| Child Age at Entry | |
|---|---|
| Policy Term | |
| Child Age at Maturity | |
| Sum Assured | |
| Premium Payment Mode | |
| Reference Premium | |
| Premium Formula | |
| Premium Payable |
| Basic Sum Assured | |
|---|---|
| Guaranteed Base Maturity | |
| Scenario 1 Variable Benefit (6%) | |
| Scenario 1 Total Benefit | |
| Scenario 2 Variable Benefit (10%) | |
| Scenario 2 Total Benefit |
| End Year | Total Premium Paid | Guaranteed | Variable 6% | Total 6% | Variable 10% | Total 10% |
|---|
LIC Jeevan Kishore Plan 102: Features, Benefits & Calculator
Life Insurance Corporation (LIC) of India has introduced numerous insurance products over the years to address the financial protection and savings needs of individuals and families. One such child-focused product is LIC Jeevan Kishore Plan 102, which was designed to help parents prepare financially for their child’s future.
Introduction to LIC Jeevan Kishore Plan 102
LIC Jeevan Kishore Plan 102 is a participating endowment plan with a limited premium-paying structure. The plan combines life insurance protection with savings and is intended to help parents build funds for important future requirements such as education, marriage, and other major milestones.
Under the plan, premiums are paid for a specified period while the insurance coverage continues according to the selected policy term. If the child survives until maturity, the applicable maturity benefit along with bonuses is payable as per the policy conditions.
Launch and Withdrawal Details
LIC Jeevan Kishore Plan 102 was introduced in early 2024 as part of LIC’s range of child-oriented insurance products. The plan was later withdrawn from new sales on June 30, 2025.
Existing policyholders are not affected by the withdrawal and continue to receive benefits according to the terms and conditions applicable to their policies.
- Launch: Early 2024
- Withdrawal from new sales: June 30, 2025
- Existing policies: Continue according to the original policy terms
Key Features of LIC Jeevan Kishore Plan 102
Limited Premium Payment
The plan allows premiums to be paid for a predetermined period rather than throughout the entire policy duration. Depending on the selected option, the premium-paying period may vary.
Life Insurance Protection
The policy provides life cover for the insured child during the applicable policy term. This offers an additional layer of financial protection for the family.
Maturity Benefit
If the child survives until the end of the policy term, the maturity amount becomes payable according to the policy conditions. Since the plan is participating, applicable bonuses may also increase the final payout.
Loan Facility
A loan facility may be available against the policy after the policy acquires the required value, subject to LIC’s applicable rules and conditions.
Participation in LIC’s Profits
As a participating plan, the policy may receive bonuses declared by LIC. These bonuses can increase the overall maturity benefit, although bonus amounts are not fixed in advance.
Tax Benefits
Premiums and policy benefits may qualify for tax benefits under applicable provisions of the Income Tax Act, subject to prevailing tax rules and eligibility conditions.
Benefits of LIC Jeevan Kishore Plan 102
The major advantages associated with the plan include:
- Helps parents prepare financially for their child’s future.
- Combines insurance protection with a savings component.
- Provides a maturity amount that can be used for education, marriage, or other major expenses.
- Offers the possibility of bonus additions because it is a participating plan.
- Provides flexibility in premium payment duration.
- A loan facility can provide financial liquidity during the policy period, subject to applicable conditions.
Eligibility and Policy Details
The key eligibility details provided for LIC Jeevan Kishore Plan 102 are:
| Parameter | Eligibility / Details |
|---|---|
| Plan Name | LIC Jeevan Kishore Plan 102 |
| Entry Age | Child below 12 years |
| Policy Term | 15 to 35 years |
| Maturity Age | 20 to 45 years |
| Sum Assured | ₹50,000 to ₹40,00,000 |
| Proposer | Parent or grandparent |
| Premium Mode | Yearly, half-yearly, quarterly, monthly, or single |
How LIC Jeevan Kishore Plan 102 Works
The basic structure of the plan is straightforward. A parent or eligible proposer selects the required Sum Assured, policy term, and premium-paying period and then pays premiums according to the selected payment schedule.
The child remains covered under the policy during the applicable term. If the insured child dies during the policy period, the nominee receives the applicable death benefit along with any eligible accrued benefits according to the policy conditions.
If the child survives until maturity, the maturity benefit becomes payable. Since this is a participating plan, applicable bonuses may also be included in the final payout.
What Is the LIC Jeevan Kishore Plan 102 Calculator?
The LIC Jeevan Kishore Plan 102 Calculator is a tool intended to help estimate the premium and potential policy benefits based on selected policy details.
Generally, the calculation can involve factors such as:
- Child’s age
- Desired Sum Assured
- Policy term
- Premium-paying term
- Premium payment frequency
The calculator can make it easier for parents to understand the approximate financial commitment and compare different policy combinations.
How to Use the LIC Jeevan Kishore Plan 102 Calculator
You can follow these basic steps to understand how the calculation works:
1. Enter the Sum Assured
Start by selecting the amount of insurance coverage required for your child.
2. Select the Policy Term
Choose an appropriate policy duration from the available options.
3. Select the Premium-Paying Term
Enter the period for which you intend to pay premiums under the selected plan option.
4. Enter the Child’s Age
Provide the child’s current age, as age is an important factor in determining the premium.
5. Select the Premium Mode
Choose the preferred payment frequency, such as monthly, quarterly, half-yearly, yearly, or single premium, where applicable.
6. Calculate the Premium
The calculator processes the entered information and provides an estimated premium amount.
7. Check the Maturity Benefit
The tool can also help provide an estimate of the maturity amount, including applicable bonus assumptions where supported by the calculator.
Advantages of Using the Calculator
A calculator can make financial planning easier by helping parents:
- Estimate premiums before committing to a policy.
- Plan their yearly or monthly budget.
- Compare different Sum Assured options.
- Understand how policy duration affects premiums.
- Estimate potential maturity benefits.
- Make a more informed financial decision.
Hypothetical Example
Suppose a parent wants to plan a policy for a 5-year-old child, with a Sum Assured of ₹5,00,000, a policy term of 20 years, and a selected premium-paying period of 12 years.
A suitable calculator would use these details to estimate the premium payable under the selected configuration. It could also provide an indicative maturity value, including applicable bonuses where relevant.
The actual premium and benefits should always be confirmed from the original policy terms or official LIC documentation rather than relying solely on an online estimate.
Important Things to Consider
Before considering information related to LIC Jeevan Kishore Plan 102, keep the following points in mind:
- The plan was withdrawn from new sales on June 30, 2025.
- New customers cannot purchase the withdrawn version of the plan.
- Existing policyholders continue according to the terms of their policies.
- Bonus amounts under participating plans are subject to LIC’s declarations and are not necessarily guaranteed.
- Loan, surrender, and other policy benefits depend on the applicable policy conditions.
- Tax treatment depends on the prevailing income-tax rules.
- Always verify the latest information with LIC before making any financial decision.
Alternatives for Child-Focused Financial Planning
Since LIC Jeevan Kishore Plan 102 is no longer available for new sales, individuals looking for child-oriented insurance products may explore other LIC offerings.
Depending on their requirements, options such as LIC New Children’s Money Back Plan, LIC Jeevan Tarun, and suitable endowment plans may be considered. The features, eligibility conditions, premiums, and benefits can differ, so comparison is important before choosing a policy.
Frequently Asked Questions
What is LIC Jeevan Kishore Plan 102?
LIC Jeevan Kishore Plan 102 was a child-focused participating endowment plan that combined life insurance protection with savings and potential bonus benefits.
When was LIC Jeevan Kishore Plan 102 launched?
The plan was introduced in early 2024.
Is LIC Jeevan Kishore Plan 102 available for new customers?
No. The plan was withdrawn from new sales on June 30, 2025. Existing policyholders continue to receive benefits according to their policy terms.
What was the eligible age of the child?
According to the provided plan details, the child had to be below 12 years of age at entry.
What policy terms were available?
The stated policy term range was 15 to 35 years.
Who could act as the proposer?
A parent or grandparent could act as the proposer under the stated eligibility details.
What premium payment modes were available?
The provided information lists monthly, quarterly, half-yearly, yearly, and single premium options.
Does the plan provide bonuses?
Yes. As a participating plan, it could receive bonuses declared by LIC, which could enhance the maturity benefit.
Conclusion
LIC Jeevan Kishore Plan 102 was designed to combine child-focused life insurance protection with long-term savings. Its participating structure provided the possibility of bonus additions, while the maturity benefit could help meet important financial goals such as education and other future expenses.
Although the plan was withdrawn from new sales on June 30, 2025, existing policyholders can continue according to their original policy conditions. For those researching similar products today, comparing currently available LIC child and savings plans is important.
The LIC Jeevan Kishore Plan 102 Calculator can also be useful for understanding how factors such as the child’s age, Sum Assured, policy term, and premium-paying period influence the estimated premium and potential maturity benefit.
Note: All images and videos used on this website are sourced from Google or YouTube. If you have any issues regarding any image or video, please contact us via email through our official website.
If you find any problem with this post or wish to request its removal, please contact us through:
https://licpolicycalculator.in/contact-us
Comments 0