Key Highlights of LIC Jeevan Tarang Plan 178

• Annual survival income equal to 5.5% of the Basic Sum Assured after completion of the accumulation period.
• Life insurance protection continues up to age 100 or until the death of the life assured, whichever occurs earlier.
• Simple Reversionary Bonuses accumulate during the accumulation phase of the policy.
• Loyalty Additions may be payable at death claim or maturity, subject to LIC's declarations.
• Eligible for tax benefits under Sections 80C and 10(10D) of the Income Tax Act as per prevailing tax laws.

How LIC Jeevan Tarang Plan 178 Works

• Select an accumulation period of 10, 15, or 20 years and pay premiums during this period.
• Accrued bonuses are accumulated throughout the chosen accumulation phase.
• After the accumulation period ends, annual survival benefits equal to 5.5% of the Sum Assured become payable.
• These yearly payouts continue throughout the policyholder's lifetime.
• On death or survival up to age 100, the Basic Sum Assured along with applicable Loyalty Additions is paid.

LIC Jeevan Tarang Plan 178 Calculator

LIC Jeevan Tarang Plan 178 was a participating whole-life insurance plan introduced by the Life Insurance Corporation of India (LIC). The policy was designed to provide lifelong financial protection, annual income benefits, and bonus participation under a single insurance solution. Its distinctive structure made it one of LIC's most unique traditional life insurance products.

Launch Date and Withdrawal Date

LIC Jeevan Tarang Plan 178 was launched on 7 March 2006. The plan remained available for several years before being discontinued by LIC. New sales of the policy were officially stopped on 1 January 2014.

Although the plan is no longer available for new purchases, existing policyholders continue to receive benefits according to the original policy conditions.

What is LIC Jeevan Tarang Plan 178?

LIC Jeevan Tarang Plan 178 is a participating whole-life insurance policy that combines life cover with bonus accumulation and regular annual income benefits. The plan allows policyholders to build wealth during a selected accumulation period and then receive yearly survival benefits for the remainder of their life.

As a with-profits policy, it participates in LIC's surplus distribution through Simple Reversionary Bonuses and Loyalty Additions.

Main Features of LIC Jeevan Tarang Plan 178

Whole Life Insurance Protection

The policy provides insurance coverage throughout the lifetime of the life assured, subject to a maximum age of 100 years.

Choice of Accumulation Period

Policyholders can choose an accumulation period of:

• 10 Years
• 15 Years
• 20 Years

Premiums are paid during this selected period while bonuses continue to accumulate.

Annual Survival Benefits

After completion of the accumulation period, LIC pays an annual survival benefit equal to 5.5% of the Basic Sum Assured.

These payments continue every year until the death of the life assured or attainment of age 100.

Bonus Participation

Simple Reversionary Bonuses are declared by LIC during the accumulation period and become part of the policy benefits.

Loyalty Additions may also be payable at maturity or death, depending on LIC's bonus declarations and policy conditions.

Flexible Premium Payment Modes

The plan offers multiple premium payment options:

• Yearly
• Half-Yearly
• Quarterly
• Monthly
• Single Premium

Loan Facility

Policyholders can avail loan facilities against the surrender value of the policy, subject to LIC's rules and conditions.

Optional Rider Benefits

Additional protection can be obtained through optional riders such as:

• Term Assurance Rider
• Accidental Death Benefit Rider
• Critical Illness Rider

Eligibility Criteria

• Minimum Entry Age: 0 years (newborn child eligible).
• Maximum Entry Age: 60 years (nearest birthday).
• Maximum Age for Life Cover: 100 years.
• Minimum Basic Sum Assured: ₹1,00,000.
• No maximum limit on Sum Assured, subject to LIC underwriting rules.
• Premium Payment Options: Single Premium or Regular Premium.
• Accumulation Period Choices: 10 years, 15 years, or 20 years.

Eligibility Conditions for LIC Jeevan Tarang Plan 178 Calculator

Particulars	Details
Minimum Entry Age	0 Years (Nearest Birthday)
Maximum Entry Age	60 Years (Nearest Birthday)
Accumulation Period	10, 15, or 20 Years
Minimum Age at Completion of Accumulation Period	18 Years (Last Birthday)
Maximum Premium Ceasing Age	70 Years (Nearest Birthday)
Maximum Life Cover Age	100 Years
Minimum Sum Assured	₹1,00,000
Maximum Sum Assured	No Limit (In Multiples of ₹5,000)
Premium Payment Term	Single Premium or Regular Premium (6 Years / 10 Years / 15 Years / 20 Years)
Premium Payment Modes	Yearly, Half-Yearly, Quarterly, Monthly, SSS, Single Premium

How LIC Jeevan Tarang Plan 178 Works

Premium Payment and Accumulation Phase

The policyholder selects an accumulation period of 10, 15, or 20 years and pays premiums according to the chosen payment option. During this phase, no survival benefits are payable; however, Simple Reversionary Bonuses continue to accumulate on the Basic Sum Assured every year.

This accumulation period helps build the policy's value through bonus additions while maintaining life insurance protection.

Annual Survival Income and Final Benefit

Once the accumulation period is completed, LIC begins paying an annual survival benefit equal to 5.5% of the Basic Sum Assured.

These yearly payments continue throughout the life of the policyholder or until attainment of age 100, whichever occurs earlier.

Upon survival up to age 100 or death after the accumulation period, the policyholder or nominee becomes eligible to receive the Basic Sum Assured along with applicable Loyalty Additions.

Death Benefit

Death During Accumulation Period

If the life assured passes away before completion of the accumulation period, the nominee receives:

• Basic Sum Assured
• Accrued Simple Reversionary Bonuses

Death After Accumulation Period

If death occurs after completion of the accumulation period, the nominee receives:

• Basic Sum Assured
• Applicable Loyalty Additions

Additional Benefits

Tax Advantages

Premiums paid under the policy qualify for tax deductions under Section 80C, while eligible maturity and death claim proceeds may enjoy tax exemptions under Section 10(10D) of the Income Tax Act, subject to prevailing tax laws.

Loan Facility

The policy offers a loan facility against its surrender value, providing liquidity during financial emergencies without requiring policy termination.

Bonus and Loyalty Addition Benefits

LIC Jeevan Tarang Plan 178 is a participating policy and shares in LIC's profits through bonus declarations.

Simple Reversionary Bonus

LIC declares Simple Reversionary Bonuses annually based on its financial performance. These bonuses are expressed per ₹1,000 of Sum Assured and continue to accumulate throughout the accumulation period.

Historically, bonus rates have generally ranged between ₹43 and ₹49 per ₹1,000 Sum Assured, depending on the selected accumulation period and LIC's bonus declarations.

For example, if the Basic Sum Assured is ₹10,00,000 and LIC declares a bonus rate of ₹49 per ₹1,000 Sum Assured, the annual bonus credited would be approximately ₹49,000.

Loyalty Additions

Loyalty Additions are one-time additional benefits that may be declared by LIC and become payable upon maturity or death after completion of the accumulation period.

These additions can substantially increase the overall value of the policy and are determined based on LIC's experience and valuation results.

Using the LIC Jeevan Tarang Plan 178 Calculator

The LIC Jeevan Tarang Plan 178 Calculator helps policyholders estimate various policy values and future benefits based on age, Sum Assured, accumulation period, and premium payment mode.

The Calculator Can Estimate

• Premium payable for selected Sum Assured and policy term.
• Projected Simple Reversionary Bonus accumulation.
• Expected Loyalty Additions.
• Annual survival benefits after completion of the accumulation period.
• Maturity benefits payable at age 100.
• Death benefits under different policy scenarios.
• Estimated surrender value where applicable.

Using the calculator helps policyholders understand expected returns, annual income benefits, and long-term policy value before making financial decisions.

How the LIC Jeevan Tarang Plan 178 Calculator Works

The LIC Jeevan Tarang Plan 178 Calculator helps policyholders estimate premiums, bonus accumulation, survival benefits, maturity proceeds, and death benefits based on the policy details entered.

Step 1: Enter Policy Information

Users need to provide basic details such as:

• Age of the life assured
• Basic Sum Assured
• Accumulation Period (10, 15, or 20 years)
• Premium Payment Option
• Premium Payment Mode (Yearly, Half-Yearly, Quarterly, Monthly, or Single Premium)

Step 2: Premium Estimation

Based on the selected policy parameters, the calculator estimates the premium payable using applicable LIC premium rates for the chosen plan option.

Step 3: Bonus Projection

The calculator projects the Simple Reversionary Bonuses that may accumulate during the accumulation period using prevailing or assumed bonus rates.

Step 4: Benefit Calculation

The tool calculates expected policy benefits, including:

• Annual Survival Benefits
• Projected Bonus Value
• Maturity Benefits
• Death Benefits
• Potential Loyalty Additions

Advantages of Using the LIC Jeevan Tarang Calculator

• Helps determine an appropriate Sum Assured based on financial goals.
• Provides an estimate of future policy benefits.
• Projects annual survival income after the accumulation phase.
• Assists in comparing LIC Jeevan Tarang with other insurance products.
• Supports long-term financial planning and retirement preparation.

Several insurance portals and LIC-related websites provide online calculators that can be used to estimate policy values quickly and conveniently.

Illustrative Calculation

Consider the following example:

Particulars	Value
Age at Entry	35 Years
Basic Sum Assured	₹1,00,000
Accumulation Period	10 Years
Premium Option	Single Premium

Based on historical illustrations:

• Approximate Single Premium: ₹75,600
• Estimated Bonus Accumulation During 10 Years: ₹88,000
• Annual Survival Benefit After Accumulation: ₹5,500
• Maturity Benefit: Basic Sum Assured plus applicable Loyalty Additions

If death occurs during the accumulation period, the nominee generally receives the Basic Sum Assured along with accrued Simple Reversionary Bonuses.

Important Policy Conditions

Grace Period

• 30 Days for Yearly, Half-Yearly, and Quarterly modes.
• 15 Days for Monthly premium mode.

Surrender Value

The policy acquires surrender value according to LIC rules after completion of the required premium-paying period. The calculator can provide estimated surrender values for reference purposes.

Policy Revival

A lapsed policy may generally be revived during the accumulation period subject to LIC's revival conditions and payment of outstanding dues.

Free-Look Period

If the policyholder is not satisfied with the policy terms, the policy may be returned within the applicable free-look period as per LIC guidelines.

Loan Facility

Policy loans can be availed against the surrender value of the policy, subject to LIC's prevailing loan rules and interest rates.

Summary of Benefits of LIC Jeevan Tarang Plan 178

Feature	Details
Plan Type	Participating Whole Life Insurance Plan
Minimum Sum Assured	₹1,00,000
Maximum Sum Assured	No Upper Limit
Accumulation Period	10, 15, or 20 Years
Premium Option	Regular Premium or Single Premium
Annual Survival Benefit	5.5% of Basic Sum Assured
Bonus Benefit	Simple Reversionary Bonus
Loyalty Addition	Payable on Death or Maturity
Entry Age	0 to 60 Years
Maximum Cover Age	100 Years
Loan Facility	Available
Optional Riders	Term Assurance, Accidental Death, Critical Illness
Tax Benefits	Available under Sections 80C and 10(10D)

Frequently Asked Questions

What is LIC Jeevan Tarang Plan 178?

LIC Jeevan Tarang Plan 178 is a participating whole-life insurance policy that offers life cover, annual survival benefits, bonus accumulation, and maturity benefits under a single plan.

When was LIC Jeevan Tarang Plan 178 introduced and discontinued?

The plan was launched on 7 March 2006 and withdrawn from new sales on 1 January 2014.

What is the eligible age range for this plan?

The minimum entry age is 0 years, while the maximum entry age is 60 years.

What premium payment options are available?

Policyholders can choose a Single Premium option or Regular Premium terms linked to the selected accumulation period.

What annual benefit does the plan provide?

After completion of the accumulation period, the policy pays an annual survival benefit equal to 5.5% of the Basic Sum Assured.

How are bonuses credited under the policy?

Simple Reversionary Bonuses are declared by LIC during the accumulation phase and become payable according to policy terms.

Conclusion

LIC Jeevan Tarang Plan 178 was one of LIC's most distinctive whole-life insurance products, combining lifelong protection, annual income, bonus participation, and maturity benefits. Although the plan has been withdrawn for new sales, it continues to offer valuable benefits to existing policyholders.

A LIC Jeevan Tarang Plan 178 Calculator helps estimate premiums, bonuses, annual survival benefits, maturity proceeds, and death claims, enabling policyholders to better understand their policy value and future financial benefits.

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