LIC Jeevan Vriddhi Plan 808 – Overview

LIC Jeevan Vriddhi Plan 808 was a single-premium, non-linked traditional endowment plan that combined life insurance protection with guaranteed maturity benefits. The plan was designed for individuals seeking a one-time investment option that offered both financial security and assured returns over a fixed policy term.

Introduction to LIC Jeevan Vriddhi Plan 808

LIC Jeevan Vriddhi Plan 808 provided policyholders with life cover and guaranteed maturity benefits through a single premium payment. Along with the guaranteed maturity amount, the plan was also eligible for Loyalty Additions, subject to LIC’s declarations.

The plan gained popularity among investors looking for a simple savings-cum-insurance solution without the need for recurring premium payments.

Launch and Withdrawal Details

• Launch Date: 1 March 2012
• Withdrawal Date: 29 June 2012

Although the plan was available only for a limited period, existing policyholders continue to receive benefits according to the original policy terms and conditions.

Eligibility Criteria

Parameter	Details
Entry Age	8 years (completed) to 50 years (nearest birthday)
Policy Term	Fixed 10 years
Minimum Sum Assured	₹1,50,000
Maximum Sum Assured	No Limit
Minimum Single Premium	₹30,000 (in multiples of ₹1,000)
Premium Payment Mode	Single Premium
Maximum Maturity Age	60 years

Key Features of LIC Jeevan Vriddhi Plan 808

Single Premium Payment

The policy required only one premium payment at the beginning of the policy term. The minimum premium amount was ₹30,000, while there was no upper investment limit.

Life Cover

The death benefit under the policy was equal to five times the single premium paid, excluding any extra premium. This provided substantial life insurance protection during the policy term.

Guaranteed Maturity Benefit

On completion of the 10-year policy term, the policyholder became eligible for the Guaranteed Maturity Sum Assured. The maturity amount depended on the premium paid and the age at entry.

Loyalty Addition

The policy was eligible for Loyalty Additions, which could be declared by LIC based on its financial performance and experience. These additions enhanced the maturity benefits payable under the plan.

Loan Facility

Policyholders could avail themselves of a loan against the policy after completion of one policy year, subject to LIC’s prevailing rules and conditions.

Tax Benefits

Premiums paid under the plan qualified for tax benefits under Section 80C of the Income Tax Act, while maturity proceeds could be eligible for exemption under Section 10(10D), subject to applicable tax provisions.

Benefits of LIC Jeevan Vriddhi Plan 808

Financial Protection

The policy provided life cover equal to five times the single premium, helping protect the financial interests of the policyholder’s family.

Wealth Accumulation

The combination of guaranteed maturity benefits and potential Loyalty Additions helped build a corpus over the 10-year policy term.

Convenience

Since only one premium payment was required, policyholders did not have to worry about future premium commitments.

Investment Flexibility

With no maximum premium limit, investors could choose an investment amount according to their financial goals and capacity.

The plan was particularly suitable for individuals seeking a low-risk savings option, parents planning for future expenses, or investors looking for guaranteed returns along with insurance coverage.

Understanding the LIC Jeevan Vriddhi Plan 808 Calculator

The LIC Jeevan Vriddhi Plan 808 Calculator is a useful tool that helps policyholders estimate the key benefits available under the plan. By entering basic policy details, users can get an approximate idea of the maturity amount, death benefit, loyalty additions, and other policy values.

What the Calculator Estimates

The calculator is generally used to project:

• Basic Sum Assured
• Maturity Benefit
• Loyalty Additions (estimated)
• Death Benefit
• Single Premium Requirement

How the Calculator Works

To generate estimates, the calculator typically requires the following information:

• Age of the policyholder at entry
• Single premium amount invested
• Policy term (fixed at 10 years)

Based on these details, the calculator provides:

• Basic Sum Assured, generally calculated as five times the single premium
• Guaranteed Maturity Sum Assured as per LIC’s plan provisions
• Estimated Loyalty Addition based on historical assumptions
• Total Maturity Benefit, including applicable additions
• Death Benefit payable during the policy term

Advantages of Using the Calculator

Using the calculator can help policyholders:

• Estimate potential maturity proceeds before investing
• Understand expected returns from the policy
• Compare benefits with other LIC plans
• Evaluate death benefits and loan eligibility
• Plan long-term financial goals more effectively

Sample Illustration

Consider the following example:

• Age at Entry: 30 years
• Single Premium: ₹50,000

Based on these inputs, the calculator may estimate:

• Basic Sum Assured: ₹2,50,000
• Guaranteed Maturity Sum Assured: Approximately ₹60,000
• Estimated Loyalty Addition: Around ₹6,000
• Total Maturity Benefit: Approximately ₹66,000

The actual values depend on LIC’s applicable rates and Loyalty Additions declared during the policy term.

Accessing the LIC Jeevan Vriddhi Plan 808 Calculator

Since LIC Jeevan Vriddhi Plan 808 was withdrawn from sale, an official online calculator may no longer be available. However, policyholders can still obtain estimates through:

• Archived LIC plan calculators available on insurance websites
• Financial planning portals maintaining legacy LIC calculators
• LIC agents using official benefit tables and illustrations

Additional Plan Information

Surrender Value

The policy acquires a surrender value after completion of one policy year. If the policyholder chooses to exit before maturity, the surrender value is paid according to LIC’s prevailing rules and conditions.

No Maximum Investment Limit

One of the distinguishing features of the plan was the absence of an upper limit on investment. Investors could choose higher premium amounts according to their financial objectives, subject to plan conditions.

Fixed Policy Term

The policy term under LIC Jeevan Vriddhi Plan 808 is fixed at 10 years. On maturity, the policyholder receives the Guaranteed Maturity Sum Assured together with any applicable Loyalty Additions in a lump-sum payment.

Why Choose LIC Jeevan Vriddhi Plan 808?

LIC Jeevan Vriddhi Plan 808 offered a combination of life insurance protection and guaranteed maturity benefits through a single premium payment. Backed by LIC’s long-standing reputation, the plan appealed to individuals seeking a simple investment option with life cover and assured returns.

Some of its key advantages included:

• One-time premium payment with no recurring premium obligations.
• Guaranteed maturity benefits along with the possibility of Loyalty Additions.
• Death benefit equal to five times the single premium paid.
• Loan facility available after completion of one policy year.
• Tax benefits under applicable provisions of the Income Tax Act.
• A fixed 10-year policy term that provided clarity regarding investment duration and expected benefits.

Important Points to Remember

• LIC Jeevan Vriddhi Plan 808 was withdrawn from sale on 29 June 2012 and is not available for new purchases.
• Loyalty Additions were dependent on LIC’s performance and were not guaranteed.
• Maturity proceeds could qualify for tax exemption under Section 10(10D), subject to prevailing tax laws.
• The minimum single premium under the plan was ₹30,000.
• Since the policy term was fixed at 10 years, surrendering the policy before maturity could affect the overall returns.

Comparison with LIC Jeevan Vaibhav Plan 809

Feature	LIC Jeevan Vriddhi 808	LIC Jeevan Vaibhav 809
Entry Age	8 to 50 years	8 to 65 years
Minimum Sum Assured	₹1,50,000	₹2,00,000
Maximum Sum Assured	No Limit	No Limit
Death Benefit	5 Times Single Premium	Sum Assured as per policy terms
Policy Term	10 Years	10 Years
Premium Payment	Single Premium	Single Premium
Loan Facility	Available After 1 Year	Available After 1 Year

Frequently Asked Questions

What is LIC Jeevan Vriddhi Plan 808?

LIC Jeevan Vriddhi Plan 808 was a single-premium, non-linked traditional endowment plan that provided life insurance coverage along with guaranteed maturity benefits over a fixed policy term of 10 years.

When was LIC Jeevan Vriddhi Plan 808 launched?

The plan was introduced by LIC on 1 March 2012.

Is LIC Jeevan Vriddhi Plan 808 still available?

No. The plan was withdrawn from sale on 29 June 2012 and is no longer available for new customers.

What was the minimum entry age?

The minimum age at entry was 8 years (completed).

What premium payment option was available?

The plan required only a single premium payment. The minimum premium amount was ₹30,000.

What benefits were payable at maturity?

On completion of the policy term, the policyholder received the Guaranteed Maturity Sum Assured along with any applicable Loyalty Additions declared by LIC.

Conclusion

LIC Jeevan Vriddhi Plan 808 was a single-premium endowment plan that combined life insurance protection with guaranteed maturity benefits over a fixed 10-year term. Its simple structure, one-time premium payment, loan facility, and potential Loyalty Additions made it an attractive option for investors seeking stability and insurance coverage in a single product. Although the plan is no longer available for purchase, it continues to remain relevant for existing policyholders and as a reference among LIC’s historical single-premium offerings.

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