Age: 18-50 Years
Policy Term: 12-30 Years
Maximum Maturity Age: 70 Years
Bonus: Simple Reversionary Bonus + Final Additional Bonus
Annual Premium
Total Premium Paid
Maturity (6% Bonus)
Maturity (10% Bonus)
Death Benefit
Accidental Benefit
Surrender Value
Official LIC Table 91 illustration shows ₹4,246 annual premium for ₹1,00,000 SA, Age 35, Term 25 Years.
This calculator scales premium proportionately and estimates bonus scenarios based on LIC illustration values.
Future bonuses are not guaranteed.
LIC New Janaraksha Plan 91 Calculator
Key Highlights of LIC New Janaraksha Plan 91
- Participating endowment insurance plan offering bonus benefits.
- Life insurance protection begins from the first premium payment.
- Death Benefit includes the Basic Sum Assured along with accrued bonuses and Final Additional Bonus, wherever applicable.
- Maturity Benefit consists of the Basic Sum Assured plus vested bonuses and eligible Final Additional Bonus.
- Built-in Accidental Death Benefit available up to ₹5 lakh.
- Permanent disability benefit payable through monthly installments over a period of 10 years.
- Future premium payments may be waived in case of qualifying accidental disability.
- Life cover may continue for up to three years after premium discontinuance, subject to policy conditions.
- Loan facility available once the policy acquires surrender value.
- Eligible for tax benefits under Sections 80C and 10(10D) of the Income Tax Act, subject to prevailing tax laws.
- Participates in LIC profits through Simple Reversionary Bonuses declared periodically.
- Final Additional Bonus may be payable for long-duration policies meeting eligibility conditions.
- Suitable for individuals seeking insurance protection along with disciplined long-term savings.
Important Information
- The calculator provides estimated premium figures based on standard assumptions and available policy information.
- Actual premiums may differ depending on underwriting decisions, age, health status, and other risk factors.
- GST and other applicable taxes are not included in estimated premium calculations.
- Bonus rates are not guaranteed and depend on LIC's future performance and declarations.
- LIC New Janaraksha Plan 91 has been withdrawn and is no longer available for new purchases.
- Premium illustrations are indicative only and should not be treated as official quotations.
Overview of LIC New Janaraksha Plan 91
LIC New Janaraksha Plan 91 was a traditional participating endowment insurance policy designed to combine life insurance protection with long-term savings benefits. The policy offered financial security to the insured's family in the event of an unfortunate death during the policy term while rewarding survival through maturity benefits enhanced by bonus additions.
As a participating plan, policyholders became eligible for bonuses declared by LIC, helping increase the overall policy value over time.
Understanding LIC New Janaraksha Plan 91
The plan offered life insurance coverage for policy terms ranging from 12 to 30 years. During this period, policyholders paid regular premiums and accumulated bonus benefits declared by LIC.
Upon maturity, the policyholder received the Basic Sum Assured together with accrued bonuses. In the event of death during the policy term, the nominee became entitled to the Death Benefit, including bonus accumulations and any applicable Final Additional Bonus.
Major Features of LIC New Janaraksha Plan 91
Entry Age
- Minimum Entry Age: 18 Years
- Maximum Entry Age: 50 Years (Nearest Birthday)
Maximum Maturity Age
- 70 Years
Policy Duration
- Minimum Policy Term: 12 Years
- Maximum Policy Term: 30 Years
Premium Payment Term
The premium-paying term is generally equal to the selected policy duration.
Sum Assured Options
- Minimum Sum Assured: ₹50,000
- Maximum Sum Assured: Up to ₹10,00,000 in specified multiples
Premium Payment Modes
Policyholders could pay premiums through:
- Yearly Mode
- Half-Yearly Mode
- Quarterly Mode
- Monthly Mode
Bonus Participation
The plan qualified for:
- Simple Reversionary Bonus
- Final Additional Bonus (subject to eligibility)
Death Benefit
In the event of the life assured's death during the policy term, LIC paid the Basic Sum Assured together with accrued bonuses and any applicable Final Additional Bonus.
Maturity Benefit
On successful completion of the policy term, the policyholder received the Sum Assured along with accumulated bonus benefits.
Accidental Benefit Feature
The policy included an in-built Accidental Benefit Rider that provided:
- Additional accidental death cover up to ₹5 lakh.
- Monthly disability benefits payable over a period of 10 years.
- Waiver of future premiums in specified disability cases.
Surrender Benefit
The policy acquired surrender value after completion of three policy years.
The Guaranteed Surrender Value was generally calculated as 30% of premiums paid, excluding the first year's premium. LIC could also offer a higher Special Surrender Value depending on prevailing factors.
Tax Benefits
The policy offered tax advantages subject to applicable laws:
- Premiums qualified for deduction under Section 80C.
- Eligible death and maturity proceeds qualified for exemption under Section 10(10D).
Launch and Discontinuation of LIC New Janaraksha Plan 91
LIC New Janaraksha Plan 91 was introduced as a savings-oriented endowment policy intended to provide protection and wealth accumulation under a single plan.
Launch Period
The policy was available for sale during the early years of the 2010s and became popular among individuals seeking traditional insurance solutions.
Withdrawal Date
LIC officially discontinued the plan from 1 January 2014.
Although new policies are no longer issued under this plan, existing policyholders continue to enjoy the benefits and guarantees according to their original policy contracts.
Why LIC New Janaraksha Plan 91 Was Popular
The plan gained popularity because it offered:
- Life insurance protection and savings in one product.
- Participation in LIC's bonus declarations.
- Built-in accidental coverage without requiring a separate rider.
- Extended risk cover under certain premium discontinuance situations.
- Flexible premium payment options.
- Tax-saving opportunities.
- Long-term financial security for policyholders and their families.
For many policyholders, LIC New Janaraksha Plan 91 served as a dependable combination of protection, savings, and bonus-linked wealth creation.
Eligibility Criteria for LIC New Janaraksha Plan 91
LIC New Janaraksha Plan 91 was designed for individuals seeking long-term financial protection along with disciplined savings. To purchase the policy, applicants were required to satisfy the eligibility conditions specified by LIC.
Basic Eligibility Requirements
- Entry Age: 18 to 50 years
- Policy Term: Between 12 and 30 years
- Minimum Sum Assured: As prescribed by LIC
- Premium Payment Mode: Regular premium throughout the policy term
The plan was particularly suitable for individuals looking for life insurance protection coupled with long-term savings benefits and bonus participation.
Eligibility Details of LIC New Janaraksha Plan 91
| Criteria | Minimum | Maximum |
|---|---|---|
| Entry Age | 18 Years | 50 Years |
| Policy Term / Premium Paying Term | 12 Years | 30 Years |
| Maturity Age | — | 70 Years |
| Basic Sum Assured | ₹30,000 | ₹10,00,000 |
Benefits of LIC New Janaraksha Plan 91
LIC New Janaraksha Plan 91 offered a combination of insurance protection, savings accumulation, accidental coverage, and bonus participation, making it a comprehensive traditional life insurance policy.
Death Benefit
In the unfortunate event of the policyholder's death during the policy term, LIC pays the nominee the Basic Sum Assured together with all vested bonuses and any applicable Final Additional Bonus.
This benefit helps provide financial security to the family and assists in meeting future financial obligations.
Maturity Benefit
If the policyholder survives until the end of the selected policy term, LIC pays a lump-sum maturity amount consisting of:
- Basic Sum Assured
- Accrued Reversionary Bonuses
- Eligible Final Additional Bonus
The maturity benefit serves as a long-term savings corpus accumulated through disciplined premium payments.
Accidental Death and Disability Benefit
An important feature of the plan is its built-in accident protection.
Accidental Death Benefit
If death occurs due to an accident, an additional amount of up to ₹5 lakh may become payable, subject to policy conditions.
Permanent Disability Benefit
In the case of permanent disability resulting from an accident:
- An amount equivalent to the applicable benefit is paid in monthly installments over 10 years.
- Future premium payments may be waived, helping reduce the financial burden on the insured.
Bonus Benefits
As a participating insurance plan, LIC New Janaraksha Plan 91 qualifies for bonus declarations made by LIC.
Simple Reversionary Bonus
LIC may declare Simple Reversionary Bonuses periodically, which accumulate during the policy term and increase the overall policy value.
Final Additional Bonus
Policies that remain in force for longer durations may qualify for a Final Additional Bonus, further enhancing maturity and death claim payouts.
Surrender Benefit
The policy acquires surrender value after completion of three policy years.
Guaranteed Surrender Value
The Guaranteed Surrender Value is generally equal to 30% of the premiums paid, excluding the first year's premium.
Special Surrender Value
LIC may offer a Special Surrender Value that is higher than the Guaranteed Surrender Value depending on prevailing factors and policy conditions.
This feature provides policyholders with financial flexibility in case they need to discontinue the policy before maturity.
Tax Advantages
The plan offers tax-saving benefits subject to prevailing tax laws.
- Premiums paid may qualify for deduction under Section 80C of the Income Tax Act.
- Eligible maturity and death claim proceeds may qualify for exemption under Section 10(10D).
These benefits help improve the overall tax efficiency of the policy.
How to Use the LIC New Janaraksha Plan 91 Calculator
The LIC New Janaraksha Plan 91 Calculator is a convenient planning tool that helps estimate premiums, maturity values, and policy benefits before making an investment decision.
Information Required for Calculation
The calculator generally requires:
- Age of the life assured
- Basic Sum Assured
- Selected policy term
- Premium payment mode
Benefits of Using the Calculator
After entering the required details, the calculator provides estimates of:
- Premium payable
- Projected maturity value
- Expected bonus accumulation
- Death benefit illustration
- Overall policy benefits
Why Use the Calculator?
Using the calculator helps policyholders:
- Understand premium commitments before purchase.
- Estimate potential maturity proceeds.
- Compare different Sum Assured and policy term combinations.
- Plan long-term financial goals more effectively.
- Evaluate the overall value of the policy before investing.
For individuals researching legacy LIC products, the LIC New Janaraksha Plan 91 Calculator remains a useful tool for understanding the plan's premium structure and projected benefits.
Step-by-Step Process to Use the LIC New Janaraksha Plan 91 Calculator
Enter Your Current Age
Start by providing your present age. This helps determine eligibility under the plan and allows the calculator to estimate the applicable premium.
Choose the Policy Duration
Select a policy term that suits your financial goals. The available term options range from 12 years to 30 years.
Select the Desired Sum Assured
Enter the amount of life insurance coverage you require. The policy offers a minimum Basic Sum Assured as prescribed by LIC.
Select the Premium Payment Frequency
Choose your preferred premium payment mode from the available options:
- Yearly
- Half-Yearly
- Quarterly
- Monthly
Generate Premium Estimates
Once the required information is entered, the calculator estimates the premium payable based on the selected policy parameters.
Review Projected Maturity Benefits
The calculator provides an estimated maturity value by considering the selected Sum Assured and illustrative bonus assumptions.
Check Death Benefit Illustration
Users can also view the estimated amount payable to nominees in case of the policyholder's death during the policy term.
Using the calculator allows policyholders to better understand future commitments and expected benefits before making a financial decision.
Example of LIC New Janaraksha Plan 91 Calculation
Consider a hypothetical case where a 30-year-old individual chooses a Basic Sum Assured of ₹1,00,000 with a policy term of 20 years and opts for annual premium payments.
Illustrative Results
Approximate Annual Premium: ₹3,587
Projected Maturity Benefit: Basic Sum Assured along with accrued bonuses and any applicable Final Additional Bonus.
Death Benefit: ₹1,00,000 plus vested bonuses and any eligible accidental benefit payable according to policy conditions.
This example is intended only for illustration and actual figures may vary based on LIC's underwriting guidelines and bonus declarations.
Reasons to Consider LIC New Janaraksha Plan 91
Backed by LIC's Reputation
LIC has earned a strong reputation for reliability, customer trust, and consistent claim settlement performance over the years.
Combination of Protection and Savings
The plan offers life insurance coverage while simultaneously helping policyholders build a long-term savings corpus through bonus participation.
Additional Accident Protection
Built-in accidental death and disability benefits provide an extra layer of financial security for policyholders and their families.
Tax-Saving Advantages
The policy offers potential tax benefits on premiums paid and eligible policy proceeds, subject to prevailing tax regulations.
Flexible Policy Duration
Policyholders can choose a term ranging from 12 to 30 years, allowing customization according to personal financial objectives.
Surrender Benefit Facility
The availability of surrender benefits offers flexibility in situations where policyholders may need to discontinue the policy before maturity.
Important Points to Remember
- LIC New Janaraksha Plan 91 was discontinued for new sales from 1 January 2014.
- Existing policyholders continue to enjoy benefits according to the original policy terms.
- Policy features, benefits, and claim provisions should always be verified through official LIC documents.
- Premium and maturity estimates should be checked using authorized LIC calculators or official illustrations.
- Consultation with an LIC representative or qualified financial advisor is recommended before making policy-related decisions.
Frequently Asked Questions About LIC New Janaraksha Plan 91
What is LIC New Janaraksha Plan 91?
LIC New Janaraksha Plan 91 was a participating endowment assurance policy that combined life insurance protection with long-term savings and bonus accumulation.
Can I still purchase LIC New Janaraksha Plan 91?
No. The plan was withdrawn from new business with effect from 1 January 2014. However, existing policyholders continue to receive benefits according to their policy contracts.
What policy term options were available?
The plan offered policy terms ranging from 12 years to 30 years.
What was the eligible entry age?
The minimum entry age was 18 years, while the maximum entry age was 50 years based on the nearest birthday.
Which premium payment modes were available?
Premiums could be paid through yearly, half-yearly, quarterly, or monthly modes.
What benefits were payable upon death during the policy term?
The nominee received the Basic Sum Assured together with accrued bonuses and any applicable accidental benefit according to the policy provisions.
Conclusion
LIC New Janaraksha Plan 91 remains one of LIC's well-known traditional endowment insurance plans that successfully combined life insurance protection, bonus-linked savings, and accident-related benefits under a single policy structure.
Although the plan is no longer available for new purchases, it continues to provide valuable protection and maturity benefits to existing policyholders. Understanding the policy's features and using the LIC New Janaraksha Plan 91 Calculator can help policyholders estimate premiums, evaluate benefits, and make informed financial decisions regarding their coverage.
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