of the policy term, the total premiums paid during the policy period were returned, subject to policy conditions.
The plan combined:
- Pure life insurance protection
- Affordable term coverage
- Return of premium benefit on survival
This made LIC Jeevan Kiran Plan 870 suitable for individuals looking for financial protection along with the comfort of receiving back the premiums paid at maturity.
Launch and Withdrawal Dates
- Launch Date: LIC Jeevan Kiran Plan 870 was introduced on 27 July 2023.
- Withdrawal Date: LIC officially discontinued the plan on 15 October 2025.
The plan remained available for more than two years and became popular among individuals seeking pure term insurance protection along with the benefit of premium return on survival.
Key Features of LIC Jeevan Kiran Plan 870
LIC Jeevan Kiran Plan 870 offered a combination of financial security and maturity value, making it different from standard term insurance policies.
Return of Premium Feature
This was a pure term insurance policy that refunded the total premiums paid if the policyholder survived the complete policy term.
Flexible Policy Duration
The policy term could be selected between 10 years and 35 years, allowing flexibility according to the insured’s financial planning requirements.
Minimum Life Cover
The minimum Basic Sum Assured under the plan was ₹50 lakh, ensuring strong financial protection for the family.
Entry Age Criteria
People between 18 years and 65 years of age were eligible to purchase the policy, subject to LIC’s underwriting guidelines.
Flexible Premium Payment Options
The plan allowed premium payments through different modes such as:
- Annual
- Half-yearly
- Quarterly
- Monthly
This flexibility helped policyholders manage premium payments comfortably according to their income pattern.
Death Benefit
If the life assured died during the policy term, the nominee received the applicable death benefit as per policy provisions.
Survival Benefit
On surviving the full policy term, the policyholder received a refund of the total premiums paid during the policy duration without any interest addition.
Tax Advantages
Premiums paid under LIC Jeevan Kiran Plan 870 were eligible for tax deductions under Section 80C of the Income Tax Act. In addition, maturity proceeds and death claim benefits qualified for tax exemptions under Section 10(10D), as per prevailing tax regulations.
LIC Jeevan Kiran Plan 870 – Eligibility Criteria
Before purchasing LIC Jeevan Kiran Plan 870, it is important to check whether you meet the eligibility conditions specified under the policy.
| Parameter | Minimum | Maximum |
|---|---|---|
| Entry Age | 18 Years | 65 Years |
| Maturity Age | 28 Years | 80 Years |
| Policy Term | 10 Years | 40 Years |
| Basic Sum Assured | ₹15,00,000 | No Limit |
| Premium Payment Term (Regular) | Same as Policy Term | Same as Policy Term |
| Premium Payment Term (Single) | Not Applicable | Not Applicable |
The plan offered flexibility in selecting the policy duration and sum assured according to the policyholder’s financial requirements and protection goals.
Benefits of LIC Jeevan Kiran Plan 870
Life Insurance Protection
The plan provided financial security to the nominee during the selected policy term. In case of the policyholder’s death, the nominee received the applicable death benefit according to the policy provisions.
Return of Premiums
One of the major highlights of LIC Jeevan Kiran Plan 870 was the Return of Premium feature. If the insured survived the entire policy term, LIC refunded the total premiums paid during the policy duration without any additional interest.
Tax Benefits
Premiums paid under the policy qualified for tax deductions under Section 80C of the Income Tax Act. In addition, maturity benefits and death claim proceeds were eligible for tax exemptions under Section 10(10D), subject to prevailing tax laws.
Flexible Premium Payment Modes
The plan allowed policyholders to pay premiums through multiple payment options, helping them manage payments conveniently according to their financial situation.
Loan Facility
The policy also provided a limited loan facility during the policy term to help policyholders manage urgent financial requirements, subject to LIC’s policy conditions.
How LIC Jeevan Kiran Plan 870 Worked
The working structure of the plan was simple and easy to understand:
- Choose the desired policy term and sum assured.
- Pay regular premiums throughout the selected policy term.
- If the policyholder dies during the policy term, the nominee receives the death benefit.
- If the policyholder survives till maturity, LIC refunds the total premiums paid.
The plan did not provide bonus additions or profit-sharing returns apart from the refund of premiums on survival.
LIC Jeevan Kiran Plan 870 Calculator
The LIC Jeevan Kiran Plan 870 Calculator is an online premium estimation tool that helps users calculate:
- Estimated premium payable
- Total premiums paid during the policy term
- Expected maturity refund amount
- Death benefit coverage
The calculator uses details such as:
- Age of the policyholder
- Policy term
- Sum assured
- Premium payment frequency
to provide quick and accurate premium estimates, helping users plan their insurance coverage more effectively.
Why Use the LIC Jeevan Kiran Plan 870 Calculator?
Quick Premium Estimation
The calculator helps you instantly estimate the premium amount based on your selected coverage, policy term, and payment mode.
Maturity Benefit Calculation
It provides an estimate of the total premium amount that will be refunded if the policyholder survives the entire policy duration.
Better Financial Planning
By showing premium commitments in advance, the calculator helps users plan their budget and evaluate affordability before purchasing the policy.
Easy Comparison of Coverage Options
Users can compare different policy terms and sum assured amounts to choose a suitable insurance plan according to their financial goals.
How to Use LIC Jeevan Kiran Plan 870 Calculator?
The calculator generally requires a few basic details from the user:
- Applicant’s age
- Policy term duration
- Desired sum assured
- Premium payment frequency
After entering the required information, the calculator displays:
- Premium amount payable
- Total premium payable during the term
- Estimated maturity refund amount
- Applicable death benefit coverage
Step-by-Step Process to Use the Calculator
Visit an LIC Premium Calculator Platform
You can access the calculator through LIC’s official website or trusted insurance comparison portals.
Enter Your Current Age
Provide your exact age to check eligibility and calculate premiums accurately.
Select the Policy Term
Choose a policy duration between 10 and 35 years based on your financial protection needs.
Enter the Required Sum Assured
Input the desired life cover amount. The minimum sum assured available under the plan is ₹50 lakh.
Choose Premium Payment Mode
Select your preferred premium payment frequency:
- Yearly
- Half-yearly
- Quarterly
- Monthly
Generate the Estimate
Click the calculate button to view the estimated premium and maturity benefit details.
Example Illustration
Suppose a 30-year-old individual selects:
- Policy Term: 20 Years
- Sum Assured: ₹50 Lakhs
- Premium Mode: Annual
The calculator will display:
- Estimated yearly premium
- Total premiums payable over 20 years
- Total premium amount refundable at maturity if the policyholder survives the term
This helps users clearly understand the policy cost and expected maturity return before purchasing.
Important Points While Using the Calculator
- Always provide correct personal and policy details for accurate estimates.
- Final premium rates may vary depending on underwriting, medical reports, lifestyle, and occupation.
- Calculator results are indicative and subject to LIC approval.
- GST and applicable taxes may be charged separately and are usually not included in calculator estimates.
Who Should Choose LIC Jeevan Kiran Plan 870?
This plan was suitable for individuals who wanted:
- Pure term insurance with return of premiums
- High life cover for family protection
- Tax-saving benefits
- Guaranteed premium refund on survival
- Flexible premium payment options
However, the plan may not suit people looking for:
- Market-linked investment returns
- Bonus-based wealth creation
- High liquidity during the policy term
How to Buy LIC Jeevan Kiran Plan 870?
Before its withdrawal, the policy could be purchased through:
- LIC official website
- LIC branch offices
- Authorised LIC agents
- Insurance advisors and brokers
The buying process generally included:
- Filling out the proposal form
- Completing medical examination requirements (if applicable)
- Paying the first premium
- Policy issuance after successful underwriting approval
Frequently Asked Questions
What is LIC Jeevan Kiran Plan 870?
LIC Jeevan Kiran Plan 870 was a pure term insurance policy offered by LIC that provided life insurance protection along with the return of premiums paid if the policyholder survived the entire policy term.
Is LIC Jeevan Kiran Plan 870 still available?
No, LIC discontinued the Jeevan Kiran Plan 870 in October 2025, and it is no longer available for new policy purchases.
What was the available policy term under this plan?
The plan offered flexible policy terms ranging from 10 years to 35 years.
What was the minimum sum assured?
The minimum Basic Sum Assured available under LIC Jeevan Kiran Plan 870 was ₹50 lakh.
Who could purchase LIC Jeevan Kiran Plan 870?
Individuals between 18 years and 65 years of age were eligible to buy the policy, subject to LIC’s underwriting conditions.
How could premiums be calculated for LIC Jeevan Kiran Plan 870?
Premiums could be estimated using the LIC Jeevan Kiran Plan 870 online calculator by entering details such as:
- Age
- Policy term
- Sum assured
- Premium payment frequency
The calculator then generated estimated premium amounts and maturity refund projections.
Conclusion
LIC Jeevan Kiran Plan 870 was a unique term insurance plan that combined pure life protection with the advantage of premium refund on survival. Although the plan was withdrawn in October 2025, it remained a preferred option for many individuals looking for risk protection without losing the premium amount paid during the policy term.
The LIC Jeevan Kiran Plan 870 Calculator served as a useful planning tool that helped users estimate premiums, compare coverage options, and understand maturity returns before purchasing the policy. For individuals interested in return-of-premium term insurance, understanding the features and calculations of this plan remains helpful even after its withdrawal.
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