LIC Jeevan Kishore Plan 102 Calculator
Endowment Assurance Plan for Children
Plan Information
Plan Number: 102 (Table No. 102)
UIN: 512N094V01
Plan Type: Endowment Assurance Plan (With Profits)
Launch Date: This plan was available for children below 12 years
WITHDRAWN FROM SALENote: This plan has been withdrawn by LIC. This calculator is for existing policyholders and reference purposes only.
Calculation Results
Life Insurance Corporation (LIC) of India is one of the most trusted names in the Indian insurance sector, known for its wide range of insurance plans for individuals and families. One such important offering is the LIC Jeevan Kishore Plan 102, a child insurance plan designed to secure the financial future of your child.
Introduction to LIC Jeevan Kishore Plan 102
LIC Jeevan Kishore Plan 102 is a participating, limited premium payment endowment plan that provides a comprehensive life insurance coverage along with financial protection for your child’s future education and other milestones. It offers benefits of life cover during the policy term and a lump sum amount on maturity to meet child-related expenses.
Launch and Withdrawal Dates
LIC Jeevan Kishore Plan 102 was officially launched in early 2024, expanding LIC’s portfolio of child plans. However, in line with LIC’s periodic product review and modernization, this plan was scheduled to be withdrawn on 30th June 2025. It is important to note that though the plan is withdrawn from new sales, existing policyholders will continue to enjoy the benefits as per their policy terms.
Key Features of LIC Jeevan Kishore Plan 102
- Limited Premium Payment: Premium payment is limited to a fixed number of years (such as 10, 12, or 15 years) even though the coverage continues for the full policy term.
- Life Cover: Provides life insurance coverage on the life of the child insured till maturity.
- Maturity Benefit: On survival till the end of the policy term, the maturity sum assured, along with bonuses (participating plan), is paid to the policyholder.
- Loan Facility: Policyholders can avail loans against the policy after a certain period.
- Tax Benefits: Premiums paid and maturity proceeds are eligible for tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, respectively.
- Participation in Profits: As a participating plan, it offers bonuses declared by LIC, enhancing the maturity benefits.
Benefits of LIC Jeevan Kishore Plan 102
- Financial security for your child’s future education or marriage expenses.
- Guaranteed savings combined with life cover.
- Flexibility in choosing the policy term and premium payment duration.
- Bonus additions that increase the maturity amount.
- Option to avail loans during the policy term.
Eligibility and Policy Term
- Entry Age: Usually, the child’s age at entry ranges from 0 to 12 years.
- Policy Term: Typically between 15 to 20 years (varies per specific plan options).
- Premium Payment Term: Limited to 5, 7, 10, 12 years, depending on the choice.
How LIC Jeevan Kishore Plan 102 Works
You pay premiums for a limited number of years while your child remains insured for the full term. During the policy term, if the child unfortunately passes away, the nominee receives the sum assured along with accrued bonuses. If the child survives till maturity, the total maturity amount, including bonuses, is paid, supporting your child’s future goals.
What is LIC Jeevan Kishore Plan 102 Calculator?
The LIC Jeevan Kishore Plan 102 Calculator is an online or offline tool that helps you estimate the annual or single premium payable based on your chosen sum assured, policy term, and premium payment term. It also provides an estimate of the maturity benefits you can expect at the end of the policy, including bonuses. This calculator is very helpful for buyers to make an informed decision before buying the policy.
Using LIC Jeevan Kishore Plan 102 Calculator: Step-by-Step Guide
- Enter the Sum Assured: Decide on the amount of life cover you wish to take for your child.
- Choose the Policy Term: Select from available policy terms such as 15 years or 20 years.
- Select Premium Payment Term: Pick the number of years you want to pay the premiums.
- Input the Age of the Child: Enter the current age of your child to calculate the premium accurately.
- Calculate: The calculator will show you the premium amount payable yearly or as a single premium.
- View Maturity Benefits: The estimated maturity amount with bonuses will be displayed.
Benefits of Using the Calculator
- Helps in budgeting your finances based on affordable premiums.
- Enables comparison of maturity benefits for different policy terms.
- Gives clarity on future payouts helping in better financial planning.
Example Calculation
Suppose you want a sum assured of ₹5,00,000 with a policy term of 20 years and a premium payment term of 12 years for a child aged 5 years.
- The calculator will estimate the annual premium you need to pay.
- It also estimates the maturity amount, including bonuses, payable at the end of 20 years.
This helps you assess if the policy suits your financial goals and capability.
Important Considerations Before Buying
- Confirm the latest status of the plan as it was withdrawn for new sales in June 2025.
- Review your financial goals and insurance needs carefully.
- Consider other child insurance plans if Jeevan Kishore Plan 102 is not available.
- Check policy conditions for loans, surrenders, and other benefits.
Alternatives and Latest Plans from LIC for Children
LIC offers other child plans like LIC New Children’s Money Back Plan, LIC Jeevan Tarun, and LIC New Endowment Plan, which can be considered as alternatives.
Where to Find LIC Jeevan Kishore Plan 102 Calculator
Several financial websites and LIC’s official portals provide Jeevan Kishore Plan calculators. Using the official LIC India website or trusted financial portals is recommended for accurate calculations.
Frequently Asked Questions
What is LIC Jeevan Kishore Plan 102?
It is a child insurance plan from LIC that offers life cover and savings benefits to secure the child’s financial future.
When was LIC Jeevan Kishore Plan 102 launched?
The plan was launched in early 2024.
Is LIC Jeevan Kishore Plan 102 still available for new purchases?
No, the plan was withdrawn for new sales on 30th June 2025, but existing policyholders continue to get benefits.
Who is eligible to buy this plan?
Children aged between 0 to 12 years are eligible under this plan.
What is the policy term for this plan?
The policy term can range from 15 to 20 years depending on the option chosen.
How many years do I need to pay the premium?
Premium payment is limited to a fixed number of years such as 5, 7, 10, or 12 years as selected by the policyholder.
Conclusion
LIC Jeevan Kishore Plan 102 is a thoughtfully designed child insurance plan that blends insurance and savings, aiming to secure your child’s financial future with minimum hassle. Although the plan is withdrawn from new business from June 2025, existing policyholders can continue to enjoy its benefits.
Using the LIC Jeevan Kishore Plan 102 Calculator before making your decision allows you to estimate the premiums and maturity value easily, helping you plan better.