Javascript is not currently enabled in your browser.
You must enable Javascript to run this web page correctly.

The date of Main examination for the recruitment of Apprentice Development officers has been modified as 23.04.2023 from 08.04.2023     "RFP for Consultant for HR Systems"     "Dear Policyholder, Please submit Bank Account Details ( NEFT ) to LIC - Click here to Download NEFT Form"     'SMS "LICHELP < policy no >" and send it to 9222492224 or 56767877 for Policy Enquiry/Product Query/Registering of complaint under your policy     Notice to Public regarding Combination of Products     " Know your policy details through SMS to 'ASKLIC' (ASKLIC < policy no > PREMIUM/LOAN/BONUS/REVIVAL/NOMINATION) and send it to 9222492224 "     Beware of fake / spurious calls - DOs and DONTs     " FRAUDULENT RECRUITMENT ADs: BEWARE...! "     Beware of Spurious Phone Call and Fictitious/Fraudulent Offers     "PLEASE REGISTER IN CUSTOMER PORTAL FOR AVAILING ONLINE SERVICES"     Intimation to policyholders regarding changes in tax structure due to implementation of Goods and ServicesTax (GST) - Click Here     Basic Safety measures to fight against Coronavirus Disease (COVID-19)     "Revised Working Hours of All Offices of LIC Of India from 10.05.2021, pursuant to Notification S.O.1630(E) Dated 15th April 2021 wherein the CENTRAL GOVERNMENT has Declared Every Saturday as a Public Holiday for Life Insurance Corporation of India."     Also on ALL POSSIBLE digital modes through LIC website without any service charges.     "Individual Pension Policyholders/ Annuitants can submit Digital Life Certificate through mobile app Jeevan Saakshya. App can be downloaded from play store"     For Policy enquiry contact LIC Call Centre Services on (022) 68276827     

Home » Products » Withdrawn Plans » LIC's Jeevan Sugam (Plan No. 813, UIN : 512N273V01)

LIC's Jeevan Sugam (Plan No. 813, UIN No. 512N273V01)

Sales Brochure(102 KB)

Date of Withdrawal : 11.04.2013

LIC’s Jeevan Sugam is a non-linked single premium plan wherein the risk cover is a multiple of premium paid by you. On maturity this plan offers a Maturity Sum Assured chosen by you.
The plan will be open for sale for a maximum period of 45 days from the date of launch.



1. Death Benefit:
On death during first five policy years:
Basic Sum assured i.e. 10 times the single premium (net of service tax) excluding any extra premium charged shall be payable.
On death after completion of five policy years:
Basic Sum assured i.e. 10 times the single premium (net of service tax) excluding any extra premium charged along with loyalty addition, if any, shall be payable.

2. Maturity Benefit:
On maturity, the Maturity Sum Assured along with Loyalty Addition, if any, shall be payable.

Loyalty Addition
Depending upon the Corporation’s experience with regard to policies issued under this plan, this policy will be eligible for Loyalty Addition. The Loyalty Addition, if any, is payable on death after completion of  five policy years, on surrender during the last policy year and on maturity, at such rate and on such terms as may be declared by the Corporation.




Minimum Entry Age   


      8 years (completed)


Maximum Entry Age   


     45 years (nearest birthday)


Minimum/Maximum Basic Sum Assured
10 times of single premium paid (excluding  


extra premium, if any) 



Minimum Maturity Sum Assured     
       Rs. 60,000/-


Maximum Maturity Sum Assured  


        No Limit
 Maturity Sum Assured shall be available in multiples of Rs. 5,000/-


Policy Term   


          10 years


Premium payment mode  


       Single premium only



Sample Premium Rates:

Specimen Single Premium rates (exclusive of Service Tax) for some of the ages per Rs.1000/- Maturity Sum Assured are as under:

Age at entry
 (Nearest Birthday)
Single Premium Rates (Rs.)
10 537.75
20 552.90
30 562.65
40 629.35



Incentive for higher Maturity Sum Assured by way of increase in the Maturity Sum Assured is as under:

 Maturity Sum Assured Increase in  Maturity Sum Assured
Below Rs.150,000 Nil
Rs.150,000 to Rs. 399,999 3.50%
Rs.400,000 and above 4.50%


If the policy holder opts for Maturity Sum Assured Rs. 150000/- or above, the Maturity Sum Assured shall be automatically increased by the percentage corresponding to opted Maturity Sum Assured as shown above. This Increased Maturity Sum Assured shall be the Maturity Sum Assured payable at the time of maturity along with Loyalty Addition, if any.

For e.g. if opted Maturity Sum Assured by the Proposer is Rs. 150,000/-. Maturity Sum Assured payable at Maturity is Rs. 150,000 * (1+3.5%) i.e. Rs. 155,250/-


Loan can be availed under this plan any time during the policy term. Loan shall be equal to 60% of the surrender value as on the date of sanction of loan.


The policy can be surrendered for cash at any time during the policy term.  The minimum Guaranteed Surrender Value allowable shall be as under:

  1. First year: 70% of the Single premium (net of service tax) excluding all extra premiums, if any.
  2. Thereafter: 90% of the Single premium (net of service tax) excluding all extra premiums, if any.

Corporation may however pay Special Surrender value as applicable on the date of surrender provided the same is higher than the Guaranteed Surrender Value.

The Special Surrender Value will be the discounted value of the Maturity Sum Assured as on date of surrender. If the policy is surrendered during the last policy year it shall be eligible for loyalty addition, if any.


Service tax, if any, shall be as per the Service Tax laws and the rate of service tax as applicable from time to time.
The amount of service tax as per the prevailing rates shall be payable by the policyholder on the premium.


If you are not satisfied with the “Terms and Conditions” of the policy, you may return the policy to the Corporation within 15 days from the date of receipt of the policy stating the reason of objections. On receipt of the same the Corporation shall cancel the policy and return the amount of single premium deposited after deducting the risk premium, expenses incurred on medical examination, if any, and stamp duty.


The policy shall be void if the Life Assured (whether sane or insane at the time) commits suicide at any time within one year from the date of commencement of risk and the Corporation will not entertain any claim under this policy except to the extent of a maximum of
(i) 90% of the single premium paid excluding any extra premium paid or (ii) third party’s bonafide beneficial interest acquired in the policy for valuable consideration (but limited to applicable death benefit of this policy) of which notice has been given in writing to the branch where the policy is being presently serviced (where the policy records are kept) at least one calendar month prior to death.