LIC's Jeevan Kiran Plan 870

Life insurance is a crucial part of financial planning that offers protection and peace of mind. Among various insurance products, LIC Jeevan Kiran Plan 870 stands out as a pure risk premium term insurance plan with an attractive feature of returning the premiums paid.

Introduction to LIC Jeevan Kiran Plan 870

LIC Jeevan Kiran (Plan No. 870) is a pure risk premium term insurance plan introduced by the Life Insurance Corporation of India (LIC). This plan is unique because it provides life coverage with the added benefit of returning the premiums paid if the insured survives the policy term. It is designed to offer financial security to the policyholder’s family in case of an unfortunate event during the policy term.

Launch and Withdrawal Dates

• Launch Date: LIC Jeevan Kiran Plan 870 was launched on July 27, 2023.
• Withdrawal Date: LIC officially withdrew the plan on October 15, 2025.

This timeline indicates the plan was available for new customers for a little over two years, during which it gained popularity for its benefits and return of premium features.

Key Features of LIC Jeevan Kiran Plan 870

LIC Jeevan Kiran comes with several important features that make it attractive to individuals looking for both financial protection and a return of premiums:

• Pure Term Insurance with Return of Premium: Unlike traditional term plans, this plan returns the total premiums paid if the insured survives the policy tenure.
• Policy Term: The policy term ranges from 10 to 35 years, allowing flexibility.
• Sum Assured: The minimum sum assured is ₹50 lakhs.
• Eligibility: The plan is available for individuals aged between 18 and 65 years.
• Premium Payment Modes: Annual, semi-annual, quarterly, and monthly premium payments are allowed.
• Death Benefit: In case of the policyholder’s death during the policy term, the nominee receives the sum assured along with bonuses, if applicable.
• Maturity Benefit: If the insured survives till the end of the term, the total premiums paid are returned without any interest.
• Tax Benefits: Premiums paid and benefits received are eligible for tax benefits under sections 80C and 10(10D) of the Income Tax Act.

Eligibility Criteria

Before considering Jeevan Kiran Plan 870, one should verify eligibility:

• Entry Age: Minimum 18 years, maximum 65 years.
• Policy Term: Between 10 and 35 years, subject to maximum maturity age of 70 years.
• Sum Assured: Minimum ₹50 lakhs; higher sums must meet additional underwriting requirements.

Benefits of LIC Jeevan Kiran Plan 870

Life Cover

The plan provides comprehensive life cover for the chosen policy term. In case of death, the nominee receives the sum assured, ensuring family financial security.

Return of Premiums

This is the standout feature. If the policyholder survives the term, all the premiums paid during the tenure are returned without any interest, making it a non-loss investment with insurance benefits.

Tax Advantages

Premiums paid qualify for tax deductions under Section 80C, and maturity benefits including death claims are tax-exempt under Section 10(10D).

Flexibility in Premium Payment

Multiple premium payment options make it convenient for policyholders to pay premiums in a manner suitable to their cash flow.

Loan Facility

Although restricted, the plan provides a loan facility during the policy term in case of urgent financial needs.

How Does LIC Jeevan Kiran Plan 870 Work?

• You choose the policy term and sum assured based on your needs.
• Pay regular premiums till the end of the term.
• If you die during the policy term, your nominee receives the sum assured.
• If you survive the term, LIC returns all the premiums paid.
• The plan does NOT offer any bonuses or profit returns aside from returning the premiums.

LIC Jeevan Kiran Plan 870 Calculator Explained

The LIC Jeevan Kiran Plan 870 Calculator is a free online tool that helps prospective policyholders estimate their premium amounts and maturity benefits quickly and accurately based on their input parameters.

Why Use the Calculator?

• Instant Premium Calculation: Helps you know how much premium you need to pay depending on your coverage needs.
• Maturity Benefit Projection: Estimates the total amount you will get back if you survive the policy term.
• Financial Planning: Helps in budgeting and understanding affordability before buying the plan.
• Comparison: Enables comparing different term durations and sum assured amounts to choose optimal coverage.

How to Use the LIC Jeevan Kiran Plan 870 Calculator?

The calculator typically requires you to enter a few details:

• Age of the applicant
• Policy term (number of years)
• Sum assured desired
• Premium payment frequency (annual, quarterly, etc.)

After entering these inputs, the calculator displays:

• Annual or respective premium amount payable
• Total premiums payable over the term
• Maturity amount (total premiums returned)
• Death benefit amount

Step-by-Step Guide to Use the LIC Jeevan Kiran Calculator

1. Visit an Online LIC Calculator Website
   LIC India’s official website or reputed insurance portals provide the calculator.
2. Enter Your Age
   Fill your current age to validate eligibility and calculate premiums correctly.
3. Choose Policy Term
   Select the duration (10 to 35 years) for which you want coverage.
4. Enter Sum Assured
   Input the amount of coverage (minimum ₹50 lakhs).
5. Select Premium Mode
   Choose how often you want to pay premiums (yearly, half-yearly, quarterly, or monthly).
6. Calculate
   Click on the calculate button to get your premium and maturity estimate.

Example Calculation

Suppose a 30-year-old individual chooses a policy term of 20 years and sum assured of ₹50 lakhs with annual premium payment:

• The premium calculator will show the annual premium amount needed.
• Total premiums paid over 20 years will be displayed.
• If the insured survives 20 years, the total premium paid will be returned at maturity.

Important Precautions While Using the Calculator

• Always fill correct and accurate information.
• The premium amounts may vary based on factors like health, occupation, and underwriting decisions.
• Calculator estimates are indicative and final premiums are based on the proposal form acceptance and medical evaluation.
• The calculator does not include taxes like GST, which may apply on premium.

Who Should Consider LIC Jeevan Kiran Plan 870?

This plan suits individuals who want:

• Pure life insurance along with a return of premiums.
• High sum assured for family financial security.
• Tax benefits on premium and maturity.
• A non-risk investment with the guarantee of premium return.
• Flexible premium payment schedules.

It may not be suitable for those seeking:

• Investment-linked returns or bonuses.
• Higher liquidity or cash value during the term.

How to Buy LIC Jeevan Kiran Plan 870?

Before the withdrawal date, the plan could be purchased via:

• LIC’s official website and e-sales portal.
• Authorized LIC agents and offices.
• Various insurance brokers and financial advisors.

Complete the proposal form, undergo medical examination if required, and pay the initial premium. Upon acceptance, the policy bond is issued.

Frequently Asked Questions

Summary

LIC Jeevan Kiran Plan 870 is a pure term insurance product that blends life cover with the unique benefit of returning all premiums paid at maturity. Although withdrawn in October 2025, it served many by offering financial protection and a no-loss proposition through premium return.

The LIC Jeevan Kiran Plan 870 Calculator is an excellent tool that helps potential policyholders estimate their premium payments and predict maturity benefits easily. Anyone seeking a term insurance plan with this kind of feature should understand these details carefully before investing.