LIC Jeevan Bharati I Plan 192 Calculator

Life Insurance Corporation of India (LIC) has launched many products catering to different needs and demographics. The Jeevan Bharati I Plan 192 is a money back insurance plan exclusively for women, providing financial security, periodic survival benefits, and other protection features.

What is LIC Jeevan Bharati I Plan 192?

LIC Jeevan Bharati I (Plan No. 192) is a money back insurance plan designed for women that offers survival benefits at regular intervals during the policy term along with death and maturity benefits. The plan is a traditional with-profits policy that also provides additional benefits through optional riders.

The plan stands out by paying a percentage of the sum assured every 5 years during the policy term, giving policyholders liquidity and returns while the policy is still in force. It also offers life coverage, with the sum assured plus bonuses payable on death. On maturity, the balance sum assured with vested bonuses and any additional final bonus is paid.

Key highlights:

• Exclusively for women aged 18 to 55 years
• Policy term options: 15 years or 20 years
• Sum assured from ₹50,000 to ₹25,00,000 in multiples of ₹5,000
• Premium payment mode: yearly only (with option to pay in advance installments)
• Survival benefits paid every 5 years are a portion of the sum assured
• Death benefit covers full sum assured plus bonuses irrespective of survival benefits paid
• Optional add-on riders include Accident Benefit, Critical Illness Benefit, and Congenital Disability Benefit
• Flexibility in availing survival benefits either on due dates or later with increased amount
• Option to receive maturity proceeds as an annuity

Launch and Withdrawal Dates

The LIC Jeevan Bharati I Plan 192 was launched to provide enhanced financial security options for women. The plan was actively marketed for several years but has been discontinued (withdrawn) recently.

• Launch Date: Early 2000s (Exact launch aligned with International Women’s Day celebrations as per reports from 2003)
• Withdrawal Date: December 22, 2013

Though withdrawn from new sales in 2013, existing policyholders continue to enjoy the benefits under their purchased plans until maturity or earlier exit.​

Who is Eligible for LIC Jeevan Bharati I Plan 192?

This insurance plan was designed exclusively for women, focusing on their specific financial needs and security.

Eligibility criteria included:

• Entry Age: 18 to 55 years
• Policy Term: 15 years or 20 years
• Sum Assured: ₹50,000 to ₹25,00,000 in multiples of ₹5,000
• Premium Payment Mode: Yearly only (with option to pay yearly premiums in advance in up to 3 installments)

This made the plan accessible to a wide range of women, whether young working professionals, homemakers, or mature women planning for retirement security.​

Plan Benefits Explained

Survival Benefits (Money Back)

One of the most attractive features of this plan was survival benefits payable every 5 years during the policy term, giving policyholders periodic returns:

For a 15-year term:

• 20% of the sum assured at the end of 5 years
• 20% of the sum assured at the end of 10 years
• 60% of the sum assured plus any vested bonuses and a Final Additional Bonus at the end of 15 years

For a 20-year term:

• 20% of the sum assured at the end of 5 years
• 20% of the sum assured at the end of 10 years
• 20% of the sum assured at the end of 15 years
• 40% of the sum assured plus vested bonuses and Final Additional Bonus at the end of 20 years

These periodic returns provided liquidity and rewards under the policy.​

Death Benefit

In case of the unfortunate death of the life insured during the policy term, the nominee received:

• Full sum assured irrespective of survival benefits paid till then
• Vested bonuses and Final Additional Bonus (if any)

This ensured complete financial support to the family at the time of crisis.​

Maturity Benefit

On survival till maturity, the policyholder received the balance sum assured along with:

• Vested bonuses
• Final Additional Bonus (if any)

The maturity amount settled the savings and benefits of the policy after the complete term.​

Optional Riders

The plan offered riders for extra protection at nominal extra cost:

• Accident Benefit Rider: Coverage for accidental death or disability with waiver of premiums on permanent disability
• Critical Illness Benefit Rider: Covers medical expenses if diagnosed with critical illness
• Congenital Disability Rider: Protection against disabilities arising at birth for children born to the policyholder

These riders served to enhance financial protection against unforeseen risks.​

Special Features

• Policyholders could encash survival benefits as and when needed after their due dates, with increased amounts if withdrawn later
• Option to pay premiums in advance with possible premium rebates
• Free insurance cover for 3 years in case of premium defaults
• Option to receive maturity proceeds in the form of annuity (regular income)

These features added flexibility and usefulness to the plan.​

LIC Jeevan Bharati I Plan 192 Premium Calculation

The yearly premium is based on factors such as:

• Age of the policyholder at entry
• Sum assured chosen
• Policy term (15 or 20 years)
• Optional riders selected

For example, for a sum assured of ₹10,00,000 with no riders:

Premiums increase with age and depend on policy term.​

LIC Jeevan Bharati I Plan 192 Calculator

The LIC Jeevan Bharati I Plan 192 Calculator is a tool developed to help policyholders and prospective buyers estimate premiums, survival benefits, maturity value, and death benefits.

Why Use the Calculator?

• Get a clear idea of the premium payable based on your age, sum assured, and policy term
• Estimate expected survival money back benefits at intervals
• Calculate projected maturity benefits including bonuses
• Evaluate death benefit amount payable to nominees
• Compare premium and benefits for different terms and sums assured

How the Calculator Works

You input details such as:

• Age of the policyholder
• Policy term (15 or 20 years)
• Sum assured amount
• Whether riders are needed

The calculator then:

• Uses LIC’s official formula and rates to estimate yearly premium
• Calculates periodic survival benefits based on sum assured percentages
• Projects maturity benefits, including estimated bonuses based on historical bonus rates
• Displays death benefit amount along with survival benefits paid so far

This makes decision-making easier without complex manual calculations.

Where to Find the Calculator

While LIC’s official calculator for this withdrawn plan is no longer available on the LIC website, third-party financial websites and insurance portals provide Jeevan Bharati I Plan 192 calculators.

Examples:

• LIC calculators on insurance portals like PolicyBazaar
• Dedicated LIC calculator websites that include older and withdrawn plans
• Custom-built Excel or web calculators based on the plan’s brochure rules

Using these calculators requires understanding plan details to input correct parameters.​

How to Use LIC Jeevan Bharati I Plan 192 Calculator: Step-by-Step

If you want to estimate your premium and benefits, follow these steps generally applicable in LIC Jeevan Bharati I Plan 192 calculators:

1. Enter your age: The age on the policy start date should be between 18 and 55.
2. Select policy term: Choose either 15 years or 20 years term option.
3. Enter sum assured: Choose your desired coverage amount within allowed range.
4. Premium payment mode: Yearly is the only mode (some calculators allow advance payments).
5. Optional riders: Select if you want to include Accident, Critical Illness, or Congenital Disability riders.
6. Click calculate: The tool displays yearly premium payable.
7. View benefits: Check survival benefits at 5-year intervals, maturity value estimate, and death benefit details.

Make sure to use a reputable calculator that is aligned with LIC’s official formulas.

Advantages of LIC Jeevan Bharati I Plan 192

• Exclusively designed for women’s financial security and needs
• Money back plan providing systematic returns every 5 years; ideal for liquidity
• Life cover plus survival benefits ensure savings and protection
• Optional riders provide comprehensive risk coverage
• Flexibility in premium payment and benefit withdrawal
• Bonuses enhance maturity benefits reflecting LIC’s investment performance
• Encourages disciplined savings with premium payment
• Maturity proceeds annuity option helps post-retirement income planning

This combination makes Jeevan Bharati I a well-rounded financial planning tool for women.​

Limitations and Points to Consider

• The plan is no longer available for new policy issuance as it was withdrawn in 2013.
• Premium payment mode is only yearly which may not suit everyone.
• Linked bonuses are variable and depend on LIC’s declared rates annually.
• The plan specifically targets women, so not applicable for male policyholders.
• If you want a modern replacement with similar benefits, consider newer money back and women’s plans offered by LIC.

Alternatives to LIC Jeevan Bharati I Plan 192

Since Jeevan Bharati I Plan 192 is withdrawn, some modern LIC plans offer comparable features:

• LIC’s New Jeevan Shanti: A money back plan with regular survival benefits and lump sum maturity payout.
• LIC Jeevan Lakshya Plan: A term-cum-endowment plan for protection plus savings.
• LIC’s Jeevan Labh Plan: Plan with guaranteed returns and bonuses.
• LIC’s New Money Back Plans: Updated plans with flexibility in premium payment modes and annuity options.

Check current LIC policy offerings to select the plan matching your financial goals.

How to Buy LIC Jeevan Bharati I or Similar Plans?

While Jeevan Bharati I Plan 192 is no longer available, similar plans can be purchased online or offline through:

• LIC official website and agents
• LIC branch offices
• Insurance marketplace portals like PolicyBazaar, Coverfox
• Financial advisors or insurance brokers

Always compare premiums, benefits, terms, and riders before finalizing.

FAQ

Conclusion

LIC Jeevan Bharati I Plan 192 was a pioneering money back plan designed exclusively for women, offering financial security through regular survival benefits, death cover, and maturity proceeds. Its exclusive features like flexibility in survival benefit withdrawal, optional riders for various risks, and premium payment options made it a preferred choice for many women investors.

Though withdrawn in 2013, its financial design principles continue to influence modern LIC plans. The LIC Jeevan Bharati I Plan 192 Calculator plays a crucial role in helping policyholders estimate premiums and benefits with ease, aiding sound financial planning decisions.