LIC Jeevan Kiran Policy Guarantees Premium Refund and Life Insurance Cover

LIC (Life Insurance Corporation) has unveiled the Jeevan Kiran Life Insurance Policy, a novel offering that provides investors with a unique proposition of dual benefits.

This policy not only serves as a savings avenue but also extends comprehensive life insurance coverage.

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In the unfortunate event of the policyholder’s untimely demise during the policy term, the family receives up to 125% of the premium amount, offering a safeguard against unforeseen circumstances.

Furthermore, for policyholders who survive till maturity, the entire premium sum is returned.

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Exploring the Jeevan Kiran Policy:

Launched in the last week of July, the Jeevan Kiran Life Insurance Policy by LIC stands as a non-linked, non-participating individual savings and life insurance plan.

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One of its standout features is the complete repayment of the total premium amount upon maturity, providing policyholders with a significant financial advantage.

Benefits in the Event of Policyholder’s Demise:

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In cases of the policyholder’s unfortunate passing during the policy tenure, the sum assured is provided to the beneficiaries.

This provision applies to both regular and single premium payment modes.


The policy encompasses all forms of demise, including accidental death, except for suicide within the first year.

Under the regular premium payment policy, the beneficiaries are entitled to receive either 7 times the annualized premium, 105% of the total premiums deposited until the date of demise, or the Basic Sum Assured, depending on whichever is higher.


On the other hand, under the single premium payment policy, the beneficiaries will receive 125% of the single premium paid, in addition to the basic insurance amount.

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